<SEC-DOCUMENT>0001144204-14-005286.txt : 20140131
<SEC-HEADER>0001144204-14-005286.hdr.sgml : 20140131
<ACCEPTANCE-DATETIME>20140131163910
ACCESSION NUMBER:		0001144204-14-005286
CONFORMED SUBMISSION TYPE:	S-3/A
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20140131
DATE AS OF CHANGE:		20140131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WIDEPOINT CORP
		CENTRAL INDEX KEY:			0001034760
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				522040275
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-193250
		FILM NUMBER:		14565224

	BUSINESS ADDRESS:	
		STREET 1:		7926 JONES BRANCH DRIVE, SUITE 520
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		(703) 349-2577

	MAIL ADDRESS:	
		STREET 1:		7926 JONES BRANCH DRIVE, SUITE 520
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZMAX CORP
		DATE OF NAME CHANGE:	19970530
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>v366522_s3a.htm
<DESCRIPTION>AMENDED REGISTRATION STATEMENT
<TEXT>
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B> As filed with the Securities and Exchange Commission
on January 31, 2014 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B> &nbsp;Registration No. 333-193250 </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington, D.C. 20549&nbsp;&nbsp;&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"><B> Amendment No 1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"><B> to </B><BR>
<B>FORM S-3</B><BR>
<B>REGISTRATION STATEMENT UNDER</B><BR>
<B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: center">&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; 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>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="vertical-align: top; width: 53%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Delaware</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of incorporation
        or organization)</P></td>
    <td style="width: 47%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>52-2040275</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer Identification No.)</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>7926 Jones Branch Drive, Suite 520</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>McLean, Virginia 22102</B><BR>
<B>(703) 349-2577</B><BR>
(Address, including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)<BR></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">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>7926 Jones Branch Drive, Suite 520</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>McLean, Virginia 22102</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(703) 349-2577</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code, and
telephone number, including area code, of agent for service)</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">with a copy to:<BR>
<B>Michael B. Kirwan, Esq.</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>One Independent Drive, Suite 1300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jacksonville, Florida 32202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(904) 359-2000</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"></P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Approximate date of commencement of
proposed sale to the public:</B> From time to time after this registration statement becomes effective.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the only securities being registered
on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. <FONT STYLE="font: 10pt Wingdings">&uml;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, other
than securities offered only in connection with dividend or interest reinvestment plans, please check the following box.<FONT STYLE="font: 10pt Wingdings">x</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font: 10pt Wingdings">&uml;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <FONT STYLE="font: 10pt Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a registration statement
pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. <FONT STYLE="font: 10pt Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a post-effective amendment
to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes
of securities pursuant to Rule 413(b) under the Securities Act, check the following box. <FONT STYLE="font: 10pt Wingdings">&uml;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule&nbsp;12b-2
of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 32%; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">Large accelerated filer </font><font style="font-family: Wingdings">&uml;</font></td>
    <td style="width: 20%; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">Accelerated filer </font><font style="font-family: Wingdings">&uml;</font></td>
    <td style="width: 29%; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">Non-accelerated filer </font><font style="font-family: Wingdings">&uml;</font><br>
<font style="font-size: 10pt">(Do not check if a smaller reporting company)</font></td>
    <td style="width: 19%; font-size: 10pt; font-weight: bold"><font style="font-size: 10pt">Smaller reporting company </font><font style="font-family: Wingdings">x</font></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; text-align: center"><B>CALCULATION OF REGISTRATION FEE</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">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Title of each class of <BR>securities
    to be registered </TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Amount to be registered/
    <BR>Proposed maximum offering price per unit/ Proposed <BR>maximum offering price </TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Amount of registration
    fee </TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"> Debt Securities </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><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: White">
    <TD STYLE="width: 44%"> Common stock, $0.001 par value </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 25%; text-align: right"> (2)(3)(4)(5) </TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 25%; text-align: right"> &nbsp; </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD> Preferred Stock, $0.001 par value </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><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: White">
    <TD> Warrants </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><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"> Stock Purchase Contracts </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><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: White">
    <TD STYLE="text-align: left"> Stock Purchase Units (1) </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><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> Total </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 25,000,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 3,220.00 </TD><TD STYLE="text-align: left"> (6) </TD></TR>
</TABLE>



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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 22.3pt">(1)</TD><TD>Each stock purchase unit consists of (a) a stock purchase contract under which the holder, upon settlement, will purchase or
sell an indeterminate number of shares of common stock and (b) common stock, debt securities, other stock purchase contracts or
debt obligations of third parties subject to the stock purchase contract. No separate consideration will be received for the stock
purchase contract or the related pledged securities.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 22.3pt">(2)</TD><TD>There is being registered hereunder an indeterminate amount of (a) debt securities, (b) common stock, (c) preferred stock,
(d) warrants to purchase common stock, preferred stock or debt securities, (e)&nbsp;stock purchase contracts, and (f) stock purchase
units, as may be sold from time to time by the Registrant. Any securities registered hereunder may be sold separately or as units
with other securities registered hereunder. There are also being registered hereunder an indeterminate number of shares of common
stock, preferred stock and debt securities as shall be issuable upon conversion, exchange or exercise of any securities that provide
for such issuance. Pursuant to Rule 416 under the Securities Act of 1933, as amended, the securities being registered hereunder
include such indeterminate number of shares of common stock as may be issuable with respect to the securities being registered
hereunder as a result of stock splits, stock dividends or similar transactions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 22.3pt">(3)</TD><TD>The proposed maximum offering price per security will be determined from time to time by the registrant in connection with
the issuance of the securities registered by this registration statement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 22.3pt">(4)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act of 1933.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 22.3pt">(5)</TD><TD>Pursuant to General Instruction II.D of Form S-3. An indeterminate aggregate initial offering price or number of securities
of each class of securities to be registered hereunder is being registered as may from time to time be offered at indeterminate
prices.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 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: 22.3pt"><B> (6) </B></TD><TD><B> Previously Paid. </B></TD></TR></TABLE>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: -22.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The Registrant hereby amends
this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file
a further amendment which specifically states that this registration statement shall thereafter become effective in accordance
with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the
Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</FONT></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">The information in this prospectus is not complete
and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission
is effective. This prospectus is not an offer to sell these securities nor a solicitation of an offer to buy these securities in
any jurisdiction where the offer or sale is not permitted.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: red"> (Subject to completion,
dated January 31, 2014) </P>

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

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

<P STYLE="margin: 0pt 0">Preliminary Prospectus</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tpg3.jpg" ALT=""></P>

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

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

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

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

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

<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"></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">We may offer and sell from time to time
up to $25.0 million of any combination of the securities described in this prospectus, in one or more classes or series and in
amounts, at prices and on terms that we will determine at the times of the offerings.</P>

<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 prospectus describes the general manner
in which our securities may be offered using this prospectus. We will provide specific terms of the securities, including the offering
prices, in one or more supplements to this prospectus. The supplements may also add, update or change information contained in
this prospectus. You should read this prospectus and the prospectus supplement relating to the specific issue of securities carefully
before you invest.</P>

<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">We may offer the securities independently
or together in any combination for sale directly to purchasers or through underwriters, dealers or agents to be designated at a
future date. The supplements to this prospectus will provide the specific terms of the plan of distribution.</P>

<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">Our common stock is listed on the NYSE MKT
under the symbol &ldquo;WYY.&rdquo;</P>

<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"><B>Investment in our securities involves
risks. Please read carefully the section entitled &ldquo;Risk Factors&rdquo; beginning on page 1 of this prospectus and in any
applicable prospectus supplement and/or other offering material for a discussion of certain factors which should be considered
in an investment of the securities which may be offered hereby.</B></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"></P>

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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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.</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"></P>

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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">The date of this prospectus is ___________,
2014.</P>

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


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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">TABLE OF CONTENTS</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: 90%; text-align: right">&nbsp;</td>
    <td style="width: 10%; text-align: right"><b>Page</b></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Widepoint Corporation</td>
    <td style="text-align: right">1</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Risk Factors</td>
    <td style="text-align: right">1</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Use of Proceeds</td>
    <td style="text-align: right">15</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Description of Debt Securities</td>
    <td style="text-align: right">15</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Description of Capital Stock</td>
    <td style="text-align: right">25</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Description of Warrants</td>
    <td style="text-align: right">28</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Description of Stock Purchase Contracts and Stock Purchase Units</td>
    <td style="text-align: right">29</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Where You Can Find More Information</td>
    <td style="text-align: right">30</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Incorporation of Certain Documents by Reference</td>
    <td style="text-align: right">30</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Plan of Distribution</td>
    <td style="text-align: right">31</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td>Legal Matters</td>
    <td style="text-align: right">33</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td>Experts</td>
    <td style="text-align: right">33</td></tr>
</table>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

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

<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">Unless the context otherwise requires, in
this prospectus, &ldquo;WidePoint,&rdquo; &ldquo;company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; and &ldquo;ours&rdquo;
refer to WidePoint Corporation and its subsidiaries on a combined basis.</P>

<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 prospectus is part of a registration
statement that we filed with the Securities and Exchange Commission, or SEC, using a &ldquo;shelf&rdquo; registration process.
Under this shelf registration process, we may, from time to time, sell the securities or combinations of the securities described
in this prospectus in one or more offerings. This prospectus provides you with a general description of the securities that we
may offer. Each time we offer securities, we will provide a prospectus supplement and/or other offering material that will contain
specific information about the terms of that offering. The prospectus supplement and/or other offering material may also add, update
or change information contained in this prospectus. You should read this prospectus, any prospectus supplement and any other offering
material together with additional information described under the heading &ldquo;Where You Can Find More Information.&rdquo;</P>

<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">You should rely only on the information
contained or incorporated by reference in this prospectus and in any prospectus supplement or other offering material. We have
not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent
information, you should not rely on it. We are not making offers to sell or solicitations to buy the securities in any jurisdiction
in which an offer or solicitation is not authorized or in which the person making that offer or solicitation is not qualified to
do so or to anyone to whom it is unlawful to make an offer or solicitation. You should not assume that the information in this
prospectus, any prospectus supplement or any other offering material, or the information we previously filed with the SEC that
we incorporate by reference in this prospectus or any prospectus supplement, is accurate as of any date other than its respective
date. Our business, financial condition, results of operations and prospects may have changed since those dates.</P>

<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"><B>&ldquo;Forward-Looking&rdquo; Information</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-indent: 0.5in">The information included or incorporation
by reference into this prospectus contains statements that the company believes to be &ldquo;forward-looking statements&rdquo;
within the meaning of the &ldquo;safe harbor&rdquo; provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, any statement that is not a statement of historical fact, including, without limitation,
statements regarding the company&rsquo;s business strategy and plans and objectives of management for future operations or that
may predict, forecast, indicate or imply future results, performance or achievements. The words &ldquo;estimate,&rdquo; &ldquo;project,&rdquo;
&ldquo;intend,&rdquo; &ldquo;forecast,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;plan,&rdquo; &ldquo;planning,&rdquo; &ldquo;expect,&rdquo;
&ldquo;believe,&rdquo; &ldquo;will,&rdquo; &ldquo;will likely,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo;
&ldquo;may&rdquo; or the negative of such words or words or expressions of similar meaning are intended to identify forward-looking
statements. These forward-looking statements are not guarantees of future performance, and all such forward-looking statements
involve risks and uncertainties, many of which are beyond the company&rsquo;s ability to control. Actual results may differ materially
from those expressed or implied by such forward-looking statements as a result of various factors. We do not undertake, and we
disclaim, any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
Certain factors that could cause results to differ materially from those projected in the forward-looking statements, including,
among other things: (i) the Company's financing plans; (ii) trends affecting the company's financial condition or results of operations;
(iii) the company's growth strategy and operating strategy; (iv) the declaration and payment of dividends; (v) decreased government
spending, (vi) changes in government regulations, (vii) our focus on selling higher margin services and (viii) the risk factors
described in this prospectus.</P>

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


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

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

<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">We are a provider of information technology
(IT) based products, services, and solutions. We offer secure, cloud-based, enterprise-wide information technology-based solutions
that enable commercial markets, and federal and state government organizations, to deploy fully compliant IT services in accordance
with government-mandated regulations and advanced system requirements. Our managed mobility enterprise solutions offer a portfolio
of information technology based services and products with a set of streamlined mobile communications management, identity management,
and consulting solutions that provide our customers with the ability to manage and protect their valuable communications assets
and deploy compliant identity management solutions that provide secured virtual and physical access to restricted environments.
Many of our solutions are accessible on-demand through cloud computing and provide customers with the ability to remotely manage
their workforce mobility and identity management requirements in accordance with internal policies, the marketplace and the demands
of our customers.</P>

<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">We are a Delaware corporation and our corporate
headquarters are located at 7926 Jones Branch Drive, Suite 520, McLean, Virginia 22102. Our telephone number is (703) 349-2577.
Our Internet website address is www.widepoint.com. We do not incorporate the information on our website into this prospectus, and
you should not consider it part of this prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Investing in our securities involves
a high degree of risk. You should carefully consider the risks and uncertainties described below before purchasing our securities.
Many factors, including the risks described below, could result in a significant or material adverse effect on our business, financial
condition and results of operations. As a result, the value of our securities could decline and you could lose part or all of your
investment.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Related to our Business and our Industry</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We may not be able to respond to rapid technological changes
with new software products and services, which could harm our sales and profitability.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information technology-based services
offered through our managed mobility portfolio of products, services, and solutions is characterized by rapid technological change
and frequent new product and service introductions, driven in part by periodic introductions of new technologies and devices in
the mobile cyber security and communications industries, frequent changes in, and resulting inconsistencies between, the billing
platforms utilized by major communications carriers and the changing demands of customers regarding the means of delivery of communications
management solutions. To achieve and maintain market acceptance for our solution, we must effectively anticipate these changes
and offer software products and services that respond to them in a timely manner. Customers may require features and capabilities
that our current solution does not have. If we fail to develop software products and services that satisfy customer preferences
in a timely and cost-effective manner, our ability to renew our agreements with existing customers and our ability to create or
increase demand for our solution will be harmed.</P>

<P STYLE="font: italic bold 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>We may be unable to successfully implement our acquisition
program.</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; text-indent: 0.5in">Our business strategy includes the potential
future acquisition of, or investment in, complementary businesses, services or technologies. Demand for businesses with credible
business relationships and capabilities to provide services to large commercial enterprises and/or governmental agencies at the
federal, state and local level is very competitive. To the extent that the price of such acquisitions may rise beyond reasonable
levels where funding for such acquisitions is no longer available, we may not be able to implement our acquisition strategy. Further,
these acquisitions, investments or new business relationships may result in unforeseen difficulties and expenditures. We may encounter
difficulties assimilating or integrating the businesses, technologies, products, services, personnel or operations of companies
we have acquired or companies that we may in the future acquire. These difficulties may arise if the key personnel of the acquired
company choose not to work for us, the company&rsquo;s technology or services do not easily integrate with ours or we have difficulty
retaining the acquired company&rsquo;s customers due to changes in its management or for other reasons. These acquisitions may
also disrupt our business, divert our resources and require significant management attention that would otherwise be available
for development of our business. Moreover, the anticipated benefits of any acquisition, investment or business relationship may
not be realized or we may be exposed to unknown liabilities. In addition, any future acquisition may require us to:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>issue additional equity securities that would dilute our stockholders;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>use cash that we may need in the future to operate our business;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>incur debt on terms unfavorable to us or that we are unable to repay;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>incur large charges or substantial liabilities; or</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>become subject to adverse tax consequences, substantial depreciation or deferred compensation charges.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal">If
any of these risks materializes, our business and operating results would be harmed.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>We have identified ineffective disclosure controls and
procedures and material weaknesses in the design of our internal control over financial reporting.</I></P>

<P STYLE="font: bold 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"><FONT STYLE="font-weight: normal">If we
are unable to maintain adequate internal control over financial reporting, we may be unable to report our financial information
on a timely basis, may suffer adverse regulatory consequences or violations of applicable stock exchange listing rules. Furthermore,
failure to achieve and maintain an effective internal control environment could have a material adverse effect on our business
and share price due to a lack of investor confidence.</FONT></P>

<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">In addition, we will incur additional costs
in order to improve our internal control over financial reporting and comply with Section 404, including increased auditing and
legal fees and costs associated with hiring additional accounting and administrative staff.</P>

<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">Our management has previously determined
that our internal control over financial reporting is not effective due to the existence of certain material weaknesses. A material
weakness is a control deficiency, or a combination of control deficiencies, that results in more than a remote likelihood that
a material misstatement of the annual or interim financial statements will not be prevented or detected. Our management reported
material weaknesses in the following areas:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Inadequate segregation of duties within an account or process.</I> Our management has determined that it continued to not
have appropriate segregation of duties within our internal controls that would ensure the consistent application of procedures
in our financial reporting process by existing personnel. This control deficiency could result in a misstatement of substantially
all of our financial statement accounts and disclosures that would result in a material misstatement to the annual or interim financial
statements.</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Inadequate policies &amp; procedures. </I>Our management has determined that its existing policies and procedures continued
to be limited and/or inadequate in scope to provide staff with guidance or framework for accounting and disclosing financial transactions.
This deficiency could result in unintended, misleading entries being made in the financial system and precluding sufficient disclosure
of complex transactions.</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Lack of sufficient subject matter expertise. </I>Our management has determined that it lacks certain subject matter expertise
related to accounting for income taxes and related complex disclosures. This control deficiency could result in a misstatement
of our deferred income tax accounts and disclosures that would result in a material misstatement to the annual or interim financial
statements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>Our market is highly competitive and
we may not be able to continue to compete effectively.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The markets for the services we provide
are highly competitive. We currently compete with companies from a variety of market segments, including publicly and privately
held firms, large accounting and consulting firms, systems consulting and implementation firms, application software firms, service
groups of computer equipment companies and other general management consulting firms. We also compete regularly with offshore outsourcing
companies, and we expect competition from these companies to increase in the future, especially on development, application management
services and outsourcing engagements. In addition, we and other technology and outsourced service providers compete with internally
developed communications management solutions. We compete frequently for client engagements against companies with far higher revenues
and larger numbers of consultants than we have. Recent consolidations of large competitors within our market have further increased
the size and resources of some of these competitors. These competitors are often able to offer more scale, which in some instances
has enabled them to significantly discount their services in exchange for revenues in other areas or at later dates. Additionally,
in an effort to maintain market share, many of our competitors are heavily discounting their services to unprofitable levels. If
we cannot keep pace with the intense competition in our marketplace, our business, financial condition and results of operations
will suffer.</P>

<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">The intensity of competition in our information
technology based managed mobility solutions market could result in pricing pressure as the market continues to develop. We expect
the intensity of competition to increase in the future as existing competitors develop their capabilities and as new companies,
which could include mobile communications technology, cyber security technology, and solution providers and one or more large communications
carriers, enter our market. Some of these competitors, such as large communications carriers, may offer similar and or expanded
solutions as part of a broad outsource offering for mobile communications services. Increased competition could result in additional
pricing pressure, reduced sales, shorter term lengths for customer contracts, lower margins or the failure of our solution to achieve
or maintain broad market acceptance. If we are unable to compete effectively, it will be difficult for us to maintain our pricing
rates and add and retain customers, and our business, financial condition and results of operations will be harmed.</P>

<P STYLE="font: italic bold 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: 0in"><B><I>We have significant fixed operating
costs, which may be difficult to adjust in response to unanticipated fluctuations in revenues.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A high percentage of our operating expenses,
particularly personnel, rent and depreciation, are fixed in advance of any particular quarter. As a result, an unanticipated decrease
in the number or average size of, or an unanticipated delay in the scheduling for, our projects may cause significant variations
in operating results in any particular quarter and could have a material adverse effect on operations for that quarter.</P>

<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">An unanticipated termination or decrease
in size or scope of a major project, a client&rsquo;s decision not to proceed with a project we anticipated or the completion during
a quarter of several major client projects could require us to maintain underutilized employees and could have a material adverse
effect on our business, financial condition and results of operations. Our revenues and earnings may also fluctuate from quarter
to quarter because of such factors as:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the contractual terms and timing of completion of projects, including achievement of certain business results;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>any delays incurred in connection with projects;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the adequacy of provisions for losses and bad debts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the accuracy of our estimates of resources required to complete ongoing projects;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>loss of key highly skilled personnel necessary to complete projects; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>general economic conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>We may lose money if we do not accurately
estimate the costs of fixed-price engagements.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Some
of our projects may be based on fixed-price, fixed-time contracts, rather than contracts in which payment to us is determined on
a time and materials basis. Our failure to accurately estimate the resources required for a project, or our failure to complete
our contractual obligations in a manner consistent with the project plan upon which our fixed-price, fixed-time contract was based,
could adversely affect our overall profitability and could have a material adverse effect on our business, financial condition
and results of operations. In addition, we may fix the price for some projects at an early stage of the process, which could result
in a fixed price that turns out to be too low and, therefore, could adversely affect our business, financial condition and results
of operations.</FONT></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>Our clients could unexpectedly terminate
their contracts for our services.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Some
of our contracts can be canceled by the client with limited advance notice and without significant penalty. Termination by any
client of a contract for our services could result in a loss of expected revenues and additional expenses for staff that were allocated
to that client&rsquo;s project. We could be required to maintain underutilized employees who were assigned to the terminated contract.
The unexpected cancellation or significant reduction in the scope of any of our large projects could have a material adverse effect
on our business, financial condition and results of operations.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>We may be liable to our clients for
damages caused by our services or by our failure to remedy system failures.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Many
of our projects involve technology applications or systems that are critical to the operations of our clients&rsquo; businesses.
If we fail to perform our services correctly, we may be unable to deliver applications or systems to our clients with the promised
functionality or within the promised time frame, or to satisfy the required service levels for support and maintenance. While we
have created redundancy and back-up systems, any such failures by us could result in claims by our clients for substantial damages
against us. Although we attempt to limit the amount and type of our contractual liability for defects in the applications or systems
we provide, and carry insurance coverage that mitigates this liability in certain instances, we cannot be assured that these limitations
and insurance coverages will be applicable and enforceable in all cases. Even if these limitations and insurance coverages are
found to be applicable and enforceable, our liability to our clients for these types of claims could still exceed our insurance
coverage and be material in amount and affect our business, financial condition and results of operations.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>We may be unable to protect our proprietary
software and methodology.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our success depends, in part, upon our proprietary
software, methodology and other intellectual property rights. We rely upon a combination of trade secrets, nondisclosure and other
contractual arrangements, and copyright and trademark laws to protect our proprietary rights. We generally enter into nondisclosure
and confidentiality agreements with our employees, partners, consultants, independent sales agents and clients, and limit access
to and distribution of our proprietary information. We cannot be certain that the steps we take in this regard will be adequate
to deter misappropriation of our proprietary information or that we will be able to detect unauthorized use and take appropriate
steps to enforce our intellectual property rights. Furthermore, statutory contracting regulations protect the rights of federal
agencies to retain access to, and utilization of, proprietary intellectual property utilized in the delivery of contracted services
to such agencies. If we are unable to protect our proprietary software and methodology, the value of our business may decrease
and we may face increased competition.</P>

<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"><B><I>Assertions by a third party that our software products
or technology infringes its intellectual property, whether or not correct, could subject us to costly and time-consuming litigation
or expensive licenses.</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; text-indent: 0.5in">Although we believe that our services and
products do not infringe on the intellectual property rights of others, infringement claims may be asserted against us in the future.
There is frequent litigation in the communications and technology industries based on allegations of infringement or other violations
of intellectual property rights. As we face increasing competition, the possibility of intellectual property rights claims against
us may increase. These claims, whether or not successful, could:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>divert management&rsquo;s attention;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>result in costly and time-consuming litigation;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>require us to enter into royalty or licensing agreements, which may not be available on acceptable terms, or at all; or</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>require us to redesign our software products to avoid infringement.</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">As a result, any third-party intellectual property claims against
us could increase our expenses and impair our business.</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: 0.5in">In addition, although we have licensed proprietary
technology, we cannot be certain that the owners&rsquo; rights in such technology will not be challenged, invalidated or circumvented.
Furthermore, many of our customer agreements require us to indemnify our customers for certain third-party intellectual property
infringement claims, which could increase our costs as a result of defending such claims and may require that we pay damages if
there were an adverse ruling related to any such claims. These types of claims could harm our relationships with our customers,
may deter future customers from purchasing our software products or could expose us to litigation for these claims. Even if we
are not a party to any litigation between a customer and a third party, an adverse outcome in any such litigation could make it
more difficult for us to defend our intellectual property in any subsequent litigation in which we are a named party.</P>

<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"><B><I>Our net operating loss carry-forwards may be subject to
a valuation adjustment if we do not maintain and increase our profitability.</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; text-indent: 0.5in">As of September 30, 2013, we had aggregate
federal net operating loss carry-forwards of approximately $19.8 million and state net operating loss carry-forwards of approximately
$12.1 million. Our ability to utilize our net operating loss carry-forwards and related deferred tax assets is based upon our ability
to generate future taxable income. Our ability to generate future taxable income can be impacted by many circumstances. If we fail
to maintain or increase our recent profitability, our net operating loss carry-forwards and related deferred tax assets may be
subject to a valuation adjustment that would reduce their potential value. In addition, net operating loss carry-forwards may become
subject to an annual limitation if there is a cumulative change in the ownership interest of significant stockholders (or certain
stockholder groups) over a three-year period in excess of 50%, in accordance with rules established under Section 382 of the Internal
Revenue Code of 1986, as amended, or the Code, and similar state rules (we refer to each as an ownership change). Such an ownership
change could limit the amount of historic net operating loss carry-forwards that can be utilized annually to offset future taxable
income.</P>

<P STYLE="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>The loss of key personnel or an inability to attract and
retain additional personnel may impair our ability to grow our business.</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; text-indent: 0.5in">We are highly dependent upon the continued
service and performance of our senior management team and key technical and sales personnel, including our Chief Executive Officer,
Chief Financial Officer, and our key senior managers. The replacement of these individuals likely would involve expenditure of
significant time and financial resources, and their loss might significantly delay or prevent the achievement of our business objectives.
We do not maintain key man life insurance with respect to any of our executives.</P>

<P STYLE="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">We plan to continue to expand our work force
both domestically and internationally to increase our customer base and revenue. We face intense competition for qualified individuals
from numerous consulting, technology, software and communications companies. Our ability to achieve significant revenue growth
will depend, in large part, on our success in recruiting, training and retaining sufficient numbers of personnel to support our
growth. New hires may require significant training and may take significant time before they achieve full productivity. If our
recruiting, training and retention efforts are not successful or do not generate a corresponding increase in revenue, our business
will be harmed.</P>

<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">In addition, if our key employees resign
from us or our subsidiaries to join a competitor or to form a competing company, the loss of such personnel and any resulting loss
of existing or potential clients to any such competitor could have a material adverse effect on our business, financial condition
and results of operations. Although we require certain of our employees to sign agreements prohibiting them from joining a competitor,
forming a competing company or soliciting our clients or employees for certain periods of time, we cannot be certain that these
agreements will be effective in preventing our key employees from engaging in these actions or that courts or other adjudicative
entities will substantially enforce these agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 0in"><B><I>We may need to obtain additional funding
to meet our future capital needs. If we are unable to obtain such financings, we may be required to significantly cut back our
operations, sell assets or cease operations.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">We
may require additional funding to support our operations. Additional funding may be unavailable on favorable terms, if at all.
If we are unable to obtain sufficient additional funding when needed, we may have to significantly cut back our operations, defer
potentially favorable acquisitions, and/or sell some or all of our assets.</FONT></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have a credit facility agreement, which requires
us to maintain certain financial covenants and failure to maintain such covenants could limit our access to debt capital and simultaneously
require immediate payment of borrowings by our lender.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Historically,
we have had access to a credit facility, which consists of a variable line of credit and a fixed term note to fund acquisition
growth and working capital. Our credit facility agreement requires us to maintain certain financial covenants on a quarterly and
annual basis. We anticipate that we will not be in compliance with our debt service coverage ratio as of December 31, 2013. Our
debt service coverage ratio is computed as our average rolling four quarter earnings before interest, taxes, depreciation and amortization
to current maturities due within the next fiscal year. We are working with our lender to obtain a waiver of our debt service coverage
ratio requirement as of December 31, 2013, but there can be no assurances that we will be able to obtain such waiver now or in
the future. Our inability to obtain a waiver of our debt service coverage ratio or any other financial covenant requirement as
of December 31, 2013 or any future period could result in our lender accelerating in part or in full payment of all unpaid principal
and interest which could have an adverse our ability to fund acquisition initiatives using debt and fund operational short falls.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>The loss of one or more significant
customers could have an adverse impact on our results of operations.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Historically,
we have derived, and may in the future derive, a significant percentage of our total revenues from a relatively small number of
clients. For the nine months ended September 30, 2013, the Transportation Security Administration and the Department of Homeland
Security represented 19% and 17%, respectively, of our revenues. In December 2013, we began performing work under a new blanket
purchase agreement from the Department of Homeland Security for cellular wireless management services that will significantly increase
the percentage of our revenues that are derived from the Department of Homeland Security. Due to the nature of our business and
the relative size of certain contracts, which are entered into in the ordinary course of business, the loss of any single significant
customer, including the above customers, could have a material adverse effect on results.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>We may incur substantial costs in connection
with contracts awarded through a competitive procurement process, which could negatively impact our operating results.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Many federal government contracts are awarded
through a competitive procurement process. We expect that much of the government business we seek in the foreseeable future will
be awarded through competitive procedures. Competitive procurements impose substantial costs and present a number of risks, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the substantial cost and managerial time and effort that we spend to prepare bids and proposals for contracts that may not
be awarded to us; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the expense and delay that we may face if our competitors protest or challenge contract awards made to us pursuant to competitive
procedures, and the risk that any such protest or challenge could result in the resubmission of offers, or in termination, reduction,
or modification of the awarded contract.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">The
costs we incur in the competitive procurement process may be substantial and, to the extent we participate in competitive procurements
and are unable to win particular contracts, these costs could negatively affect our operating results. In addition, the General
Services Administration multiple award schedule contracts, government-wide acquisitions contracts, blanket purchase agreements,
and other indefinite delivery/indefinite quantity contracts do not guarantee more than a minimal amount of work for us, but instead
provide us access to work generally through further competitive procedures. This competitive process may result in increased competition
and pricing pressure, requiring that we make sustained post-award efforts to realize revenues under the relevant contract.</FONT></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>Unfavorable government audit results
could subject us to a variety of penalties and sanctions, and could harm our reputation and relationships with our clients.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The federal government audits and reviews
our performance on contracts, pricing practices, cost structure, and compliance with applicable laws, regulations, and standards.
Like most large government contractors, our contracts are audited and reviewed on a continual basis by federal agencies, including
the Defense Contract Audit Agency. An unfavorable audit of us, or of our subcontractors, could have a substantial adverse effect
on our operating results. For example, any costs that were originally reimbursed could subsequently be disallowed. In this case,
cash we have already collected may need to be refunded.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">If
a government audit uncovers improper or illegal activities, we may be subject to civil and criminal penalties and administrative
sanctions, including termination of contracts, forfeiture of profits, suspension of payments, fines, and suspension or debarment
from doing business with U.S. government agencies. In addition, we could suffer serious harm to our reputation if allegations of
impropriety were made against us, whether or not true.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>Security breaches in sensitive government
systems could result in the loss of clients and negative publicity.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Many
of the services we provide involve managing and protecting information involved in intelligence, national security, and other sensitive
or classified government functions. A security breach in one of these systems could cause serious harm to our business, damage
our reputation, and prevent us from being eligible for further work on sensitive or classified systems for federal government clients.
We could incur losses from such a security breach that could exceed the policy limits under our errors and omissions and product
liability insurance. Damage to our reputation or limitations on our eligibility for additional work resulting from a security breach
in one of the systems we develop, install, and maintain could materially reduce our revenues.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>Our failure to obtain and maintain necessary
security clearances may limit our ability to perform classified work for government clients, which could cause us to lose business.</I></B></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Some
government contracts require us to maintain facility security clearances, and require some of our employees to maintain individual
security clearances. If our employees lose or are unable to timely obtain security clearances, or we lose a facility clearance,
the government client can terminate the contract or decide not to renew it upon its expiration. As a result, to the extent we cannot
obtain or maintain the required security clearances for a particular contract, or we fail to obtain them on a timely basis, we
may not derive the revenues anticipated from the contract, which, if not replaced with revenues from other contracts, could harm
our operating results. To the extent we are not able to obtain facility security clearances or engage employees with the required
security clearances for a particular contract, we will be unable to perform that contract and we may not be able to compete for
or win new contracts for similar work.</FONT></P>

<P STYLE="font: italic bold 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: 0in"><B><I>Changes in the spending policies or
budget priorities of the federal government could cause us to lose revenues.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We derive a significant amount of our revenues
from contracts funded by federal government agencies. We believe that contracts with federal government agencies and defense agencies
in particular, will be a significant source of our revenues for the foreseeable future. Accordingly, changes in federal government
fiscal or spending policies or the U.S. defense budget could directly affect our financial performance. Among the factors that
could harm our business are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>Curtailment of the federal government&rsquo;s use of technology services firms;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>a significant decline in spending by the federal government, in general, or by specific agencies such as the Department of
Defense;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>budget cuts intended to avoid sequestration;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>reductions in federal government programs or requirements, including reductions in connection with sequestration;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>any failure to raise the debt ceiling;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>a shift in spending to federal programs and agencies that we do not support or where we currently do not have contracts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>delays in the payment of our invoices by government payment offices;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>federal governmental shutdowns, such as the shutdown that occurred during the government&rsquo;s 2013 fiscal year, and other
potential delays in the government appropriations process; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>general economic and political conditions, including any event that results in a change in spending priorities of the federal
government.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal">These
or other factors could cause federal government agencies and departments to delay payments owed for our services, to reduce their
purchases under contracts, to exercise their right to terminate contracts, or not to exercise options to renew contracts, any of
which could cause us to lose revenues. In addition, any limitations imposed on spending by U.S. government agencies that result
from efforts to reduce the federal deficit, including as a result of sequestration or otherwise, may limit both the continued funding
of our existing contracts and our ability to obtain additional contracts.</FONT></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Federal government contracts contain provisions
giving government clients a variety of rights that are unfavorable to us, including the ability to terminate a contract at any
time for convenience.</P>

<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">Federal government contracts contain provisions
and are subject to laws and regulations that provide government clients with rights and remedies not typically found in commercial
contracts. These rights and remedies allow government clients, among other things, to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>terminate existing contracts, with short notice, for convenience, as well as for default;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>reduce orders under or otherwise modify contracts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>for larger contracts subject to the Truth in Negotiations Act, reduce the contract price or cost where it was increased because
a contractor or subcontractor during negotiations furnished cost or pricing data that was not complete, accurate, and current;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>for GSA multiple award schedule contracts, government-wide acquisition agreements, and blanket purchase agreements, demand
a refund, make a forward price adjustment, or terminate a contract for default if a contractor provided inaccurate or incomplete
data during the contract negotiation process, or reduce the contract price under certain triggering circumstances, including the
revision of pricelists or other documents upon which the contract award was predicated, the granting of more favorable discounts
or terms and conditions than those contained in such documents, and the granting of certain special discounts to certain clients;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>terminate our facility security clearances and thereby prevent us from receiving classified contracts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>cancel multi-year contracts and related orders if funds for contract performance for any subsequent year become unavailable;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>decline to exercise an option to renew a multi-year contract or issue task orders in connection with indefinite delivery/indefinite
quantity contracts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>claim rights in solutions, systems, and technology produced by us;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>prohibit future procurement awards with a particular agency due to a finding of organizational conflict of interest based upon
prior related work performed for the agency that would give a contractor an unfair advantage over competing contractors or the
existence of conflicting roles that might bias a contractor&rsquo;s judgment;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>subject the award of contracts to protest by competitors, which may require the contracting federal agency or department to
suspend our performance pending the outcome of the protest and may also result in a requirement to resubmit offers for the contract
or in the termination, reduction, or modification of the awarded contract; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>suspend or debar us from doing business with the federal government.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">If a federal government client terminates
one of our contracts for convenience, we may recover only our incurred or committed costs, settlement expenses, and profit on work
completed prior to the termination. If a federal government client were to unexpectedly terminate, cancel, or decline to exercise
an option to renew with respect to one or more of our significant contracts or suspend or debar us from doing business with the
federal government, our revenues and operating results would be materially harmed.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our failure to comply with complex procurement laws
and regulations could cause us to lose business and subject us to a variety of penalties.</P>

<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">We must comply with laws and regulations
relating to the formation, administration, and performance of federal government contracts, which affect how we do business with
our federal government clients and may impose added costs on our business. Among the most significant laws and regulations are:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the Federal Acquisition Regulation, and agency regulations analogous or supplemental to the Federal Acquisition Regulation,
which comprehensively regulate the formation, administration, and performance of government contracts;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the Truth in Negotiations Act, which requires certification and disclosure of all cost or pricing data in connection with some
contract negotiations;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>the Cost Accounting Standards, which impose cost accounting requirements that govern our right to reimbursement under some
cost-based government contracts; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>laws, regulations, and executive orders restricting the use and dissemination of information classified for national security
purposes and the exportation of specified solutions and technical data.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a government review or investigation
uncovers improper or illegal activities, we may be subject to civil and criminal penalties and administrative sanctions, including
the termination of our contracts, the forfeiture of profits, the suspension of payments owed to us, fines, and our suspension or
debarment from doing business with federal government agencies. In particular, the civil False Claims Act provides for treble damages
and potentially substantial civil penalties where, for example, a contractor presents a false or fraudulent claim to the government
for payment or approval, or makes a false statement in order to get a false or fraudulent claim paid or approved by the government.
Actions under the civil False Claims Act may be brought by the government or by other persons on behalf of the government. These
provisions of the civil False Claims Act permit parties, such as our employees, to sue us on behalf of the government and share
a portion of any recovery. Any failure to comply with applicable laws and regulations could result in contract termination, price
or fee reductions, or suspension or debarment from contracting with the government, each of which could lead to a material reduction
in our revenues.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">The adoption of new procurement laws or regulations
could reduce the amount of services that are outsourced by the federal government and cause us to experience reduced revenues.</P>

<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">New legislation, procurement regulations,
or labor organization pressure could cause federal agencies to adopt restrictive procurement practices regarding the use of outside
service providers. The American Federation of Government Employees, the largest federal employee union, strongly endorses legislation
that may restrict the procedure by which services are outsourced to government contractors. One such proposal, the Truthfulness,
Responsibility, and Accountability in Contracting Act, would have effectively reduced the volume of services that is outsourced
by the federal government by requiring agencies to give in-house government employees expanded opportunities to compete against
contractors for work that could be outsourced. If such legislation, or similar legislation, were to be enacted, it would likely
reduce the amount of IT services that could be outsourced by the federal government, which could materially reduce our revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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"><B><I>If the market for our information technology based managed
mobility solutions does not grow as we expect, our business will be harmed.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The markets for our information technology
based managed mobility solutions are developing, and it is not certain whether these services will achieve market acceptance and
sustain high demand. Some potential customers have invested substantial personnel and financial resources into developing internal
solutions for communications management, so they may not perceive the benefit of our external solution. If potential customers
do not perceive the benefits of our products, services and solutions, then the markets may not continue to develop or may develop
more slowly than we expect, either of which would reduce our revenue and profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>If we are unable to retain our existing customers, our
revenue and results of operations would grow more slowly than expected or decline and our results of operations would be impaired.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We sell our information technology based
managed mobility solutions software products and related services pursuant to agreements that are generally one to five years in
duration. Many times they are in the form of a one year agreement with one to four year option periods. Our customers have no obligation
to renew their agreements after their terms expire and some of our customers may terminate their agreements for convenience. These
agreements may not be maintained or renewed on the same or on more profitable terms. As a result, our ability to both maintain
and grow our revenue depends in part on customer renewals. We may not be able to accurately predict future trends in customer renewals,
and our customers&rsquo; renewal rates may decline or fluctuate because of several factors, including their satisfaction or dissatisfaction
with our products, services, and or solutions, the prices of our managed mobility solutions software products, the prices of products
and services offered by our competitors or reductions in our customers&rsquo; spending levels. In addition, customers that are
acquired by companies using competing service offerings may be required to begin using those competing service offerings, rather
than renew their license arrangements with us. If our customers do not renew their agreements for our communications management
solutions software products, renew on less favorable terms, or do not purchase additional functionality, our revenue may grow more
slowly than expected or decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our sales cycles can be long, unpredictable and require
considerable time and expense, which may cause our operating results to fluctuate.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our sales cycle, which is the time between
initial contact with a potential customer and the ultimate sale, is often lengthy and unpredictable. Some of our potential customers
may already have partial managed mobility solutions in place under fixed-term contracts, which may limit their ability to commit
to purchase our solution in a timely fashion. In addition, our potential customers typically undertake a significant evaluation
process that can last six to nine months or more, and which requires us to expend substantial time, effort and money educating
them about the capabilities of our offerings and the potential cost savings they can bring to an organization. Furthermore, the
purchase of our solution typically also requires coordination and agreement across many departments within a potential customer&rsquo;s
organization, which further contributes to our lengthy sales cycle. As a result, we have limited ability to forecast the timing
and size of specific sales. Any delay in completing, or failure to complete, sales in a particular quarter or year could harm our
business and could cause our operating results to vary significantly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>If a communications carrier prohibits customer disclosure
of communications billing and usage data to us, the value of our solution to customers of that carrier would be impaired, which
may limit our ability to compete for their business.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain of our information technology based
managed mobility solutions software functionality and services that we offer depend on our ability to access a customer&rsquo;s
communications billing and usage data. For example, our ability to offer outsourced or automated communications bill auditing,
billing dispute resolution, bill payment, cost allocation and expense optimization depends on our ability to access this data.
If a communications carrier were to prohibit its customers from disclosing this information to us, those enterprises would only
be able to use these billing-related aspects of our solution on a self-serve basis, which would impair some of the value of our
solution to those enterprises. This in turn could limit our ability to compete with the internally developed communications management
solutions of those enterprises, require us to incur additional expenses to license access to that billing and usage data from the
communications carrier, if such a license is made available to us at all, or put us at a competitive disadvantage against any third-party
communications management solutions service provider that licenses access to that data.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our long-term success in the managed mobility solutions
industry depends, in part, on our ability to expand the sales of our solutions to customers located outside of the United States,
and thus our business is susceptible to risks associated with international sales and operations.</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; text-indent: 0.5in">We are currently seeking to expand the international
sales and operations of our portfolio of solutions. This international expansion will subject us to new risks that we have not
faced in the United States. These risks include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>geographic localization of our software products, including translation into foreign languages and adaptation for local practices
and regulatory requirements;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>lack of familiarity with and unexpected changes in foreign regulatory requirements;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>longer accounts receivable payment cycles and difficulties in collecting accounts receivable;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>difficulties in managing, staffing and overseeing international implementations and operations, including increased reliance
on foreign subcontractors;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>challenges in integrating our software with multiple country-specific billing or communications support systems for international
customers;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>challenges in providing procurement, help desk and fulfillment capabilities for our international customers;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations in currency exchange rates;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potentially adverse tax consequences, including the complexities of foreign value added or other tax systems and restrictions
on the repatriation of earnings;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the burdens of complying with a wide variety of foreign laws and legal standards;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increased financial accounting and reporting burdens and complexities;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potentially slower adoption rates of communications management solutions services internationally;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>political, social and economic instability abroad, terrorist attacks and security concerns in general; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reduced or varied protection for intellectual property rights in some countries.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Operating in international markets also
requires significant management attention and financial resources. The investment and additional resources required to establish
operations and manage growth in other countries may not produce desired levels of revenue or profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Expansion into international markets could require us
to comply with additional billing, invoicing, communications, data privacy and similar regulations, which could make it costly
or difficult to operate in these markets.</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; text-indent: 0.5in">We recently entered into a Global Master
Services Agreement with Compass Group PLC to provide managed mobility solutions to Compass locations worldwide, which will require
us to comply with various international laws and regulations. Many international regulatory agencies have adopted regulations related
to where and how communications bills may be sent and how the data on such bills must be handled and protected. For instance, certain
countries restrict communications bills from being sent outside of the country, either physically or electronically, while other
countries require that certain information be encrypted or redacted before bills may be transmitted electronically. These regulations
vary from jurisdiction to jurisdiction and international expansion of our business could subject us to additional similar regulations.
Failure to comply with these regulations could result in significant monetary penalties and compliance with these regulations could
require expenditure of significant financial and administrative resources.</P>

<P STYLE="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">In addition, personally identifiable information
is increasingly subject to legislation and regulations in numerous jurisdictions around the world, the intent of which is to protect
the privacy of personal information that is collected, processed and transmitted in or from the governing jurisdiction. Our failure
to comply with applicable privacy laws and regulations or any security breakdown that results in the unauthorized release of personally
identifiable information or other customer data could result in fines or proceedings by governmental agencies or private individuals,
which could harm our results of operations.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>If we fail to effectively manage and develop our strategic
relationships with our channel partners, or if those third parties choose not to market and sell our communications management
solutions, our operating results would suffer.</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; text-indent: 0.5in">The successful implementation of our strategic
goals is dependent in part on strategic relationships with our channel partners to offer our communications management solutions
to a larger customer base than we can reach through our current direct sales and marketing efforts. Some of our strategic relationships
are relatively new and, therefore, it is uncertain whether these third parties will be able to market and sell our solution successfully
or provide the volume and quality of customers that we currently desire.</P>

<P STYLE="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">Our success depends in part on the ultimate
success of our channel partners and their ability to market and sell our communications management solutions. Some of these third
parties may have previously entered, and may in the future enter, into strategic relationships with our competitors. Further, many
of our channel partners have multiple strategic relationships and they may not regard us as significant to their businesses. Our
channel partners may terminate their respective relationships with us, pursue other partnerships or relationships, or attempt to
develop or acquire products or services that compete with our communications management solutions. Our channel partners also may
interfere with our ability to enter into other desirable strategic relationships.</P>

<P STYLE="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">If we are unable to manage and develop our
strategic relationships, the growth of our customer base may be harmed and we may have to devote substantially more resources to
the distribution, sales and marketing of our solution, which would increase our costs and decrease our earnings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The emergence of one or more widely used, standardized
communications devices or billing or operational support systems could limit the value and operability of our solution and our
ability to compete with the manufacturers of such devices or the carriers using such systems in providing managed mobility solutions
services.</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; text-indent: 0.5in">Our solution derives its value in significant
part from our communications management software&rsquo;s ability to interface with and support the interoperation of diverse communications
devices, billing systems and operational support systems. The emergence of a single or a small number of widely used communications
devices, billing systems or operational support systems using consolidated, consistent sets of standardized interfaces for the
interaction between communications service providers and their enterprise customers could significantly reduce the value of our
solution to our customers and potential customers. Furthermore, any such communications device, billing system or operational support
system could make use of proprietary software or technology standards that our software might not be able to support. In addition,
the manufacturer of such device, or the carrier using such billing system or operational support system, might actively seek to
limit the interoperability of such device, billing system or operational support system with our software products for competitive
or other reasons. The resulting lack of compatibility of our software products would put us at a significant competitive disadvantage,
or entirely prevent us from competing, in that segment of the potential managed mobility solutions market if such manufacturer
or carrier, or its authorized licensees, were to develop one or more communications management solutions competitive with our solution.</P>

<P STYLE="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>A continued proliferation and diversification of communications
technologies or devices could increase the costs of providing our software products or limit our ability to provide our software
products to potential customers.</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; text-indent: 0.5in">Our ability to provide our software products
is dependent on the technological compatibility of our products with the communications infrastructures and devices of our customers
and their communications service providers. The development and introduction of new communications technologies and devices requires
us to expend significant personnel and financial resources to develop and maintain interoperability of our software products with
these technologies and devices. The communications industry has recently been characterized by rapid change and diversification
in both product and service offerings. Continued proliferation of communications products and services could significantly increase
our research and development costs and increase the lag time between the initial release of new technologies and products and our
ability to provide support for them in our software products, which would limit the potential market of customers that we have
the ability to serve.</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"><B><I>Actual or perceived breaches of our security measures,
or governmental required disclosure of customer information could diminish demand for our solution and subject us to substantial
liability.</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; text-indent: 0.5in">In the processing of communications transactions,
we receive, transmit and store a large volume of sensitive customer information, including call records, billing records, contractual
terms, and financial and payment information, including credit card information, and we have entered into contractual obligations
to maintain the confidentiality of certain of this information. Any person who circumvents our security measures could steal proprietary
or confidential customer information or cause interruptions in our operations and any such lapse in security could expose us to
litigation, substantial contractual liabilities, loss of customers or damage to our reputation or could otherwise harm our business.
We incur significant costs to protect against security breaches and may incur significant additional costs to alleviate problems
caused by any breaches. In addition, if we are required to disclose any of this sensitive customer information to governmental
authorities, that disclosure could expose us to a risk of losing customers or could otherwise harm our business.</P>

<P STYLE="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">If customers believe that we may be subject
to requirements to disclose sensitive customer information to governmental authorities, or that our systems and software products
do not provide adequate security for the storage of confidential information or its transmission over the Internet or corporate
extranets, or are otherwise inadequate for Internet or extranet use, our business will be harmed. Customers&rsquo; concerns about
security could deter them from using the Internet to conduct transactions that involve confidential information, including transactions
of the types included in our solution, so our failure to prevent security breaches, or the occurrence of well-publicized security
breaches affecting the Internet in general, could significantly harm our business and financial results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Defects or errors in our software products could harm
our reputation, impair our ability to sell our products and result in significant costs to us.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our software products are highly complex
and may contain undetected defects or errors, that may result in product failures or otherwise cause our software products to fail
to perform in accordance with customer expectations. Because our customers use our software products for important aspects of their
businesses, any defects or errors in, or other performance problems with, our software products could hurt our reputation and may
damage our customers&rsquo; businesses. If that occurs, we could lose future sales or our existing customers could elect to not
renew their customer agreements with us. Product performance problems could result in loss of market share, failure to achieve
market acceptance and the diversion of development resources from software enhancements. If our software products fail to perform
or contain a technical defect, a customer might assert a claim against us for damages. Whether or not we are responsible for our
software&rsquo;s failure or defect, we could be required to spend significant time and money in litigation, arbitration or other
dispute resolution, and potentially pay significant settlements or damages.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We provide minimum service-level commitments to many of
our customers, and our inability to meet those commitments could result in significant loss of customers, harm to our reputation
and costs to us.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Many of our customer agreements currently,
and may in the future, require that we meet minimum service level commitments regarding items such as platform availability, invoice
processing speed and order processing speed. If we are unable to meet the stated service level commitments under these agreements
many of our customers will have the right to terminate their agreements with us and we may be contractually obligated to provide
our customers with credits or pay other penalties. If our software products are unavailable for significant periods of time we
may lose a substantial number of our customers as a result of these contractual rights, we may suffer harm to our reputation and
we may be required to provide our customers with significant credits or pay our customers significant contractual penalties, any
of which could harm our business, financial condition, results of operations.</P>

<P STYLE="font: bold 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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related To Our Common Stock</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our common stock price could be volatile.</P>

<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">The stock market has, from time to time,
experienced extreme price and volume fluctuations. The market prices of the securities of companies in our industry have been especially
volatile. Broad market fluctuations of this type may adversely affect the market price of our common stock.</P>

<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">The market price of our common stock has
experienced, and may continue to be subject to volatility due to a variety of factors, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>public announcements concerning us, our competitors or our industry;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>fluctuations in operating results;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>introductions of new products or services by us or our competitors;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>changes in analysts&rsquo; earnings estimates; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>announcements of technological innovations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">In the past, some companies that have experienced
volatility in the market price of their stock have been the object of securities class action litigation. If we were the object
of securities class action litigation, we could incur substantial costs and experience a diversion of our management&rsquo;s attention
and resources and such securities class action litigation could have a material adverse effect on our business, financial condition
and results of operations.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">A third party could be prevented from acquiring
shares of our common stock at a premium to the market price because of our anti-takeover provisions.</P>

<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">Various provisions of our certificate of
incorporation, by-laws and Delaware law could make it more difficult for a third party to acquire us, even if doing so might be
beneficial to you and our other stockholders. See &ldquo;Description of Capital Stock &ndash; Delaware Law and Certain Charter
and Bylaw Provisions&rdquo; elsewhere in this prospectus for a description of such provisions.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">The future sale of shares of our common stock may
negatively affect our common stock price.</P>

<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">If our stockholders sell substantial amounts
of our common stock, the market price of our common stock could fall. These sales also might make it more difficult for us to sell
equity securities in the future at a time and price that we deem appropriate.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">We could issue additional shares of common stock,
which might dilute the book value of our common stock.</P>

