<SEC-DOCUMENT>0001144204-12-067136.txt : 20121210
<SEC-HEADER>0001144204-12-067136.hdr.sgml : 20121210
<ACCEPTANCE-DATETIME>20121210122640
ACCESSION NUMBER:		0001144204-12-067136
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20121210
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121210
DATE AS OF CHANGE:		20121210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MDC PARTNERS INC
		CENTRAL INDEX KEY:			0000876883
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				980364441
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13718
		FILM NUMBER:		121252383

	BUSINESS ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		646 429 1800

	MAIL ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORP INC
		DATE OF NAME CHANGE:	20001204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19961028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORPORATION
		DATE OF NAME CHANGE:	19950419
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v329963_8-k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Current Report Pursuant to Section 13 or
15(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="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">Date of Report (Date Earliest Event reported)
&mdash; December 10, 2012</P>

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

<P STYLE="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>MDC PARTNERS 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">&nbsp;</P>

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    <TD STYLE="width: 34%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 33%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Canada</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Jurisdiction of Incorporation)</P></TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">001-13718</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">98-0364441</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer Identification No.)</P></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">745 Fifth Avenue, New York, New York 10151</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices
and zip code)</P>

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

<P STYLE="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">(646) 429-1800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number)</P>

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


<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8&minus;K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a&minus;12 under the Exchange Act (17 CFR 240.14a&minus;12)</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Pre&minus;commencement communications pursuant to Rule 14d&minus;2(b) under the Exchange Act (17 CFR 240.14d&minus;2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Pre&minus;commencement communications pursuant to Rule 13e&minus;4(c) under the Exchange Act (17 CFR 240.13e&minus; 4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>





<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: black">

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

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    <TD STYLE="width: 96px; font-size: 10pt; font-weight: bold">Item 1.01.</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">Entry Into a Material Definitive Agreement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Seventh Supplemental Indenture</I></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">On December 10, 2012 MDC Partners Inc. (&ldquo;MDC&rdquo; or
the &ldquo;Company&rdquo;) issued an additional $80 million aggregate principal amount of its 11% Senior Notes due 2016 (the &ldquo;New
Notes&rdquo;). The New Notes are jointly, severally and unconditionally guaranteed on a senior unsecured basis by MDC&rsquo;s wholly-owned
subsidiaries (the &ldquo;Guarantors&rdquo;). The New Notes are a follow-on issue (the &ldquo;Follow-on Offering&rdquo;) to the
Company&rsquo;s 11% senior unsecured notes due 2016 issued on October 23, 2009, May 14, 2010 and April 19, 2011 (the &ldquo;Existing
Notes&rdquo;). The New Notes were sold in a private placement in reliance on exemptions from registration under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The New Notes were issued as additional notes pursuant to a Seventh
Supplemental Indenture, dated as of December 10, 2012 (the &ldquo;Seventh Supplemental Indenture&rdquo;), among MDC, the Guarantors
and The Bank of New York Mellon, as trustee, which supplements the base indenture (the &ldquo;Base Indenture&rdquo;), dated as
of October 23, 2009. The Seventh Supplemental Indenture provides that the New Notes are identical in all terms and conditions to
the Existing Notes except as to issue date, the issue
price and CUSIP and ISIN numbers.</P>

<P STYLE="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 Base Indenture, as supplemented by the Seventh Supplemental
Indenture, contains restrictive covenants that, among other things, limit MDC&rsquo;s ability and the ability of its restricted
subsidiaries to incur or guarantee additional indebtedness, pay dividends on or redeem or repurchase MDC&rsquo;s capital stock,
make certain types of investments, create restrictions on the payment of dividends or other amounts to MDC from its restricted
subsidiaries, incur certain liens, sell or otherwise dispose of certain assets, enter into transactions with affiliates, enter
into sale and leaseback transactions, and consolidate or merge with or into, or sell all or substantially all of MDC&rsquo;s assets
to, another person. These covenants are subject to a number of important limitations and exceptions. The Base Indenture, as supplemented
by the Seventh Supplemental Indenture, also contains customary events of default, including the failure to make timely payments
on the New Notes or other material indebtedness, the failure to satisfy certain covenants and specified events of bankruptcy and
insolvency.</P>

<P STYLE="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><I>Registration Rights Agreement</I></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">On December 10, 2012, MDC entered into an Exchange and Registration
Rights Agreement (the &ldquo;Registration Rights Agreement&rdquo;) with the Guarantors and the certain initial purchasers named
therein (the &ldquo;Initial Purchasers&rdquo;), pursuant to which MDC agreed, to the extent the New Notes do not become freely
transferable without restriction under the Securities Act, as of the fifth business day following the one year anniversary of their
issuance to (i) use commercially reasonable efforts to file with the Securities and Exchange Commission a registration statement
relating to an offer to exchange any and all of such New Notes for a like aggregate principal amount of debt securities and guarantees
substantially identical to the New Notes that are registered under the Securities Act or (ii) in certain circumstances, register
the resale of the New Notes.</P>

<P STYLE="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 MDC fails to comply with certain of its obligations under
the Registration Rights Agreement (each, a &ldquo;Registration Default&rdquo;), then, as liquidated damages for such Registration
Default, special interest, in addition to the base interest rate of the Notes, shall accrue on all registrable securities then
outstanding at a per annum rate of 0.25% for the first 90 days following such Registration Default, at a per annum rate of 0.50%
for the second 90 days following such Registration Default, at a per annum rate of 0.75% for the third 90 days following such Registration
Default and at a per annum rate of 1.0% thereafter for the remaining period of such Registration Default.&nbsp;&nbsp;Other than
the Company&rsquo;s obligation to pay special interest, it will not have any liability for damages with respect to a Registration
Default on any registrable 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">The foregoing descriptions of the Seventh Supplemental Indenture
and the Registration Rights Agreement do not purport to be complete and are qualified in their entirety by reference to the full
text of the agreements, which are filed hereto as Exhibits<FONT STYLE="background-color: white"> 4.1 and 10.1, respectively, to
this Current Report on Form 8-K and incorporated herein by reference</FONT>.</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-size: 10pt; font-weight: bold">Item 2.03.&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">The information set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-size: 10pt; font-weight: bold">Item 9.01.&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">(d) Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">4.1</TD>
    <TD STYLE="font-size: 10pt">Seventh Supplemental Indenture, dated as of December 10, 2012, to the Indenture, dated as of October 23, 2009, among the Company, the Note Guarantors and The Bank of New York Mellon, as trustee, including the form of 11% Senior Notes due 2016.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">10.1</TD>
    <TD STYLE="font-size: 10pt">Exchange and Registration Rights Agreement, dated as of December 10, 2012, among the Company, the Note Guarantors and J.P. Morgan Securities LLC, as representative of the initial purchasers named 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">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signatures</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-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned hereunto duly authorized.</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%">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;&nbsp;December 10, 2012</TD>
    <TD COLSPAN="3">MDC Partners Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-bottom: 1.5pt">By:</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 27%; text-decoration: none; border-bottom: Black 1pt solid">/S/ Mitchell Gendel</TD>
    <TD STYLE="width: 15%; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:<BR>
Title:</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mitchell Gendel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">General Counsel &amp; Corporate</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Secretary</P></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<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">&nbsp;</P>

<P STYLE="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">&nbsp;</P>



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

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<TYPE>EX-4.1
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<DESCRIPTION>EXHIBIT 4.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">EXECUTION VERSION</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">MDC PARTNERS INC.,</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">THE NOTE GUARANTORS PARTY HERETO</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">AND</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">THE BANK OF NEW YORK MELLON,</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">AS TRUSTEE</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">11% SENIOR NOTES DUE 2016</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>SEVENTH SUPPLEMENTAL INDENTURE</B></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">Dated as of December 10, 2012</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This <B>SEVENTH SUPPLEMENTAL INDENTURE</B>,
dated as of December 10, 2012 (this &ldquo;<U>Seventh Supplemental Indenture</U>&rdquo;), among MDC Partners Inc., a corporation
continued under the laws of Canada (the &ldquo;<U>Company</U>&rdquo;), the Note Guarantors party hereto and The Bank of New York
Mellon, a New York banking corporation, as Trustee under the Indenture referred to below (the &ldquo;<U>Trustee</U>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, the Company, the Note Guarantors
party hereto and the Trustee have previously entered into an indenture, dated as of October 23, 2009 (the &ldquo;<U>Base Indenture</U>&rdquo;)
as supplemented by the First Supplemental Indenture dated as of May 14, 2010, the Second Supplemental Indenture dated as of October
23, 2010, the Third Supplemental Indenture dated as of April 19, 2011, the Fourth Supplemental Indenture dated as of May 2, 2011,
the Fifth Supplemental Indenture dated as of September 19, 2011, and the Sixth Supplemental Indenture dated as of March 23, 2012,
together, and as may be further amended, supplemented, waived or otherwise modified, the &ldquo;<U>Indenture</U>&rdquo;), providing
for the issuance of 11% Senior Notes due 2016 of the Company (the &ldquo;<U>Notes</U>&rdquo;), all of which are outstanding on
the date hereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to <U>Section&nbsp;9.1(9)</U>
of the Base Indenture, the Company, the Note Guarantors and the Trustee may amend or supplement the Indenture without notice to
or consent of any Holder to provide, among other things, for the issuance of Additional Notes as permitted by <U>Section&nbsp;2.2(c)</U>
and <U>Section&nbsp;2.14</U> of the Base Indenture, which will be treated, together with any other Outstanding Notes, as a single
issue of securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, the Board of Directors of
the Company has authorized by resolutions, including the Additional Note Board Resolutions pursuant to Section&nbsp;2.14(b) of
the Base Indenture, the issuance of $80,000,000 aggregate principal amount of Additional Notes (the &ldquo;<U>December 2012 Additional
Notes</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to Section&nbsp;2.14(b)
of the Base Indenture, the Company has delivered to the Trustee the Officers&rsquo; Certificate pursuant to and in accordance with
the Additional Note Board Resolutions relating to the December 2012 Additional Notes;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, the Company, the Note Guarantors,
and J.P. Morgan Securities LLC, as representative of the initial purchasers, have entered into an Exchange and Registration Rights
Agreement, dated as of the date hereof, (the &ldquo;<U>December 2012 Additional Notes Registration Rights Agreement</U>&rdquo;)
with respect to the December 2012 Additional Notes;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, the Company has requested
that the Trustee join in the execution of this Seventh Supplemental Indenture, and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS</B>, all conditions and requirements
necessary to make this Seventh Supplemental Indenture a valid, binding, and legal instrument in accordance with the terms of the
Indenture have been performed and fulfilled and the execution and delivery hereof have been in all respects duly authorized.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>, for and in
consideration of the premises and the mutual covenants contained herein and in the Indenture and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company, the Note Guarantors and the Trustee hereby agree for
the equal and ratable benefit of all Holders of the December 2012 Additional Notes as follows:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined
Terms</U>. All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Indenture, as
supplemented and amended hereby.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The
Additional Notes</U>. (a) Pursuant to <U>Section&nbsp;2.14</U> of the Base Indenture, the Company hereby creates $80,000,000 aggregate
principal amount of its 11% Senior Notes due 2016. These December 2012 Additional Notes shall constitute a single series with the
Company&rsquo;s Outstanding Notes issued on October 23, 2009, May 14, 2010 and April 19, 2011 (the &ldquo;<U>Existing Notes</U>&rdquo;),
to which the December 2012 Additional Notes are identical in all terms and conditions except as to the issue date, the amount of
interest payable on the first Interest Payment Date therefore and issue price as permitted under <U>Section&nbsp;2.14(a)</U> of
the Base Indenture and except as further provided in paragraph (b) below. Interest on the December 2012 Additional Notes shall
accrue from November 1, 2012. The first interest payment date of the December 2012 Additional Notes shall be May 1, 2013. All December
2012 Additional Notes issued under the Indenture will, when issued, be considered Notes for all purposes thereunder and will be
subject to and take the benefit of all of the terms, conditions and provisions of the Indenture. The December 2012 Additional Notes
shall be issued in global form in minimum denominations of $2,000 and integral multiples of $ 1,000 in excess thereof in substantially
the form of <U>Exhibit A</U> hereto. The terms and provisions of the December 2012 Additional Notes set forth in <U>Exhibit A</U>
hereto shall constitute and are expressly made a part of this Seventh Supplemental Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
further permitted under <U>Section&nbsp;2.14(a)</U> of the Base Indenture, the December 2012 Additional Notes shall have different
CUSIP and ISIN numbers than those of any of the Existing Notes until (A) the Registered Exchange Offer, if required, for the December
2012 Additional Notes is completed pursuant to the December 2012 Additional Notes Registration Rights Agreement and the Indenture
or (B) the December 2012 Additional Notes are otherwise freely tradable and the restrictive legend has been removed therefrom pursuant
to <U>Section&nbsp;2.7(h)</U> of the Base Indenture, (whichever occurs earlier, the &ldquo;<U>Specified Time</U>&rdquo;). At the
Specified Time, the portion of the December 2012 Additional Notes represented by Global Notes exchanged in a Registered Exchange
Offer as described in clause (A) above or freely tradable as described in clause (B) above will, to the extent permitted by DTC
and applicable law, be consolidated with the Global Note for the Existing Notes to the extent such Global Note for the December
2012 Additional Notes is freely tradable and does not have a restrictive legend.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
and Authentication of the Additional Notes</U>. The Trustee shall, upon receipt of and in accordance with a Company Order pursuant
to Section&nbsp;2.03 of the Base Indenture, authenticate and deliver the December 2012 Additional Notes in the aggregate principal
amount of $80,000,000.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ratification
of Indenture; Seventh Supplemental Indenture Part of Indenture</U>. Except as expressly supplemented hereby, the Indenture is in
all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.
This Seventh Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or
hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity
or sufficiency of this Seventh Supplemental Indenture. The recitals and statements herein are deemed to be those of the Company
and the Note Guarantors and not those of the Trustee, and the Trustee assumes no responsibility for their correctness.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law, Etc</U>. This Seventh Supplemental Indenture shall be governed by the provisions set forth in Section&nbsp;11.7 of the Base
Indenture, <I>mutatis mutandis</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
In case any provision in this Seventh Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be
ineffective only to the extent of such invalidity, illegality or unenforceability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duplicate
and Counterpart Originals</U>. The parties may sign any number of copies of this Seventh Supplemental Indenture. One signed copy
is enough to prove this Seventh Supplemental Indenture. This Seventh Supplemental Indenture may be executed in any number of counterparts,
each of which so executed shall be an original, but all of them together represent the same agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 3.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
The headings of the Articles and Sections in this Seventh Supplemental Indenture have been inserted for convenience of reference
only, are not intended to be considered as a part hereof and shall not modify or restrict any of the terms or provisions hereof.</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">[<I>Signature Pages Follow</I>]</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">IN WITNESS WHEREOF, the parties have caused
this Seventh Supplemental Indenture to be duly executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"><B>&nbsp;</B></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="text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in"><B>MDC PARTNERS INC.</B>,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 46%; text-indent: 0in; font-weight: bold">as the Company</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-indent: 0in">/s/ Mitchell Gendel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name:&nbsp; Mitchell Gendel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:&nbsp; General Counsel &amp; Corporate Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Seventh Supplemental
Indenture]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 189pt; text-align: justify">&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: 50%; text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify; font-weight: bold; text-transform: uppercase">Accent Marketing Services, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Ashton Potter Canada Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Computer Composition of Canada LP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Crispin Porter &amp; Bogusky LLC </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Dotglu LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">KBP Holdings LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">kbs+p Canada LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">Kirshenbaum Bond Senecal &amp; Partners LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Maxxcom (USA) Holdings Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Maxxcom Inc. (US)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">MDC Acquisition Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">MDC Corporate (US) Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">MDC/KBP Acquisition Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">MF+P Acquisition Co.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">Redscout LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">RJ Palmer Partners LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">TargetCom LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">TC Acquisition Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase">Union Advertising Canada LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Varick Media Management LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">Yamamoto Moss Mackenzie, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold; text-transform: uppercase"><FONT STYLE="text-transform: uppercase">ZG Acquisition Inc.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0in"><B></B></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="text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-weight: bold">each as Note Guarantor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 41%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-indent: 0in">/s/ Mitchell Gendel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name:&nbsp; Mitchell Gendel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Seventh Supplemental
Indenture]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"><B>&nbsp;</B></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="text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-weight: bold">THE BANK OF NEW YORK MELLON,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 46%; text-indent: 0in; font-weight: bold">as Trustee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-indent: 0in">/s/ Latoya Elvin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name:&nbsp; Latoya Elvin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:&nbsp; Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Seventh Supplemental
Indenture]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-decoration: none">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM OF FACE OF NOTE]</P>

