EX-4.1


 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

MOLINA HEALTHCARE, INC. 
 AND 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
 INDENTURE 

Dated as of September 5, 2014 

1.625% Convertible Senior Notes due 2044 
  

 
  






 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE 1	  
	DEFINITIONS	  
			
	Section 1.01.	 	Definitions	  	 	1	  
	Section 1.02.	 	References to Interest	  	 	13	  
	ARTICLE 2	  
	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES	  
			
	Section 2.01.	 	Designation and Amount	  	 	13	  
	Section 2.02.	 	Form of Notes	  	 	13	  
	Section 2.03.	 	Date and Denomination of Notes; Payments of Interest and Defaulted Amounts	  	 	14	  
	Section 2.04.	 	Execution, Authentication and Delivery of Notes	  	 	15	  
	Section 2.05.	 	Exchange and Registration of Transfer of Notes; Depositary	  	 	16	  
	Section 2.06.	 	Mutilated, Destroyed, Lost or Stolen Notes	  	 	19	  
	Section 2.07.	 	Temporary Notes	  	 	20	  
	Section 2.08.	 	Cancellation of Notes Paid, Converted, Etc.	  	 	20	  
	Section 2.09.	 	CUSIP Numbers	  	 	21	  
	Section 2.10.	 	Additional Notes; Repurchases	  	 	21	  
	
	ARTICLE 3	  
	SATISFACTION AND DISCHARGE	  
			
	Section 3.01.	 	Satisfaction and Discharge	  	 	21	  
	
	ARTICLE 4	  
	PARTICULAR COVENANTS OF THE COMPANY	  
			
	Section 4.01.	 	Payment of Principal and Interest	  	 	22	  
	Section 4.02.	 	Maintenance of Office or Agency	  	 	23	  
	Section 4.03.	 	Appointments to Fill Vacancies in Trustee’s Office	  	 	24	  
	Section 4.04.	 	Provisions as to Paying Agent	  	 	24	  
	Section 4.05.	 	Existence	  	 	26	  
	Section 4.06.	 	Annual Reports	  	 	26	  
	Section 4.07.	 	Stay, Extension and Usury Laws	  	 	26	  
	Section 4.08.	 	Compliance Certificate; Statements as to Defaults	  	 	26	  
	Section 4.09.	 	Further Instruments and Acts	  	 	27	  
	Section 4.10.	 	Tax Treatment	  	 	27	  
	Section 4.11.	 	Comparable Yield and Projected Payment Schedule	  	 	27	  
	Section 4.12.	 	Par Value Limitation	  	 	28	  
	Section 4.13.	 	Additional Interest	  	 	28	  


  
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	ARTICLE 5	  
	LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE
TRUSTEE	  
			
	 Section 5.01.
	 	Lists of Holders	  	 	28	  
	 Section 5.02.
	 	Preservation and Disclosure of Lists	  	 	28	  
	
	ARTICLE 6	  
	DEFAULTS AND REMEDIES	  
			
	Section 6.01.	 	Events of Default	  	 	29	  
	Section 6.02.	 	Acceleration; Rescission and Annulment	  	 	30	  
	Section 6.03.	 	Additional Interest	  	 	31	  
	Section 6.04.	 	Payments of Notes on Default; Suit Therefor	  	 	32	  
	Section 6.05.	 	Application of Monies Collected by Trustee	  	 	34	  
	Section 6.06.	 	Proceedings by Holders	  	 	34	  
	Section 6.07.	 	Proceedings by Trustee	  	 	35	  
	Section 6.08.	 	Remedies Cumulative and Continuing	  	 	35	  
	Section 6.09.	 	Direction of Proceedings and Waiver of Defaults by Majority of Holders	  	 	36	  
	Section 6.10.	 	Notice of Defaults	  	 	36	  
	Section 6.11.	 	Undertaking to Pay Costs	  	 	37	  
	
	ARTICLE 7	  
	CONCERNING THE TRUSTEE	  
			
	Section 7.01.	 	Duties and Responsibilities of Trustee	  	 	37	  
	Section 7.02.	 	Reliance on Documents, Opinions, Etc.	  	 	39	  
	Section 7.03.	 	No Responsibility for Recitals, Etc.	  	 	40	  
	Section 7.04.	 	Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes	  	 	40	  
	Section 7.05.	 	Monies to Be Held in Trust	  	 	40	  
	Section 7.06.	 	Compensation and Indemnification of Trustee	  	 	40	  
	Section 7.07.	 	Officers’ Certificate as Evidence	  	 	41	  
	Section 7.08.	 	Eligibility of Trustee	  	 	42	  
	Section 7.09.	 	Resignation or Removal of Trustee	  	 	42	  
	Section 7.10.	 	Acceptance by Successor Trustee	  	 	43	  
	Section 7.11.	 	Succession by Merger, Etc.	  	 	43	  
	Section 7.12.	 	Trustee’s Application for Instructions from the Company	  	 	44	  
	
	ARTICLE 8	  
	CONCERNING THE HOLDERS	  
			
	Section 8.01.	 	Action by Holders	  	 	44	  
	Section 8.02.	 	Proof of Execution by Holders	  	 	45	  
	Section 8.03.	 	Who Are Deemed Absolute Owners	  	 	45	  
	Section 8.04.	 	Company-Owned Notes Disregarded	  	 	45	  
	Section 8.05.	 	Revocation of Consents; Future Holders Bound	  	 	46	  


  
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	ARTICLE 9	  
	HOLDERS’ MEETINGS	  
			
	Section 9.01.	  	Purpose of Meetings	  	 	46	  
	Section 9.02.	  	Call of Meetings by Trustee	  	 	47	  
	Section 9.03.	  	Call of Meetings by Company or Holders	  	 	47	  
	Section 9.04.	  	Qualifications for Voting	  	 	47	  
	Section 9.05.	  	Regulations	  	 	47	  
	
	ARTICLE 10	  
	SUPPLEMENTAL INDENTURES	  
			
	Section 10.01.	  	Supplemental Indentures Without Consent of Holders	  	 	49	  
	Section 10.02.	  	Supplemental Indentures with Consent of Holders	  	 	49	  
	Section 10.03.	  	Effect of Supplemental Indentures	  	 	51	  
	Section 10.04.	  	Notation on Notes	  	 	51	  
	Section 10.05.	  	Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee	  	 	51	  
	
	ARTICLE 11	  
	CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE	  
			
	 Section 11.01.
	  	Company May Consolidate, Etc. on Certain Terms	  	 	51	  
	 Section 11.02.
	  	Successor Corporation to Be Substituted	  	 	52	  
	
	ARTICLE 12	  
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  
			
	 Section 12.01.
	  	Indenture and Notes Solely Corporate Obligations	  	 	53	  
	
	ARTICLE 13	  
	[INTENTIONALLY OMITTED]	  
	
	ARTICLE 14	  
	CONVERSION OF NOTES	  
			
	 Section 14.01.
	  	Conversion Privilege	  	 	53	  
	Section 14.02.	  	Conversion Procedure; Payment Upon Conversion	  	 	56	  
	Section 14.03.	  	Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes	  	 	59	  
	Section 14.04.	  	Adjustment of Conversion Rate	  	 	61	  
	Section 14.05.	  	Adjustments of Prices	  	 	70	  
	Section 14.06.	  	[Reserved]	  	 	70	  
	Section 14.07.	  	Effect of Recapitalizations, Reclassifications and Changes of the Common Stock	  	 	70	  
	Section 14.08.	  	Certain Covenants	  	 	72	  
	Section 14.09.	  	Responsibility of Trustee	  	 	73	  


  
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	Section 14.10.	  	Notice to Holders Prior to Certain Actions	  	 	73	  
	 Section 14.11.
	  	Stockholder Rights Plans	  	 	74	  
	
	ARTICLE 15	  
	REPURCHASE OF NOTES AT OPTION OF HOLDERS	  
			
	 Section 15.01.
	  	Repurchase at Option of Holders on Specified Repurchase Dates	  	 	74	  
	 Section 15.02.
	  	Repurchase at Option of Holders Upon a Fundamental Change	  	 	76	  
	 Section 15.03.
	  	Withdrawal of Repurchase Notice	  	 	78	  
	 Section 15.04.
	  	Deposit of Repurchase Price	  	 	79	  
	 Section 15.05.
	  	Covenant to Comply with Applicable Laws Upon Repurchase of Notes	  	 	80	  
	
	ARTICLE 16	  
	REDEMPTION	  
			
	 Section 16.01.
	  	Redemption Rights	  	 	80	  
	 Section 16.02.
	  	Redemption Price	  	 	81	  
	 Section 16.03.
	  	Redemption Notice	  	 	81	  
	 Section 16.04.
	  	Payment of Notes Called for Redemption	  	 	82	  
	 Section 16.05.
	  	Redemption in Part	  	 	82	  
	 Section 16.06.
	  	Restrictions on Redemption	  	 	83	  
	
	ARTICLE 17	  
	MISCELLANEOUS PROVISIONS	  
			
	 Section 17.01.
	  	Provisions Binding on Company’s Successors	  	 	83	  
	 Section 17.02.
	  	Official Acts by Successor Corporation	  	 	83	  
	 Section 17.03.
	  	Addresses for Notices, Etc.	  	 	83	  
	 Section 17.04.
	  	Governing Law; Jurisdiction	  	 	84	  
	 Section 17.05.
	  	Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	  	 	84	  
	 Section 17.06.
	  	Legal Holidays	  	 	85	  
	 Section 17.07.
	  	No Security Interest Created	  	 	85	  
	 Section 17.08.
	  	Benefits of Indenture	  	 	85	  
	 Section 17.09.
	  	Table of Contents, Headings, Etc.	  	 	85	  
	 Section 17.10.
	  	Authenticating Agent	  	 	85	  
	 Section 17.11.
	  	Execution in Counterparts	  	 	86	  
	 Section 17.12.
	  	Severability	  	 	87	  
	 Section 17.13.
	  	Waiver of Jury Trial	  	 	87	  
	 Section 17.14.
	  	Force Majeure	  	 	87	  
	 Section 17.15.
	  	Calculations	  	 	87	  
	 Section 17.16.
	  	U.S.A. Patriot Act	  	 	87	  
	