<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">We have a total of 110,000,000 authorized
shares of common stock, of which 63,907,357 shares were issued and outstanding as of January 3, 2014. In addition, we had options
outstanding as of that date with respect to which 3,361,500 shares of common stock were reserved for issuance. Our board of directors
has the authority, without action or vote of our stockholders in most cases, to issue all or a part of any authorized but unissued
shares of our common stock. Such stock issuances may be made at a price that reflects a discount from the then-current trading
price of our common stock. In addition, in order to raise capital for acquisitions or other general corporate purposes, we would
likely need to issue securities that are convertible into or exercisable for a significant number of shares of our common stock.
These issuances would dilute our stockholders percentage ownership interest, which would have the effect of reducing our stockholders
influence on matters on which our stockholders vote, and might dilute the book value of our common stock. You may incur additional
dilution of net tangible book value if holders of stock options or warrants, whether currently outstanding or subsequently granted,
exercise their options or warrants to purchase shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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"><B><I>Our quarterly operating results may fluctuate in the future.
As a result, we may fail to meet or exceed the expectations of research analysts or investors, which could cause our stock price
to decline.</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">Our quarterly operating results may fluctuate as a result of
a variety of factors, many of which are outside of our control. If our quarterly operating results or guidance fall below the expectations
of research analysts or investors, the price of our common stock could decline substantially. Fluctuations in our quarterly operating
results or guidance may be due to a number of factors, including, but not limited to:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to attract new customers, obtain renewals from existing customers and increase sales to existing customers;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the purchasing and budgeting cycles of our customers;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in our pricing policies or those of our competitors;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the amount and timing of operating costs and capital expenditures related to the operation, maintenance and expansion of our
business;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>service outages or security breaches;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the timing and success of new service introductions and upgrades by us or our competitors;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the timing of costs related to the development or acquisition of technologies, services or businesses;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the timing of collection of payments from channel partners;</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the financial condition of our customers; and</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: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general economic, industry and market conditions.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We do not expect to declare any dividends in the foreseeable
future.</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; text-indent: 0.5in">We do not anticipate declaring any cash
dividends to holders of our common stock in the foreseeable future. Consequently, investors must rely on sales of their common
stock after price appreciation, which may never occur, as the only way to realize any future gains on their investment. Investors
seeking cash dividends should not purchase our common stock.</P>

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

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

<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">Unless otherwise described in the applicable
prospectus supplement, we intend to use the net proceeds from the sale of the securities for general corporate purposes, including
the repayment of debt, acquiring businesses and investing in other businesses. Pending such use, we may temporarily invest the
net proceeds in short-term investments.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Description
of Debt Securities</P>

<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">The following description of the terms of
the debt securities sets forth general terms that may apply to the debt securities and provisions of the indenture that will govern
the debt securities, and is not complete. We will describe the particular terms of any debt securities in the prospectus supplement
relating to those debt securities.</P>

<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">The debt securities will be our senior debt
securities and will be issued under an indenture between us and a trustee, a form of which is incorporated by reference into this
prospectus and attached as an exhibit to the registration statement of which this prospectus is a part. See &ldquo;Where You Can
Find More Information.&rdquo; We refer to this indenture as the &ldquo;indenture.&rdquo;</P>

<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">The following is a summary of some provisions
of the indenture. The following summary does not purport to be complete, and is subject to, and qualified in its entirety by reference
to, all of the provisions of the indenture, including the definitions of specified terms used in the indenture, and the debt securities.
We encourage you to read the indenture and the debt securities because they, and not this description, set forth your rights as
a holder of our debt securities. We will describe the particular terms of any debt securities in the prospectus supplement relating
to those debt securities. Parenthetical section references under this heading are references to sections in the indenture unless
we indicate otherwise.</P>

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

<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">The indenture does not limit the amount
of debt securities that we may issue. (Section 301). The indenture provides that debt securities may be issued up to the principal
amount authorized by us from time to time. The debt securities will be unsecured and will have the same rank as all of our other
unsecured debt. None of our subsidiaries, if any, will have any obligations with respect to the debt securities. Therefore, our
rights and the rights of our creditors, including holders of senior debt securities and subordinated debt securities, to participate
in the assets of any subsidiary will be subject to the prior claims of the creditors of any such subsidiaries.</P>

<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">We may issue the debt securities in one
or more separate series of senior debt securities. (Section 301). The prospectus supplement relating to the particular series of
debt securities being offered will specify the particular amounts, prices and terms of those debt securities. These terms may include:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the title of the debt securities and the series in which the debt securities will be included;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the authorized denominations and aggregate principal amount of the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date or dates on which the principal and premium, if any, are payable;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rate or rates per annum at which the debt securities will bear interest, if there is any interest, or the method or methods
of calculating interest and the date from which interest will accrue;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the place or places where the principal of and any premium and interest on the debt securities will be payable;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the dates on which the interest will be payable and the corresponding record dates;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the period or periods within which, the price or prices at which, and the terms and conditions on which, the debt securities
may be redeemed, in whole or in part, at our option;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether the debt securities of the series will be issued in whole or in part;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether the debt securities of the series will be issued in the form of a global security and, if so, the name of the applicable
depositary and global exchange agent;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any obligation to redeem, repay or purchase debt securities pursuant to any sinking fund or analogous provisions or at the
option of a holder;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the portion of the principal amount of the debt securities payable upon declaration of the acceleration of the maturity of
the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the person to whom any interest on any debt security will be payable if other than the person in whose name the debt security
is registered on the applicable record date;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any events of default, covenants or warranties applicable to the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the currency, currencies or composite currency of denomination of the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the currency, currencies or composite currencies in which payments on the debt securities will be payable and whether the holder
may elect payment to be made in a different currency;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether and under what conditions we will pay additional amounts to holders of the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the terms and conditions of any conversion or exchange provisions in respect of the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the terms pursuant to which our obligation under the indenture may be terminated through the deposit of money or government
obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether the debt securities of the series will be subordinated in right of payment to senior indebtedness; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other specific terms of the debt securities not inconsistent with the indenture. (Section 301).</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Unless otherwise specified in the applicable
prospectus supplement, the debt securities will not be listed on any securities exchange.</P>

<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">Unless the applicable prospectus supplement
specifies otherwise, we will issue the debt securities in fully registered form without coupons. If we issue debt securities of
any series in bearer form, the applicable prospectus supplement will describe the special restrictions and considerations, including
special offering restrictions and special federal income tax considerations, applicable to those debt securities and to payment
on and transfer and exchange of those debt securities.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Federal Income Tax Considerations</P>

<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">We may issue the debt securities as original
issue discount securities, bearing no interest or bearing interest at a rate, which, at the time of issuance, is below market rates,
to be sold at a substantial discount below their principal amount. We will describe some special U.S. federal income tax and other
considerations applicable to any debt securities that are issued as original issue discount securities in the applicable prospectus
supplement. We encourage you to consult with your own tax and financial advisors on these important matters.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment, Registration, Transfer and Exchange</P>

<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">Subject to any applicable laws or regulations,
we will make payments on the debt securities at a designated office or agency, unless the applicable prospectus supplement otherwise
sets forth. At our option, however, we may also make interest payments on the debt securities in registered form:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by checks mailed to the persons entitled to interest payments at their registered addresses; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by wire transfer to an account maintained by the person entitled to interest payments as specified in the security register.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Unless the applicable prospectus supplement
otherwise indicates, we will pay any installment of interest on debt securities in registered form to the person in whose name
the debt security is registered at the close of business on the regular record date for that installment of interest. (Section
307). If a holder wishes to receive payment by wire transfer, the holder should provide the paying agent with written wire transfer
instructions at least 15 days prior to the payment date.</P>

<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">Unless the applicable prospectus supplement
otherwise sets forth, debt securities issued in registered form will be transferable or exchangeable at the agency we may designate
from time to time. Debt securities may be transferred or exchanged without service charge, other than any tax or other governmental
charge imposed in connection with the transfer or exchange. (Section 305).</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Book-Entry Procedures</P>

<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">The applicable prospectus supplement for
each series of debt securities will state whether those debt securities will be subject to the following provisions.</P>

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


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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless debt securities in physical form
are issued, the debt securities will be represented by one or more fully-registered global certificates, in denominations of $1,000
or any integral multiple of $1,000. Each global certificate will be deposited with, or on behalf of, The Depository Trust Company,
which we refer to in this prospectus as DTC, and registered in its name or in the name of Cede &amp; Co. or other nominee of DTC.
No holder of debt securities initially issued as a global certificate will be entitled to receive a certificate in physical form,
except as set forth below.</P>

<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">DTC has advised us that:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>DTC is:</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a &ldquo;banking organization&rdquo; within the meaning of the New York banking law;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a limited purpose trust company organized under the New York banking law;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a member of the Federal Reserve System;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a &ldquo;clearing corporation&rdquo; within the meaning of the New York Uniform Commercial Code; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a &ldquo;clearing agency&rdquo; registered pursuant to Section 17A of the Securities Exchange Act of 1934, as amended, or the
Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>DTC holds securities for DTC participants and facilitates the settlement of securities transactions between DTC participants
through electronic book-entry transfers and pledges, thereby eliminating the need for physical movement of certificates.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>DTC participants include securities brokers and dealers, banks, trust companies, clearing corporations and other organizations.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Access to DTC&rsquo;s book-entry system is also available to others, such as banks, brokers, dealers, trust companies and clearing
corporations that clear through or maintain a custodial relationship with a DTC participant, either directly or indirectly.</TD></TR></TABLE>

<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">Holders that are not DTC participants but
desire to purchase, sell or otherwise transfer ownership of, or other interests in, the debt securities may do so only through
DTC participants. In addition, holders of the debt securities will receive all distributions of principal and interest from the
trustee through DTC participants. Under the rules, regulations and procedures creating and affecting DTC and its operation, DTC
is required to make book-entry transfers of debt securities among DTC participants on whose behalf it acts and to receive and transmit
distributions of principal of, and interest on, the debt securities. Under the book-entry system, holders of debt securities may
experience some delay in receipt of payments, since the trustee will forward such payments to Cede &amp; Co., as nominee for DTC,
and DTC, in turn, will forward the payments to the appropriate DTC participants.</P>

<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">DTC participants will be responsible for
distributions to holders of debt securities, which distributions will be made in accordance with customary industry practices.
Although holders of debt securities will not have possession of the debt securities, the DTC rules provide a mechanism by which
those holders will receive payments and will be able to transfer their interests. Although the DTC participants are expected to
convey the rights represented by their interests in any global security to the related holders, because DTC can act only on behalf
of DTC participants, the ability of holders of debt securities to pledge the debt securities to persons or entities that are not
DTC participants or to otherwise act with respect to the debt securities may be limited due to the lack of physical certificates
for the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">Neither we nor the trustee will be responsible
or liable for any aspect of the records relating to, or payments made on account of, beneficial ownership interests in the debt
securities or for supervising or reviewing any records relating to such beneficial ownership interests. Since the only &ldquo;holder
of debt securities,&rdquo; for purposes of the indenture, will be DTC or its nominee, the trustee will not recognize beneficial
holders of debt securities as &ldquo;holders of debt securities,&rdquo; and beneficial holders of debt securities will be permitted
to exercise the rights of holders only indirectly through DTC and DTC participants. DTC has advised us that it will take any action
permitted to be taken by a holder of debt securities under the indenture only at the direction of one or more DTC participants
to whose accounts with DTC the related debt securities are credited.</P>

<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">All payments we make to the trustee will
be in immediately available funds and will be passed through to DTC in immediately available funds.</P>

<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">Physical certificates will be issued to
holders of a global security, or their nominees, if:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>DTC advises the trustee in writing that DTC is no longer willing, able or eligible to discharge properly its responsibilities
as depository and we are unable to locate a qualified successor; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we decide in our sole discretion to terminate the book-entry system through DTC. (Section 305).</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">In such event, the trustee will notify all
holders of debt securities through DTC participants of the availability of such physical debt securities. Upon surrender by DTC
of a definitive global note representing the debt securities and receipt of instructions for reregistration, the trustee will reissue
the debt securities in physical form to holders or their nominees. (Section 305).</P>

<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">Debt securities in physical form will be
freely transferable and exchangeable at the office of the trustee upon compliance with the requirements set forth in the indenture.</P>

<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">No service charge will be imposed for any
registration of transfer or exchange, but payment of a sum sufficient to cover any tax or other governmental charge may be required.
(Section 305).</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Consolidation, Merger or Sale by the Company</P>

<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">The indenture generally permits a consolidation
or merger between us and another U.S. legal entity. It also permits the sale or transfer by us of all or substantially all of our
property and assets to another legal entity. These transactions are permitted if:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>(A) we are the continuing or surviving legal entity, or (B) the resulting or acquiring legal entity, if other than us, assumes
all of our responsibilities and liabilities under the indenture, including the payment of all amounts due on the debt securities
and performance of the covenants in the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>immediately after the transaction, no event of default exists. (Section 801); and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the trustee shall have received an officer&rsquo;s certificate and an opinion stating such consolidation, merger, conveyance,
transfer or lease and, if applicable, the corresponding supplemental indenture, are in compliance with the base indenture.</TD></TR></TABLE>

<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">Even though the indenture contains the provisions
described above, we are not required by the indenture to comply with those provisions if we sell all of our property and assets
to another U.S. legal entity if, immediately after the sale, that legal entity is one of our wholly-owned subsidiaries. (Section
801).</P>

<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">If we consolidate or merge with or into
any other legal entity or sell all or substantially all of our assets according to the terms and conditions of the indenture, the
resulting or acquiring legal entity will be substituted for us in the indenture with the same effect as if it had been an original
party to the indenture. As a result, the successor legal entity may exercise our rights and powers under the indenture, in our
name or in its own name and we will be released from all our liabilities and obligations under the indenture and under the debt
securities. (Section 801).</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Events of Default, Notice and Certain Rights on Default</P>

<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">Unless otherwise stated in the applicable
prospectus supplement, an &ldquo;event of default,&rdquo; when used with respect to any series of debt securities, means any of
the following:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to pay interest on any debt security of that series for 30 days after the payment is due;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to pay the principal of or any premium on any debt security of that series when due;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to deposit any sinking fund payment on debt securities of that series when due;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to perform any other covenant in the indenture that applies to debt securities of that series for 90 days after we
have received written notice of the failure to perform in the manner specified in the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an event of default under any debt by the company or any significant subsidiary of the company (including a default with respect
to any series of debt securities) that results in debt of an outstanding principal amount greater than $50,000,000 becoming or
being declared due and payable;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain events in bankruptcy, insolvency or reorganization; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other event of default that may be specified for the debt securities of that series when that series is created. (Section
502).</TD></TR></TABLE>

<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">If an event of default for any series of
debt securities occurs and continues, the trustee or the holders of at least 25% in aggregate principal amount of the outstanding
debt securities of the series may declare the entire principal of all the debt securities of that series to be due and payable
immediately. If a declaration occurs, the holders of a majority of the aggregate principal amount of the outstanding debt securities
of that series can, subject to certain conditions, rescind the declaration. (Section 502).</P>

<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">The prospectus supplement relating to each
series of debt securities which are original issue discount securities will describe the particular provisions that relate to the
acceleration of maturity of a portion of the principal amount of that series when an event of default occurs and continues.</P>

<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">An event of default for a particular series
of debt securities does not necessarily constitute an event of default for any other series of debt securities issued under the
indenture.</P>

<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">The indenture requires us to furnish an
officer&rsquo;s certificate to the trustee each year as to the knowledge of our principal executive, financial or accounting officer
of our compliance with all conditions and covenants under the indenture. (Section 1008). The trustee will transmit by mail to the
holders of debt securities of a series notice of any default.</P>

<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">Other than its duties in the case of a default,
the trustee will not be obligated to exercise any of its rights or powers under an indenture at the request, order or direction
of any holders, unless the holders offer the trustee indemnification satisfactory to the trustee. (Section 603). If indemnification
satisfactory to the trustee is provided, then, subject to certain other rights of the trustee, the holders of a majority in principal
amount of the outstanding debt securities of any series may, with respect to the debt securities of that series, direct the time,
method and place of:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>conducting any proceeding for any remedy available to the trustee; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>exercising any trust or power conferred upon the trustee. (Section 512).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holder of a debt security of any series
will have the right to begin any proceeding with respect to the indenture or for any remedy only if:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the holder has previously given the trustee written notice of a continuing event of default with respect to that series;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series have made a written
request of, and offered reasonable indemnification to, the trustee to begin the proceeding;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the trustee has not started the proceeding within 60 days after receiving the request; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the trustee has not received directions inconsistent with the request from the holders of a majority in aggregate principal
amount of the outstanding debt securities of that series during those 60 days. (Section 507).</TD></TR></TABLE>

<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">The holders of not less than a majority
in aggregate principal amount of any series of debt securities, by notice to the trustee for that series, may waive, on behalf
of the holders of all debt securities of that series, any past default or event of default with respect to that series and its
consequences. (Section 513). A default or event of default in the payment of the principal of, or premium or interest on, any debt
security and certain other defaults may not, however, be waived. (Sections 508 and 513).</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Modification of the Indenture</P>

<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">We, as well as the trustee for a series
of debt securities, may enter into one or more supplemental indentures, without the consent of, or notice to, the holders of any
of the debt securities, in order to:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>add to our covenants or surrender any of our rights or powers;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>add additional events of default for any series;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change or eliminate any restrictions on the payment of principal of (or premium, if any, on) debt securities, provided such
action will not adversely affect the interest of holders of any series of debt securities in any material respect;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>permit or facilitate the issuance of debt securities in uncertificated form, provided such action will not adversely affect
the interests of holders of any series of debt securities in any material respect;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>secure the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>establish the form or terms of debt securities not yet issued;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>evidence and provide for successor trustees;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>add, change or eliminate any provision affecting registration as to principal of debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change or eliminate provisions or add any other provisions that are required or desirable in accordance with any amendments
to the Trust Indenture Act of 1939, which we refer to in this prospectus as the Trust Indenture Act, on the condition that this
action does not adversely affect the interests of any holder of debt securities of any series issued under the indenture in any
material respect;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&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 Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>comply with requirements of the SEC in order to maintain the qualification of the indenture under the Trust Indenture Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>provide for uncertificated debt securities in addition to or in place of certificated debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>make any change that would provide additional rights or benefits to holders of debt securities or any series, or that does
not adversely affect the legal rights of such holders under the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>supplement any provisions of the indenture to facilitate defeasance and discharge of any series of debt securities, provided
such action will not adversely affect the interest of the holders of debt securities of such series or any other series;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>conform text of the indenture or any debt securities to the description thereof in any prospectus supplement;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>cure any ambiguity or correct any mistake; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to make any other provision with respect to the indenture, provided that such actions will not adversely affect the interests
of the holders, as determined in good faith by the board of directors of the company (Section 901).</TD></TR></TABLE>

<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">In addition, with the consent of the holders
of not less than a majority in aggregate principal amount of the outstanding debt securities of all series affected by the supplemental
indenture, we and the trustee may execute supplemental indentures adding any provisions to or changing or eliminating any of the
provisions of the indenture or any supplemental indenture or modifying the rights of the holders of debt securities of that series.
No such supplemental indenture may, however, without the consent of the holder of each debt security that is affected:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change the time for payment of principal or interest on any debt security;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reduce the amount of premium, if any, payable upon the redemption of any debt security;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change any obligation of the company to pay additional amounts;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>impair the right to institute suit for the enforcement of any payment on or for any debt security;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>modify the provisions relating to waiver of some defaults or any of the foregoing provisions;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change the currency of payment;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>adversely affect the right to repayment of debt securities of any series at the option of the holders of those debt securities;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change the place of payment. (Section 902).</TD></TR></TABLE>

<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">Any supplemental indenture will be filed
with the SEC as an exhibit to:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a post-effective amendment to the registration statement of which this prospectus is a part;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an annual report on Form 10-K;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a quarterly report on Form 10-Q; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a current report on Form 8-K.</TD></TR></TABLE>

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

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

<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">When we use the term defeasance, we mean
discharge from some or all of our obligations under the indenture. If we deposit with the trustee sufficient cash or government
obligations to pay the principal, interest, any premium and any mandatory sinking fund or analogous payments due to the stated
maturity or a redemption date of the debt securities of a particular series, then at our option:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we will be discharged from our obligations for the debt securities of that series, the holders of the debt securities of the
affected series will no longer be entitled to the benefits of the indenture, except for registration of transfer and exchange of
debt securities and replacement of lost, stolen or mutilated debt securities, and those holders may look only to the deposited
funds or obligations for payment, which is referred to as &ldquo;defeasance&rdquo;; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we will no longer be under any obligation to comply with certain covenants under the indenture as it relates to that series,
and some events of default will no longer apply to us, which is referred to as &ldquo;covenant defeasance.&rdquo; (Sections 403
and 1501).</TD></TR></TABLE>

<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">Unless the applicable prospectus supplement
specifies otherwise and except as described below, the conditions to both defeasance and covenant defeasance are as follows:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>it must not result in a breach or violation of, or constitute a default or event of default under, the indenture, or result
in a breach or violation of, or constitute a default under, any other of our material agreements or instruments;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain bankruptcy-related defaults or events of default with respect to us must not have occurred and be occurring during
the period commencing on the date of the deposit of the trust funds to defease the debt securities and ending on the 91st day after
that date;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we must deliver to the trustee an officer&rsquo;s certificate and an opinion of counsel addressing compliance with the conditions
of the defeasance or covenant defeasance; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we must comply with any additional conditions to the defeasance or covenant defeasance that the indenture may impose on us.
(Sections 403 and 1501).</TD></TR></TABLE>

<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">In the event that government obligations
deposited with the trustee for the defeasance of such debt securities decrease in value or default subsequent to their being deposited,
we will have no further obligation, and the holders of the debt securities will have no additional recourse against us, for any
decrease in value or default. If indicated in the prospectus supplement, in addition to obligations of the United States or an
agency or instrumentality of the United States, government obligations may include obligations of the government or an agency or
instrumentality of the government issuing the currency in which debt securities of such series are payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">We may exercise our defeasance option for
the debt securities even if we have already exercised our covenant defeasance option. If we exercise our defeasance option, payment
of the debt securities may not be accelerated because of default or an event of default. If we exercise our covenant defeasance
option, payment of the debt securities may not be accelerated because of default or an event of default with respect to the covenants
to which the covenant defeasance is applicable. If, however, acceleration occurs, the realizable value at the acceleration date
of the money and government obligations in the defeasance trust could be less than the principal and interest then due on the debt
securities, because the required deposit in the defeasance trust is based on scheduled cash flow rather than market value, which
will vary depending on interest rates and other factors.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Conversion and Exchange Rights</P>

<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">The debt securities of any series may be
convertible into or exchangeable for other securities of our company or another issuer or property or cash on the terms and subject
to the conditions set forth in the applicable prospectus supplement. (Section 301).</P>

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

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

<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">The indenture and the debt securities will
be governed by, and construed under, the laws of the State of New York without regard to conflicts of laws principles thereof.</P>

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

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

<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">We may from time to time maintain lines
of credit, and have other customary banking relationships, with the trustee under the indenture.</P>

<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">The indenture and provisions of the Trust
Indenture Act that are incorporated by reference therein contain limitations on the rights of the trustee, should it become one
of our creditors, to obtain payment of claims in certain cases or to realize on certain property received by it in respect of any
such claim as security or otherwise. The trustee is permitted to engage in other transactions with us or any of our affiliates;
provided, however, that if it acquires any conflicting interest (as defined under the Trust Indenture Act), it must eliminate such
conflict or resign.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Description
of Capital Stock</P>

<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">Our authorized capital stock consists of
110,000,000 shares of common stock, $.001 par value per share, and 7,954,286 shares of preferred stock, $0.001 par value per share.
As of January 3, 2014, 63,907,357 shares of our common stock were outstanding. As of the date of this prospectus, no shares of
our preferred stock were outstanding.</P>

<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">The description below summarizes the material
terms of our common stock, preferred stock and options and warrants to purchase our common stock and provisions of our certificate
of incorporation and bylaws. This description is only a summary. For more detailed information, you should refer to our certificate
of incorporation and bylaws filed as exhibits to the registration statement of which this prospectus is a part and incorporated
by reference into this prospectus. See &ldquo;Where You Can Find More Information.&rdquo;</P>

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

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

<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">Our common stock is traded on the NYSE MKT
under the symbol &ldquo;WYY.&rdquo; Holders of our common stock are entitled to one vote for each share held on all matters submitted
to a vote of stockholders and do not have cumulative voting rights. Holders of common stock are entitled to receive ratably such
dividends, if any, as may be declared by the board of directors out of funds legally available therefore, subject to a preferential
dividend right of outstanding preferred stock. Upon the liquidation, dissolution or our winding up, the holders of common stock
are entitled to receive ratably our net assets available after the payment of all debts and other liabilities and subject to the
prior rights of any outstanding preferred stock. The rights, preferences and privileges of holders of common stock are subject
to, and may be adversely affected by the rights of the holders any series of preferred stock that we may designate and issue in
the future.</P>

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

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

<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">Under the terms of our certificate of incorporation,
the board of directors is authorized, subject to any limitations prescribed by law, without stockholder approval, to issue such
shares of preferred stock in one or more series. Each such series of preferred stock shall have such rights, preferences, privileges
and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences,
as shall be determined by the board of directors.</P>

<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">The purpose of authorizing the board of
directors to issue preferred stock and determine its rights and preferences is to eliminate delays associated with a stockholder
vote on specific issuances. The issuance of preferred stock, while providing desirable flexibility in connection with possible
acquisitions and other corporate purposes, could have the effect of making it more difficult for a third part to acquire, or of
discouraging a third party from acquiring, a majority of our outstanding voting stock. We have no present plans to issue any additional
shares of preferred stock.</P>

<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">The effects of issuing preferred stock could
include one or more of the following:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>decreasing the amount of earnings and assets available for distribution to holders of common stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>restricting dividends on the common stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>diluting the voting power of the common stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>impairing the liquidation rights of the common stock; or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>delaying, deferring or preventing changes in our control or management.</TD></TR></TABLE>

<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">As of the date of this prospectus, there
were no shares of preferred stock outstanding.</P>

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

<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">As of January 3, 2014, we had outstanding
options to purchase a total of 3,361,500 shares of common stock at a weighted average exercise price of $1.63 per share. Of this
total, options to purchase 1,436,500 were vested and 1,925,000 remain unvested.</P>

<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">As of January 3, 2014, we had outstanding
500,000 shares of restricted common stock subject to vesting conditions.</P>

<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">As of January 3, 2014, an additional 3,216,549
shares of common stock were available for future award grants under our stock incentive plan.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delaware Law and Certain Charter and Bylaw Provisions</P>

<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">We are subject to the provisions of Section
203 of the General Corporation Law of Delaware. Section 203 prohibits a publicly held Delaware corporation from engaging in a &ldquo;business
combination&rdquo; with any interested stockholder for a period of three years after the date of the transaction in which the person
became an interested stockholder, unless the business combination is approved in a prescribed manner. A &ldquo;business combination&rdquo;
includes mergers, asset sales and other transactions resulting in a financial benefit to the interested stockholder. Subject to
certain exceptions, an &ldquo;interested stockholder&rdquo; is (i) a person who, together with affiliates and associates, owns
15% or more of our voting stock or (ii) an affiliate or associate of ours who was the owner, together with affiliates and associates,
of 15% or more of our outstanding voting stock at any time within the 3-year period prior to the date for determining whether such
person is &ldquo;interested.&rdquo;</P>

<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">Our certificate of incorporation also provides
that any action required or permitted to be taken by our stockholders at an annual meeting or special meeting of stockholders may
be taken without such meeting only by the unanimous consent of all stockholders entitled to vote on the particular action. In order
for any matter to be considered properly brought before a meeting, a stockholder must comply with certain requirements regarding
advance notice to us. The foregoing provisions could have the effect of delaying until the next stockholders&rsquo; meeting stockholder
actions, which are favored by the holders of a majority of our outstanding voting securities. These provisions may also discourage
another person or entity from making a tender offer for our common stock, because such person or entity, even if it acquired a
majority of our outstanding voting securities, would be able to take action as a stockholder (such as electing new directors or
approving a merger) only at a duly called stockholders&rsquo; meeting, and not by written consent.</P>

<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">The General Corporation Law of Delaware
provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a
corporation&rsquo;s certificate of incorporation or bylaws, unless a corporation&rsquo;s certificate of incorporation or bylaws,
as the case may be, requires a greater percentage. Our certificate of incorporation and bylaws do not require a greater percentage
vote. Our board of directors is classified into three classes of directors, with approximately one-third of the directors serving
in each such class of directors and with one class of directors being elected at each annual meeting of stockholders to serve for
a term of three years or until their successors are elected and take office. Our bylaws provide that the board of directors will
determine the number of directors to serve on the board. Our board of directors presently consists of six members.</P>

<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">Our certificate of incorporation and bylaws
contain certain provisions permitted under the General Corporation Law of Delaware relating to the liability of directors. The
provisions eliminate, to the fullest extent permitted by the General Corporation Law of Delaware, a director&rsquo;s personal liability
to us or our stockholders with respect to any act or omission in the performance of his or her duties as a director. Our certificate
of incorporation and bylaws also allow us to indemnify our directors, to the fullest extent permitted by the General Corporation
Law of Delaware. Our bylaws also provide that we may grant indemnification to any officer, employee, agent or other individual
as our Board may approve from time to time. We believe that these provisions will assist us in attracting and retaining qualified
individuals to serve as directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">Our respective Employment Agreements with
Steve L. Komar and James T. McCubbin, which each expired on December 31, 2013, provide that we shall indemnify the executive and
hold such executives harmless from and against all claims, losses, damages, expense or liabilities (including expenses of defense
and settlement) based upon or in any way arising from or connected with their employment by us, to the maximum extent permitted
by law. We expect that we will enter into new employment agreements with each of Messrs. Komar and McCubbin that will provide for
similar indemnification obligations.</P>

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

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

<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">Our common stock is listed on the NYSE MKT
under the symbol &ldquo;WYY.&rdquo;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer Agent and Registrar</P>

<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">The transfer agent and registrar for our
common stock is American Stock Transfer &amp; Trust Company.</P>

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


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

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

<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">We may issue other warrants in the future
for the purchase of debt securities, common stock or other securities. Warrants may be issued independently or together with debt
securities or common stock offered by any prospectus supplement and/or other offering material and may be attached to or separate
from any such offered securities. Each series of warrants will be issued under a separate warrant agreement to be entered into
between us and a bank or trust company, as warrant agent, all as will be set forth in the prospectus supplement and/or other offering
material relating to the particular issue of warrants. The warrant agent will act solely as our agent in connection with the warrants
and will not assume any obligation or relationship of agency or trust for or with any holders of warrants or beneficial owners
of warrants.</P>

<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">The following summary of certain provisions
of the warrants we may issue in the future does not purport to be complete and is subject to, and is qualified in its entirety
by reference to, all provisions of the warrant agreements.</P>

<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">Reference is made to the prospectus supplement
and/or other offering material relating to the particular issue of warrants offered pursuant to such prospectus supplement and/or
other offering material for the terms of and information relating to such warrants, including, where applicable:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the designation, aggregate principal amount, currencies, denominations and terms of the series of debt securities purchasable
upon exercise of warrants to purchase debt securities and the price at which such debt securities may be purchased upon such exercise;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the number of shares of common stock purchasable upon the exercise of warrants to purchase common stock and the price at which
such number of shares of common stock may be purchased upon such exercise;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the designation and number of units of other securities purchasable upon the exercise of warrants to purchase other securities
and the price at which such number of units of such other securities may be purchased upon such exercise;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date on which the right to exercise such warrants shall commence and the date on which such right shall expire;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>U.S. federal income tax consequences applicable to such warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the amount of warrants outstanding as of the most recent practicable date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other terms of such warrants.</TD></TR></TABLE>

<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">Warrants will be issued in registered form
only. The exercise price for warrants will be subject to adjustment in accordance with the applicable prospectus supplement and/or
other offering material.</P>

<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">Each warrant will entitle the holder thereof
to purchase such principal amount of debt securities or such number of shares of common stock or other securities at such exercise
price as shall in each case be set forth in, or calculable from, the prospectus supplement and/or other offering material relating
to the warrants, which exercise price may be subject to adjustment upon the occurrence of certain events as set forth in such prospectus
supplement and/or other offering material. After the close of business on the expiration date, or such later date to which such
expiration date may be extended by us, unexercised warrants will become void. The place or places where, and the manner in which,
warrants may be exercised shall be specified in the prospectus supplement and/or other offering material relating to such warrants.</P>

<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">Prior to the exercise of any warrants to
purchase debt securities, common stock or other securities, holders of such warrants will not have any of the rights of holders
of debt securities, common stock or other securities, as the case may be, purchasable upon such exercise, including the right to
receive payments of principal of, premium, if any, or interest, if any, on the debt securities purchasable upon such exercise or
to enforce covenants in the applicable indenture, or to receive payments of dividends, if any, on the common stock purchasable
upon such exercise, or to exercise any applicable right to vote.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Description
of Stock Purchase Contracts and Stock Purchase Units</P>

<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">We may issue stock purchase contracts, including
contracts obligating holders to purchase from us, and obligating us to sell to the holders, a specified number of shares of common
stock or other securities at a future date or dates, which we refer to in this prospectus as &ldquo;stock purchase contracts.&rdquo;
The price per share of the securities and the number of shares of the securities may be fixed at the time the stock purchase contracts
are issued or may be determined by reference to a specific formula set forth in the stock purchase contracts. The stock purchase
contracts may be issued separately or as part of units consisting of a stock purchase contract and debt securities, warrants, other
securities or debt obligations of third parties, including U.S. treasury securities, which we refer to herein as &ldquo;stock purchase
units.&rdquo; The stock purchase contracts may require holders to secure their obligations under the stock purchase contracts in
a specified manner. The stock purchase contracts also may require us to make periodic payments to the holders of the stock purchase
units or vice versa, and those payments may be unsecured or refunded on some basis.</P>

<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">The stock purchase contracts, and, if applicable,
collateral or depositary arrangements, relating to the stock purchase contracts or stock purchase units, will be filed with the
SEC in connection with the offering of stock purchase contracts or stock purchase units. The prospectus supplement and/or other
offering material relating to a particular issue of stock purchase contracts or stock purchase units will describe the terms of
those stock purchase contracts or stock purchase units, including the following:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other information we think is important about the stock purchase contracts or the stock purchase units.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Where You
Can Find More Information</P>

<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">We file annual, quarterly and current reports,
proxy statements and other information with the SEC. We also filed a registration statement on Form S-3, including exhibits, under
the Securities Act of 1933, as amended, or the Securities Act, with respect to the securities offered by this prospectus. This
prospectus is a part of the registration statement, but does not contain all of the information included in the registration statement
or the exhibits. You may read and copy the registration statement and any other document that we file at the SEC&rsquo;s public
reference room at 100 F Street, N.E., Washington D.C. 20549. You can call the SEC at 1-800-SEC-0330 for further information on
the operation of the public reference room. You can also find our public filings with the SEC on the internet at a web site maintained
by the SEC located at <U>http://www.sec.gov</U>.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Incorporation
of Certain Documents by Reference</P>

<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">We are &ldquo;incorporating by reference&rdquo;
specified documents that we file with the SEC, which means:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>incorporated documents are considered part of this prospectus;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we are disclosing important information to you by referring you to those documents; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>information we file with the SEC will automatically update and supersede information contained in this prospectus.</TD></TR></TABLE>

<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">We incorporate by reference the documents
listed below and any future filings we make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (i)&nbsp;after
the date of the registration statement on Form S-3 filed under the Securities Act with respect to securities offered by this prospectus
and prior to the effectiveness of such registration statement and (ii)&nbsp;after the date of this prospectus and before the end
of the offering of the securities pursuant to this prospectus:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Annual Report on Form 10-K for the year ended December 31, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Definitive Proxy Statement on Schedule 14A filed November 1, 2013;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Current Reports on Form 8-K filed August 28, 2013, December 16, 2013 and December 27, 2013; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the description of our common stock contained in or incorporated into our Registration Statement on Form 8-A, filed September
19, 2006, and any amendment or report updating that description.</TD></TR></TABLE>

<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">Information in this prospectus supersedes
related information in the documents listed above, and information in subsequently filed documents supersedes related information
in both this prospectus and the incorporated documents.</P>

<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">We will promptly provide, without charge
to you, upon written or oral request, a copy of any or all of the documents incorporated by reference in this prospectus, other
than exhibits to those documents, unless the exhibits are specifically incorporated by reference in those documents. Requests should
be directed to:</P>

<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-align: center">WidePoint Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">7926 Jones Branch Drive, Suite 520</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">McLean, Virginia 22102</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(703) 349-2577</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-indent: 0.5in">You can also find these filings on our website
at www.widepoint.com. We are not incorporating the information on our website other than these filings into this prospectus.</P>

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

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

<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">We may sell securities in any one or more
of the following ways from time to time: (i) through agents; (ii) to or through underwriters; (iii) through brokers or dealers;
(iv) directly by us to purchasers, including through a specific bidding, auction or other process; or (v) through a combination
of any of these methods of sale. The applicable prospectus supplement and/or other offering material will contain the terms of
the transaction, name or names of any underwriters, dealers, agents and the respective amounts of securities underwritten or purchased
by them, the initial public offering price of the securities, and the applicable agent&rsquo;s commission, dealer&rsquo;s purchase
price or underwriter&rsquo;s discount. Any dealers and agents participating in the distribution of the securities may be deemed
to be underwriters, and compensation received by them on resale of the securities may be deemed to be underwriting discounts.</P>

<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">Any initial offering price, dealer purchase
price, discount or commission may be changed from time to time.</P>

<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">The securities may be distributed from time
to time in one or more transactions, at negotiated prices, at a fixed price or fixed prices (that may be subject to change), at
market prices prevailing at the time of sale, at various prices determined at the time of sale or at prices related to prevailing
market prices.</P>

<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">Offers to purchase securities may be solicited
directly by us or by agents designated by us from time to time. Any such agent may be deemed to be an underwriter, as that term
is defined in the Securities Act of 1933, of the securities so offered and sold.</P>

<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">If underwriters are utilized in the sale
of any securities in respect of which this prospectus is being delivered, such securities will be acquired by the underwriters
for their own account and may be resold from time to time in one or more transactions, including negotiated transactions, at fixed
public offering prices or at varying prices determined by the underwriters at the time of sale. Securities may be offered to the
public either through underwriting syndicates represented by managing underwriters or directly by one or more underwriters. If
any underwriter or underwriters are utilized in the sale of securities, unless otherwise indicated in the applicable prospectus
supplement and/or other offering material, the obligations of the underwriters are subject to certain conditions precedent, and
that the underwriters will be obligated to purchase all such securities if any are purchased.</P>

<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">If a dealer is utilized in the sale of the
securities in respect of which this prospectus is delivered, we will sell such securities to the dealer, as principal. The dealer
may then resell such securities to the public at varying prices to be determined by such dealer at the time of resale. Transactions
through brokers or dealers may include block trades in which brokers or dealers will attempt to sell shares as agent but may position
and resell as principal to facilitate the transaction or in crosses, in which the same broker or dealer acts as agent on both sides
of the trade. Any such dealer may be deemed to be an underwriter, as such term is defined in the Securities Act of 1933, of the
securities so offered and sold.</P>

<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">Offers to purchase securities may be solicited
directly by us and the sale thereof may be made by us directly to institutional investors or others, who may be deemed to be underwriters
within the meaning of the Securities Act of 1933 with respect to any resale thereof.</P>

<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">If so indicated in the applicable prospectus
supplement and/or other offering material, we may authorize agents and underwriters to solicit offers by certain institutions to
purchase securities from us at the public offering price set forth in the applicable prospectus supplement and/or other offering
material pursuant to delayed delivery contracts providing for payment and delivery on the date or dates stated in the applicable
prospectus supplement and/or other offering material. Such delayed delivery contracts will be subject only to those conditions
set forth in the applicable prospectus supplement and/or other offering material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">Agents, underwriters and dealers may be
entitled under relevant agreements with us to indemnification by us against certain liabilities, including liabilities under the
Securities Act of 1933, or to contribution with respect to payments which such agents, underwriters and dealers may be required
to make in respect thereof. The terms and conditions of any indemnification or contribution will be described in the applicable
prospectus supplement and/or other offering material.</P>

<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">We may also sell shares of our common stock
through various arrangements involving mandatorily or optionally exchangeable securities, and this prospectus may be delivered
in connection with those sales.</P>

<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">We may enter into derivative, sale or forward
sale transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated
transactions. If the applicable prospectus supplement and/or other offering material indicates, in connection with those transactions,
the third parties may sell securities covered by this prospectus and the applicable prospectus supplement and/or other offering
material, including in short sale transactions and by issuing securities not covered by this prospectus but convertible into, or
exchangeable for or representing beneficial interests in such securities covered by this prospectus, or the return of which is
derived in whole or in part from the value of such securities. The third parties may use securities received under derivative,
sale or forward sale transactions, or securities pledged by us or borrowed from us or others to settle those sales or to close
out any related open borrowings of stock, and may use securities received from us in settlement of those transactions to close
out any related open borrowings of stock. The third party in such sale transactions will be an underwriter and will be identified
in the applicable prospectus supplement (or a post-effective amendment) and/or other offering material.</P>

<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">Underwriters, broker-dealers or agents may
receive compensation in the form of commissions, discounts or concessions from us. Underwriters, broker-dealers or agents may also
receive compensation from the purchasers of shares for whom they act as agents or to whom they sell as principals, or both. Compensation
as to a particular underwriter, broker-dealer or agent might be in excess of customary commissions and will be in amounts to be
negotiated in connection with transactions involving shares. In effecting sales, broker-dealers engaged by us may arrange for other
broker-dealers to participate in the resales.</P>

<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">Each series of securities will be a new
issue and, other than the common stock, which is listed on the New York Stock Exchange MKT, will have no established trading market.
We may elect to list any series of securities on an exchange, and in the case of the common stock, on any additional exchange,
but, unless otherwise specified in the applicable prospectus supplement and/or other offering material, we shall not be obligated
to do so. No assurance can be given as to the liquidity of the trading market for any of the securities.</P>

<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">Agents, underwriters and dealers may engage
in transactions with, or perform services for us and our respective subsidiaries in the ordinary course of business.</P>

<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">Any underwriter may engage in overallotment,
stabilizing transactions, short covering transactions and penalty bids in accordance with Regulation M under the Securities Exchange
Act of 1934. Overallotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions
permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum. Short covering
transactions involve purchases of the securities in the open market after the distribution is completed to cover short positions.
Penalty bids permit the underwriters to reclaim a selling concession from a dealer when the securities originally sold by the dealer
are purchased in a covering transaction to cover short positions. Those activities may cause the price of the securities to be
higher than it would otherwise be. If commenced, the underwriters may discontinue any of the activities at any time. An underwriter
may carry out these transactions on the New York Stock Exchange MKT, in the over-the-counter market or otherwise.</P>

<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">The place and time of delivery for securities
will be set forth in the accompanying prospectus supplement and/or other offering material for such securities.</P>

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


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

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

<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">The validity of the securities offered by
this prospectus will be passed upon for us by Foley &amp; Lardner LLP. The validity of the securities offered by this prospectus
will be passed upon for any underwriters or agents by counsel named in the applicable prospectus supplement.</P>

<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-align: center"><B>EXPERTS</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-indent: 0.5in">The consolidated financial statements of
WidePoint Corporation as of December 31, 2012 and 2011, and for the years then ended, have been incorporated by reference herein
in reliance upon the report of Moss Adams LLP, independent registered public accounting firm, incorporated by reference herein,
and upon the authority of said firm as experts in accounting and auditing. To the extent that Moss Adams LLP audits and reports
on consolidated financial statements of WidePoint Corporation at future dates and consents to the use of their reports thereon,
such consolidated financial statements also will be incorporated by reference in the registration statement in reliance upon their
reports and said authority.</P>

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


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 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: 1in; text-align: left">Item 14.</TD><TD STYLE="text-align: justify">Other Expenses of Issuance and Distribution.</TD>
</TR></TABLE>

<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">The aggregate estimated expenses, other
than underwriting discounts and commissions, in connection with the sale of the securities being registered hereby are currently
anticipated to be as follows (all amounts are estimated except the Securities and Exchange Commission registration fee). All expenses
of the offering will be paid by WidePoint Corporation.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="color: #000033; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: #000033; font-weight: bold; text-align: center">Amount</TD><TD STYLE="color: #000033; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%; text-align: left">Securities and Exchange Commission registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">3,220</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">57,000</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">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Miscellaneous Expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,780</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: #000033; padding-left: 9pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">70,000</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 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: 1in; text-align: left">Item 15.</TD><TD STYLE="text-align: justify">Indemnification of Directors and Officers.</TD>
</TR></TABLE>

<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">Section 102 of the Delaware General Corporation
Law allows a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders
for monetary damages for a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed
to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved
a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit. The registrant has included
such a provision in its Amended and Restated Certificate of Incorporation.</P>

<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">Section 145 of the General Corporation Law
of Delaware provides that a corporation has the power to indemnify a director, officer, employee or agent of the corporation and
certain other persons serving at the request of the corporation in related capacities against amounts paid and expenses incurred
in connection with an action or proceeding to which he is or is threatened to be made a party by reason of such position, if such
person shall have acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
corporation, and, in any criminal proceeding, if such person had no reasonable cause to believe his conduct was unlawful; provided
that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any
matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the
adjudicating court determines that such indemnification is proper under the circumstances.</P>

<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">Article VII of the registrant&rsquo;s Amended
and Restated Certificate of Incorporation provides to the full extent permitted by the General Corporation Law of Delaware or any
of the applicable laws presently or hereafter in effect, no director of the registrant will be personally liable to the registrant
or the registrant&rsquo;s stockholders with respect to any act or omission in the performance of his or her duties as a director
of the registrant. Any amendment or repeal of Article VII of the registrant&rsquo;s Amended and Restated Certificate of Incorporation
will not adversely affect any right or protection of a director of the registrant with respect to any act or omission occurring
before such amendment or repeal.</P>

<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">Article VIII of the registrant&rsquo;s Amended
and Restated Certificate of Incorporation and Article VI of the Bylaws provide that the registrant shall indemnify (a) any person
who was or is a party or is threatened to be made a party to any threatened, pending or completed proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the registrant), by reason of the fact that he is or
was, a director of the registrant, or is or was serving, or has agreed to serve, at the request of the registrant, as a director,
officer, employee or agent of another entity (all such persons being referred to hereafter as an &ldquo;Indemnitee&rdquo;), to
the full extent then permitted by law against judgments, fines, penalties, excise taxes, amounts paid in settlement and costs charges
and expenses (including attorneys&rsquo; fees and disbursements) that he or she incurs in connection with such proceeding. The
right to indemnification will continue as to an Indemnitee who has ceased to hold the position by virtue of which he or she was
entitled to indemnification, and will inure to the benefit of his or her heirs and personal representatives. The registrant will,
from time to time, reimburse or advance to any Indemnitee the funds necessary for payment of expenses, including attorneys&rsquo;
fees and disbursements, incurred in connection with defending any proceeding for which he or she is indemnified by the registrant,
in advance of the final disposition of such proceeding; provided that, if then required by law, the expenses incurred by or on
behalf of an Indemnitee may be paid in advance of the final disposition of a proceeding only upon receipt by the registrant of
an undertaking by or on behalf of such director or officer to repay any such amount so advanced if it is ultimately determined
by a final and unappealable judicial decision that the Indemnitee is not entitled to be indemnified for such expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">The registrant&rsquo;s Bylaws also provide
that the registrant may grant indemnification to any officer, employee, agent or other individual as our Board may approve from
time to time.</P>

<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">The registrant has purchased directors&rsquo;
and officers&rsquo; liability insurance that would indemnify its directors and officers against damages arising out of certain
kinds of claims that might be made against them based on their negligent acts or omissions while acting in their capacity as such.</P>

<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">The registrant&rsquo;s respective Employment
Agreements with Steve L. Komar and James T. McCubbin, which expired on December 31, 2013, provide that we shall indemnify the executive
and hold such executives harmless from and against all claims, losses, damages, expense or liabilities (including expenses of defense
and settlement) based upon or in any way arising from or connected with their employment by the registrant, to the maximum extent
permitted by law. The registrant expects to enter into new employment agreements with each of Messrs. Komar and McCubbin that will
provide for similar indemnification obligations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 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: 1in; text-align: left">Item 16.</TD><TD STYLE="text-align: justify">Exhibits and Financial Statement Schedules.</TD>
</TR></TABLE>

<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">The exhibits listed in the accompanying
Exhibit Index are filed or incorporated by reference as part of this Registration Statement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 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: 1in; text-align: left">Item 17.</TD><TD STYLE="text-align: justify">Undertakings.</TD>
</TR></TABLE>

<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">The undersigned Registrant hereby undertakes:</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;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission
(the &ldquo;Commission&rdquo;) pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table
in the effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>provided, however</I>, that paragraphs (i),
(ii) and (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus
filed pursuant to Rule 424(b) that is part of the registration statement.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof.</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">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</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">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>If the Registrant is relying on Rule 430B:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(A)</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each prospectus filed by the Registrant pursuant to Rule 424(b)(3)
shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in
the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(B)</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each prospectus required to be filed pursuant to Rule 424(b)(2),
(b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i),
(vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed
to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after
effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided
in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed
to be a new effective date of the registration statement relating to the securities in the registration statement to which the
prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
<I>Provided, however</I>, that no statement made in a registration statement or prospectus that is part of the registration statement
or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part
of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or
modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made
in any such document immediately prior to such effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating
to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A,
shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. <I>Provided,
however</I>, that no statement made in a registration statement or prospectus that is part of the registration statement or made
in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the
registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any
statement that was made in the registration statement or prospectus that was part of the registration statement or made in any
such document immediately prior to such date of first use.</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">(6) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant
pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if
the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant
will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</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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    <!-- Field: /Page -->

<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 1in; text-indent: 0.5in">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule
424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to
by the undersigned Registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(iii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant
or its securities provided by or on behalf of the undersigned Registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(iv) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.</P>

<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">The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act of 1933, each filing of its annual report pursuant to
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<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">Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant
to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the issue has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by
the final adjudication of such issue.</P>

<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">The undersigned Registrant hereby undertakes
to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310
of the Trust Indenture Act in accordance with the rules and regulations prescribed by the Commission under Section 305(b)(2) of
the Trust Indenture Act.</P>

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


<!-- Field: Page; Sequence: 40; 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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

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

<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"> Pursuant to the requirements of the
Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-3 and has duly caused this Amendment No. 1 to the Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of McLean, Commonwealth of Virginia, on this 31st day of January, 2014. </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">WIDEPOINT CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steve L. Komar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Steve L. Komar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, this Amendment No. 1 to the Registration Statement has been signed by the following persons in the capacities
indicated below on January 31, 2014. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 48%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B> Signature </B></FONT></TD>
    <TD STYLE="width: 4%; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B> Title </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> &nbsp; </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ Steve L. Komar </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Chief Executive Officer and Director (Principal </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> Steve L. Komar </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Executive Officer) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ James T. McCubbin </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Director, Executive Vice President and Chief Financial </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> James T. McCubbin </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Officer (Principal Financial and Accounting Officer) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ James M. Ritter* </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> James M. Ritter </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ Morton S. Taubman </FONT> * </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> Morton S. Taubman </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ Otto Guenther </FONT> * </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> Otto Guenther </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ George Norwood </FONT> * </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> George Norwood </FONT></TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; text-transform: uppercase"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 48%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"> *By:&nbsp; </TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"> /s/ James T. McCubbin </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> James T. McCubbin </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> Attorney-in-Fact </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; text-transform: uppercase"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 41; 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"><FONT STYLE="font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal; text-transform: uppercase">EXHIBIT
INDEX</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 10%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Exhibit</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number</P></TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 1%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 89%; border-bottom: Black 1pt solid; text-align: center">Document Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">(1)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Form of Underwriting Agreement.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">(4.1)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Amended and Restated Certificate of Incorporation of WidePoint Corporation.&nbsp;&nbsp;(Incorporated herein by reference to Exhibit A to the Registrant&rsquo;s Definitive Proxy Statement, as filed on December&nbsp;27, 2004.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">(4.2)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Bylaws of WidePoint Corporation (formerly ZMAX Corporation) (Incorporated herein by reference to Exhibit 3.6 to the Registrant&rsquo;s Registration Statement on Form S-4 (File No. 333-29833).)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.3) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Indenture (previously filed). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.4) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Debt Securities. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.5) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Warrant and Warrant Agreement for Debt Securities. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.6) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Warrant and Warrant Agreement for Preferred Stock. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.7) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Warrant and Warrant Agreement for Common Stock. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.8) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Stock Purchase Contract. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (4.9) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Form of Stock Purchase Unit (included in the Form of Stock Purchase Contract filed as Exhibit 4.8). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (5) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Opinion of Foley &amp; Lardner LLP (including consent of counsel) (previously filed). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (23.1) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Consent of Foley &amp; Lardner LLP (filed as part of Exhibit (5)) (previously filed). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">(23.2)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Consent of Moss Adams LLP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"> (24) </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> Powers of Attorney (included on the signature page to the Registration Statement) (previously filed). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt">(25)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939.**</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 15%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 0.5in"> * </TD><TD> If required, to be filed by amendment or under subsequent Current
                                         Report on Form 8-K. </TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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: 0.5in">**</TD><TD>To be filed in accordance with the requirements of Section&nbsp;305(b)(2) of the Trust Indenture Act of 1939 and Rule&nbsp;5b-3
thereunder.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Documents incorporated by reference to filings made by
WidePoint Corporation under the Securities Exchange Act of 1934 are under SEC File No. 001-33035.</P>

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



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

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`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>3
<FILENAME>v366522_ex4-4.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<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 4.4</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>WIDEPOINT CORPORATION</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>[ ] % Notes Due 20[ ]</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 49%">No. [ ]</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 49%">CUSIP No.: [ ]</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">ISIN No.: [ ]</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$[ ]</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">WIDEPOINT CORPORATION, a Delaware corporation (the &ldquo;<B>Issuer</B>&rdquo;,
which term includes any successor entity), for value received promises to pay to __________ or registered assigns, the principal
sum of $[ ] ([ ]Dollars) on [ ].</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interest Payment Dates: [ ] and [ ] (each, an &ldquo;<B>Interest
Payment Date</B>&rdquo;), commencing on [ ].</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interest Record Dates: [ ] and [ ] (each, an &ldquo;<B>Interest
Record Date</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to the further provisions of this Security
contained herein, which will for all purposes have the same effect as if set forth at this place.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the Issuer has caused this Security to be
signed manually or by facsimile by its duly authorized officer under its corporate seal.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>WIDEPOINT CORPORATION</B></TD></TR>
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Title:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD></TR>
</TABLE><BR STYLE="clear: both">