<P STYLE="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 FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL
INCOME TAX PURPOSES. THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT UNDER SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED, A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY
FOR THIS NOTE BY SUBMITTING A REQUEST FOR SUCH INFORMATION TO THE ISSUER AT THE FOLLOWING ADDRESS: MDC PARTNERS INC., 745 FIFTH
AVENUE, 19<SUP>th</SUP> FLOOR, NEW YORK, NEW YORK 10151, 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">THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED
TO HEREINAFTER.</P>

<P STYLE="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 THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&ldquo;DTC&rdquo;), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &amp; CO OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &amp; CO OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS AN INTEREST 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">[FOR RESTRICTED SECURITY] [TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR&rsquo;S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.</P>

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></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">THE SALE OF THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rsquo;), AND ACCORDINGLY, THIS NOTE MAY NOT BE OFFERED OR
SOLD EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF, THE HOLDER AGREES THAT (1) IT WILL NOT WITHIN THE
LATER OF (X) ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE NOTES, AND (Y) 90 DAYS AFTER IT CEASES TO BE AN AFFILIATE
(WITHIN THE MEANING OF RULE 144 UNDER THE SECURITIES ACT) OF THE ISSUER, OFFER, RESELL, PLEDGE OR OTHERWISE TRANSFER THE NOTE EVIDENCED
HEREBY, EXCEPT (A) TO THE ISSUER; (B) UNDER A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT;
(C) TO A PERSON THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT) THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, ALL IN COMPLIANCE WITH RULE 144A; (D) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR RULE 904 OF REGULATION S; OR (E) UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT; (2) IT WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS;
AND (3) IT WILL, PRIOR TO ANY TRANSFER OF THIS NOTE PURSUANT TO CLAUSE (D) WITHIN THE LATER OF (X) ONE YEAR AFTER THE LAST DATE
OF ORIGINAL ISSUANCE OF THE NOTES AND (Y) 90 DAYS AFTER IT CEASES TO BE AN AFFILIATE (WITHIN THE MEANING OF RULE 144 UNDER THE
SECURITIES ACT) OF THE ISSUER, FURNISH TO THE TRUSTEE AND THE ISSUER SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS
THEY MAY REQUIRE PURSUANT TO THE INDENTURE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO SUCH OTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. IN ANY EVENT, NO AFFILIATE OF THE ISSUER MAY PURCHASE
OR SELL THESE NOTES PRIOR TO THE DATE THAT IS ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE NOTES. THE RESTRICTIONS
SET FORTH IN THIS LEGEND SHALL CEASE TO HAVE EFFECT ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE NOTES, PROVIDED THAT
ALL HOLDERS AFTER SUCH DATE SHALL CONTINUE TO BE REQUIRED TO TRANSFER NOTES IN CONFORMITY WITH THE REQUIREMENTS OF APPLICABLE SECURITIES
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">UNLESS PERMITTED UNDER CANADIAN SECURITIES LAWS, THE HOLDER
OF THIS SECURITY MUST NOT TRADE THIS SECURITY IN OR TO A PERSON IN ANY PROVINCE OR TERRITORY OF CANADA BEFORE THE DATE THAT IS
FOUR MONTHS AND A DAY AFTER THE DATE OF THE ISSUANCE OF THIS 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">[FOR LEGENDED REGULATION S GLOBAL SECURITY] [THIS GLOBAL NOTE
IS A TEMPORARY GLOBAL NOTE FOR PURPOSES OF REGULATION S UNDER THE SECURITIES ACT. NEITHER THIS TEMPORARY GLOBAL NOTE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD, DELIVERED OR EXCHANGED FOR AN INTEREST IN A PERMANENT GLOBAL NOTE OR OTHER NOTE EXCEPT UPON DELIVERY
OF THE CERTIFICATIONS SPECIFIED IN THE 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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FACE OF NOTE</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">11% Senior Notes due 2016</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 STYLE="width: 50%">No.</TD>
    <TD STYLE="width: 50%; text-align: right">Principal Amount $______</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&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: 60%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: right">as revised by the Schedule of Increases and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">Decreases in Global Note attached hereto</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 1.32in">CUSIP NO.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 1.32in">ISIN NO.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">MDC Partners Inc., a corporation continued
under the laws of Canada (together with its successors and assigns, the &ldquo;<U>Company</U>&rdquo;) promises to pay to CEDE &amp;
CO., or registered assigns, the principal sum of $______ United States Dollars, as revised by the Schedule of Increases and Decreases
in Global Note attached hereto, on December 10, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in; text-indent: -1.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in; text-indent: -1.75in">Interest Payment Dates:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May
1 and November 1, commencing on May 1, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in; text-indent: -1.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in; text-indent: -1.75in">Record Dates:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 15 and
October 15</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in; text-indent: -1.75in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Additional provisions of this Note are set
forth on the other side of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&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="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">MDC PARTNERS INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 46%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">TRUSTEE&rsquo;S CERTIFICATE
OF</P>

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

<P STYLE="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 is one of the Notes referred to in the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">within-mentioned Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">THE BANK OF NEW YORK MELLON,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 5%">By:</TD>
    <TD STYLE="width: 40%; border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 6%">Date:</TD>
    <TD STYLE="width: 40%; border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM OF REVERSE SIDE OF NOTE]</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">11% Senior Notes due 2016</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capitalized terms used but not defined herein shall have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Interest</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">MDC Partners Inc., a corporation continued
under the laws of Canada (together with its successors and assigns, the &ldquo;<U>Company</U>&rdquo;) promises to pay interest
on the principal amount of this Note at the rate per annum shown above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company will pay interest semiannually
in arrears on each Interest Payment Date of each year commencing May 1, 2013; <I>provided</I> that if any such Interest Payment
Date is not a Business Day, then such payment shall be made on the next succeeding Business Day. Interest on the Notes will accrue
from, and including, the most recent date to which interest has been paid on the Notes or, if no interest has been paid, from,
and including, November 1, 2012. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy
Law) on overdue principal at the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (&ldquo;<U>Defaulted Interest</U>&rdquo;),
without regard to any applicable grace period, at the then applicable rate on the Notes. Interest will be computed on the basis
of a 360-day year of twelve 30-day months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">All payments made by the Company in respect
of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied
by or on behalf of any Taxing Authority, unless such withholding or deduction is required by law or by the interpretation or administration
thereof. In that event, the Company will pay to each Holder of the Notes Additional Amounts as provided in the Indenture subject
to the limitations set forth in the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Method
of Payment</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">By at least 10:00 a.m., New York City time,
on the date on which any principal of or interest on any Note is due and payable, the Company shall irrevocably deposit with the
Trustee or the Paying Agent money sufficient to pay such principal and/or interest. The Company will pay interest (except Defaulted
Interest) on the applicable Interest Payment Date to the Persons who are registered Holders of Notes at the close of business on
the Record Date preceding the Interest Payment Date even if Notes are canceled, repurchased or redeemed after the Record Date and
on or before the relevant Interest Payment Date, except as provided in <U>Section&nbsp;2.13</U> of the Base Indenture (as defined
below) with respect to Defaulted Interest. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company
will pay principal and interest in U.S. Legal Tender.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Payments in respect of Notes represented by
a Global Note (including principal and interest) will be made by the transfer of immediately available funds to the accounts specified
by the ITC. The Company will make all payments in respect of a Certificated Note (including principal and interest) by mailing
a check to the registered address of each registered Holder thereof as set forth in the Note Register; <I>provided</I>, <I>however</I>,
that payments on the Notes may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Notes,
by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment
by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than
15 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Paying
Agent and Registrar</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Initially, The Bank of New York Mellon, the
Trustee under the indenture, will act as Trustee, Paying Agent and Registrar. The Company may appoint and change any Paying Agent,
Registrar or co-Registrar without notice to any Holder. The Company, any Note Guarantor or any of their Affiliates may act as Paying
Agent, Registrar or co-Registrar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Indenture</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company issued the Notes under an, Indenture,
dated as of October 23, 2009 (the &ldquo;<U>Base Indenture</U>&rdquo;) (as supplemented by the First Supplemental Indenture dated
as of May 14, 2010, the Second Supplemental Indenture dated as of October 23, 2010, the Third Supplemental Indenture dated as of
April 19, 2011, the Fourth Supplemental Indenture dated as of May 2, 2011, the Fifth Supplemental Indenture dated as of September
19, 2011, the Sixth Supplemental Indenture dated as of March 23, 2012 and the Seventh Supplemental Indenture dated as of December
10, 2012, and as may be further amended, supplemented, waived or otherwise modified from time to time in accordance with the terms
thereof, the &ldquo;<U>Indenture</U>&rdquo;), among the Company, the Note Guarantors and the Trustee. The terms of the Notes include
those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms,
and Holders are referred to the Indenture and the TIA for a statement of those terms. Each Holder, by accepting a Note, agrees
to be bound by all of the terms and provisions of the Indenture, as amended or supplemented from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Notes are general unsecured obligations
of the Company of which $80,000,000 in aggregate principal amount will be issued on December 10, 2012 as Additional Notes, in addition
to the $225,000,000 in aggregate principal amount issued on October 23, 2009, the $65,000,000 in aggregate principal amount issued
on May 14, 2010 and the $55,000,000 in aggregate principal amount issued on April 19, 2011. Subject to the conditions set forth
in the Indenture and without the consent of the Holders, the Company may issue Additional Notes. All Notes will be treated as a
single class of securities under the Indenture. The Indenture imposes certain limitations on, among other things, the ability of
the Company and its Restricted Subsidiaries to: Incur Indebtedness, make Restricted Payments, create Liens, make Asset Sales, designate
Unrestricted Subsidiaries, enter into transactions with Affiliates, enter into Sale and Leaseback Transactions, or consolidate
or merge or transfer or convey all or substantially all of the Company&rsquo;s and its Restricted Subsidiaries&rsquo; assets.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">To guarantee the due and punctual payment
of the principal of, premium and interest on the Notes and all other amounts payable by the Company under the Indenture and the
Notes when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms
of the Notes and the Indenture, Accent Marketing Services, LLC, Ashton Potter Canada Inc., Computer Composition of Canada LP, Crispin
Porter &amp; Bogusky LLC, Dotglu LLC, KBP Holdings LLC, kbs+p Canada LP, Kirshenbaum Bond Senecal &amp; Partners LLC, Maxxcom (USA)
Holdings Inc., Maxxcom Inc. (US), MDC Acquisition Inc., MDC Corporate (US) Inc., MDC/KBP Acquisition Inc., MF+P Acquisition Co.,
Redscout LLC, RJ Palmer Partners LLC, TargetCom LLC, TC Acquisition Inc., Union Advertising Canada LP, Varick Media Management
LLC, Yamamoto Moss Mackenzie, Inc. and ZG Acquisition Inc. have unconditionally guaranteed (and each future Wholly Owned Subsidiary
will unconditionally guarantee), jointly and severally, such obligations pursuant to the terms of the Indenture. Each Note Guarantee
will be subject to release as provided in the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The obligations of each Note Guarantor in
respect of its Note Guarantee will be limited to the maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such Note Guarantor and after giving effect to any collections from or payments made by or on behalf of any other
Note Guarantor in respect of the obligations of such other Note Guarantor under its Note Guarantee or pursuant to its contribution
obligations under this Indenture, result in the obligations of such Note Guarantor under its Note Guarantee not constituting a
fraudulent conveyance, fraudulent transfer or similar illegal transfer under federal or state law or the law of the jurisdiction
of formation or incorporation of such Note Guarantor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Optional
Redemption</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Optional
Redemption</I>. Except as stated below, the Company may not redeem the Notes prior to November 1, 2013. The Company may redeem
the Notes, at its option, in whole at any time or in part from time to time, on and after November 1, 2013, at the following redemption
prices, expressed as percentages of the principal amount thereof, if redeemed during the twelve-month period commencing on November
1 of any year set forth below;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-left: 14%; border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left">Year</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-align: left">2013</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">105.500</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102.750</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">2015 and thereafter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.000</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Make-Whole
Redemption</I>. At any time prior to November 1, 2013, the Company may, at its option, redeem all or part of the Notes upon not
less than 30 nor more than 60 days&rsquo; prior notice at a redemption price equal to the sum of (i) 100% of the principal amount
thereof, <I>plus</I> (ii) the Applicable Premium as of the date of redemption, <I>plus</I> (iii) accrued and unpaid interest and
any Additional Interest, if any, to the date of redemption.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&ldquo;<U>Applicable Premium</U>&rdquo;
means, with respect to a Note at any date of redemption, the greater of (i) 1.0% of the principal amount of such Note and (ii)
the excess, if any, of (A) the present value at such date of redemption of (1) the redemption price of such Note on November 1,
2013 (such redemption price being described under this <U>Section&nbsp;5</U>) <I>plus</I> (2) all remaining required interest payments
due on such Note through November 1, 2013 (excluding accrued but unpaid interest to the date of redemption), computed using a discount
rate equal to the Treasury Rate plus 50 basis points, over (B) the then-Outstanding principal amount of such Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&ldquo;<U>Treasury Rate</U>&rdquo;
means, as of any redemption date, the yield to maturity as of such redemption date of United States Treasury securities with a
constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become
publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source of similar market data)) most nearly equal to the period from the redemption date to November 1,
2013; <I>provided</I>, <I>however</I>, that if the period from the redemption date to November 1, 2013 is less than one year, the
weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Optional
Redemption upon Equity Offerings</I>. At any time, or from time to time, on or prior to November 1, 2012, the Company may, at its
option, use the net cash proceeds of one or more Equity Offerings to redeem in the aggregate up to 35% of the aggregate principal
amount of the Notes issued under the Indenture at a redemption price equal to 111% of the principal amount thereof; <I>provided</I>
that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;after
giving effect to any such redemption at least 65% of the aggregate principal amount of the Notes issued under the Indenture remains
outstanding; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company will make such redemption not more than 90 days after the consummation of such Equity Offering</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Optional
Redemption for Changes in Withholding Taxes</I>. The Company may at any time, at its option, redeem, in whole but not in part,
the outstanding Notes at a redemption price of 100% of the principal amount thereof plus accrued and unpaid interest to the date
of redemption if it has become or would become obligated to pay any Additional Amounts (as defined in the Indenture) or any Reimbursement
Payments (as defined in the Indenture) in respect of the Notes as a result of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
change in or amendment to the laws (or regulations promulgated thereunder, rulings, technical interpretations, interpretation bulletins
or information circulars) of any Taxing Authority (as defined in the Indenture); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
change in or amendment to any official position regarding the application, administration or interpretation of such laws, regulations,
rulings, technical interpretations, interpretation bulletins or information circulars (including a holding, judgment or order by
a court of competent jurisdiction),</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">which change or amendment is announced or is effective on or
after the Issue Date (without regard to whether any Note Guarantor is or has been making any payments under the Notes prior to,
at or after the time such change or amendment is announced or effective).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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-indent: 1in">It shall be a condition to the Company&rsquo;s
right to redeem the Notes pursuant to the provisions set forth in the immediately preceding paragraph that, prior to giving any
notice of redemption of the Notes, the Company shall have delivered to the Trustee (a) an Officers&rsquo; Certificate stating that
the Company has determined in its reasonable judgment that the obligation to pay such Additional Amounts or Reimbursement Payments
cannot be avoided by the Company taking reasonable measures available to it and (b) an Opinion of Counsel that the circumstances
described in the immediately preceding paragraph exist. No such notice of redemption may be given more than 90 days before or more
than 365 days after the Company first becomes liable (or, if later, the earlier of the date on which it first becomes aware of
its liability or the date on which it reasonably should have become aware of its liability) to pay any Additional Amounts or Reimbursement
Payments as a result of a change or amendment described above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Optional
Redemption Procedures</I>. In the case of any partial redemption, selection of the Notes for redemption will be made in accordance
with <U>Article V</U> of the Base Indenture. On and after the redemption date, interest will cease to accrue on Notes or portions
thereof called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of the applicable
redemption price pursuant to the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Mandatory
Repurchase Provision</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Change
Of Control Offer</I>. Upon the occurrence of a Change of Control, each Holder of Notes will have the right to require that the
Company purchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess thereof (provided that the unpurchased
portion will be in a denomination of at least $2,000)) of the Holder&rsquo;s Notes at a purchase price equal to 101% of the principal
amount thereof, plus accrued and unpaid interest thereon through the date of purchase; <I>provided</I> that the Company will not
be required to purchase Notes upon the occurrence of a Change of Control in the event that it has exercised its right to redeem
all of the Notes in accordance with Section&nbsp;5 hereof or if a third party makes the Change of Control Offer subject to the
conditions set forth in the Indenture. Within 30 days following the date upon which the Change of Control occurred, the Company
must make a Change of Control Offer pursuant to a Change of Control Notice. As more fully described in the Indenture, the Change
of Control Notice shall state, among other things, the Change of Control Payment Date, which must be no earlier than 30 days nor
later than 60 days from the date the notice is mailed, other than as may be required by applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Asset
Sale Offer</I>. The Indenture imposes certain limitations on the ability of the Company and its Restricted Subsidiaries to make
Asset Sales. In the event the proceeds from a permitted Asset Sale exceed certain amounts and are not applied as specified in the
Indenture, the Company will be required to make an Asset Sale Offer to purchase to the extent of such remaining proceeds each Holder&rsquo;s
Notes together with holders of certain other Indebtedness at 100% of the principal amount thereof, plus accrued and unpaid interest
thereon to the Asset Sale Offer Payment Date, as more fully set forth in the Indenture.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Denominations;
Transfer; Exchange</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Notes are in fully registered form without
coupons, and only in denominations of principal amount of $2,000 and any integral multiple of $1,000 in excess thereof. A Holder
may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The
Registrar shall not be required to register the transfer or exchange of (i) (x) any Note for a period beginning: (1) 15 days before
the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing
or (2) 15 days before an Interest Payment Date and ending on such Interest Payment Date and (y) any Note selected for repurchase
or redemption, except the unrepurchased or unredeemed portion thereof, if any.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Persons
Deemed Owners</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The registered Holder of this Note may be
treated as the owner of it for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Unclaimed
Money</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If money for the payment of principal or interest
remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned
property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and
not to the Trustee for payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Discharge
Prior to Redemption or Maturity</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to certain conditions set forth in
the Indenture, the Company at any time may terminate some or all of its obligations under the Notes and the Indenture if the Company
deposits with the Trustee U.S. Legal Tender or U.S. Government Obligations for the payment of principal of and interest on the
Notes to redemption or maturity, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Amendment,
Waiver</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to certain exceptions set forth in
the Indenture, (i) the Indenture or the Notes may be amended or supplemented with the written consent of the Holders of at least
a majority in principal amount of the then Outstanding Notes and (ii) any default (other than with respect to nonpayment or in
respect of a provision that cannot be amended or supplemented without the written consent of each Holder affected) or noncompliance
with any provision may be waived with the written consent of the Holders of a majority in aggregate principal amount of the then
Outstanding Notes. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Company and
the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, omission, defect or
inconsistency, or to comply with <U>Article IV</U> of the Base Indenture, or to provide for uncertificated Notes in addition to
or in place of Certificated Notes, or to add Note Guarantees with respect to the Notes or to secure the Notes, or to add additional
covenants of the Company or the Note Guarantors for the benefit of the Holders or surrender rights and powers conferred on the
Company or the Note Guarantors, or to comply with any requirements of the Commission in connection with qualifying the Indenture
under the TIA, or to make any change that does not adversely affect the rights of any Holder in any material respect, or to provide
for the issuance of Exchange Notes or Additional Notes, or to conform the text of the Indenture, Note Guarantees or the Notes to
any provision of the &ldquo;Description of Notes&rdquo; section of the Offering Circular to the extent that such provision in such
&ldquo;Description of Notes&rdquo; section was intended to be a verbatim recitation of a provision of the Indenture, the Note Guarantees
or the Notes, or to make any amendment to the provisions of the Indenture relating to the transfer and legending of Notes as permitted
by the Indenture, including, without limitation, to facilitate the issuance and administration of the Notes; <I>provided</I>, <I>however</I>,
that (i) compliance with the Indenture as so amended would not result in Notes being transferred in violation of the Securities
Act or any applicable securities laws and (ii) such amendment does not materially and adversely affect the rights of Holders to
transfer Notes.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Defaults
and Remedies</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If an Event of Default occurs and is continuing,
the Trustee or the Holders of at least 25% in principal amount of Outstanding Notes may declare all the Notes to be due and payable
immediately, Certain events of bankruptcy or insolvency are Events of Default, which will result in the Notes being due and payable
immediately upon the occurrence of such Events of Default.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Holders may not enforce the Indenture or the
Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity
satisfactory to it. Subject to certain limitations, Holders of a majority in principal amount of the Outstanding Notes may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event
of Default (except a Default or Event of Default in payment of principal or interest) if it determines that withholding notice
is in their interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Trustee
Dealings with the Company and the Note Guarantors</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to certain limitations set forth in
the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes
and may otherwise deal with and collect obligations owed to it by the Company, any Note Guarantor or their Affiliates and may otherwise
deal with the Company, any Note Guarantor or their Affiliates with the same rights it would have if it were not Trustee. Any Paying
Agent, Registrar or co-Registrar may do the same with like rights,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No
Recourse Against Others</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">An incorporator, director, officer, employee,
stockholder or controlling Person, as such, of the Company or any Note Guarantor will not have any liability for any obligations
of the Company or any Note Guarantor under the Notes (including the Note Guarantees) or this Indenture or for any claims based
on, in respect of, or by reason of, such obligations or their creation. By accepting a Note, each Holder waives and releases all
such liability. The waiver and release are part of the consideration for issuance of the Notes.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Authentication</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">This Note shall not be valid until an authorized
signatory of the Trustee (or an Authenticating Agent) manually signs the certificate of authentication on the other side of this
Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Abbreviations</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Customary abbreviations may be used in the
name of a Holder or an assignee, such as TEN COM (= tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants
with rights of survivorship and not as tenants in common), CUST (=custodian) and U/G/M/A (= Uniform Gift to Minors Act).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>CUSIP
or ISIN Numbers</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures the Company has caused CUSIP, ISIN or other similar numbers to be printed
on the Notes and has directed the Trustee to use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience
to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any
notice of redemption and reliance may be placed only on the other identification numbers placed thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Governing
Law</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">This Note shall be governed by, and construed
in accordance with, the laws of the State of New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Currency
of Account, Conversion of Currency</U><FONT STYLE="text-underline-style: none">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">U.S. Legal Tender is the sole currency of
account and payment for all sums payable by the Company and the Note Guarantors under or in connection with the Notes or the Indenture,
including damages. The Company and the Note Guarantors will indemnify the Holders as provided in respect of the conversion of currency
relating to the Notes and the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="text-underline-style: none">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Agent
for Service; Submission to Jurisdiction; Waiver of Immunities</U><FONT STYLE="text-underline-style: none">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company and the Note Guarantors have agreed
that any suit, action or proceeding against the Company brought by any Holder or the Trustee arising out of or based upon the Indenture
or the Notes may be instituted in any state or federal court in the Borough of Manhattan, New York City, New York. The Company
and the Note Guarantors have irrevocably submitted to the non-exclusive jurisdiction of such courts for such purpose and waived,
to the fullest extent permitted by law, trial by jury and any objection they may now or hereafter have to the laying of venue of
any such proceeding, and any claim they may now or hereafter have that any proceeding in any such court is brought in an inconvenient
forum. The Company and the Note Guarantors have appointed Corporation Service Company as each of their authorized agent upon whom
all writs, process and summonses may be served in any suit, action or proceeding arising out of or based upon the Indenture or
the Notes which may be instituted in any federal or state court in the Borough of Manhattan, New York City. To the extent that
any of the Company and the Note Guarantors has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action,
suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment
in aid or otherwise) with respect to itself or any of its property, each of the Company and the Note Guarantors has irrevocably
waived and agreed not to plead or claim such immunity in respect of their obligations under the Indenture or the Notes.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company will furnish to any Holder upon
written request and without charge to the Holder a copy of the Indenture which has in it the text of this Note in larger type.
Requests may be made to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&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">c/o <B>MDC Partners Inc.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">745 Fifth Avenue, 19th Floor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">New York, New York&nbsp; 10151</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 10%">Attention:</TD>
    <TD STYLE="width: 76%">General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Telephone:</TD>
    <TD>(646) 429-1800</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Facsimile:</TD>
    <TD>(212) 937-4365</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