	EXHIBIT	  
	 Exhibit A Form of Note
	  	 	A-1	  


  
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 INDENTURE dated as of September 5, 2014 between MOLINA HEALTHCARE, INC., a Delaware
corporation, as issuer (the “Company”, as more fully set forth in Section 1.01) and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized under the laws of the United States, as trustee (the
“Trustee”, as more fully set forth in Section 1.01). 
 W I T N E S S E T H: 

WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of its 1.625% Convertible Senior Notes due
2044 (the “Notes”), initially in an aggregate principal amount not to exceed $176,551,000, and in order to provide the terms and conditions upon which the Notes are to be authenticated, issued and delivered, the Company has duly
authorized the execution and delivery of this Indenture; and 
 WHEREAS, the Form of Note, the certificate of authentication to be
borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Repurchase Notice, the Form of Specified Date Repurchase Notice and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the
forms hereinafter provided; and 
 WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and authenticated
and delivered by the Trustee or a duly authorized authenticating agent, as in this Indenture provided, the valid, binding and legal obligations of the Company, and this Indenture a valid agreement according to its terms, have been done and
performed, and the execution of this Indenture and the issuance hereunder of the Notes have in all respects been duly authorized. 
 NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 
 That in order to declare the terms and conditions upon which the Notes are, and are to be,
authenticated, issued and delivered, and in consideration of the premises and of the acquisition and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate benefit of the
respective Holders from time to time of the Notes (except as otherwise provided below), as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Definitions. The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless
the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. The words “herein,” “hereof,”
“hereunder,” and words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article include the plural as well as the singular. 






 “Additional Interest” means all amounts, if any, payable pursuant to
Section 4.13 or Section 6.03. 
 “Additional Shares” shall have the meaning specified in Section 14.03(a). 

“Affiliate” 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, “control,” when used with respect to any specified Person means the power to direct or cause the direction of the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Applicable Procedures” means, with respect to any matter at any time, the policies and procedures of a Depositary, if
any, that are applicable to such matter at such time. 
 “Bid Solicitation Agent” means the Person appointed
by the Company to solicit bids for the Trading Price of the Notes in accordance with Section 4.01(c) and Section 14.01(b)(i). The Trustee shall initially act as the Bid Solicitation Agent. 

“Board of Directors” means the board of directors of the Company or a committee of such board duly authorized to act
for it hereunder. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors, and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is
authorized or required by law or executive order to close or be closed. 
 “Capital Stock” means, for any
entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity. 

“Clause A Distribution” shall have the meaning specified in Section 14.04(c). 

“Clause B Distribution” shall have the meaning specified in Section 14.04(c). 

“Clause C Distribution” shall have the meaning specified in Section 14.04(c). 

“close of business” means 5:00 p.m. (New York City time). 

“Commission” means the U.S. Securities and Exchange Commission. 

  
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 “Common Equity” of any Person means Capital Stock of such Person that is
generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control
the management or policies of such Person. 
 “Common Stock” means the common stock of the Company, par value $0.001
per share, at the date of this Indenture, subject to Section 14.07. 
 “Company” shall have the meaning specified in
the first paragraph of this Indenture and, subject to the provisions of Article 11, shall include its successors and assigns. 

“Company Order” means a written order of the Company, signed by (a) the Company’s Chief Executive Officer,
President, Chief Financial Officer, Executive or Senior Vice President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice President”) and (b) any such other
Officer designated in clause (a) of this definition or the Company’s Treasurer or Assistant Treasurer or Secretary or any Assistant Secretary, and delivered to the Trustee. 

“Contingent Debt Regulations” shall have the meaning specified in Section 4.10(a). 

“Contingent Interest” shall have the meaning specified in Section 4.01(a). 

“Conversion Agent” shall have the meaning specified in Section 4.02. 

“Conversion Date” shall have the meaning specified in Section 14.02(c). 

“Conversion Obligation” shall have the meaning specified in Section 14.01(a). 

“Conversion Price” means as of any date, $1,000, divided by the Conversion Rate as of such
date. 
 “Conversion Rate” shall have the meaning specified in Section 14.01(a). 

“Corporate Trust Office” means the principal office of the Trustee at which at any time this Indenture shall be
administered, which office at the date hereof is located at U.S. Bank National Association, Corporate Trust Services, 633 West Fifth Street, 24th Floor, Los Angeles, CA 90071, Attention: Paula Oswald (Molina Healthcare Conv Sr Notes due 2044), or
such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor trustee (or such other address as such successor trustee may designate from time to
time by notice to the Holders and the Company). 
 “Custodian” means the Trustee, as custodian for The
Depository Trust Company, with respect to the Global Notes, or any successor entity thereto. 

  
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 “Daily Conversion Value” means, for each of the 25 consecutive Trading
Days during the applicable Observation Period, 4.0% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day. 

“Daily Measurement Value” means $40. 

“Daily Settlement Amount,” for each of the 25 consecutive Trading Days during the Observation Period, shall consist of: 

(a) cash in an amount equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily Conversion Value on
such Trading Day; and 
 (b) if the Daily Conversion Value on such Trading Day exceeds the Daily Measurement Value, a number
of shares of Common Stock equal to (i) the excess of the Daily Conversion Value over the Daily Measurement Value, divided by (ii) the Daily VWAP for such Trading Day. 

“Daily VWAP” means, for each of the 25 consecutive Trading Days during the applicable Observation Period, the per
share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “MOH <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the
scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such Trading Day
determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to after-hours trading
or any other trading outside of the regular trading session trading hours. 
 “Default” means any event that is, or
after notice or passage of time, or both, would be, an Event of Default. 
 “Defaulted Amounts” means any amounts on
any Note (including, without limitation, the Fundamental Change Repurchase Price, the Specified Date Repurchase Price, the Redemption Price, principal and interest) that are payable but are not punctually paid or duly provided for. 

“Depositary” means, with respect to each Global Note, the Person specified in Section 2.05(c) as the Depositary with
respect to such Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary” shall mean or include such successor. 

“Distributed Property” shall have the meaning specified in Section 14.04(c). 

“Downside Trigger” means: 

  
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 (a) for the semiannual interest period commencing immediately following the
Interest Payment Date on August 15, 2018, $500 per $1,000 principal amount of Notes; and 
 (b) for each semiannual
interest period thereafter, an amount equal to the lesser of (i) $900 per $1,000 principal amount of Notes and (ii) an amount per $1,000 principal amount of Notes equal to (A) the Downside Trigger applicable to the immediately
preceding semiannual interest period plus (B) $12.50. 
 “Effective Date” shall have the meaning specified in
Section 14.03(c), except that, as used in Section 14.04, “Effective Date” means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, reflecting the
relevant share split or share combination, as applicable. 
 “Event of Default” shall have the meaning specified in
Section 6.01. 
 “Ex-Dividend Date” means the first date on which shares of the Common Stock trade on the
applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the
form of due bills or otherwise) as determined by such exchange or market. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 “Extraordinary
Dividend” shall have the meaning specified in Section 4.01(b). 
 “Form of Assignment and Transfer” shall
mean the “Form of Assignment and Transfer” attached as Attachment 4 to the Form of Note attached hereto as Exhibit A. 

“Form of Fundamental Change Repurchase Notice” shall mean the “Form of Fundamental Change Repurchase Notice”
attached as Attachment 2 to the Form of Note attached hereto as Exhibit A. 
 “Form of Notice of Conversion”
shall mean the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A. 

“Form of Specified Date Repurchase Notice” shall mean the “Form of Specified Date Repurchase Notice”
attached as Attachment 3 to the Form of Note attached hereto as Exhibit A. 
 “Fundamental Change” shall be
deemed to have occurred at the time after the Notes are originally issued if any of the following occurs: 
 (a) a
“person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, its Subsidiaries and the employee benefit plans of the Company and its Subsidiaries, files a Schedule TO or any schedule,
form or report under the Exchange Act disclosing that such person or group has 

  
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become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s Common Equity representing more than 50% of the voting power of
the Company’s Common Equity; 
 (b) the consummation of (A) any recapitalization, reclassification or change of the
Common Stock (other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets; (B) any share exchange,
consolidation or merger of the Company pursuant to which the Common Stock will be converted into cash, securities or other property; or (C) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially
all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one of the Company’s Subsidiaries; provided, however, that a transaction described in clause (B) in which the holders of all
classes of the Company’s Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee or the parent thereof immediately
after such transaction in substantially the same proportions as such ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b); 

(c) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company; or 

(d) the Common Stock (or, in the event a Merger Event occurs, such other common stock constituting, in whole or in part, the
Reference Property then underlying the Notes) ceases to be listed or quoted on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors); 

provided, however, that a transaction or transactions described in clause (b) above shall not constitute a
Fundamental Change if at least 90% of the consideration received or to be received by the common stockholders of the Company, excluding cash payments for fractional shares, in connection with such transaction or transactions consists of shares of
common stock that are listed or quoted on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection
with such transaction or transactions and as a result of such transaction or transactions the Reference Property for the Notes becomes such consideration, excluding cash payments for fractional shares (subject to the provisions of
Section 14.02(a)) (the exception in this proviso, the “Listed Stock Exception”).  
 “Fundamental
Change Company Notice” shall have the meaning specified in Section 15.02(c). 
 “Fundamental Change Expiration
Time” shall have the meaning specified in Section 15.02(b). 

  
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 “Fundamental Change Repurchase Date” shall have the meaning specified in Section
15.02(a). 
 “Fundamental Change Repurchase Notice” shall have the meaning specified in Section 15.02(b)(i). 