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Attest:</TD></TR>
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Title:</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">This is one of the series designated herein and referred to
in the within-mentioned 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">Dated: [ ]</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">_____________________, as Trustee</TD></TR>
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.125in">Authorized Signatory</TD></TR>
</TABLE><BR STYLE="clear: both">
<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: left; 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; text-align: center">(REVERSE OF SECURITY)</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>WIDEPOINT CORPORATION</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>[ ]% Senior Notes Due [ ]</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">1.</TD>
    <TD STYLE="vertical-align: top">Interest.</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">WIDEPOINT CORPORATION, a Delaware corporation (the &ldquo;<B>Issuer</B>&rdquo;,
which term includes any successor entity), promises to pay interest on the principal amount of this Security at the rate per annum
set forth above. Interest on this Security will accrue from the most recent date to which interest has been paid or duly provided
for or, if no interest has been paid or duly provided for, from [ ]. The Issuer will pay interest semiannually in arrears on each
Interest Payment Date, commencing [ ] to the Persons in whose names the Securities are registered at the close of business on the
preceding Interest Record Date (whether or not a Business Day). Interest will be computed on the basis of a 360-day year consisting
of twelve 30-day months and, for partial months, on the basis of actual days elapsed in a 30-day month.</P>

<P STYLE="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 Issuer shall pay interest on overdue principal from time
to time on demand at the rate borne by the Securities and on overdue installments of interest (without regard to any applicable
grace periods) to the extent lawful.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">2.</TD>
    <TD STYLE="vertical-align: top">Method of Payment.</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">The Issuer shall pay interest on the Securities (except defaulted
interest) to the persons who are the registered Holders at the close of business on the Interest Record Date immediately preceding
the Interest Payment Date notwithstanding any transfer or exchange of such Securities subsequent to such Interest Record Date and
prior to such Interest Payment Date. Holders must surrender Securities to [________________] (the &ldquo;<B>Trustee</B>&rdquo;)
to collect principal payments. The Issuer shall pay principal and interest in money of the United States that at the time of payment
is legal tender for payment of public and private debts (&ldquo;<B>U.S. Legal Tender</B>&rdquo;). However, the payments of interest,
and any portion of the principal (other than interest payable at maturity or on any redemption or repayment date or the final payment
of principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New
York City time (or such other time as may be agreed to between the Issuer and the Paying Agent or the Issuer), directly to a Holder
(by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to
such payment date requesting that such payment will be so made and designating the bank account to which such payments shall be
so made and in the case of payments of principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating
the same principal amount as the unredeemed principal amount of the Securities surrendered.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">3.</TD>
    <TD STYLE="vertical-align: top">Paying Agent.</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">Initially, the Trustee will act as Paying Agent. The Issuer
may change any Paying Agent without notice to the Holders.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">4.</TD>
    <TD STYLE="vertical-align: top">Indenture.</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">The Issuer issued the Securities under an Indenture dated as
of [______________], 20[___] (the &ldquo;<B>Indenture</B>&rdquo;) by and among the Issuer, the Guarantors party thereto and the
Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities
include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15
U.S.C. Sections 77aaa-77bbbb) (the &ldquo;<B>TIA</B>&rdquo;), to the extent set forth in the Indenture. Notwithstanding anything
to the contrary herein, the Securities are subject to all such terms, and Holders of Securities are referred to the Indenture and
the TIA for a statement of them. To the extent the terms of the Indenture and this Security are inconsistent, the terms of the
Indenture shall govern.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">5.</TD>
    <TD STYLE="vertical-align: top">Guarantees.</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">Each of [________________] (the &ldquo;<B>Guarantors</B>&rdquo;),
has irrevocably, fully and unconditionally guaranteed, on an unsecured basis, the full and punctual payment (whether at maturity,
upon redemption or otherwise) of the principal of and interest on, and all other amounts payable under, the Securities, and the
full and punctual payment of all other amounts payable by the Issuer under the Indenture, subject to certain terms and conditions
set forth in the Indenture.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">6.</TD>
    <TD STYLE="vertical-align: top">Denominations; Transfer; Exchange.</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">The Securities are in registered form, without coupons, in denominations
of $[ ] and multiples of $[ ] in excess thereof. A Holder shall register the transfer or exchange of Securities in accordance with
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">The Issuer may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection
therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer or exchange of any Securities
or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register
the transfer or exchange of any Security selected for redemption in whole or in part.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">7.</TD>
    <TD STYLE="vertical-align: top">Persons Deemed Owners.</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">The registered Holder of a Security shall be treated as the
owner of it for all purposes.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">8.</TD>
    <TD STYLE="vertical-align: top">Unclaimed Funds.</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">If funds for the payment of principal or interest remain unclaimed
for two years, the Trustee and the Paying Agent will repay the funds to the Issuer at its written request. After that, all liability
of the Trustee and such Paying Agent with respect to such funds shall cease.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">9.</TD>
    <TD STYLE="vertical-align: top">Legal Defeasance and Covenant Defeasance.</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">The Issuer and the Guarantors may be discharged from their respective
obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions thereof,
and may be discharged from obligations to comply with certain covenants contained in the Securities and in the Indenture with respect
to the Securities, in each case upon satisfaction of certain conditions specified in the Indenture.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">10.</TD>
    <TD STYLE="vertical-align: top">Information.</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">The Issuer will furnish to the Trustee any document or report
the Issuer is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act within 15 days after
such document or report is filed with the Commission; provided that in each case the delivery of materials to the Trustee by electronic
means or filing documents pursuant to the Commission&rsquo;s &ldquo;EDGAR&rdquo; system (or any successor electronic filing system)
shall be deemed to constitute &ldquo;filing&rdquo; with the Trustee for purposes of this Section 10. Delivery of the reports, information
and documents required by this section to be delivered to the Trustee is for informational purposes only and the Trustee&rsquo;s
receipt of such shall not constitute constructive notice of any information contained therein or determinable from information
contained therein.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">11.</TD>
    <TD STYLE="vertical-align: top">Amendment; Supplement; Waiver.</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">Subject to certain exceptions, the Securities and the provisions
of the Indenture relating to the Securities may be amended or supplemented with the written consent of the Holders of at least
a majority in aggregate principal amount of the Securities then outstanding, and any existing Default or Event of Default or compliance
with certain provisions may be waived with the consent of the Holders of a majority in aggregate principal amount of the Securities
then outstanding. Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the
Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition
to or in place of certificated Securities or comply with any requirements of the Commission in connection with the qualification
of the Indenture under the TIA, or make any other change that does not adversely affect the rights of any Holder of a Security
in any material respect.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">12.</TD>
    <TD STYLE="vertical-align: top">Restrictive Covenants.</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">The Indenture contains certain covenants that, among other things,
limit the ability of the Issuer and the Guarantors to incur liens securing indebtedness, or to enter into sale and leaseback transactions,
and of the Issuer to merge or sell all or substantially all of its assets. The limitations are subject to a number of important
qualifications and exceptions. The Issuer must annually report to the Trustee on compliance with such limitations.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">13.</TD>
    <TD STYLE="vertical-align: top">Redemption.</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">The Issuer may at its option redeem any of the Securities in
whole or in part, at any time or from time to time, prior to their maturity, on at least 30 days, but not more than 60 days, prior
notice mailed to the registered address of each Holder of Securities to be redeemed such date (the &ldquo;<B>Redemption Date</B>&rdquo;),
at a redemption price, calculated by the Issuer, equal to the greater of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i) 100% of the principal amount of the Securities to be redeemed;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ii) the sum of the present values of the remaining scheduled
payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption
Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at
the Treasury Rate (as defined below) plus 20 basis points, plus, in each case, accrued interest thereon to the Redemption Date.</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">Notwithstanding the foregoing, installments of interest on Securities
that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment
Date to the registered Holders as of the close of business on the relevant record date according to the Securities and 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">&ldquo;<B>Comparable Treasury Issue</B>&rdquo; means the United
States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining
term of such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Comparable Treasury Price</B>&rdquo; means, with respect
to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations or (ii) if the Independent Investment Banker obtains fewer than three
such Reference Treasury Dealer Quotations, the average of all such quotations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Independent Investment Banker</B>&rdquo; means one
of the Reference Treasury Dealers appointed by the Issuer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Reference Treasury Dealer</B>&rdquo; means each of
(i) [ ] or their affiliates which are primary U.S. government securities dealers (a &ldquo;Primary Treasury Dealer&rdquo;), and
their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities
dealer, the Issuer will substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected
by the Issuer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Reference Treasury Dealer Quotation</B>&rdquo; means,
with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment
Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m. New York time on the third Business
Day preceding such Redemption Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B>Treasury Rate</B>&rdquo; means, with respect to any
Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis)
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless the Issuer defaults in payment of the redemption price,
on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. If
less than all of the Securities are to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method
as the Trustee shall deem fair and appropriate, provided that Securities held in global form will be selected in accordance with
the procedures of DTC.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">14.</TD>
    <TD STYLE="vertical-align: top">Defaults and Remedies.</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">If an Event of Default (other than certain bankruptcy Events
of Default with respect to the Issuer or any Guarantor) occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of Securities then outstanding may declare all of the Securities to be due and payable immediately in
the manner and with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer or any Guarantor
occurs and is continuing, all the Securities shall be immediately due and payable immediately in the manner and with the effect
provided in the Indenture without any notice or other action on the part of the Trustee or any Holder. Holders of Securities may
not enforce the Indenture, the Securities or the Guarantees except as provided in the Indenture. The Trustee is not obligated to
enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits,
subject to certain limitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding
to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Securities notice of certain
continuing Defaults or Events of Default if it determines in good faith that withholding notice is in their interest.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">15.</TD>
    <TD STYLE="vertical-align: top">Trustee Dealings with Issuer.</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">The Trustee under the Indenture, in its individual or any other
capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as if it were not the Trustee.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">16.</TD>
    <TD STYLE="vertical-align: top">No Recourse Against Others.</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">No stockholder, director, officer, employee or incorporator,
as such, of the Issuer, any Guarantor or any successor Person thereof shall have any liability for any obligation under the Securities,
the Guarantees or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each
Holder of a Security by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration
for the issuance of the Securities.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">17.</TD>
    <TD STYLE="vertical-align: top">Authentication.</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">This Security shall not be valid until the Trustee manually
signs the certificate of authentication on this Security.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">18.</TD>
    <TD STYLE="vertical-align: top">Abbreviations and Defined Terms.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">19.</TD>
    <TD STYLE="vertical-align: top">CUSIP Numbers.</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">To the extent that the Issuer has caused CUSIP numbers to be
printed on the Securities, no representation is made as to the accuracy of such numbers as printed on the Securities and reliance
may be placed only on the other identification numbers printed hereon.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">20.</TD>
    <TD STYLE="vertical-align: top">Governing Law.</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">The laws of the State of New York shall govern the Indenture,
this Security and the Guarantees.</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">ASSIGNMENT FORM</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I or we assign and transfer this Security to</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Print or type name, address and zip code of assignee or transferee)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Insert Social Security or other identifying number of assignee
or transferee)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and irrevocably appoint<U> </U>agent to transfer this Security
on the books of the Issuer. The agent may substitute another to act for him.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Dated:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Signed:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Signed exactly as name appears</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">on the other side of this Security)</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 68%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Signature Guarantee:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</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>

<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
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">The initial principal amount of this Global Security is $[ ].
The following increases or decreases in this Global Security have been made:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 28%; border-bottom: Black 1pt solid">Date of Exchange or<BR>
Transfer</TD>
    <TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid">Amount of<BR>
decrease in<BR>
Principal<BR>
amount<BR>
of this Global<BR>
Security</TD>
    <TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid">Amount of<BR>
increase in<BR>
Principal<BR>
amount<BR>
of this Global<BR>
Security</TD>
    <TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid">Principal<BR>
amount<BR>
of this Global<BR>
Security<BR>
following such<BR>
decrease or<BR>
increase</TD>
    <TD NOWRAP STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid">Signature of<BR>
authorized<BR>
officer<BR>
of Trustee or<BR>
Custodian</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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<TYPE>EX-4.5
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<FILENAME>v366522_ex4-5.htm
<DESCRIPTION>EXHIBIT 4.5
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.5</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>WidePoint Corporation</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; font-variant: small-caps"><B>and</B></FONT><B>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>, A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">s</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">gent</FONT>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>F<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">orm</FONT>
O<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">f</FONT> D<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ebt</FONT>
S<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ecurities</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT>
A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">greement</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>D<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ated</FONT>
A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">s</FONT> O<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">f</FONT>
</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">his</FONT>
D<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ebt</FONT> S<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ecurities</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">greement</FONT>
</B>(this &ldquo;<B><I>Agreement</I></B>&rdquo;), dated as of [&bull;], between <B>WidePoint Corporatio</B>n, a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;) and [&bull;], a [corporation] [national banking association] organized and existing under
the laws of [&bull;] and having a corporate trust office in [&bull;], as warrant agent (the &ldquo;<B><I>Warrant Agent</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT></B>,
the Company has entered into an indenture dated as of [[&bull;] (the &ldquo;<B><I>Senior Indenture</I></B>&rdquo;), with [&bull;],
as trustee (such trustee, and any successors to such trustee, herein called the &ldquo;<B><I>Senior Trustee</I></B>&rdquo;), providing
for the issuance from time to time of its unsubordinated debt securities, to be issued in one or more series as provided in the
Senior Indenture (the &ldquo;<B><I>Debt Securities</I></B>&rdquo;);] [[&bull;] (the &ldquo;<B><I>Subordinated Indenture</I></B>&rdquo;),
with [&bull;], as trustee (such trustee, and any successors to such trustee, herein called the &ldquo;<B><I>Subordinated Trustee</I></B>&rdquo;),
providing for the issuance from time to time of its subordinated debt securities, to be issued in one or more series as provided
in the Subordinated Indenture (the &ldquo;<B><I>Debt Securities</I></B>&rdquo;);]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT></B>,
the Company proposes to sell [<B><I>If Warrants are sold with other securities &mdash; </I></B>title of such other securities being
offered] (the &ldquo;<B><I>Other Securities</I></B>&rdquo;) with] warrant certificates evidencing one or more warrants (the &ldquo;<B><I>Warrants</I></B>&rdquo;
or, individually, a &ldquo;<B><I>Warrant</I></B>&rdquo;) representing the right to purchase [title of Debt Securities purchasable
through exercise of Warrants] (the &ldquo;<B><I>Warrant Debt Securities</I></B>&rdquo;), such warrant certificates and other warrant
certificates issued pursuant to this Agreement being herein called the &ldquo;<B><I>Warrant Certificates</I></B>&rdquo;; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT></B>,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection
with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement
wishes to set forth, among other things, the form and provisions of the Warrant Certificates and the terms and conditions on which
they may be issued, registered, transferred, exchanged, exercised and replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>N<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ow</FONT>
T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">herefore</FONT></B>, in consideration of the
premises and of the mutual agreements herein contained, the parties hereto agree as follows:</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>ARTICLE 1 </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.1 Issuance Of Warrants.</B> [<B><I>If
Warrants alone</I></B> &mdash; Upon issuance, each Warrant Certificate shall evidence one or more Warrants.] [<B><I>If Other Securities
and Warrants</I></B> &mdash; Warrant Certificates will be issued in connection with the issuance of the Other Securities but shall
be separately transferable and each Warrant Certificate shall evidence one or more Warrants.] Each Warrant evidenced thereby shall
represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Debt Security. [<B><I>If Other
Securities and Warrants</I></B> &mdash; Warrant Certificates will be issued with the Other Securities and each Warrant Certificate
will evidence [&bull;] Warrants for each [$[&bull;] principal amount] [[&bull;] shares] of Other Securities issued.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.2 Execution And Delivery Of Warrant
Certificates.</B> Each Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in
<B>Exhibit A</B> hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers,
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the
officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are
not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation
made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform
to usage. The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive officers,
presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers,
controllers, assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures
may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates.
The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced
on the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">No Warrant Certificate shall be valid for
any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate has been countersigned by the
manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company
shall be conclusive evidence that the Warrant Certificate so countersigned has been duly issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In case any officer of the Company who
shall have signed any of the Warrant Certificates either manually or by facsimile signature shall cease to be such officer before
the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates
may be countersigned and delivered notwithstanding that the person who signed such Warrant Certificates ceased to be such officer
of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the
execution of such Warrant Certificate, shall be the proper officers of the Company, although at the date of the execution of this
Agreement any such person was not such officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;holder&rdquo; or &ldquo;holder
of a Warrant Certificate&rdquo; as used herein shall mean any person in whose name at the time any Warrant Certificate shall be
registered upon the books to be maintained by the Warrant Agent for that purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.3 Issuance Of Warrant Certificates.</B>
Warrant Certificates evidencing the right to purchase Warrant Debt Securities may be executed by the Company and delivered to the
Warrant Agent upon the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt
of Warrant Certificates duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant
Certificates to or upon the order of the Company.</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>ARTICLE 2 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.1 Warrant Price.</B> During the period
specified in Section 2.2, each Warrant shall, subject to the terms of this Warrant Agreement and the applicable Warrant Certificate,
entitle the holder thereof, to purchase the principal amount of Warrant Debt Securities specified in the applicable Warrant Certificate
at an exercise price of [&bull;]% of the principal amount thereof [plus accrued amortization, if any, of the original issue discount
of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which interest shall have been paid
on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their initial
issuance.] [The original issue discount ($[&bull;] for each $1,000 principal amount of Warrant Debt Securities) will be amortized
at a [&bull;]% annual rate, computed on a[n] [semi-] annual basis [using a 360-day year consisting of twelve 30-day months].] Such
purchase price for the Warrant Debt Securities is referred to in this Agreement as the &ldquo;<B><I>Warrant Price.</I></B>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.2 Duration Of Warrants.</B> Each Warrant
may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof] [&bull;] and at or before
[&bull;] p.m., [City] time, on [&bull;] or such later date as the Company may designate by notice to the Warrant Agent and the
holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the &ldquo;<B><I>Expiration
Date</I></B>&rdquo;). Each Warrant not exercised at or before [&bull;] p.m., [City] time, on the Expiration Date shall become void,
and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.3 Exercise Of Warrants. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>During the period specified
in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Debt Securities in registered form by providing
certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer
in immediately available funds] the Warrant Price for each Warrant Debt Security with respect to which a Warrant is being exercised
to the Warrant Agent at its corporate trust office, provided that such exercise is subject to receipt within five business days
of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Debt Securities set
forth on the reverse side of the Warrant Certificate properly completed and duly executed. The date on which payment in full of
the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed
to be the date on which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates
and payment in full of the Warrant Price, the transfer books for the Warrant Debt Securities purchasable upon the exercise of such
Warrants shall be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective
to constitute the person so designated to be named as the holder of record of such Warrant Debt Securities on such date, but shall
be effective to constitute such person as the holder of record of such Warrant Debt Securities for all purposes at the opening
of business on the next succeeding day on which the transfer books for the Warrant Debt Securities purchasable upon the exercise
of such Warrants shall be opened, and the certificates for the Warrant Debt Securities in respect of which such Warrants are then
exercised shall be issuable as of the date on such next succeeding day on which the transfer books shall next be opened, and until
such date the Company shall be under no duty to deliver any certificate for such Warrant Debt Securities. The Warrant Agent shall
deposit all funds received by it in payment of the Warrant Price in an account of the Company maintained with it and shall advise
the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited
to its account. The Warrant Agent shall promptly confirm such telephone advice to the Company in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent shall, from
time to time, as promptly as practicable, advise the Company of (i) the number of Warrant Debt Securities with respect to which
Warrants were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect
to delivery of the Warrant Debt Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates
evidencing the balance, if any, of the Warrants for the remaining Warrant Debt Securities after such exercise, and (iv) such other
information as the Company or the [Senior] [Subordinated] Trustee shall reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>As soon as practicable after
the exercise of any Warrant, the Company shall issue, pursuant to the Indenture, in authorized denominations, to or upon the order
of the holder of the Warrant Certificate evidencing such Warrant, the Warrant Debt Securities to which such holder is entitled,
in fully registered form, registered in such name or names as may be directed by such holder. If fewer than all of the Warrants
evidenced by such Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent
shall manually countersign and deliver, a new Warrant Certificate evidencing Warrants for the number of Warrant Debt Securities
remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>The Company shall not be required
to pay any stamp or other tax or other governmental charge required to be paid in connection with any transfer involved in the
issue of the Warrant Debt Securities, and in the event that any such transfer is involved, the Company shall not be required to
issue or deliver any Warrant Debt Securities until such tax or other charge shall have been paid or it has been established to
the Company&rsquo;s satisfaction that no such tax or other charge is due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Prior to the issuance of any
Warrants there shall have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its
authorized but unissued Warrant Debt Securities, a number of shares sufficient to provide for the exercise of the Warrants.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER PROVISIONS RELATING TO RIGHTS OF
HOLDERS OF </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.1 No Rights As Holders of Warrant
Debt Securities Conferred By Warrants or Warrant Certificates.</B> No Warrant Certificate or Warrant evidenced thereby shall entitle
the holder thereof to any of the rights of a holder of Warrant Debt Securities, including, without limitation, the right to receive
the payment of principal of (or premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants
in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.2 Lost, Stolen, Mutilated Or Destroyed
Warrant Certificates.</B> Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership
of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant
Agent and the Company and, in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent
for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired
by a bona fide purchaser, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign
and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate
of the same tenor and evidencing Warrants for a like principal amount of Warrant Debt Securities. Upon the issuance of any new
Warrant Certificate under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in
connection therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any lost,
stolen or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the
lost, stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be entitled to the benefits
of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder.
The provisions of this Section 3.2 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect
to the replacement of mutilated, lost, stolen or destroyed Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.3 Holder Of Warrant Certificate May
Enforce Rights.</B> Notwithstanding any of the provisions of this Agreement, any holder of a Warrant Certificate, without the consent
of the Warrant Agent, the [Senior] [Subordinated] Trustee, the holder of any Warrant Debt Securities or the holder of any other
Warrant Certificate, may, in such holder&rsquo;s own behalf and for such holder&rsquo;s own benefit, enforce and may institute
and maintain any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such holder&rsquo;s
right to exercise the Warrants evidenced by such holder&rsquo;s Warrant Certificate in the manner provided in such holder&rsquo;s
Warrant Certificates and in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.4 Merger, Sale, Conveyance or Lease.</B>
In case of (a) any share exchange, merger or similar transaction of the Company with or into another person or entity (other than
a share exchange, merger or similar transaction in which the Company is the acquiring or surviving corporation) or (b) the sale,
exchange, lease, transfer or other disposition of all or substantially all of the properties and assets of the Company as an entirety
(in any such case, a &ldquo;<B><I>Reorganization Event</I></B>&rdquo;), then, as a condition of such Reorganization Event, lawful
provisions shall be made, and duly executed documents evidencing the same from the Company&rsquo;s successor shall be delivered
to the holders of the Warrants, so that such successor shall succeed to and be substituted for the Company, and assume all the
Company&rsquo;s obligations under, this Agreement and the Warrants. The Company shall thereupon be relieved of any further obligation
hereunder or under the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved,
wound up or liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name
or in the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the
Company, and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Debt Securities
upon exercise of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and benefit under this
Agreement as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such
Warrants had been issued at the date of the execution hereof. In any case of any such Reorganization Event, such changes in phraseology
and form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may
receive a written opinion of legal counsel as conclusive evidence that any such Reorganization Event complies with the provisions
of this Section 3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.5 Notice to Warrantholders.</B> In
case the Company shall (a) effect any Reorganization Event or (b) make any distribution on or in respect of the [title of Warrant
Debt Securities] in connection with the dissolution, liquidation or winding up of the Company, then the Company shall mail to each
holder of Warrants at such holder&rsquo;s address as it shall appear on the books of the Warrant Agent, at least ten days prior
to the applicable date hereinafter specified, a notice stating the date on which such Reorganization Event, dissolution, liquidation
or winding up is expected to become effective, and the date as of which it is expected that holders of [title of Warrant Debt Securities]
of record shall be entitled to exchange their shares of [title of Warrant Debt Securities] for securities or other property deliverable
upon such Reorganization Event, dissolution, liquidation or winding up. No failure to mail such notice nor any defect therein or
in the mailing thereof shall affect any such transaction.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE 4 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.1 Exchange And Transfer Of Warrant
Certificates. </B>Upon surrender at the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may
be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered
in whole or in part; provided that such other Warrant Certificates evidence Warrants for the same aggregate principal amount of
Warrant Debt Securities as the Warrant Certificates so surrendered. The Warrant Agent shall keep, at its corporate trust office,
books in which, subject to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges
and transfers of outstanding Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate
trust office for exchange or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration
of transfer and written instructions for transfer, all in form satisfactory to the Company and the Warrant Agent. No service charge
shall be made for any exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum
sufficient to cover any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange
or registration of transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an
authorized officer of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto a Warrant
Certificate or Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be
required to effect any exchange or registration of transfer which will result in the issuance of a Warrant Certificate evidencing
a Warrant for a fraction of a Warrant Debt Security or a number of Warrants for a whole number of Warrant Debt Securities and a
fraction of a Warrant Debt Security. All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates
shall be the valid obligations of the Company, evidencing the same obligations and entitled to the same benefits under this Agreement
as the Warrant Certificate surrendered for such exchange or registration of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.2 Treatment Of Holders Of Warrant
Certificates.</B> The Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate
as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced
thereby, any notice to the contrary notwithstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.3 Cancellation Of Warrant Certificates.</B>
Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall,
if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the
Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this
Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver
to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.</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>ARTICLE 5 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.1 Warrant Agent.</B> The Company hereby
appoints [&bull;] as Warrant Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject
to the conditions herein set forth, and [&bull;] hereby accepts such appointment. The Warrant Agent shall have the powers and authority
granted to and conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf
of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers
and authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.2 Conditions Of Warrant Agent&rsquo;s
Obligations.</B> The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the
following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant
Certificates shall be subject:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) <I>Compensation And Indemnification.</I></B>
The Company agrees promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered
by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees)
incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder
by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability
or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in
connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim
of such liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) <I>Agent For The Company.</I></B>
In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent
of the Company and does not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant
Certificates or beneficial owners of Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) <I>Counsel.</I></B> The Warrant
Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in accordance with the advice of such counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) <I>Documents.</I></B> The Warrant
Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any
Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed
by it to be genuine and to have been presented or signed by the proper parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) <I>Certain Transactions.</I></B>
The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with
the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable
law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary,
trustee or agent for, any committee or body of holders of Warrant Debt Securities or other obligations of the Company as freely
as if it were not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from
acting as [Senior] [Subordinated] Trustee under the [Senior] [Subordinated] Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(f) <I>No Liability For Interest.</I></B>
Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received
by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(g) <I>No Liability For Invalidity.</I></B>
The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except
as to the Warrant Agent&rsquo;s countersignature thereon).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(h) <I>No Responsibility For Representations.</I></B>
The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except
as to the Warrant Agent&rsquo;s countersignature thereon), all of which are made solely by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(i) <I>No Implied Obligations.</I></B>
The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set
forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent.
The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or
liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall
not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated
by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the
proceeds of the Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company
in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt
of any written demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality
of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except
as provided in Section 6.2 hereof, to make any demand upon the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.3 Resignation, Removal And Appointment
Of Successors. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>The Company agrees, for the
benefit of the holders from time to time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder
until all the Warrants have been exercised or are no longer exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent may at any
time resign as agent by giving written notice to the Company of such intention on its part, specifying the date on which its desired
resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice
is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an
instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall become
effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor
Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise
corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under
Section 5.2(a) shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In case at any time the Warrant
Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or
shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable
Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver,
custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs,
or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as
they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court having
jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy
laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree
or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator,
assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer
shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation,
winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument
in writing, filed with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance
by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>Any successor Warrant Agent
appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment
hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all
the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally
named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon
become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies,
securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Any corporation into which
the Warrant Agent hereunder may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation
to which the Warrant Agent shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent,
provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution
or filing of any paper or any further act on the part of any of the parties hereto.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.1 Amendment.</B> This Agreement may
be amended by the parties hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect
to matters or questions arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided
that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.2 Notices And Demands To The Company
And Warrant Agent.</B> If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant
Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.3 Addresses.</B> Any communication
from the Company to the Warrant Agent with respect to this Agreement shall be addressed to [&bull;], Attention: [&bull;] and any
communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to to WidePoint Corporation,
7926 Jones Branch Drive, Suite 520, McLean, Virginia 22102, Attention: [&bull;] (or such other address as shall be specified in
writing by the Warrant Agent or by the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.4 Governing Law.</B> This Agreement
and each Warrant Certificate issued hereunder 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; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.5 Delivery Of Prospectus.</B> The
Company shall furnish to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of
1933, as amended, relating to the Warrant Debt Securities deliverable upon exercise of the Warrants (the &ldquo;<B><I>Prospectus</I></B>&rdquo;),
and the Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant
Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Debt Securities issued upon such
exercise, a Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy
or adequacy of such Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.6 Obtaining Of Governmental Approvals.</B>
The Company will from time to time take all action which may be necessary to obtain and keep effective any and all permits, consents
and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including
without limitation a registration statement in respect of the Warrants and Warrant Debt Securities under the Securities Act of
1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant
Debt Securities issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration
of the period during which the Warrants are exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.7 Persons Having Rights Under Warrant
Agreement.</B> Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of
the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.8 Headings.</B> The descriptive headings
of the several Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning
or construction of any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.9 Counterparts.</B> This Agreement
may be executed in any number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts
shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.10 Inspection Of Agreement.</B> A
copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent
for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate
for inspection by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">n</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">itness</FONT> W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereof</FONT></B>,
the parties hereto have caused this Agreement to be duly executed, all as of the day and year first above written.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION</B>, as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ttest</FONT>: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>C<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ountersigned</FONT></B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ttest</FONT>:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<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">[SIGNATURE PAGE TO DEBT SECURITIES WARRANT
AGREEMENT]</P>

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


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    <!-- Field: /Page -->

<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>E<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">xhibit</FONT>
A </B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Form of Legend if Warrants are not immediately exercisable.]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">[Prior to [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants evidenced by this Warrant Certificate cannot be exercised.]</FONT></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; text-align: center">EXERCISABLE ONLY IF COUNTERSIGNED BY THE
WARRANT AGENT AS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">VOID AFTER [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
P.M., [City] time, ON [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>].</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>WIDEPOINT CORPORATION</B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">No. [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This certifies that [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
or registered assigns is the registered owner of the above indicated number of Warrants, each Warrant entitling such owner to purchase,
at any time [after [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, [on [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
and] on or before [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, on, $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
principal amount of [Title of Warrant Debt Securities] (the &ldquo;<B><I>Warrant Debt Securities</I></B>&rdquo;) of WidePoint Corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;) issued or to be issued under the Indenture (as hereinafter defined), on the following
basis: during the period from [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], through and including [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>],
each Warrant shall entitle the Holder thereof, subject to the provisions of this Agreement, to purchase the principal amount of
Warrant Debt Securities stated in the Warrant Certificate at the warrant price (the &ldquo;<B><I>Warrant Price</I></B>&rdquo;)
of [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]% of the principal amount thereof [plus accrued amortization, if any,
of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which
interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities,
from the date of their original issuance]. [The original issue discount ($[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
for each $1,000 principal amount of Warrant Debt Securities) will be amortized at a [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]%
annual rate, computed on a[n] [semi-]annual basis [using a 360-day year consisting of twelve 30-day months]. The Holder may exercise
the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying in full, in lawful money
of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank
wire transfer in immediately available funds], the Warrant Price for each Warrant Debt Security with respect to which this Warrant
is exercised to the Warrant Agent (as hereinafter defined) and by surrendering this Warrant Certificate, with the purchase form
on the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor as warrant agent (the
&ldquo;<B><I>Warrant Agent</I></B>&rdquo;), which is, on the date hereof, at the address specified on the reverse hereof, and upon
compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;<B><I>Holder</I></B>&rdquo;
as used herein shall mean the person in whose name at the time this Warrant Certificate shall be registered upon the books to be
maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Warrants evidenced by this Warrant
Certificate may be exercised to purchase Warrant Debt Securities in the principal amount of $1,000 or any integral multiple thereof
in registered form. Upon any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there shall be issued
to the Holder hereof a new Warrant Certificate evidencing Warrants for the aggregate principal amount of Warrant Debt Securities
remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate is issued under
and in accordance with the Warrant Agreement dated as of [&bull;] (the &ldquo;<B><I>Warrant Agreement</I></B>&rdquo;), between
the Company and the Warrant Agent and is subject to the terms and provisions contained in the Warrant Agreement, to all of which
terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies of the Warrant Agreement are
on file at the above-mentioned office of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Warrant Debt Securities to be issued
and delivered upon the exercise of Warrants evidenced by this Warrant Certificate will be issued under and in accordance with an
Indenture, [dated as of [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] (the &ldquo;<B><I>Senior Indenture</I></B>&rdquo;),
between the Company and [&bull;], as trustee (such trustee, and any successors to such trustee, the &ldquo;<B><I>Senior Trustee</I></B>&rdquo;)]
[dated as of [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], (the &ldquo;<B><I>Subordinated Indenture</I></B>&rdquo;),
between the Company and [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], as trustee (such trustee, and any successors to
such trustee, the &ldquo;<B><I>Subordinated Trustee</I></B>&rdquo;)] and will be subject to the terms and provisions contained
in the Warrant Debt Securities and in the Indenture. Copies of the [Senior] [Subordinated] Indenture, including the form of the
Warrant Debt Securities, are on file at the corporate trust office of the [Senior][Subordinated] Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Transfer of this Warrant Certificate may
be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant Agent by the registered
owner or such owner&rsquo;s assigns, in the manner and subject to the limitations provided in the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">After countersignature by the Warrant Agent
and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at the corporate trust office
of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate principal amount of Warrant Debt Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not entitle
the Holder hereof to any of the rights of a holder of the Warrant Debt Securities, including, without limitation, the right to
receive payments of principal of (and premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of
the covenants of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Reference is hereby made to the further
provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not be valid
or obligatory for any purpose until countersigned by the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">n</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">itness</FONT> W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereof</FONT></B>,
the Company has caused this Warrant to be executed in its name and on its behalf by the facsimile signatures of its duly authorized
officers.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION, </B>as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>A<FONT STYLE="font-variant: small-caps">ttest</FONT>: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>C<FONT STYLE="font-variant: small-caps">ountersigned</FONT></B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>A<FONT STYLE="font-variant: small-caps">ttest</FONT>:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">


<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"><B>&nbsp;</B></P>


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<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; text-indent: 0"><B>[REVERSE OF WARRANT
CERTIFICATE] </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Instructions for Exercise of Warrant)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">To exercise any Warrants evidenced hereby
for Warrant Debt Securities (as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in
cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available
funds], the Warrant Price in full for Warrants exercised, to [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] [address of
Warrant Agent], Attention: [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], which payment must specify the name of the
Holder and the number of Warrants exercised by such Holder. In addition, the Holder must complete the information required below
and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at
the appropriate address set forth above. This Warrant Certificate, completed and duly executed, must be received by the Warrant
Agent within five business days of the payment.</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">(To be executed upon exercise of Warrants)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The undersigned hereby irrevocably elects
to exercise [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants, represented by this Warrant Certificate, to purchase
$[&bull;] principal amount of the [Title of Warrant Debt Securities] (the &ldquo;<B><I>Warrant Debt Securities</I></B>&rdquo;)
of WidePoint Corporation and represents that he has tendered payment for such Warrant Debt Securities, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer
in immediately available funds], to the order of WidePoint Corporation, c/o [insert name and address of Warrant Agent], in the
amount of $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] in accordance with the terms hereof. The undersigned requests
that said principal amount of Warrant Debt Securities be in fully registered form in the authorized denominations, registered in
such names and delivered all as specified in accordance with the instructions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If the number of Warrants exercised is
less than all the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants for
the aggregate principal amount of Warrant Debt Securities remaining unexercised be issued and delivered to the undersigned unless
otherwise specified in the instructions below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Please Print</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">(Insert Social Security or Other Identifying Number of Holder)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 15%"><FONT STYLE="font-size: 10pt">Signature<BR>
Guaranteed: </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 30%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Signature must conform in all respects to name of holder as
specified on the face of this Warrant Certificate and must bear a signature guarantee by a FINRA member firm).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Warrant may be exercised at the following addresses:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[Instructions as to form and delivery of Warrant Debt Securities
and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Debt Securities remaining unexercised&mdash;complete
as appropriate.]</P>

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


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<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>ASSIGNMENT</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">[Form of assignment to be executed if Warrant
Holder desires to transfer Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>F<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">or</FONT>
V<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">alue</FONT> R<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">eceived</FONT></B>,
[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] hereby sells, assigns and transfers unto:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">(Please print name and address including zip code)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Please print Social Security or other identifying number</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the right represented by the within Warrant to purchase $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
aggregate principal amount of shares [Title of Warrant Debt Securities] of WidePoint Corporation to which the within Warrant relates
and appoints attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-size: 10pt">Dated: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 38%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 51%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Signature</FONT></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; text-align: center">(Signature must conform in all respects
to name of holder as specified on the face of the Warrant)</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</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>



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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.6
<SEQUENCE>5
<FILENAME>v366522_ex4-6.htm
<DESCRIPTION>EXHIBIT 4.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.6 </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>WidePoint Corporation</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; font-variant: small-caps"><B>and</B></FONT><B>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>, A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">s</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">gent</FONT>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>F<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">orm</FONT>
O<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">f</FONT> P<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">referred</FONT>
S<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">tock</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT>
A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">greement</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>D<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ated</FONT>
A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">s</FONT> O<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">f</FONT>
</B></P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">his</FONT>
P<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">referred</FONT> S<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">tock</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">greement</FONT>
</B>(this &ldquo;<B><I>Agreement</I></B>&rdquo;), dated as of [&bull;], between <B>WidePoint Corporation</B>, a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;) and [&bull;], a [corporation] [national banking association] organized and existing under
the laws of [&bull;] and having a corporate trust office in [&bull;], as warrant agent (the &ldquo;<B><I>Warrant Agent</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT></B>,
the Company proposes to sell [<B><I>If Warrants are sold with other securities &mdash; </I></B>[title of such other securities
being offered] (the &ldquo;<B><I>Other Securities</I></B>&rdquo;) with] warrant certificates evidencing one or more warrants (the
&ldquo;<B><I>Warrants</I></B>&rdquo; or, individually, a &ldquo;<B><I>Warrant</I></B>&rdquo;) representing the right to purchase
[title of Preferred Stock purchasable through exercise of Warrants] (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;), such
warrant certificates and other warrant certificates issued pursuant to this Agreement being herein called the &ldquo;<B><I>Warrant
Certificates</I></B>&rdquo;; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT></B>,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection
with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement
wishes to set forth, among other things, the form and provisions of the Warrant Certificates and the terms and conditions on which
they may be issued, registered, transferred, exchanged, exercised and replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>N<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ow</FONT>
T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">herefore</FONT></B>, in consideration of the
premises and of the mutual agreements herein contained, the parties hereto agree as follows:</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>ARTICLE 1 </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.1 Issuance Of Warrants</B>. [<B><I>If
Warrants alone</I></B> &mdash;Upon issuance, each Warrant Certificate shall evidence one or more Warrants.] [<B><I>If Other Securities
and Warrants</I></B> &mdash;Warrant Certificates will be issued in connection with the issuance of the Other Securities but shall
be separately transferable and each Warrant Certificate shall evidence one or more Warrants.] Each Warrant evidenced thereby shall
represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Security. [<B><I>If Other
Securities and Warrants</I></B> &mdash;Warrant Certificates will be issued with the Other Securities and each Warrant Certificate
will evidence [&bull;] Warrants for each [$[&bull;] principal amount] [[&bull;] shares] of Other Securities issued.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.2 Execution And Delivery Of Warrant
Certificates</B>. Each Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in
<B>Exhibit A</B> hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers,
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the
officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are
not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation
made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform
to usage. The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive officers,
presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers,
controllers, assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures
may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates.
The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced
on the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">No Warrant Certificate shall be valid for
any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate has been countersigned by the
manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company
shall be conclusive evidence that the Warrant Certificate so countersigned has been duly issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In case any officer of the Company who
shall have signed any of the Warrant Certificates either manually or by facsimile signature shall cease to be such officer before
the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates
may be countersigned and delivered notwithstanding that the person who signed such Warrant Certificates ceased to be such officer
of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the
execution of such Warrant Certificate, shall be the proper officers of the Company, although at the date of the execution of this
Agreement any such person was not such officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;<B><I>holder</I></B>&rdquo;
or &ldquo;<B><I>holder of a Warrant Certificate</I></B>&rdquo; as used herein shall mean any person in whose name at the time any
Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.3 Issuance Of Warrant Certificates</B>.
Warrant Certificates evidencing the right to purchase Warrant Securities may be executed by the Company and delivered to the Warrant
Agent upon the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt of Warrant
Certificates duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant Certificates
to or upon the order of the Company.</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>ARTICLE 2 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.1 Warrant Price</B>. During the period
specified in Section 2.2, each Warrant shall, subject to the terms of this Warrant Agreement and the applicable Warrant Certificate,
entitle the holder thereof to purchase the number of Warrant Securities specified in the applicable Warrant Certificate at an exercise
price of $[&bull;] per Warrant Security, subject to adjustment upon the occurrence of certain events, as hereinafter provided.
Such purchase price per Warrant Security is referred to in this Agreement as the &ldquo;<B><I>Warrant Price</I></B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.2 Duration Of Warrants</B>. Each Warrant
may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof] [&bull;] and at or before
[&bull;] p.m., [City] time, on [&bull;] or such later date as the Company may designate by notice to the Warrant Agent and the
holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the &ldquo;<B><I>Expiration
Date</I></B>&rdquo;). Each Warrant not exercised at or before [&bull;] p.m., [City] time, on the Expiration Date shall become void,
and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.3 Exercise Of Warrants. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>During the period specified
in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Securities in registered form by providing
certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer
in immediately available funds] the Warrant Price for each Warrant Security with respect to which a Warrant is being exercised
to the Warrant Agent at its corporate trust office, provided that such exercise is subject to receipt within five business days
of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Securities set forth
on the reverse side of the Warrant Certificate properly completed and duly executed. The date on which payment in full of the Warrant
Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date
on which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment
in full of the Warrant Price, the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall
be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute
the person so designated to be named as the holder of record of such Warrant Securities on such date, but shall be effective to
constitute such person as the holder of record of such Warrant Securities for all purposes at the opening of business on the next
succeeding day on which the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be opened,
and the certificates for the Warrant Securities in respect of which such Warrants are then exercised shall be issuable as of the
date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall be under
no duty to deliver any certificate for such Warrant Securities. The Warrant Agent shall deposit all funds received by it in payment
of the Warrant Price in an account of the Company maintained with it and shall advise the Company by telephone at the end of each
day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall
promptly confirm such telephone advice to the Company in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent shall, from
time to time, as promptly as practicable, advise the Company of (i) the number of Warrant Securities with respect to which Warrants
were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery
of the Warrant Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing
the balance, if any, of the Warrants for the remaining Warrant Securities after such exercise, and (iv) such other information
as the Company shall reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>As soon as practicable after
the exercise of any Warrant, the Company shall issue to or upon the order of the holder of the Warrant Certificate evidencing such
Warrant, the Warrant Securities to which such holder is entitled, in fully registered form, registered in such name or names as
may be directed by such holder. If fewer than all of the Warrants evidenced by such Warrant Certificate are exercised, the Company
shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, a new Warrant Certificate
evidencing Warrants for the number of Warrant Securities remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>The Company shall not be required
to pay any stamp or other tax or other governmental charge required to be paid in connection with any transfer involved in the
issue of the Warrant Securities, and in the event that any such transfer is involved, the Company shall not be required to issue
or deliver any Warrant Security until such tax or other charge shall have been paid or it has been established to the Company&rsquo;s
satisfaction that no such tax or other charge is due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Prior to the issuance of any
Warrants there shall have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its
authorized but unissued Warrant Securities, a number of shares sufficient to provide for the exercise of the Warrants.</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>ARTICLE 3 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER PROVISIONS RELATING TO RIGHTS OF
HOLDERS OF WARRANT CERTIFICATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.1 No Rights As Warrant Securityholder
Conferred By Warrants Or Warrant Certificates</B>. No Warrant Certificate or Warrant evidenced thereby shall entitle the holder
thereof to any of the rights of a holder of Warrant Securities, including, without limitation, the right to receive the payment
of dividends or distributions, if any, on the Warrant Securities or to exercise any voting rights, except to the extent expressly
set forth in this Agreement or the applicable Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.2 Lost, Stolen, Mutilated Or Destroyed
Warrant Certificates</B>. Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership
of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant
Agent and the Company and, in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent
for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired
by a bona fide purchaser, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign
and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate
of the same tenor and evidencing Warrants for a like number of Warrant Securities. Upon the issuance of any new Warrant Certificate
under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection
therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any lost, stolen
or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the lost,
stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be entitled to the benefits of this
Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions
of this Section 3.2 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
of mutilated, lost, stolen or destroyed Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.3 Holder Of Warrant Certificate May
Enforce Rights</B>. Notwithstanding any of the provisions of this Agreement, any holder of a Warrant Certificate, without the consent
of the Warrant Agent, the holder of any Warrant Securities or the holder of any other Warrant Certificate, may, in such holder&rsquo;s
own behalf and for such holder&rsquo;s own benefit, enforce, and may institute and maintain any suit, action or proceeding against
the Company suitable to enforce, or otherwise in respect of, such holder&rsquo;s right to exercise the Warrants evidenced by such
holder&rsquo;s Warrant Certificate in the manner provided in such holder&rsquo;s Warrant Certificate and in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.4 Adjustments. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>In case the Company shall at
any time subdivide its outstanding shares of [title of Preferred Stock purchasable through exercise of Warrants] into a greater
number of shares, the Warrant Price in effect immediately prior to such subdivision shall be proportionately reduced and the number
of Warrant Securities purchasable under the Warrants shall be proportionately increased. Conversely, in case the outstanding shares
of [title of Preferred Stock purchasable through exercise of Warrants] of the Company shall be combined into a smaller number of
shares, the Warrant Price in effect immediately prior to such combination shall be proportionately increased and the number of
Warrant Securities purchasable under the Warrants shall be proportionately decreased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>If at any time or from time
to time the holders of [title of Preferred Stock purchasable through exercise of Warrants] (or any shares of stock or other securities
at the time receivable upon the exercise of the Warrants) shall have received or become entitled to receive, without payment therefore,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(i) </B>[title of Preferred Stock purchasable
through exercise of Warrants] or any shares of stock or other securities which are at any time directly or indirectly convertible
into or exchangeable for [title of Preferred Stock purchasable through exercise of Warrants], or any rights or options to subscribe
for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(ii) </B>any cash paid or payable otherwise
than in accordance with the terms of [title of Preferred Stock purchasable through exercise of Warrants] or otherwise than as a
cash dividend paid or payable out of the Company&rsquo;s current or retained earnings;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(iii) </B>any evidence of the Company&rsquo;s
indebtedness or rights to subscribe for or purchase the Company&rsquo;s indebtedness; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(iv) </B>[title of Preferred Stock
purchasable through exercise of Warrants] or additional stock or other securities or property (including cash) by way of spinoff,
split-up, reclassification, combination of shares or similar corporate rearrangement (other than shares of [title of Preferred
Stock purchasable through exercise of Warrants] issued as a stock split or adjustments in respect of which shall be covered by
the terms of Section 3.4(a) above), then and in each such case, the holder of each Warrant shall, upon the exercise of the Warrant,
be entitled to receive, in addition to the number of Warrant Securities receivable thereupon, and without payment of any additional
consideration therefore, the amount of stock and other securities and property (including cash and indebtedness or rights to subscribe
for or purchase indebtedness) which such holder would hold on the date of such exercise had he been the holder of record of such
Warrant Securities as of the date on which holders of [title of Preferred Stock purchasable through exercise of Warrants] received
or became entitled to receive such shares or all other additional stock and other securities and property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In case of (i) any reclassification,
capital reorganization, or change in the [title of Preferred Stock purchasable through the exercise of the Warrants] of the Company
(other than as a result of a subdivision, combination or stock dividend provided for in Section 3.4(a) or Section 3.4(b) above),
(ii) share exchange, merger or similar transaction of the Company with or into another person or entity (other than a share exchange,
merger or similar transaction in which the Company is the acquiring or surviving corporation and which does not result in any change
in the [title of Preferred Stock purchasable through the exercise of the Warrants] other than the issuance of additional shares
of [title of Preferred Stock purchasable through the exercise of the Warrants]) or (iii) the sale, exchange, lease, transfer or
other disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such case, a &ldquo;<B><I>Reorganization
Event</I></B>&rdquo;), then, as a condition of such Reorganization Event, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the holders of the Warrants, so that the holders of
the Warrants shall have the right at any time prior to the expiration of the Warrants to purchase, at a total price equal to that
payable upon the exercise of the Warrants, the kind and amount of shares of stock and other securities and property receivable
in connection with such Reorganization Event by a holder of the same number of shares of [title of Preferred Stock purchasable
through the exercise of the Warrants] as were purchasable by the holders of the Warrants immediately prior to such Reorganization
Event. In any such case appropriate provisions shall be made with respect to the rights and interests of the holders of the Warrants
so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property
deliverable upon exercise the Warrants, and appropriate adjustments shall be made to the Warrant Price payable hereunder provided
the aggregate purchase price shall remain the same. In the case of any transaction described in clauses (ii) and (iii) above, the
Company shall thereupon be relieved of any further obligation hereunder or under the Warrants, and the Company as the predecessor
corporation may thereupon or at any time thereafter be dissolved, wound up or liquidated. Such successor or assuming entity thereupon
may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Warrants issuable
hereunder which heretofore shall not have been signed by the Company, and may execute and deliver securities in its own name, in
fulfillment of its obligations to deliver Warrant Securities upon exercise of the Warrants. All the Warrants so issued shall in
all respects have the same legal rank and benefit under this Agreement as the Warrants theretofore or thereafter issued in accordance
with the terms of this Agreement as though all of such Warrants had been issued at the date of the execution hereof. In any case
of any such Reorganization Event, such changes in phraseology and form (but not in substance) may be made in the Warrants thereafter
to be issued as may be appropriate. The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence that
any such Reorganization Event complies with the provisions of this Section 3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>The Company may, at its option,
at any time until the Expiration Date, reduce the then current Warrant Price to any amount deemed appropriate by the Board of Directors
of the Company for any period not exceeding twenty consecutive days (as evidenced in a resolution adopted by such Board of Directors),
but only upon giving the notices required by Section 3.5 at least ten days prior to taking such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Except as herein otherwise
expressly provided, no adjustment in the Warrant Price shall be made by reason of the issuance of any securities of the Company
or for any other reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(f) </B>No fractional Warrant Securities
shall be issued upon the exercise of Warrants. If more than one Warrant shall be exercised at one time by the same holder, the
number of full Warrant Securities which shall be issuable upon such exercise shall be computed on the basis of the aggregate number
of Warrant Securities purchased pursuant to the Warrants so exercised. Instead of any fractional Warrant Security which would otherwise
be issuable upon exercise of any Warrant, the Company shall pay a cash adjustment in respect of such fraction in an amount equal
to the same fraction of the last reported sale price (or bid price if there were no sales) per Warrant Security, in either case
as reported on the principal registered national securities exchange on which the Warrant Securities are listed or admitted to
trading on the business day that next precedes the day of exercise or, if the Warrant Securities are not then listed or admitted
to trading on any registered national securities exchange, the average of the closing high bid and low asked prices as reported
on the OTC Bulletin Board Service (the &ldquo;<B><I>OTC Bulletin Board</I></B>&rdquo;) operated by the Financial Industry Regulatory
Authority, Inc. (&ldquo;<B><I>FINRA</I></B>&rdquo;) or, if not available on the OTC Bulletin Board, then the average of the closing
high bid and low asked prices as reported on any other U.S. quotation medium or inter-dealer quotation system on such date, or
if on any such date the Warrant Securities are not listed or admitted to trading on a registered national securities exchange,
are not included in the OTC Bulletin Board, and are not quoted on any other U.S. quotation medium or inter-dealer quotation system,
an amount equal to the same fraction of the average of the closing bid and asked prices as furnished by any FINRA member firm selected
from time to time by the Company for that purpose at the close of business on the business day that next precedes the day of exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">7.</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: 48.95pt"><B>(g) </B>Whenever the Warrant Price
then in effect is adjusted as herein provided, the Company shall mail to each holder of the Warrants at such holder&rsquo;s address
as it shall appear on the books of the Company a statement setting forth the adjusted Warrant Price then and thereafter effective
under the provisions hereof, together with the facts, in reasonable detail, upon which such adjustment is based.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.5 Notice To Warrantholders</B>. In
case the Company shall (a) effect any dividend or distribution described in Section 3.4(b), (b) effect any Reorganization Event,
(c) make any distribution on or in respect of the [title of Preferred Stock purchasable through the exercise of the Warrants] in
connection with the dissolution, liquidation or winding up of the Company, or (d) reduce the then current Warrant Price pursuant
to Section 3.4(d), then the Company shall mail to each holder of Warrants at such holder&rsquo;s address as it shall appear on
the books of the Warrant Agent, at least ten days prior to the applicable date hereinafter specified, a notice stating (x) the
record date for such dividend or distribution, or, if a record is not to be taken, the date as of which the holders of record of
[title of Preferred Stock purchasable through the exercise of Warrants] that will be entitled to such dividend or distribution
are to be determined, (y) the date on which such Reorganization Event, dissolution, liquidation or winding up is expected to become
effective, and the date as of which it is expected that holders of [title of Preferred Stock purchasable through the exercise of
the Warrants] of record shall be entitled to exchange their shares of [title of Preferred Stock purchasable through the exercise
of the Warrants] for securities or other property deliverable upon such Reorganization Event, dissolution, liquidation or winding
up, or (z) the first date on which the then current Warrant Price shall be reduced pursuant to Section 3.4(d). No failure to mail
such notice nor any defect therein or in the mailing thereof shall affect any such transaction or any adjustment in the Warrant
Price required by Section 3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.6 [<I>If The Warrants Are Subject
To Acceleration By The Company, Insert&mdash;</I>Acceleration Of Warrants By The Company.] </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>At any time on or after [&bull;],
the Company shall have the right to accelerate any or all Warrants at any time by causing them to expire at the close of business
on the day next preceding a specified date (the &ldquo;<B><I>Acceleration Date</I></B>&rdquo;), if the Market Price (as hereinafter
defined) of the [title of Preferred Stock purchasable through the exercise of the Warrants] equals or exceeds [&bull;] percent
([&bull;]%) of the then effective Warrant Price on any twenty Trading Days (as hereinafter defined) within a period of thirty consecutive
Trading Days ending no more than five Trading Days prior to the date on which the Company gives notice to the Warrant Agent of
its election to accelerate the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>&ldquo;<B><I>Market Price</I></B>&rdquo;
for each Trading Day shall be, if the [title of Preferred Stock purchasable through the exercise of the Warrants] is listed or
admitted to trading on any registered national securities exchange, the last reported sale price, regular way (or, if no such price
is reported, the average of the reported closing bid and asked prices, regular way) of [title of Preferred Stock purchasable through
the exercise of the Warrants], in either case as reported on the principal registered national securities exchange on which the
[title of Preferred Stock purchasable through the exercise of the Warrants] is listed or admitted to trading or, if not listed
or admitted to trading on any registered national securities exchange, the average of the closing high bid and low asked prices
as reported on the OTC Bulletin Board operated by FINRA, or if not available on the OTC Bulletin Board, then the average of the
closing high bid and low asked prices as reported on any other U.S. quotation medium or inter-dealer quotation system, or if on
any such date the shares of [title of Preferred Stock purchasable through the exercise of the Warrants] are not listed or admitted
to trading on a registered national securities exchange, are not included in the OTC Bulletin Board, and are not quoted on any
other U.S. quotation medium or inter-dealer quotation system, the average of the closing bid and asked prices as furnished by any
FINRA member firm selected from time to time by the Company for that purpose. &ldquo;<B><I>Trading Day</I></B>&rdquo; shall be
each Monday through Friday, other than any day on which securities are not traded in the system or on the exchange that is the
principal market for the [title of Preferred Stock purchasable through the exercise of the Warrants], as determined by the Board
of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In the event of an acceleration
of less than all of the Warrants, the Warrant Agent shall select the Warrants to be accelerated by lot, pro rata or in such other
manner as it deems, in its discretion, to be fair and appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>Notice of an acceleration specifying
the Acceleration Date shall be sent by mail first class, postage prepaid, to each registered holder of a Warrant Certificate representing
a Warrant accelerated at such holder&rsquo;s address appearing on the books of the Warrant Agent not more than sixty days nor less
than thirty days before the Acceleration Date. Such notice of an acceleration also shall be given no more than twenty days, and
no less than ten days, prior to the mailing of notice to registered holders of Warrants pursuant to this Section 3.6, by publication
at least once in a newspaper of general circulation in the City of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Any Warrant accelerated may
be exercised until [&bull;] p.m., [City] time, on the business day next preceding the Acceleration Date. The Warrant Price shall
be payable as provided in Section 2.]</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>ARTICLE 4 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.1 Exchange And Transfer Of Warrant
Certificates. </B>Upon surrender at the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may
be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered
in whole or in part; provided that such other Warrant Certificates evidence Warrants for the same aggregate number of Warrant Securities
as the Warrant Certificates so surrendered. The Warrant Agent shall keep, at its corporate trust office, books in which, subject
to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding
Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate trust office for exchange
or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written
instructions for transfer, all in form satisfactory to the Company and the Warrant Agent. No service charge shall be made for any
exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient to cover
any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange or registration of
transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an authorized officer
of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto a Warrant Certificate or
Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be required to effect
any exchange or registration of transfer which will result in the issuance of a Warrant Certificate evidencing a Warrant for a
fraction of a Warrant Security or a number of Warrants for a whole number of Warrant Securities and a fraction of a Warrant Security.
All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be the valid obligations
of the Company, evidencing the same obligations and entitled to the same benefits under this Agreement as the Warrant Certificate
surrendered for such exchange or registration of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.2 Treatment Of Holders Of Warrant
Certificates</B>. The Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate
as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced
thereby, any notice to the contrary notwithstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.3 Cancellation Of Warrant Certificates</B>.
Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall,
if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the
Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this
Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver
to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.</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>ARTICLE 5 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.1 Warrant Agent</B>. The Company hereby
appoints [&bull;] as Warrant Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject
to the conditions herein set forth, and [&bull;] hereby accepts such appointment. The Warrant Agent shall have the powers and authority
granted to and conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf
of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers
and authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.2 Conditions Of Warrant Agent&rsquo;s
Obligations</B>. The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the
following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant
Certificates shall be subject:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) Compensation And Indemnification</B>.
The Company agrees promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered
by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees)
incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder
by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability
or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in
connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim
of such liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) Agent For The Company</B>. In acting
under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the
Company and does not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant Certificates
or beneficial owners of Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) Counsel</B>. The Warrant Agent
may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in accordance with the advice of such counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) Documents</B>. The Warrant Agent
shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant
Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it
to be genuine and to have been presented or signed by the proper parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) Certain Transactions</B>. The Warrant
Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same
rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it
or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee
or agent for, any committee or body of holders of Warrant Securities or other obligations of the Company as freely as if it were
not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as
trustee under any indenture to which the Company is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(f) No Liability For Interest</B>.
Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received
by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(g) No Liability For Invalidity</B>.
The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except
as to the Warrant Agent&rsquo;s countersignature thereon).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(h) No Responsibility For Representations</B>.
The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except
as to the Warrant Agent&rsquo;s countersignature thereon), all of which are made solely by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(i) No Implied Obligations</B>. The
Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth
and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The
Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability,
the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be
accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by
the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds
of the Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the
performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any
written demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality
of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except
as provided in Section 6.2 hereof, to make any demand upon the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.3 Resignation, Removal And Appointment
Of Successors. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>The Company agrees, for the
benefit of the holders from time to time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder
until all the Warrants have been exercised or are no longer exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent may at any
time resign as agent by giving written notice to the Company of such intention on its part, specifying the date on which its desired
resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice
is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an
instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall become
effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor
Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise
corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under
Section 5.2(a) shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In case at any time the Warrant
Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or
shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable
Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver,
custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs,
or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as
they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court having
jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy
laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree
or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator,
assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer
shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation,
winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument
in writing, filed with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance
by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>Any successor Warrant Agent
appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment
hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all
the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally
named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon
become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies,
securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Any corporation into which
the Warrant Agent hereunder may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation
to which the Warrant Agent shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent,
provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution
or filing of any paper or any further act on the part of any of the parties hereto.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.1 Amendment</B>. This Agreement may
be amended by the parties hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect
to matters or questions arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided
that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.2 Notices And Demands To The Company
And Warrant Agent</B>. If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant
Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.3 Addresses</B>. Any communication
from the Company to the Warrant Agent with respect to this Agreement shall be addressed to [&bull;], Attention: [&bull;] and any
communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to WidePoint Corporation,
7926 Jones Branch Drive, Suite 520, McLean, Virginia 22102, Attention: [&bull;] (or such other address as shall be specified in
writing by the Warrant Agent or by the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.4 Governing Law</B>. This Agreement
and each Warrant Certificate issued hereunder 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; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.5 Delivery Of Prospectus</B>. The
Company shall furnish to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of
1933, as amended, relating to the Warrant Securities deliverable upon exercise of the Warrants (the &ldquo;<B><I>Prospectus</I></B>&rdquo;),
and the Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant
Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Securities issued upon such exercise,
a Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy
of such Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.6 Obtaining Of Governmental Approvals</B>.
The Company will from time to time take all action which may be necessary to obtain and keep effective any and all permits, consents
and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including
without limitation a registration statement in respect of the Warrants and Warrant Securities under the Securities Act of 1933,
as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant Securities
issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period
during which the Warrants are exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.7 Persons Having Rights Under Warrant
Agreement</B>. Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of
the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.8 Headings</B>. The descriptive headings
of the several Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning
or construction of any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.9 Counterparts</B>. This Agreement
may be executed in any number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts
shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.10 Inspection Of Agreement</B>. A
copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent
for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate
for inspection by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">n</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">itness</FONT> W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereof</FONT></B>,
the parties hereto have caused this Agreement to be duly executed, all as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION</B>, as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COUNTERSIGNED</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<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">[S<FONT STYLE="font-variant: small-caps">ignature</FONT>
P<FONT STYLE="font-variant: small-caps">age</FONT> T<FONT STYLE="font-variant: small-caps">o</FONT> P<FONT STYLE="font-variant: small-caps">referred</FONT>
S<FONT STYLE="font-variant: small-caps">tock</FONT> W<FONT STYLE="font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-variant: small-caps">greement</FONT>]</P>