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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">SCHEDULE A</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">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
NOTE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The following increases or decreases in this
Global Note have been made:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD NOWRAP STYLE="width: 6%; font-size: 8pt">Date of</TD>
    <TD NOWRAP STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 24%; font-size: 8pt">Amount of decrease in Principal</TD>
    <TD NOWRAP STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 23%; font-size: 8pt">Amount of increase in Principal</TD>
    <TD NOWRAP STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 23%; font-size: 8pt">Principal Amount of this Global</TD>
    <TD NOWRAP STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; font-size: 8pt">Signature of authorized</TD></TR>
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD NOWRAP STYLE="font-size: 8pt">Exchange</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">Amount of this Global Note</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">Amount of this Global Note</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">Note following such decrease or</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">signatory of Trustee or Note</TD></TR>
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">Increase</TD>
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 8pt">Custodian</TD></TR>
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD NOWRAP STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 8pt">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>v329963_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MDC Partners Inc.</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"><FONT STYLE="font-size: 12pt"><B>11% Senior
Notes due 2016</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>payment
of principal, premium,<BR>
if any, and interest by</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>the Guarantors
listed in Exhibit C hereto</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________</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><I><U>Exchange and Registration Rights
Agreement</U></I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>&#9;</B>December 10, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">J.P. Morgan Securities LLC,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify">As representative of the several
Purchasers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-align: justify">named in Exhibit D hereto</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o J.P. Morgan Securities LLC<SUP> </SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">383 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10179</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">MDC Partners Inc.,
a corporation continued under the laws of Canada (the <I>&ldquo;Company&rdquo;</I>), proposes to issue and sell to the Purchasers
(as defined herein) upon the terms set forth in the Purchase Agreement (as defined herein) $80,000,000 in aggregate principal amount
of its 11% Senior Notes due 2016, which are unconditionally guaranteed by the Guarantors listed in Exhibit C hereto (the <I>&ldquo;Guarantors&rdquo;</I>).
These notes constitute a further issuance of, and will be consolidated and form a single series with, the $345,000,000 11% Senior
Notes due 2016 issued by the Company on October 23, 2009, May 14, 2010 and April 19, 2011 (such notes collectively, together with
the guarantee provided by each of the Guarantors in the Indenture, the &ldquo;<I>Existing Securities</I>&rdquo;, and, when registered
under a freely transferable CUSIP number under the terms of the Exchange and Registration Rights Agreement dated October 23, 2009,
May 11, 2010 and April 19, 2011, respectively, the &ldquo;<I>Existing Exchange Securities</I>&rdquo;). As an inducement to the
Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder,
the Company and the Guarantors agree with the Purchasers for the benefit of holders (as defined herein) from time to time of the
Registrable Securities (as defined herein) as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&#9;<I>Certain Definitions</I>.
For purposes of this Exchange and Registration Rights Agreement (this <I>&ldquo;Agreement&rdquo;</I>), the following terms shall
have the following respective meanings:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Base
Interest&rdquo;</I> shall mean the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture,
without giving effect to the provisions of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">The term
<I>&ldquo;broker-dealer&rdquo;</I> shall mean any broker or dealer registered with the Commission under the Exchange Act.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Business
Day&rdquo;</I> shall have the meaning set forth in Rule&nbsp;13e-4(a)(3) promulgated by the Commission under the Exchange Act,
as the same may be amended or succeeded from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Closing
Date&rdquo;</I> shall mean the date on which the Securities are initially issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Commission&rdquo;</I>
shall mean the United States Securities and Exchange Commission, or any other federal agency at the time administering the Exchange
Act or the Securities Act, whichever is the relevant statute for the particular purpose.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;DTC&rdquo;
</I>means The Depository Trust Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;EDGAR
System&rdquo;</I> means the EDGAR filing system of the Commission and the rules and regulations pertaining thereto promulgated
by the Commission in Regulation S-T under the Securities Act and the Exchange Act, in each case as the same may be amended or succeeded
from time to time (and without regard to format).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Effective
Time,&rdquo;</I> in the case of (i)&nbsp;an Exchange Registration, shall mean the time and date as of which the Commission declares
the Exchange Registration Statement effective or as of which the Exchange Registration Statement otherwise becomes effective and
(ii)&nbsp;a Shelf Registration, shall mean the time and date as of which the Commission declares the Shelf Registration Statement
effective or as of which the Shelf Registration Statement otherwise becomes effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Electing
Holder&rdquo;</I> shall mean any holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire
to the Company in accordance with Section&nbsp;3(d)(ii) or Section&nbsp;3(d)(iii) and the instructions set forth in the Notice
and Questionnaire.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Exchange
Act&rdquo;</I> shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission
thereunder, as the same may be amended or succeeded from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Exchange
Offer&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Exchange
Registration&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;3(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Exchange
Registration Statement&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Exchange
Securities&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-weight: normal">&ldquo;<I>Freely
Transferable</I>&rdquo; means, with respect to a Security, a Security that at any time of determination (i) is freely transferable
without volume restrictions by a holder that is not an &ldquo;affiliate&rdquo; (as defined in Rule 144 under the 1933 Act (&ldquo;Rule
144&rdquo;)) of the Company where no conditions of Rule 144 are then applicable (other than the holding period requirement in paragraph
(d)(1)(ii) of Rule 144 so long as such holding period requirement is satisfied at such time of determination) in accordance with
Rule 144 , or otherwise, (ii) whose restrictive legend relating to the 1933 Act has been removed and (iii) does not bear a restricted
CUSIP number.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Guarantor&rdquo;</I>
shall have the meaning assigned thereto in the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">The term
<I>&ldquo;holder&rdquo;</I> shall mean each of the Purchasers and other persons who acquire Securities from time to time (including
any successors or assigns), in each case for so long as such person owns any Securities.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Indenture&rdquo;</I>
shall mean collectively the trust indenture, dated as of October 23, 2009, among the Company,&nbsp;the Guarantors and The Bank
of New York Mellon, as trustee, as supplemented by the First Supplemental Indenture dated as of May 14, 2010, the Second Supplemental
Indenture dated as of October 23, 2010, the Third Supplemental Indenture dated as of April 19, 2011, the Fourth Supplemental Indenture
dated as of May 2, 2011, the Fifth Supplemental Indenture dated as of September 19, 2011, the Sixth Supplemental Indenture dated
as of March 23, 2012 and the Seventh Supplemental Indenture dated as of December 10, 2012, as the same may be amended from time
to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Notice
and Questionnaire&rdquo;</I> means a Notice of Registration Statement and Selling Securityholder Questionnaire substantially in
the form of Exhibit A hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">The term
<I>&ldquo;person&rdquo;</I> shall mean a corporation, limited liability company, association, partnership, organization, business,
individual, government or political subdivision thereof or governmental agency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Purchase
Agreement&rdquo;</I> shall mean the Purchase Agreement, dated as of December 6, 2012 among the Purchasers, the Company and the
Guarantors relating to the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Purchasers&rdquo;</I>
shall mean the Purchasers named in Schedule I to the Purchase Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Registrable
Securities&rdquo;</I> shall mean the Securities; <I>provided, however,</I> that a Security shall cease to be a Registrable Security
upon the earliest to occur of the following: (i)&nbsp;in the circumstances contemplated by Section&nbsp;2(a), the Security has
been exchanged for an Exchange Security in an Exchange Offer as contemplated in Section&nbsp;2(a); (ii) in the circumstances contemplated
by Section&nbsp;2(b), a Shelf Registration Statement registering such Security under the Securities Act has been declared or becomes
effective and such Security has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated
by such effective Shelf Registration Statement; (iii)&nbsp;when such Security is Freely Transferable or (iv) when such Security
shall cease to be outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Registration
Default&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Registration
Default Period&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Registration
Expenses&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;4.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Resale
Period&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Restricted
Holder&rdquo;</I> shall mean (i)&nbsp;a holder that is an affiliate of the Company within the meaning of Rule&nbsp;405, (ii)&nbsp;a
holder who acquires Exchange Securities outside the ordinary course of such holder&rsquo;s business, (iii)&nbsp;a holder who has
arrangements or understandings with any person to participate in the Exchange Offer for the purpose of distributing Exchange Securities
and (iv) a holder that is a broker-dealer, but only with respect to Exchange Securities received by such broker-dealer pursuant
to an Exchange Offer in exchange for Registrable Securities acquired by the broker-dealer directly from the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Rule&nbsp;144,&rdquo;
&ldquo;Rule&nbsp;405&rdquo;, &ldquo;Rule&nbsp;415&rdquo;, &ldquo;Rule&nbsp;424&rdquo;, &ldquo;Rule&nbsp;430B&rdquo;</I> and <I>&ldquo;Rule&nbsp;433&rdquo;</I>
shall mean, in each case, such rule promulgated by the Commission under the Securities Act (or any successor provision), as the
same may be amended or succeeded from time to time.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Securities&rdquo;</I>
shall mean, collectively, the $80,000,000 in aggregate principal amount of the Company&rsquo;s 11% Senior Notes due 2016 to be
issued and sold to the Purchasers pursuant to the Purchase Agreement dated December 6, 2012, and securities issued in exchange
therefor or in lieu thereof pursuant to the Indenture. Each Security is entitled to the benefit of the guarantee provided by each
of the Guarantors in the Indenture (the &ldquo;<I>Guarantees</I>&rdquo;) and, unless the context otherwise requires, any reference
herein to a &ldquo;Security,&rdquo; an &ldquo;Exchange Security&rdquo; or a &ldquo;Registrable Security&rdquo; shall include a
reference to the related Guarantees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Securities
Act&rdquo;</I> shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder,
as the same may be amended or succeeded from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Shelf
Registration&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Shelf
Registration Statement&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Special
Interest&rdquo;</I> shall have the meaning assigned thereto in Section&nbsp;2(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Trust
Indenture Act&rdquo;</I> shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations promulgated by the
Commission thereunder, as the same may be amended or succeeded from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><I>&ldquo;Trustee&rdquo;</I>
shall mean The Bank of New York Mellon, as trustee under the Indenture, together with any successors thereto in such capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Unless the context otherwise
requires, any reference herein to a &ldquo;Section&rdquo; or &ldquo;clause&rdquo; refers to a Section or clause, as the case may
be, of this Agreement, and the words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo; and other words of
similar import refer to this Agreement as a whole and not to any particular Section or other subdivision.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&#9;<I>Registration
Under the Securities Act</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a) &#9;<FONT STYLE="font-family: Times New Roman, Times, Serif">Except
as set forth in Section&nbsp;2(b) below, and to the extent there are Registrable Securities outstanding on the fifth Business Day
after the one year anniversary of the Closing Date, the Company and the Guarantors agree to file under the Securities Act a registration
statement relating to an offer to exchange (such registration statement, the <I>&ldquo;Exchange Registration Statement&rdquo;</I>,
and such offer, the <I>&ldquo;Exchange Offer&rdquo;</I>) any and all of the Securities for a like aggregate principal amount of
debt securities issued by the Company and guaranteed by the Guarantors, which debt securities and guarantees are substantially
identical to the Securities and the related Guarantees, respectively (and are entitled to the benefits of the Indenture), except
that they have been registered pursuant to an effective registration statement under the Securities Act and do not contain provisions
for Special Interest contemplated in Section&nbsp;2(c) below (such new debt securities hereinafter called <I>&ldquo;Exchange Securities&rdquo;</I>).
The Company and the Guarantors agree to use all commercially reasonable efforts to cause the Exchange Registration Statement to
become effective under the Securities Act as promptly as practicable and no later than 45 calendar days after the Effective Time
of such Exchange Registration Statement. The Exchange Offer will be registered under the Securities Act on the appropriate form
and will comply with all applicable tender offer rules and regulations under the Exchange Act. Unless the Exchange Offer would
not be permitted by applicable law or Commission policy, the Company further agrees to use all commercially reasonable efforts
to (i)&nbsp;commence the Exchange Offer promptly following the Effective Time of such Exchange Registration Statement, (ii)&nbsp;hold
the Exchange Offer open for at least 30 calendar days in accordance with Regulation 14E promulgated by the Commission under the
Exchange Act and (iii)&nbsp;exchange Exchange Securities for all Registrable Securities that have been properly tendered and not
withdrawn promptly following the expiration of the Exchange Offer. The Exchange Offer will be deemed to have been &ldquo;completed&rdquo;
only (i)&nbsp;if the debt securities and related guarantees received by holders other than Restricted Holders in the Exchange Offer
for Registrable Securities are, upon receipt, transferable by each such holder without restriction under the Securities Act and
the Exchange Act and without material restrictions under the blue sky or securities laws of a substantial majority of the States
of the United States of America and (ii) upon the Company having exchanged, pursuant to the Exchange Offer, Exchange Securities
for all Registrable Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offer,
which shall be on a date that is at least 30 calendar days following the commencement of the Exchange Offer. The Company and the
Guarantors agree (x) to include in the Exchange Registration Statement a prospectus for use in any resales by any holder of Exchange
Securities that is a broker-dealer and (y) to keep such Exchange Registration Statement effective for a period (the <I>&ldquo;Resale
Period&rdquo;</I>) beginning when Exchange Securities are first issued in the Exchange Offer and ending upon the earlier of the
expiration of the 90<SUP>th</SUP> day after the Exchange Offer has been completed or such time as such broker-dealers no longer
own any Registrable Securities. With respect to such Exchange Registration Statement, such holders shall have the benefit of the
rights of indemnification and contribution set forth in Subsections&nbsp;6(a), (c), (d) and (e).</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b) &#9;<FONT STYLE="font-family: Times New Roman, Times, Serif">If
(i) the Securities are Registrable Securities and (ii) on or prior to the time the Exchange Offer is completed, existing law or
Commission interpretations are changed such that the debt securities or the related guarantees received by holders other than Restricted
Holders in the Exchange Offer for Registrable Securities are not or would not be, upon receipt, transferable by each such holder
without restriction under the Securities Act, (iii) the Exchange Offer has not been completed within 45 days of the fifth Business
Day after first anniversary of the Closing Date or (iv) any holder of Registrable Securities notifies the Company prior to the
20<SUP>th</SUP> Business Day following the completion of the Exchange Offer that: (A)&nbsp;it is prohibited by law or Commission
policy from participating in the Exchange Offer, (B)&nbsp;it may not resell the Exchange Securities to the public without delivering
a prospectus and the prospectus supplement contained in the Exchange Registration Statement is not appropriate or available for
such resales or (C) it is a broker-dealer and owns Securities acquired directly from the Company or an affiliate of the Company,
then the Company and the Guarantors shall, in lieu of (or, in the case of clause (iv), in addition to) conducting the Exchange
Offer contemplated by Section&nbsp;2(a), file under the Securities Act as promptly as practicable, a &ldquo;shelf&rdquo; registration
statement providing for the registration of, and the sale on a continuous or delayed basis by the holders of, all of the Registrable
Securities, pursuant to Rule&nbsp;415 or any similar rule that may be adopted by the Commission (such filing, the <I>&ldquo;Shelf
Registration&rdquo;</I> and such registration statement, the <I>&ldquo;Shelf Registration Statement&rdquo;</I>). The Company and
the Guarantors agree to use all commercially reasonable efforts to cause the Shelf Registration Statement to become or be declared
effective no later than 90 days after such Shelf Registration Statement filing obligation arises; <I>provided</I>, that if at any
time the Company is or becomes a &ldquo;well-known seasoned issuer&rdquo; (as defined in Rule&nbsp;405) and is eligible to file
an &ldquo;automatic shelf registration statement&rdquo; (as defined in Rule&nbsp;405), then the Company and the Guarantors shall
file the Shelf Registration Statement in the form of an automatic shelf registration statement as provided in Rule&nbsp;405. The
Company and the Guarantors agree to use all commercially reasonable efforts to keep such Shelf Registration Statement continuously
effective until such time as there are no longer any Registrable Securities outstanding. No holder shall be entitled to be named
as a selling securityholder in the Shelf Registration Statement or to use the prospectus forming a part thereof for resales of
Registrable Securities unless such holder is an Electing Holder. The Company and the Guarantors agree, after the Effective Time
of the Shelf Registration Statement and promptly upon the request of any holder of Registrable Securities that is not then an Electing
Holder, to use all commercially reasonable efforts to enable such holder to use the prospectus forming a part thereof for resales
of Registrable Securities, including, without limitation, any action necessary to identify such holder as a selling securityholder
in the Shelf Registration Statement (whether by post-effective amendment thereto or by filing a prospectus pursuant to Rules 430B
and 424(b) under the Securities Act identifying such holder), <I>provided, however,</I> that nothing in this sentence shall (A)
relieve any such holder of the obligation to return a completed and signed Notice and Questionnaire to the Company in accordance
with Section&nbsp;3(d)(iii) or (B) require the Company or the Guarantors to file more than one post-effective amendment to the
Shelf Registration Statement in any 30 day period. Notwithstanding anything to the contrary in this Section 2(b), (A) no holder
of Registrable Securities may include any of its Registrable Securities in any Shelf Registration Statement pursuant to this Agreement
