ࡱ; HE  !"#$%&'()*+,-./0123456789:;<=>?@ABCDGIRoot Entry  \pCalc Ba= =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0 #,##0.00                + ) , *   ( ( *8  $    (     `"calculation of registratio|-axcella health inc2table of contents 1T=table of contents 1-1Jtable of contents 1-2"2Qtrust indenture act crossrYtable of contents 1-3Zdtable of contents 1-4qtable of contents 1-5$8xtrust indenture act crossr-1ހbusiness lawyeraxcella health inc-1Tp0     3  @@  CALCULATION OF REGISTRATION FEE 4Title of Each Class of Securities to be RegisteredAmount to be Registered(1)/Proposed Maximum Offering Price Per Unit(2)0Proposed Maximum Aggregate Offering Price(3)Amount of Registration Fee(4)Common Stock(5)Preferred Stock(6)Debt Securities(7) Warrants(8)Units(9)TotalN.A.Axcella Health INCVery truly yours,AXCELLA HEALTH INC.By:/s/ William HinshawName: William Hinshaw,Title: Chief Executive Officer and President+ACCEPTED as of the date first-above writtenSVB LEERINK LLC/s/ Peter M. FryName: Peter M. FryTitle: Managing DirectorTABLE OF CONTENTS 1ARTICLE1 DEFINITIONS Section1.01Definitions of TermsWARTICLE2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES Section2.01#Designation and Terms of Securities Section2.02,Formof Securities and Trustee s Certificate Section2.03%Denominations: Provisions for Payment Section2.04Execution and Authentications Section2.05%Registration of Transfer and Exchange Section2.06Temporary Securities Section2.07/Mutilated, Destroyed, Lost or Stolen Securities Section2.08 Cancellation Section2.09Benefits of Indenture Section2.10Authenticating Agent Section2.11Global Securities>ARTICLE3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS Section3.01 Redemption Section3.02Notice of Redemption Section3.03Payment Upon Redemption Section3.04 Sinking Fund Section3.055Satisfaction of Sinking Fund Payments with Securities Section3.06)Redemption of Securities for Sinking FundARTICLE4 COVENANTS Section4.01*Payment of Principal, Premium and Interest Section4.02Maintenance of Office or Agency Section4.03 Paying Agents Section4.040Appointment to Fill Vacancy in Office of Trustee Section4.05(Compliance with Consolidation ProvisionsKARTICLE5 SECURITYHOLDERS LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE Section5.01ACompany to Furnish Trustee Names and Addresses of Securityholders Section5.02@Preservation Of Information; Communications With Securityholders Section5.03Reports by the Company Section5.04Reports by the TrusteeIARTICLE6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT Section6.01Events of Default Section6.02?Collection of Indebtedness and Suits for Enforcement by Trustee Section6.03ApplicationofMoneysCollected Section6.04Limitation on Suits Section6.05<Rights and Remedies Cumulative; Delay or Omission Not Waiver Section6.06Control by Securityholders Section6.07Undertaking to Pay Costs ARTICLE7 CONCERNING THE TRUSTEE Section7.01.Certain Duties and Responsibilities of Trustee Section7.02Certain Rights of Trustee Section7.03>Trustee Not Responsible for Recitals or Issuance or Securities Section7.04MayHold Securities Section7.05Moneys Held in Trust Section7.06Compensation and Reimbursement Section7.077Reliance on Officer s Certificate or Opinion of Counsel Section7.08'Disqualification; Conflicting Interests Section7.09'Corporate Trustee Required; Eligibility Section7.101Resignation and Removal; Appointment of Successor Section7.11&Acceptance of Appointment By Successor Section7.12;Merger, Conversion, Consolidation or Succession to Business Section7.135Preferential Collection of Claims Against the Company Section7.14Notice of Default(ARTICLE8 CONCERNING THE SECURITYHOLDERS Section8.01%Evidence of Action by Securityholders Section8.02%Proof of Execution by Securityholders Section8.03Who Maybe Deemed Owners Section8.04/Certain Securities Owned by Company Disregarded Section8.05)Actions Binding on Future Securityholders!ARTICLE9 SUPPLEMENTAL INDENTURES Section9.01>Supplemental Indentures Without the Consent of Securityholders Section9.027Supplemental Indentures With Consent of Securityholders Section9.03!Effect of Supplemental Indentures Section9.04.Securities Affected by Supplemental Indentures Section9.05$Execution of Supplemental IndenturesARTICLE10 SUCCESSOR ENTITY Section10.01Company MayConsolidate, Etc Section10.02Successor Entity Substituted%ARTICLE11 SATISFACTION AND DISCHARGE Section11.01'Satisfaction and Discharge of Indenture Section11.02Discharge of Obligations Section11.03$Deposited Moneys to be Held in Trust Section11.04'Payment of Moneys Held by Paying Agents Section11.05Repayment to CompanyJARTICLE12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS Section12.01 No Recourse#ARTICLE13 MISCELLANEOUS PROVISIONS Section13.01 Effect on Successors and Assigns Section13.02Actions by Successor Section13.03Surrender of Company Powers Section13.04Notices Section13.05 Governing Law; Jury Trial Waiver Section13.06Treatment of Securities as Debt Section13.074Certificates and Opinions as to Conditions Precedent Section13.08Payments on Business Days Section13.09!Conflict with Trust Indenture Act Section13.10 Counterparts Section13.11 Separability Section13.12Compliance Certificates Section13.13USA PATRIOT ACT Section13.14 Calculations)TRUST INDENTURE ACT CROSS-REFERENCE TABLEA-12Sectionof Trust Indenture Act of 1939, as amendedSectionof Indenture310(a)310(b)310(c) Inapplicable311(a)311(b)311(c)312(a)5.02(a)312(b)5.02(c)312(c)313(a)5.04(a)313(b)5.04(b)313(c)313(d)5.04(c)314(a)314(b)314(c)13.07(a)314(d)314(e)13.07(b)314(f)315(a)7.01(a)7.01(b)315(b)315(c)315(d)315(e)316(a)316(b)316(c)317(a)317(b)318(a)Business Lawyer/s/ GOODWIN PROCTER LLP i cc   d-C6?_%,*+&ffffff?'ffffff?(?)?"d,, ` `? 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