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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Form of Legend if Warrants are not immediately exercisable.]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">[Prior to [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants evidenced by this Warrant Certificate cannot be exercised.]</FONT></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; text-align: center">EXERCISABLE ONLY IF COUNTERSIGNED BY THE
WARRANT AGENT AS PROVIDED HEREIN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">VOID AFTER [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
P.M., [City] time, ON [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>].</P>

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">No. [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This certifies that [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
or registered assigns is the registered owner of the above indicated number of Warrants, each Warrant entitling such owner to purchase,
at any time [after [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, on [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
and] on or before [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, on [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
shares of [Title of Warrant Securities] (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;), of WidePoint Corporation (the &ldquo;<B><I>Company</I></B>&rdquo;)
on the following basis: during the period from [&bull;], through and including [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>],
the exercise price per Warrant Security will be $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], subject to adjustment
as provided in the Warrant Agreement (as hereinafter defined) (the &ldquo;<B><I>Warrant Price</I></B>&rdquo;). The Holder may exercise
the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying in full, in lawful money
of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank
wire transfer in immediately available funds], the Warrant Price for each Warrant Security with respect to which this Warrant is
exercised to the Warrant Agent (as hereinafter defined) and by surrendering this Warrant Certificate, with the purchase form on
the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor as warrant agent (the
&ldquo;<B><I>Warrant Agent</I></B>&rdquo;), which is, on the date hereof, at the address specified on the reverse hereof, and upon
compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;Holder&rdquo; as used herein
shall mean the person in whose name at the time this Warrant Certificate shall be registered upon the books to be maintained by
the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Warrants evidenced by this Warrant
Certificate may be exercised to purchase a whole number of Warrant Securities in registered form. Upon any exercise of fewer than
all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant Certificate
evidencing Warrants for the number of Warrant Securities remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate is issued under
and in accordance with the Warrant Agreement dated as of [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] (the &ldquo;<B><I>Warrant
Agreement</I></B>&rdquo;), between the Company and the Warrant Agent and is subject to the terms and provisions contained in the
Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies
of the Warrant Agreement are on file at the above-mentioned office of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Transfer of this Warrant Certificate may
be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant Agent by the registered
owner or such owner&rsquo;s assigns, in the manner and subject to the limitations provided in the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">After countersignature by the Warrant Agent
and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at the corporate trust office
of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate number of Warrant Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not entitle
the Holder hereof to any of the rights of a holder of the Warrant Securities, including, without limitation, the right to receive
payments of dividends or distributions, if any, on the Warrant Securities (except to the extent set forth in the Warrant Agreement)
or to exercise any voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Reference is hereby made to the further
provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not be valid
or obligatory for any purpose until countersigned by the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">n</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">itness</FONT> W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereof</FONT></B>,
the Company has caused this Warrant to be executed in its name and on its behalf by the facsimile signatures of its duly authorized
officers.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION</B>, as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COUNTERSIGNED</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both"><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-align: center"><B>[REVERSE OF WARRANT CERTIFICATE]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Instructions for Exercise of Warrant)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">To exercise any Warrants evidenced hereby
for Warrant Securities (as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in cash
or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available
funds], the Warrant Price in full for Warrants exercised, to [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] [address of
Warrant Agent], Attention: [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>], which payment must specify the name of the
Holder and the number of Warrants exercised by such Holder. In addition, the Holder must complete the information required below
and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at
the appropriate address set forth above. This Warrant Certificate, completed and duly executed, must be received by the Warrant
Agent within five business days of the payment.</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">(To be executed upon exercise of Warrants)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The undersigned hereby irrevocably elects
to exercise [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants, evidenced by this Warrant Certificate, to purchase
[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] shares of the [Title of Warrant Securities] (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;),
of WidePoint Corporation and represents that he has tendered payment for such Warrant Securities, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer
in immediately available funds], to the order of WidePoint Corporation, c/o [insert name and address of Warrant Agent], in the
amount of $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] in accordance with the terms hereof. The undersigned requests
that said Warrant Securities be in fully registered form in the authorized denominations, registered in such names and delivered
all as specified in accordance with the instructions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If the number of Warrants exercised is
less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants
for the number of Warrant Securities remaining unexercised be issued and delivered to the undersigned unless otherwise specified
in the instructions below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Please Print</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">(Insert Social Security or Other Identifying Number of Holder)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 15%"><FONT STYLE="font-size: 10pt">Signature</FONT><BR>
<FONT STYLE="font-size: 10pt">Guaranteed: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 29%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Signature must conform in all respects to name of holder as
specified on the face of this Warrant Certificate and must bear a signature guarantee by a FINRA member firm).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Warrant may be exercised at the following addresses:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[Instructions as to form and delivery of Warrant Securities
and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Securities remaining unexercised&mdash;complete
as appropriate.]</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-align: center"><B>ASSIGNMENT</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">[Form of assignment to be executed if Warrant
Holder desires to transfer Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>F<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">or</FONT>
V<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">alue</FONT> R<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">eceived</FONT></B>,
[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] hereby sells, assigns and transfers unto:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-top: black 1pt solid; padding-bottom: 12pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">(Please print name and address including zip code)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">Please print Social Security or other identifying number</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the right represented by the within Warrant to purchase [&bull;]
shares of [Title of Warrant Securities] of WidePoint Corporation to which the within Warrant relates and appoints [&bull;] attorney
to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></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; text-align: center">(Signature must conform in all respects
to name of holder as specified on the face of the Warrant)</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</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>



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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.7
<SEQUENCE>6
<FILENAME>v366522_ex4-7.htm
<DESCRIPTION>EXHIBIT 4.7
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<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 4.7</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>WidePoint Corporation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>, <FONT STYLE="font-variant: small-caps">As
Warrant Agent</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Form
Of Common Stock </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Dated
As Of </B></FONT></P>

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

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">his</FONT>
C<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ommon</FONT> S<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">tock</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">arrant</FONT> A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">greement</FONT>
</B>(this &ldquo;<B><I>Agreement</I></B>&rdquo;), dated as of [&bull;], between <B>WidePoint Corporation</B>, a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;) and [&bull;], a [corporation] [national banking association] organized and existing under
the laws of [&bull;] and having a corporate trust office in [&bull;], as warrant agent (the &ldquo;<B><I>Warrant Agent</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT>,</B>
the Company proposes to sell [<B><I>If Warrants are sold with other securities &mdash; </I></B>[title of such other securities
being offered] (the &ldquo;<B><I>Other Securities</I></B>&rdquo;) with] warrant certificates evidencing one or more warrants (the
&ldquo;<B><I>Warrants</I></B>&rdquo; or, individually, a &ldquo;<B><I>Warrant</I></B>&rdquo;) representing the right to purchase
Common Stock of the Company, par value $0.001 per share (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;), such warrant certificates
and other warrant certificates issued pursuant to this Agreement being herein called the &ldquo;<B><I>Warrant Certificates</I></B>&rdquo;;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereas</FONT>,
</B>the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection
with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement
wishes to set forth, among other things, the form and provisions of the Warrant Certificates and the terms and conditions on which
they may be issued, registered, transferred, exchanged, exercised and replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>N<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">ow</FONT>
T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">herefore</FONT>,</B> in consideration of the
premises and of the mutual agreements herein contained, the parties hereto agree as follows:</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>ARTICLE 1 </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.1 Issuance Of Warrants. </B>[<B><I>If
Warrants alone</I></B> &mdash;Upon issuance, each Warrant Certificate shall evidence one or more Warrants.] [<B><I>If Other Securities
and Warrants</I></B> &mdash;Warrant Certificates will be issued in connection with the issuance of the Other Securities but shall
be separately transferable and each Warrant Certificate shall evidence one or more Warrants.] Each Warrant evidenced thereby shall
represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Security.<B> </B>[<B><I>If
Other Securities and Warrants</I></B> &mdash;Warrant Certificates will be issued with the Other Securities and each Warrant Certificate
will evidence [&bull;] Warrants for each [$[&bull;] principal amount] [[&bull;] shares] of Other Securities issued.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.2 Execution And Delivery Of Warrant
Certificates. </B>Each Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in
<B>Exhibit A</B> hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers,
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the
officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are
not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation
made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform
to usage. The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive officers,
presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers,
controllers, assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures
may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates.
The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced
on the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">No Warrant Certificate shall be valid for
any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate has been countersigned by the
manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company
shall be conclusive evidence that the Warrant Certificate so countersigned has been duly issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In case any officer of the Company who
shall have signed any of the Warrant Certificates either manually or by facsimile signature shall cease to be such officer before
the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates
may be countersigned and delivered notwithstanding that the person who signed such Warrant Certificates ceased to be such officer
of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the
execution of such Warrant Certificate, shall be the proper officers of the Company, although at the date of the execution of this
Agreement any such person was not such officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;<B><I>holder</I></B>&rdquo;
or &ldquo;<B><I>holder of a Warrant Certificate</I></B>&rdquo; as used herein shall mean any person in whose name at the time any
Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>1.3 Issuance Of Warrant Certificates.
</B>Warrant Certificates evidencing the right to purchase Warrant Securities may be executed by the Company and delivered to the
Warrant Agent upon the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt
of Warrant Certificates duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant
Certificates to or upon the order of the Company.</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>ARTICLE 2 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.1 Warrant Price. </B>During the period
specified in Section 2.2, each Warrant shall, subject to the terms of this Warrant Agreement and the applicable Warrant Certificate,
entitle the holder thereof to purchase the number of Warrant Securities specified in the applicable Warrant Certificate at an exercise
price of $[&bull;] per Warrant Security, subject to adjustment upon the occurrence of certain events, as hereinafter provided.
Such purchase price per Warrant Security is referred to in this Agreement as the &ldquo;<B><I>Warrant Price.</I></B>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.2 Duration Of Warrants. </B>Each Warrant
may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof] [&bull;] and at or before
[&bull;] p.m., [City] time, on [&bull;] or such later date as the Company may designate by notice to the Warrant Agent and the
holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the &ldquo;<B><I>Expiration
Date</I></B>&rdquo;). Each Warrant not exercised at or before [&bull;] p.m., [City] time, on the Expiration Date shall become void,
and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>2.3 Exercise Of Warrants. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>During the period specified
in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Securities in registered form by providing
certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer
in immediately available funds] the Warrant Price for each Warrant Security with respect to which a Warrant is being exercised
to the Warrant Agent at its corporate trust office, provided that such exercise is subject to receipt within five business days
of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Securities set forth
on the reverse side of the Warrant Certificate properly completed and duly executed. The date on which payment in full of the Warrant
Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date
on which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment
in full of the Warrant Price, the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall
be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute
the person so designated to be named as the holder of record of such Warrant Securities on such date, but shall be effective to
constitute such person as the holder of record of such Warrant Securities for all purposes at the opening of business on the next
succeeding day on which the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be opened,
and the certificates for the Warrant Securities in respect of which such Warrants are then exercised shall be issuable as of the
date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall be under
no duty to deliver any certificate for such Warrant Securities. The Warrant Agent shall deposit all funds received by it in payment
of the Warrant Price in an account of the Company maintained with it and shall advise the Company by telephone at the end of each
day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall
promptly confirm such telephone advice to the Company in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent shall, from
time to time, as promptly as practicable, advise the Company of (i) the number of Warrant Securities with respect to which Warrants
were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery
of the Warrant Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing
the balance, if any, of the Warrants for the remaining Warrant Securities after such exercise, and (iv) such other information
as the Company shall reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>As soon as practicable after
the exercise of any Warrant, the Company shall issue to or upon the order of the holder of the Warrant Certificate evidencing such
Warrant the Warrant Securities to which such holder is entitled, in fully registered form, registered in such name or names as
may be directed by such holder. If fewer than all of the Warrants evidenced by such Warrant Certificate are exercised, the Company
shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, a new Warrant Certificate
evidencing Warrants for the number of Warrant Securities remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>The Company shall not be required
to pay any stamp or other tax or other governmental charge required to be paid in connection with any transfer involved in the
issue of the Warrant Securities, and in the event that any such transfer is involved, the Company shall not be required to issue
or deliver any Warrant Security until such tax or other charge shall have been paid or it has been established to the Company&rsquo;s
satisfaction that no such tax or other charge is due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Prior to the issuance of any
Warrants there shall have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its
authorized but unissued Warrant Securities, a number of shares sufficient to provide for the exercise of the Warrants.</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>ARTICLE 3 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER PROVISIONS RELATING TO RIGHTS OF
HOLDERS OF </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.1 No Rights As Warrant Securityholder
Conferred By Warrants Or Warrant Certificates. </B>No Warrant Certificate or Warrant evidenced thereby shall entitle the holder
thereof to any of the rights of a holder of Warrant Securities, including, without limitation, the right to receive the payment
of dividends or distributions, if any, on the Warrant Securities or to exercise any voting rights, except to the extent expressly
set forth in this Agreement or the applicable Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.2 Lost, Stolen, Mutilated Or Destroyed
Warrant Certificates. </B>Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership
of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant
Agent and the Company and, in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent
for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired
by a bona fide purchaser, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign
and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate
of the same tenor and evidencing Warrants for a like number of Warrant Securities. Upon the issuance of any new Warrant Certificate
under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection
therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any lost, stolen
or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the lost,
stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be entitled to the benefits of this
Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions
of this Section 3.2 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
of mutilated, lost, stolen or destroyed Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.3 Holder Of Warrant Certificate May
Enforce Rights. </B>Notwithstanding any of the provisions of this Agreement, any holder of a Warrant Certificate, without the consent
of the Warrant Agent, the holder of any Warrant Securities or the holder of any other Warrant Certificate, may, in such holder&rsquo;s
own behalf and for such holder&rsquo;s own benefit, enforce, and may institute and maintain any suit, action or proceeding against
the Company suitable to enforce, or otherwise in respect of, such holder&rsquo;s right to exercise the Warrants evidenced by such
holder&rsquo;s Warrant Certificate in the manner provided in such holder&rsquo;s Warrant Certificate and in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.4 Adjustments. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>In case the Company shall at
any time subdivide its outstanding shares of Common Stock into a greater number of shares, the Warrant Price in effect immediately
prior to such subdivision shall be proportionately reduced and the number of Warrant Securities purchasable under the Warrants
shall be proportionately increased. Conversely, in case the outstanding shares of Common Stock of the Company shall be combined
into a smaller number of shares, the Warrant Price in effect immediately prior to such combination shall be proportionately increased
and the number of Warrant Securities purchasable under the Warrants shall be proportionately decreased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>If at any time or from time
to time the holders of Common Stock (or any shares of stock or other securities at the time receivable upon the exercise of the
Warrants) shall have received or become entitled to receive, without payment therefore,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(i) </B>Common Stock or any shares
of stock or other securities which are at any time directly or indirectly convertible into or exchangeable for Common Stock, or
any rights or options to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(ii) </B>any cash paid or payable otherwise
than as a cash dividend paid or payable out of the Company&rsquo;s current or retained earnings;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(iii) </B>any evidence of the Company&rsquo;s
indebtedness or rights to subscribe for or purchase the Company&rsquo;s indebtedness; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 79.55pt"><B>(iv) </B>Common Stock or additional
stock or other securities or property (including cash) by way of spinoff, split-up, reclassification, combination of shares or
similar corporate rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of which shall
be covered by the terms of Section 3.4(a) above), then and in each such case, the holder of each Warrant shall, upon the exercise
of the Warrant, be entitled to receive, in addition to the number of Warrant Securities receivable thereupon, and without payment
of any additional consideration therefore, the amount of stock and other securities and property (including cash and indebtedness
or rights to subscribe for or purchase indebtedness) which such holder would hold on the date of such exercise had he been the
holder of record of such Warrant Securities as of the date on which holders of Common Stock received or became entitled to receive
such shares or all other additional stock and other securities and property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In case of (i) any reclassification,
capital reorganization, or change in the Common Stock of the Company (other than as a result of a subdivision, combination, or
stock dividend provided for in Section 3.4(a) or Section 3.4(b) above), (ii) share exchange, merger or similar transaction of the
Company with or into another person or entity (other than a share exchange, merger or similar transaction in which the Company
is the acquiring or surviving corporation and which does not result in any change in the Common Stock other than the issuance of
additional shares of Common Stock) or (iii) the sale, exchange, lease, transfer or other disposition of all or substantially all
of the properties and assets of the Company as an entirety (in any such case, a &ldquo;<B><I>Reorganization Event</I></B>&rdquo;),
then, as a condition of such Reorganization Event, lawful provisions shall be made, and duly executed documents evidencing the
same from the Company or its successor shall be delivered to the holders of the Warrants, so that the holders of the Warrants shall
have the right at any time prior to the expiration of the Warrants to purchase, at a total price equal to that payable upon the
exercise of the Warrants, the kind and amount of shares of stock and other securities and property receivable in connection with
such Reorganization Event by a holder of the same number of Warrant Securities as were purchasable by the holders of the Warrants
immediately prior to such Reorganization Event. In any such case appropriate provisions shall be made with respect to the rights
and interests of the holders of the Warrants so that the provisions hereof shall thereafter be applicable with respect to any shares
of stock or other securities and property deliverable upon exercise the Warrants, and appropriate adjustments shall be made to
the Warrant Price payable hereunder provided the aggregate purchase price shall remain the same. In the case of any transaction
described in clauses (ii) and (iii) above, the Company shall thereupon be relieved of any further obligation hereunder or under
the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up or
liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in the
name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the Company,
and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Securities upon exercise
of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and benefit under this Agreement as
the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Warrants had
been issued at the date of the execution hereof. In any case of any such Reorganization Event, such changes in phraseology and
form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may receive
a written opinion of legal counsel as conclusive evidence that any such Reorganization Event complies with the provisions of this
Section 3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>The Company may, at its option,
at any time until the Expiration Date, reduce the then current Warrant Price to any amount deemed appropriate by the Board of Directors
of the Company for any period not exceeding twenty consecutive days (as evidenced in a resolution adopted by such Board of Directors),
but only upon giving the notices required by Section 3.5 at least ten days prior to taking such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Except as herein otherwise
expressly provided, no adjustment in the Warrant Price shall be made by reason of the issuance of shares of Common Stock, or securities
convertible into or exchangeable for shares of Common Stock, or securities carrying the right to purchase any of the foregoing
or for any other reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(f) </B>No fractional Warrant Securities
shall be issued upon the exercise of Warrants. If more than one Warrant shall be exercised at one time by the same holder, the
number of full Warrant Securities which shall be issuable upon such exercise shall be computed on the basis of the aggregate number
of Warrant Securities purchased pursuant to the Warrants so exercised. Instead of any fractional Warrant Security which would otherwise
be issuable upon exercise of any Warrant, the Company shall pay a cash adjustment in respect of such fraction in an amount equal
to the same fraction of the last reported sale price (or bid price if there were no sales) per Warrant Security, in either case
as reported on the principal registered national securities exchange on which the Warrant Securities are listed or admitted to
trading on the business day that next precedes the day of exercise or, if the Warrant Securities are not then listed or admitted
to trading on any registered national securities exchange, the average of the closing high bid and low asked prices as reported
on the OTC Bulletin Board Service (the &ldquo;<B><I>OTC Bulletin Board</I></B>&rdquo;) operated by the Financial Industry Regulatory
Authority, Inc. (&ldquo;<B><I>FINRA</I></B>&rdquo; ) or, if not available on the OTC Bulletin Board, then the average of the closing
high bid and low asked prices as reported on any other U.S. quotation medium or inter-dealer quotation system on such date, or
if on any such date the Warrant Securities are not listed or admitted to trading on a registered national securities exchange,
are not included in the OTC Bulletin Board, and are not quoted on any other U.S. quotation medium or inter-dealer quotation system,
an amount equal to the same fraction of the average of the closing bid and asked prices as furnished by any FINRA member firm selected
from time to time by the Company for that purpose at the close of business on the business day that next precedes the day of exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(g) </B>Whenever the Warrant Price
then in effect is adjusted as herein provided, the Company shall mail to each holder of the Warrants at such holder&rsquo;s address
as it shall appear on the books of the Company a statement setting forth the adjusted Warrant Price then and thereafter effective
under the provisions hereof, together with the facts, in reasonable detail, upon which such adjustment is based.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.5 Notice To Warrantholders. </B>In
case the Company shall (a) effect any dividend or distribution described in Section 3.4(b), (b) effect any Reorganization Event,
(c) make any distribution on or in respect of the Common Stock in connection with the dissolution, liquidation or winding up of
the Company, or (d) reduce the then current Warrant Price pursuant to Section 3.4(d), then the Company shall mail to each holder
of Warrants at such holder&rsquo;s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the
applicable date hereinafter specified, a notice stating (x) the record date for such dividend or distribution, or, if a record
is not to be taken, the date as of which the holders of record of Common Stock that will be entitled to such dividend or distribution
are to be determined, (y) the date on which such Reorganization Event, dissolution, liquidation or winding up is expected to become
effective, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares
of Common Stock for securities or other property deliverable upon such Reorganization Event, dissolution, liquidation or winding
up, or (z) the first date on which the then current Warrant Price shall be reduced pursuant to Section 3.4(d). No failure to mail
such notice nor any defect therein or in the mailing thereof shall affect any such transaction or any adjustment in the Warrant
Price required by Section 3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>3.6 [<I>If The Warrants Are Subject
To Acceleration By The Company, Insert</I> &mdash; Acceleration Of Warrants By The Company. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>At any time on or after [&bull;],
the Company shall have the right to accelerate any or all Warrants at any time by causing them to expire at the close of business
on the day next preceding a specified date (the &ldquo;<B><I>Acceleration Date</I></B>&rdquo;), if the Market Price (as hereinafter
defined) of the Common Stock equals or exceeds [&bull;] percent ([&bull;]%) of the then effective Warrant Price on any twenty Trading
Days (as hereinafter defined) within a period of thirty consecutive Trading Days ending no more than five Trading Days prior to
the date on which the Company gives notice to the Warrant Agent of its election to accelerate the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>&ldquo;<B><I>Market Price</I></B>&rdquo;
for each Trading Day shall be, if the Common Stock is listed or admitted to trading on any registered national securities exchange,
the last reported sale price, regular way (or, if no such price is reported, the average of the reported closing bid and asked
prices, regular way) of Common Stock, in either case as reported on the principal registered national securities exchange on which
the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any registered national securities
exchange, the average of the closing high bid and low asked prices as reported on the OTC Bulletin Board operated by FINRA, or
if not available on the OTC Bulletin Board, then the average of the closing high bid and low asked prices as reported on any other
U.S. quotation medium or inter-dealer quotation system, or if on any such date the shares of Common Stock are not listed or admitted
to trading on a registered national securities exchange, are not included in the OTC Bulletin Board, and are not quoted on any
other U.S. quotation medium or inter-dealer quotation system, the average of the closing bid and asked prices as furnished by any
FINRA member firm selected from time to time by the Company for that purpose. &ldquo;<B><I>Trading Day</I></B>&rdquo; shall be
each Monday through Friday, other than any day on which securities are not traded in the system or on the exchange that is the
principal market for the Common Stock, as determined by the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In the event of an acceleration
of less than all of the Warrants, the Warrant Agent shall select the Warrants to be accelerated by lot, pro rata or in such other
manner as it deems, in its discretion, to be fair and appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>Notice of an acceleration specifying
the Acceleration Date shall be sent by mail first class, postage prepaid, to each registered holder of a Warrant Certificate representing
a Warrant accelerated at such holder&rsquo;s address appearing on the books of the Warrant Agent not more than sixty days nor less
than thirty days before the Acceleration Date. Such notice of an acceleration also shall be given no more than twenty days, and
no less than ten days, prior to the mailing of notice to registered holders of Warrants pursuant to this Section 3.6, by publication
at least once in a newspaper of general circulation in the City of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Any Warrant accelerated may
be exercised until [&bull;] p.m., [City] time, on the business day next preceding the Acceleration Date. The Warrant Price shall
be payable as provided in Section 2.]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE 4 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.1 Exchange And Transfer Of Warrant
Certificates. </B>Upon surrender at the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may
be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered
in whole or in part; provided that such other Warrant Certificates evidence Warrants for the same aggregate number of Warrant Securities
as the Warrant Certificates so surrendered. The Warrant Agent shall keep, at its corporate trust office, books in which, subject
to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding
Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate trust office for exchange
or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written
instructions for transfer, all in form satisfactory to the Company and the Warrant Agent. No service charge shall be made for any
exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient to cover
any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange or registration of
transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an authorized officer
of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto a Warrant Certificate or
Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be required to effect
any exchange or registration of transfer which will result in the issuance of a Warrant Certificate evidencing a Warrant for a
fraction of a Warrant Security or a number of Warrants for a whole number of Warrant Securities and a fraction of a Warrant Security.
All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be the valid obligations
of the Company, evidencing the same obligations and entitled to the same benefits under this Agreement as the Warrant Certificate
surrendered for such exchange or registration of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.2 Treatment Of Holders Of Warrant
Certificates. </B>The Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate
as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced
thereby, any notice to the contrary notwithstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>4.3 Cancellation Of Warrant Certificates.
</B>Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall,
if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the
Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this
Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver
to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.</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>ARTICLE 5 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.1 Warrant Agent. </B>The Company hereby
appoints [&bull;] as Warrant Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject
to the conditions herein set forth, and [&bull;] hereby accepts such appointment. The Warrant Agent shall have the powers and authority
granted to and conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf
of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers
and authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.2 Conditions Of Warrant Agent&rsquo;s
Obligations. </B>The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the
following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant
Certificates shall be subject:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) Compensation And Indemnification.
</B>The Company agrees promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered
by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees)
incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder
by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability
or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in
connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim
of such liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) Agent For The Company. </B>In acting
under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the
Company and does not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant Certificates
or beneficial owners of Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) Counsel. </B>The Warrant Agent
may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in accordance with the advice of such counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) Documents. </B>The Warrant Agent
shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant
Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it
to be genuine and to have been presented or signed by the proper parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) Certain Transactions. </B>The Warrant
Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same
rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it
or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee
or agent for, any committee or body of holders of Warrant Securities or other obligations of the Company as freely as if it were
not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as
trustee under any indenture to which the Company is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(f) No Liability For Interest. </B>Unless
otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by
it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(g) No Liability For Invalidity. </B>The
Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except
as to the Warrant Agent&rsquo;s countersignature thereon).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(h) No Responsibility For Representations.
</B>The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates
(except as to the Warrant Agent&rsquo;s countersignature thereon), all of which are made solely by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(i) No Implied Obligations. </B>The
Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth
and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The
Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability,
the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be
accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by
the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds
of the Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the
performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any
written demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality
of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except
as provided in Section 6.2 hereof, to make any demand upon the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>5.3 Resignation, Removal And Appointment
Of Successors. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(a) </B>The Company agrees, for the
benefit of the holders from time to time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder
until all the Warrants have been exercised or are no longer exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(b) </B>The Warrant Agent may at any
time resign as agent by giving written notice to the Company of such intention on its part, specifying the date on which its desired
resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice
is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an
instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall become
effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor
Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise
corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under
Section 5.2(a) shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(c) </B>In case at any time the Warrant
Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or
shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable
Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver,
custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs,
or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as
they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court having
jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy
laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree
or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator,
assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer
shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation,
winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument
in writing, filed with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance
by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(d) </B>Any successor Warrant Agent
appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment
hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all
the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally
named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon
become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies,
securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(e) </B>Any corporation into which
the Warrant Agent hereunder may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation
to which the Warrant Agent shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent,
provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution
or filing of any paper or any further act on the part of any of the parties hereto.</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>ARTICLE 6 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.1 Amendment. </B>This Agreement may
be amended by the parties hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect
to matters or questions arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided
that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.2 Notices And Demands To The Company
And Warrant Agent. </B>If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant
Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.3 Addresses. </B>Any communication
from the Company to the Warrant Agent with respect to this Agreement shall be addressed to [&bull;], Attention: [&bull;] and any
communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to WidePoint Corporation,
7926 Jones Branch Drive, Suite 520, McLean, Virginia 22102, Attention: [&bull;] (or such other address as shall be specified in
writing by the Warrant Agent or by the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.4 Governing Law. </B>This Agreement
and each Warrant Certificate issued hereunder 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; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.5 Delivery Of Prospectus. </B>The
Company shall furnish to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of
1933, as amended, relating to the Warrant Securities deliverable upon exercise of the Warrants (the &ldquo;<B><I>Prospectus</I></B>&rdquo;),
and the Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant
Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Securities issued upon such exercise,
a Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy
of such Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.6 Obtaining Of Governmental Approvals.
</B>The Company will from time to time take all action which may be necessary to obtain and keep effective any and all permits,
consents and approvals of governmental agencies and authorities and securities act filings under United States Federal and state
laws (including without limitation a registration statement in respect of the Warrants and Warrant Securities under the Securities
Act of 1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the
Warrant Securities issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the
expiration of the period during which the Warrants are exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.7 Persons Having Rights Under Warrant
Agreement. </B>Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of
the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.8 Headings. </B>The descriptive headings
of the several Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning
or construction of any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.9 Counterparts. </B>This Agreement
may be executed in any number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts
shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>6.10 Inspection Of Agreement. </B>A
copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent
for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate
for inspection by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">n</FONT>
W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">itness</FONT> W<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">hereof</FONT>,</B>
the parties hereto have caused this Agreement to be duly executed all as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION</B>, as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COUNTERSIGNED</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<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">[<FONT STYLE="font-variant: small-caps">Signature
Page to</FONT> WidePoint Corporation <FONT STYLE="font-variant: small-caps">Form</FONT> <FONT STYLE="font-variant: small-caps">of</FONT>
<FONT STYLE="font-variant: small-caps">Common Stock Warrant Agreement</FONT>]</P>

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


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<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>E<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">xhibit</FONT>
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>FORM OF WARRANT CERTIFICATE </B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Form of Legend if Warrants are not immediately exercisable.]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">[Prior to [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants evidenced by this Warrant Certificate cannot be exercised.]</FONT></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; text-align: center">EXERCISABLE ONLY IF COUNTERSIGNED BY THE
WARRANT AGENT AS PROVIDED HEREIN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">VOID AFTER [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
P.M., [City] time, ON [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>].</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>WIDEPOINT CORPORATION</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMMON STOCK, PAR VALUE $0.001 PER SHARE
</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">No. [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This certifies that or registered assigns
is the registered owner of the above indicated number of Warrants, each Warrant entitling such owner to purchase, at any time [after
[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, [on [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
and] on or before [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] p.m., [City] time, on [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
shares of Common Stock, par value $0.001 per share (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;), of WidePoint Corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;) on the following basis: during the period from [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>],
through and including [&bull;], the exercise price per Warrant Security will be $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>],
subject to adjustment as provided in the Warrant Agreement (as hereinafter defined) (the &ldquo;<B><I>Warrant Price</I></B>&rdquo;).
The Holder may exercise the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying
in full, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing
House funds] [by bank wire transfer in immediately available funds], the Warrant Price for each Warrant Security with respect to
which this Warrant is exercised to the Warrant Agent (as hereinafter defined) and by surrendering this Warrant Certificate, with
the purchase form on the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor
as warrant agent (the &ldquo;<B><I>Warrant Agent</I></B>&rdquo;), which is, on the date hereof, at the address specified on the
reverse hereof, and upon compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter
defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The term &ldquo;<B><I>Holder</I></B>&rdquo;
as used herein shall mean the person in whose name at the time this Warrant Certificate shall be registered upon the books to be
maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Warrants evidenced by this Warrant
Certificate may be exercised to purchase a whole number of Warrant Securities in registered form. Upon any exercise of fewer than
all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant Certificate
evidencing Warrants for the number of Warrant Securities remaining unexercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate is issued under
and in accordance with the Warrant Agreement dated as of [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] (the &ldquo;<B><I>Warrant
Agreement</I></B>&rdquo;), between the Company and the Warrant Agent and is subject to the terms and provisions contained in the
Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies
of the Warrant Agreement are on file at the above-mentioned office of the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Transfer of this Warrant Certificate may
be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant Agent by the registered
owner or such owner&rsquo;s assigns, in the manner and subject to the limitations provided in the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">After countersignature by the Warrant Agent
and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at the corporate trust office
of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate number of Warrant Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not entitle
the Holder hereof to any of the rights of a holder of the Warrant Securities, including, without limitation, the right to receive
payments of dividends or distributions, if any, on the Warrant Securities (except to the extent set forth in the Warrant Agreement)
or to exercise any voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Reference is hereby made to the further
provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Warrant Certificate shall not be valid
or obligatory for any purpose until countersigned by the Warrant Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>IN WITNESS WHEREOF</B>, the Company
has caused this Warrant to be executed in its name and on its behalf by the facsimile signatures of its duly authorized officers.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>WIDEPOINT CORPORATION</B>, as Company</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COUNTERSIGNED</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[</B><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT><B>],</B> as Warrant Agent</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>ATTEST:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<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-align: center"><B>[REVERSE OF WARRANT CERTIFICATE] </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Instructions for Exercise of Warrant)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">To exercise any Warrants evidenced hereby
for Warrant Securities (as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in cash
or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available
funds], the Warrant Price in full for Warrants exercised, to [&bull;] [address of Warrant Agent], Attention: [&bull;], which payment
must specify the name of the Holder and the number of Warrants exercised by such Holder. In addition, the Holder must complete
the information required below and present this Warrant Certificate in person or by mail (certified or registered mail is recommended)
to the Warrant Agent at the appropriate address set forth above. This Warrant Certificate, completed and duly executed, must be
received by the Warrant Agent within five business days of the payment.</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">(To be executed upon exercise of Warrants)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The undersigned hereby irrevocably elects
to exercise [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] Warrants, evidenced by this Warrant Certificate, to purchase
[&bull;] shares of the Common Stock, par value $0.001 per share (the &ldquo;<B><I>Warrant Securities</I></B>&rdquo;), of WidePoint
Corporation and represents that he has tendered payment for such Warrant Securities, in lawful money of the United States of America,
[in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available
funds], to the order of WidePoint Corporation, c/o [insert name and address of Warrant Agent], in the amount of $[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
in accordance with the terms hereof. The undersigned requests that said Warrant Securities be in fully registered form in the authorized
denominations, registered in such names and delivered all as specified in accordance with the instructions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If the number of Warrants exercised is
less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants
for the number of Warrant Securities remaining unexercised be issued and delivered to the undersigned unless otherwise specified
in the instructions below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Please Print</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">(Insert Social Security or Other Identifying Number of Holder)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 15%"><FONT STYLE="font-size: 10pt">Signature<BR>
Guaranteed: </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 30%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Signature must conform in all respects to name of holder as
specified on the face of this Warrant Certificate and must bear a signature guarantee by a FINRA member firm).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Warrant may be exercised at the following addresses:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[Instructions as to form and delivery of Warrant Securities
and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Securities remaining unexercised&mdash;complete
as appropriate.]</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-align: center"><B>ASSIGNMENT </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">[Form of assignment to be executed if Warrant
Holder desires to transfer Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>F<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">or</FONT>
V<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">alue</FONT> R<FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">eceived</FONT>,</B>
[<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>] hereby sells, assigns and transfers unto:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">(Please print name and address including zip code)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid"><FONT STYLE="font-size: 10pt">Please print Social Security or other identifying number</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the right represented by the within Warrant to purchase shares
of [Title of Warrant Securities] of WidePoint Corporation to which the within Warrant relates and appoints attorney [<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT>]
to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Signature</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">(Signature must conform in all respects
to name of holder as specified on the face of the Warrant)</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<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>



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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.8
<SEQUENCE>7
<FILENAME>v366522_ex4-8.htm
<DESCRIPTION>EXHIBIT 4.8
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<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 4.8</B></P>

<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: center">WIDEPOINT CORPORATION</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">[&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: center">as Purchase Contract Agent</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">STOCK PURCHASE CONTRACT AGREEMENT</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 ___________, 20[__]</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: 0.5in">STOCK PURCHASE CONTRACT AGREEMENT, dated
as of __________, 20[___], between WIDEPOINT CORPORATION, a Delaware corporation (the &quot;COMPANY&quot;), and [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
an __________ banking corporation, acting as purchase contract agent for the Holders of Securities (as defined herein) from time
to time (the &quot;PURCHASE CONTRACT AGENT&quot;).</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">RECITALS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has duly authorized the execution
and delivery of this Agreement and the Certificates evidencing the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All things necessary to make the Purchase
Contracts, when the Certificates are executed by the Company and authenticated, executed on behalf of the Holders and delivered
by the Purchase Contract Agent, as provided in this Agreement, the valid obligations of the Company, and to constitute these presents
a valid agreement of the Company, in accordance with its terms, have been done. For and in consideration of the premises and the
purchase of the Securities by the Holders thereof, it is mutually agreed as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE 1</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">DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATIONS</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">SECTION 1.01. DEFINITIONS.</P>

<P STYLE="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">For all purposes of this Agreement, except
as otherwise expressly provided or unless the context otherwise requires:</P>

<P STYLE="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">(a) the terms defined in this Article have
the meanings assigned to them in this Article and include the plural as well as the singular, and nouns and pronouns of the masculine
gender include the feminine and neuter genders;</P>

<P STYLE="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">(b) all accounting terms not otherwise defined
herein have the meanings assigned to them in accordance with generally accepted accounting principles in the United States;</P>

<P STYLE="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">(c) the words &quot;herein,&quot; &quot;hereof&quot;
and &quot;hereunder&quot; and other words of similar import refer to this Agreement as a whole and not to any particular Article,
Section, Exhibit or other subdivision;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) the following terms have the meanings
given to them in the Declaration: (i) Applicable Ownership Interest; (ii) Applicable Principal Amount; (iii) Guarantee; (iv) Primary
Treasury Dealer; (v) Pro Rata, (vi) Quotation Agent; (vii) Redemption Amount; (viii) Redemption Price; (ix) Remarketing, (x) Reset
Rate, (xi) Tax Event Redemption, (xii) Tax Event Redemption Date; (xiii) Two-Year Benchmark Treasury Rate; and (xiv) Treasury Portfolio;
and</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: 0.5in">(e) the following terms have the meanings
given to them in this Section 1.01(e):</P>

<P STYLE="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">&quot;ACT&quot; has the meaning, with respect
to any Holder, set forth in Section 1.04.</P>

<P STYLE="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">&quot;AFFILIATE&quot; of any specified Person
means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For the purposes of this definition, &quot;control&quot; when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms &quot;controlling&quot; and &quot;controlled&quot; have meanings correlative
to the foregoing.</P>

<P STYLE="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">&quot;AGREEMENT&quot; means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more agreements supplemental hereto
entered into pursuant to the applicable provisions hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;APPLICABLE MARKET VALUE&quot; has
the meaning set forth in Section 5.01.</P>

<P STYLE="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">&quot;APPLICANTS&quot; has the meaning set
forth in Section 7.12(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">&quot;BANKRUPTCY CODE&quot; means title
11 of the United States Code, or any other law of the United States that from time to time provides a uniform system of bankruptcy
laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;BENEFICIAL OWNER&quot; means, with
respect to a Book-Entry Interest, a Person who is the beneficial owner of such Book-Entry Interest as reflected on the books of
the Depositary or on the books of a Person maintaining an account with such Depositary (directly as a Depositary Participant or
as an indirect participant, in each case in accordance with the rules of such Depositary).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;BOARD OF DIRECTORS&quot; means the
board of directors of the Company or a duly authorized committee of that board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;BOARD RESOLUTION&quot; means one or
more resolutions of the Board of Directors, a copy of which has been certified by the Secretary or an Assistant Secretary of the
Company, to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification
and delivered to the Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;BOOK-ENTRY INTEREST&quot; means a
beneficial interest in a Global Certificate, registered in the name of a Depositary or a nominee thereof, ownership and transfers
of which shall be maintained and made through book entries by such Depositary as described in Section 3.06.</P>

<P STYLE="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">&quot;BUSINESS DAY&quot; means any day other
than a Saturday or Sunday or a day on which banking institutions in New York City, New York, or Chicago, Illinois are authorized
or required by law or executive order to remain closed or a day on which the Indenture Trustee or the Property Trustee is closed
for business; provided that for purposes of the second paragraph of Section 1.12 only, the term &quot;Business Day&quot; shall
also be deemed to exclude any day on which trading on the New York Stock Exchange, Inc. is closed or suspended.</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: 0.5in">&quot;CASH SETTLEMENT&quot; has the meaning
set forth in Section 5.02(a)(i).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;CERTIFICATE&quot; means a Stock Purchase
Units Certificate or a Treasury Stock Purchase Units Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;CLEARING AGENCY&quot; means an organization
registered as a &quot;Clearing Agency&quot; pursuant to Section 17A of the Exchange Act that is acting as a depositary for the
Securities and in whose name, or in the name of a nominee of that organization, shall be registered a Global Certificate and which
shall undertake to effect book-entry transfers and pledges of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;CLOSING PRICE&quot; has the meaning
set forth in Section 5.01.</P>

<P STYLE="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">&quot;CODE&quot; means the Internal Revenue
Code of 1986, as amended.</P>

<P STYLE="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">&quot;COLLATERAL&quot; has the meaning set
forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;COLLATERAL ACCOUNT&quot; has the meaning
set forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;COLLATERAL AGENT&quot; means [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
as Collateral Agent under the Pledge Agreement until a successor Collateral Agent shall have become such pursuant to the applicable
provisions of the Pledge Agreement, and thereafter &quot;Collateral Agent&quot; shall mean the Person who is then the Collateral
Agent thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;COLLATERAL SUBSTITUTION&quot; has
the meaning set forth in Section 3.13.</P>

<P STYLE="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">&quot;COMMON STOCK&quot; means the WidePoint
Corporation, common stock, par value $0.01.</P>

<P STYLE="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">&quot;COMPANY&quot; means the Person named
as the &quot;COMPANY&quot; in the first paragraph of this instrument until a successor shall have become such pursuant to the applicable
provision of this Agreement, and thereafter &quot;Company&quot; shall mean such successor.</P>

<P STYLE="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">&quot;CONSTITUENT PERSON&quot; has the meaning
set forth in Section 5.04(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">&quot;CORPORATE TRUST OFFICE&quot; means
the principal corporate trust office of the Purchase Contract Agent at which, at any particular time, its corporate trust business
shall be administered, which office at the date hereof is located at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
Attention: Corporate Trust Department.</P>

<P STYLE="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">&quot;COUPON RATE&quot; means the percentage
rate per annum at which each [Subordinated] Note will bear interest initially and, on and after _______________, the Reset Rate.</P>

<P STYLE="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">&quot;CURRENT MARKET PRICE&quot; has the
meaning set forth in Section 5.04(a)(8).</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: 0.5in">&quot;DECLARATION&quot; means the Declaration
of Trust, dated as of ___________, 20[__], among the Company as sponsor, the trustees named therein and the holders from time to
time of individual beneficial interests in the assets of the Trust.</P>

<P STYLE="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">&quot;DEPOSITARY&quot; means a clearing
agency registered under the Exchange Act that is designated to act as Depositary for the Securities as contemplated bySections
3.06, 3.07, 3.08 and 3.09.</P>

<P STYLE="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">&quot;DEPOSITARY PARTICIPANT&quot; means
a broker, dealer, bank, other financial institution or other Person for whom from time to time the Depositary effects book entry
transfers and pledges of securities deposited with the Depositary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;DTC&quot; means The Depository Trust
Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;EARLY SETTLEMENT&quot; has the meaning
set forth in Section 5.07(a).</P>

<P STYLE="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">&quot;EARLY SETTLEMENT AMOUNT&quot; has
the meaning set forth in Section 5.07(a).</P>

<P STYLE="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">&quot;EARLY SETTLEMENT DATE&quot; has the
meaning set forth in Section 5.07(a).</P>