unless and until such holder furnishes to the Company in writing, within 20 Business Days after receipt of a request therefor,
such information as the Company may reasonably request for use in connection with any Shelf Registration Statement, prospectus
or preliminary prospectus and such holder agrees to furnish promptly to the Company all information required to be disclosed in
order to make the information previously furnished to the Company by such holder not materially misleading and (B) upon notice
to the Electing Holders, the Company may suspend the use or the effectiveness of such Shelf Registration Statement, or extend the
time period in which it is required to file the Shelf Registration Statement for one or more periods up to 60 days in the aggregate
in any 12-month period (each, a &ldquo;<I>Suspension Period</I>&rdquo;) if the Board of Directors of the Company determines that
there is a valid business purpose for suspension of the Shelf Registration Statement; <I>provided</I> that the Company shall promptly
notify the Electing Holders when the Shelf Registration Statement may once again be used or is effective. </FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)
&#9;</FONT>In the event that (i) the Company and the Guarantors have not filed the Exchange Registration Statement or the Shelf
Registration Statement on or before the date on which such registration statement is required to be filed pursuant to Section&nbsp;2(a)
or Section&nbsp;2(b), respectively, or (ii) such Exchange Registration Statement or Shelf Registration Statement has not become
effective or been declared effective by the Commission on or before the date on which such registration statement is required to
become or be declared effective pursuant to Section&nbsp;2(a) or Section&nbsp;2(b), respectively, or (iii) the Exchange Offer has
not been completed within 45 calendar days after the Effective Time of the Exchange Registration Statement relating to the Exchange
Offer (if the Exchange Offer is then required to be made) or (iv)&nbsp;any Exchange Registration Statement or Shelf Registration
Statement required by Section&nbsp;2(a) or Section&nbsp;2(b) is filed and declared effective but shall thereafter either be withdrawn
by the Company or shall become subject to an effective stop order issued pursuant to Section&nbsp;8(d) of the Securities Act suspending
the effectiveness of such registration statement (except as specifically permitted herein including with respect to any Shelf Registration
Statement during any applicable Suspension Period in accordance with the last sentence of Section 2(b)) without being succeeded
immediately by an additional registration statement filed and declared effective for more than 60 calendar days in any 12 month
period prior to the time the Securities cease to be Registrable Securities (each such event referred to in clauses (i) through
(iv), a <I>&ldquo;Registration Default&rdquo;</I> and each period during which a Registration Default has occurred and is continuing,
a <I>&ldquo;Registration Default Period&rdquo;</I>), then, as liquidated damages for such Registration Default, subject to the
provisions of Section&nbsp;9(b), special interest (<I>&ldquo;Special Interest&rdquo;</I>), in addition to the Base Interest, shall
accrue on all Registrable Securities then outstanding at a per annum rate of 0.25% for the first 90 days of the Registration Default
Period, at a per annum rate of 0.50% for the second 90 days of the Registration Default Period, at a per annum rate of 0.75% for
the third 90 days of the Registration Default Period and at a per annum rate of 1.0% thereafter for the remaining portion of the
Registration Default Period; <I>provided</I>, <I>however</I>, that upon the exchange of the Exchange Securities for all Registrable
Securities tendered, or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective,
Special Interest on the Registrable Securities in respect of which such Registration Default exists shall cease to accrue. Special
Interest shall accrue and be payable only with respect to a single Registration Default at any given time, notwithstanding the
fact that multiple Registration Defaults may exist at such time. The accrual of Special Interest shall be the exclusive monetary
remedy available to the holders of Registrable Securities for any Registration Default. Notwithstanding anything to the contrary
in this Section 2(c), the Company shall not be obligated to pay Special Interest in this Section 2(c) during a Suspension Period
permitted by Section 2(b) hereof.</P>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(d) &#9;<FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company shall take, and shall cause the Guarantors to take, all actions necessary or advisable to be taken by it to ensure that
the transactions contemplated herein are effected as so contemplated, including all actions necessary or desirable to register
the Guarantees under any Exchange Registration Statement or Shelf Registration Statement, as applicable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(e) &#9;<FONT STYLE="font-family: Times New Roman, Times, Serif">Any
reference herein to a registration statement or prospectus as of any time shall be deemed to include any document incorporated,
or deemed to be incorporated, therein by reference as of such time; and any reference herein to any post-effective amendment to
a registration statement or to any prospectus supplement as of any time shall be deemed to include any document incorporated, or
deemed to be incorporated, therein by reference as of such time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&#9;<I>Registration
Procedures</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the Company and
the Guarantors file a registration statement pursuant to Section&nbsp;2(a) or Section&nbsp;2(b), the following provisions shall
apply:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&#9;At
or before the Effective Time of the Exchange Registration or any Shelf Registration, whichever may occur first, the Company shall
qualify the Indenture under the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b)&#9;&nbsp;&nbsp;&nbsp;In
the event that such qualification would require the appointment of a new trustee under the Indenture, the Company shall appoint
a new trustee thereunder pursuant to the applicable provisions of the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(c)&nbsp;&nbsp;&#9;In
connection with the Company&rsquo;s and the Guarantors&rsquo; obligations with respect to the registration of Exchange Securities
as contemplated by Section&nbsp;2(a) (the <I>&ldquo;Exchange Registration&rdquo;</I>), if applicable, the Company and the Guarantors
shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;prepare
and file with the Commission, no later than 45 days after the fifth Business Day following the one year anniversary of the Closing
Date, an Exchange Registration Statement on any form which may be utilized by the Company and the Guarantors and which shall permit
the Exchange Offer and resales of Exchange Securities by broker-dealers during the Resale Period to be effected as contemplated
by Section&nbsp;2(a), and use all commercially reasonable efforts to cause such Exchange Registration Statement to become effective
no later than 45 days after the Effective Time of such Exchange Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;as
soon as practicable prepare and file with the Commission such amendments and supplements to such Exchange Registration Statement
and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Registration
Statement for the periods and purposes contemplated in Section&nbsp;2(a) and as may be required by the applicable rules and regulations
of the Commission and the instructions applicable to the form of such Exchange Registration Statement, and promptly provide each
broker-dealer holding Exchange Securities with such number of copies of the prospectus included therein (as then amended or supplemented),
in conformity in all material respects with the requirements of the Securities Act and the Trust Indenture Act, as such broker-dealer
reasonably may request prior to the expiration of the Resale Period, for use in connection with resales of Exchange Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;promptly
notify each broker-dealer that has requested or received copies of the prospectus included in such Exchange Registration Statement,
and confirm such advice in writing, (A)&nbsp;when such Exchange Registration Statement or the prospectus included therein or any
prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Exchange Registration
Statement or any post-effective amendment, when the same has become effective, (B)&nbsp;of any comments by the Commission and by
the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments
or supplements to such Exchange Registration Statement or prospectus or for additional information, (C)&nbsp;of the issuance by
the Commission of any stop order suspending the effectiveness of such Exchange Registration Statement or the initiation or threatening
of any proceedings for that purpose, (D)&nbsp;if at any time the representations and warranties of the Company contemplated by
Section&nbsp;5 cease to be true and correct in all material respects, (E)&nbsp;of the receipt by the Company of any notification
with respect to the suspension of the qualification of the Exchange Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose, (F)&nbsp;the occurrence of any event that causes the Company to become an &ldquo;ineligible
issuer&rdquo; as defined in Rule&nbsp;405, or (G)&nbsp;if at any time during the Resale Period when a prospectus is required to
be delivered under the Securities Act, that such Exchange Registration Statement, prospectus, prospectus amendment or supplement
or post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and
the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&#9;in
the event that the Company and the Guarantors would be required, pursuant to Section&nbsp;3(c)(iii)(G), to notify any broker-dealers
holding Exchange Securities (except as otherwise permitted during any Suspension Period), promptly prepare and furnish to each
such holder a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to purchasers
of such Exchange Securities during the Resale Period, such prospectus shall conform in all material respects to the applicable
requirements of the Securities Act and the Trust Indenture Act and shall 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 in light
of the circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&#9;use
all commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Exchange Registration
Statement or any post-effective amendment thereto at the earliest practicable date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&#9;use
all commercially reasonable efforts to (A)&nbsp;register or qualify the Exchange Securities under the securities laws or blue sky
laws of such jurisdictions as are contemplated by Section&nbsp;2(a) no later than the commencement of the Exchange Offer, to the
extent required by such laws, (B)&nbsp;keep such registrations or qualifications in effect and comply with such laws so as to permit
the continuance of offers, sales and dealings therein in such jurisdictions until the expiration of the Resale Period, (C)&nbsp;take
any and all other actions as may be reasonably necessary or advisable to enable each broker-dealer holding Exchange Securities
to consummate the disposition thereof in such jurisdictions and (D)&nbsp;obtain the consent or approval of each governmental agency
or authority, whether federal, state or local, which may be required to effect the Exchange Registration, the Exchange Offer and
the offering and sale of Exchange Securities by broker-dealers during the Resale Period; <I>provided, however,</I> that neither
the Company nor the Guarantors shall be required for any such purpose to (1)&nbsp;qualify as a foreign corporation in any jurisdiction
wherein it would not otherwise be required to qualify but for the requirements of this Section&nbsp;3(c)(vi), (2)&nbsp;consent
to general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction or (3)&nbsp;make
any changes to its certificate of incorporation or by-laws or other governing documents or any agreement between it and its stockholders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;to
the extent permitted by DTC and applicable law, register all Exchange Securities under the <FONT STYLE="color: black">CUSIP number
for </FONT>the Existing <FONT STYLE="color: black">Exchange Securities, or, if the Company fails to register the securities under
such CUSIP number, obtain a new unrestricted CUSIP number for such Exchange Securities, in either case not later than the applicable
Effective Time; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;comply
with all applicable rules and regulations of the Commission, and make generally available to its securityholders no later than
eighteen months after the Effective Time of such Exchange Registration Statement, an &ldquo;earning statement&rdquo; of the Company
and its subsidiaries complying with Section&nbsp;11(a) of the Securities Act (including, at the option of the Company, Rule&nbsp;158
thereunder); <I>provided</I>, <I>however</I>, that this requirement shall be deemed to be satisfied by the Company&rsquo;s compliance
with Section 3.16 of the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(d)&#9;In
connection with the Company&rsquo;s and the Guarantor&rsquo;s obligations with respect to the Shelf Registration, if applicable,
the Company and the Guarantor shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&#9;prepare
and file with the Commission, within the time periods specified in Section&nbsp;2(b), a Shelf Registration Statement on any form
which may be utilized by the Company and which shall register all of the Registrable Securities for resale by the holders thereof
in accordance with such method or methods of disposition as may be specified by the holders of Registrable Securities as, from
time to time, may be Electing Holders and use all commercially reasonable efforts to cause such Shelf Registration Statement to
become effective within the time periods specified in Section&nbsp;2(b);<B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;mail
the Notice and Questionnaire to the holders of Registrable Securities not less than 30 days prior to the anticipated Effective
Time of the Shelf Registration Statement, and no holder shall be entitled to be named as a selling securityholder in the Shelf
Registration Statement, and no holder shall be entitled to use the prospectus forming a part thereof for resales of Registrable
Securities at any time, unless and until such holder has returned a completed and signed Notice and Questionnaire to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;after
the Effective Time of the Shelf Registration Statement, upon the request of any holder of Registrable Securities that is not then
an Electing Holder, promptly send a Notice and Questionnaire to such holder; <I>provided</I> that the Company shall not be required
to (A) take any action to name such holder as a selling securityholder in the Shelf Registration Statement or to enable such holder
to use the prospectus forming a part thereof for resales of Registrable Securities until such holder has returned a completed and
signed Notice and Questionnaire to the Company and (B) nothing in this clause (iii) shall require the Company or the Guarantors
to file a post-effective amendment to the Shelf Registration Statement more than once in any 30-day period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(iv)&#9;&nbsp;&nbsp;&nbsp;&nbsp;as
soon as practicable prepare and file with the Commission such amendments and supplements to such Shelf Registration Statement and
the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Shelf Registration Statement
for the period specified in Section&nbsp;2(b) and as may be required by the applicable rules and regulations of the Commission
and the instructions applicable to the form of such Shelf Registration Statement, and furnish to the Electing Holders copies of
any such supplement or amendment simultaneously with or prior to its being used or filed with the Commission to the extent such
documents are not publicly available on the Commission&rsquo;s EDGAR System;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(v)&#9;&nbsp;&nbsp;&nbsp;&nbsp;comply
with the provisions of the Securities Act with respect to the disposition of all of the Registrable Securities covered by such
Shelf Registration Statement in accordance with the intended methods of disposition by the Electing Holders provided for in such
Shelf Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(vi)&#9;&nbsp;&nbsp;&nbsp;&nbsp;provide
a representative of the Electing Holders and not more than one counsel for all the Electing Holders the opportunity to participate
in the preparation of such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each
amendment or supplement thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;for
a reasonable period prior to the filing of such Shelf Registration Statement, and throughout the period specified in Section&nbsp;2(b),
make available at reasonable times at the Company&rsquo;s principal place of business or such other reasonable place for inspection
by the persons referred to in Section&nbsp;3(d)(vi) who shall certify to the Company that they have a current intention to sell
the Registrable Securities pursuant to the Shelf Registration such financial and other information and books and records of the
Company, and cause the officers, employees, counsel and independent certified public accountants of the Company to respond to such
inquiries, as shall be reasonably necessary (and in the case of counsel, not violate an attorney-client privilege, in such counsel&rsquo;s
reasonable belief), in the judgment of the respective counsel referred to in Section&nbsp;3(d)(vi), to conduct a reasonable investigation
within the meaning of Section&nbsp;11 of the Securities Act; <I>provided, however,</I> that the foregoing inspection and information
gathering on behalf of the Electing Holders shall be conducted by one counsel designated by the holders of at least a majority
in aggregate principal amount of the Registrable Securities held by the Electing Holders at the time outstanding and <I>provided
further</I> that each such party shall be required to maintain in confidence and not to disclose to any other person any information
or records reasonably designated by the Company as being confidential, until such time as (A)&nbsp;such information becomes a matter
of public record (whether by virtue of its inclusion in such Shelf Registration Statement or otherwise), or (B)&nbsp;such person
shall be required so to disclose such information pursuant to a subpoena or order of any court or other governmental agency or
body having jurisdiction over the matter (subject to the requirements of such order, and only after such person shall have given
the Company prompt prior written notice of such requirement), or (C)&nbsp;such information is required to be set forth in such
Shelf Registration Statement or the prospectus included therein or in an amendment to such Shelf Registration Statement or an amendment
or supplement to such prospectus in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case
may be, complies with applicable requirements of the federal securities laws and the rules and regulations of the Commission and
does not contain an untrue statement of a material fact or omit to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(viii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;promptly
notify each of the Electing Holders and confirm such advice in writing, (A)&nbsp;when such Shelf Registration Statement or the
prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect
to such Shelf Registration Statement or any post-effective amendment, when the same has become effective, (B)&nbsp;of any comments
by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request
by the Commission for amendments or supplements to such Shelf Registration Statement or prospectus or for additional information,
(C)&nbsp;of the issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration Statement
or the initiation or threatening of any proceedings for that purpose, (D)&nbsp;if at any time the representations and warranties
of the Company set forth in Section&nbsp;5 cease to be true and correct in all material respects, (E)&nbsp;of the receipt by the
Company of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose, (F)&nbsp;the occurrence of any event that causes the Company
to become an &ldquo;ineligible issuer&rdquo; as defined in Rule&nbsp;405, or (G)&nbsp;if at any time when a prospectus is required
to be delivered under the Securities Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement
or post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and
the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(ix)&#9;&nbsp;&nbsp;&nbsp;&nbsp;use
all commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Shelf Registration
Statement or any post-effective amendment thereto at the earliest practicable date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(x)&#9;&nbsp;&nbsp;&nbsp;&nbsp;if
requested by any Electing Holder, promptly incorporate in a prospectus supplement or post-effective amendment such information
as is required by the applicable rules and regulations of the Commission and as such Electing Holder specifies should be included
therein relating to the terms of the sale of such Registrable Securities, including information with respect to the principal amount
of Registrable Securities being sold by such Electing Holder, the name and description of such Electing Holder, the offering price
of such Registrable Securities and any discount, commission or other compensation payable in respect thereof and with respect to
any other terms of the offering of the Registrable Securities to be sold by such Electing Holder; and make all required filings
of such prospectus supplement or post-effective amendment promptly after notification of the matters to be incorporated in such
prospectus supplement or post-effective amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&#9;furnish
to each Electing Holder and the counsel referred to in Section&nbsp;3(d)(vi) an executed copy (or a conformed copy) of such Shelf
Registration Statement, each such amendment and supplement thereto (in each case including all exhibits thereto (in the case of