“Fundamental Change Repurchase Price” shall have the meaning specified in Section 15.02(a). 

“Global Note” shall have the meaning specified in Section 2.05(b). 

“Holder,” as applied to any Note, or other similar terms (but excluding the term “beneficial holder”), shall
mean any Person in whose name at the time a particular Note is registered on the Note Register. 

“Indenture” means this instrument as originally executed or, if amended or supplemented as herein provided, as so
amended or supplemented. 
 “Interest Payment Date” means each February 15 and August 15 of each year,
beginning on February 15, 2015. 
 “Last Reported Sale Price” of the Common Stock on any date means the closing
sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions
for the principal U.S. national or regional securities exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the “Last Reported
Sale Price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted, the “Last
Reported Sale Price” shall be the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date obtained from each of at least three nationally recognized independent investment banking firms selected by
the Company for this purpose. 
 “Listed Stock Exception” shall have the meaning set forth in the definition
of “Fundamental Change” as specified in this Section 1.01. 
 “Make-Whole Fundamental Change” means
any transaction or event that constitutes a Fundamental Change pursuant to clauses (a), (b) or (d) of the definition thereof and determined after giving effect to any exceptions to or exclusions from such definition, but without regard to
the proviso in clause (b) of such definition). 
 “Market Disruption Event” means
(a) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence
prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the  

  
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Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits
permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 

“Maturity Date” means August 15, 2044. 

“Measurement Period” shall have the meaning specified in Section 14.01(b)(i). 

“Merger Event” shall have the meaning specified in Section 14.07(a). 

“Note” or “Notes” shall have the meaning specified in the first paragraph of the recitals of this Indenture.

 “Note Register” shall have the meaning specified in Section 2.05(a). 

“Note Registrar” shall have the meaning specified in Section 2.05(a). 

“Notice of Conversion” shall have the meaning specified in Section 14.02(b). 

“Observation Period” with respect to any Note surrendered for conversion means: (i) if the relevant Conversion
Date occurs prior to the 30th Scheduled Trading Day immediately preceding the Maturity Date, the 25 consecutive Trading Day period beginning on, and including, the second Trading Day immediately
succeeding such Conversion Date; and (ii) if the relevant Conversion Date occurs on or after the 30th Scheduled Trading Day immediately preceding the Maturity Date , the 25 consecutive
Trading Days beginning on, and including, the 27th Scheduled Trading Day immediately preceding the Maturity Date. 

“Officer” means, with respect to the Company, the President, the Chief Executive Officer, the Chief Financial Officer,
the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary, any Executive or Senior Vice President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title
“Vice President”). 
 “Officers’ Certificate,” when used with respect to the Company, means a
certificate that is delivered to the Trustee and that is signed by (a) two Officers of the Company or (b) one Officer of the Company and one of the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary or the
Controller of the Company. Each such certificate shall include the statements provided for in Section 17.05 if and to the extent required by the provisions of such Section. One of the Officers giving an Officers’ Certificate pursuant to
Section 4.08 shall be the principal executive, financial or accounting officer of the Company. 
 “open of
business” means 9:00 a.m. (New York City time). 

  
 8 







 “Opinion of Counsel” means an opinion in writing signed by legal counsel
reasonably acceptable to the Trustee, who may be an employee or officer of or counsel to the Company, or other counsel, that is delivered to the Trustee. Each such opinion shall include the statements provided for in Section 17.05 if and to the
extent required by the provisions of such Section 17.05. 
 “outstanding,” when used with reference to Notes, shall,
subject to the provisions of Section 8.04, mean, as of any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except: 

(a) Notes theretofore canceled by the Trustee or accepted by the Trustee for cancellation; 

(b) Notes, or portions thereof, that have become due and payable and in respect of which monies in the necessary amount shall
have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent); 

(c) Notes that have been paid pursuant to Section 2.06 or Notes in lieu of which, or in substitution for which, other
Notes shall have been authenticated and delivered pursuant to the terms of Section 2.06 unless proof satisfactory to the Trustee is presented that any such Notes are held by protected purchasers in due course; 

(d) Notes converted pursuant to Article 14 and required to be cancelled pursuant to Section 2.08; and 

(e) Notes repurchased by the Company pursuant to the penultimate sentence of Section 2.10. 

“Paying Agent” shall have the meaning specified in Section 4.02. 

“Person” means an individual, a corporation, a limited liability company, an association, a partnership, a joint
venture, a joint stock company, a trust, an unincorporated organization or a government or an agency or a political subdivision thereof or any other entity. 

“Physical Notes” means permanent certificated Notes in registered form issued in denominations of $1,000 principal
amount and integral multiples of $1,000 in excess thereof. 
 “Predecessor Note” of any particular Note means every
previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a mutilated,
lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note that it replaces. 

  
 9 







 “Redemption Date” shall have the meaning specified in Section 16.03(a).

 “Redemption Notice” shall have the meaning specified in Section 16.03. 

“Redemption Price” shall have the meaning specified in Section 16.02. 

“Reference Property” shall have the meaning specified in Section 14.07(a). 

“Regular Record Date,” with respect to any Interest Payment Date, shall mean the February 1 or August 1
(whether or not such day is a Business Day) immediately preceding the applicable February 15 or August 15 Interest Payment Date, respectively. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the Corporate Trust Office of
the Trustee who has direct responsibility for the administration of this Indenture, and shall also mean any other officer of the Trustee to whom any corporate trust matter relating to this Indenture is referred because of such person’s
knowledge of and familiarity with the particular subject matter. 
 “Scheduled Trading Day” means a day that
is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled
Trading Day” means a Business Day. 
 “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder. 
 “Settlement Amount” shall have the meaning specified in Section
14.02(a). 
 “Significant Subsidiary” means a Subsidiary of the Company that meets the definition of
“significant subsidiary” in Article 1, Rule 1-02 of Regulation S-X under the Exchange Act. 
 “Specified Date
Repurchase Price” shall have the meaning specified in Section 15.01(a). 
 “Specified Date Repurchase Company
Notice” shall have the meaning specified in Section 15.01(c). 
 “Specified Repurchase Date” shall have the
meaning specified in Section 15.01(a). 
 “Specified Repurchase Date Expiration Time” shall have the meaning specified
in Section 15.02(b). 
 “Spin-Off” shall have the meaning specified in Section 14.04(c). 

  
 10 







 “Stock Price” shall have the meaning specified in Section 14.03(c). 

“Subsidiary” means, with respect to any Person, any corporation, association, partnership or other business entity of
which more than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general
partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person. 

“Successor Company” shall have the meaning specified in Section 11.01(a). 

“Trading Day” means a day on which (i) trading in the Common Stock (or other security for which a closing sale
price must be determined) generally occurs on The New York Stock Exchange or, if the Common Stock (or such other security) is not then listed on The New York Stock Exchange, on the principal other U.S. national or regional securities exchange on
which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock (or such
other security) is then traded and (ii) a Last Reported Sale Price for the Common Stock (or such other security) is available on such securities exchange or market; provided that if the Common Stock (or such other security)
is not so listed or traded, “Trading Day” means a Business Day; and provided, further, that for purposes of determining amounts due upon conversion only, “Trading Day” means
a day on which (x) there is no Market Disruption Event and (y) trading in the Common Stock generally occurs on The New York Stock Exchange or, if the Common Stock is not then listed on The New York Stock Exchange, on the principal other
U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then
listed or admitted for trading, except that if the Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day. 

“Trading Price” of the Notes on any date of determination means the average of the secondary market bid quotations
obtained by the Bid Solicitation Agent for $5,000,000 principal amount of Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers the Company selects for this
purpose; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be
obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of Notes from a nationally recognized securities dealer on any determination
date, then the Trading Price per $1,000 principal amount of Notes on such determination date shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. 

  
 11 







 Notwithstanding anything above, for the purposes of determining whether Contingent
Interest is payable on the Notes pursuant to Section 4.01, “Trading Price” on any date of determination means the average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $5,000,000 principal amount of
Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers the Company selects for this purpose; provided that, if three such bids cannot reasonably be
obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid
Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of Notes from a nationally recognized securities dealer on any determination date, then only for the purposes of determining whether Contingent Interest is
payable on the Notes, the Trading Price per $1,000 principal amount of Notes for such Trading Day will be deemed to be equal to the greater of (i) the Upside Trigger and (ii) the product of the Last Reported Sale Price of the Common Stock
and the applicable Conversion Rate on such Trading Day. Any such determination shall be conclusive absent manifest error. If (x) the Company does not, when it is required to, instruct the Bid Solicitation Agent (if other than the Company) to
obtain bids or (y) the Company gives such instruction to the Bid Solicitation Agent (if other than the Company), or if the Company is acting as Bid Solicitation Agent, and the Bid Solicitation Agent fails to make such determination, then, in
either case, only for the purposes of determining whether Contingent Interest is payable on the Notes, the Trading Price per $1,000 principal amount of the Notes for any such Trading Day will be deemed to be equal to the greater of (i) the
Upside Trigger and (ii) the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate on such Trading Day. 

“transfer” shall have the meaning specified in Section 2.05(c). 

“Trigger Event” shall have the meaning specified in Section 14.04(c). 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as it was in force at the date of execution
of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after the date hereof, the term “Trust Indenture Act” shall mean, to the extent required by
such amendment, the Trust Indenture Act of 1939, as so amended. 
 “Trustee” means the Person named as the
“Trustee” in the first paragraph of this Indenture until a successor trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person
who is then a Trustee hereunder. 
 “unit of Reference Property” shall have the meaning specified in
Section 14.07(a). 
 “Upside Trigger” means $1,300 per $1,000 principal amount of Notes. 

  
 12 







 “Valuation Period” shall have the meaning specified in Section 14.04(c).