<P STYLE="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">&quot;EARLY SETTLEMENT RATE&quot; has the
meaning set forth in Section 5.07(c).</P>

<P STYLE="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">&quot;EARLY SETTLEMENT WEEK&quot; has the
meaning set forth in Section 5.04(b)(2).</P>

<P STYLE="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">&quot;ERISA&quot; means the Employee Retirement
Income Security Act of 1974, as amended.</P>

<P STYLE="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">&quot;EXCHANGE ACT&quot; means the Securities
Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time, and the rules and regulations
promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;EXPIRATION DATE&quot; has the meaning
set forth in Section 1.04(e).</P>

<P STYLE="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">&quot;EXPIRATION TIME&quot; has the meaning
set forth in Section 5.04(a)(6).</P>

<P STYLE="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">&quot;FAILED REMARKETING&quot; has the meaning
set forth in Section 5.02(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">&quot;GLOBAL CERTIFICATE&quot; means a Certificate
that evidences all or part of the Securities and is registered in the name of a Clearing Agency or a nominee thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;GUARANTEE means the Guarantee Agreement
dated as of ___________, 20[__] between the Company, as guarantor, and the Trust.</P>

<P STYLE="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">&quot;HOLDER&quot; means, with respect to
a Security, the Person in whose name the Security evidenced by a Certificate is registered in the Security Register; provided,
however, that in determining whether the Holders of the requisite number of Securities have voted on any matter, then for the purpose
of such determination only (and not for any other purpose hereunder), if the Security remains in the form of one or more Global
Certificates and if the Depositary which is the registered holder of such Global Certificate has sent an omnibus proxy assigning
voting rights to the Depositary Participants to whose accounts the Securities are credited on the record date, the term &quot;HOLDER&quot;
shall mean such Depositary Participant acting at the direction of the Beneficial Owners.</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: 0.5in">&quot;INDENTURE&quot; means the Indenture,
dated as of _____________, between the Company and the Indenture Trustee (including any provisions of the TIA that are deemed incorporated
therein), pursuant to which the [Subordinated] Notes will be issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;INDENTURE TRUSTEE&quot; means ________
Bank, a _____ banking corporation, as trustee under the Indenture, or any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;ISSUER ORDER&quot; or &quot;ISSUER
REQUEST&quot; means a written order or request signed in the name of the Company by its Chairman of the Board, its President or
one of its Vice Presidents, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered
to the Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;NON-ELECTING SHARE&quot; has the meaning
set forth in Section 5.04(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">&quot;NYSE&quot; has the meaning set forth
in Section 5.01.</P>

<P STYLE="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">&quot;OFFICERS' CERTIFICATE&quot; means
a certificate signed by the Chairman of the Board, its President or one of its Vice Presidents, and by the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary of the Company, and delivered to the Purchase Contract Agent. Any Officers'
Certificate delivered with respect to compliance with a condition or covenant provided for in this Agreement shall include:</P>

<P STYLE="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">(i) a statement that each officer signing
the Officers' Certificate has read the covenant or condition and the definitions relating thereto;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) a brief statement of the nature and
scope of the examination or investigation undertaken by each officer in rendering the Officers' Certificate;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii) a statement that, in the opinion of
each such officer, each such officer has made such examination or investigation as is necessary to enable such officer to express
an informed opinion as to whether or not such covenant or condition has been complied with; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv) a statement as to whether, in the opinion
of each such officer, such condition or covenant has been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;OPINION OF COUNSEL&quot; means a written
opinion of counsel, who may be counsel to the Company (and who may be an employee of the Company), and who shall be reasonably
acceptable to the Purchase Contract Agent. An opinion of counsel may rely on certificates as to matters of fact.</P>

<P STYLE="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">&quot;OUTSTANDING SECURITIES&quot; means,
with respect to any Security and as of the date of determination, all Securities evidenced by Certificates theretofore authenticated,
executed and delivered under this Agreement, except:</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">(i) If a Termination Event has occurred, (a)
Treasury Stock Purchase Units and (b) Stock Purchase Units for which the underlying [Subordinated] Notes have been theretofore
deposited with the Purchase Contract Agent in trust for the Holders of such Stock Purchase Units;</P>

<P STYLE="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">(ii) Securities evidenced by Certificates
theretofore cancelled by the Purchase Contract Agent or delivered to the Purchase Contract Agent for cancellation or deemed cancelled
pursuant to the provisions of this Agreement; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii) Securities evidenced by Certificates
in exchange for or in lieu of which other Certificates have been authenticated, executed on behalf of the Holder and delivered
pursuant to this Agreement, other than any such Certificate in respect of which there shall have been presented to the Purchase
Contract Agent proof satisfactory to it that such Certificate is held by a protected purchaser in whose hands the Securities evidenced
by such Certificate are valid obligations of the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">PROVIDED, HOWEVER, that in determining whether
the Holders of the requisite number of the Securities have given any request, demand, authorization, direction, notice, consent
or waiver hereunder, Securities owned by the Company or any Affiliate of the Company shall be disregarded and deemed not to be
Outstanding Securities, except that, in determining whether the Purchase Contract Agent shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver, only Securities that a Responsible Officer of the Purchase
Contract Agent actually knows to be so owned shall be so disregarded. Securities so owned that have been pledged in good faith
may be regarded as Outstanding Securities if the pledgee establishes to the satisfaction of the Purchase Contract Agent the pledgee's
right so to act with respect to such Securities and that the pledgee is not the Company or any Affiliate of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PAYMENT DATE&quot; means each ____________,
___________, ___________ and ___________, commencing ___________, 20[___].</P>

<P STYLE="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">&quot;PERMITTED INVESTMENTS&quot; has the
meaning set forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PERSON&quot; means a legal person,
including any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability
company, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity of
whatever nature.</P>

<P STYLE="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">&quot;PLAN&quot; means an employee benefit
plan that is subject to ERISA, a plan or individual retirement account that is subject to Section 4975 of the Code or any entity
whose assets are considered assets of any such plan.</P>

<P STYLE="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">&quot;PLEDGE&quot; means the pledge under
the Pledge Agreement of the Preferred Securities, the [Subordinated] Notes, the Treasury Securities or the appropriate Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, in each case constituting
a part of the Securities.</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: 0.5in">&quot;PLEDGE AGREEMENT&quot; means the Pledge
Agreement, dated as of __________, 20[___], among the Company, the Collateral Agent, the Securities Intermediary and the Purchase
Contract Agent, on its own behalf and as attorney-in-fact for the Holders from time to time of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PLEDGED [SUBORDINATED] NOTES&quot;
has the meaning set forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PLEDGED PREFERRED SECURITIES&quot;
has the meaning set forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PREDECESSOR CERTIFICATE&quot; means
a Predecessor Stock Purchase Units Certificate or a Predecessor Treasury Stock Purchase Units Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PREDECESSOR STOCK PURCHASE UNITS CERTIFICATE&quot;
of any particular Stock Purchase Units Certificate means every previous Stock Purchase Units Certificate evidencing all or a portion
of the rights and obligations of the Company and the Holder under the Stock Purchase Units evidenced thereby; and, for the purposes
of this definition, any Stock Purchase Units Certificate authenticated and delivered under Section 3.10 in exchange for or in lieu
of a mutilated, destroyed, lost or stolen Stock Purchase Units Certificate shall be deemed to evidence the same rights and obligations
of the Company and the Holder as the mutilated, destroyed, lost or stolen Stock Purchase Units Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PREDECESSOR TREASURY STOCK PURCHASE
UNITS CERTIFICATE&quot; of any particular Treasury Stock Purchase Units Certificate means every previous Treasury Stock Purchase
Units Certificate evidencing all or a portion of the rights and obligations of the Company and the Holder under the Treasury Stock
Purchase Units evidenced thereby; and, for the purposes of this definition, any Treasury Stock Purchase Units Certificate authenticated
and delivered under Section 3.10 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Treasury Stock Purchase Units
Certificate shall be deemed to evidence the same rights and obligations of the Company and the Holder as the mutilated, destroyed,
lost or stolen Treasury Stock Purchase Units Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PREFERRED SECURITIES&quot; means the
Preferred Securities of the Trust, each having a stated liquidation amount of $25, representing preferred undivided beneficial
interests in the assets of the Trust.</P>

<P STYLE="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">&quot;PROCEEDS&quot; has the meaning set
forth in Section 1.01(f) of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PROPERTY TRUSTEE&quot; means [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
as initial property trustee under the Declaration, or any successors thereto that is a financial institution unaffiliated with
the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PROSPECTUS&quot; means the prospectus
relating to the delivery of shares of Common Stock in connection with an Early Settlement under Section 5.07 or an early settlement
of Purchase Contracts during the Early Settlement Week under Section 5.04(b)(2), in the form in which first filed, or transmitted
for filing, with the Commission after the effective date of the Registration Statement pursuant to Rule 424(b) under the Securities
Act, including the documents incorporated by reference therein as of the date of such Prospectus.</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: 0.5in">&quot;PURCHASE CONTRACT&quot; means, with
respect to any Security, the contract forming a part of such Security and obligating the Company to (i) sell, and the Holder of
such Security to purchase, shares of Common Stock and (ii) pay the Holder thereof Purchase Contract Payments, in each case on the
terms and subject to the conditions set forth in Article Five hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PURCHASE CONTRACT AGENT&quot; means
the Person named as the &quot;PURCHASE CONTRACT AGENT&quot; in the first paragraph of this Agreement until a successor Purchase
Contract Agent shall have become such pursuant to the applicable provisions of this Agreement, and thereafter &quot;PURCHASE CONTRACT
AGENT&quot; shall mean such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;PURCHASE CONTRACT PAYMENTS&quot; means
the payments payable by the Company on the Payment Dates in respect of each Purchase Contract, at a rate per year of____% of the
Stated Amount per Purchase Contract.</P>

<P STYLE="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">&quot;PURCHASE CONTRACT SETTLEMENT DATE&quot;
means _____________.</P>

<P STYLE="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">&quot;PURCHASE CONTRACT SETTLEMENT FUND&quot;
has the meaning set forth in Section 5.03.</P>

<P STYLE="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">&quot;PURCHASE PRICE&quot; has the meaning
set forth in Section 5.01.</P>

<P STYLE="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">&quot;PURCHASED SHARES&quot; has the meaning
set forth in Section 5.04(a)(6).</P>

<P STYLE="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">&quot;RECORD DATE&quot; for any distribution
and Purchase Contract Payment payable on any Payment Date means, as to any Global Certificate, the Business Day next preceding
such Payment Date, and as to any other Certificate, the fifteenth Business Day prior to such Payment Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;REFERENCE DEALER&quot; means a dealer
engaged in trading of convertible securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;REFERENCE PRICE&quot; has the meaning
set forth in Section 5.01.</P>

<P STYLE="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">&quot;REGISTRATION STATEMENT&quot; means
a registration statement under the Securities Act prepared by the Company covering, inter alia, the delivery by the Company of
the shares of Common Stock in connection with an Early Settlement under Section 5.07 or an early settlement of Purchase Contracts
during the Early Settlement Week under Section 5.04(b)(2), including all exhibits thereto and the documents incorporated by reference
in the prospectus contained in such registration statement, and any post-effective amendments thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;REMARKETING AGENT&quot; has the meaning
set forth in Section 5.02(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">&quot;REMARKETING AGREEMENT&quot; means
the Remarketing Agreement, dated as of ________________, 20[___], between the Company and the Remarketing Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;REORGANIZATION EVENT&quot; has the
meaning set forth in Section 5.04(b).</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: 0.5in">&quot;RESPONSIBLE OFFICER&quot; means, with
respect to the Purchase Contract Agent, any officer of the Purchase Contract Agent assigned by the Purchase Contract Agent to administer
this Purchase Contract Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;SECURITIES ACT&quot; means the Securities
Act of 1933 and any statute successor thereto, in each case as amended from time to time, and the rules and regulations promulgated
thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;SECURITIES INTERMEDIARY&quot; means
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], as Securities Intermediary under the Pledge Agreement
until a successor Securities Intermediary shall have become such pursuant to the applicable provisions of the Pledge Agreement,
and thereafter &quot;Securities Intermediary&quot; shall mean such successor.</P>

<P STYLE="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">&quot;SECURITY&quot; means a Stock Purchase
Unit or a Treasury Stock Purchase Unit, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;SECURITY REGISTER&quot; and &quot;SECURITIES
REGISTRAR&quot; have the respective meanings set forth in Section 3.05.</P>

<P STYLE="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">&quot;SETTLEMENT RATE&quot; has the meaning
set forth in Section 5.01.</P>

<P STYLE="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">&quot;STATED AMOUNT&quot; means $[ ].</P>

<P STYLE="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">&quot;STOCK PURCHASE UNIT&quot; means the
collective rights and obligations of a Holder of a Stock Purchase Units Certificate in respect of a Preferred Security, the [Subordinated]
Notes or an appropriate Applicable Ownership Interest of the Treasury Portfolio, as the case may be, subject in each case to the
Pledge thereof, and the related Purchase Contract; PROVIDED that the appropriate Applicable Ownership Interest (as specified in
clause (B) of the definition of such term) of the Treasury Portfolio shall not be subject to the Pledge.</P>

<P STYLE="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">&quot;STOCK PURCHASE UNITS CERTIFICATE&quot;
means a certificate evidencing the rights and obligations of a Holder in respect of the number of Stock Purchase Units specified
on such certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;[SUBORDINATED] NOTES&quot; means the
series of [Subordinated] Notes issued by the Company under the Indenture and held by the Property Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;TERMINATION DATE&quot; means the date,
if any, on which a Termination Event occurs.</P>

<P STYLE="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">&quot;TERMINATION EVENT&quot; means the
occurrence of any of the following events:</P>

<P STYLE="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">(i) at any time on or prior to the Purchase
Contract Settlement Date, a judgment, decree or court order shall have been entered granting relief under the Bankruptcy Code,
adjudicating the Company to be insolvent, or approving as properly filed a petition seeking reorganization or liquidation of the
Company or any other similar applicable Federal or State law, and, unless such judgment, decree or order shall have been entered
within 60 days prior to the Purchase Contract Settlement Date, such decree or order shall have continued undischarged and unstayed
for a period of 60 days;</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">(ii) a judgment, decree or court order for
the appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of the Company or of its property,
or for the termination or liquidation of its affairs, shall have been entered, and, unless such judgment, decree or order shall
have been entered within 60 days prior to the Purchase Contract Settlement Date, such judgment, decree or order shall have continued
undischarged and unstayed for a period of 60 days; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii) at any time on or prior to the Purchase
Contract Settlement Date, the Company shall file a petition for relief under the Bankruptcy Code, or shall consent to the filing
of a bankruptcy proceeding against it, or shall file a petition or answer or consent seeking reorganization or liquidation under
the Bankruptcy Code or any other similar applicable Federal or State law, or shall consent to the filing of any such petition,
or shall consent to the appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of it or of
its property, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts
generally as they become due.</P>

<P STYLE="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">&quot;THRESHOLD APPRECIATION PRICE&quot;
has the meaning set forth in Section 5.01.</P>

<P STYLE="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">&quot;TIA&quot; means the Trust Indenture
Act of 1939, as amended from time to time, or any successor legislation.</P>

<P STYLE="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">&quot;TRADING DAY&quot; has the meaning
set forth in Section 5.01.</P>

<P STYLE="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">&quot;TREASURY STOCK PURCHASE UNIT&quot;
means, following the substitution of Treasury Securities for Preferred Securities or [Subordinated] Notes as collateral to secure
a Holder's obligations under the Purchase Contract, the collective rights and obligations of a Holder of a Treasury Stock Purchase
Units Certificate in respect of such Treasury Securities, subject to the Pledge thereof, and the related Purchase Contract.</P>

<P STYLE="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">&quot;TREASURY STOCK PURCHASE UNITS CERTIFICATE&quot;
means a certificate evidencing the rights and obligations of a Holder in respect of the number of Treasury Stock Purchase Units
specified on such certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;TREASURY SECURITIES&quot; means zero-coupon
U.S. Treasury Securities (CUSIP No. ______________) which mature on _________________.</P>

<P STYLE="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">&quot;TRUST&quot; means ______________,
a statutory trust formed under the laws of the State of Delaware, or any successor thereto by merger or consolidation.</P>

<P STYLE="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">&quot;UNDERWRITING AGREEMENT&quot; means
the Underwriting Agreement, dated as of __________, 20___, between the Company, the Trust and the Underwriters identified in Schedule
A thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;VICE PRESIDENT&quot; means any vice
president, whether or not designated by a number or a word or words added before or after the title &quot;vice president.&quot;</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">SECTION 1.02. COMPLIANCE CERTIFICATES AND OPINIONS.</P>

<P STYLE="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">(a) Except as otherwise expressly provided
by this Agreement, upon any application or request by the Company to the Purchase Contract Agent to take any action in accordance
with any provision of this Agreement, the Company shall furnish to the Purchase Contract Agent an Officers' Certificate stating
that all conditions precedent, if any, provided for in this Agreement relating to the proposed action have been complied with and,
if requested by the Purchase Contract Agent, an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions
precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing
of such documents is specifically required by any provision of this Agreement relating to such particular application or request,
no additional certificate or opinion need be furnished.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Every certificate or opinion with respect
to compliance with a condition or covenant provided for in this Agreement shall include:</P>

<P STYLE="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">(i) a statement that each individual signing
such certificate or opinion has read such covenant or condition and the definitions herein relating thereto;</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">(ii) a brief statement as to the nature
and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are
based;</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">(iii) a statement that, in the opinion of
each such individual, he or she has made such examination or investigation as is necessary to enable such individual to express
an informed opinion as to whether or not such covenant or condition has been complied with; and</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">(iv) a statement as to whether, in the opinion
of each such individual, such condition or covenant has been complied with.</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">SECTION 1.03. FORM OF DOCUMENTS DELIVERED TO PURCHASE CONTRACT
AGENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) In any case where several matters are
required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified
by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such
Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and
any such Person may certify or give an opinion as to such matters in one or several documents. Any certificate or opinion of an
officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations
by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such factual matters is in the possession of the Company unless
such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with
respect to such matters are erroneous.</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: 0.5in">(b) Where any Person is required to make,
give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this
Agreement, they may, but need not, be consolidated and form one instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.04. ACTS OF HOLDERS; RECORD DATES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by Holders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed
in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments
are delivered to the Purchase Contract Agent and, where it is hereby expressly required, to the Company. Such instrument or instruments
(and the action embodied therein and evidenced thereby) are herein sometimes referred to as the &quot;ACT&quot; of the Holders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall
be sufficient for any purpose of this Agreement and (subject to Section 7.01) conclusive in favor of the Purchase Contract Agent
and the Company, if made in the manner provided in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) The fact and date of the execution by
any Person of any such instrument or writing may be proved in any manner which the Purchase Contract Agent deems sufficient.</P>

<P STYLE="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">(c) The ownership of Securities shall be
proved by the Security Register.</P>

<P STYLE="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">(d) Any request, demand, authorization,
direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security
and the Holder of every Certificate evidencing such Security issued upon the registration of transfer thereof or in exchange therefor
or in lieu thereof in respect of anything done, omitted or suffered to be done by the Purchase Contract Agent or the Company in
reliance thereon, whether or not notation of such action is made upon such Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e) The Company may set any date as a record
date for the purpose of determining the Holders of Outstanding Securities entitled to give, make or take any request, demand, authorization,
direction, notice, consent, waiver or other action provided or permitted by this Agreement to be given, made or taken by Holders
of Securities. If any record date is set pursuant to this paragraph, the Holders of the Outstanding Stock Purchase Units and the
Outstanding Treasury Stock Purchase Units, as the case may be, on such record date, and no other Holders, shall be entitled to
take the relevant action with respect to the Stock Purchase Units or the Treasury Stock Purchase Units, as the case may be, whether
or not such Holders remain Holders after such record date; PROVIDED that no such action shall be effective hereunder unless taken
prior to or on the applicable Expiration Date by Holders of the requisite number of Outstanding Securities on such record date.
Nothing contained in this paragraph shall be construed to prevent the Company from setting a new record date for any action for
which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically
and with no action by any Person be cancelled and be of no effect), and nothing contained in this paragraph shall be construed
to render ineffective any action taken by Holders of the requisite number of Outstanding Securities on the date such action is
taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of
such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Purchase Contract Agent
in writing and to each Holder of Securities in the manner set forth in Section 1.06.</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: 0.5in">(f) With respect to any record date set
pursuant to this Section, the Company may designate any date as the &quot;EXPIRATION DATE&quot; and from time to time may change
the Expiration Date to any earlier or later day; PROVIDED that no such change shall be effective unless notice of the proposed
new Expiration Date is given to the Purchase Contract Agent in writing, and to each Holder of Securities in the manner set forth
in Section 1.06, prior to or on the existing Expiration Date. If an Expiration Date is not designated with respect to any record
date set pursuant to this Section, the Company shall be deemed to have initially designated the 180th day after such record date
as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph.
Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.05. NOTICES.</P>

<P STYLE="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">(a) Any notice or communication is duly
given if in writing and delivered in Person or mailed by first-class mail (registered or certified, return receipt requested),
telecopier (with receipt confirmed) or overnight air courier guaranteeing next day delivery, to the others' address; provided that
notice shall be deemed given to the Purchase Contract Agent only upon receipt thereof:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If to the Purchase Contract Agent:</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">[&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-indent: 1in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telecopier No.:</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">Attention:</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 to the Company:</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">WidePoint Corporation</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">[&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-indent: 1in">&nbsp;</P>

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


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    <!-- Field: /Page -->

<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">[&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-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telecopier No.:</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">Attention:</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: 0.5in">with a copy to:</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">[&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-indent: 1in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If to the Collateral Agent:</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">[&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-indent: 1in">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telecopier No.:</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">Attention:</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: 0.5in">If to the Property Trustee:</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">[&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-indent: 1in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telecopier No.:</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">Attention:</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: 0.5in">If to the Indenture Trustee:</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">[&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-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<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">[&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-indent: 1in">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Telecopier No.:</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">Attention:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.06. NOTICE TO HOLDERS; WAIVER.</P>

<P STYLE="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">(a) Where this Agreement provides for notice
to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid, to each Holder affected by such event, at its address as it appears in the Security Register,
not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where
notice to Holders is given by mail, Neither the failure to mail such notice, nor any defect in any notice so mailed to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Agreement provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and
such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Purchase Contract Agent,
but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.</P>

<P STYLE="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">(b) In case by reason of the suspension
of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification
as shall be made with the approval of the Purchase Contract Agent shall constitute a sufficient notification for every purpose
hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.07. EFFECT OF HEADINGS AND TABLE OF CONTENTS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Article and Section headings herein
and the Table of Contents are for convenience only and shall not affect the construction hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.08. SUCCESSORS AND ASSIGNS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All covenants and agreements in this Agreement
by the Company and the Purchase Contract Agent shall bind their respective successors and assigns, whether so expressed or not.</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">SECTION 1.09. SEPARABILITY CLAUSE.</P>

<P STYLE="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">In case any provision in this Agreement
or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
hereof and thereof shall not in any way be affected or impaired thereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.10. BENEFITS OF AGREEMENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing contained in this Agreement or in
the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and,
to the extent provided hereby, the Holders, any benefits or any legal or equitable right, remedy or claim under this Agreement.
The Holders from time to time shall be beneficiaries of this Agreement and shall be bound by all of the terms and conditions hereof
and of the Securities evidenced by their Certificates by their acceptance of delivery of such Certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.11. GOVERNING LAW.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.12. LEGAL HOLIDAYS.</P>

<P STYLE="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">(a) In any case where any Payment Date shall
not be a Business Day (notwithstanding any other provision of this Agreement or the Securities), Purchase Contract Payments or
other distributions shall not be paid on such date, but Purchase Contract Payments or such other distributions shall be paid on
the next succeeding Business Day with the same force and effect as if made on such Payment Date, PROVIDED that no interest shall
accrue or be payable by the Company or to any Holder for the period from and after any such Payment Date, except that, if such
next succeeding Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business
Day with the same force and effect as if made on such Payment Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) In any case where any Purchase Contract
Settlement Date or Early Settlement Date shall not be a Business Day (notwithstanding any other provision of this Agreement or
the Securities) Purchase Contracts shall not be performed and Early Settlement shall not be effected on such date, but Purchase
Contracts shall be performed or Early Settlement effected, as applicable, on the next succeeding Business Day with the same force
and effect as if made on such Purchase Contract Settlement Date or Early Settlement Date, as applicable.</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">SECTION 1.13. COUNTERPARTS.</P>

<P STYLE="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">This Agreement may be executed in any number
of counterparts by the parties hereto on separate counterparts, each of which, when so executed and delivered, shall be deemed
an original, but all such counterparts shall together constitute one and the same instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.14. INSPECTION OF AGREEMENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of this Agreement shall be available
at all reasonable times during normal business hours at the Corporate Trust Office for inspection by any Holder or Beneficial Owner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 1.15. APPOINTMENT OF FINANCIAL INSTITUTION AS AGENT
FOR THE COMPANY.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may appoint a financial institution
(which may be the Collateral Agent) to act as its agent in performing its obligations and in accepting and enforcing performance
of the obligations of the Purchase Contract Agent and the Holders, under this Agreement and the Purchase Contracts, by giving notice
of such appointment in the manner provided in Section 1.05 hereof. Any such appointment shall not relieve the Company in any way
from its obligations hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE 2</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">CERTIFICATE FORMS</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">SECTION 2.01. FORMS OF CERTIFICATES GENERALLY.</P>

<P STYLE="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">(a) The Certificates (including the form
of Purchase Contract forming part of each Security evidenced thereby) shall be in substantially the form set forth in Exhibit A
hereto (in the case of Certificates evidencing Stock Purchase Units) or Exhibit B hereto (in the case of Certificates evidencing
Treasury Stock Purchase Units), with such letters, numbers or other marks of identification or designation and such legends or
endorsements printed, lithographed or engraved thereon as may be required by the rules of any securities exchange on which the
Securities are listed or any depositary therefor, or as may, consistently herewith, be determined by the officers of the Company
executing such Certificates, as evidenced by their execution of the Certificates.</P>

<P STYLE="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">(b) The definitive Certificates shall be
printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers
of the Company executing the Securities evidenced by such Certificates, consistent with the provisions of this Agreement, as evidenced
by their execution thereof.</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: 0.5in">(c) Every Global Certificate authenticated,
executed on behalf of the Holders and delivered hereunder shall bear a legend in substantially the following form:</P>

<P STYLE="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">&quot;THIS CERTIFICATE IS A GLOBAL CERTIFICATE
WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE &quot;DEPOSITARY&quot;), OR A NOMINEE OF THE DEPOSITARY. THIS CERTIFICATE IS EXCHANGEABLE
FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS CERTIFICATE (OTHER THAN A TRANSFER OF THIS CERTIFICATE AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE
OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REQUESTED
IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS REGISTERED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT
HEREON IS MADE TO CEDE &amp; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE &amp; CO., HAS AN INTEREST HEREIN.&quot;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 2.02. FORM OF PURCHASE CONTRACT AGENT'S CERTIFICATE
OF 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; text-indent: 0.5in">The form of the Purchase Contract Agent's
certificate of authentication of the Securities shall be in substantially the form set forth on the form of the applicable Certificates.</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">ARTICLE 3</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 SECURITIES</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">SECTION 3.01. AMOUNT; FORM AND DENOMINATIONS.</P>

<P STYLE="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">(a) The aggregate number of Securities evidenced
by Certificates authenticated, executed on behalf of the Holders and delivered hereunder is limited to ______________ [(_____________
if the over-allotment option granted in the Underwriting Agreement is exercised in full)], except for Certificates authenticated,
executed and delivered upon registration of transfer of, in exchange for, or in lieu of, other Certificates pursuant to Sections
3.04, 3.05, 3.10, 3.13, 3.14, 5.07 or 8.05.</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: 0.5in">(b) The Certificates shall be issuable only
in registered form and only in denominations of a single Stock Purchase Unit or Treasury Stock Purchase Unit and any integral multiple
thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.02. RIGHTS AND OBLIGATIONS EVIDENCED BY THE CERTIFICATES.</P>

<P STYLE="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">(a) Each Stock Purchase Units Certificate
shall evidence the number of Stock Purchase Units specified therein, with each such Stock Purchase Unit representing (1) the ownership
by the Holder thereof of a beneficial interest in a Preferred Security, a [Subordinated] Note or the Applicable Ownership Interest
of the Treasury Portfolio, as the case may be, subject to the Pledge of such Preferred Security, such [Subordinated] Note or the
Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case
may be, by such Holder pursuant to the Pledge Agreement, and (2) the rights and obligations of the Holder thereof and the Company
under one Purchase Contract. The Purchase Contract Agent, as attorney-in-fact for, and on behalf of, the Holder of each Stock Purchase
Unit shall pledge, pursuant to the Pledge Agreement, the Preferred Security, the [Subordinated] Note or the Applicable Ownership
Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, forming a part
of such Stock Purchase Unit, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title
and interest of such Holder in such Preferred Security, such [Subordinated] Note or the Applicable Ownership Interest (as specified
in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, for the benefit of the Company, to
secure the obligation of the Holder under each Purchase Contract to purchase shares of Common Stock.</P>

<P STYLE="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">(b) Upon the formation of a Treasury Stock
Purchase Unit pursuant to Section 3.13, each Treasury Stock Purchase Units Certificate shall evidence the number of Treasury Stock
Purchase Units specified therein, with each such Treasury Stock Purchase Unit representing (1) the ownership by the Holder thereof
of a 1/40 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000, subject to the Pledge of
such Treasury Security by such Holder pursuant to the Pledge Agreement, and (2) the rights and obligations of the Holder thereof
and the Company under one Purchase Contract.</P>

<P STYLE="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">(c) Prior to the purchase of shares of Common
Stock under each Purchase Contract, such Purchase Contracts shall not entitle the Holder of a Security to any of the rights of
a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments
or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or for the election of directors
of the Company or for any other matter, or any other rights whatsoever as a shareholder of the Company.</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">SECTION 3.03. EXECUTION, AUTHENTICATION, DELIVERY AND DATING.</P>

<P STYLE="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">(a) Subject to the provisions of Sections
3.13 and 3.14 hereof, upon the execution and delivery of this Agreement, and at any time and from time to time thereafter, the
Company may deliver Certificates executed by the Company to the Purchase Contract Agent for authentication, execution on behalf
of the Holders and delivery, together with its Issuer Order for authentication of such Certificates, and the Purchase Contract
Agent in accordance with such Issuer Order shall authenticate, execute on behalf of the Holders and deliver such Certificates.</P>

<P STYLE="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">(b) The Certificates shall be executed on
behalf of the Company by its Chairman of the Board, its President or one of its Vice Presidents. The signature of any of these
officers on the Certificates may be manual or facsimile.</P>

<P STYLE="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">(c) Certificates bearing the manual or facsimile
signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that
such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificates
or did not hold such offices at the date of such Certificates.</P>

<P STYLE="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">(d) No Purchase Contract evidenced by a
Certificate shall be valid until such Certificate has been executed on behalf of the Holder by the manual signature of an authorized
signatory of the Purchase Contract Agent, as such Holder's attorney-in-fact. Such signature by an authorized signatory of the Purchase
Contract Agent shall be conclusive evidence that the Holder of such Certificate has entered into the Purchase Contracts evidenced
by such Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e) Each Certificate shall be dated the
date of its 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; text-indent: 0.5in">(f) No Certificate shall be entitled to
any benefit under this Agreement or be valid or obligatory for any purpose unless there appears on such Certificate a certificate
of authentication substantially in the form provided for herein executed by an authorized signatory of the Purchase Contract Agent
by manual signature, and such certificate upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate
has been duly authenticated and delivered hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.04. TEMPORARY CERTIFICATES.</P>

<P STYLE="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">(a) Pending the preparation of definitive
Certificates, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate,
execute on behalf of the Holders, and deliver, in lieu of such definitive Certificates, temporary Certificates which are in substantially
the form set forth in Exhibit A or Exhibit B hereto, as the case may be, with such letters, numbers or other marks of identification
or designation and such legends or endorsements printed, lithographed or engraved thereon as may be required by the rules of any
securities exchange on which the Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, are listed, or as may,
consistently herewith, be determined by the officers of the Company executing such Certificates, as evidenced by their execution
of the Certificates.</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: 0.5in">(b) If temporary Certificates are issued,
the Company will cause definitive Certificates to be prepared without unreasonable delay. After the preparation of definitive Certificates,
the temporary Certificates shall be exchangeable for definitive Certificates upon surrender of the temporary Certificates at the
Corporate Trust Office, at the expense of the Company and without charge to the Holder. Upon surrender for cancellation of any
one or more temporary Certificates, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract
Agent shall authenticate, execute on behalf of the Holder, and deliver in exchange therefor, one or more definitive Certificates
of like tenor and denominations and evidencing a like number of Securities as the temporary Certificate or Certificates so surrendered.
Until so exchanged, the temporary Certificates shall in all respects evidence the same benefits and the same obligations with respect
to the Securities, evidenced thereby as definitive Certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.05. REGISTRATION; REGISTRATION OF TRANSFER AND EXCHANGE.</P>

<P STYLE="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">(a) The Purchase Contract Agent shall keep
at the Corporate Trust Office a register (the &quot;SECURITY REGISTER&quot;) in which, subject to such reasonable regulations as
it may prescribe, the Purchase Contract Agent shall provide for the registration of Certificates and of transfers of Certificates
(the Purchase Contract Agent, in such capacity, the &quot;SECURITY REGISTRAR&quot;). The Security Registrar shall record separately
the registration and transfer of the Certificates evidencing Stock Purchase Units and Treasury Stock Purchase Units.</P>

<P STYLE="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">(b) Upon surrender for registration of transfer
of any Certificate at the Corporate Trust Office, the Company shall execute and deliver to the Purchase Contract Agent, and the
Purchase Contract Agent shall authenticate, execute on behalf of the designated transferee or transferees, and deliver, in the
name of the designated transferee or transferees, one or more new Certificates of any authorized denominations, like tenor, and
evidencing a like number of Stock Purchase Units or Treasury Stock Purchase Units, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) At the option of the Holder, Certificates
may be exchanged for other Certificates, of any authorized denominations and evidencing a like number of Stock Purchase Units or
Treasury Stock Purchase Units, as the case may be, upon surrender of the Certificates to be exchanged at the Corporate Trust Office.
Whenever any Certificates are so surrendered for exchange, the Company shall execute and deliver to the Purchase Contract Agent,
and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver the Certificates which the Holder
making the exchange is entitled to receive.</P>

<P STYLE="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">(d) All Certificates issued upon any registration
of transfer or exchange of a Certificate shall evidence the ownership of the same number of Stock Purchase Units or Treasury Stock
Purchase Units, as the case may be, and be entitled to the same benefits and subject to the same obligations, under this Agreement
as the Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, evidenced by the Certificate surrendered upon
such registration of transfer or exchange.</P>

<P STYLE="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">(e) Every Certificate presented or surrendered
for registration of transfer or exchange shall (if so required by the Purchase Contract Agent) be duly endorsed, or be accompanied
by a written instrument of transfer in form satisfactory to the Company and the Purchase Contract Agent duly executed, by the Holder
thereof or its attorney duly authorized in writing.</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: 0.5in">(f) No service charge shall be made for
any registration of transfer or exchange of a Certificate, but the Company and the Purchase Contract Agent may require payment
from the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of Certificates, other than any exchanges pursuant to Sections 3.06 and 8.05 not involving any transfer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g) Notwithstanding the foregoing, the Company
shall not be obligated to execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall not be obligated
to authenticate, execute on behalf of the Holder and deliver any Certificate in exchange for any other Certificate presented or
surrendered for registration of transfer or for exchange on or after the Business Day immediately preceding the earliest of any
Early Settlement Date for such Certificate, the Purchase Contract Settlement Date or the Termination Date. In lieu of delivery
of a new Certificate, upon satisfaction of the applicable conditions specified above in this Section and receipt of appropriate
registration or transfer instructions from such Holder, the Purchase Contract Agent shall:</P>

<P STYLE="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">(i) if the Purchase Contract Settlement Date
or an Early Settlement Date with respect to such other Certificate has occurred, deliver the shares of Common Stock issuable in
respect of the Purchase Contracts forming a part of the Securities evidenced by such other Certificate; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) if a Cash Settlement or an Early Settlement
Date with respect to such other Certificate shall have occurred, or if a Termination Event shall have occurred prior to the Purchase
Contract Settlement Date, transfer the Preferred Securities, the [Subordinated] Notes, the Treasury Securities, or the appropriate
Applicable Ownership Interest of the Treasury Portfolio, as the case may be, evidenced thereby, in each case subject to the applicable
conditions and in accordance with the applicable provisions of Section 3.15 and Article Five hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.06. BOOK-ENTRY INTERESTS.</P>

<P STYLE="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">(a) The Certificates, on original issuance,
will be issued in the form of one or more fully registered Global Certificates, to be delivered to the Depositary or its custodian
by, or on behalf of, the Company. The Company hereby designates DTC as the initial Depositary. Such Global Certificates shall initially
be registered on the books and records of the Company in the name of Cede &amp; Co., the nominee of the Depositary, and no Beneficial
Owner will receive a definitive Certificate representing such Beneficial Owner's interest in such Global Certificate, except as
provided in Section 3.09. The Purchase Contract Agent shall enter into an agreement with the Depositary if so requested by the
Company. Unless and until definitive, fully registered Certificates have been issued to Beneficial Owners pursuant to Section 3.09:</P>

<P STYLE="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">(i) the provisions of this Section 3.06 shall
be in full force and effect;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) the Company shall be entitled to deal
with the Depositary for all purposes of this Agreement (including making Purchase Contract Payments and receiving approvals, votes
or consents hereunder) as the Holder of the Securities and the sole holder of the Global Certificates and shall have no obligation
to the Beneficial Owners;</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">(iii) to the extent that the provisions of
this Section 3.06 conflict with any other provisions of this Agreement, the provisions of this Section 3.06 shall control; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv) the rights of the Beneficial Owners shall
be exercised only through the Depositary and shall be limited to those established by law and agreements between such Beneficial
Owners and the Depositary or the Depositary Participants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.07. NOTICES TO HOLDERS.</P>

<P STYLE="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">Whenever a notice or other communication
to the Holders is required to be given under this Agreement, the Company or the Company's agent shall give such notices and communications
to the Holders and, with respect to any Securities registered in the name of the Depositary or the nominee of the Depositary, the
Company or the Company's agent shall, except as set forth herein, have no obligations to the Beneficial Owners.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.08. APPOINTMENT OF SUCCESSOR DEPOSITARY.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Depositary elects to discontinue
its services as securities depositary with respect to the Securities, the Company may, in its sole discretion, appoint a successor
Depositary with respect to the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.09. DEFINITIVE CERTIFICATES.</P>

<P STYLE="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">(a) If:</P>

<P STYLE="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">(i) the Depositary elects to discontinue its
services as securities depositary with respect to the Securities and a successor Depositary is not appointed within 90 days after
such discontinuance pursuant to Section 3.08; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) the Company elects, after consultation
with the Purchase Contract Agent, to terminate the book-entry system for the Securities,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">then (x) definitive Certificates shall be
prepared by the Company with respect to such Securities and delivered to the Purchase Contract Agent and (y) upon surrender of
the Global Certificates representing the Securities by the Depositary, accompanied by registration instructions, the Company shall
cause definitive Certificates to be delivered to Beneficial Owners in accordance with the instructions of the Depositary. The Company
shall not be liable for any delay in delivery of such instructions and may conclusively rely on and shall be protected in relying
on, such instructions. Each definitive Certificate so delivered shall evidence Securities of the same kind and tenor as the Global
Certificate so surrendered in respect thereof.</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">SECTION 3.10. MUTILATED, DESTROYED, LOST AND STOLEN CERTIFICATES.</P>

<P STYLE="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">(a) If any mutilated Certificate is surrendered
to the Purchase Contract Agent, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract
Agent shall authenticate, execute on behalf of the Holder, and deliver in exchange therefor, a new Certificate, evidencing the
same number of Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, and bearing a Certificate number not
contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) If there shall be delivered to the Company
and the Purchase Contract Agent (i) evidence to their satisfaction of the destruction, loss or theft of any Certificate, and (ii)
such security or indemnity as may be required by them to hold each of them and any agent of any of them harmless, then, in the
absence of notice to the Company or the Purchase Contract Agent that such Certificate has been acquired by a protected purchaser,
the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute
on behalf of the Holder, and deliver to the Holder, in lieu of any such destroyed, lost or stolen Certificate, a new Certificate,
evidencing the same number of Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, and bearing a Certificate
number not contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) Notwithstanding the foregoing, the Company
shall not be obligated to execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall not be obligated
to authenticate, execute on behalf of the Holder, and deliver to the Holder, a Certificate on or after the Business Day immediately
preceding the earliest of any Early Settlement Date for such lost or mutilated Certificate, the Purchase Contract Settlement Date
or the Termination Date. In lieu of delivery of a new Certificate, upon satisfaction of the applicable conditions specified above
in this Section and receipt of appropriate registration or transfer instructions from such Holder, the Purchase Contract Agent
shall:</P>

<P STYLE="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">(i) if the Purchase Contract Settlement Date
or an Early Settlement Date with respect to such lost or mutilated Certificate has occurred, deliver the shares of Common Stock
issuable in respect of the Purchase Contracts forming a part of the Securities evidenced by such Certificate; or</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">(ii) if a Cash Settlement or an Early Settlement
Date with respect to such lost or mutilated Certificate shall have occurred or if a Termination Event shall have occurred prior
to the Purchase Contract Settlement Date, transfer the Preferred Securities, the [Subordinated] Notes, the Treasury Securities
or the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio,
as the case may be, evidenced thereby, in each case subject to the applicable conditions and in accordance with the applicable
provisions of Section 3.15 and Article Five hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) Upon the issuance of any new Certificate
under this Section, the Company and the Purchase Contract Agent may require the payment by the Holder of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses
of the Purchase Contract Agent) connected therewith.</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: 0.5in">(e) Every new Certificate issued pursuant
to this Section in lieu of any destroyed, lost or stolen Certificate shall constitute an original additional contractual obligation
of the Company and of the Holder in respect of the Security evidenced thereby, whether or not the destroyed, lost or stolen Certificate
(and the Securities evidenced thereby) shall be at any time enforceable by anyone, and shall be entitled to all the benefits and
be subject to all the obligations of this Agreement equally and proportionately with any and all other Certificates delivered hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f) The provisions of this Section are exclusive
and shall preclude, to the extent lawful, all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.11. PERSONS DEEMED OWNERS.</P>

<P STYLE="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">(a) Prior to due presentment of a Certificate
for registration of transfer, the Company and the Purchase Contract Agent, and any agent of the Company or the Purchase Contract
Agent, may treat the Person in whose name such Certificate is registered as the owner of the Security evidenced thereby, for the
purpose of receiving distributions on the Preferred Securities, the Treasury Securities, the [Subordinated] Notes, or on the maturing
quarterly interest strips of the Treasury Portfolio, as applicable, receiving Purchase Contract Payments, performance of the Purchase
Contracts and for all other purposes whatsoever, whether or not any distributions on the Preferred Securities, the Treasury Securities,
the [Subordinated] Notes, or Treasury Portfolio, as applicable, or Purchase Contract Payments payable on the Purchase Contracts,
each constituting a part of the Security evidenced thereby shall be overdue and notwithstanding any notice to the contrary, and
neither the Company nor the Purchase Contract Agent, nor any agent of the Company or the Purchase Contract Agent, shall be affected
by notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Notwithstanding the foregoing, with
respect to any Global Certificate, nothing contained herein shall prevent the Company, the Purchase Contract Agent or any agent
of the Company or the Purchase Contract Agent, from giving effect to any written certification, proxy or other authorization furnished
by the Depositary (or its nominee), as a Holder, with respect to such Global Certificate or impair, as between such Depositary
and the related Beneficial Owner, the operation of customary practices governing the exercise of rights of the Depositary (or its
nominee) as Holder of such Global Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.12. CANCELLATION.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) All Certificates surrendered for delivery
of shares of Common Stock on or after the Purchase Contract Settlement Date, upon the transfer of Preferred Securities, [Subordinated]
Notes, the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of that term) of the Treasury
Portfolio or Treasury Securities, as the case may be, after the occurrence of a Termination Event or pursuant to an Early Settlement,
or upon the registration of transfer or exchange of a Security, or a Collateral Substitution or the reestablishment of Stock Purchase
Units shall, if surrendered to any Person other than the Purchase Contract Agent, be delivered to the Purchase Contract Agent and,
if not already cancelled, shall be promptly cancelled by it. The Company may at any time deliver to the Purchase Contract Agent
for cancellation any Certificates previously authenticated, executed and delivered hereunder which the Company may have acquired
in any manner whatsoever, and all Certificates so delivered shall, upon Issuer Order, be promptly cancelled by the Purchase Contract
Agent. No Certificates shall be authenticated, executed on behalf of the Holder and delivered in lieu of or in exchange for any
Certificates cancelled as provided in this Section, except as expressly permitted by this Agreement. All cancelled Certificates
held by the Purchase Contract Agent shall be disposed of in accordance with its customary practices.</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: 0.5in">(b0 If the Company or any Affiliate of the
Company shall acquire any Certificate, such acquisition shall not operate as a cancellation of such Certificate unless and until
such Certificate is delivered to the Purchase Contract Agent cancelled or for cancellation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 3.13. CREATION OF TREASURY STOCK PURCHASE UNITS BY SUBSTITUTION
OF TREASURY SECURITIES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) Subject to the conditions set forth
in this Agreement, a Holder may separate the Preferred Securities or the [Subordinated] Notes, as applicable, from the related
Purchase Contracts in respect of such Holder's Stock Purchase Units by substituting for such Preferred Securities or [Subordinated]
Notes, as applicable, Treasury Securities in an aggregate principal amount equal to the aggregate liquidation amount of such Preferred
Securities or the aggregate principal amount of such [Subordinated] Notes, as applicable (a &quot;COLLATERAL SUBSTITUTION&quot;),
at any time from and after the date of this Agreement and prior to or on the seventh Business Day immediately preceding the Purchase
Contract Settlement Date. To effect such substitution, the Holder must:</P>

<P STYLE="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">(1) deposit with the Securities Intermediary
Treasury Securities having an aggregate principal amount equal to the aggregate liquidation amount of the Preferred Securities
or the aggregate principal amount of the [Subordinated] Notes comprising part of such Stock Purchase Units, as the case may be;
and</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">(2) transfer the related Stock Purchase Units
to the Purchase Contract Agent accompanied by a notice to the Purchase Contract Agent, substantially in the form of Exhibit C hereto,
(i) stating that the Holder has transferred the relevant amount of Treasury Securities to the Securities Intermediary and (ii)
requesting that the Purchase Contract Agent instruct the Collateral Agent to release the Preferred Securities or the [Subordinated]
Notes, as the case may be, underlying such Stock Purchase Units, whereupon the Purchase Contract Agent shall promptly provide an
instruction to such effect to the Collateral Agent, substantially in the form of Exhibit A to the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Upon receipt of the Treasury Securities
described in clause (a)(1) above and the instruction described in clause (a) (2) above, in accordance with the terms of the Pledge
Agreement, the Collateral Agent will cause the Securities Intermediary to effect the release of such Preferred Securities or the
[Subordinated] Notes, as the case may be, from the Pledge, free and clear of the Company's security interest therein, and the transfer
of such Preferred Securities or the [Subordinated] Notes, as the case may be, to the Purchase Contract Agent on behalf of the Holder.
Upon receipt thereof, the Purchase Contract Agent shall promptly:</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">(i) cancel the related Stock Purchase Units;</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">(ii) transfer the Preferred Securities or
the [Subordinated] Notes, as the case may be, to the Holder; and</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">(iii) authenticate, execute on behalf of such
Holder and deliver a Treasury Stock Purchase Units Certificate executed by the Company in accordance with Section 3.03 evidencing
the same number of Purchase Contracts as were evidenced by the cancelled Stock Purchase Units.</P>

<P STYLE="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">(c) Holders who elect to separate the Preferred
Securities or the [Subordinated] Notes, as the case may be, from the related Purchase Contracts and to substitute Treasury Securities
for such Preferred Securities or the [Subordinated] Notes, as the case may be, shall be responsible for any fees or expenses payable
to the Collateral Agent for its services as Collateral Agent in respect of the substitution, and the Company shall not be responsible
for any such fees or expenses.</P>

<P STYLE="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">(d) Holders may make Collateral Substitutions
only in integral multiples of 40 Stock Purchase Units. If a Tax Event Redemption has occurred, Holders may no longer convert their
Stock Purchase Units into Treasury Stock Purchase Units.</P>

<P STYLE="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">(e) In the event a Holder making a Collateral
Substitution pursuant to this Section 3.13 fails to effect a book-entry transfer of the Stock Purchase Units or fails to deliver
Stock Purchase Units Certificates to the Purchase Contract Agent after depositing Treasury Securities with the Collateral Agent,
any distributions on the Preferred Securities or the [Subordinated] Notes constituting a part of such Stock Purchase Units, as
the case may be, shall be held in the name of the Purchase Contract Agent or its nominee in trust for the benefit of such Holder,
until such Stock Purchase Units are so transferred or the Stock Purchase Units Certificate is so delivered, as the case may be,
or, such Holder provides evidence satisfactory to the Company and the Purchase Contract Agent that such Stock Purchase Units Certificate
has been destroyed, lost or stolen, together with any indemnity that may be required by the Purchase Contract Agent and the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f) Except as described in this Section
3.13 or in connection with a Cash Settlement, for so long as the Purchase Contract underlying a Stock Purchase Unit remains in
effect, such Stock Purchase Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder
in respect of the Preferred Securities or the [Subordinated] Notes, as the case may be, and the Purchase Contract comprising such
Stock Purchase Unit may be acquired, and may be transferred and exchanged, only as a Stock Purchase Unit.</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">SECTION 3.14. REESTABLISHMENT OF STOCK PURCHASE UNITS.</P>

<P STYLE="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">(a) Subject to the conditions set forth
in this Agreement, a Holder of Treasury Stock Purchase Units may reestablish Stock Purchase Units at any time (i) prior to or on
the seventh Business Day immediately preceding the Purchase Contract Settlement Date, by:</P>

<P STYLE="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">(1) depositing with the Securities Intermediary
Preferred Securities or [Subordinated] Notes, as the case may be, having an aggregate liquidation amount (in the case of Preferred
Securities) or aggregate principal amount (in the case of [Subordinated] Notes), as the case may be, equal to the aggregate principal
amount at maturity of the Treasury Securities comprising part of the Treasury Stock Purchase Units; and</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">(2) transferring the related Treasury Stock
Purchase Units to the Purchase Contract Agent accompanied by a notice to the Purchase Contract Agent, substantially in the form
of Exhibit C hereto, (i) stating that the Holder has transferred the relevant amount of Preferred Securities or [Subordinated]
Notes, as the case may be, to the Securities Intermediary and (ii) requesting that the Purchase Contract Agent instruct the Collateral
Agent to release the Treasury Securities underlying such Treasury Stock Purchase Units, whereupon the Purchase Contract Agent shall
promptly provide an instruction to such effect to the Collateral Agent, substantially in the form of Exhibit C to the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Upon receipt of the Preferred Securities
or the [Subordinated] Notes, as the case may be, described in clause (1) above and the instruction described in clause (2) above,
in accordance with the terms of the Pledge Agreement, the Collateral Agent will cause the Securities Intermediary to effect the
release of the Treasury Securities having a corresponding aggregate principal amount at maturity from the Pledge, free and clear
of the Company's security interest therein, and the transfer to the Purchase Contract Agent on behalf of the Holder. Upon receipt
thereof, the Purchase Contract Agent shall promptly:</P>

<P STYLE="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">(i) cancel the related Treasury Stock Purchase
Units;</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">(ii) transfer the Treasury Securities to the
Holder; and</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">(iii) authenticate, execute on behalf of such
Holder and deliver a Stock Purchase Units Certificate executed by the Company in accordance with Section 3.03 evidencing the same
number of Purchase Contracts as were evidenced by the cancelled Treasury Stock Purchase Units.</P>

<P STYLE="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">(c) Holders who elect to reestablish Stock
Purchase Units shall be responsible for any fees or expenses payable to the Collateral Agent for its services as Collateral Agent
in respect of the reestablishment, and the Company shall not be responsible for any such fees or expenses.</P>

<P STYLE="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">(d) Holders of Treasury Stock Purchase Units
may only reestablish Stock Purchase Units in integral multiples of 40 Treasury Stock Purchase Units. If a Tax Event Redemption
has occurred, Holders may no longer convert their Treasury Stock Purchase Units into Stock Purchase Units.</P>

<P STYLE="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">(e) Except as provided in this Section 3.14
or in connection with a Cash Settlement, for so long as the Purchase Contract underlying a Treasury Stock Purchase Unit remains
in effect, such Treasury Stock Purchase Unit shall not be separable into its constituent parts and the rights and obligations of
the Holder of such Treasury Stock Purchase Unit in respect of the 1/40 of a Treasury Security and the Purchase Contract comprising
such Treasury Stock Purchase Unit may be acquired, and may be transferred and exchanged, only as a Treasury Stock Purchase Unit.</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">SECTION 3.15. TRANSFER OF COLLATERAL UPON OCCURRENCE OF TERMINATION
EVENT.</P>