an Electing Holder of Registrable Securities, upon request) and documents incorporated by reference therein) and such number of
copies of such Shelf Registration Statement (excluding exhibits thereto and documents incorporated by reference therein unless
specifically so requested by such Electing Holder) and of the prospectus included in such Shelf Registration Statement (including
each preliminary prospectus and any summary prospectus), in conformity in all material respects with the applicable requirements
of the Securities Act and the Trust Indenture Act to the extent such documents are not available through the Commission&rsquo;s
EDGAR System, and such other documents, as such Electing Holder may reasonably request in order to facilitate the offering and
disposition of the Registrable Securities owned by such Electing Holder and to permit such Electing Holder to satisfy the prospectus
delivery requirements of the Securities Act; and subject to Section&nbsp;3(e), the Company hereby consents to the use of such prospectus
(including such preliminary and summary prospectus) and any amendment or supplement thereto by each such Electing Holder (subject
to any applicable Suspension Period), in each case in the form most recently provided to such person by the Company, in connection
with the offering and sale of the Registrable Securities covered by the prospectus (including such preliminary and summary prospectus)
or any supplement or amendment thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;use
all commercially reasonable efforts to (A)&nbsp;register or qualify the Registrable Securities to be included in such Shelf Registration
Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder shall reasonably request, (B)&nbsp;keep
such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and dealings
therein in such jurisdictions during the period the Shelf Registration Statement is required to remain effective under Section&nbsp;2(b)
and for so long as may be necessary to enable any such Electing Holder to complete its distribution of Registrable Securities pursuant
to such Shelf Registration Statement, (C)&nbsp;take any and all other actions as may be reasonably necessary or advisable to enable
each such Electing Holder to consummate the disposition in such jurisdictions of such Registrable Securities and (D)&nbsp;obtain
the consent or approval of each governmental agency or authority, whether federal, state or local, which may be required to effect
the Shelf Registration or the offering or sale in connection therewith or to enable the selling holder or holders to offer, or
to consummate the disposition of, their Registrable Securities; <I>provided, however,</I> that neither the Company nor the Guarantors
shall be required for any such purpose to (1)&nbsp;qualify as a foreign corporation in any jurisdiction wherein it would not otherwise
be required to qualify but for the requirements of this Section&nbsp;3(d)(xii), (2)&nbsp;consent to general service of process
in any such jurisdiction or become subject to taxation in any such jurisdiction or (3)&nbsp;make any changes to its certificate
of incorporation or by-laws or other governing documents or any agreement between it and its stockholders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&#9;unless
any Registrable Securities shall be in book-entry only form, cooperate with the Electing Holders to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be sold, which certificates, if so required by any securities
exchange upon which any Registrable Securities are listed, shall be printed, penned, lithographed, engraved or otherwise produced
by any combination of such methods, on steel engraved borders, and which certificates shall not bear any restrictive legends;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xiv)&#9;&nbsp;&nbsp;&nbsp;&nbsp;to
the extent permitted by DTC and applicable law, register all Securities that have been registered under the Securities Act under
the <FONT STYLE="color: black">CUSIP number for </FONT>the Existing <FONT STYLE="color: black">Exchange Securities, or, if the
Company fails to register the securities under such CUSIP number, obtain a new unrestricted CUSIP number for such Securities, in
either case not later than the applicable Effective Time; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&#9;notify
in writing each holder of Registrable Securities of any proposal by the Company to amend or waive any provision of this Agreement
pursuant to Section&nbsp;9(h) and of any amendment or waiver effected pursuant thereto, each of which notices shall contain the
text of the amendment or waiver proposed or effected, as the case may be; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(xvi)&nbsp;&nbsp;&nbsp;&nbsp;&#9;comply
with all applicable rules and regulations of the Commission, and make generally available to its securityholders no later than
eighteen months after the Effective Time of such Shelf Registration Statement an &ldquo;earning statement&rdquo; of the Company
and its subsidiaries complying with Section&nbsp;11(a) of the Securities Act (including, at the option of the Company, Rule&nbsp;158
thereunder); <I>provided</I>, <I>however</I>, that this requirement shall be deemed satisfied by the Company&rsquo;s compliance
with Section 3.16 of the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#9;In
the event that the Company would be required, pursuant to Section&nbsp;3(d)(viii)(G), to notify the Electing Holders, the Company
shall promptly prepare and furnish to each of the Electing Holders a reasonable number of copies of a prospectus supplemented or
amended so that, as thereafter delivered to purchasers of Registrable Securities, such prospectus shall conform in all material
respects to the applicable requirements of the Securities Act and the Trust Indenture Act and shall 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 in light of the circumstances then existing. Each Electing Holder agrees that upon receipt of any notice from the Company
pursuant to Section&nbsp;3(d)(viii)(G), such Electing Holder shall forthwith discontinue the disposition of Registrable Securities
pursuant to the Shelf Registration Statement applicable to such Registrable Securities until such Electing Holder shall have received
copies of such amended or supplemented prospectus, and if so directed by the Company, such Electing Holder shall deliver to the
Company (at the Company&rsquo;s expense) all copies, other than permanent file copies, of the prospectus covering such Registrable
Securities in such Electing Holder&rsquo;s possession at the time of receipt of such notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#9;In
the event of a Shelf Registration, in addition to the information required to be provided by each Electing Holder in its Notice
and Questionnaire, the Company may require such Electing Holder to furnish to the Company such additional information regarding
such Electing Holder and such Electing Holder&rsquo;s intended method of distribution of Registrable Securities as may be required
in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Company as promptly as practicable of
any inaccuracy or change in information previously furnished by such Electing Holder to the Company or of the occurrence of any
event in either case as a result of which any prospectus relating to such Shelf Registration contains or would contain an untrue
statement of a material fact regarding such Electing Holder or such Electing Holder&rsquo;s intended method of disposition of such
Registrable Securities or omits to state any material fact regarding such Electing Holder or such Electing Holder&rsquo;s intended
method of disposition of such Registrable Securities required to be stated therein or necessary to make the statements therein
not misleading in light of the circumstances then existing, and promptly to furnish to the Company any additional information required
to correct and update any previously furnished information or required so that such prospectus shall not contain, with respect
to such Electing Holder or the disposition of such Registrable Securities, 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 in light of the circumstances
then existing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&#9;Until
the Securities have become Freely Transferable, the Company will not, and will not permit any of its &ldquo;affiliates&rdquo; (as
defined in Rule&nbsp;144) to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective
registration statement, or a valid exemption from the registration requirements, under the Securities Act.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(h)&#9;&nbsp;&nbsp;&nbsp;&nbsp;As
a condition to its participation in the Exchange Offer, each holder of Registrable Securities shall furnish, upon the request of
the Company, a written representation to the Company (which may be contained in the letter of transmittal or &ldquo;agent&rsquo;s
message&rdquo; transmitted via The Depository Trust Company&rsquo;s Automated Tender Offer Procedures, in either case contemplated
by the Exchange Registration Statement) to the effect that (A)&nbsp;it is not an &ldquo;affiliate&rdquo; of the Company, as defined
in Rule&nbsp;405 of the Securities Act, or if it is such an &ldquo;affiliate&rdquo;, it will comply with the registration and prospectus
delivery requirements of the Securities Act to the extent applicable, (B)&nbsp;it is not engaged in and does not intend to engage
in, and has no arrangement or understanding with any person to participate in, a distribution of the Exchange Securities to be
issued in the Exchange Offer, (C)&nbsp;it is acquiring the Exchange Securities in its ordinary course of business, (D)&nbsp;if
it is a broker-dealer that holds Securities that were acquired for its own account as a result of market-making activities or other
trading activities (other than Securities acquired directly from the Company or any of its affiliates), it will deliver a prospectus
meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by it in the
Exchange Offer, (E)&nbsp;if it is a broker-dealer, that it did not purchase the Securities to be exchanged in the Exchange Offer
from the Company or any of its affiliates, and (F)&nbsp;it is not acting on behalf of any person who could not truthfully and completely
make the representations contained in the foregoing subclauses (A) through (E).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">Notwithstanding anything
in this Section 3 to the contrary, the requirements to file and consummate an Exchange Offer and/or file a Shelf Registration Statement
shall terminate at such time as all the Registrable Securities are Freely Transferable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&#9;&nbsp;&nbsp;&nbsp;&nbsp;<I>Registration
Expenses</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company agrees
to bear and to pay or cause to be paid promptly all expenses incident to the Company&rsquo;s performance of or compliance with
this Agreement, including (a)&nbsp;all Commission and any FINRA registration, filing and review fees and expenses including reasonable
fees and disbursements of counsel for the Eligible Holders in connection with such registration, filing and review, (b)&nbsp;all
fees and expenses in connection with the qualification of the Registrable Securities and the Exchange Securities, as applicable,
for offering and sale under the State securities and blue sky laws referred to in Section&nbsp;3(d)(xii) and determination of their
eligibility for investment under the laws of such jurisdictions as the Electing Holders may designate, including any reasonable
fees and disbursements of counsel for the Electing Holders in connection with such qualification and determination, (c)&nbsp;all
expenses relating to the preparation, printing, production, distribution and reproduction of each registration statement required
to be filed hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each amendment or supplement
to the foregoing, the expenses of preparing the Securities or Exchange Securities, as applicable, for delivery and the expenses
of printing or producing any selling agreements and blue sky or legal investment memoranda and all other documents in connection
with the offering, sale or delivery of Securities or Exchange Securities, as applicable, to be disposed of (including certificates
representing the Securities or Exchange Securities, as applicable), (d)&nbsp;messenger, telephone and delivery expenses relating
to the offering, sale or delivery of Securities or Exchange Securities, as applicable, and the preparation of documents referred
in clause (c) above, (e)&nbsp;fees and expenses of the Trustee under the Indenture, any agent of the Trustee and any counsel for
the Trustee and of any collateral agent or custodian, (f)&nbsp;internal expenses (including all salaries and expenses of the Company&rsquo;s
officers and employees performing legal or accounting duties), (g)&nbsp;reasonable fees, disbursements and expenses of counsel
and independent certified public accountants of the Company, (h)&nbsp;reasonable fees, disbursements and expenses of one counsel
for the Electing Holders retained in connection with a Shelf Registration, as selected by the Electing Holders of at least a majority
in aggregate principal amount of the Registrable Securities held by Electing Holders (which counsel shall be reasonably satisfactory
to the Company) (i)&nbsp;any fees charged by securities rating services for rating the Registrable Securities or the Exchange Securities,
as applicable, and (j)&nbsp;fees, expenses and disbursements of any other persons, including special experts, retained by the Company
in connection with such registration (collectively, the <I>&ldquo;Registration Expenses&rdquo;</I>). To the extent that any Registration
Expenses are incurred, assumed or paid by any holder of Registrable Securities, Securities or Exchange Securities, as applicable,<B>
</B>the Company shall reimburse such person for the full amount of the Registration Expenses so incurred, assumed or paid promptly
after receipt of a request therefor. Notwithstanding the foregoing, the holders of the Registrable Securities being registered
shall pay all agency fees and commissions and underwriting discounts and commissions, if any, and transfer taxes, if any, attributable
to the sale of such Registrable Securities and Exchange Securities, as applicable, and the fees and disbursements of any counsel
or other advisors or experts retained by such holders (severally or jointly), other than the counsel and experts specifically referred
to above.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;&nbsp;&nbsp;&nbsp;&nbsp;<I>Representations
and Warranties</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and each
of the Guarantors, jointly and severally, represents and warrants to, and agrees with, each Purchaser and each of the holders from
time to time of Registrable Securities that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&#9;Each
registration statement covering Registrable Securities, Securities or Exchange Securities, as applicable, and each prospectus (including
any preliminary or summary prospectus) contained therein or furnished pursuant to Section&nbsp;3(c) or Section&nbsp;3(d) and any
further amendments or supplements to any such registration statement or prospectus, when it becomes effective or is filed with
the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act and the Trust
Indenture Act 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; and at all times subsequent to the Effective Time when a prospectus
would be required to be delivered under the Securities Act, other than (A) from (i)&nbsp;such time as a notice has been given to
holders of Registrable Securities pursuant to Section&nbsp;3(c)(iii)(G) or Section&nbsp;3(d)(viii)(G) until (ii)&nbsp;such time
as the Company furnishes an amended or supplemented prospectus pursuant to Section&nbsp;3(c)(iv) or Section&nbsp;3(e) or (B) during
any applicable Suspension Period, each such registration statement, and each prospectus (including any summary prospectus) contained
therein or furnished pursuant to Section&nbsp;3(c) or Section&nbsp;3(d), as then amended or supplemented, will conform in all material
respects to the requirements of the Securities Act and the Trust Indenture Act 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
in the light of the circumstances then existing; <I>provided, however,</I> that this representation and warranty shall not apply
to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by
a holder of Registrable Securities expressly for use therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&#9;Any
documents incorporated by reference in any prospectus referred to in Section&nbsp;5(a), when they become or became effective or
are or were filed with the Commission, as the case may be, will conform or conformed in all material respects to the requirements
of the Securities Act or the Exchange Act, as applicable, and none of such documents will contain or contained an untrue statement
of a material fact or will omit or omitted to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing; <I>provided, however,</I> that this representation and warranty
shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to
the Company by a holder of Registrable Securities expressly for use therein.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#9;The
compliance by the Company with all of the provisions of this Agreement and the consummation of the transactions herein contemplated
will not (i)&nbsp;conflict with or result in a breach or violation of any of the terms or provisions of, or constitute 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 is subject, (ii)&nbsp;result in any violation of the provisions of the certificate of incorporation,
as amended, or the by-laws or other governing documents, as applicable, of the Company<B> </B>or the Guarantors or (iii)&nbsp;
result in any violation of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction
over the Company or any of its subsidiaries or any of their respective properties, except in the case of (i) and (iii) above, for
any default, breach, violation or conflict which would not reasonably be expected to have a material adverse effect on the current
or future condition (financial or otherwise), business or results of operations of the Company and its subsidiaries, taken as a
whole (&ldquo;<I>Material Adverse Effect</I>&rdquo;); and no consent, approval, authorization, order, registration or qualification
of or with any such court or governmental agency or body is required for the consummation by the Company and the Guarantors of
the transactions contemplated by this Agreement, except (w)&nbsp;the registration under the Securities Act of the Registrable Securities
and the Exchange Securities, as applicable, and qualification of the Indenture under the Trust Indenture Act, (x)&nbsp;such consents,
approvals, authorizations, registrations or qualifications as may be required under state securities or blue sky laws in connection
with the offering and distribution of the Registrable Securities and the Exchange Securities, as applicable and (y) such consents,
approvals, authorizations, registrations or qualifications that have been obtained and are in full force and effect as of the date
hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#9;This
Agreement has been duly authorized, executed and delivered by the Company and by the Guarantors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Indemnification
and Contribution</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Indemnification
by the Company and the Guarantors. </I>The Company and the Guarantors, jointly and severally, will indemnify and hold harmless
each of the holders of Registrable Securities included in an Exchange Registration Statement and each of the Electing Holders as
holders of Registrable Securities included in a Shelf Registration Statement against any losses, claims, damages or liabilities,
joint or several, to which such holder or such Electing Holder may become subject under the Securities Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement
or alleged untrue statement of a material fact contained in any Exchange Registration Statement or any Shelf Registration Statement,
as the case may be, under which such Registrable Securities or Exchange Securities were registered under the Securities Act, or
any preliminary, final or summary prospectus (including, without limitation, any &ldquo;issuer free writing prospectus&rdquo; as
defined in Rule&nbsp;433) contained therein or furnished by the Company to any such holder or any such Electing Holder, or any
amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such holder
and each such Electing Holder for any and all legal or other expenses reasonably incurred by them in connection with investigating
or defending any such action or claim as such expenses are incurred; <I>provided, however,</I> that neither the Company nor the
Guarantors shall be liable to any such person in any such case to the extent that any such loss, claim, damage or liability arises
out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration
statement, or preliminary, final or summary prospectus (including, without limitation, any &ldquo;issuer free writing prospectus&rdquo;
as defined in Rule&nbsp;433), or amendment or supplement thereto, in reliance upon and in conformity with written information furnished
to the Company by such person expressly for use therein.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b)&#9;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
by the Electing Holders</I>. The Company may require, as a condition to including any Registrable Securities in any Shelf Registration
Statement filed pursuant to Section 2(b), that the Company shall have received an undertaking reasonably satisfactory to it from
each Electing Holder of Registrable Securities included in such Shelf Registration Statement, severally and not jointly, to (i)&nbsp;indemnify
and hold harmless the Company, the Guarantors and all other Electing Holders of Registrable Securities included in such Shelf Registration
Statement, against any losses, claims, damages or liabilities to which the Company, the Guarantors or such other Electing Holders
may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in
such registration statement, or any preliminary, final or summary prospectus (including, without limitation, any &ldquo;issuer