 Section 1.02. References to Interest. Unless the context otherwise requires, any reference to interest on, or in respect of,
any Note in this Indenture shall be deemed to include Contingent Interest and/or Additional Interest, as applicable, if, in such context, Contingent Interest and/or Additional Interest, as applicable, is, was or would be payable pursuant to
Section 4.01, Section 4.13 and/or Section 6.03. Unless the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those provisions
hereof where such express mention is not made. Any express reference to Contingent Interest or Additional Interest, as applicable, in this Indenture should not be construed as excluding Contingent Interest or Additional Interest, as applicable,
anywhere else in this Indenture where no such express reference is made. The Trustee shall have no obligation to calculate Contingent Interest or Additional interest or to determine whether Contingent Interest or Additional Interest is payable. 

ARTICLE 2 
 ISSUE,
DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 

Section 2.01. Designation and Amount. The Notes shall be designated as the “1.625% Convertible Senior Notes due 2044.”
The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to $176,551,000, subject to Section 2.10 and except for Notes authenticated and delivered upon registration or transfer
of, or in exchange for, or in lieu of other Notes pursuant to Section 2.05, Section 2.06, Section 2.07, Section 10.04, Section 14.02 and Section 15.04. 

Section 2.02. Form of Notes . The Notes and the Trustee’s certificate of authentication to be borne by such Notes shall be
substantially in the respective forms set forth in Exhibit A, the terms and provisions of which shall constitute, and are hereby expressly incorporated in and made a part of this Indenture. To the extent applicable, the Company and the Trustee, by
their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 Any Global Note may
be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Indenture as may be required by the Custodian or the Depositary, or as may be required to comply with any
applicable law or any regulation thereunder or with the rules and regulations of any securities exchange or automated quotation system upon which the Notes may be listed or traded or designated for issuance or to conform with any usage with respect
thereto, or to indicate any special limitations or restrictions to which any particular Notes are subject. 
 Any of the Notes may have such
letters, numbers or other marks of identification and such notations, legends or endorsements as the Officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or 

  
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regulation of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special limitations or
restrictions to which any particular Notes are subject. 
 Each Global Note shall represent such principal amount of the outstanding Notes
as shall be specified therein and shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be increased or reduced to reflect repurchases, redemptions, cancellations, conversions, transfers or exchanges permitted hereby. Any endorsement of the Global Note to reflect the amount of any increase or decrease in the amount of
outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with this Indenture. Payment of principal
(including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, the Global Note shall be made to the Holder of such Note on the date of payment, unless
a record date or other means of determining Holders eligible to receive payment is provided for herein. 
 Section 2.03. Date and
Denomination of Notes; Payments of Interest and Defaulted Amounts. (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples of $1,000 in excess thereof. Each Note
shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial
months, on the basis of actual days elapsed over a 30-day month; provided, however, that, for any period in which a particular interest rate is applicable for less than a full semiannual period, interest on the Notes will be computed on the basis of
a 30-day month and, for partial months, on the basis of actual days elapsed over a 30-day month. 
 (b) The Person in whose name any Note
(or its Predecessor Note) is registered on the Note Register at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest
shall be payable at the office or agency of the Company maintained by the Company for such purposes in the Borough of Manhattan, The City of New York, which shall initially be the office or agency of the Trustee in such location. The Company shall
pay interest (i) on any Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of these Notes at their address as it appears in the Note Register and
(B) to Holders holding Physical Notes having an aggregate principal amount of more than $5,000,000, either by check mailed to such Holders or, upon application by such Holder to the Note Registrar not later than the relevant Regular Record
Date, by wire transfer in immediately available funds to that Holder’s account within the United States, which application shall remain in effect until the Holder notifies, in writing, the Note Registrar to the contrary or (ii) on any
Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee. 

  
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 (c) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant
payment date but shall accrue interest per annum at the rate borne by the Notes, subject to the enforceability thereof under applicable law, from, and including, such relevant payment date, and such Defaulted Amounts together with such interest
thereon shall be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below: 
 (i)
The Company may elect to make payment of any Defaulted Amounts to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted
Amounts, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 25 days
after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such
Defaulted Amounts or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Amounts as in this clause provided. Thereupon the Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment, and not
less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee of such special record date and the Trustee, in the name and at the expense of the Company, shall cause notice of
the proposed payment of such Defaulted Amounts and the special record date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note Register or, in the case of Global Notes, in accordance with the
Applicable Procedures, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Amounts and the special record date therefor having been so sent, such Defaulted Amounts shall be paid to the Persons in
whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special record date and shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c). 

(ii) The Company may make payment of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements of
any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.04. Execution, Authentication and Delivery of Notes . The Notes shall be signed in the name and on behalf of the
Company by the manual or facsimile signature of its Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or any of its Executive or Senior Vice Presidents. 

  
 15 







 At any time and from time to time after the execution and delivery of this Indenture, the Company
may deliver Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order shall authenticate and deliver such
Notes, without any further action by the Company hereunder. 
 Only such Notes as shall bear thereon a certificate of authentication
substantially in the form set forth on the form of Note attached as Exhibit A hereto, executed manually by an authorized officer of the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 17.10), shall be
entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated
has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. 
 In case any
Officer of the Company who shall have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee, or disposed of by the Company, such Notes nevertheless may be
authenticated and delivered or disposed of as though the Person who signed such Notes had not ceased to be such Officer of the Company; and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of
such Note, shall be the Officers of the Company, although at the date of the execution of this Indenture any such Person was not such an Officer. 

Section 2.05. Exchange and Registration of Transfer of Notes; Depositary. (a) The Company shall cause to be kept at
the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to Section 4.02, the “Note Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. Such register shall be in written form or in any form capable of being converted into written form within a reasonable
period of time. The Trustee is hereby initially appointed the “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. The Company may appoint one or more co-Note Registrars in
accordance with Section 4.02. 
 Upon surrender for registration of transfer of any Note to the Note Registrar or any co-Note
Registrar, and satisfaction of the requirements for such transfer set forth in this Section 2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more
new Notes of any authorized denominations and of a like aggregate principal amount and bearing such restrictive legends as may be required by this Indenture. 

Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes
to be exchanged at any 

  
 16 







 
such office or agency maintained by the Company pursuant to Section 4.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate
and deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding. 

All Notes presented or surrendered for registration of transfer or for exchange, repurchase, redemption or conversion shall (if so required by
the Company, the Trustee, the Note Registrar or any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and duly executed, by the Holder thereof or its
attorney-in-fact duly authorized in writing. 
 No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any
co-Note Registrar or the Paying Agent for any exchange or registration of transfer of Notes, but the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in connection
therewith as a result of the name of the Holder of new Notes issued upon such exchange or registration of transfer being different from the name of the Holder of the old Notes surrendered for exchange or registration of transfer. 

None of the Company, the Trustee, the Note Registrar or any co-Note Registrar shall be required to exchange or register a transfer of
(i) any Notes surrendered for conversion or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion or (ii) any Notes, or a portion of any Note, surrendered for repurchase (and not
withdrawn) in accordance with Article 15. 
 All Notes issued upon any registration of transfer or exchange of Notes in accordance with this
Indenture shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such registration of transfer or exchange. 

(b) So long as the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law, subject to the third
paragraph of Section 2.05(c), all Notes shall be represented by one or more Notes in global form (each, a “Global Note”) registered in the name of the Depositary or the nominee of the Depositary. The transfer and exchange of
beneficial interests in a Global Note that does not involve the issuance of a Physical Note, shall be effected through the Depositary (but not the Trustee or the Custodian) in accordance with this Indenture and the Applicable Procedures. 

(c) Notwithstanding any other provisions of this Indenture (other than the provisions set forth in this Section 2.05(c)), a Global Note
may not be transferred as a whole or in part except (i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary and (ii) for transfers of portions of a Global Note in certificated form made upon request of a member of, or a participant in, the Depositary (for itself or on behalf of a
beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance with the Applicable Procedures and in compliance with this Section 2.05(c). 

  
 17 







 The Depositary shall be a clearing agency registered under the Exchange Act. The Company
initially appoints The Depository Trust Company to act as Depositary with respect to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as the nominee of the Depositary,
and deposited with the Trustee as custodian for Cede & Co. 
 If (i) the Depositary notifies the Company at any time that the
Depositary is unwilling or unable to continue as depositary for the Global Notes and a successor depositary is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a successor
depositary is not appointed within 90 days or (iii) an Event of Default with respect to the Notes has occurred and is continuing and a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note, the
Company shall execute, and the Trustee, upon receipt of an Officers’ Certificate and a Company Order for the authentication and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such
beneficial owner in a principal amount equal to the principal amount of such Note corresponding such beneficial owner’s beneficial interest and (y) in the case of clause (i) or (ii), Physical Notes to each beneficial owner of the
related Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global Notes shall
be canceled. 
 Physical Notes issued in exchange for all or a part of the Global Note pursuant to this Section 2.05(c) shall be
registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. Upon execution and authentication, the Trustee shall deliver
such Physical Notes to the Persons in whose names such Physical Notes are so registered. 
 At such time as all interests in a Global Note
have been converted, canceled, repurchased or transferred, such Global Note shall be, upon receipt thereof, canceled by the Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At any
time prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, converted, canceled, repurchased, redeemed or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or
transferred for part of such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions existing between the Depositary and the Custodian, be appropriately reduced or increased, as the
case may be, and an endorsement shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction or increase. 