<P STYLE="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">(a) Upon the occurrence of a Termination
Event and the transfer to the Purchase Contract Agent of the Preferred Securities, [Subordinated] Notes, the appropriate Applicable
Ownership Interest of the Treasury Portfolio or the Treasury Securities, as the case may be, underlying the Stock Purchase Units
and the Treasury Stock Purchase Units, as the case may be, pursuant to the terms of the Pledge Agreement, the Purchase Contract
Agent shall request transfer instructions with respect to such Preferred Securities, [Subordinated] Notes, the appropriate Applicable
Ownership Interest of the Treasury Portfolio or Treasury Securities, as the case may be, from each Holder by written request, substantially
in the form of Exhibit D hereto, mailed to such Holder at its address as it appears in the Security Register.</P>

<P STYLE="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">(b) Upon book-entry transfer of the Stock
Purchase Units or the Treasury Stock Purchase Units or delivery of a Stock Purchase Units Certificate or Treasury Stock Purchase
Units Certificate to the Purchase Contract Agent with such transfer instructions, the Purchase Contract Agent shall transfer the
Preferred Securities, [Subordinated] Notes, the appropriate Applicable Ownership Interest of the Treasury Portfolio or Treasury
Securities, as the case may be, underlying such Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, to such
Holder by book-entry transfer, or other appropriate procedures, in accordance with such instructions. In the event a Holder of
Stock Purchase Units or Treasury Stock Purchase Units fails to effect such transfer or delivery, the Preferred Securities, [Subordinated]
Notes, the appropriate Applicable Ownership Interest of the Treasury Portfolio or Treasury Securities, as the case may be, underlying
such Stock Purchase Units or Treasury Stock Purchase Units, as the case may be, and any distributions thereon, shall be held in
the name of the Purchase Contract Agent or its nominee in trust for the benefit of such Holder, until the earlier to occur of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) the transfer of such Stock Purchase Units
or Treasury Stock Purchase Units or surrender of the Stock Purchase Units Certificate or Treasury Stock Purchase Units Certificate
or receipt by the Company and the Purchase Contract Agent from such Holder of satisfactory evidence that such Stock Purchase Units
Certificate or Treasury Stock Purchase Units Certificate has been destroyed, lost or stolen, together with any indemnity that may
be required by the Purchase Contract Agent and the Company; and</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">(ii) the expiration of the time period specified
in the abandoned property laws of the relevant State.</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">SECTION 3.16. NO CONSENT TO ASSUMPTION.</P>

<P STYLE="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">Each Holder of a Security, by acceptance
thereof, shall be deemed expressly to have withheld any consent to the assumption under Section 365 of the Bankruptcy Code or otherwise,
of the Purchase Contract by the Company or its trustee, receiver, liquidator or a person or entity performing similar functions
in the event that the Company becomes the debtor under the Bankruptcy Code or subject to other similar state or Federal law providing
for reorganization or liquidation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE 4</P>

<P STYLE="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">THE PREFERRED SECURITIES, [SUBORDINATED]
NOTES AND APPLICABLE OWNERSHIP INTEREST OF THE TREASURY PORTFOLIO</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 4.01. INTEREST PAYMENTS; RIGHTS TO INTEREST PAYMENTS
PRESERVED.</P>

<P STYLE="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">(a) Any distribution on any Preferred Security,
any [Subordinated] Note or on the appropriate Applicable Ownership Interest of the Treasury Portfolio, as the case may be, which
is paid on any Payment Date shall, subject to receipt thereof by the Purchase Contract Agent from the Collateral Agent as provided
by the terms of the Pledge Agreement, be paid to the Person in whose name the Stock Purchase Units Certificate (or one or more
Predecessor Stock Purchase Units Certificates) of which such Preferred Security, such [Subordinated] Note or the appropriate Applicable
Ownership Interest of the Treasury Portfolio, as the case may be, is registered at the close of business on the Record Date for
such Payment Date. Any such distribution shall be subject to deferral at the option of the Company in accordance with the Indenture
and the Declaration.</P>

<P STYLE="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">(b) Each Stock Purchase Units Certificate
evidencing Preferred Securities, [Subordinated] Notes or the appropriate Applicable Ownership Interest of the Treasury Portfolio
delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of any other Stock Purchase Units
Certificate shall carry the right to distributions accrued and unpaid, and to accrue distributions interest, which were carried
by the Preferred Securities, [Subordinated] Notes or the appropriate Applicable Ownership Interest of the Treasury Portfolio underlying
such other Stock Purchase Units Certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) In the case of any Stock Purchase Units
with respect to which Cash Settlement of the underlying Purchase Contract is properly effected pursuant to Section 5.02 hereof,
or with respect to which Early Settlement of the underlying Purchase Contract is properly effected pursuant tot Section 5.07 hereof,
or with respect to which a Collateral Substitution is effected, in each case on a date that is after any Record Date and prior
to or on the next succeeding Payment Date, distributions on the Preferred Securities, [Subordinated] Notes or on the appropriate
Applicable Ownership Interest of the Treasury Portfolio, as the case may be, underlying such Stock Purchase Unit otherwise payable
on such Payment Date shall be payable on such Payment Date notwithstanding such Cash Settlement or Early Settlement or Collateral
Substitution, and such distributions shall, subject to receipt thereof by the Purchase Contract Agent, be payable to the Person
in whose name the Stock Purchase Units Certificate (or one or more Predecessor Stock Purchase Units Certificates) was registered
at the close of business on the Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the
case of any Stock Purchase Unit with respect to which Cash Settlement or Early Settlement of the underlying Purchase Contract is
properly effected, or with respect to which a Collateral Substitution has been effected, distributions on the related Preferred
Securities, [Subordinated] Notes or the appropriate Applicable Ownership Interest of the Treasury Portfolio, as the case may be,
that would otherwise be payable after the Purchase Contract Settlement Date, Early Settlement Date or the date of the Collateral
Substitution, as the case may be, shall not be payable hereunder to the Holder of such Stock Purchase Units; PROVIDED, HOWEVER,
that to the extent that such Holder continues to hold separated Preferred Securities or [Subordinated] Notes that formerly comprised
a part of such Holder's Stock Purchase Unit, such Holder shall be entitled to receive distributions on such separated Preferred
Securities or [Subordinated] Notes.</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: 0.5in">(d) Not later than 15 calendar days nor
more than 30 calendar days prior to the Remarketing Date, the Company shall request the Depositary to notify the Beneficial Owners
or Depositary Participants holding Securities of the procedures to be followed by Holders of Securities who intend to effect a
Cash Settlement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 4.02. NOTICE AND VOTING.</P>

<P STYLE="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">(a) Under the terms of the Pledge Agreement,
the Purchase Contract Agent will be entitled to exercise the voting and any other consensual rights pertaining to the Pledged Preferred
Securities or Pledged [Subordinated] Notes, but only to the extent instructed in writing by the Holders as described below. Upon
receipt of notice of any meeting at which holders of Preferred Securities or [Subordinated] Notes are entitled to vote or upon
any solicitation of consents, waivers or proxies of holders of Preferred Securities or [Subordinated] Notes, the Purchase Contract
Agent shall, as soon as practicable thereafter, mail, first class, postage pre-paid, to the Holders of Stock Purchase Units a notice:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) containing such information as is contained
in the notice or solicitation;</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">(ii) stating that each Holder on the record
date set by the Purchase Contract Agent therefor (which, to the extent possible, shall be the same date as the record date for
determining the holders of Preferred Securities or [Subordinated] Notes, as the case may be, entitled to vote) shall be entitled
to instruct the Purchase Contract Agent as to the exercise of the voting rights pertaining to such Preferred Securities or [Subordinated]
Notes underlying their Stock Purchase Units; and</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">(iii) stating the manner in which such instructions
may be given.</P>

<P STYLE="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">(b) Upon the written request of the Holders
of Stock Purchase Units on such record date received by the Purchase Contract Agent at least six days prior to such meeting, the
Purchase Contract Agent shall endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions
set forth in such requests, the maximum number of Preferred Securities or [Subordinated] Notes, as the case may be, as to which
any particular voting instructions are received. In the absence of specific instructions from the Holder of a Stock Purchase Unit,
the Purchase Contract Agent shall abstain from voting the Preferred Securities or [Subordinated] Notes underlying such Stock Purchase
Unit. The Company hereby agrees, if applicable, to solicit Holders of Stock Purchase Units to timely instruct the Purchase Contract
Agent in order to enable the Purchase Contract Agent to vote such Preferred Securities or [Subordinated] Notes and the Trust shall
covenant to this effect in the Declaration.</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">SECTION 4.03. DISTRIBUTION OF [SUBORDINATED] NOTES; TAX EVENT
REDEMPTION.</P>

<P STYLE="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">(a) Upon the dissolution and liquidation
of the Trust in accordance with the Declaration, an aggregate principal amount at maturity of [Subordinated] Notes constituting
the assets of the Trust and underlying the Preferred Securities equal to the aggregate liquidation amount of the Pledged Preferred
Securities shall be delivered to the Securities Intermediary in exchange for the Pledged Preferred Securities. Thereafter, the
[Subordinated] Notes will be substituted for the Pledged Preferred Securities as the Collateral, and will be held by the Securities
Intermediary in the Collateral Account in accordance with the terms of the Pledge Agreement to secure the obligations of each Holder
of a Stock Purchase Unit to purchase the Common Stock of the Company under the Purchase Contracts constituting a part of such Stock
Purchase Unit.</P>

<P STYLE="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">(b) Notwithstanding the foregoing, in the
event of a dissolution and liquidation of the Trust, if a Liquidation Distribution is to be distributed in lieu of the [Subordinated]
Notes as provided for in the Declaration, an amount equal to the Liquidation Distribution shall be deposited in the Collateral
Account in exchange for the Pledged Preferred Securities. Thereafter, pursuant to the terms of the Pledge Agreement, the Collateral
Agent shall cause the Securities Intermediary to apply an amount equal to the Redemption Amount of such Liquidation Distribution
to purchase on behalf of the Holders of Stock Purchase Units the Treasury Portfolio and promptly remit the remaining portion of
such Liquidation Distribution to the Purchase Contract Agent for payment to the Holders of such Stock Purchase Units. The Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio will be substituted as
Collateral for the Pledged Preferred Securities and will be held by the Collateral Agent in accordance with the terms of the Pledge
Agreement to secure the obligation of each Holder of a Stock Purchase Unit to purchase the Common Stock of the Company under the
Purchase Contract constituting a part of such Stock Purchase Unit.</P>

<P STYLE="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">(c) Following the dissolution and liquidation
of the Trust, the Holders and the Collateral Agent shall have such security interests, rights and obligations with respect to the
[Subordinated] Notes or the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury
Portfolio, as the case may be, as the Holders and the Collateral Agent had in respect of the Preferred Securities subject to the
Pledge thereof as provided in the Pledge Agreement. The Company may cause to be made in any Stock Purchase Unit Certificates thereafter
to be issued such change in phraseology and form (but not in substance) as may be appropriate to reflect the dissolution and liquidation
of the Trust and the substitution of [Subordinated] Notes or the Applicable Ownership Interest (as specified in clause (A) of the
definition of such term) of the Treasury Portfolio, as the case may be, for Preferred Securities as Collateral.</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: 0.5in">(d) Upon the occurrence of a Tax Event Redemption
prior to the Purchase Contract Settlement Date, an amount equal to the Redemption Amount, plus any accumulated and unpaid distributions
or accrued and unpaid interest, as the case may be, payable on the Tax Event Redemption Date with respect to the Applicable Principal
Amount shall be deposited in the Collateral Account in exchange for the Pledged Preferred Securities or the Pledged [Subordinated]
Notes, as the case may be. Thereafter, pursuant to the terms of the Pledge Agreement, the Collateral Agent shall cause the Securities
Intermediary to apply an amount equal to the Redemption Amount of such funds to purchase on behalf of the Holders of Stock Purchase
Units the Treasury Portfolio and promptly remit the remaining portion of such funds to the Purchase Contract Agent for payment
to the Holders of such Stock Purchase Units. The Applicable Ownership Interest (as specified in clause (A) of the definition of
such term) of the Treasury Portfolio will be substituted as Collateral for the Pledged Preferred Securities or the Pledged [Subordinated]
Notes, as the case may be, and will be held by the Collateral Agent in accordance with the terms of the Pledge Agreement to secure
the obligation of each Holder of a Stock Purchase Unit to purchase the Common Stock of the Company under the Purchase Contract
constituting a part of such Stock Purchase Unit. Following the occurrence of a Tax Event Redemption prior to the Purchase Contract
Settlement Date, the Holders of Stock Purchase Units and the Collateral Agent shall have such security interest rights and obligations
with respect to the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio
as the Holders of Stock Purchase Units and the Collateral Agent had in respect of the Preferred Securities or [Subordinated] Notes,
as the case may be, subject to the Pledge thereof as provided in the Pledge Agreement, and any reference herein to the Preferred
Securities or the [Subordinated] Notes shall be deemed to be reference to such Treasury Portfolio. The Company may cause to be
made in any Stock Purchase Unit Certificates thereafter to be issued such change in phraseology and form (but not in substance)
as may be appropriate to reflect the liquidation of the Trust and the substitution of the Applicable Ownership Interest (as specified
in clause (A) of the definition of such term) of the Treasury Portfolio for Preferred Securities or [Subordinated] Notes as Collateral.</P>

<P STYLE="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">ARTICLE 5</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 PURCHASE CONTRACTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.01. PURCHASE OF SHARES OF COMMON STOCK.</P>

<P STYLE="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">(a) Each Purchase Contract shall obligate
the Holder of the related Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal
to the Stated Amount (the &quot;PURCHASE PRICE&quot;), a number of shares of Common Stock (subject to Section 5.09) equal to the
Settlement Rate unless an Early Settlement has occurred in accordance with Section 5.07 hereof or, prior to or on the Purchase
Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract
is a part. The &quot;SETTLEMENT RATE&quot; is equal to:</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">(i) if the Applicable Market Value (as defined
below) is greater than or equal to $______ (the &quot;THRESHOLD APPRECIATION PRICE&quot;), _______ share of Common Stock per Purchase
Contract;</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">(ii) if the Applicable Market Value is less
than the Threshold Appreciation Price but greater than $_______ (the &quot;REFERENCE PRICE&quot;), the number of shares of Common
Stock per Purchase Contract having a value, based on the Applicable Market Value, equal to the Stated Amount; and</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">(iii) if the Applicable Market Value is less
than or equal to the Reference Price, _______ share of Common Stock per Purchase Contract,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">in each case subject to adjustment as provided in Section 5.04
(and in each case rounded upward or downward to the nearest 1/10,000th of a share).</P>

<P STYLE="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">(b) The &quot;APPLICABLE MARKET VALUE&quot;
means the average of the Closing Price per share of Common Stock on each of the 20 consecutive Trading Days ending on the third
Trading Day immediately preceding the Purchase Contract Settlement Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) The &quot;CLOSING PRICE&quot; per share
of Common Stock on any date of determination means:</P>

<P STYLE="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">(i) the closing sale price as of the 4:15
p.m. close of the principal trading session (or, if no closing price is reported, the last reported sale price) per share on the
New York Stock Exchange, Inc. (the &quot;NYSE&quot;) on such date;</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">(ii) if the Common Stock is not listed for
trading on the NYSE on any such date, the closing sale price per share as reported in the composite transactions for the principal
United States securities exchange on which the Common Stock is so listed;</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">(iii) if the Common Stock is not so listed
on a United States national or regional securities exchange, the closing sale price per share as reported by The Nasdaq National
Market;</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">(iv) if the Common Stock is not so reported,
the last quoted bid price for the Common Stock in the over-the-counter market as reported by the National Quotation Bureau or similar
organization; or</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">(v) if such bid price is not available, the
average of the mid-point of the last bid and ask prices of the Common Stock on such date from at least three nationally recognized
independent investment banking firms retained for this purpose by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) A &quot;TRADING DAY&quot; means a day
on which the Common Stock (1) is not suspended from trading on any national or regional securities exchange or association or over-the-counter
market at the close of business and (2) has traded at least once on the national or regional securities exchange or association
or over-the-counter market that is the primary market for the trading of the Common Stock.</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: 0.5in">(e) Each Holder of a Stock Purchase Unit
or a Treasury Stock Purchase Unit, by its acceptance thereof:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) irrevocably authorizes the Purchase Contract
Agent to enter into and perform the related Purchase Contract on its behalf as its attorney-in- fact (including the execution of
Certificates on behalf of such Holder);</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">(ii) agrees to be bound by the terms and provisions
thereof;</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">(iii) covenants and agrees to perform its
obligations under such Purchase Contracts;</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">(iv) consents to the provisions hereof;</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">(v) irrevocably authorizes the Purchase Contract
Agent to enter into and perform this Agreement and the Pledge Agreement on its behalf as its attorney-in-fact; and</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">(vi) consents to, and agrees to be bound by,
the Pledge of such Holder's right, title and interest in and to the Collateral Account, including the Preferred Securities, [Subordinated]
Notes, the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio
or the Treasury Securities pursuant to the Pledge Agreement,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PROVIDED that upon a Termination Event, the rights of the Holder
of such Security under the Purchase Contract may be enforced without regard to any other rights or obligations. Each Holder of
a Stock Purchase Unit or a Treasury Stock Purchase Unit, by its acceptance thereof, further covenants and agrees, that to the extent
and in the manner provided in Section 5.02 and the Pledge Agreement, but subject to the terms thereof, payments in respect of the
Preferred Securities or the [Subordinated] Notes or the proceeds from the Treasury Securities or the Applicable Ownership Interest
(as specified in clause (A) of the definition of such term) of the Treasury Portfolio at maturity on the Purchase Contract Settlement
Date, as the case may be, shall be paid by the Collateral Agent to the Company in satisfaction of such Holder's obligations under
such Purchase Contract and such Holder shall acquire no right, title or interest in such payments.</P>

<P STYLE="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">(f) Upon registration of transfer of a Certificate,
the transferee shall be bound (without the necessity of any other action on the part of such transferee) by the terms of this Agreement,
the Purchase Contracts underlying such Certificate, the Declaration and the Pledge Agreement and the transferor shall be released
from the obligations under this Agreement, the Purchase Contracts underlying the Certificate so transferred and the Pledge Agreement.
The Company covenants and agrees, and each Holder of a Certificate, by its acceptance thereof, likewise covenants and agrees, to
be bound by the provisions of this paragraph.</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">SECTION 5.02. PAYMENT OF PURCHASE PRICE.</P>

<P STYLE="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">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Unless a Tax Event Redemption has occurred or
a Holder of a Stock Purchase Unit effects an Early Settlement of the underlying Purchase Contract in the manner described in Section
5.07, each Holder who intends to pay in cash to satisfy such Holder's obligations under the Purchase Contract on the Purchase Contract
Settlement Date shall notify the Purchase Contract Agent by use of a notice in substantially the form of Exhibit E hereto of his
intention to pay in cash (&quot;CASH SETTLEMENT&quot;) the Purchase Price for the shares of Common Stock to be purchased pursuant
to the related Purchase Contract. Such notice shall be given prior to 5:00 p.m. (New York City time) on the seventh Business Day
immediately preceding the Purchase Contract Settlement Date. Prior to 11:00 a.m. (New York City time) on the next succeeding Business
Day, the Purchase Contract Agent shall notify the Collateral Agent and the Property Trustee or the Indenture Trustee, as the case
may be, of the receipt of such notices from Holders intending to make a Cash Settlement.</P>

<P STYLE="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">(ii) A Holder of a Stock Purchase Unit who
has so notified the Purchase Contract Agent of his intention to effect a Cash Settlement in accordance with paragraph 5.02(a)(i)
above shall pay the Purchase Price to the Securities Intermediary for deposit in the Collateral Account prior to 11:00 a.m. (New
York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement Date, in lawful money of the United
States by certified or cashiers' check or wire transfer, in each case in immediately available funds payable to or upon the order
of the Securities Intermediary. Any cash received by the Collateral Agent shall be invested promptly by the Securities Intermediary
in Permitted Investments and paid to the Company on the Purchase Contract Settlement Date in settlement of the Purchase Contracts
in accordance with the terms of this Agreement and the Pledge Agreement. Any funds received by the Securities Intermediary in respect
of the investment earnings from such Permitted Investments in excess of the Purchase Price for the shares of Common Stock to be
purchased by such Holder shall be distributed to the Purchase Contract Agent when received for payment to the Holder.</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">(iii) If a Holder of a Stock Purchase Unit
fails to notify the Purchase Contract Agent of his intention to make a Cash Settlement in accordance with paragraph 5.02(a)(i)
above, or does notify the Purchase Contract Agent as provided in paragraph 5.02(a)(i) above of his intention to pay the Purchase
Price in cash, but fails to make such payment as required by paragraph 5.02(a)(ii) above, such Holder shall be deemed to have consented
to the disposition of the Pledged Preferred Securities or the Pledged [Subordinated] Notes pursuant to the Remarketing as described
in paragraph 5.02(b) below.</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">(iv) Promptly after 11:00 a.m. (New York City
time) on the fifth Business Day preceding the Purchase Contract Settlement Date, the Purchase Contract Agent, based on notices
received by the Purchase Contract Agent pursuant to Section 5.02(a) hereof and notice from the Securities Intermediary regarding
cash received by it prior to such time, shall notify the Collateral Agent and the Property Trustee or the Indenture Trustee, as
applicable of the aggregate number of Preferred Securities or [Subordinated] Notes to be tendered for purchase in the Remarketing
in a notice substantially in the form of Exhibit F hereto.</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: 0.5in">(b) In order to dispose of the Preferred
Securities or [Subordinated] Notes, Stock Purchase Units Holders who have not notified the Purchase Contract Agent of their intention
to effect a Cash Settlement as provided in paragraph 5.02(a)(i) above, or who have so notified the Purchase Contract Agent but
failed to make such payment as required by paragraph 5.02(a)(ii) above, the Company shall engage _____________________, as Remarketing
Agent (the &quot;REMARKETING AGENT&quot;), pursuant to the Remarketing Agreement (and subject to removal as provided in the Remarketing
Agreement) to sell such Preferred Securities or [Subordinated] Notes. In order to facilitate the Remarketing, the Purchase Contract
Agent, based on the notices specified in Section 5.02(a)(iv), shall notify the Remarketing Agent, promptly after 11:00 a.m. (New
York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement Date, of the aggregate number
of Preferred Securities or [Subordinated] Notes that are part of Stock Purchase Units to be remarketed. Concurrently, the Collateral
Agent, pursuant to the terms of the Pledge Agreement, shall cause such Preferred Securities or [Subordinated] Notes to be presented
to the Remarketing Agent for Remarketing.</P>

<P STYLE="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">Upon receipt of such notice from the Purchase
Contract Agent and such Preferred Securities or [Subordinated] Notes, the Remarketing Agent shall, on the third Business Day immediately
preceding the Purchase Contract Settlement Date, use reasonable efforts to remarket such Preferred Securities or [Subordinated]
Notes on such date at a price equal to [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]% of the Stated Amount ($[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;])
per Preferred Security or [Subordinated] Note, as provided in the Remarketing Agreement. The proceeds from the Remarketing shall
be invested by the Collateral Agent in Permitted Investments, in accordance with the Pledge Agreement, and then applied to satisfy
in full such Stock Purchase Units Holders' obligations to pay the Purchase Price for the shares of Common Stock under the related
Purchase Contracts on the Purchase Contract Settlement Date. In addition, [$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] per
Preferred Security or [Subordinated] Note of the proceeds shall automatically be remitted to the Remarketing Agent for services
rendered in connection with the Remarketing (the &quot;REMARKETING FEE&quot;).</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, in spite of using its reasonable efforts,
the Remarketing Agent cannot remarket the related Preferred Securities or [Subordinated] Notes of such Holders of Stock Purchase
Units at a price equal to [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]% of the Stated Amount ($[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]),
then the Remarketing Agent shall increase the distribution rate on the Preferred Securities or the interest rate on the [Subordinated]
Notes, as the case may be, so that the market value of such Preferred Securities will equal ($[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]).
If the Remarketing Agent determines that it will be able to remarket the related Preferred Securities or [Subordinated] Notes of
such Holders of Stock Purchase Units at a price in excess of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]% of the Stated
Amount ($[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]), then the Remarketing Agent shall decrease the distribution rate on
the Preferred Securities or the interest rate on the [Subordinated] Notes, as the case may be, so that the market value of such
Preferred Securities or [Subordinated] Notes will be equal to [$ ]. If the Remarketing Agent cannot Remarket the Preferred Securities
or the [Subordinated] Notes, as the case may be, after such increase or decrease, the Remarketing shall be deemed to have failed
(a &quot;FAILED REMARKETING&quot;), an event of default shall be deemed to have occurred under this Agreement and the Pledge Agreement
and in accordance with the terms of the Pledge Agreement, the Collateral Agent, for the benefit of the Company, shall exercise
its rights as a secured party with respect to such Preferred Securities or [Subordinated] Notes, including those actions specified
in paragraph 5.02(c) below; PROVIDED, that if upon a Failed Remarketing the Collateral Agent exercises such rights for the benefit
of the Company with respect to such Preferred Securities or [Subordinated] Notes, any accrued and unpaid distributions on such
Preferred Securities or [Subordinated] Notes and any accrued and unpaid Purchase Contract Payments (including any deferred Purchase
Contract Payments) shall become payable by the Company to the Purchase Contract Agent for payment to the Beneficial Owner of the
Stock Purchase Units to which such Preferred Securities or [Subordinated] Notes relate. The Company shall cause a notice of such
Failed Remarketing to be published on the second Business Day immediately preceding the Purchase Contract Settlement Date in a
daily newspaper in the English language of general circulation in the City of New York, which is expected to be The Wall Street
Journal, and on Bloomberg News.</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: 0.5in">(c) With respect to any Preferred Securities
or [Subordinated] Notes which are subject to a Failed Remarketing, the Collateral Agent for the benefit of the Company reserves
all of its rights as a secured party with respect thereto and, subject to applicable law and paragraph 5.02(g) below, shall, in
full satisfaction of the Holders' obligations under the Purchase Contracts among other things, (i) retain the Preferred Securities
or [Subordinated] Notes, (ii) sell the Preferred Securities or [Subordinated] Notes in one or more public or private sales or (iii)
take, or choose not to take, any other action with respect to the Preferred Securities or the [Subordinated] Notes, which in every
case specified in (i), (ii) and (iii) shall constitute payment in full for the aggregate Purchase Price for the shares of Common
Stock to be purchased under the Purchase Contracts.</P>

<P STYLE="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">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Unless a Holder of a Treasury Stock Purchase
Unit or Stock Purchase Unit (if a Tax Event Redemption has occurred) effects an Early Settlement of the underlying Purchase Contract
through the early delivery of cash to the Purchase Contract Agent in the manner described in Section 5.07, each Holder of a Treasury
Stock Purchase Unit or Stock Purchase Unit (if a Tax Event Redemption has occurred) who intends to pay in cash shall notify the
Purchase Contract Agent by use of a notice in substantially the form of Exhibit E hereto of his intention to pay in cash the Purchase
Price for the shares of Common Stock to be purchased pursuant to the related Purchase Contract. Such notice shall be given prior
to 5:00 p.m. (New York City time) on the second Business Day immediately preceding the Purchase Contract Settlement Date. Prior
to 11:00 a.m. (New York City time) on the next succeeding Business Day, the Purchase Contract Agent shall notify the Collateral
Agent of the receipt of such notices from such Holders intending to make a Cash Settlement. Treasury Stock Purchase Unit holders
may make Cash Settlements only in integral multiples of 40 Treasury Stock Purchase Units.</P>

<P STYLE="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">(ii) A Holder of a Treasury Stock Purchase
Unit or Stock Purchase Units (if a Tax Event Redemption has occurred) who has so notified the Purchase Contract Agent of his intention
to make a Cash Settlement in accordance with paragraph 5.02(d)(i) above shall pay the Purchase Price to the Securities Intermediary
for deposit in the Collateral Account prior to 11:00 a.m. (New York City time) on the Business Day immediately preceding the Purchase
Contract Settlement Date, in lawful money of the United States by certified or cashiers' check or wire transfer, in each case in
immediately available funds payable to or upon the order of the Securities Intermediary. Any cash received by the Collateral Agent
shall be invested promptly by the Securities Intermediary in Permitted Investments and paid to the Company on the Purchase Contract
Settlement Date in settlement of the Purchase Contract in accordance with the terms of this Agreement and the Pledge Agreement.
Any funds received by the Securities Intermediary in respect of the investment earnings from the investment in such Permitted Investments
in excess of the Purchase Price for the shares of Common Stock to be purchased by such Holder shall be distributed to the Purchase
Contract Agent when received for payment to the Holder.</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">(iii) If a Holder of a Treasury Stock Purchase
Unit or Holder of a Stock Purchase Unit (if a Tax Event Redemption has occurred) fails to notify the Purchase Contract Agent of
his intention to make a Cash Settlement in accordance with paragraph 5.02(d)(i) above, or does notify the Purchase Contract Agent
as provided in paragraph 5.02(d)(i) above of his intention to pay the Purchase Price in cash, but fails to make such payment as
required by paragraph 5.02(d)(ii) above, then upon the maturity of the Pledged Treasury Securities or the appropriate Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio held by the Securities
Intermediary on the Business Day immediately preceding the Purchase Contract Settlement Date, the principal amount of the Treasury
Securities or the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the
Treasury Portfolio received by the Securities Intermediary shall be invested promptly in Permitted Investments. On the Purchase
Contract Settlement Date, an amount equal to the Purchase Price shall be remitted to the Company as payment thereof without receiving
any instructions from the Holder. In the event the sum of the proceeds from the related Pledged Treasury Securities or the appropriate
Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio and the investment
earnings earned from such investments is in excess of the aggregate Purchase Price of the Purchase Contracts being settled thereby,
the Collateral Agent shall cause the Securities Intermediary to distribute such excess to the Purchase Contract Agent for the benefit
of the Holder of the related Treasury Stock Purchase Unit or Stock Purchase Unit when received.</P>

<P STYLE="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">(iv) A holder of a Preferred Security or [Subordinated]
Note that is no longer part of a Stock Purchase Unit may elect to have such Preferred Security or [Subordinated] Note, as the case
may be, remarketed. A holder making such an election must notify the Property Trustee or the Indenture Trustee, as the case may
be, prior to 11:00 a.m. (New York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement Date,
of the aggregate number of Preferred Securities or [Subordinated] Notes, as the case may be, that are not part of Stock Purchase
Units to be remarketed. Any such notice will be irrevocable and may not be conditioned upon the level at which the Reset Rate is
established in the Remarketing. Concurrently, the Property Trustee or the Indenture Trustee, as the case may be, shall cause such
Preferred Securities or [Subordinated] Notes, as the case may be, to be presented to the Remarketing Agent for Remarketing.</P>

<P STYLE="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">(e) Any distribution to Holders of any payments
described above shall be payable at the office of the Purchase Contract Agent in New York City maintained for that purpose or,
at the option of the Holder, by check mailed to the address of the Person entitled thereto at such address as it appears on the
Security Register.</P>

<P STYLE="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">(f) Upon Cash Settlement of any Purchase
Contract:</P>

<P STYLE="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">(i) the Collateral Agent will in accordance
with the terms of the Pledge Agreement cause the Pledged Preferred Securities, Pledged [Subordinated] Notes, the appropriate Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio or the Pledged Treasury
Securities, as the case may be, underlying the relevant Security to be released from the Pledge, free and clear of any security
interest of the Company, and transferred to the Purchase Contract Agent for delivery to the Holder thereof or its designee as soon
as practicable; and</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">(ii) subject to the receipt thereof, the Purchase
Contract Agent shall, by book-entry transfer or other appropriate procedures, in accordance with written instructions provided
by the Holder thereof, transfer such Preferred Securities, [Subordinated] Notes, or the appropriate Applicable Ownership Interest
(as specified in clause (A) of the definition of such term) of the Treasury Portfolio or such Treasury Securities, as the case
may be (or, if no such instructions are given to the Purchase Contract Agent by the Holder, the Purchase Contract Agent shall hold
such Preferred Securities, [Subordinated] Notes, or the appropriate Applicable Ownership Interest (as specified in clause (A) of
the definition of such term) of the Treasury Portfolio or such Treasury Securities, as the case may be, and any interest payment
thereon, in the name of the Purchase Contract Agent or its nominee in trust for the benefit of such Holder until the expiration
of the time period specified in the abandoned property laws of the relevant state).</P>

<P STYLE="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">(g) The obligations of the Holders to pay
the Purchase Price are non-recourse obligations and, except to the extent satisfied by Early Settlement or Cash Settlement, are
payable solely out of the proceeds of any Collateral pledged to secure the obligations of the Holders and in no event will Holders
be liable for any deficiency between the proceeds of the disposition of Collateral and the Purchase Price.</P>

<P STYLE="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">(h) The Company shall not be obligated to
issue any shares of Common Stock in respect of a Purchase Contract or deliver any certificates thereof to the Holder of the related
Security unless the Company shall have received payment in full for the aggregate Purchase Price for the Common Stock to be purchased
thereunder in the manner herein set forth.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.03. ISSUANCE OF SHARES OF COMMON STOCK.</P>

<P STYLE="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">(a) Unless a Termination Event or an Early
Settlement shall have occurred, subject to Section 5.04(b), on the Purchase Contract Settlement Date upon receipt of the aggregate
Purchase Price payable on all Outstanding Securities, the Company shall issue and deposit with the Purchase Contract Agent, for
the benefit of the Holders of the Outstanding Securities, one or more certificates representing newly issued shares of Common Stock
registered in the name of the Purchase Contract Agent (or its nominee) as custodian for the Holders (such certificates for shares
of Common Stock, together with any dividends or distributions for which a record date and payment date for such dividend or distribution
has occurred after the Purchase Contract Settlement Date, being hereinafter referred to as the &quot;PURCHASE CONTRACT SETTLEMENT
FUND&quot;) to which the Holders are entitled hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Subject to the foregoing, upon surrender
of a Certificate to the Purchase Contract Agent on or after the Purchase Contract Settlement Date or Early Settlement Date, as
the case may be, together with settlement instructions thereon duly completed and executed, the Holder of such Certificate shall
be entitled to receive forthwith in exchange therefor a certificate representing that number of newly issued whole shares of Common
Stock which such Holder is entitled to receive pursuant to the provisions of this Article Five (after taking into account all Securities
then held by such Holder), together with cash in lieu of fractional shares as provided in Section 5.09 and any dividends or distributions
with respect to such shares constituting part of the Purchase Contract Settlement Fund, but without any interest thereon, and the
Certificate so surrendered shall forthwith be cancelled. Such shares shall be registered in the name of the Holder or the Holder's
designee as specified in the settlement instructions provided by the Holder to the Purchase Contract Agent. If any shares of Common
Stock issued in respect of a Purchase Contract are to be registered to a Person other than the Person in whose name the Certificate
evidencing such Purchase Contract is registered, no such registration shall be made unless the Person requesting such registration
has paid any transfer and other taxes required by reason of such registration in a name other than that of the registered Holder
of the Certificate evidencing such Purchase Contract or has established to the satisfaction of the Company that such tax either
has been paid or is not payable.</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">SECTION 5.04. ADJUSTMENT OF SETTLEMENT RATE.</P>

<P STYLE="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">(a) Adjustments for Dividends, Distributions,
Stock Splits, Etc.</P>

<P STYLE="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">(1) In case the Company shall pay or make
a dividend or other distribution on Common Stock in Common Stock, the Settlement Rate in effect at the opening of business on the
day following the date fixed for the determination of shareholders entitled to receive such dividend or other distribution shall
be increased by dividing such Settlement Rate by a fraction of which:</P>

<P STYLE="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: 1.5in">(i) the numerator shall be the number of
shares of Common Stock outstanding at the close of business on the date fixed for such determination; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) the denominator shall be the sum of
such number of shares and the total number of shares constituting such dividend or other distribution, such increase to become
effective immediately after the opening of business on the day following the date fixed for such determination. For the purposes
of this paragraph (1), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury
of the Company but shall include any shares issuable in respect of any scrip certificates issued in lieu of fractions of shares
of Common Stock. The Company shall not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) In case the Company shall issue rights,
warrants or options to all holders of its Common Stock (not being available on an equivalent basis to Holders of the Securities
upon settlement of the Purchase Contracts underlying such Securities) entitling them, for a period expiring within 45 days after
the record date for the determination of shareholders entitled to receive such rights, warrants or options, to subscribe for or
purchase shares of Common Stock at a price per share less than the Current Market Price per share of Common Stock on the date fixed
for the determination of shareholders entitled to receive such rights, warrants or options, the Settlement Rate in effect at the
opening of business on the day following the date fixed for such determination shall be increased by dividing such Settlement Rate
by a fraction of which:</P>

<P STYLE="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: 1.5in">(i) the numerator shall be the number of
shares of Common Stock outstanding at the close of business on the date fixed for such determination plus the number of shares
of Common Stock which the aggregate of the offering price of the total number of shares of Common Stock so offered for subscription
or purchase would purchase at such Current Market Price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) the denominator shall be the number
of shares of Common Stock outstanding at the close of business on the date fixed for such determination plus the number of shares
of Common Stock so offered for subscription or purchase,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">such increase to become effective immediately after the opening
of business on the day following the date fixed for such determination. For the purposes of this paragraph (2), the number of shares
of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include any shares
issuable in respect of any scrip certificates issued in lieu of fractions of shares of Common Stock. The Company agrees that it
shall not issue any such rights, warrants or options in respect of shares of Common Stock held in the treasury of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) In case outstanding shares of Common Stock
shall be subdivided or split into a greater number of shares of Common Stock, the Settlement Rate in effect at the opening of business
on the day following the day upon which such subdivision or split becomes effective shall be proportionately increased, and, conversely,
in case outstanding shares of Common Stock shall each be combined into a smaller number of shares of Common Stock, the Settlement
Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately
reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day
following the day upon which such subdivision, split or combination becomes effective.</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">(4) In case the Company shall, by dividend
or otherwise, distribute to all holders of its Common Stock evidences of its indebtedness or assets (including securities, but
excluding any rights, warrants or options referred to in paragraph (2) of this Section 5.04(a), any dividend or distribution paid
exclusively in cash and any dividend or distribution referred to in paragraph (1) of this Section 5.04(a)), the Settlement Rate
shall be adjusted so that the same shall equal the rate determined by dividing the Settlement Rate in effect immediately prior
to the close of business on the date fixed for the determination of shareholders entitled to receive such distribution by a fraction
of which:</P>

<P STYLE="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: 1.5in">(i) the numerator shall be the Current Market
Price per share of Common Stock on the date fixed for such determination less the then fair market value (as reasonably determined
by the Board of Directors, whose determination shall be conclusive and the basis for which shall be described in a Board Resolution)
of the portion of the assets or evidences of indebtedness so distributed applicable to one share of Common Stock; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) the denominator shall be such Current
Market Price per share of Common Stock, such adjustment to become effective immediately prior to the opening of business on the
day following the date fixed for the determination of shareholders entitled to receive such distribution. In any case in which
this paragraph (4) is applicable, paragraph (2) of this Section 5.04(a) shall not be applicable. In the event that such dividend
or distribution is not so paid or made, the Settlement Rate shall again be adjusted to be the Settlement Rate which would then
be in effect if such dividend or distribution had not been declared.</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">(5) In case the Company shall, by dividend
or otherwise, distribute to all holders of its Common Stock cash (excluding:</P>

<P STYLE="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: 1.5in">(i) any quarterly cash dividend on Common
Stock to the extent that the aggregate cash dividend per share of Common Stock in any fiscal quarter does not exceed $____ per
share (as adjusted from time to time to reflect the subdivisions or combinations of Common Stock, the &quot;DIVIDEND THRESHOLD&quot;),
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) any dividend or distribution in connection
with the liquidation, dissolution or termination of the Company, whether voluntary or involuntary),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">then, in such case, the Settlement Rate
shall be increased so that the same shall equal the rate determined by dividing the Settlement Rate in effect immediately prior
to the close of business on such record date by a fraction of which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i) the numerator shall be the Current Market
Price of Common Stock on the record date less the amount of cash so distributed (and not excluded as provided above) applicable
to one share of Common Stock; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) the denominator shall be the Current
Market Price of Common tock,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">such increase to be effective immediately prior to the opening
of business on the day following the record date; PROVIDED, HOWEVER, that in the event the portion of cash so distributed applicable
to one share of Common Stock is equal to or greater than the Current Market Price per share of Common Stock on the record date,
in lieu of the foregoing adjustment, adequate provision shall be made so that each holder of a Security shall have the right to
receive upon settlement of the Securities the amount of cash such Holder would have received had such Holder settled each Security
on the record date. In the event that such dividend or distribution is not so paid or made, the Settlement Rate shall again be
adjusted to be the Settlement Rate which would then be in effect if such dividend or distribution had not been declared. If any
adjustment is required to be made as set forth in this Section 5.04(a)(5) as a result of a distribution that is a quarterly dividend,
such adjustment shall be based upon the amount by which such distribution exceeds the amount of the Dividend Threshold. If an adjustment
is required to be made as set forth in this Section 5.04(a)(5) above as a result of a distribution that is not a quarterly dividend,
such adjustment shall be based upon the full amount of the distribution.</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">(6) In case a tender or exchange offer made
by the Company or any subsidiary of the Company for all or any portion of Common Stock shall expire and such tender or exchange
offer (as amended upon the expiration thereof) shall require the payment to shareholders (based on the acceptance (up to any maximum
specified in the terms of the tender or exchange offer) of Purchased Shares as herein defined) of (I) an aggregate consideration
having a fair market value (as reasonably determined by the Board of Directors, whose determination shall be conclusive and the
basis for which shall be described in a Board Resolution) that combined together with the aggregate of the cash plus the fair market
value (as reasonably determined by the Board of Directors, whose determination shall be conclusive and the basis for which shall
be described in a Board Resolution), as of the expiration of such tender or exchange offer, of consideration payable in respect
of any other tender or exchange offer, by the Company or any subsidiary of the Company for all or any portion of Common Stock expiring
within the 12 months preceding the expiration of such tender or exchange offer and in respect of which no adjustment pursuant to
this paragraph (6) has been made, and (II) the aggregate amount of any distributions to all holders of Common Stock made exclusively
in cash within the 12 months preceding the expiration of such tender or exchange offer and in respect of which no adjustment pursuant
to paragraph (6) has been made, exceeds 15% of the product of the Current Market Price per share of Common Stock as of the last
time (the &quot;EXPIRATION TIME&quot;) tenders could have been made pursuant to such tender or exchange offer (as it may be amended)
times the number of shares of Common Stock outstanding (including any tendered shares) on the Expiration Time, then, and in each
such case, immediately prior to the opening of business on the day after the date of the Expiration Time, the Settlement Rate shall
be adjusted so that the same shall equal the rate determined by dividing the Settlement Rate immediately prior to the close of
business on the date of the Expiration Time by a fraction:</P>

<P STYLE="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: 1.5in">(i) the numerator of which shall be equal
to (A) the product of (I) the Current Market Price per share of Common Stock on the date of the Expiration Time and (II) the number
of shares of Common Stock outstanding (including any tendered shares) on the Expiration Time less (B) the amount of cash plus the
fair market value (determined as aforesaid) of the aggregate consideration payable to shareholders based on the transactions described
in clauses (I) and (II) above (assuming in the case of clause (I) the acceptance, up to any maximum specified in the terms of the
tender or exchange offer, of Purchased Shares); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) the denominator of which shall be equal
to the product of (A) the Current Market Price per share of Common Stock as of the Expiration Time and (B) the number of shares
of Common Stock outstanding (including any tendered shares) as of the Expiration Time less the number of all shares validly tendered
and not withdrawn as of the Expiration Time (the shares deemed so accepted, up to any such maximum, being referred to as the &quot;PURCHASED
SHARES&quot;).</P>

<P STYLE="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">(7) The reclassification of Common Stock into
securities including securities other than Common Stock (other than any reclassification upon a Reorganization Event to which Section
5.04(b) applies) shall be deemed to involve:</P>

<P STYLE="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: 1.5in">(i) a distribution of such securities other
than Common Stock to all holders of Common Stock (and the effective date of such reclassification shall be deemed to be &quot;the
date fixed for the determination of shareholders entitled to receive such distribution&quot; and the &quot;date fixed for such
determination&quot; within the meaning of paragraph (4) of this Section); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) a subdivision, split or combination,
as the case may be, of the number of shares of Common Stock outstanding immediately prior to such reclassification into the number
of shares of Common Stock outstanding immediately thereafter (and the effective date of such reclassification shall be deemed to
be &quot;the day upon which such subdivision or split becomes effective&quot; or &quot;the day upon which such combination becomes
effective&quot;, as the case may be, and &quot;the day upon which such subdivision, split or combination becomes effective&quot;
within the meaning of paragraph (3) of this Section).</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">(8) The &quot;CURRENT MARKET PRICE&quot; per
share of Common Stock on any date of determination means the average of the daily Closing Prices for the five consecutive Trading
Days selected by the Company commencing not more than 30 Trading Days before, and ending not later than, the earlier of such date
of determination and the day before the &quot;ex date&quot; with respect to the issuance or distribution requiring such computation.
For purposes of this paragraph, the term &quot;ex date,&quot; when used with respect to any issuance or distribution, shall mean
the first date on which Common Stock trades on such exchange or in such market without the right to receive such issuance or distribution.</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">(9) All adjustments to the Settlement Rate
shall be calculated to the nearest 1/10,000th of a share of Common Stock (or if there is not a nearest 1/10,000th of a share, to
the next lower 1/10,000th of a share). No adjustment in the Settlement Rate shall be required unless such adjustment would require
an increase or decrease of at least one percent thereof; PROVIDED, HOWEVER, that any adjustments which by reason of this subparagraph
are not required to be made shall be carried forward and taken into account in any subsequent adjustment. If an adjustment is made
to the Settlement Rate pursuant to paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.04(a), an adjustment shall
also be made to the Applicable Market Value solely to determine which of clauses (i), (ii) or (iii) of the definition of Settlement
Rate in Section 5.01 will apply on the Purchase Contract Settlement Date. Such adjustment shall be made by multiplying the Applicable
Market Value by a fraction of which the numerator shall be the Settlement Rate immediately after such adjustment pursuant to paragraph
(1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.04(a) and the denominator shall be the Settlement Rate immediately
prior to such adjustment; PROVIDED, HOWEVER, that if such adjustment to the Settlement Rate is required to be made pursuant to
the occurrence of any of the events contemplated by paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.04(a)
during the period taken into consideration for determining the Applicable Market Value, appropriate and customary adjustments shall
be made to the Settlement Rate.</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">(10) The Company may, but shall not be required
to, make such increases in the Settlement Rate, in addition to those required by this Section, as it considers to be advisable
in order to avoid or diminish any income tax to any holders of shares of Common Stock resulting from any dividend or distribution
of stock or issuance of rights or warrants to purchase or subscribe for stock or from any event treated as such for income tax
purposes or for any other reason.</P>

<P STYLE="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">(b) Adjustment for Consolidation, Merger
or Other Reorganization Event.</P>

<P STYLE="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">(1) In the event of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i) any consolidation or merger of the Company
with or into another person (other than a merger or consolidation in which the Company is the continuing corporation and in which
the shares of Common Stock outstanding immediately prior to the merger or consolidation are not exchanged for cash, securities
or other property of the Company or another corporation);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii) any sale, transfer, lease or conveyance
to another Person of the property of the Company as an entirety or substantially as an entirety;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(iii) any statutory share exchange of the
Company with another Person (other than in connection with a merger or acquisition); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(iv) any liquidation, dissolution or termination
of the Company other than as a result of or after the occurrence of a Termination Event, (any such event, a &quot;REORGANIZATION
EVENT&quot;),</P>

<P STYLE="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 Settlement Rate will be adjusted to provide that each Holder
of Securities will receive on the Purchase Contract Settlement Date with respect to each Purchase Contract forming a part thereof,
the kind and amount of securities, cash and other property receivable upon such Reorganization Event (without any interest thereon,
and without any right to dividends or distribution thereon which have a record date that is prior to the Purchase Contract Settlement
Date) by a Holder of the number of shares of Common Stock issuable on account of each Purchase Contract if the Purchase Contract
Settlement Date had occurred immediately prior to such Reorganization Event, assuming such Holder of Common Stock is not a Person
with which the Company consolidated or into which the Company merged or which merged into the Company or to which such sale or
transfer was made, as the case may be (any such Person, a &quot;CONSTITUENT PERSON&quot;), or an Affiliate of a Constituent Person
to the extent such Reorganization Event provides for different treatment of Common Stock held by Affiliates of the Company and
non-affiliates and such Holder failed to exercise his rights of election, if any, as to the kind or amount of securities, cash
and other property receivable upon such Reorganization Event (PROVIDED that if the kind or amount of securities, cash and other
property receivable upon such Reorganization Event is not the same for each share of Common Stock held immediately prior to such
Reorganization Event by other than a Constituent Person or an Affiliate thereof and in respect of which such rights of election
shall not have been exercised (&quot;NON-ELECTING SHARE&quot;), then for the purpose of this Section the kind and amount of securities,
cash and other property receivable upon such Reorganization Event by each non-electing share shall be deemed to be the kind and
amount so receivable per share by a plurality of the non-electing shares).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In the event of such a Reorganization Event,
the Person formed by such consolidation, merger or exchange or the Person which acquires the assets of the Company or, in the event
of a liquidation, dissolution or termination of the Company, the Company or a liquidating trust created in connection therewith,
shall execute and deliver to the Purchase Contract Agent an agreement supplemental hereto providing that each Holder of an Outstanding
Security shall have the rights provided by this Section 5.04(b). Such supplemental agreement shall provide for adjustments which,
for events subsequent to the effective date of such supplemental agreement, shall be as nearly equivalent as may be practicable
to the adjustments provided for in this Section. The above provisions of this Section shall similarly apply to successive Reorganization
Events.</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">(2) In the event of a consolidation or merger
of the Company with or into another Person, any merger of another Person into the Company (other than a merger that does not result
in any reclassification, conversion, exchange or cancellation of outstanding shares of Common Stock) in which 30% or more of the
total consideration paid to the Company's shareholders consists of cash or cash equivalents, then a Holder of a Security may settle
his Purchase Contract for cash as described in Section 5.02(a)(i) or 5.02(d)(i) hereof, as applicable, during the one week period
beginning on the twenty-third Trading Day following the closing date of such merger (the &quot;EARLY SETTLEMENT WEEK&quot;), at
the applicable Settlement Rate. For the purposes of this Section, the twenty-third Trading Day after the closing of the merger
or consolidation shall be deemed to be the Purchase Contract Settlement Date for the purpose of determining the Applicable Market
Value and the deadline for submitting the notice to settle early and the related cash payment shall be 5:00 p.m. (New York City
time) of the last Business Day of the Early Settlement Week. Notwithstanding the foregoing, no early settlement will be permitted
under this Section 5.04(b)(2) unless, at the time such early settlement is effected, there is an effective Registration Statement
with respect to the shares of Common Stock to be issued and delivered in connection with such early settlement, if such a Registration
Statement is required (in the view of counsel, which need not be in the form of a written opinion, for either the Company or the
Purchase Contract Agent) under the Securities Act. If such a Registration Statement is so required, the Company covenants and agrees
to use its best efforts to (A) have in effect a Registration Statement covering the shares of Common Stock to be delivered in respect
of the Purchase Contracts being settled and (B) provide a Prospectus in connection therewith, in each case in a form that the Purchase
Contract Agent may use in connection with such early settlement.</P>

<P STYLE="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">(c) All calculations and determinations
pursuant to this Section 5.04 shall be made by the Company or its agent and the Purchase Contract Agent shall have no responsibility
with respect thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.05. NOTICE OF ADJUSTMENTS AND CERTAIN OTHER EVENTS.</P>

<P STYLE="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">(a) Whenever the Settlement Rate is adjusted
as herein provided, the Company shall:</P>

<P STYLE="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">(i) forthwith compute the adjusted Settlement
Rate in accordance with Section 5.04 and prepare and transmit to the Purchase Contract Agent an Officers' Certificate setting forth
the Settlement Rate, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which
such adjustment is based; and</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">(ii) within 10 Business Days following the
occurrence of an event that requires an adjustment to the Settlement Rate pursuant to Section 5.04 (or if the Company is not aware
of such occurrence, as soon as practicable after becoming so aware), provide a written notice to the Holders of the Securities
of the occurrence of such event and a statement in reasonable detail setting forth the method by which the adjustment to the Settlement
Rate was determined and setting forth the adjusted Settlement Rate.</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: 0.5in">(b) The Purchase Contract Agent shall not
at any time be under any duty or responsibility to any Holder of Securities to determine whether any facts exist which may require
any adjustment of the Settlement Rate, or with respect to the nature or extent or calculation of any such adjustment when made,
or with respect to the method employed in making the same. The Purchase Contract Agent shall not be accountable with respect to
the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities or property, which may at the
time be issued or delivered with respect to any Purchase Contract; and the Purchase Contract Agent makes no representation with
respect thereto. The Purchase Contract Agent shall not be responsible for any failure of the Company to issue, transfer or deliver
any shares of Common Stock pursuant to a Purchase Contract or to comply with any of the duties, responsibilities or covenants of
the Company contained in this Article.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.06. TERMINATION EVENT; NOTICE.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) The Purchase Contracts and all obligations
and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the
obligation of the Company to pay any Purchase Contract Payments (including any deferred or accrued and unpaid Purchase Contract
Payments), if the Company shall have such obligation, and the rights and obligations of Holders to purchase Common Stock, shall
immediately and automatically terminate, without the necessity of any notice or action by any Holder, the Purchase Contract Agent
or the Company, if, prior to or on the Purchase Contract Settlement Date, a Termination Event shall have occurred.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) Upon and after the occurrence of a Termination
Event, the Securities shall thereafter represent the right to receive the Preferred Securities, the [Subordinated] Notes, the Treasury
Securities or the appropriate Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming part of such
Securities, in accordance with the provisions of Section 5.04 of the Pledge Agreement. Upon the occurrence of a Termination Event,
the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Purchase Contract
Agent, the Collateral Agent and the Holders, at their addresses as they appear in the Security Register.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.07. EARLY SETTLEMENT.</P>