free writing prospectus&rdquo; as defined in Rule&nbsp;433) contained therein or furnished by the Company to any Electing Holder,
or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but
only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance
upon and in conformity with written information furnished to the Company by such Electing Holder expressly for use therein, and
(ii)&nbsp;reimburse the Company and the Guarantors for any legal or other expenses reasonably incurred by the Company and the Guarantors
in connection with investigating or defending any such action or claim as such expenses are incurred; <I>provided, however,</I>
that no such Electing Holder shall be required to undertake liability to any person under this Section&nbsp;6(b) for any amounts
in excess of the dollar amount of the proceeds to be received by such Electing Holder from the sale of such Electing Holder&rsquo;s
Registrable Securities pursuant to such registration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Notices
of Claims, Etc. </I>Promptly after receipt by an indemnified party under subsection&nbsp;(a) or (b) above of written notice of
the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying
party pursuant to the indemnification provisions of or contemplated by this Section&nbsp;6, notify such indemnifying party in writing
of the commencement of such action; but the omission so to notify the indemnifying party shall not relieve it from any liability
which it may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by Section&nbsp;6(a)
or Section&nbsp;6(b). In case any such action shall be brought against any indemnified party and it shall notify an indemnifying
party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it
shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably
satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof,
such indemnifying party shall not be liable to such indemnified party for any legal expenses of other counsel or any other expenses,
in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs
of investigation. No indemnifying party shall, without the prior written consent of the indemnified party, effect the settlement
or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect
of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential
party to such action or claim) unless such settlement, compromise or judgment (i)&nbsp;includes an unconditional release of the
indemnified party from all liability arising out of such action or claim and (ii)&nbsp;does not include a statement as to, or an
admission of, fault, culpability or a failure to act by or on behalf of any indemnified party.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Contribution.
</I>If for any reason the indemnification provisions contemplated by Section&nbsp;6(a) or Section&nbsp;6(b) are unavailable to
or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party
as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the indemnifying party and the indemnified party in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information supplied by such indemnifying party or by such indemnified party, and the parties&rsquo; relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that
it would not be just and equitable if contributions pursuant to this Section&nbsp;6(d) were determined by pro rata allocation (even
if the holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of
the equitable considerations referred to in this Section&nbsp;6(d). The amount paid or payable by an indemnified party as a result
of the losses, claims, damages, or liabilities (or actions in respect thereof) referred to above shall be deemed to include any
legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any
such action or claim. Notwithstanding the provisions of this Section&nbsp;6(d), no Electing Holder shall be required to contribute
any amount in excess of the amount by which the dollar amount of the proceeds received by such holder from the sale of any Registrable
Securities (after deducting any fees, discounts and commissions applicable thereto) exceeds the amount of any damages which such
holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.
No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled
to contribution from any person who was not guilty of such fraudulent misrepresentation. The holders&rsquo; obligations in this
Section&nbsp;6(d) to contribute shall be several in proportion to the principal amount of Registrable Securities registered by
them and not joint.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#9;The
obligations of the Company and the Guarantors under this Section&nbsp;6 shall be in addition to any liability which the Company
or the Guarantors may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner
of each holder, each Electing Holder, and each person, if any, who controls any of the foregoing within the meaning of the Securities
Act; and the obligations of the holders and the Electing Holders contemplated by this Section&nbsp;6 shall be in addition to any
liability which the respective holder or Electing Holder may otherwise have and shall extend, upon the same terms and conditions,
to each officer and director of the Company or the Guarantors (including any person who, with his consent, is named in any registration
statement as about to become a director of the Company or a Guarantor) and to each person, if any, who controls the Company within
the meaning of the Securities Act, as well as to each officer and director of the other holders and to each person, if any, who
controls such other holders within the meaning of the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&#9;&nbsp;&nbsp;&nbsp;&nbsp;<I>Underwritten
Offerings</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each holder of Registrable
Securities hereby agrees with the Company and each other such holder that no holder of Registrable Securities may participate in
any underwritten offering hereunder unless (a)&nbsp;the Company gives its prior written consent to such underwritten offering,
(b)&nbsp;the managing underwriter or underwriters thereof shall be designated by Electing Holders holding at least a majority in
aggregate principal amount of the Registrable Securities to be included in such offering, <I>provided</I> that such designated
managing underwriter or underwriters is or are reasonably acceptable to the Company, (c)&nbsp;each holder of Registrable Securities
participating in such underwritten offering agrees to sell such holder&rsquo;s Registrable Securities on the basis provided in
any underwriting arrangements approved by the persons entitled selecting the managing underwriter or underwriters hereunder and
(d)&nbsp;each holder of Registrable Securities participating in such underwritten offering completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting
arrangements. The Company hereby agrees with each holder of Registrable Securities that, to the extent it consents to an underwritten
offering hereunder, it will negotiate in good faith and execute all indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements, including all commercially reasonable efforts to procure customary
legal opinions and auditor &ldquo;comfort&rdquo; letters.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Rule&nbsp;144</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a)&#9;&nbsp;&nbsp;&nbsp;&nbsp;<I>Facilitation
of Sales Pursuant to Rule 144. </I> The Company covenants to the holders of Registrable Securities that to the extent it shall
be required to do so under the Exchange Act, the Company shall timely file the reports required to be filed by it under the Exchange
Act or the Securities Act (including the reports under Sections&nbsp;13 and 15(d) of the Exchange Act referred to in subparagraph
(c)(1) of Rule&nbsp;144), and shall take such further action as any holder of Registrable Securities may reasonably request, all
to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the Securities
Act within the limitations of the exemption provided by Rule&nbsp;144. Upon the request of any holder of Registrable Securities
in connection with that holder&rsquo;s sale pursuant to Rule&nbsp;144, the Company shall deliver to such holder a written statement
as to whether it has complied with such requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Availability
of Rule 144 Not Excuse for Obligations under Section 2.</I> The fact that holders of Registrable Securities may become eligible
to sell such Registrable Securities pursuant to Rule 144 without such Securities having become Freely Transferable shall not (1)
cause such Securities to cease to be Registrable Securities or (2) excuse the Company&rsquo;s and the Guarantors&rsquo; obligations
set forth in Section 2 of this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration
and Special Interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Miscellaneous</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(a)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;No
Inconsistent Agreements. </I> The Company represents, warrants, covenants and agrees that it has not granted, and shall not grant,
registration rights with respect to Registrable Securities, Exchange Securities or Securities, as applicable, or any other securities
which would be inconsistent with the terms contained in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(b)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Specific
Performance.</I> The parties hereto acknowledge that there would be no adequate remedy at law if the Company fails to perform any
of its obligations hereunder and that the Purchasers and the holders from time to time of the Registrable Securities may be irreparably
harmed by any such failure, and accordingly agree that the Purchasers and such holders, in addition to any other remedy to which
they may be entitled at law or in equity, shall be entitled to compel specific performance of the obligations of the Company under
this Agreement in accordance with the terms and conditions of this Agreement, in any court of the United States or any State thereof
having jurisdiction. Time shall be of the essence in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(c)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Notices.
</I> All notices, requests, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed
to have been duly given when delivered by hand, if delivered personally, by facsimile or by courier, or three days after being
deposited in the mail (registered or certified mail, postage prepaid, return receipt requested) as follows: If to the Company,
to it at <FONT STYLE="color: black">745 Fifth Avenue, 19<SUP>th</SUP> Floor, New York, NY 10151</FONT>, Attention: General Counsel,
and if to a holder, to the address of such holder set forth in the security register or other records of the Company, or to such
other address as the Company or any such holder may have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(d)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Parties
in Interest.</I> All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall
be enforceable by the parties hereto, the holders from time to time of the Registrable Securities and the respective successors
and assigns of the foregoing. In the event that any transferee of any holder of Registrable Securities shall acquire Registrable
Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any
further writing or action of any kind, be deemed a beneficiary hereof for all purposes and such Registrable Securities shall be
held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such transferee shall
be entitled to receive the benefits of, and be conclusively deemed to have agreed to be bound by all of the applicable terms and
provisions of this Agreement. If the Company shall so request, any such successor, assign or transferee shall agree in writing
to acquire and hold the Registrable Securities subject to all of the applicable terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Survival.</I>
The respective indemnities, agreements, representations, warranties and each other provision set forth in this Agreement or made
pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof)
made by or on behalf of any holder of Registrable Securities, any director, officer or partner of such holder, or any controlling
person of any of the foregoing, and shall survive delivery of and payment for the Registrable Securities pursuant to the Purchase
Agreement, the transfer and registration of Registrable Securities by such holder and the consummation of an Exchange Offer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<B><I>Governing
Law.</I> This Agreement shall be governed by and construed in accordance with the laws of the State of New York.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(g)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Headings.</I>
The descriptive headings of the several Sections and paragraphs of this Agreement are inserted for convenience only, do not constitute
a part of this Agreement and shall not affect in any way the meaning or interpretation of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(h)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Entire
Agreement; Amendments.</I> This Agreement and the other writings referred to herein (including the Indenture and the form of Securities)
or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject
matter. This Agreement supersedes all prior agreements and understandings between the parties with respect to its subject matter.
This Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular
instance and either retroactively or prospectively) only by a written instrument duly executed by the Company and the holders of
at least a majority in aggregate principal amount of the Registrable Securities at the time outstanding. Each holder of any Registrable
Securities at the time or thereafter outstanding shall be bound by any amendment or waiver effected pursuant to this Section&nbsp;9(h),
whether or not any notice, writing or marking indicating such amendment or waiver appears on such Registrable Securities or is
delivered to such holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Inspection.</I>
For so long as this Agreement shall be in effect, this Agreement and a complete list of the names and addresses of all the record
holders of Registrable Securities shall be made available for inspection and copying on any Business Day by any holder of Registrable
Securities for proper purposes only (which shall include any purpose related to the rights of the holders of Registrable Securities
under the Securities, the Indenture and this Agreement) at the offices of the Company at the address thereof set forth in Section&nbsp;9(c)
and at the office of the Trustee under the Indenture.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I>Counterparts.</I>
This Agreement may be executed by the parties in counterparts, each of which shall be deemed to be an original, but all such respective
counterparts shall together constitute one and the same instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(k)&#9;<I>&nbsp;&nbsp;&nbsp;&nbsp;Severability</I>.
If any provision of this Agreement, or the application thereof in any circumstance, is held to be invalid, illegal or unenforceable
in any respect for any reason, the validity, legality and enforceability of such provision in every other respect and of the remaining
provisions contained in this Agreement shall not be affected or impaired thereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">(l)&#9;<B><I>&nbsp;&nbsp;&nbsp;&nbsp;Agent
for Service; Submission to Jurisdiction.</I> <FONT STYLE="color: black">To the fullest extent permitted by applicable law, the
Company and each of the Guarantors (i) agrees that any legal suit, action or proceeding against the Company or any Guarantor brought
by any Electing Holder or by any person who controls any Electing Holder arising out of or based upon this Agreement or the transactions
contemplated thereby may be instituted exclusively in the U.S. District Court for the Southern District of New York, or if that
court does not have subject matter jurisdiction, any New York state court located in the Borough of Manhattan in the City of New
York (a &ldquo;<I>New York Court</I>&rdquo;), (ii) waives, to the fullest extent it may effectively do so, any objection that it
may now or hereafter have to the laying of venue of any such proceeding and (iii) submits to the non-exclusive jurisdiction of
such courts in any such suit, action or proceeding. The Company and each of the Guarantors has appointed the Company&rsquo;s New
York office, currently located at 745 Fifth Avenue, 19<SUP>th</SUP> Floor, New York, NY 10151, as its authorized agent (the &ldquo;<I>Authorized
Agent</I>&rdquo;) upon whom process may be served in any such action arising out of or based on this Agreement or the transactions
contemplated hereby which may be instituted in any New York Court by any Electing Holder or any person who controls any Electing
Holder, expressly consents to the jurisdiction of any such court in respect of any such action, and waives any other requirements
of or objections to personal jurisdiction with respect thereto. Such appointment shall not be revoked without your prior written
consent. The Company and each of the Guarantors represents and warrants that its Authorized Agent has agreed to act as such an
agent for service of process and agrees to take any and all action, including the filing of any and all documents and instruments,
as may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized
Agent and written notice of such service to the Company shall be deemed, in every respect, effective service of process upon the
Company and such Guarantors.</FONT></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>If the foregoing
is in accordance with your understanding, please sign and return to us four counterparts hereof, and upon the acceptance hereof
by you, on behalf of each of the Purchasers, this letter and such acceptance hereof shall constitute a binding agreement between
each of the Purchasers, the Guarantors and the Company. It is understood that your acceptance of this letter on behalf of each
of the Purchasers is pursuant to the authority set forth in a form of Agreement among Purchasers, the form of which shall be submitted
to the Company for examination upon request, but without warranty on your part as to the authority of the signers thereof.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></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="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; font-weight: bold">MDC Partners Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: left">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-align: left">/s/ David Doft</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: David Doft</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: normal">Guarantors:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Accent Marketing Services, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Ashton Potter Canada Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Computer Composition of Canada LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Crispin Porter &amp; Bogusky LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Dotglu LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">KBP Holdings LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">kbs+p Canada LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Kirshenbaum Bond Senecal &amp; Partners LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Maxxcom (USA) Holdings Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Maxxcom Inc. (US)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">MDC Acquisition Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">MDC Corporate (US) Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">MDC/KBP Acquisition Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">MF+P Acquisition Co.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Redscout LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">RJ Palmer Partners LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">TargetCom LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">TC Acquisition Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Union Advertising Canada LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Varick Media Management LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">Yamamoto Moss Mackenzie, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">ZG Acquisition Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: normal">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: justify; font-weight: normal">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-align: justify; font-weight: normal">/s/ David Doft</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: normal">Name: David Doft</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: normal">Title:&nbsp; Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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 COLSPAN="2" STYLE="text-align: justify">Accepted as of the date hereof:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">J.P. Morgan Securities LLC</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; width: 45%">/s/ Earl Dowling</TD>
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">Name: Earl Dowling</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">Title:&nbsp; Executive Director</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">On behalf of each of the Purchasers</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit A</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>MDC Partners Inc.</B></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"><U>INSTRUCTION TO DTC PARTICIPANTS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Date of Mailing)</I></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>URGENT - IMMEDIATE ATTENTION REQUESTED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></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"><B><I><U>DEADLINE
FOR RESPONSE: [DATE]</U> </I></B></FONT><SUP>*</SUP></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: justify">The Depository Trust Company (<I>&ldquo;DTC&rdquo;</I>)
has identified you as a DTC Participant through which beneficial interests in MDC Partners Inc. (the <I>&ldquo;Company&rdquo;</I>)
11% Senior Notes due 2016 (the <I>&ldquo;Securities&rdquo;</I>) are held.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is in the process of registering