Neither the Company, the Trustee nor any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the
records relating to or 

  
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payments made on account of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

(d) [Reserved]. 
 (e) Any Note
that is repurchased or owned by any Affiliate of the Company may not be resold by such Affiliate unless registered under the Securities Act or resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction
that results in such Note no longer being a “restricted security” (as defined under Rule 144 under the Securities Act). The Company shall cause any Note that is repurchased or owned by it to be surrendered to the Trustee for cancellation
in accordance with Section 2.08. 
 Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall
become mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its written request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and deliver, a new Note, bearing a
registration number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note shall furnish
to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless from any loss, liability, cost or expense caused by or connected with such
substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such
Note and of the ownership thereof. 
 The Trustee or such authenticating agent may authenticate any such substituted Note and deliver
the same upon the receipt of such security or indemnity as the Trustee, the Company and, if applicable, such authenticating agent may require. No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any co-Note Registrar
or the Paying Agent upon the issuance of any substitute Note, but the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in connection therewith as a result of the name of
the Holder of the new substitute Note being different from the name of the Holder of the old Note that became mutilated or was destroyed, lost or stolen. In case any Note that has matured or is about to mature or has been surrendered for required
repurchase or is about to be converted in accordance with Article 14 shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or convert or
authorize the conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to such
authenticating agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft,
evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

  
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 Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of
the fact that any Note is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but
shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express condition that
the foregoing provisions are exclusive with respect to the replacement or payment or conversion or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute
existing or hereafter enacted to the contrary with respect to the replacement or payment or conversion of negotiable instruments or other securities without their surrender. 

Section 2.07. Temporary Notes. Pending the preparation of Physical Notes, the Company may execute and the Trustee or an
authenticating agent appointed by the Trustee shall, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the
form of the Physical Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and authenticated by the
Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Physical Notes. Without unreasonable delay, the Company shall execute and deliver to the Trustee or such
authenticating agent Physical Notes (other than any Global Note) and thereupon any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to
Section 4.02 and the Trustee or such authenticating agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Physical Notes. Such exchange shall be made by the Company at its own expense
and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Physical Notes authenticated and delivered hereunder.

 Section 2.08. Cancellation of Notes Paid, Converted, Etc. The Company shall cause all Notes surrendered for the
purpose of payment, repurchase, redemption, registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s Agents, Subsidiaries or Affiliates), to be surrendered to the
Trustee for cancellation. All Notes delivered to the Trustee shall be canceled promptly by it, and no Notes shall be authenticated in exchange thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall
dispose of canceled Notes in accordance with its customary procedures and, after such disposition, shall deliver a certificate of such disposition to the Company, at the Company’s written request in a Company Order.  

  
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 Section 2.09. CUSIP Numbers. The Company in issuing the Notes may use unrestricted
“CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in all notices issued to Holders as a convenience to such Holders; provided that any such notice may state that no representation is
made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee in writing of
any change in the “CUSIP” numbers. 
 Section 2.10. Additional Notes; Repurchases. The Company may, without the
consent of the Holders and notwithstanding Section 2.01, reopen this Indenture and issue additional Notes hereunder with the same terms and with the same CUSIP number as the Notes initially issued hereunder in an unlimited aggregate principal
amount; provided that if any such additional Notes are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes and securities laws purposes, such additional Notes shall have a separate CUSIP number. Prior to the
issuance of any such additional Notes, the Company shall deliver to the Trustee a Company Order, an Officers’ Certificate and an Opinion of Counsel, such Officers’ Certificate and Opinion of Counsel to cover such matters, in addition to
those required by Section 17.05, as the Trustee shall reasonably request. In addition, the Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase
Notes in the open market or otherwise, whether by the Company or its Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives. The
Company shall cause any Notes so repurchased (other than Notes repurchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation in accordance with Section 2.08. 

ARTICLE 3 

SATISFACTION AND DISCHARGE 

Section 3.01. Satisfaction and Discharge. This Indenture shall upon request of the Company contained in an Officers’
Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute such instruments reasonably requested by the Company acknowledging satisfaction and discharge of this Indenture, when (a) (i) all
Notes theretofore authenticated and delivered (other than (x) Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.06 and (y) Notes for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 4.04(d)) have been delivered to the Trustee for cancellation; or (ii) the Company
has deposited with the Trustee or delivered to Holders, as applicable, after the Notes have become due and payable, whether on the Maturity Date, any Fundamental Change Repurchase Date, Specified Repurchase Date, Redemption Date, upon conversion or
otherwise, cash and, solely in the case of outstanding conversions (if applicable), shares of Common Stock sufficient to pay all of the outstanding Notes and all other sums due and payable under  

  
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this Indenture by the Company; and (b) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein
provided for relating to the satisfaction and discharge of this Indenture have been complied with. Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.06 shall survive.

 ARTICLE 4 

PARTICULAR COVENANTS OF THE COMPANY 

Section 4.01. Payment of Principal and Interest. (a) The Company covenants and agrees that it will cause to be paid
the principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner
provided herein and in the Notes. 
 (b) Contingent interest on the Notes (“Contingent Interest”) shall
accrue and the Company shall pay such Contingent Interest to the Holders as follows: 
 (i) beginning with the
semiannual interest payment period commencing immediately following the Interest Payment Date on August 15, 2018, during any semiannual interest period in which the arithmetic average of the Trading Prices for each Trading Day during the period
of 10 consecutive Trading Days beginning on, and including, the 12th Scheduled Trading Day immediately preceding the first day of such semiannual interest period (A) is greater than or equal to the Upside Trigger, in which case the Contingent
Interest payable on each $1,000 principal amount of Notes for such semiannual interest period shall be equal to 0.60% per annum of such arithmetic average of the Trading Prices or (B) is less than or equal to the relevant Downside Trigger
for such semiannual interest period, in which case the Contingent Interest payable on each $1,000 principal amount of Notes for such semiannual interest period shall be equal to 0.25% per annum of such arithmetic average of the Trading Prices;
and 
 (ii) at any time Notes are outstanding, upon the declaration by the Board of Directors of an extraordinary cash
dividend or distribution to all or substantially all holders of the Common Stock that the Board of Directors designates as payable with respect to the Notes (an “Extraordinary Dividend”), in which case such Contingent Interest shall
be payable on the same date as, and in an amount equal to, the dividend or distribution that a Holder would have received if such Holder held a number of shares of Common Stock equal to the applicable Conversion Rate, multiplied by the
principal amount (expressed in thousands) of Notes held by such Holder. 
 The Company shall notify the Trustee and the Holders in writing
prior to the commencement of the applicable interest period during which Contingent Interest is payable, and if such determination cannot be made prior to such interest period, promptly but in no event later than the Regular Record Date applicable
to such 

  
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interest period, upon any determination that Contingent Interest on the Notes will accrue during a semiannual interest period (and the amount of such Contingent Interest) and upon any declaration
by the Board of Directors of an Extraordinary Dividend. 
 (c) The Company shall provide written notice to the Bid Solicitation Agent (if
other than the Company) of the three independent nationally recognized securities dealers selected by the Company in accordance with the definition of Trading Price, along with the appropriate contact information for each. The Bid Solicitation Agent
shall have no obligation to determine the Trading Price of the Notes for purposes of determining whether Contingent Interest is payable on the Notes unless the Company has requested such determination in writing and the Company shall have no
obligation to determine the Trading Price of the Notes for purposes of determining whether Contingent Interest is payable or to request the Bid Solicitation Agent to determine the Trading Price on behalf of the Company unless a Holder provides the
Company with reasonable evidence that the Trading Price is greater than or equal to the Upside Trigger or less than or equal to the Downside Trigger. At such time, the Company shall determine or instruct the Bid Solicitation Agent to determine, as
applicable, the Trading Price of the Notes in the manner described in the definition of “Trading Price” in Section 1.01 beginning on the next Trading Day and on each successive Trading Day until the Trading Price of the Notes is less
than the Upside Trigger and greater than the Downside Trigger. Neither the Trustee nor the Conversion Agent shall have any obligation, in such capacities, to determine the Trading Price of the Notes. 

(d) Contingent Interest for any semiannual interest period shall be paid on the applicable Interest Payment Date to the Holder in whose name
any Note is registered on the Note Register at the corresponding Regular Record Date. Contingent Interest due under this Section 4.01 shall be treated for all purposes of this Indenture like any other interest accruing on the Notes. 

(e) If Contingent Interest is payable by the Company pursuant to this Section 4.01, the Company shall deliver to the Trustee an
Officers’ Certificate to that effect, on or prior to the date set forth in the last paragraph of Section 4.01(b)(ii) above, stating (i) the amount of such Contingent Interest that is payable and (ii) the date on which such
Contingent Interest first became payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Contingent Interest is payable. If the
Company has paid Contingent Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 

Section 4.02. Maintenance of Office or Agency. The Company will maintain in the Borough of Manhattan, The City of New York,
an office or agency where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment or repurchase (“Paying Agent”) or for conversion (“Conversion
Agent”) and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of
such office or agency. If at any time the  

  
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Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made at
the Corporate Trust Office or the office or agency of the Trustee in the Borough of Manhattan, The City of New York. 
 The Company
may also from time to time designate as co-Note Registrars one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations;
provided 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, The City of New York, for such purposes. The Company will
give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The terms “Paying Agent” and “Conversion Agent” include any such
additional or other offices or agencies, as applicable. 
 The Company hereby initially designates the Trustee as the Paying Agent,
Note Registrar, Custodian and Conversion Agent, and the Corporate Trust Office and the office or agency of the Trustee in the Borough of Manhattan, The City of New York, each shall be considered as one such office or agency of the Company for each
of the aforesaid purposes. 
 Section 4.03. Appointments to Fill Vacancies in Trustee’s Office. The Company,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.09, a Trustee, so that there shall at all times be a Trustee hereunder. 

Section 4.04. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent other than the Trustee, the
Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04: 

(i) that it will hold all sums held by it as such agent for the payment of the principal (including the Fundamental Change
Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes in trust for the benefit of the Holders of the Notes; 

(ii) that it will give the Trustee prompt notice of any failure by the Company to make any payment of the principal (including
the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due and payable; and 

(iii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the
Trustee all sums so held in trust. 