<P STYLE="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">(a) Subject to and upon compliance with
the provisions of this Section 5.07, at the option of the Holder thereof, Purchase Contracts underlying Securities may be settled
early (&quot;EARLY SETTLEMENT&quot;) on or prior to 5:00 p.m. (New York City time) on the seventh Business Day immediately preceding
the Purchase Contract Settlement Date. Holders of Treasury Stock Purchase Units may only settle the related Purchase Contracts
in integral multiples of 40 Purchase Contracts. In order to exercise the right to effect Early Settlement with respect to any Purchase
Contracts, the Holder of the Certificate evidencing Securities shall deliver to the Purchase Contract Agent at the Corporate Trust
Office an &quot;Election to Settle Early&quot; form (on the reverse side of the Certificate) and any other documents requested
by the Purchase Contract Agent and accompanied by payment (payable to the Company in immediately available funds) in an amount
(the &quot;EARLY SETTLEMENT AMOUNT&quot;) equal to the product of (i) (A) the Stated Amount times (B) the number of Purchase Contracts
with respect to which the Holder has elected to effect Early Settlement, plus (ii) if such delivery is made with respect to any
Purchase Contracts during the period from the close of business on any Record Date next preceding any Payment Date to the opening
of business on such Payment Date, an amount equal to the Purchase Contract Payments payable on such Payment Date with respect to
such Purchase Contracts.</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">Except as provided in the immediately preceding
sentence and subject to Section 5.11(c), no payment shall be made upon Early Settlement of any Purchase Contract on account of
any Purchase Contract Payments accrued on such Purchase Contract or on account of dividends payable on the Common Stock issued
upon such Early Settlement, the record date for which payment occurs prior to the Early Settlement Date. If the foregoing requirements
are first satisfied with respect to Purchase Contracts underlying any Securities prior to or at 5:00 p.m. (New York City time)
on a Business Day, such day shall be the &quot;EARLY SETTLEMENT DATE&quot; with respect to such Securities and if such requirements
are first satisfied after 5:00 p.m. (New York City time) on a Business Day or on a day that is not a Business Day, the &quot;EARLY
SETTLEMENT DATE&quot; with respect to such Securities shall be the next succeeding Business Day (so long as such next succeeding
Business Day is not later than the seventh Business Day immediately preceding the Purchase Contract Settlement Date).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) No Early Settlement will be permitted
under this Section 5.07 unless, at the time of delivery of the Election to Settle Early form or time the Early Settlement is effected,
there is an effective Registration Statement with respect to the shares of Common Stock to be issued and delivered in connection
with such Early Settlement, if such a Registration Statement is required (in the view of counsel, which need not be in the form
of a written opinion, for either the Company or the Purchase Contract Agent) under the Securities Act. If such a Registration Statement
is so required, the Company covenants and agrees to use its best efforts to (A) have in effect a Registration Statement covering
the shares of Common Stock to be delivered in respect of the Purchase Contracts being settled and (B) provide a Prospectus in connection
therewith, in each case in a form that the Purchase Contract Agent may use in connection with such Early Settlement.</P>

<P STYLE="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">(c) Upon Early Settlement of Purchase Contracts
by a Holder of the related Securities, the Company shall issue, and the Holder shall be entitled to receive _______ share of Common
Stock on account of each Purchase Contract as to which Early Settlement is effected (the &quot;EARLY SETTLEMENT RATE&quot;). The
Early Settlement Rate shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted.</P>

<P STYLE="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">(d) Not later than the third Business Day
after the applicable Early Settlement Date, the Company shall cause:</P>

<P STYLE="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">(i) the shares of Common Stock issuable upon
Early Settlement of Purchase Contracts to be issued and delivered, together with payment in lieu of any fraction of a share, as
provided in Section 5.09; and</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">(ii) the related Preferred Securities, [Subordinated]
Notes or the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury
Portfolio, in the case of Stock Purchase Units, or the related Treasury Securities, in the case of Treasury Stock Purchase Units,
to be released from the Pledge by the Collateral Agent and transferred, in each case, to the Purchase Contract Agent for delivery
to the Holder thereof or its designee.</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: 0.5in">(e) Upon Early Settlement of any Purchase
Contracts, and subject to receipt of shares of Common Stock from the Company and the Preferred Securities, [Subordinated] Notes,
the appropriate Applicable Ownership Interest as specified in clause (A) of the definition of such term) of the Treasury Portfolio,
or Treasury Securities, as the case may be, from the Securities Intermediary, as applicable, the Purchase Contract Agent shall,
in accordance with the instructions provided by the Holder thereof on the Election to Settle Early form (on the reverse of the
Certificate evidencing the related Securities):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) transfer to the Holder the Preferred Securities,
[Subordinated] Notes, the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term)
of the Treasury Portfolio or Treasury Securities, as the case may be, forming a part of such Securities;</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">(ii) deliver to the Holder a certificate or
certificates for the full number of shares of Common Stock issuable upon such Early Settlement, together with payment in lieu of
any fraction of a share, as provided in Section 5.09; and</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">(iii) if so required under the Securities
Act, deliver a Prospectus for the shares of Common Stock issuable upon such Early Settlement as contemplated by Section 5.07(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">(f) In the event that Early Settlement is
effected with respect to Purchase Contracts underlying less than all the Securities evidenced by a Certificate, upon such Early
Settlement the Company shall execute and the Purchase Contract Agent shall authenticate, countersign and deliver to the Holder
thereof, at the expense of the Company, a Certificate evidencing the Securities as to which Early Settlement was not effected.</P>

<P STYLE="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">(g) A Holder of a Security who effects Early
Settlement may elect to have the Preferred Securities or [Subordinated] Notes, as the case may be, no longer a part of a Stock
Purchase Unit remarketed. A Holder making such an election must notify the Property Trustee or the Indenture Trustee, as the case
may be, prior to 11:00 a.m. (New York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement
Date, of the aggregate number of Preferred Securities or [Subordinated] Notes that are not part of Stock Purchase Units to be remarketed.
Any such notice will be irrevocable and may not be conditioned upon the level at which the Reset Rate is established in the Remarketing.
Concurrently, the Property Trustee or the Indenture Trustee, as the case may be, shall cause such Preferred Securities or [Subordinated]
Notes, as the case may be, to be presented to the Remarketing Agent for Remarketing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.08. INTENTIONALLY OMITTED.</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">SECTION 5.09. NO FRACTIONAL SHARES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No fractional shares or scrip representing
fractional shares of Common Stock shall be issued or delivered upon settlement on the Purchase Contract Settlement Date or upon
Early Settlement of any Purchase Contracts. If Certificates evidencing more than one Purchase Contract shall be surrendered for
settlement at one time by the same Holder, the number of full shares of Common Stock which shall be delivered upon settlement shall
be computed on the basis of the aggregate number of Purchase Contracts evidenced by the Certificates so surrendered. Instead of
any fractional share of Common Stock which would otherwise be deliverable upon settlement of any Purchase Contracts on the Purchase
Contract Settlement Date or upon Early Settlement, the Company, through the Purchase Contract Agent, shall make a cash payment
in respect of such fractional interest in an amount equal to the value of such fractional shares times the Applicable Market Value.
The Company shall provide the Purchase Contract Agent from time to time with sufficient funds to permit the Purchase Contract Agent
to make all cash payments required by this Section 5.09 in a timely manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.10. CHARGES AND TAXES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will pay all stock transfer
and similar taxes attributable to the initial issuance and delivery of the shares of Common Stock pursuant to the Purchase Contracts;
PROVIDED, HOWEVER, that the Company shall not be required to pay any such tax or taxes which may be payable in respect of any exchange
of or substitution for a Certificate evidencing a Security or any issuance of a share of Common Stock in a name other than that
of the registered Holder of a Certificate surrendered in respect of the Securities evidenced thereby, other than in the name of
the Purchase Contract Agent, as custodian for such Holder, and the Company shall not be required to issue or deliver such share
certificates or Certificates unless or until the Person or Persons requesting the transfer or issuance thereof shall have paid
to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.11. PURCHASE CONTRACT PAYMENTS.</P>

<P STYLE="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">(a) Subject to Section 5.12, the Company
shall pay, on each Payment Date, the Purchase Contract Payments payable in respect of each Purchase Contract to the Person in whose
name a Certificate is registered at the close of business on the Record Date next preceding such Payment Date. The Purchase Contract
Payments will be payable at the office of the Purchase Contract Agent in New York City maintained for that purpose or, at the option
of the Holder, by check mailed to the address of the Person entitled thereto at such Person's address as it appears on the Security
Register. If any date on which Purchase Contract Payments are to be made is not a Business Day, then payment of the Purchase Contract
Payments payable on such date will be made on the next succeeding day that is a Business Day (and without any interest in respect
of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment will be made on the
immediately preceding Business Day. Purchase Contract Payments payable for any period will be computed (i) for any full quarterly
period on the basis of a 360-day year of twelve 30-day months and (ii) for any period shorter than a full quarterly period, on
the basis of a 30-day month and, for periods of less than a month, on the basis of the actual number of days elapsed per 30-day
month.</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: 0.5in">(b) Upon the occurrence of a Termination
Event, the Company's obligation to pay future Purchase Contract Payments (including any accrued or deferred Purchase Contract Payments)
shall cease.</P>

<P STYLE="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">(c) Each Certificate delivered under this
Agreement upon registration of transfer of or in exchange for or in lieu of (including as a result of a Collateral Substitution
or the reestablishment of Stock Purchase Units) any other Certificate shall carry the right to accrued or deferred and unpaid Purchase
Contract Payments and the right to accrue Purchase Contract Payments, which rights were carried by the Purchase Contracts underlying
such other Certificates.</P>

<P STYLE="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">(d) Subject to Section 5.07, in the case
of any Security with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date
that is after any Record Date and prior to or on the next succeeding Payment Date, Purchase Contract Payments otherwise payable
on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement, and such Purchase Contract Payments
shall be paid to the Person in whose name the Certificate evidencing such Security is registered at the close of business on such
Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security with respect
to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date, Purchase Contract Payments
that would otherwise be payable after the Early Settlement Date with respect to such Purchase Contract shall not be payable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 5.12. DEFERRAL OF PURCHASE CONTRACT PAYMENTS.</P>

<P STYLE="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">(a) The Company has the right to defer payment
of all or part of the Purchase Contract Payments in respect of each Purchase Contract until no later than the Purchase Contract
Settlement Date, but only if the Company shall give the Holders and the Purchase Contract Agent written notice of its election
to defer such payment (specifying the amount to be deferred) at least ten Business Days prior to the earlier of (i) the next succeeding
Payment Date or (ii) the date the Company is required to give notice of the Record Date or Payment Date with respect to payment
of such Purchase Contract Payments to the NYSE or other applicable self-regulatory organization or to Holders of the Securities,
but in any event not less than one Business Day prior to such Record Date. If the Company so elects to defer Purchase Contract
Payments, the Company shall pay additional Purchase Contract Payments on such deferred installments of Purchase Contract Payments
at a rate equal to ___% per annum, compounding quarterly, until such deferred installments are paid in full. Deferred Purchase
Contract Payments shall be due on the Payment Date except to the extent that payment is deferred pursuant to this Section. Except
as otherwise provided in Section 5.11(d), in the case of any Security with respect to which Early Settlement of the underlying
Purchase Contract is effected on an Early Settlement Date, the Holder will have no right to receive any accrued or deferred Purchase
Contract Payments.</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: 0.5in">(b) In the event the Company elects to defer
the payment of Purchase Contract Payments on the Purchase Contracts until the Purchase Contract Settlement Date, each Holder will
receive on the Purchase Contract Settlement Date the aggregate amount of accrued and unpaid Purchase Contract Payments. The Company
shall pay such amounts on the Purchase Contract Settlement Date in the manner described in Section 5.02(e).</P>

<P STYLE="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">(c) In the event the Company exercises its
option to defer the payment of Purchase Contract Payments, then, until all deferred Purchase Contract Payments have been paid,
the Company shall not (a) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt
securities that rank junior to the [Subordinated] Notes in the right of payment issued by the Company, or (b) make any guarantee
payments with respect to any guarantee by the Company of any securities of any of its subsidiaries if such guarantee ranks junior
to the [Subordinated] Notes in the right of payment, (c) declare or pay any dividends or distributions on any of the Company's
capital stock or (d) redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock.
Notwithstanding the foregoing, the Company may (1) purchase or acquire its capital stock in connection with the satisfaction by
it of its obligations under any employee benefit plans or pursuant to any contract or security outstanding on the first day of
any such event requiring it to purchase its capital stock; (2) reclassify its capital stock or exchange or convert one class or
series of its capital stock for another class or series of its capital stock; (3) purchase fractional interests in shares of its
capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged;
(4) declare dividends or distributions in its capital stock; (5) redeem or repurchase any rights pursuant to a rights agreement;
and (6) make payments under the Guarantee related to the Preferred Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE 6</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">REMEDIES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 6.01. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PURCHASE
CONTRACT PAYMENTS AND TO PURCHASE SHARES OF COMMON STOCK.</P>

<P STYLE="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">Each Holder of a Security shall have the
right, which is absolute and unconditional, (i) subject to the right of the Company to defer such payments in accordance with Section
5.12, to receive each Purchase Contract Payment with respect to the Purchase Contract comprising part of such Security on the respective
Payment Date for such Security and (ii) to purchase shares of Common Stock pursuant to such Purchase Contract and, in each such
case, to institute suit for the enforcement of any such right to receive Purchase Contract Payments and the right to purchase shares
of Common Stock, and such rights shall not be impaired without the consent of such Holder.</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">SECTION 6.02. RESTORATION OF RIGHTS AND REMEDIES.</P>

<P STYLE="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">If any Holder has instituted any proceeding
to enforce any right or remedy under this Agreement and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to such Holder, then and in every such case, subject to any determination in such proceeding, the Company
and such Holder shall be restored severally and respectively to their former positions hereunder and thereafter all rights and
remedies of such Holder shall continue as though no such proceeding had been instituted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 6.03. RIGHTS AND REMEDIES CUMULATIVE.</P>

<P STYLE="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">Except as otherwise provided with respect
to the replacement or payment of mutilated, destroyed, lost or stolen Certificates in the last paragraph of Section 3.10, no right
or remedy herein conferred upon or reserved to the Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 6.04. DELAY OR OMISSION NOT WAIVER.</P>

<P STYLE="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">No delay or omission of any Holder to exercise
any right or remedy upon a default shall impair any such right or remedy or constitute a waiver of any such right. Every right
and remedy given by this Article or by law to the Holders may be exercised from time to time, and as often as may be deemed expedient,
by such Holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 6.05. UNDERTAKING FOR COSTS.</P>

<P STYLE="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">All parties to this Agreement agree, and
each Holder of a Security, by its acceptance of such Security shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this Agreement, or in any suit against the Purchase Contract
Agent for any action taken, suffered or omitted by it as Purchase Contract Agent, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys' fees and costs against any party litigant in such suit, having due regard to the merits and good faith of the claims
or defenses made by such party litigant; PROVIDED that the provisions of this Section shall not apply to any suit instituted by
the Purchase Contract Agent, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10%
of the Outstanding Securities, or to any suit instituted by any Holder for the enforcement of distributions on any Preferred Securities
or interest on any [Subordinated] Notes or Purchase Contract Payments on or after the respective Payment Date therefor in respect
of any Security held by such Holder, or for enforcement of the right to purchase shares of Common Stock under the Purchase Contracts
constituting part of any Security held by such Holder.</P>

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

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


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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 6.06. WAIVER OF STAY OR EXTENSION LAWS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants (to the extent that
it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit
or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants
or the performance of this Agreement; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit
or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to
the Purchase Contract Agent or the Holders, but will suffer and permit the execution of every such power as though no such law
had been enacted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">ARTICLE 7</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.01. CERTAIN DUTIES AND RESPONSIBILITIES.</P>

<P STYLE="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">(a) The Purchase Contract Agent:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) undertakes to perform, with respect
to the Securities, such duties and only such duties as are specifically set forth in this Agreement and the Pledge Agreement, and
no implied covenants or obligations shall be read into this Agreement or the Pledge Agreement against the Purchase Contract Agent;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) in the absence of bad faith or gross
negligence on its part, may, with respect to the Securities, conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Purchase Contract Agent and conforming to the
requirements of this Agreement or the Pledge Agreement, as applicable, but in the case of any certificates or opinions which by
any provision hereof are specifically required to be furnished to the Purchase Contract Agent, the Purchase Contract Agent shall
be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement or the Pledge
Agreement, as applicable (but need not confirm or investigate the accuracy of the mathematical calculations or other facts stated
therein).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) No provision of this Agreement or the
Pledge Agreement shall be construed to relieve the Purchase Contract Agent from liability for its own grossly negligent action,
its own grossly negligent failure to act, or its own willful misconduct, except that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) this Subsection shall not be construed
to limit the effect of Subsection (a) of this Section;</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">(2) the Purchase Contract Agent shall not
be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Purchase Contract
Agent was negligent in ascertaining the pertinent facts;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) no provision of this Agreement or the
Pledge Agreement shall require the Purchase Contract Agent to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if indemnity satisfactory
to the Purchase Contract Agent is not provided to it; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(4) the Purchase Contract Agent shall not
be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders
of a majority in principal amount of the Outstanding Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) Whether or not therein expressly so
provided, every provision of this Agreement and the Pledge Agreement relating to the conduct or affecting the liability of or affording
protection to the Purchase Contract Agent shall be subject to the provisions of this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) The Purchase Contract Agent is authorized
to execute and deliver the Pledge Agreement in its capacity as Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.02. NOTICE OF DEFAULT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Within 30 days after the occurrence of any
default by the Company hereunder of which a Responsible Officer of the Purchase Contract Agent has actual knowledge, the Purchase
Contract Agent shall transmit by mail to the Company and the Holders of Securities, as their names and addresses appear in the
Security Register, notice of such default hereunder, unless such default shall have been cured or waived.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.03. CERTAIN RIGHTS OF PURCHASE CONTRACT AGENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) Subject to the provisions of Section
7.01:</P>

<P STYLE="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">(1) the Purchase Contract Agent may conclusively
rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, [Subordinated] Note, note, other evidence of indebtedness or
other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;</P>

<P STYLE="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">(2) any request or direction of the Company
mentioned herein shall be sufficiently evidenced by an Officers' Certificate, Issuer Order or Issuer Request, and any resolution
of the Board of Directors of the Company may be sufficiently evidenced by a Board Resolution;</P>

<P STYLE="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">(3) whenever in the administration of this
Agreement or the Pledge Agreement the Purchase Contract Agent shall deem it desirable that a matter be proved or established prior
to taking, suffering or omitting any action hereunder, the Purchase Contract Agent (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers' Certificate of the Company;</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">(4) the Purchase Contract Agent may consult
with counsel of its selection appointed with due care by it hereunder and the advice of such counsel or any opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon;</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">(5) the Purchase Contract Agent shall not
be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Purchase Contract Agent, in its discretion, and at the expense of the Company, may make reasonable further inquiry or investigation
into such facts or matters related to the execution, delivery and performance of the Purchase Contracts as it may see fit, and,
if the Purchase Contract Agent shall determine to make such further inquiry or investigation, it shall be given a reasonable opportunity
to examine the relevant books, records and premises of the Company, personally or by agent or attorney and shall incur no liability
or additional liability of any kind by reason of such inquiry or investigation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(6) the Purchase Contract Agent may execute
any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys or an Affiliate
and the Purchase Contract Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney
or an Affiliate appointed with due care by it hereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(7) the Purchase Contract Agent shall be
under no obligation to exercise any of the rights or powers vested in it by this Agreement at the request or direction of any of
the Holders pursuant to this Agreement, unless such Holders shall have offered to the Purchase Contract Agent security or indemnity
satisfactory to the Purchase Contract Agent against the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction;</P>

<P STYLE="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">(8) the Purchase Contract Agent shall not
be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(9) the Purchase Contract Agent shall not
be deemed to have notice of any default hereunder unless a Responsible Officer of the Purchase Contract Agent has actual knowledge
thereof or unless written notice of any event which is in fact such a default is received by the Purchase Contract Agent at the
Corporate Trust Office of the Purchase Contract Agent, and such notice references the Securities and this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(10) the Purchase Contract Agent may request
that the Company deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at
such time to take specified actions pursuant to this Agreement, which Officers' Certificate may be signed by any person authorized
to sign an Officers' Certificate, including any person specified as so authorized in any such certificate previously delivered
and not superseded; and</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">(11) the rights, privileges, protections,
immunities and benefits given to the Purchase Contract Agent, including, without limitation, its right to be indemnified, are extended
to, and shall be enforceable by, the Purchase Contract Agent in each of its capacities hereunder, and to each agent, custodian
and other Person employed to act hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.04. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The recitals contained herein and in the
Certificates shall be taken as the statements of the Company, and the Purchase Contract Agent assumes no responsibility for their
accuracy. The Purchase Contract Agent makes no representations as to the validity or sufficiency of either this Agreement or of
the Securities, or of the Pledge Agreement or the Pledge. The Purchase Contract Agent shall not be accountable for the use or application
by the Company of the proceeds in respect of the Purchase Contracts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.05. MAY HOLD SECURITIES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security Registrar or any other agent
of the Company, or the Purchase Contract Agent and its Affiliates, in their individual or any other capacity, may become the owner
or pledgee of Securities and may otherwise deal with the Company, the Collateral Agent or any other Person with the same rights
it would have if it were not Security Registrar or such other agent, or the Purchase Contract Agent. The Company may become the
owner or pledgee of Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.06. MONEY HELD IN CUSTODY.</P>

<P STYLE="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">Money held by the Purchase Contract Agent
in custody hereunder need not be segregated from the other funds except to the extent required by law or provided herein. The Purchase
Contract Agent shall be under no obligation to invest or pay interest on any money received by it hereunder except as otherwise
provided hereunder or agreed in writing with the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.07. COMPENSATION AND REIMBURSEMENT.</P>

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

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

<P STYLE="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">(1) to pay to the Purchase Contract Agent
compensation for all services rendered by it hereunder and under the Pledge Agreement as the Company and the Purchase Contract
Agent shall from time to time agree in writing;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) except as otherwise expressly provided
for herein, to reimburse the Purchase Contract Agent upon its request for all reasonable expenses, disbursements and advances incurred
or made by the Purchase Contract Agent in accordance with any provision of this Agreement and the Pledge Agreement (including the
reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or
advance as may be attributable to its gross negligence, willful misconduct or bad faith; and</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">(3) to indemnify the Purchase Contract Agent
and any predecessor Purchase Contract Agent for, and to hold it harmless against, any loss, liability or expense incurred without
gross negligence, willful misconduct or bad faith on its part, arising out of or in connection with the acceptance or administration
of its duties hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company,
a Holder or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The provisions of this Section shall survive the resignation
and removal of the Purchase Contract Agent and the termination of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.08. CORPORATE PURCHASE CONTRACT AGENT REQUIRED; ELIGIBILITY.</P>

<P STYLE="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">There shall at all times be a Purchase Contract
Agent hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State
thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having (or being a member of
a bank holding company having) a combined capital and surplus of at least $50,000,000, subject to supervision or examination by
Federal or State authority and having a corporate trust office in the Borough of Manhattan, New York City, if there be such a corporation
in the Borough of Manhattan, New York City, qualified and eligible under this Article and willing to act on reasonable terms. If
such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Purchase
Contract Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.09. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.</P>

<P STYLE="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">(a) No resignation or removal of the Purchase
Contract Agent and no appointment of a successor Purchase Contract Agent pursuant to this Article shall become effective until
the acceptance of appointment by the successor Purchase Contract Agent in accordance with the applicable requirements of Section
7.10.</P>

<P STYLE="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">(b) The Purchase Contract Agent may resign
at any time by giving written notice thereof to the Company 60 days prior to the effective date of such resignation. If the instrument
of acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have been delivered to the Purchase Contract
Agent within 30 days after the giving of such notice of resignation, the resigning Purchase Contract Agent may petition, at the
expense of the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent.</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: 0.5in">(c) The Purchase Contract Agent may be removed
at any time by Act of the Holders of a majority in number of the Outstanding Securities delivered to the Purchase Contract Agent
and the Company. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have
been delivered to the Purchase Contract Agent within 30 days after the giving of such notice of resignation, the resigning Purchase
Contract Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor
Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) If at any time:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) the Purchase Contract Agent fails to
comply with Section 310(b) of the TIA, as if the Purchase Contract Agent were an indenture trustee under an indenture qualified
under the TIA, after written request therefore by the Company or by any Holder who has been a bona fide Holder of a Security for
at least six months;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) the Purchase Contract Agent shall cease
to be eligible under Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder;
or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) the Purchase Contract Agent shall become
incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Purchase Contract Agent or of its property
shall be appointed or any public officer shall take charge or control of the Purchase Contract Agent or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">then, in any such case, (i) the Company
by a Board Resolution may remove the Purchase Contract Agent, or (ii) any Holder who has been a bona fide Holder of a Security
for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Purchase Contract Agent and the appointment of a successor Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e) If the Purchase Contract Agent shall
resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Purchase Contract Agent for any
cause, the Company, by a Board Resolution, shall promptly appoint a successor Purchase Contract Agent and shall comply with the
applicable requirements of Section 7.10. If no successor Purchase Contract Agent shall have been so appointed by the Company and
accepted appointment in the manner required by Section 7.10, any Holder who has been a bona fide Holder of a Security for at least
six months, on behalf of itself and all others similarly situated, or the Purchase Contract Agent may petition at the expense of
the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f) The Company shall give, or shall cause
such successor Purchase Contract Agent to give, notice of each resignation and each removal of the Purchase Contract Agent and
each appointment of a successor Purchase Contract Agent by mailing written notice of such event by first-class mail, postage prepaid,
to all Holders as their names and addresses appear in the applicable Register. Each notice shall include the name of the successor
Purchase Contract Agent and the address of its Corporate Trust Office.</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">SECTION 7.10. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.</P>

<P STYLE="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">(a) In case of the appointment hereunder
of a successor Purchase Contract Agent, every such successor Purchase Contract Agent so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Purchase Contract Agent an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Purchase Contract Agent shall become effective and such successor Purchase Contract Agent,
without any further act, deed or conveyance, shall become vested with all the rights, powers, agencies and duties of the retiring
Purchase Contract Agent; but, on the request of the Company or the successor Purchase Contract Agent, such retiring Purchase Contract
Agent shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Purchase Contract Agent
all the rights, powers and trusts of the retiring Purchase Contract Agent and shall duly assign, transfer and deliver to such successor
Purchase Contract Agent all property and money held by such retiring Purchase Contract Agent hereunder.</P>

<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; text-indent: 0.5in">(b) Upon request of any such successor Purchase
Contract Agent, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such
successor Purchase Contract Agent all such rights, powers and agencies referred to in paragraph 7.10(a) of this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) No successor Purchase Contract Agent
shall accept its appointment unless at the time of such acceptance such successor Purchase Contract Agent shall be qualified and
eligible under this Article.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.11. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION
TO BUSINESS.</P>

<P STYLE="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">Any corporation into which the Purchase
Contract Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Purchase Contract Agent shall be a party, or any corporation succeeding to all or substantially all
the corporate trust business of the Purchase Contract Agent, shall be the successor of the Purchase Contract Agent hereunder, PROVIDED
that such corporation shall be otherwise qualified and eligible under this Article, with the execution or filing of any paper or
any further act on the part of any of the parties hereto. In case any Certificates shall have been authenticated and executed on
behalf of the Holders, but not delivered, by the Purchase Contract Agent then in office, any successor by merger, conversion or
consolidation to such Purchase Contract Agent may adopt such authentication and execution and deliver the Certificates so authenticated
and executed with the same effect as if such successor Purchase Contract Agent had itself authenticated and executed such Securities.</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">SECTION 7.12. PRESERVATION OF INFORMATION; COMMUNICATIONS TO
HOLDERS.</P>

<P STYLE="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">(a) The Purchase Contract Agent shall preserve,
in as current a form as is reasonably practicable, the names and addresses of Holders received by the Purchase Contract Agent in
its capacity as Security Registrar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) If three or more Holders (herein referred
to as &quot;applicants&quot;) apply in writing to the Purchase Contract Agent, and furnish to the Purchase Contract Agent reasonable
proof that each such applicant has owned a Security for a period of at least six months preceding the date of such application,
and such application states that the applicants desire to communicate with other Holders with respect to their rights under this
Agreement or under the Securities and is accompanied by a copy of the form of proxy or other communication which such applicants
propose to transmit, then the Purchase Contract Agent shall mail to all the Holders copies of the form of proxy or other communication
which is specified in such request, with reasonable promptness after a tender to the Purchase Contract Agent of the materials to
be mailed and of payment, or provision for the payment, of the reasonable expenses of such mailing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.13. NO OBLIGATIONS OF PURCHASE CONTRACT AGENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except to the extent otherwise expressly
provided in this Agreement, the Purchase Contract Agent assumes no obligations and shall not be subject to any liability under
this Agreement, the Pledge Agreement or any Purchase Contract in respect of the obligations of the Holder of any Security thereunder.
The Company agrees, and each Holder of a Certificate, by his or her acceptance thereof, shall be deemed to have agreed, that the
Purchase Contract Agent's execution of the Certificates on behalf of the Holders shall be solely as agent and attorney-in-fact
for the Holders, and that the Purchase Contract Agent shall have no obligation to perform such Purchase Contracts on behalf of
the Holders, except to the extent expressly provided in Article Five hereof. Anything contained in this Agreement to the contrary
notwithstanding, in no event shall the Purchase Contract Agent or its officers, employees or agents be liable under this Agreement
to any third party for indirect, special, punitive, or consequential loss or damage of any kind whatsoever, including lost profits,
whether or not the likelihood of such loss or damage was known to the Purchase Contract Agent, incurred without any act or deed
that is found to be attributable to gross negligence or willful misconduct on the part of the Purchase Contract Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 7.14. TAX COMPLIANCE.</P>

<P STYLE="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">(a) The Company and the Purchase Contract
Agent will comply with all applicable certification, information reporting and withholding (including &quot;backup&quot; withholding)
requirements imposed by applicable tax laws, regulations or administrative practice with respect to (i) any payments made with
respect to the Securities or (ii) the issuance, delivery, holding, transfer, redemption or exercise of rights under the Securities.
Such compliance shall include, without limitation, the preparation and timely filing of required returns and the timely payment
of all amounts required to be withheld to the appropriate taxing authority or its designated agent.</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: 0.5in">(b) The Purchase Contract Agent shall comply
in accordance with the terms hereof with any written direction received from the Company with respect to the execution or certification
of any required documentation and the application of such requirements to particular payments or Holders or in other particular
circumstances, and may for purposes of this Agreement conclusively rely on any such direction in accordance with the provisions
of Section 7.01(a)(2) hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) The Purchase Contract Agent shall maintain
all appropriate records documenting compliance with such requirements, and shall make such records available, on written request,
to the Company or its authorized representative within a reasonable period of time after receipt of such request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">ARTICLE 8</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 8.01. SUPPLEMENTAL AGREEMENTS WITHOUT CONSENT OF HOLDERS.</P>

<P STYLE="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">Without the consent of any Holders, the
Company and the Purchase Contract Agent, at any time and from time to time, may enter into one or more agreements supplemental
hereto, in form satisfactory to the Company and the Purchase Contract Agent, to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) evidence the succession of another Person
to the Company, and the assumption by any such successor of the covenants of the Company herein and in the Certificates;</P>

<P STYLE="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">(2) evidence and provide for the acceptance
of appointment hereunder by a successor Purchase Contract Agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) add to the covenants of the Company
for the benefit of the Holders, or surrender any right or power herein conferred upon the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(4) make provision with respect to the rights
of Holders pursuant to the requirements of Section 5.04(b); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5) except as provided for in Section 5.04,
cure any ambiguity, correct or supplement any provisions herein which may be inconsistent with any other provisions herein, or
make any other provisions with respect to such matters or questions arising under this Agreement, PROVIDED that such action shall
not adversely affect the interests of the Holders.</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">SECTION 8.02. SUPPLEMENTAL AGREEMENTS WITH CONSENT OF HOLDERS.</P>

<P STYLE="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">With the consent of the Holders of not less
than a majority of the outstanding Securities voting together as one class, by Act of said Holders delivered to the Company and
the Purchase Contract Agent, the Company, when authorized by a Board Resolution, and the Purchase Contract Agent may enter into
an agreement or agreements supplemental hereto for the purpose of modifying in any manner the terms of the Purchase Contracts,
or the provisions of this Agreement or the rights of the Holders in respect of the Securities; PROVIDED, HOWEVER, that, except
as contemplated herein, no such supplemental agreement shall, without the unanimous consent of the Holders of each outstanding
Purchase Contract affected thereby,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) change the amount or the type of Collateral
required to be Pledged to secure a Holder's obligations under the Purchase Contract, impair the right of the Holder of any Purchase
Contract to receive distributions on the related Collateral (except for the rights of Holders of Stock Purchase Units to substitute
Treasury Securities for the Pledged Preferred Securities or Pledged [Subordinated] Notes or the rights of Holders of Treasury Stock
Purchase Units to substitute Preferred Securities or [Subordinated] Notes for the Pledged Treasury Securities) or otherwise adversely
affect the Holder's rights in or to such Collateral or adversely alter the rights in or to such Collateral;</P>

<P STYLE="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">(3) impair the right to institute suit for
the enforcement of any urchase Contract;</P>

<P STYLE="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">(4) reduce the number of shares of Common
Stock to be purchased pursuant to any Purchase Contract, increase the price to purchase shares of Common Stock upon settlement
of any Purchase Contract or change the Purchase Contract Settlement Date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5) reduce the percentage of the outstanding
Purchase Contracts the consent of whose Holders is required for any such supplemental agreement; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(6) reduce any Purchase Contract Payments
or change any place where, or the coin or currency in which, any Purchase Contract Payment is payable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PROVIDED that if any amendment or proposal referred to above
would adversely affect only the Stock Purchase Units or the Treasury Stock Purchase Units, then only the affected class of Holders
as of the record date for the Holders entitled to vote thereon will be entitled to vote on such amendment or proposal, and such
amendment or proposal shall not be effective except with the consent of Holders of not less than a majority of such class; and
PROVIDED, FURTHER, that the unanimous consent of the Holders of each outstanding Purchase Contract of such class affected thereby
shall be required to approve any amendment or proposal specified in clauses (1) through (6) above.</P>

<P STYLE="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">It shall not be necessary for any Act of
Holders under this Section to approve the particular form of any proposed supplemental agreement, but it shall be sufficient if
such Act shall approve the substance thereof.</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">SECTION 8.03. EXECUTION OF SUPPLEMENTAL AGREEMENTS.</P>

<P STYLE="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">In executing, or accepting the additional
agencies created by, any supplemental agreement permitted by this Article or the modifications thereby of the agencies created
by this Agreement, the Purchase Contract Agent shall be provided, and (subject to Section 7.01) shall be fully protected in relying
upon, an Officers' Certificate and an Opinion of Counsel stating that the execution of such supplemental agreement is authorized
or permitted by this Agreement and that any and all conditions precedent to the execution and delivery of such supplemental agreement
have been satisfied. The Purchase Contract Agent may, but shall not be obligated to, enter into any such supplemental agreement
which affects the Purchase Contract Agent's own rights, duties or immunities under this Agreement or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 8.04. EFFECT OF SUPPLEMENTAL AGREEMENTS.</P>

<P STYLE="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">Upon the execution of any supplemental agreement
under this Article, this Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part
of this Agreement for all purposes; and every Holder of Certificates theretofore or thereafter authenticated, executed on behalf
of the Holders and delivered hereunder, shall be bound thereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 8.05. REFERENCE TO SUPPLEMENTAL AGREEMENTS.</P>

<P STYLE="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">Certificates authenticated, executed on
behalf of the Holders and delivered after the execution of any supplemental agreement pursuant to this Article may, and shall if
required by the Purchase Contract Agent, bear a notation in form approved by the Purchase Contract Agent as to any matter provided
for in such supplemental agreement. If the Company shall so determine, new Certificates so modified as to conform, in the opinion
of the Purchase Contract Agent and the Company, to any such supplemental agreement may be prepared and executed by the Company
and authenticated, executed on behalf of the Holders and delivered by the Purchase Contract Agent in exchange for outstanding Certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">ARTICLE 9</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 9.01. COVENANT NOT TO CONSOLIDATE, MERGE, CONVEY, TRANSFER
OR LEASE PROPERTY EXCEPT UNDER CERTAIN CONDITIONS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants that it will not consolidate
with or merge into any other corporation or convey, transfer or lease all or substantially all of its properties and assets to
any Person, unless:</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">(i) the corporation formed by such consolidation
or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, all or substantially
all of the Company's properties and assets shall be a corporation organized and existing under the laws of the United States of
America or a State thereof or the District of Columbia and such corporation shall expressly assume all the obligations of the Company
under the Purchase Contracts, this Agreement and the Pledge Agreement by one or more supplemental agreements in form reasonably
satisfactory to the Purchase Contract Agent and the Collateral Agent, executed and delivered to the Purchase Contract Agent and
the Collateral Agent by such corporation; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) the Company or such successor corporation,
as the case may be, shall not, immediately after such consolidation, merger, conveyance, transfer or lease, be in default in the
performance of any covenant or condition hereunder, under any of the Securities or under the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 9.02. RIGHTS AND DUTIES OF SUCCESSOR CORPORATION.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such merger, consolidation,
share exchange, sale, assignment, transfer, lease or conveyance and upon any such assumption by a successor corporation in accordance
with Section 9.01, such successor corporation shall succeed to and be substituted for the Company with the same effect as if it
had been named herein as the Company. Such successor corporation thereupon may cause to be signed, and may issue either in its
own name or in the name of WidePoint Corporation, any or all of the Certificates evidencing Securities issuable hereunder which
theretofore shall not have been signed by the Company and delivered to the Purchase Contract Agent; and, upon the order of such
successor corporation, instead of the Company, and subject to all the terms, conditions and limitations in this Agreement prescribed,
the Purchase Contract Agent shall authenticate and execute on behalf of the Holders and deliver any Certificates which previously
shall have been signed and delivered by the officers of the Company to the Purchase Contract Agent for authentication and execution,
and any Certificate evidencing Securities which such successor corporation thereafter shall cause to be signed and delivered to
the Purchase Contract Agent for that purpose. All the Certificates issued shall in all respects have the same legal rank and benefit
under this Agreement as the Certificates theretofore or thereafter issued in accordance with the terms of this Agreement as though
all of such Certificates had been issued at the date of the execution hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such merger, consolidation,
share exchange, sale, assignment, transfer, lease or conveyance such change in phraseology and form (but not in substance) may
be made in the Certificates evidencing Securities thereafter to be issued as may be appropriate.</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">SECTION 9.03. OFFICERS' CERTIFICATE AND OPINION OF COUNSEL GIVEN
TO PURCHASE CONTRACT AGENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Contract Agent, subject to
Sections 7.01 and 7.03, shall receive an Officers' Certificate and an Opinion of Counsel as conclusive evidence that any such merger,
consolidation, share exchange, sale, assignment, transfer, lease or conveyance, and any such assumption, complies with the provisions
of this Article and that all conditions precedent to the consummation of any such merger, consolidation, share exchange, sale,
assignment, transfer, lease or conveyance have been met.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 10.01. PERFORMANCE UNDER PURCHASE CONTRACTS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants and agrees for the
benefit of the Holders from time to time of the Securities that it will duly and punctually perform its obligations under the Purchase
Contracts in accordance with the terms of the Purchase Contracts and this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 10.02. MAINTENANCE OF OFFICE OR AGENCY.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will maintain in the Borough
of Manhattan, New York City an office or agency where Certificates may be presented or surrendered for acquisition of shares of
Common Stock upon settlement of the Purchase Contracts on the Purchase Contract Settlement Date or Early Settlement and for transfer
of Collateral upon occurrence of a Termination Event, where Certificates may be surrendered for registration of transfer or exchange,
for a Collateral Substitution or reestablishment of Stock Purchase Units and where notices and demands to or upon the Company in
respect of the Securities and this Agreement may be served. The Company will give prompt written notice to the Purchase Contract
Agent of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Purchase Contract Agent with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Company hereby appoints the Purchase
Contract Agent as its agent to receive all such presentations, surrenders, notices and demands.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may also from time to time designate
one or more other offices or agencies where Certificates may be presented or surrendered for any or all such purposes and may from
time to time rescind such designations; PROVIDED, HOWEVER, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in the Borough of Manhattan, New York City for such purposes. The Company
will give prompt written notice to the Purchase Contract Agent of any such designation or rescission and of any change in the location
of any such other office or agency. The Company hereby designates as the place of payment for the Securities the Corporate Trust
Office and appoints the Purchase Contract Agent at its Corporate Trust Office as paying agent in such city.</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">SECTION 10.03. COMPANY TO RESERVE COMMON STOCK.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall at all times prior to
the Purchase Contract Settlement Date reserve and keep available, free from preemptive rights, out of its authorized but unissued
Common Stock the full number of shares of Common Stock issuable against tender of payment in respect of all Purchase Contracts
constituting a part of the Securities evidenced by Outstanding Certificates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 10.04. COVENANTS AS TO COMMON STOCK.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants that all shares of
Common Stock which may be issued against tender of payment in respect of any Purchase Contract constituting a part of the Outstanding
Securities will, upon issuance, be duly authorized, validly issued, fully paid and nonassessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECTION 10.05. STATEMENTS OF OFFICERS OF THE COMPANY AS TO DEFAULT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will deliver to the Purchase
Contract Agent, within 120 days after the end of each fiscal year of the Company (which as of the date hereof is December 31) ending
after the date hereof, an Officers' Certificate (one of the signers of which shall be the principal executive officer, principal
financial officer or principal accounting officer of the Company), stating whether or not to the knowledge of the signers thereof
the Company is in default in the performance and observance of any of the terms, provisions and conditions hereof, and if the Company
shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge.</P>

<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">SECTION 10.06. ERISA.</P>

<P STYLE="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">Each Holder from time to time of the Securities
that is a Plan hereby represents that its acquisition of the Stock Purchase Units and the holding of the same satisfies the applicable
fiduciary requirements of ERISA and that it is entitled to exemption relief from the prohibited transaction provisions of ERISA
and the Code in accordance with one or more prohibited transaction exemptions or otherwise will not result in a nonexempt prohibited
transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">[SIGNATURES ON THE FOLLOWING PAGE]</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: 0.5in">IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be duly executed as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">WIDEPOINT CORPORATION</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">as Purchase Contract Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</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>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">[THIS CERTIFICATE IS A GLOBAL CERTIFICATE
WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE &quot;DEPOSITARY&quot;), OR A NOMINEE OF THE DEPOSITARY. THIS CERTIFICATE IS EXCHANGEABLE
FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS CERTIFICATE (OTHER THAN A TRANSFER OF THIS CERTIFICATE AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE
OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND
ANY PAYMENT HEREON IS MADE TO CEDE &amp; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE &amp; CO., HAS AN INTEREST HEREIN.]</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%">CUSIP No._____________</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">Number of Stock Purchase Units:______________</P>

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

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

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

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

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

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

<P STYLE="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">This Stock Purchase Units Certificate certifies
that ___________________ is the registered Holder of the number of Stock Purchase Units set forth above. Each Stock Purchase Unit
consists of (i) either (a) the beneficial ownership by the Holder of one Preferred Security (the &quot;PREFERRED SECURITY&quot;)
of ___________Trust, a Delaware statutory trust (the &quot;TRUST&quot;), having a stated liquidation amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , subject to the
Pledge of such Preferred Security by such Holder pursuant to the Pledge Agreement, or (b) upon the occurrence of a Tax Event Redemption
prior to the Purchase Contract Settlement Date, the appropriate Applicable Ownership Interest (as specified in clause (A) of the
definition of such term) of the Treasury Portfolio by such Holder pursuant to the Pledge Agreement, and (ii) the rights and obligations
of the Holder under one Purchase Contract with WidePoint Corporation., a Delaware corporation (the &quot;COMPANY&quot;). All capitalized
terms used herein which are defined in the Purchase Contract Agreement (as defined on the reverse hereof) have the meaning set
forth therein.</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: 0.5in">Pursuant to the Pledge Agreement, the Preferred
Securities or the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the
Treasury Portfolio, as the case may be, constituting part of each Stock Purchase Unit evidenced hereby has been pledged to the
Collateral Agent, for the benefit of the Company, to secure the obligations of the Holder under the Purchase Contract comprising
part of such Stock Purchase Unit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Pledge Agreement provides that all payments
of the liquidation amount with respect to any of the Pledged Preferred Securities or the appropriate Applicable Ownership Interest
(as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, or cash distributions
on any Pledged Preferred Securities (as defined in the Pledge Agreement) or the appropriate Applicable Ownership Interest (as specified
in clause (B) of the definition of such term) of the Treasury Portfolio, as the case may be, constituting part of the Stock Purchase
Units received by the Securities Intermediary shall be paid by wire transfer in same day funds (i) in the case of (A) cash distributions
with respect to Pledged Preferred Securities or the appropriate Applicable Ownership Interest (as specified in clause (B) of the
definition of such term) of the Treasury Portfolio, as the case may be, and (B) any payments of the liquidation amount with respect
to any Preferred Securities or the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such
term) of the Treasury Portfolio, as the case may be, that have been released from the Pledge pursuant to the Pledge Agreement,
to the Purchase Contract Agent to the account designated by the Purchase Contract Agent, no later than 2:00 p.m., New York City
time, on the Business Day such payment is received by the Securities Intermediary (PROVIDED that in the event such payment is received
by the Securities Intermediary on a day that is not a Business Day or after 12:30 p.m., New York City time, on a Business Day,
then such payment shall be made no later than 10:30 a.m., New York City time, on the next succeeding Business Day) and (ii) in
the case of payments of the liquidation amount with respect to any of the Pledged Preferred Securities or the appropriate Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, to the Company on the
Purchase Contract Settlement Date (as described herein) in accordance with the terms of the Pledge Agreement, in full satisfaction
of the respective obligations of the Holders of the Stock Purchase Units of which such Pledged Preferred Securities or the Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, are
a part under the Purchase Contracts forming a part of such Stock Purchase Units. Distributions on any Preferred Security or the
appropriate Applicable Ownership Interest (as specified in clause (B) of the definition of such term) of the Treasury Portfolio,
as the case may be, forming part of a Stock Purchase Unit evidenced hereby, which are payable quarterly in arrears on _______________,
___________________, ________________, and ________________ of each year, commencing ______________, 20____ (a &quot;PAYMENT DATE&quot;),
shall, subject to receipt thereof by the Purchase Contract Agent from the Securities Intermediary, be paid to the Person in whose
name this Stock Purchase Unit Certificate (or a Predecessor Stock Purchase Unit Certificate) is registered at the close of business
on the Record Date for such Payment Date.</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: 0.5in">Each Purchase Contract evidenced hereby
obligates the Holder of this Stock Purchase Units Certificate to purchase, and the Company to sell, on _________________ (the &quot;PURCHASE
CONTRACT SETTLEMENT DATE&quot;), at a price equal to $25 (the &quot;STATED AMOUNT&quot;), a number of shares of Common Stock, without
par value (&quot;COMMON STOCK&quot;), of the Company, equal to the Settlement Rate, unless on or prior to the Purchase Contract
Settlement Date there shall have occurred a Termination Event or an Early Settlement with respect to the Stock Purchase Unit of
which such Purchase Contract is a part, all as provided in the Purchase Contract Agreement and more fully described on the reverse
hereof. The purchase price (the &quot;PURCHASE PRICE&quot;) for the shares of Common Stock purchased pursuant to each Purchase
Contract evidenced hereby, if not paid earlier, shall be paid on the Purchase Contract Settlement Date by application of payment
received in respect of the liquidation amount with respect to any Pledged Preferred Securities pursuant to the Remarketing or the
appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio,
as the case may be, pledged to secure the obligations under such Purchase Contract of the Holder of the Stock Purchase Unit of
which such Purchase Contract is a part.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay, on each Payment Date,
in respect of each Purchase Contract forming part of a Stock Purchase Unit evidenced hereby, an amount (the &quot;PURCHASE CONTRACT
PAYMENTS&quot;) equal to ___% per year of the Stated Amount. Such Purchase Contract Payments shall be payable to the Person in
whose name this Stock Purchase Units Certificate is registered at the close of business on the Record Date for such Payment Date.
The Company may, at its option, defer such Purchase Contract Payments.</P>

<P STYLE="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">Distributions on the Preferred Securities
and the Applicable Ownership Interest (as specified in clause (B) of the definition of such term) and the Purchase Contract Payments
will be payable at the office of the Purchase Contract Agent in New York City or, at the option of the Company, by check mailed
to the address of the Person entitled thereto as such address appears on the Security Register.</P>

<P STYLE="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">Reference is hereby made to the further
provisions set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.</P>

<P STYLE="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">Unless the certificate of authentication
hereon has been executed by the Purchase Contract Agent by manual signature, this Stock Purchase Units Certificate shall not be
entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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">WIDEPOINT CORPORATION</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HOLDER SPECIFIED ABOVE (as to obligations of such Holder under
the Purchase Contracts)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">By:[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ],</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">not individually but solely as Attorney-in-Fact of such Holder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">DATED:</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This is one of the Stock Purchase Units Certificates referred
to in the within mentioned Purchase Contract Agreement.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">By:[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ],</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">as Purchase Contract Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 22%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Authorized Signatory</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">Dated:</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&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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<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-top: 0pt; text-align: center; margin-bottom: 0pt">(FORM OF REVERSE OF STOCK PURCHASE UNITS
CERTIFICATE)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Purchase Contract evidenced hereby
is governed by a Purchase Contract Agreement, dated as of _____________, 20___ (as may be supplemented from time to time, the &quot;PURCHASE
CONTRACT AGREEMENT&quot;), between the Company and [ ], as Purchase Contract Agent (including its successors hereunder, the &quot;PURCHASE
CONTRACT AGENT&quot;), to which Purchase Contract Agreement and supplemental agreements thereto reference is hereby made for a
description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract
Agent, the Company, and the Holders and of the terms upon which the Stock Purchase Units Certificates are, and are to be, executed
and delivered.</P>

<P STYLE="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">Unless a Cash Settlement or an Early Settlement
has occurred, each Purchase Contract evidenced hereby obligates the Holder of this Stock Purchase Units Certificate to purchase,
and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the &quot;PURCHASE PRICE&quot;),
a number of shares of Common Stock equal to the Settlement Rate, unless, prior to or on the Purchase Contract Settlement Date,
there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part or an Early
Settlement shall have occurred. The &quot;SETTLEMENT RATE&quot; is equal to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) if the Applicable Market Value (as defined
below) is greater than or equal to $______ (the &quot;THRESHOLD APPRECIATION PRICE&quot;), _____ shares of Common Stock per Purchase
Contract;</P>

<P STYLE="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">(2) if the Applicable Market Value is less
than the Threshold Appreciation Price but greater than $______ (the &quot;REFERENCE PRICE&quot;), the number of shares of Common
Stock per Purchase Contract having a value, based on the Applicable Market Value, equal to $25; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) if the Applicable Market Value is less
than or equal to the Reference Price, _____ share of Common Stock per Purchase Contract,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">in each case subject to adjustment as provided in the Purchase
Contract Agreement (and in each case rounded upward or downward to the nearest 1/10,000<SUP>th</SUP> of a share).</P>

<P STYLE="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">No fractional shares of Common Stock will
be issued upon settlement of Purchase Contracts, as provided in Section 5.09 of the Purchase Contract Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Purchase Contract evidenced hereby,
which is settled either through Early Settlement or Cash Settlement, shall obligate the Holder of the related Stock Purchase Unit
to purchase at the Purchase Price, and the Company to sell, a number of shares of Common Stock equal to the Early Settlement Rate
or Settlement Rate, as applicable.</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: 0.5in">The &quot;APPLICABLE MARKET VALUE&quot;
means the average of the Closing Price per share of Common Stock on each of the 20 consecutive Trading Days ending on the third
Trading Day immediately preceding the Purchase Contract Settlement Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The &quot;CLOSING PRICE&quot; per share
of Common Stock on any date of determination means:</P>

<P STYLE="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">(1) the closing sale price as of the close
of the principal trading session (or, if no closing price is reported, the last reported sale price) per share on the New York
Stock Exchange, Inc. (the &quot;NYSE&quot;) on such date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) if Common Stock is not listed for trading
on the NYSE on any such date, the closing sale price per share as reported in the composite transactions for the principal United
States securities exchange on which Common Stock is so listed;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) if Common Stock is not so listed on
a United States national or regional securities exchange, the closing sale price per share as reported by The Nasdaq National Market;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(4) if Common Stock is not so reported,
the last quoted bid price for Common Stock in the over-the-counter market as reported by the National Quotation Bureau or similar
organization; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5) if such bid price is not available,
the average of the mid-point of the last bid and ask prices of Common Stock on such date from at least three nationally recognized
independent investment banking firms retained for this purpose by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A &quot;TRADING DAY&quot; means a day on
which Common Stock (1) is not suspended from trading on any national or regional securities exchange or association or over-the-counter
market at the close of business and (2) has traded at least once on the national or regional securities exchange or association
or over-the-counter market that is the primary market for the trading of Common Stock.</P>