the Securities under the Securities Act of 1933 for resale by the beneficial owners thereof. In order to have their Securities
included in the registration statement, beneficial owners must complete and return the enclosed Notice of Registration Statement
and Selling Securityholder Questionnaire.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>It is important that beneficial owners
of the Securities receive a copy of the enclosed materials as soon as possible</U> as their rights to have the Securities included
in the registration statement depend upon their returning the Notice and Questionnaire by <B>[Deadline For Response]</B>. Please
forward a copy of the enclosed documents to each beneficial owner that holds interests in the Securities through you. If you require
more copies of the enclosed materials or have any questions pertaining to this matter, please contact MDC Partners Inc., <FONT STYLE="color: black">745
Fifth Avenue, 19<SUP>th</SUP> Floor, New York, NY 10151</FONT>; Telephone No.: (646) 429-1800.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<FONT STYLE="vertical-align: baseline">*</FONT>Not
less than 28 calendar days from date of mailing.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MDC Partners Inc.</B></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">Notice of Registration Statement<BR>
and<BR>
<U>Selling Securityholder Questionnaire</U></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">(Date)</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: justify">Reference is hereby made to the Exchange
and Registration Rights Agreement (the <I>&ldquo;Exchange and Registration Rights Agreement&rdquo;</I>) among MDC Partners, Inc.
(the <I>&ldquo;Company&rdquo;</I>), the Guarantors named therein and the Purchasers named therein. Pursuant to the Exchange and
Registration Rights Agreement, the Company has filed or will file with the United States Securities and Exchange Commission (the
<I>&ldquo;Commission&rdquo;</I>) a registration statement on Form&nbsp;S-3 (the <I>&ldquo;Shelf Registration Statement&rdquo;</I>)
for the registration and resale under Rule&nbsp;415 of the Securities Act of 1933, as amended (the <I>&ldquo;Securities Act&rdquo;</I>),
of $80,000,000 the Company&rsquo;s 11% Senior Notes due 2016 (the <I>&ldquo;Securities&rdquo;</I>) issued by the Company on December
10, 2012. A copy of the Exchange and Registration Rights Agreement has been filed as an exhibit to the Shelf Registration Statement
and can be obtained from the Commission&rsquo;s website at <U>www.sec.gov</U>. All capitalized terms not otherwise defined herein
shall have the meanings ascribed thereto in the Exchange and Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each beneficial owner of Registrable Securities
(as defined below) is entitled to have the Registrable Securities beneficially owned by it included in the Shelf Registration Statement.
In order to have Registrable Securities included in the Shelf Registration Statement, this Notice of Registration Statement and
Selling Securityholder Questionnaire (<I>&ldquo;Notice and Questionnaire&rdquo;</I>) must be completed, executed and delivered
to the Company&rsquo;s counsel at the address set forth herein for receipt ON OR BEFORE <B>[Deadline for Response]</B>. Beneficial
owners of Registrable Securities who do not properly complete, execute and return this Notice and Questionnaire by such date (i)&nbsp;will
not be named as selling securityholders in the Shelf Registration Statement and (ii)&nbsp;may not use the Prospectus forming a
part thereof for resales of Registrable Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain legal consequences arise from being
named as a selling securityholder in the Shelf Registration Statement and related Prospectus. Accordingly, holders and beneficial
owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named
or not being named as a selling securityholder in the Shelf Registration Statement and related Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The term <I>&ldquo;Registrable Securities&rdquo;</I>
is defined in the Exchange and Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ELECTION</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: justify">The undersigned holder (the <I>&ldquo;Selling
Securityholder&rdquo;</I>) of Registrable Securities hereby elects to include in the Shelf Registration Statement the Registrable
Securities beneficially owned by it and listed below in Item&nbsp;(3). The undersigned, by signing and returning this Notice and
Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and conditions of this Notice and Questionnaire
and the Exchange and Registration Rights Agreement, including, without limitation, Section&nbsp;6 of the Exchange and Registration
Rights Agreement, as if the undersigned Selling Securityholder were an original party thereto. In addition, the undersigned, by
signing and returning this Notice and Questionnaire, represents and warrants that the representation set forth in Section 3(h)
of the Exchange and Registration Rights Agreement is true and correct as of the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Exchange and Registration
Rights Agreement, the undersigned has agreed to indemnify and hold harmless the Company, its officers who sign any Shelf Registration
Statement, and each person, if any, who controls the Company within the meaning of either Section&nbsp;15 of the Securities Act
or Section&nbsp;20 of the Exchange Act of 1934, as amended (the <I>&ldquo;Exchange Act&rdquo;</I>), against certain loses arising
out of an untrue statement, or the alleged untrue statement, of a material fact in the Shelf Registration Statement or the related
prospectus or the omission, or alleged omission, to state a material fact required to be stated in such Shelf Registration Statement
or the related prospectus, but only to the extent such untrue statement or omission, or alleged untrue statement or omission, was
made in reliance on and in conformity with the information provided in this Notice and Questionnaire.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon any sale of Registrable Securities
pursuant to the Shelf Registration Statement, the Selling Securityholder will be required to deliver to the Company and Trustee
the Notice of Transfer set forth in Appendix&nbsp;A to the Prospectus and as Exhibit B to the Exchange and Registration Rights
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Selling Securityholder hereby provides
the following information to the Company and represents and warrants that such information is accurate and complete:</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in">(1)</TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Full legal name of Selling Securityholder:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: Black 1pt solid; margin-bottom: 0pt; text-align: left; margin-left: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Full legal name of registered Holder (if not the same
as in (a) above) of Registrable Securities listed in Item (3) below:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: Black 1pt solid; margin-bottom: 0pt; text-align: left; margin-left: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Full legal name of DTC Participant (if applicable and
if not the same as (b) above) through which Registrable Securities listed in Item (3) below are held:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Address for notices to Selling Securityholder:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: justify">Telephone:</TD>
    <TD STYLE="width: 59%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Fax:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contact Person:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify">E-mail for Contact Person:</TD>
    <TD STYLE="width: 48%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Beneficial Ownership of Securities:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify"><I>Except as set forth below in this Item&nbsp;(3), the undersigned does not beneficially own any
Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.25in; text-align: justify"></TD>
    <TD STYLE="width: 0.25in; text-align: justify">(a)</TD>
    <TD STYLE="width: 50%; text-align: justify">Principal amount of Registrable Securities beneficially owned:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 7%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 40%; text-align: justify">CUSIP No(s). of such Registrable Securities:</TD>
    <TD STYLE="width: 53%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Principal amount of Securities other than Registrable
Securities beneficially owned:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left; border-bottom: Black 1pt solid; margin-left: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></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: 7%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%; text-align: justify">CUSIP No(s). of such other Securities:</TD>
    <TD STYLE="width: 63%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Principal amount of Registrable Securities that the undersigned
wishes to be included in the</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></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: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify">Shelf Registration Statement:</TD>
    <TD STYLE="width: 68%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.5in">&nbsp;CUSIP
No(s). of such Registrable Securities to be included in the Shelf Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: Black 1pt solid; margin-bottom: 0pt; text-align: left; margin-left: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Beneficial Ownership of Other Securities of the Company:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></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: 3%"></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify; width: 93%"><I>Except as set forth below in this Item&nbsp;(4), the undersigned Selling Securityholder is not
the beneficial or registered owner of any other securities of the Company, other than the Securities listed above in Item&nbsp;(3).</I></TD></TR>                                                                                                                                                 <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<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: 3%"></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify; width: 93%">State any exceptions here:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Individuals who exercise dispositive powers with respect
to the Securities:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><I>If the Selling Securityholder is not an entity that
is required to file reports with the Commission pursuant to Section&nbsp;13 or 15(d) of the Exchange Act (a </I>&ldquo;Reporting
Company&rdquo;<I>), then the Selling Securityholder must disclose the name of the natural person(s) who exercise sole or shared
dispositive powers with respect to the Securities. Selling Securityholders should disclose the beneficial holders, not nominee
holders or other such others of record. In addition, the Commission has provided guidance that Rule&nbsp;13d-3 of the Securities
Exchange Act of 1934 should be used by analogy when determining the person or persons sharing voting and/or dispositive powers
with respect to the Securities.</I></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Is the holder a Reporting Company?</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left"><I>If &ldquo;No&rdquo;, please answer Item
(5)(b).</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">List below the individual or individuals who exercise
dispositive powers with respect to the Securities:</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.6pt; text-align: justify; text-indent: -22.3pt"><B>&nbsp;</B></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: 22.3pt"></TD><TD STYLE="width: 22.3pt"></TD><TD STYLE="text-align: justify"><B><I>Please note that the names of the persons listed in (b) above will be included in the Shelf
Registration Statement and related Prospectus.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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"></TD><TD STYLE="width: 45.35pt">(6)</TD><TD STYLE="text-align: justify">Relationships with the Company:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></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"></TD><TD STYLE="width: 45.35pt"></TD><TD STYLE="text-align: justify"><I>Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers,
directors or principal equity holders (5% or more) has held any position or office or has had any other material relationship with
the Company (or its predecessors or affiliates) during the past three years.</I></TD></TR>                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<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"></TD><TD STYLE="width: 45.35pt"></TD><TD STYLE="text-align: justify">State any exceptions here:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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"></TD><TD STYLE="width: 45.35pt">(7)</TD><TD STYLE="text-align: justify">Plan of Distribution:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></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"></TD><TD STYLE="width: 45.35pt"></TD><TD STYLE="text-align: justify"><I>Except as set forth below, the undersigned Selling Securityholder intends to distribute the
Registrable Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold from time
to time directly by the undersigned Selling Securityholder. Such Registrable Securities may be sold in one or more transactions
at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated
prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities
exchange or quotation service on which the Registered Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter
market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the
writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into
hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of
hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable
Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell
such securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></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"></TD><TD STYLE="width: 45.35pt"></TD><TD STYLE="text-align: justify">State any exceptions here:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify"><I>Note: In no event may such
method(s) of distribution take the form of an underwritten offering of Registrable Securities without the prior written agreement
of the Company.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(8)</TD><TD STYLE="text-align: justify">Broker-Dealers:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"><I>&nbsp;</I></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%"></TD><TD STYLE="width: 0.75in"></TD><TD STYLE="text-align: justify"><I>The Commission requires that all Selling Securityholders that are registered broker-dealers
or affiliates of registered broker-dealers be so identified in the Shelf Registration Statement. In addition, the Commission requires
that all Selling Securityholders that are registered broker-dealers be named as underwriters in the Shelf Registration Statement
and related Prospectus, even if they did not receive the Registrable Securities as compensation for underwriting activities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">State whether the undersigned Selling Securityholder
is a registered broker-dealer:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">If the answer to (a) is &ldquo;Yes&rdquo;, you must answer
(i) and (ii) below, and (iii) below if applicable. <B><I>Your answers to (i) and (ii) below, and (iii) below if applicable, will
be included in the Shelf Registration Statement and related Prospectus.</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">Were the Securities acquired as compensation for underwriting
activities?</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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"></TD><TD STYLE="width: 45.35pt"></TD><TD STYLE="text-align: justify">If you answered &ldquo;Yes&rdquo;, please provide a brief description of the transaction(s) in
which the Securities were acquired as compensation:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 45.25pt"></TD><TD STYLE="width: 27pt">(ii)</TD><TD STYLE="text-align: justify">Were the Securities acquired for investment purposes?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 45.25pt"></TD><TD STYLE="width: 27pt">(iii)</TD><TD STYLE="text-align: justify">If you answered &ldquo;No&rdquo; to both (i) and (ii), please explain the Selling Securityholder&rsquo;s
reason for acquiring the Securities:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify">State whether the undersigned Selling Securityholder
is an affiliate of a registered broker-dealer and, if so, list the name(s) of the broker-dealer affiliate(s):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">If you answered &ldquo;Yes&rdquo; to question (c) above:</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">Did the undersigned Selling Securityholder purchase Registrable
Securities in the ordinary course of business?</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">If the answer is &ldquo;No&rdquo; to question (d)(i),
provide a brief explanation of the circumstances in which the Selling Securityholder acquired the Registrable Securities:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">At the time of the purchase of the Registrable Securities,
did the undersigned Selling Securityholder have any agreements, understandings or arrangements, directly or indirectly, with any
person to dispose of or distribute the Registrable Securities?</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">If the answer is &ldquo;Yes&rdquo; to question (d)(ii),
provide a brief explanation of such agreements, understandings or arrangements:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"><B><I>If the answer is &ldquo;No&rdquo;
to Item (8)(d)(i) or &ldquo;Yes&rdquo; to Item (8)(d)(ii), you will be named as an underwriter in the Shelf Registration Statement
and the related Prospectus.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(9)</TD><TD STYLE="text-align: justify">Hedging and short sales:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">State whether the undersigned Selling Securityholder
has or will enter into &ldquo;hedging transactions&rdquo; with respect to the Registrable Securities:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 0.75in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&#9;<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">If &ldquo;Yes&rdquo;, provide below a complete description
of the hedging transactions into which the undersigned Selling Securityholder has entered or will enter and the purpose of such
hedging transactions, including the extent to which such hedging transactions remain in place:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&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: 0.75in; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -45.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Set forth below is Interpretation A.65 of the Commission&rsquo;s
July 1997 Manual of Publicly Available Interpretations regarding short selling:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -45pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><I>&ldquo;An issuer filed a Form S-3 registration statement
for a secondary offering of common stock which is not yet effective. One of the selling shareholders wanted to do a short sale
of common stock &ldquo;against the box&rdquo; and cover the short sale with registered shares after the effective date. The issuer
was advised that the short sale could not be made before the registration statement becomes effective, because the shares underlying
the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section&nbsp;5 if
the shares were effectively sold prior to the effective date.&rdquo;</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-left: 0.75in">By returning this Notice and Questionnaire,
the undersigned Selling Securityholder will be deemed to be aware of the foregoing interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</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: justify">By signing below, the Selling Securityholder
acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange
Act, particularly Regulation M (or any successor rule or regulation).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Selling Securityholder hereby acknowledges
its obligations under the Exchange and Registration Rights Agreement to indemnify and hold harmless the Company and certain other
persons as set forth in the Exchange and Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the Selling Securityholder
transfers all or any portion of the Registrable Securities listed in Item&nbsp;(3) above after the date on which such information
is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights
and obligations under this Notice and Questionnaire and the Exchange and Registration Rights Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By signing below, the Selling Securityholder
consents to the disclosure of the information contained herein in its answers to Items&nbsp;(1) through (9) above and the inclusion
of such information in the Shelf Registration Statement and related Prospectus. The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and related
Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the Selling Securityholder&rsquo;s
obligation under Section&nbsp;3(d) of the Exchange and Registration Rights Agreement to provide such information as may be required
by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any
inaccuracies or changes in the information provided herein which may occur subsequent to the date hereof at any time while the
Shelf Registration Statement remains in effect and to provide such additional information that the Company may reasonably request
regarding such Selling Securityholder and the intended method of distribution of Registrable Securities in order to comply with
the Securities Act. Except as otherwise provided in the Exchange and Registration Rights Agreement, all notices hereunder and pursuant
to the Exchange and Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier
guaranteeing overnight delivery as follows:</P>