  
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 The Company shall, on or before each due date of the principal (including the Fundamental Change
Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, or accrued and unpaid interest on, the Notes, deposit with the Paying Agent a sum sufficient to pay such principal (including the Fundamental Change
Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) or accrued and unpaid interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of any failure to take such action;
provided that if such deposit is made on the due date, such deposit must be received by the Paying Agent by 11:00 a.m., New York City time, on such date. 

(b) If the Company shall act as its own Paying Agent, it will, on or before each due date of the principal (including the Fundamental Change
Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of the Trustee and the Holders of the Notes a sum
sufficient to pay such principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) and accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing
of any failure to take such action and of any failure by the Company to make any payment of the principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, or accrued and
unpaid interest on, the Notes when the same shall become due and payable. Upon any Event of Default specified in Section 6.01(i) or Section 6.01(j), the Trustee shall be the Paying Agent. 

(c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a
satisfaction and discharge of this Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or any Paying Agent hereunder as required by this Section 4.04, such sums or
amounts to be held by the Trustee upon the trusts herein contained and upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability but only with
respect to such sums or amounts. 
 (d) Subject to applicable abandoned property laws, any money deposited with the Trustee or any Paying
Agent, or then held by the Company, in trust for the payment of the principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, and accrued and unpaid interest on, any Note
and remaining unclaimed for two years after such principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) or interest has become due and payable shall be paid to the Company
on request of the Company contained in an Officers’ Certificate, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before
being required to make 

  
 25 







 
any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general
circulation in The Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid or delivered to the Company. 
 Section 4.05. Existence. Subject to Article 11, the Company
shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence. 

Section 4.06. Annual Reports. (a) [Reserved]. 

(b) The Company shall file with the Trustee, within 15 days after the same are required to be filed with the Commission, copies of any
documents or reports that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any such document or report
that the Company files with the Commission via the Commission’s EDGAR system shall be deemed to be filed with the Trustee for purposes of this Section 4.06(b) at the time such documents are filed via the EDGAR system. 

(c) Delivery of the reports and documents described in subsection (b) above to the Trustee is for informational purposes only, and the
Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which
the Trustee is entitled to conclusively rely on an Officers’ Certificate). 
 Section 4.07. Stay, Extension and Usury Laws.
The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law that would
prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this
Indenture; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

Section 4.08. Compliance Certificate; Statements as to Defaults. The Company shall deliver to the Trustee within 120 days after
the end of each fiscal year of the Company (beginning with the fiscal year ending on December 31, 2014) an Officers’ Certificate stating whether or not the signers thereof have knowledge of any failure by the Company to comply with all
conditions and covenants then required to be performed under this Indenture and, if so, specifying each such failure and the nature thereof. 

  
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 In addition, the Company shall deliver to the Trustee, as soon as possible, and in any event
within 30 days after the Company becomes aware of the occurrence of any Event of Default or Default, an Officers’ Certificate setting forth the details of such Event of Default or Default, its status and the action that the Company is taking or
proposing to take in respect thereof. 
 Section 4.09. Further Instruments and Acts. Upon request of the Trustee, the
Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

Section 4.10. Tax Treatment. The Company agrees, and by purchasing a beneficial interest in the Notes each Holder, and any
individual or entity that acquires a direct or indirect interest in the Notes, will be deemed to have agreed: 
 (a) for U.S. federal income
tax purposes, to treat the Notes as indebtedness of the Company that is subject to U.S. Treasury Regulations Section 1.1275-4 (the “Contingent Debt Regulations”); 

(b) for purposes of the Contingent Debt Regulations, to treat the fair market value of any shares of Common Stock and cash received upon any
conversion of the Notes as a contingent payment; 
 (c) to be bound by the Company’s determination that the Notes are “contingent
payment debt instruments” subject to the “noncontingent bond method” within the meanings of the Contingent Debt Regulations; and 

(d) to be bound by the Company’s calculation of the comparable yield and projected payment schedule with respect to the Notes unless such
person discloses to the Internal Revenue Service an alternative comparable yield or projected payment schedule pursuant to U.S. Treasury Regulations Section 1.1275-4(b)(4)(iv). 

Section 4.11. Comparable Yield and Projected Payment Schedule. Solely for purposes of applying the Contingent Debt
Regulations to the Notes: 
 (a) the Company has determined the comparable yield of the Notes to be 7.50%, compounded semi-annually
and has prepared a projected payment schedule using that comparable yield; and 
 (b) the Company acknowledges and agrees, and each Holder
and any beneficial owner of a Note, by its acceptance of a Note, shall be deemed to acknowledge and agree, that (A) the comparable yield and the projected payment schedule are not determined for any purpose other than for the purpose of
applying the Contingent Debt Regulations to the Notes; and (B) the comparable yield and the projected payment schedule do not constitute a projection or representation by the Company regarding the future price of the Common Stock or the actual
amounts payable on the Notes. 

  
 27 







 Holders that wish to obtain the amount of original issue discount, issue price, issue date,
comparable yield and projected payment schedule may do so by submitting a written request to the Company at the following address: Molina Healthcare, Inc., Attention: Vice President of Treasury, 200 Oceangate, Suite 100, Long Beach, California
90802. 
 Section 4.12. Par Value Limitation. The Company shall not take any action that, after giving effect to any
adjustment pursuant to Article 14, would result in the issuance of shares of Common Stock for less than the par value of such shares of Common Stock. 

Section 4.13. Additional Interest. In addition to any Additional Interest the Company elects to pay pursuant to Section 6.03,
the Company will pay Additional Interest on each Interest Payment Date for which the aggregate principal amount of Notes outstanding was less than $100,000,000 as of the close of business on the Regular Record Date corresponding to such Interest
Payment Date, in which case such Additional Interest payable on each $1,000 principal amount of Notes for such Interest Payment Date shall be equal to 0.25% per annum. 

ARTICLE 5 
 LISTS
OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.01. Lists of Holders. The Company covenants and agrees that it will furnish or cause to be furnished to the
Trustee, semi-annually, not more than 15 days after each January 15 and July 15 in each year beginning with January 15, 2015, and at such other times as the Trustee may request in writing, within 30 days after receipt by the Company
of any such request (or such lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee may reasonably require of the names and addresses
of the Holders as of a date not more than 15 days (or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except that no such list need be furnished so long
as the Trustee is acting as Note Registrar. 
 Section 5.02. Preservation and Disclosure of Lists. The Trustee
shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most recent list furnished to it as provided in Section 5.01 or maintained by the Trustee in its
capacity as Note Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished. 

  
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 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. The following events shall be “Events of Default” with respect to the
Notes: 
 (a) default in any payment of interest on any Note when due and payable, and the default continues for a period of 30 days; 

(b) default in the payment of principal of any Note when due and payable on the Maturity Date, upon any required repurchase or redemption,
upon declaration of acceleration or otherwise; 
 (c) failure by the Company to comply with its obligation to convert the Notes in
accordance with this Indenture upon exercise of a Holder’s conversion right and such failure continues for three Business Days; 
 (d)
failure by the Company to issue a Fundamental Change Company Notice in accordance with Section 15.02(c), a Specified Repurchase Date Notice in accordance with Section 15.01 or a notice of a specified corporate transaction in accordance
with Section 14.01(b)(ii) or 14.01(b)(iii), in each case, when due; 
 (e) failure by the Company to comply with its obligations under
Article 11; 
 (f) failure by the Company for 60 days after written notice from the Trustee or the Holders of at least 25% in principal
amount of the Notes then outstanding has been received by the Company to comply with any of its other agreements contained in the Notes or this Indenture that are not otherwise provided for in subsections (a) through (e) of this
Section 6.01; 
 (g) default by the Company or any Subsidiary of the Company with respect to any mortgage, agreement or other
instrument under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $15,000,000 in the aggregate of the Company and/or any such Subsidiary, whether such indebtedness now
exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable or (ii) constituting a failure to pay the principal or interest of any such debt when due and payable at its stated
maturity, upon required repurchase, upon declaration of acceleration or otherwise; 
 (h) a final judgment for the payment of $15,000,000 or
more (excluding any amounts covered by insurance) rendered against the Company or any Subsidiary of the Company, which judgment is not satisfied, stayed, annulled, rescinded or discharged within 60 days after (i) the date on which the right to
appeal thereof has expired if no such appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished; 

(i) the Company or any Significant Subsidiary shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other
relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other
similar official of the Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an


  
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involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or 

(j) an involuntary case or other proceeding shall be commenced against the Company or any Significant Subsidiary seeking liquidation,
reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator,
custodian or other similar official of the Company or such Significant Subsidiary or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 30 consecutive days. 

Section 6.02. Acceleration; Rescission and Annulment. If one or more Events of Default shall have occurred and be
continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Significant Subsidiaries), unless the
principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with Section 8.04, by notice in
writing to the Company (and to the Trustee if given by Holders), may declare 100% of the principal of, and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall
automatically be immediately due and payable, anything in this Indenture or in the Notes contained to the contrary notwithstanding. If an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company occurs
and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable. 