<P STYLE="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">In accordance with the terms of the Purchase
Contract Agreement, the Holder of this Stock Purchase Units Certificate may pay the Purchase Price for the shares of Common Stock
purchased pursuant to each Purchase Contract evidenced hereby by effecting a Cash Settlement or an Early Settlement or from the
proceeds of the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio
or a Remarketing of the related Pledged Preferred Securities. A Holder of Stock Purchase Units who does not effect, on or prior
to 11:00 a.m. (New York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement Date (or in
the event a Tax Event Redemption has occurred, the Business Day prior to the Purchase Contract Settlement Date), an effective Cash
Settlement, or who does not effect on or prior to 5:00 p.m. (New York City time) on the seventh Business Day prior to the Purchase
Contract Settlement Date an effective Early Settlement, shall pay the Purchase Price for the shares of Common Stock to be delivered
under the related Purchase Contract from the proceeds of the sale of the related Pledged Preferred Securities held by the Collateral
Agent. Such sale will be made by the Remarketing Agent pursuant to the terms of the Remarketing Agreement on the third Business
Day prior to the Purchase Contract Settlement Date. If, as provided in the Purchase Contract Agreement, upon the occurrence of
a Failed Remarketing, the Collateral Agent, for the benefit of the Company, exercises its rights as a secured creditor with respect
to the Pledged Preferred Securities related to this Stock Purchase Units certificate, any accrued and unpaid distributions on such
Pledged Preferred Securities will become payable by the Company to the holder of this Stock Purchase Units Certificate in the manner
provided for in the Purchase Contract Agreement.</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: 0.5in">The Company shall not be obligated to issue
any shares of Common Stock in respect of a Purchase Contract or deliver any certificates therefor to the Holder unless it shall
have received payment of the aggregate purchase price for the shares of Common Stock to be purchased thereunder in the manner herein
set forth.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Purchase Contract evidenced hereby
and all obligations and rights of the Company and the Holder thereunder shall terminate if a Termination Event shall occur. Upon
the occurrence of a Termination Event, the Company shall give written notice to the Purchase Contract Agent and to the Holders,
at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the Collateral
Agent shall release the Pledged Preferred Security or the appropriate Applicable Ownership Interest (as specified in clause (A)
of the definition of such term) of the Treasury Portfolio forming a part of each Stock Purchase Unit from the Pledge. A Stock Purchase
Unit shall thereafter represent the right to receive the Preferred Security or the appropriate Applicable Ownership Interest of
the Treasury Portfolio forming a part of such Stock Purchase Unit in accordance with the terms of the Purchase Contract Agreement
and the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the terms of the Pledge Agreement,
the Purchase Contract Agent will be entitled to exercise the voting and any other consensual rights pertaining to the Pledged Preferred
Securities. Upon receipt of notice of any meeting at which holders of Preferred Securities are entitled to vote or upon the solicitation
of consents, waivers or proxies of holders of Preferred Securities, the Purchase Contract Agent shall, as soon as practicable thereafter,
mail to the Stock Purchase Units Holders a notice:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) containing such information as is contained
in the notice or solicitation;</P>

<P STYLE="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">(2) stating that each Stock Purchase Unit
Holder on the record date set by the Purchase Contract Agent therefor (which, to the extent possible, shall be the same date as
the record date for determining the holders of Preferred Securities entitled to vote) shall be entitled to instruct the Purchase
Contract Agent as to the exercise of the voting rights pertaining to the Preferred Securities constituting a part of such Holder's
Stock Purchase Unit; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3) stating the manner in which such instructions
may be given.</P>

<P STYLE="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">Upon the written request of the Stock Purchase
Unit Holders on such record date, the Purchase Contract Agent shall endeavor insofar as practicable to vote or cause to be voted,
in accordance with the instructions set forth in such requests, the maximum number of Preferred Securities as to which any particular
voting instructions are received. In the absence of specific instructions from the Holder of a Stock Purchase Unit, the Purchase
Contract Agent shall abstain from voting the Preferred Security evidenced by such Stock Purchase Unit.</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: 0.5in">Upon the dissolution and liquidation of
the Trust, an aggregate principal amount of the [Subordinated] Notes constituting the assets of the Trust and underlying the Preferred
Securities equal to the aggregate liquidation amount of the Pledged Preferred Securities shall be delivered to the Securities Intermediary
in exchange for the Pledged Preferred Securities. Thereafter, the [Subordinated] Notes shall be held by the Securities Intermediary
to secure the obligations of each Holder of Stock Purchase Units to purchase shares of Common Stock under the Purchase Contracts
constituting a part of such Stock Purchase Units.</P>

<P STYLE="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">Notwithstanding the foregoing, in the event
of a dissolution and liquidation of the Trust, if a Liquidation Distribution is to be distributed in lieu of the [Subordinated]
Notes as provided for in the Declaration, an amount equal to the Liquidation Distribution shall be deposited in the Collateral
Account in exchange for the Pledged Preferred Securities. Thereafter, pursuant to the terms of the Pledge Agreement, the Collateral
Agent shall cause the Securities Intermediary to apply an amount equal to the Redemption Amount of such Liquidation Distribution
to purchase on behalf of the Holders of Stock Purchase Units the Treasury Portfolio and promptly remit the remaining portion of
such Liquidation Distribution to the Purchase Contract Agent for payment to the Holders of such Stock Purchase Units. The Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio will be substituted as
Collateral for the Pledged Preferred Securities and will be held by the Collateral Agent in accordance with the terms of the Pledge
Agreement to secure the obligation of each Holder of a Stock Purchase Unit to purchase the Common Stock of the Company under the
Purchase Contract constituting a part of such Stock Purchase Unit.</P>

<P STYLE="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">Following the dissolution and liquidation
of the Trust, the Holders and the Collateral Agent shall have such security interests, rights and obligations with respect to the
[Subordinated] Notes or the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury
Portfolio, as the case may be, as the Holders and the Collateral Agent had in respect of the Pledged Preferred Securities, any
reference herein to the Preferred Securities shall be deemed to be a reference to the [Subordinated] Notes or the Applicable Ownership
Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, and any reference
herein to the liquidation amount of the Preferred Securities shall be deemed to be a reference to the principal amount of the [Subordinated]
Notes or the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio,
as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the occurrence of a Tax Event Redemption
prior to the Purchase Contract Settlement Date, an amount equal to the Redemption Amount plus any accumulated and unpaid distributions
payable on the Tax Event Redemption Date with respect to the Applicable Principal Amount shall be deposited in the Collateral Account
in exchange for the Pledged Preferred Securities. Thereafter, pursuant to the terms of the Pledge Agreement, the Collateral Agent
shall cause the Securities Intermediary to apply an amount equal to the Redemption Amount of such funds to purchase on behalf of
the Holders of Stock Purchase Units, the Treasury Portfolio and promptly (a) transfer the Applicable Ownership Interest (as specified
in clause (A) of the definition of such term) of the Treasury Portfolio to the Collateral Account to secure the obligations of
each Holder of Stock Purchase Units to purchase shares of Common Stock under the Purchase Contracts constituting a part of such
Stock Purchase Units, (b) transfer the Applicable Ownership Interest (as specified in clause (B) of the definition of such term)
of the Treasury Portfolio to the Purchase Contract Agent for the benefit of the Holders of such Stock Purchase Units and (C) remit
the remaining portion of such funds to the Purchase Contract Agent for payment to the Holders of such Stock Purchase Units.</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: 0.5in">Following the occurrence of a Tax Event
Redemption prior to the Purchase Contract Settlement Date, the Holders of Stock Purchase Units and the Collateral Agent shall have
such security interest rights and obligations with respect to the Applicable Ownership Interest (as specified in clause (A) of
the definition of such term) of the Treasury Portfolio as the Holder of Stock Purchase Units and the Collateral Agent had in respect
of the Preferred Securities or [Subordinated] Notes, as the case may be, subject to the Pledge thereof as provided in the Pledge
Agreement and any reference herein to the Preferred Securities shall be deemed to be a reference to such Treasury Portfolio.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Stock Purchase Certificates are issuable
only in registered form and only in denominations of a single Stock Purchase Unit and any integral multiple thereof. The transfer
of any Stock Purchase Units Certificate will be registered and Stock Purchase Units Certificates may be exchanged as provided in
the Purchase Contract Agreement. The Security Registrar may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents permitted by the Purchase Contract Agreement. No service charge shall be required for any such registration
of transfer or exchange, but the Company and the Purchase Contract Agent may require payment of a sum sufficient to cover any tax
or other governmental charge payable in connection therewith. A Holder who elects to substitute a Treasury Security for Preferred
Securities, thereby creating Treasury Stock Purchase Units, shall be responsible for any fees or expenses payable in connection
therewith. Except as provided in the Purchase Contract Agreement, for so long as the Purchase Contract underlying a Stock Purchase
Unit remains in effect, such Stock Purchase Unit shall not be separable into its constituent parts, and the rights and obligations
of the Holder of such Stock Purchase Unit in respect of the Preferred Securities and Purchase Contract constituting such Stock
Purchase Unit may be transferred and exchanged only as a Stock Purchase Unit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Holder of Stock Purchase Units may substitute
for the Pledged Preferred Securities securing such Holder's obligations under the related Purchase Contracts Treasury Securities
in an aggregate principal amount equal to the aggregate liquidation amount of the Pledged Preferred Securities in accordance with
the terms of the Purchase Contract Agreement and the Pledge Agreement. From and after such Collateral Substitution, each Security
for which such Pledged Treasury Securities secures the Holder's obligation under the Purchase Contract shall be referred to as
a &quot;TREASURY STOCK PURCHASE UNIT&quot;. A Holder may make such Collateral Substitution only in integral multiples of 40 Stock
Purchase Units for 40 Treasury Stock Purchase Units.</P>

<P STYLE="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">A Holder of Treasury Stock Purchase Units
may recreate Stock Purchase Units by delivering to the Securities Intermediary Preferred Securities with an aggregate liquidation
amount equal to the aggregate principal amount at maturity of the Pledged Treasury Securities in exchange for the release of such
Pledged Treasury Securities in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement. A Holder
may recreate Stock Purchase Units only in integral multiples of 40 Treasury Stock Purchase Units for 40 Stock Purchase Units.</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="margin: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a Tax Event Redemption has occurred,
a Stock Purchase Unit Holder may not create Treasury Stock Purchase Units, and a Treasury Stock Purchase Unit Holder may not recreate
a Stock Purchase Unit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay, on each Payment Date,
the Purchase Contract Payments payable in respect of each Purchase Contract to the Person in whose name the Stock Purchase Units
Certificate evidencing such Purchase Contract is registered at the close of business on the Record Date for such Payment Date.
Purchase Contract Payments will be payable at the office of the Purchase Contract Agent in New York City or, at the option of the
Holder, by check mailed to the address of the Person entitled thereto at such address as it appears on the Security Register.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has the right to defer payment
of all or part of the Purchase Contract Payments in respect of each Purchase Contract until no later than the Purchase Contract
Settlement Date. If the Company so elects to defer Purchase Contract Payments, the Company shall pay additional Purchase Contract
Payments on such deferred installments of Purchase Contract Payments at a rate equal to ___% per annum, compounding quarterly,
until such deferred installments are paid. In the event that the Company elects to defer the payment of Purchase Contract Payments
on the Purchase Contracts until the Purchase Contract Settlement Date, each Holder will receive on the Purchase Contract Settlement
Date the aggregate amount of accrued and unpaid Purchase Contract Payments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Contracts and all obligations
and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the
obligation of the Company to pay any Purchase Contract Payments, shall immediately and automatically terminate, without the necessity
of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, on or prior to the Purchase Contract Settlement
Date, a Termination Event shall have occurred. Upon the occurrence of a Termination Event, the Company shall promptly but in no
event later than two Business Days thereafter give written notice to the Purchase Contract Agent, the Collateral Agent and the
Holders, at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the
Collateral Agent shall release the Preferred Securities or the appropriate Applicable Ownership Interest (as specified in clause
(A) of the definition of such term) of the Treasury Portfolio, as the case may be, from the Pledge in accordance with the provisions
of the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to and upon compliance with the
provisions of the Purchase Contract Agreement, at the option of the Holder thereof, Purchase Contracts underlying Securities may
be settled early (&quot;EARLY SETTLEMENT&quot;) as provided in the Purchase Contract Agreement. In order to exercise the right
to effect Early Settlement with respect to any Purchase Contracts evidenced by this Stock Purchase Units Certificate, the Holder
of this Stock Purchase Units Certificate shall deliver to the Purchase Contract Agent at the Corporate Trust Office an Election
to Settle Early form set forth below and any other documents requested by the Purchase Contract Agent duly completed and accompanied
by payment in the form of immediately available funds payable to the order of the Company in an amount (the &quot;EARLY SETTLEMENT
AMOUNT&quot;) equal to (i) the product of (A) $25 times (B) the number of Purchase Contracts with respect to which the Holder has
elected to effect Early Settlement, plus (ii) if such delivery is made with respect to any Purchase Contracts during the period
from the close of business on any Record Date for any Payment Date to the opening of business on such Payment Date, an amount equal
to the Purchase Contract Payments payable on such Payment Date with respect to such Purchase Contracts.</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: 0.5in">Upon Early Settlement of Purchase Contracts
by a Holder of the related Securities, the Pledged Preferred Securities, Pledged [Subordinated] Notes or the appropriate Applicable
Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, underlying
such Securities shall be released from the Pledge as provided in the Pledge Agreement and the Holder shall be entitled to receive
a number of shares of Common Stock on account of each Purchase Contract forming part of a Stock Purchase Unit as to which Early
Settlement is effected equal to ______ share of Common Stock per Purchase Contract (the &quot;EARLY SETTLEMENT RATE&quot;). The
Early Settlement Rate shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted as provided
in the Purchase Contract Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon registration of transfer of this Stock
Purchase Units Certificate, the transferee shall be bound (without the necessity of any other action on the part of such transferee,
except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract Agreement), under the terms of the Purchase
Contract Agreement and the Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under
the Purchase Contracts evidenced by this Stock Purchase Units Certificate. The Company covenants and agrees, and the Holder, by
its acceptance hereof, likewise covenants and agrees, to be bound by the provisions of this paragraph.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Holder of this Stock Purchase Units
Certificate, by its acceptance hereof, authorizes the Purchase Contract Agent to enter into and perform the related Purchase Contracts
forming part of the Stock Purchase Units evidenced hereby on its behalf as its attorney-in-fact, expressly withholds any consent
to the assumption (i.e., affirmance) of the Purchase Contracts by the Company or its trustee in the event that the Company becomes
the subject of a case under the Bankruptcy Code, agrees to be bound by the terms and provisions thereof, covenants and agrees to
perform his obligations under such Purchase Contracts, consents to the provisions of the Purchase Contract Agreement, authorizes
the Purchase Contract Agent to enter into and perform the Purchase Contract Agreement and the Pledge Agreement on its behalf as
its attorney-in-fact, and consents to the Pledge of the Preferred Securities or the appropriate Applicable Ownership Interest (as
specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, underlying this Stock Purchase
Units Certificate pursuant to the Pledge Agreement. The Holder further covenants and agrees that, to the extent and in the manner
provided in the Purchase Contract Agreement and the Pledge Agreement, but subject to the terms thereof, payments in respect to
the aggregate liquidation amount of the Pledged Preferred Securities or the appropriate Applicable Ownership Interest (as specified
in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, on the Purchase Contract Settlement
Date shall be paid by the Collateral Agent to the Company in satisfaction of such Holder's obligations under such Purchase Contract
and such Holder shall acquire no right, title or interest in such payments.</P>

<P STYLE="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">Subject to certain exceptions, the provisions
of the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the Purchase Contracts.</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: 0.5in">The Purchase Contracts shall be governed
by, and construed in accordance with, the laws of the State of New York, without regard to conflicts of laws principles thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company, the Purchase Contract Agent
and its Affiliates and any agent of the Company or the Purchase Contract Agent may treat the Person in whose name this Stock Purchase
Units Certificate is registered as the owner of the Stock Purchase Units evidenced hereby for the purpose of receiving payments
of distributions payable quarterly on the Preferred Securities, receiving payments of Purchase Contract Payments, performance of
the Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect thereof be overdue and notwithstanding
any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice
to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Contracts shall not, prior
to the settlement thereof, entitle the Holder to any of the rights of a holder of shares of Common Stock.</P>

<P STYLE="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">A copy of the Purchase Contract Agreement
is available for inspection at the offices of the Purchase Contract Agent.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following abbreviations, when used in
the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable
laws or regulations:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TEN&nbsp;COM:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as&nbsp;tenants&nbsp;in&nbsp;common</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">UNIF&nbsp;GIFT&nbsp;MIN&nbsp;ACT:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________&nbsp;Custodian&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: 0.5in">&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;(cust)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(minor)
Under Uniform Gifts to Minors Act of __________________________________________________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TENANT: as tenants by the entireties</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JT TEN: as joint tenants with right of survivorship and not
tenants in common</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additional abbreviations may also be used though not in the
above list.</P>

<P STYLE="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">&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;&mdash;&mdash;&mdash;</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">FOR&nbsp;VALUE RECEIVED, the undersigned hereby sell(s), assign(s)
and transfer(s) unto</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Please insert Social Security or Taxpayer I.D. or other Identifying
Number of Assignee)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Please Print or Type Name and Address Including Postal Zip
Code of Assignee) the within Stock Purchase Units Certificates and all rights thereunder, hereby irrevocably constituting and appointing
attorney __________________, to transfer said Stock Purchase Units Certificates on the books of WidePoint Corporation, and ____________
Trust with full power of substitution in the premises.</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: 60%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Dated:</TD>
    <TD STYLE="width: 50%">Signature</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_________________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTICE: The signature to this assignment must correspond with
the name as it appears upon the face of the within Stock Purchase Units Certificates in very particular, without alteration or
enlargement or any change whatsoever.</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: 5%">&nbsp;</TD>
    <TD STYLE="width: 95%">Signature Guarantee:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-indent: 0.5in">____________________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder directs that a certificate
for shares of Common Stock deliverable upon settlement on or after the Purchase Contract Settlement Date of the Purchase Contracts
underlying the number of Stock Purchase Units evidenced by this Stock Purchase Units Certificate be registered in the name of,
and delivered, together with a check in payment for any fractional share, to the undersigned at the address indicated below unless
a different name and address have been indicated below. If shares are to be registered in the name of a Person other than the undersigned,
the undersigned will pay any transfer tax payable incident thereto.</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">Dated:</P>

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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature Guarantee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in">_____________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">(if assigned to another person)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If shares are to be registered in the name of and delivered
to a Person other than the Holder, please (i) print such Person's name and address and (ii) provide a guarantee of your Registered
Holder. Please print name and address of signature:</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">___________________________________</TD>
    <TD STYLE="width: 40%">___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name</TD>
    <TD>Name</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Address</TD>
    <TD>Address</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</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">Social Security or other Taxpayer Identification Number, if
any&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">&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-align: center">ELECTION TO SETTLE EARLY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder of this Stock Purchase
Units Certificate hereby irrevocably exercises the option to effect Early Settlement in accordance with the terms of the Purchase
Contract Agreement with respect to the Purchase Contracts underlying the number of Stock Purchase Units evidenced by this Stock
Purchase Units Certificate specified below. The undersigned Holder directs that a certificate for shares of Common Stock deliverable
upon such Early Settlement be registered in the name of, and delivered, together with a check in payment for any fractional share
and any Stock Purchase Units Certificate representing any Stock Purchase Units evidenced hereby as to which Early Settlement of
the related Purchase Contracts is not effected, to the undersigned at the address indicated below unless a different name and address
have been indicated below. Pledged Preferred Securities, Pledged [Subordinated] Notes or the appropriate Applicable Ownership Interest
of the Treasury Portfolio, as the case may be, deliverable upon such Early Settlement will be transferred in accordance with the
transfer instructions set forth below. If shares are to be registered in the name of a Person other than the undersigned, the undersigned
will pay any transfer tax payable incident thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Securities evidenced hereby as to which Early Settlement
of the related Purchase Contracts is being elected:</P>

<P STYLE="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 shares of Common Stock or Stock Purchase Units Certificates
are to be registered in the name of and delivered to and Pledged Preferred Securities, Pledged [Subordinated] Notes or the Applicable
Ownership Interest of the Treasury Portfolio, as the case may be, are to be transferred to a Person other than the Holder, please
print such Person's name and address:</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">Please print name and address of Registered Holder:</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">___________________________________</TD>
    <TD STYLE="width: 40%">___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name</TD>
    <TD>Name</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Address</TD>
    <TD>Address</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</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">Social Security or other Taxpayer Identification Number,&nbsp;if&nbsp;any&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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer Instructions for Pledged Preferred Securities or the
Applicable Ownership Interest of the Treasury Portfolio, as the case may be, transferable upon Early Settlement or a Termination
Event:</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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-align: center">[TO BE ATTACHED TO GLOBAL CERTIFICATES]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL CERTIFICATE</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">Number of Stock</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 22%; text-align: center">Amount&nbsp;of&nbsp;increase&nbsp;in</TD>
    <TD STYLE="width: 23%; text-align: center">Amount&nbsp;of&nbsp;decrease&nbsp;in</TD>
    <TD STYLE="width: 20%; text-align: center">Purchase&nbsp;Units</TD>
    <TD STYLE="width: 26%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Number&nbsp;of&nbsp;Stock</TD>
    <TD STYLE="text-align: center">Number&nbsp;of&nbsp;Stock</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;this</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date</TD>
    <TD STYLE="text-align: center">Purchase&nbsp;Units</TD>
    <TD STYLE="text-align: center">Purchase&nbsp;Units</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">Signature&nbsp;of&nbsp;authorized</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;the</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;the</TD>
    <TD STYLE="text-align: center">following&nbsp;such</TD>
    <TD STYLE="text-align: center">signatory&nbsp;of&nbsp;Trustee&nbsp;or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">decrease&nbsp;or&nbsp;increase</TD>
    <TD STYLE="text-align: center">Securities&nbsp;Custodian</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FACE OF TREASURY STOCK PURCHASE CERTIFICATE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">[THIS CERTIFICATE IS A GLOBAL CERTIFICATE
WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE &quot;DEPOSITARY&quot;), OR A NOMINEE OF THE DEPOSITARY. THIS CERTIFICATE IS EXCHANGEABLE
FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS CERTIFICATE (OTHER THAN A TRANSFER OF THIS CERTIFICATE AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE
OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND
ANY PAYMENT HEREON IS MADE TO CEDE &amp; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE &amp; CO., HAS AN INTEREST HEREIN.]</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%">CUSIP No._____________</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">Number of Treasury Stock Purchase Units:___________</P>

<P STYLE="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">WIDEPOINT CORPORATION</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">_____________TRUST</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">TREASURY STOCK PURCHASE UNITS</P>

<P STYLE="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">This Treasury Stock Purchase Units Certificate
certifies that __________________ is the registered Holder of the number of Treasury Stock Purchase Units set forth above. Each
Treasury Stock Purchase Unit consists of (i) a 1/40 undivided beneficial ownership interest of a Treasury Security having a principal
amount at maturity equal to $1,000, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement,
and (ii) the rights and obligations of the Holder under one Purchase Contract with WidePoint Corporation, a Delaware corporation
(the &quot;COMPANY&quot;). All capitalized terms used herein which are defined in the Purchase Contract Agreement (as defined on
the reverse hereof) have the meaning set forth therein.</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: 0.5in">Pursuant to the Pledge Agreement, the Treasury
Securities constituting part of each Treasury Stock Purchase Unit evidenced hereby have been pledged to the Collateral Agent, for
the benefit of the Company, to secure the obligations of the Holder under the Purchase Contract comprising part of such Treasury
Stock Purchase Unit. Each Purchase Contract evidenced hereby obligates the Holder of this Treasury Stock Purchase Units Certificate
to purchase, and the Company, to sell, on _____________ (the &quot;PURCHASE CONTRACT SETTLEMENT DATE&quot;), at a price equal to
$25 (the &quot;STATED AMOUNT&quot;), a number of shares of Common Stock, without par value (&quot;COMMON STOCK&quot;), of the Company,
equal to the Settlement Rate, unless prior to or on the Purchase Contract Settlement Date there shall have occurred a Termination
Event or an Early Settlement with respect to the Treasury Stock Purchase Unit of which such Purchase Contract is a part, all as
provided in the Purchase Contract Agreement and more fully described on the reverse hereof. The purchase price (the &quot;PURCHASE
PRICE&quot;) for the shares of Common Stock purchased pursuant to each Purchase Contract evidenced hereby, if not paid earlier,
shall be paid on the Purchase Contract Settlement Date by application of the proceeds from the Treasury Securities at maturity
pledged to secure the obligations of the Holder under such Purchase Contract of the Treasury Stock Purchase Unit of which such
Purchase Contract is a part.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay, on each Payment Date,
in respect of each Purchase Contract forming part of a Treasury Stock Purchase Unit evidenced hereby, an amount (the &quot;PURCHASE
CONTRACT PAYMENTS&quot;) equal to ___% per year of the Stated Amount. Such Purchase Contract Payments shall be payable to the Person
in whose name this Treasury Stock Purchase Units Certificate is registered at the close of business on the Record Date for such
Payment Date. The Company may, at its option, defer such Purchase Contract Payments.</P>

<P STYLE="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">Distributions on the Preferred Securities
and the Applicable Ownership Interest (as specified in clause (B) of the definition of such term) and the Purchase Contract Payments
will be payable at the office of the Purchase Contract Agent in New York City or, at the option of the Company, by check mailed
to the address of the Person entitled thereto as such address appears on the Security Register.</P>

<P STYLE="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">Reference is hereby made to the further
provisions set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.</P>

<P STYLE="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">Unless the certificate of authentication
hereon has been executed by the Purchase Contract Agent by manual signature, this Treasury Stock Purchase Units Certificate shall
not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any
purpose.</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">IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed.</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: 35%">&nbsp;</TD>
    <TD STYLE="width: 65%">WIDEPOINT CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">Title:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>HOLDER SPECIFIED ABOVE (as to</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>obligations of such Holder under the</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Purchase Contracts)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">not individually but solely as</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Attorney-in-Fact of such Holder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">_______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Title:</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">Dated:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;</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-align: center">CERTIFICATE OF AUTHENTICATION OF</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">PURCHASE CONTRACT AGENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is one of the Treasury Stock Purchase
Units referred to in the within-mentioned Purchase Contract Agreement.</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: 35%">&nbsp;</TD>
    <TD STYLE="width: 65%">By:[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9pt">as Purchase Contract Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">_______________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Authorized Signatory</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">Dated:</P>

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

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(REVERSE OF TREASURY STOCK PURCHASE UNITS
CERTIFICATE)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Purchase Contract evidenced hereby
is governed by a Purchase Contract Agreement, dated as of ___________, 20___ (as may be supplemented from time to time, the &quot;PURCHASE
CONTRACT AGREEMENT&quot;) between the Company and [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], as
Purchase Contract Agent (including its successors thereunder, herein called the &quot;PURCHASE CONTRACT AGENT&quot;), to which
the Purchase Contract Agreement and supplemental agreements thereto reference is hereby made for a description of the respective
rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the Company and the
Holders and of the terms upon which the Treasury Stock Purchase Units Certificates are, and are to be, executed and delivered.</P>

<P STYLE="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">Unless a Cash Settlement or an Early Settlement
has occurred, each Purchase Contract evidenced hereby obligates the Holder of this Treasury Stock Purchase Units Certificate to
purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the &quot;PURCHASE
PRICE&quot;) a number of shares of Common Stock equal to the Settlement Rate, unless prior to the Purchase Contract Settlement
Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part or an
Early Settlement shall have occurred. The &quot;SETTLEMENT RATE&quot; is equal to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1) if the Applicable Market Value (as defined
below) is greater than or equal to $______ (the &quot;THRESHOLD APPRECIATION PRICE&quot;), ______ share of Common Stock per Purchase
Contract;</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">(2) if the Applicable Market Value is less
than the Threshold Appreciation Price but greater than $______ (the &quot;REFERENCE PRICE&quot;), the number of shares of Common
Stock per Purchase Contract having a value, based on the Applicable Market Value, equal to $25; and</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">(3) if the Applicable Market Value is less
than or equal to the Reference Price, then ______ share of Common Stock per Purchase Contract,</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">in each case subject to adjustment as provided
in the Purchase Contract Agreement (and in each case rounded upward or downward to the nearest 1/10,000<SUP>th</SUP> of a share).</P>

<P STYLE="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">No fractional shares of Common Stock will
be issued upon settlement of Purchase Contracts, as provided in Section 5.09 of the Purchase Contract Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Purchase Contract evidenced hereby,
which is settled either through Early Settlement or Cash Settlement, shall obligate the Holder of the related Treasury Stock Purchase
Unit to purchase at the Purchase Price for cash, and the Company to sell, a number of shares of Common Stock equal to the Early
Settlement Rate or the Settlement Rate, as applicable.</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: 0.5in">The &quot;APPLICABLE MARKET VALUE&quot;
means the average of the Closing Prices per share of Common Stock on each of the 20 consecutive Trading Days ending on the third
Trading Day immediately preceding the Purchase Contract Settlement Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The &quot;CLOSING PRICE&quot; per share
of Common Stock on any date of determination means the:</P>

<P STYLE="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">(1) closing sale price as of the close of
the principal trading session (or, if no closing price is reported, the last reported sale price) per share on the New York Stock
Exchange, Inc. (the &quot;NYSE&quot;) on such date;</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">(2) if the Common Stock is not listed for
trading on the NYSE on any such date, the closing sale price per share as reported in the composite transactions for the principal
United States securities exchange on which the Common Stock is so listed;</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">(3) if the Common Stock is not so listed on
a United States national or regional securities exchange, the closing sale price per share as reported by The Nasdaq National Market;</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">(4) if the Common Stock is not so reported,
the last quoted bid price for the Common Stock in the over-the-counter market as reported by the National Quotation Bureau or similar
organization; or</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">(5) if such bid price is not available, the
average of the mid-point of the last bid and ask prices of the Common Stock on such date from at least three nationally recognized
independent investment banking firms retained for this purpose by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A &quot;TRADING DAY&quot; means a day on
which the Common Stock (1) is not suspended from trading on any national or regional securities exchange or association or over-the-counter
market at the close of business and (2) has traded at least once on the national or regional securities exchange or association
or over-the-counter market that is the primary market for the trading of the Common Stock.</P>

<P STYLE="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">In accordance with the terms of the Purchase
Contract Agreement, the Holder of this Treasury Stock Purchase Unit shall pay the Purchase Price for the shares of the Common Stock
purchased pursuant to each Purchase Contract evidenced hereby either by effecting a Cash Settlement or an Early Settlement of each
such Purchase Contract or by applying a principal amount of the Pledged Treasury Securities underlying such Holder's Treasury Stock
Purchase Unit equal to the Stated Amount of such Purchase Contract to the purchase of the Common Stock. A Holder of Treasury Stock
Purchase Unit who does not effect, prior to or on 11:00 a.m. (New York City time) on the fifth Business Day immediately preceding
the Purchase Contract Settlement Date, an effective Cash Settlement, or who does not effect on or prior to 5:00 p.m. (New York
City time) on the seventh Business Day prior to the Purchase Contract Settlement Date an effective Early Settlement, shall pay
the Purchase Price for the shares of Common Stock to be issued under the related Purchase Contract from the proceeds of the Pledged
Treasury Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall not be obligated to issue
any shares of Common Stock in respect of a Purchase Contract or deliver any certificates therefor to the Holder unless it shall
have received payment of the aggregate purchase price for the shares of Common Stock to be purchased thereunder in the manner herein
set forth.</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: 0.5in">Each Purchase Contract evidenced hereby
and all obligations and rights of the Company and the Holder thereunder shall terminate if a Termination Event shall occur. Upon
the occurrence of a Termination Event, the Company shall give written notice to the Purchase Contract Agent and to the Holders,
at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the Collateral
Agent shall release the Pledged Treasury Securities (as defined in the Pledge Agreement) forming a part of each Treasury Stock
Purchase Unit. A Treasury Stock Purchase Unit shall thereafter represent the right to receive the interest in the Treasury Security
forming a part of such Treasury Stock Purchase Unit, in accordance with the terms of the Purchase Contract Agreement and the Pledge
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Treasury Stock Purchase Units Certificates
are issuable only in registered form and only in denominations of a single Treasury Stock Purchase and any integral multiple thereof.
The transfer of any Treasury Stock Purchase Certificate will be registered and Treasury Stock Purchase Certificates may be exchanged
as provided in the Purchase Contract Agreement. The Security Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents permitted by the Purchase Contract Agreement. No service charge shall be required for any such
registration of transfer or exchange, but the Company and the Purchase Contract Agent may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. A Holder who elects to substitute Preferred Securities
or [Subordinated] Notes, for Treasury Securities, thereby recreating Stock Purchase Units, shall be responsible for any fees or
expenses associated therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as provided in the Purchase Contract
Agreement, for so long as the Purchase Contract underlying a Treasury Stock Purchase Unit remains in effect, such Treasury Stock
Purchase Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder of such Treasury
Stock Purchase Unit in respect of the Treasury Security and the Purchase Contract constituting such Treasury Stock Purchase Unit
may be transferred and exchanged only as a Treasury Stock Purchase Unit.</P>

<P STYLE="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">A Holder of Treasury Stock Purchase Units
may recreate Stock Purchase Units by delivering to the Securities Intermediary Preferred Securities with an aggregate liquidation
amount, or [Subordinated] Notes with an aggregate principal amount, equal to the aggregate principal amount at maturity of the
Pledged Treasury Securities in exchange for the release of such Pledged Treasury Securities in accordance with the terms of the
Purchase Contract Agreement and the Pledge Agreement. From and after such substitution, the Holder's Security shall be referred
to as a &quot;STOCK PURCHASE UNIT&quot;. Any such creation of Stock Purchase Units may be effected only in multiples of 40 Treasury
Stock Purchase Units for 40 Stock Purchase Units.</P>

<P STYLE="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">A Holder of Stock Purchase Units may recreate
Treasury Stock Purchase Units by delivering to the Securities Intermediary Treasury Securities in an aggregate principal amount
equal to the aggregate liquidation amount of the Pledged Preferred Securities or the aggregate principal amount at maturity of
the Pledged [Subordinated] Notes, as the case may be, in accordance with the terms of the Purchase Contract Agreement and the Pledge
Agreement. Any such recreation of Treasury Stock Purchase Units may be effected only in multiples of 40 Stock Purchase Units for
40 Treasury Stock Purchase Units.</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: 0.5in">If a Tax Event Redemption has occurred,
a Treasury Stock Purchase Unit Holder may not recreate Stock Purchase Units, and a Stock Purchase Unit Holder may not create a
Treasury Stock Purchase Unit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay, on each Payment Date,
the Purchase Contract Payments payable in respect of each Purchase Contract to the Person in whose name the Treasury Stock Purchase
Units Certificate evidencing such Purchase Contract is registered at the close of business on the Record Date for such Payment
Date. Purchase Contract Payments will be payable at the office of the Purchase Contract Agent in New York City or, at the option
of the Holder, by check mailed to the address of the Person entitled thereto at such address as it appears on the Security Register.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has the right to defer payment
of all or part of the Purchase Contract Payments in respect of each Purchase Contract until no later than the Purchase Contract
Settlement Date. If the Company so elects to defer Purchase Contract Payments, the Company shall pay additional Purchase Contract
Payments on such deferred installments of Purchase Contract Payments at a rate equal to ___% per annum, compounding quarterly,
until such deferred installments are paid. In the event that the Company elects to defer the payment of Purchase Contract Payments
on the Purchase Contracts until the Purchase Contract Settlement Date), each Holder will receive on the Purchase Contract Settlement
Date the aggregate amount of accrued and unpaid Purchase Contract Payments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Contracts and all obligations
and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the
obligation of the Company to pay any Purchase Contract Payments, shall immediately and automatically terminate, without the necessity
of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, on or prior to the Purchase Contract Settlement
Date, a Termination Event shall have occurred. Upon the occurrence of a Termination Event, the Company shall promptly but in no
event later than two Business Days thereafter give written notice to the Purchase Contract Agent, the Collateral Agent and the
Holders, at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the
Collateral Agent shall release the Treasury Securities from the Pledge in accordance with the provisions of the Pledge Agreement.
A Treasury Stock Purchase Unit shall thereafter represent the right to receive the interest in the Treasury Security forming a
part of such Treasury Stock Purchase Unit, in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to and upon compliance with the
provisions of the Purchase Contract Agreement, at the option of the Holder thereof, Purchase Contracts underlying Securities may
be settled early (&quot;EARLY SETTLEMENT&quot;) as provided in the Purchase Contract Agreement. In order to exercise the right
to effect Early Settlement with respect to any Purchase Contracts evidenced by this Stock Purchase Units Certificate, the Holder
of this Treasury Stock Purchase Units Certificate shall deliver to the Purchase Contract Agent at the Corporate Trust Office an
Election to Settle Early form set forth below and any other documents requested by the Purchase Contract Agent duly completed and
accompanied by payment in the form of immediately available funds payable to the order of the Company in an amount (the &quot;EARLY
SETTLEMENT AMOUNT&quot;) equal to (i) the product of (A) $25 times (B) the number of Purchase Contracts with respect to which the
Holder has elected to effect Early Settlement, plus (ii) if such delivery is made with respect to any Purchase Contracts during
the period from the close of business on any Record Date for any Payment Date to the opening of business on such Payment Date,
an amount equal to the Purchase Contract Payments payable on such Payment Date with respect to such Purchase Contracts.</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: 0.5in">Upon Early Settlement of Purchase Contracts
by a Holder of the related Securities, the Pledged Treasury Securities underlying such Securities shall be released from the Pledge
as provided in the Pledge Agreement and the Holder shall be entitled to receive a number of shares of Common Stock on account of
each Purchase Contract forming part of a Treasury Stock Purchase Unit as to which Early Settlement is effected equal to ______
share of Common Stock per Purchase Contract (the &quot;EARLY SETTLEMENT RATE&quot;). The Early Settlement Rate shall be adjusted
in the same manner and at the same time as the Settlement Rate is adjusted as provided in the Purchase Contract Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon registration of transfer of this Treasury
Stock Purchase Certificate, the transferee shall be bound (without the necessity of any other action on the part of such transferee,
except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract Agreement), under the terms of the Purchase
Contract Agreement and the Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under
the Purchase Contracts evidenced by this Treasury Stock Purchase Units Certificate. The Company covenants and agrees, and the Holder,
by its acceptance hereof, likewise covenants and agrees, to be bound by the provisions of this paragraph.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Holder of this Treasury Stock Purchase
Units Certificate, by its acceptance hereof, authorizes the Purchase Contract Agent to enter into and perform the related Purchase
Contracts forming part of the Treasury Stock Purchase Units evidenced hereby on its behalf as its attorney-in-fact, expressly withholds
any consent to the assumption (i.e., affirmance) of the Purchase Contracts by the Company or its trustee in the event that the
Company becomes the subject of a case under the Bankruptcy Code, agrees to be bound by the terms and provisions thereof, covenants
and agrees to perform its obligations under such Purchase Contracts, consents to the provisions of the Purchase Contract Agreement,
authorizes the Purchase Contract Agent to enter into and perform the Purchase Contract Agreement and the Pledge Agreement on its
behalf as its attorney-in-fact, and consents to the Pledge of the Treasury Securities underlying this Treasury Stock Purchase Units
Certificate pursuant to the Pledge Agreement. The Holder further covenants and agrees, that, to the extent and in the manner provided
in the Purchase Contract Agreement and the Pledge Agreement, but subject to the terms thereof, payments in respect to the aggregate
principal amount of the Pledged Treasury Securities on the Purchase Contract Settlement Date shall be paid by the Collateral Agent
to the Company in satisfaction of such Holder's obligations under such Purchase Contract and such Holder shall acquire no right,
title or interest in such payments.</P>

<P STYLE="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">Subject to certain exceptions, the provisions
of the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the Purchase Contracts.</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: 0.5in">The Purchase Contracts shall for all purposes
be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflicts of laws principles
thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company, the Purchase Contract Agent
and its Affiliates and any agent of the Company or the Purchase Contract Agent may treat the Person in whose name this Treasury
Stock Purchase Units Certificate is registered as the owner of the Treasury Stock Purchase Units evidenced hereby for the purpose
of receiving payments of interest on the Treasury Securities, receiving payments of Purchase Contract Payments, performance of
the Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect thereof be overdue and notwithstanding
any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice
to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Purchase Contracts shall not, prior
to the settlement thereof, entitle the Holder to any of the rights of a holder of shares of Common Stock.</P>

<P STYLE="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">A copy of the Purchase Contract Agreement
is available for inspection at the offices of the Purchase Contract Agent.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following abbreviations, when used in
the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable
laws or regulations:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TEN COM: as tenants in common</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">UNIF&nbsp;GIFT&nbsp;MIN&nbsp;ACT:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;___________________&nbsp;Custodian&nbsp;___________________&nbsp;&nbsp;cust)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(minor)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Uniform Gifts to Minors Act of __________________</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TENANT: tenants by the entireties</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JT TEN: as joint tenants with right of survivorship and not
as tenants in common</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additional abbreviations may also be used though not in the
above list.</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: 0.5in">FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Please&nbsp;insert&nbsp;Social&nbsp;Security&nbsp;or&nbsp;Taxpayer&nbsp;I.D.&nbsp;or&nbsp;other&nbsp;Identifying</P>

<P STYLE="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">&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;Number&nbsp;of&nbsp;Assignee)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;(Please Print or Type Name and
Address Including Postal Zip Code of Assignee)</P>

<P STYLE="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 within Treasury Stock Purchase Units Certificates and all
rights thereunder, hereby irrevocably constituting and appointing attorney to transfer said Treasury Stock Purchase Units Certificates
on the books of WidePoint Corporation, and ___________Trust with full power of substitution in the premises.</P>

<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">Dated:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOTICE: The signature to this assignment
must correspond with the name as it appears upon the face of the within Treasury Stock Purchase Units Certificates in every particular,
without alteration or enlargement or any change whatsoever.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder directs that a certificate
for shares of Common Stock deliverable upon settlement on or after the Purchase Contract Settlement Date of the Purchase Contracts
underlying the number of Treasury Stock Purchase Units evidenced by this Treasury Stock Purchase Units Certificate be registered
in the name of, and delivered, together with a check in payment for any fractional share, to the undersigned at the address indicated
below unless a different name and address have been indicated below. If shares are to be registered in the name of a Person other
than the undersigned, the undersigned will pay any transfer tax payable incident thereto.</P>

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

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

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

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

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature Guarantee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in">_____________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">(if assigned to another person)</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If shares are to be registered in the name of and delivered
to a Person other than the Holder, please (i) print such Person's name and address and (ii) provide a guarantee of your signature:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Please print name and address of</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">Registered Holder:</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">___________________________________</TD>
    <TD STYLE="width: 40%">___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name</TD>
    <TD>Name</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>___________________________________</B></TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Address</TD>
    <TD>Address</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</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">Social Security or other Taxpayer Identification</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">Number, if any</TD>
    <TD STYLE="width: 40%">___________________________________</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: 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">ELECTION TO SETTLE EARLY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder of this Treasury
Stock Purchase Units Certificate hereby irrevocably exercises the option to effect Early Settlement in accordance with the terms
of the Purchase Contract Agreement with respect to the Purchase Contracts underlying the number of Treasury Stock Purchase Units
evidenced by this Treasury Stock Purchase Units Certificate specified below. The option to effect Early Settlement may be exercised
only with respect to Purchase Contracts underlying Treasury Stock Purchase Units with an aggregate Stated Amount equal to $1,000
or an integral multiple thereof. The undersigned Holder directs that a certificate for shares of Common Stock deliverable upon
such Early Settlement be registered in the name of, and delivered, together with a check in payment for any fractional share and
any Treasury Stock Purchase Units Certificate representing any Treasury Stock Purchase Units evidenced hereby as to which Early
Settlement of the related Purchase Contracts is not effected, to the undersigned at the address indicated below unless a different
name and address have been indicated below. Pledged Treasury Securities deliverable upon such Early Settlement will be transferred
in accordance with the transfer instructions set forth below. If shares are to be registered in the name of a Person other than
the undersigned, the undersigned will pay any transfer tax payable incident thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Securities evidenced hereby as to which Early Settlement
of the related Purchase Contracts is being elected:</P>

<P STYLE="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 shares of Common Stock or Treasury Stock Purchase Units Certificates
are to be registered in the name of and delivered to and Pledged Treasury Securities are to be transferred to a Person other than
the Holder, please print such Person's name and address:</P>

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


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    <!-- Field: /Page -->

<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: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%">Please print name and address of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Registered Holder:</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">___________________________________</TD>
    <TD STYLE="width: 40%">___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name</TD>
    <TD>Name</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Address</TD>
    <TD>Address</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>___________________________________</TD>
    <TD>___________________________________</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">Social Security or other Taxpayer Identification</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: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">Number, if any</TD>
    <TD STYLE="width: 40%">___________________________________</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">Transfer Instructions for Pledged Treasury Securities Transferable
Upon or Early Settlement or a Termination Event:</P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[TO BE ATTACHED TO GLOBAL CERTIFICATES]</P>

<P STYLE="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">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
CERTIFICATE</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">Number of Treasury</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center">Amount&nbsp;of&nbsp;increase&nbsp;in</TD>
    <TD STYLE="width: 20%; text-align: center">Amount&nbsp;of&nbsp;decrease&nbsp;in</TD>
    <TD STYLE="width: 20%; text-align: center">Stock&nbsp;Purchase&nbsp;Units</TD>
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Number&nbsp;of&nbsp;Treasury</TD>
    <TD STYLE="text-align: center">Number&nbsp;of&nbsp;Treasury</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;this</TD>
    <TD STYLE="text-align: center">Signature&nbsp;of&nbsp;authorized</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date</TD>
    <TD STYLE="text-align: center">Stock&nbsp;Purchase&nbsp;Units</TD>
    <TD STYLE="text-align: center">Stock&nbsp;Purchase&nbsp;Units</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">signatory&nbsp;of&nbsp;Trustee&nbsp;or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;the</TD>
    <TD STYLE="text-align: center">evidenced&nbsp;by&nbsp;the</TD>
    <TD STYLE="text-align: center">following&nbsp;such</TD>
    <TD STYLE="text-align: center">Securities&nbsp;Custodian</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">Global&nbsp;Certificate</TD>
    <TD STYLE="text-align: center">decrease&nbsp;or&nbsp;increase</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT C</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">INSTRUCTION TO PURCHASE CONTRACT AGENT</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: [_______ Stock Purchase Units] [_______ Treasury Stock Purchase
Units] of WidePoint Corporation, a Delaware corporation (the &quot;COMPANY&quot;) and ________ Trust.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder hereby notifies you
that it has delivered to [ ], as Securities Intermediary, for credit to the Collateral Account, $______ aggregate [principal] [liquidation]
amount of [Preferred Securities] [[Subordinated] Notes] [Treasury Securities] in exchange for the [Pledged Preferred Securities]
[Pledged [Subordinated] Notes] [Pledged Treasury Securities] held in the Collateral Account, in accordance with the Pledge Agreement,
dated as of ____________, 20___ (the &quot;PLEDGE AGREEMENT&quot;; unless otherwise defined herein, terms defined in the Pledge
Agreement are used herein as defined therein), between you, the Company, the Collateral Agent and the Securities Intermediary.
The undersigned Holder has paid all applicable fees relating to such exchange. The undersigned Holder hereby instructs you to instruct
the Collateral Agent to release to you on behalf of the undersigned Holder the [Pledged Preferred Securities] [Pledged [Subordinated]
Notes] [Pledged Treasury Securities] related to such [Stock Purchase Units] [Treasury Stock Purchase Units].</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature Guarantee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in">_____________________</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">Please print name and address of Registered Holder:</P>

<P STYLE="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">&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;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;</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: 30%">Name</TD>
    <TD STYLE="width: 70%">Social Security or other Taxpayer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Identification Number, if any</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">Address</P>

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTICE FROM PURCHASE CONTRACT AGENT TO HOLDERS</P>

<P STYLE="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">(Transfer of Collateral upon Occurrence
of a Termination Event)</P>

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

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

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

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

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

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

<P STYLE="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">Re: [__________ Stock Purchase Units] [______
Treasury Stock Purchase Units] of WidePoint Corporation, a Delaware corporation (the &quot;COMPANY&quot;) and _______ Trust</P>

<P STYLE="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">Please refer to the Purchase Contract Agreement,
dated as of __________, 20___ (the &quot;PURCHASE CONTRACT AGREEMENT&quot;; unless otherwise defined herein, terms defined in the
Purchase Contract Agreement are used herein as defined therein), between the Company and the undersigned, as Purchase Contract
Agent and as attorney-in-fact for the holders of Stock Purchase Units and Treasury Stock Purchase Units from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We hereby notify you that a Termination
Event has occurred and that [the [Subordinated] Notes][the Treasury Securities] underlying your ownership interest in _____ [Stock
Purchase Units] [Treasury Stock Purchase Units] have been released and are being held by us for your account pending receipt of
transfer instructions with respect to such [[Subordinated] Notes][Treasury Securities] (the &quot;RELEASED SECURITIES&quot;).</P>

<P STYLE="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 Section 3.15 of the Purchase
Contract Agreement, we hereby request written transfer instructions with respect to the Released Securities. Upon receipt of your
instructions and upon transfer to us of your [Stock Purchase Units][Treasury Stock Purchase Units] effected through book-entry
or by delivery to us of your [Stock Purchase Units Certificate][Treasury Stock Purchase Units Certificate], we shall transfer the
Released Securities by book-entry transfer or other appropriate procedures, in accordance with your instructions. In the event
you fail to effect such transfer or delivery, the Released Securities and any distributions thereon, shall be held in our name,
or a nominee in trust for your benefit, until such time as such [Stock Purchase Units][Treasury Stock Purchase Units] are transferred
or your [Stock Purchase Units Certificate] [Treasury Stock Purchase Units Certificate] is surrendered or satisfactory evidence
is provided that such [Stock Purchase Units Certificate][Treasury Stock Purchase Units Certificate] has been destroyed, lost or
stolen, together with any indemnification that we or the Company may require.</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"></P>

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    <TD STYLE="width: 30%">Date:</TD>
    <TD STYLE="width: 70%">By: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>_________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: Authorized Signatory</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>

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

<P STYLE="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">NOTICE TO SETTLE BY CASH</P>

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

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

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

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

<P STYLE="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">Re: [_______ Stock Purchase Units] [Treasury
Stock Purchase Units] of WidePoint Corporation, a Delaware corporation (the &quot;COMPANY&quot;) and ___________ Trust</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned Holder hereby irrevocably
notifies you in accordance with Section 5.02 of the Purchase Contract Agreement, dated as of ______________, 20___ (the &quot;PURCHASE
CONTRACT AGREEMENT&quot;; unless otherwise defined herein, terms defined in the Purchase Contract Agreement are used herein as
defined therein), between the Company and you, as Purchase Contract Agent and as Attorney-in-Fact for the Holders of the Purchase
Contracts, that such Holder has elected to pay to the Securities Intermediary for deposit in the Collateral Account, prior to or
on 11:00 a.m. (New York City time) on the fifth Business Day immediately preceding the Purchase Contract Settlement Date (in lawful
money of the United States by certified or cashiers' check or wire transfer, in immediately available funds), $______ as the Purchase
Price for the shares of Common Stock issuable to such Holder by the Company under the related Purchase Contracts on the Purchase
Contract Settlement Date. The undersigned Holder hereby instructs you to notify promptly the Collateral Agent of the undersigned
Holders' election to make such cash settlement with respect to the Purchase Contracts related to such Holder's [Stock Purchase
Units] [Treasury Stock Purchase Units].</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in">Signature Guarantee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.75in"></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please print name and address of Registered Holder:</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-align: center">EXHIBIT F</P>

<P STYLE="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">NOTICE FROM PURCHASE CONTRACT AGENT</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">TO COLLATERAL AGENT AND PROPERTY TRUSTEE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Settlement of Purchase Contract through
Remarketing)</P>

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

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

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

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

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

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

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

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

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

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

<P STYLE="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">Re: __________ Stock Purchase Units of WidePoint
Corporation, a Delaware corporation (the &quot;COMPANY&quot;) and ________ Trust</P>

<P STYLE="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">Please refer to the Purchase Contract Agreement,
dated as of _________, 20___ (the &quot;PURCHASE CONTRACT AGREEMENT&quot;; unless otherwise defined herein, terms defined in the
Purchase Contract Agreement are used herein as defined therein), between the Company and the undersigned, as Purchase Contract
Agent and as attorney-in-fact for the Holders of Stock Purchase Units from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In accordance with Section 5.02 of the Purchase
Contract Agreement and, based on instructions and Cash Settlements received from Holders of Stock Purchase Units as of 11:00 a.m.
(New York City time), the fifth Business Day preceding the Purchase Contract Settlement Date, we hereby notify you that ______
[Preferred Securities] [[Subordinated] Notes] are to be tendered for purchase in the Remarketing.</P>

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

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

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

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

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    <TD STYLE="width: 30%">Date:</TD>
    <TD STYLE="width: 70%">By: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>_________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>8
<FILENAME>v366522_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</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: justify">We consent to the incorporation by
reference in this Amendment No. 1 to the Registration Statement (Form S-3, No. 333-193250) of WidePoint Corporation of our report
dated March 30, 2013, with respect to the consolidated financial statements of WidePoint Corporation, which report appears in
the Form 10-K of WidePoint Corporation for the year ended December 31, 2012, and to the reference to our firm under
the heading &ldquo;Experts&rdquo; in the Prospectus, which is part of this Registration Statement.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">January 31, 2014</P>

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



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

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