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

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 9%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 46%; text-align: justify">(i) To the Company:</TD>
    <TD STYLE="width: 45%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">MDC Partners Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">745 Fifth Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">19<SUP>th</SUP> Floor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">New York, NY 10151</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Attention: General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(ii) With a copy to:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Simpson Thacher &amp; Bartlett LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">425 Lexington Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">New York, NY 10017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Attention: Ris&euml; Norman, Esq.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Once this Notice and Questionnaire is executed
by the Selling Securityholder and received by the Company&rsquo;s counsel, the terms of this Notice and Questionnaire, and the
representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by
the respective successors, heirs, personal representatives, and assigns of the Company and the Selling Securityholder (with respect
to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above). This Notice and
Questionnaire shall be governed in all respects by the laws of the State of New York.</P>

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the undersigned, by
authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized
agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: <U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Selling Securityholder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">(Print/type full legal name of beneficial owner of Registrable Securities)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: justify">By:</TD>
    <TD STYLE="width: 79%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Title:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PLEASE RETURN THE COMPLETED AND EXECUTED
NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE <B>[DEADLINE FOR RESPONSE]</B> TO THE COMPANY&rsquo;S COUNSEL AT:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">425 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, NY 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Ris&euml; Norman, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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: right"><B>Exhibit B</B></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">NOTICE OF TRANSFER PURSUANT TO REGISTRATION
STATEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bank of New York Mellon</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">MDC Partners Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o Bank of New York Mellon</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Address of Trustee]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 12%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">Re:</TD>
    <TD STYLE="width: 83%; text-align: justify">MDC Partners Inc. (the <I>&ldquo;Company&rdquo;</I>)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">11% Senior Notes due 2016</TD></TR>
</TABLE>


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please be advised that <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U>has transferred $<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> aggregate principal amount of the above-referenced Notes pursuant to an effective Registration
Statement on Form <B>[</B><U> </U><B>]</B> (File No. 333-<U> </U>) filed by the Company.</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">We hereby certify that the prospectus delivery
requirements, if any, of the Securities Act of 1933, as amended, have been satisfied and that the above-named beneficial owner
of the Notes is named as a &ldquo;Selling Holder&rdquo; in the Prospectus dated <B>[date]</B> or in supplements thereto, and that
the aggregate principal amount of the Notes transferred are the Notes listed in such Prospectus opposite such owner&rsquo;s name.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&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="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Name)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Authorized Signature)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 35; Options: NewSection; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>List of Guarantors
and Jurisdictions of Formation</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 85%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 55%; border-bottom: windowtext 1pt solid; font-weight: bold; text-indent: 0in">Subsidiary</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; font-weight: bold; text-indent: 0in">Jurisdiction of Formation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">1.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Accent Marketing Services, LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">2.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Ashton Potter Canada Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Ontario</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">3.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Computer Composition of Canada LP</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Ontario</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">4.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Crispin Porter &amp; Bogusky LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">5.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Dotglu LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">6.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">KBP Holdings LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">7.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">kbs+p Canada LP</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Ontario</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">8.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Kirshenbaum Bond Senecal &amp; Partners LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">9.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Maxxcom (USA) Holdings Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">10.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Maxxcom Inc. (US)</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">11.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">MDC Acquisition Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">12.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">MDC Corporate (US) Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">13.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">MDC/KBP Acquisition Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">14.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">MF+P Acquisition Co.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">15.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Redscout LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">16.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">RJ Palmer Partners LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">17.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">TargetCom LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">18.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">TC Acquisition Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">19.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Union Advertising Canada LP</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Ontario</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">20.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Varick Media Management LLC</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">21.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">Yamamoto Moss Mackenzie, Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-indent: 0in">22.</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 3.8pt">ZG Acquisition Inc.</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0.5in">Delaware</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">Endnotes-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit D</B></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: 100%; text-align: center; font-weight: bold; text-decoration: underline">Initial Purchasers</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">J.P. Morgan Securities LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Goldman, Sachs &amp; Co.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">BMO Capital Markets Corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Deutsche Bank Securities Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">RBC Capital Markets, LLC</TD></TR>
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