The immediately preceding paragraph, however, is subject to the conditions that if, at any time after the principal of the Notes shall have
been so declared due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay
installments of accrued and unpaid interest upon all Notes and the principal of any and all Notes that shall have become due otherwise than by acceleration (with interest on overdue installments of accrued and unpaid interest to the extent that
payment of such interest is enforceable under applicable law, and on such principal at the rate borne by the Notes at such time) and amounts due to the Trustee pursuant to Section 7.06, and if (1) rescission would not conflict with any
judgment or decree of a court of competent jurisdiction and (2) any and all existing Events of Default under this Indenture, other than the nonpayment of the principal of and accrued and unpaid interest, if any, on Notes that shall have become
due solely by such acceleration, shall have been cured or waived pursuant to Section 6.09, then and in every such case (except as provided in the immediately succeeding sentence) the Holders of a majority in


  
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aggregate principal amount of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all Defaults or Events of Default with respect to the Notes and rescind
and annul such declaration and its consequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver or rescission and annulment
shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent thereon. Notwithstanding anything to the contrary herein, no such waiver or rescission and annulment shall extend to or shall affect any
Default or Event of Default resulting from (i) the nonpayment of the principal of, or accrued and unpaid interest on, any Notes, (ii) a failure to repurchase any Notes when required or (iii) a failure to pay the cash or, if
applicable, deliver the shares of Common Stock due upon conversion of the Notes. 
 Section 6.03. Additional Interest.
Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in
Section 4.06(b) shall (i) for the first 60 days after the occurrence of such an Event of Default (beginning on, and including, the date on which such an Event of Default first occurs), consist exclusively of the right to receive Additional
Interest on the Notes equal to 0.25% per annum of the principal amount of the Notes outstanding for each day during such 60-day period on which such Event of Default is continuing and (ii) for the period from, and including, the 61st day
after the occurrence of such an Event of Default to, and including, the 120th day after the occurrence of such an Event of Default, consist exclusively of the right to receive Additional Interest on the notes equal to 0.50% per annum of the
principal amount of Notes outstanding for each day during such additional 60-day period on which such Event of Default is continuing; provided that, in no event shall Additional Interest (excluding, for the avoidance of doubt, any Additional
Interest that may accrue pursuant to Section 4.13 and any Contingent Interest that may accrue pursuant to Section 4.01) accrue at a rate per annum in excess of 0.25%, during the period described in clause (i) of this
Section 6.03, or 0.50%, during the period described in clause (ii) of this Section 6.03, as applicable, regardless of the number of events or circumstances giving rise to the requirements to pay such Additional Interest (in each case,
excluding, for the avoidance of doubt, any Additional Interest that may accrue pursuant to Section 4.13 and any Contingent Interest that may accrue pursuant to Section 4.01). If the Company so elects, such Additional Interest shall be
payable in the same manner and on the same dates as regular interest on the Notes. On the 121st day after such Event of Default (if the Event of Default relating to the Company’s failure to file is not cured or waived prior to such 121st day),
the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make
such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. 

In order to elect to pay Additional Interest as the sole remedy during the first 120 days after the occurrence of any Event of Default
described in the immediately preceding paragraph, the Company must notify all Holders of the Notes, the Trustee and the Paying 

  
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Agent in writing of such election prior to the beginning of such 120-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in
Section 6.02. 
 Additional Interest pursuant to this Section 6.03 will be payable in arrears on each Interest Payment Date
following accrual in the same manner as regular interest on the Notes. 
 Section 6.04. Payments of Notes on Default; Suit
Therefor. If an Event of Default described in clause (a) or (b) of Section 6.01 shall have occurred, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount
then due and payable on the Notes for principal and interest, if any, with interest on any overdue principal and interest, if any, at the rate borne by the Notes plus one percent at such time, and, in addition thereto, such further amount as shall
be sufficient to cover any amounts due to the Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial
proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and collect the moneys adjudged or decreed to be
payable in the manner provided by law out of the property of the Company or any other obligor upon the Notes, wherever situated. 

In the event there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes
under title 11 of the United States Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the
Company or such other obligor, the property of the Company or such other obligor, or in the event of any other judicial proceedings relative to the Company or such other obligor upon the Notes, or to the creditors or property of the Company or such
other obligor, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the
provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued and unpaid interest, if any, in respect of the
Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors, or its
or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under Section 7.06; and any receiver,
assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders to 

  
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make such payments to the Trustee, as administrative expenses, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any
amount due it for reasonable compensation, expenses, advances and disbursements, including agents and counsel fees, and including any other amounts due to the Trustee under Section 7.06, incurred by it up to the date of such distribution. To
the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any
and all distributions, dividends, monies, securities and other property that the Holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the
possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery
of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes. 

In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the
Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such proceedings. 

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or
abandoned because of any waiver pursuant to Section 6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the
Holders, and the Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders, and the Trustee shall
continue as though no such proceeding had been instituted. 

  
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 Section 6.05. Application of Monies Collected by Trustee. Any monies or
property collected by the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies or property, upon presentation of the
several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid: 
 First,
to the payment of all amounts due the Trustee under Section 7.06; 
 Second, in case the principal of the outstanding Notes shall not
have become due and be unpaid, to the payment of interest on, and any cash due upon conversion of, the Notes in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case may be, with interest (to
the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto; 

Third, in case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment
of the whole amount (including, if applicable, the payment of the Fundamental Change Repurchase Price, the Specified Date Repurchase Price, the Redemption Price and any cash due upon conversion) then owing and unpaid upon the Notes for principal and
interest, if any, with interest on the overdue principal and, to the extent that such interest has been collected by the Trustee, upon overdue installments of interest at the rate borne by the Notes at such time plus one percent, and in case such
monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal (including, if applicable, the Fundamental Change Repurchase Price, the Specified Date Repurchase Price, the
Redemption Price and the cash due upon conversion) and interest without preference or priority of principal over interest, or of interest over principal or of any installment of interest over any other installment of interest, or of any Note over
any other Note, ratably to the aggregate of such principal (including, if applicable, the Fundamental Change Repurchase Price, the Specified Date Repurchase Price, the Redemption Price and any cash due upon conversion) and accrued and unpaid
interest; and 
 Fourth, to the payment of the remainder, if any, to the Company. 

Section 6.06. Proceedings by Holders. Except to enforce the right to receive payment of principal (including, if
applicable, the Fundamental Change Repurchase Price, the Specified Date Repurchase Price or the Redemption Price) or interest when due, or the right to receive payment of the cash and, if applicable, delivery of the shares of Common Stock due upon
conversion, no Holder of any Note shall have any right by virtue of or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the
appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, unless:  

(a) such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as herein
provided; 
 (b) Holders of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon
the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; 

  
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 (c) such Holders shall have offered to the Trustee such security or indemnity satisfactory to the
Trustee against any loss, liability or expense to be incurred therein or thereby; 
 (d) the Trustee, for 60 days after its receipt of such
notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and 
 (e) no
direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the Trustee by the Holders of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period
pursuant to Section 6.09, 
 it being understood and intended, and being expressly covenanted by the taker and Holder of every Note with every other
taker and Holder and the Trustee that no one or more Holders shall have any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder, or to obtain or
seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided
herein). For the protection and enforcement of this Section 6.06, each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

Notwithstanding any other provision of this Indenture and any provision of any Note, the right of any Holder to receive payment or delivery,
as applicable, of (x) the principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the cash and, if
applicable, shares of Common Stock due upon conversion of, such Note, on or after the respective due dates expressed or provided for in such Note or in this Indenture, or to institute suit for the enforcement of any such payment on or after such
respective dates against the Company shall not be impaired or affected without the consent of such Holder. 
 Section 6.07.
Proceedings by Trustee. In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and
enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any
power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

Section 6.08. Remedies Cumulative and Continuing. Except as provided in the last paragraph of Section 2.06, all powers
and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders of the
Notes, by judicial proceedings or otherwise, to enforce the  

  
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performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power
accruing upon any Default or Event of Default shall impair any such right or power, or shall be construed to be a waiver of any such Default or Event of Default or any acquiescence therein; and, subject to the provisions of Section 6.06, every
power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders. 

Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders. The Holders of a majority of the
aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or
exercising any trust or power conferred on the Trustee with respect to Notes; provided, however, that (i) such direction shall not be in conflict with any rule of law or with this Indenture, and (ii) the Trustee may take any
other action deemed proper by the Trustee that is not inconsistent with such direction. The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in
personal liability. The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 may on behalf of the Holders of all of the Notes waive any past Default or Event of
Default hereunder and its consequences except (i) a default in the payment of accrued and unpaid interest, if any, on, or the principal (including any Fundamental Change Repurchase Price, Specified Date Repurchase Price or Redemption Price) of,
the Notes when due that has not been cured pursuant to the provisions of Section 6.01, (ii) a failure by the Company to pay the cash and, if applicable, deliver the shares of Common Stock due upon conversion of the Notes or (iii) a
default in respect of a covenant or provision hereof which under Article 10 cannot be modified or amended without the consent of each Holder of an outstanding Note affected. Upon any such waiver the Company, the Trustee and the Holders of the Notes
shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall
have been waived as permitted by this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent
or other Default or Event of Default or impair any right consequent thereon. 
 Section 6.10. Notice of Defaults.
The Trustee shall, within 90 days after the occurrence and continuance of a Default of which a Responsible Officer has actual knowledge, send to all Holders as the names and addresses of such Holders appear upon the Note Register, or in the case of
Global Notes, in accordance with the Applicable Procedures, notice of all Defaults known to a Responsible Officer, unless such Defaults shall have been cured or waived before the giving of such notice; provided that, except in the case of a
Default in the payment of the principal of (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if  

  
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applicable), or accrued and unpaid interest on, any of the Notes or a Default in the payment of the cash or the delivery of the shares of Common Stock, if any, due upon conversion, the Trustee
shall be protected in withholding such notice if and so long as a committee of Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. 

Section 6.11. Undertaking to Pay Costs. All parties to this Indenture agree, and each Holder of any Note by its acceptance
thereof shall be deemed to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee,
the filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, 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 6.11 (to the extent permitted by law) shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by any
Holder for the enforcement of the payment of the principal of or accrued and unpaid interest, if any, on any Note (including, but not limited to, the Fundamental Change Repurchase Price, Specified Date Repurchase Price or Redemption Price with
respect to the Notes being repurchased or redeemed as provided in this Indenture) on or after the due date expressed or provided for in such Note or to any suit for the enforcement of the right to convert any Note in accordance with the provisions
of Article 14. 
 ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.01. Duties and Responsibilities of Trustee. The Trustee, prior to the occurrence of an Event of Default and after
the curing or waiver of all Events of Default that may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default has occurred that has not been cured or waived
the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such
person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders
unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

  
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 No provision of this Indenture shall be construed to relieve the Trustee from liability for its
own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct, except that: 
 (a) prior to the
occurrence of an Event of Default and after the curing or waiving of all Events of Default that may have occurred: 
 (i) the
duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this
Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the
absence of bad faith and willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein); 

(b) the Trustee shall not be liable for any error of judgment or for any action it takes or omits to take made in good faith by a Responsible
Officer or Officers of the Trustee, unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts; 

(c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the Holders of not less than a majority of the aggregate principal amount of the Notes at the time outstanding determined as provided in Section 8.04 relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture; 
 (d) whether or not
therein provided, every provision of this Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section; 

(e) the Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters
relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Note Registrar with respect to the Notes; 

(f) if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to
the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless such Responsible Officer of the Trustee had actual knowledge of such event; 

  
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 (g) in the absence of written investment direction from the Company, all cash received by the
Trustee shall be placed in a non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a result of the liquidation of any such
investment prior to its maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment direction, and the Trustee shall have
no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment direction from the Company; and 

(h) in the event that the Trustee is also acting as Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent or
transfer agent hereunder, the rights and protections afforded to the Trustee pursuant to this Article 7 shall also be afforded to such Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent or transfer agent. 

None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers. 
 Section 7.02.
Reliance on Documents, Opinions, Etc. Except as otherwise provided in Section 7.01: 
 (a) the Trustee may conclusively rely, and
shall be fully protected in acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, Note, coupon or other paper or document believed by it in good faith to be genuine and to have been
signed or presented by the proper party or parties; 
 (b) any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified by the Secretary or an
Assistant Secretary of the Company; 
 (c) the Trustee may consult with counsel and require an Opinion of Counsel and any advice of such
counsel or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 

(d) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document; 
 (e) the Trustee may
execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, custodians, nominees or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any
agent, custodian, nominee or attorney appointed by it with due care hereunder; 

  
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 (f) the permissive rights of the Trustee enumerated herein shall not be construed as duties; and

 (g) the Trustee shall be under no obligation to exercise any of its rights or powers under this Indenture at the request or direction of
any of the holders of the Notes unless the holders have offered to the Trustee indemnity or security satisfactory to the Trustee against any loss, liability or expense. 

In no event shall the Trustee be liable for any consequential loss or damage of any kind whatsoever (including but not limited to lost
profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action other than any such loss or damage caused by the Trustee’s willful misconduct or gross negligence. The Trustee shall
not be charged with knowledge of any Default or Event of Default with respect to the Notes, unless either (1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2) written notice referring to this
Indenture of such Default or Event of Default shall have been given to the Trustee by the Company or by any Holder of the Notes. 

Section 7.03. No Responsibility for Recitals, Etc. The recitals contained herein and in the Notes (except in the
Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture.

 Section 7.04. Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes.
The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying
Agent, Conversion Agent, Bid Solicitation Agent or Note Registrar. 
 Section 7.05. Monies to Be Held in Trust.
All monies received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the
extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed in writing from time to time by the Company and the Trustee. 

Section 7.06. Compensation and Indemnification of Trustee. The Company covenants and agrees to pay to the Trustee from time
to time, and the Trustee shall be entitled to, compensation for all services rendered by it hereunder in any capacity (which  

  
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shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing between the Trustee and the Company, and the Company
will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture in any capacity thereunder (including
the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as shall have been caused by its gross negligence or willful
misconduct. The Company also covenants to indemnify the Trustee, its officers, directors, agents and employees, in any capacity under this Indenture and any other document or transaction entered into in connection herewith and its agents and any
authenticating agent for, and to hold them harmless against, any loss, claim, damage, liability or expense incurred without gross negligence or willful misconduct on the part of the Trustee, its officers, directors, agents or employees, or such
agent or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration of this Indenture or in any other capacity hereunder, including the costs and expenses of defending themselves against any
claim of liability in the premises. The obligations of the Company under this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a senior claim to
which the Notes are hereby made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of particular Notes. The
Trustee’s right to receive payment of any amounts due under this Section 7.06 shall not be subordinate to any other liability or indebtedness of the Company. The obligation of the Company under this Section 7.06 shall survive the
satisfaction and discharge of this Indenture and the earlier resignation or removal or the Trustee. The indemnification provided in this Section 7.06 shall extend to the officers, directors, agents and employees of the Trustee. 

Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any authenticating
agent incur expenses or render services after an Event of Default specified in Section 6.01(i) or Section 6.01(j) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any
bankruptcy, insolvency or similar laws. 
 Section 7.07. Officers’ Certificate as Evidence. Except as otherwise
provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter
(unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’
Certificate delivered to the Trustee, and such Officers’ Certificate, in the absence of gross negligence or willful misconduct on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the
provisions of this Indenture upon the faith thereof. 

  
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 Section 7.08. Eligibility of Trustee. There shall at all times be a Trustee
hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. If such Person publishes reports of condition at least annually, pursuant to law or
to the requirements of any supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person 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 Trustee 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. 

Section 7.09. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of
such resignation to the Company and by mailing notice thereof to the Holders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have
accepted appointment within 60 days after the mailing of such notice of resignation to the Holders, the resigning Trustee may, upon ten Business Days’ notice to the Company and the Holders, petition any court of competent jurisdiction for the
appointment of a successor trustee, or any Holder who has been a bona fide holder of a Note or Notes for at least six months may, subject to the provisions of Section 6.11, on behalf of himself or herself and all others similarly situated,
petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(i) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.08 and shall fail to resign
after written request therefor by the Company or by any such Holder, or 
 (ii) the Trustee shall become incapable of acting,
or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, 
 then, in either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.11, any Holder
who has been a bona fide holder of a Note or Notes for at least six months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a
successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

  
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 (c) The Holders of a majority in aggregate principal amount of the Notes at the time outstanding,
as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the Company of such nomination the
Company objects thereto, in which case the Trustee so removed or any Holder, upon the terms and conditions and otherwise as in Section 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.

 (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this
Section 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.10. 

Section 7.10. Acceptance by Successor Trustee. Any successor trustee appointed as provided in Section 7.09 shall
execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Trustee herein; but, nevertheless, on the written request
of the Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the
rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such
rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior claim to which the Notes are hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held in trust for the
benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 7.06. 
 No successor
trustee shall accept appointment as provided in this Section 7.10 unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 7.08. 

Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each of the Company and the successor trustee, at
the written direction and at the expense of the Company shall mail or cause to be mailed notice of the succession of such trustee hereunder to the Holders at their addresses as they shall appear on the Note Register. If the Company fails to mail
such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Company. 

Section 7.11. Succession by Merger, Etc. Any corporation or other entity into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other entity succeeding to all or substantially all of the
corporate trust business of the Trustee (including the  

  
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administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto;
provided that in the case of any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee such corporation or other entity shall be eligible under the provisions of Section 7.08.

 In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture, any of the Notes
shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor trustee, and deliver such Notes so
authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or an authenticating agent appointed by such successor trustee may authenticate such Notes either in the name of any predecessor
trustee hereunder or in the name of the successor trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have;
provided, however, that the right to adopt the certificate of authentication of any predecessor trustee or to authenticate Notes in the name of any predecessor trustee shall apply only to its successor or successors by merger,
conversion or consolidation. 
 Section 7.12. Trustee’s Application for Instructions from the Company. Any
application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the Holders of the Notes under this Indenture) may, at
the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not
be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any
officer that the Company has indicated to the Trustee should receive such application actually receives such application, unless any such officer shall have consented in writing to any earlier date), unless, prior to taking any such action (or the
effective date in the case of any omission), the Trustee shall have received written instructions in accordance with this Indenture in response to such application specifying the action to be taken or omitted. 

ARTICLE 8 

CONCERNING THE HOLDERS 

Section 8.01. Action by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage of
the aggregate principal amount of the Notes may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the
Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of
the  

  
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Holders voting in favor thereof at any meeting of Holders duly called and held in accordance with the provisions of Article 9, or (c) by a combination of such instrument or instruments and
any such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the Holders of the Notes, the Company or the Trustee may fix, but shall not be required to, in advance of such solicitation, a
date as the record date for determining Holders entitled to take such action. The record date if one is selected shall be not more than fifteen days prior to the date of commencement of solicitation of such action. 

Section 8.02. Proof of Execution by Holders. Subject to the provisions of Section 7.01, Section 7.02 and
Section 9.05, proof of the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee. The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. The record of any Holders’ meeting shall be proved in the manner provided in Section 9.06. 

Section 8.03. Who Are Deemed Absolute Owners. The Company, the Trustee, any authenticating agent, any Paying Agent, any
Conversion Agent and any Note Registrar may deem the Person in whose name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding
any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the principal of and (subject to Section 2.03) accrued and unpaid
interest on such Note, for conversion of such Note and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any notice to the contrary. All such
payments so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums so paid, effectual to satisfy and discharge the liability for monies payable upon any such Note. Notwithstanding anything to the
contrary in this Indenture or the Notes following an Event of Default, any Holder of a beneficial interest in a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the
Depositary or any other Person, such Holder’s right to exchange such beneficial interest for a Note in certificated form in accordance with the provisions of this Indenture. 

Section 8.04. Company-Owned Notes Disregarded. In determining whether the Holders of the requisite aggregate principal
amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned by the Company, by any Subsidiary thereof or by any Person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Company or any Subsidiary thereof shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction, consent, waiver or other action only Notes that a Responsible Officer knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may  

  
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be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to so act with respect to such
Notes and that the pledgee is not the Company, a Subsidiary thereof or a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or a Subsidiary thereof. In the case of a dispute as to
such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Prior to or together with the Company’s delivery to the Trustee of any direction, consent or waiver contemplated by this
Section 8.04, the Company shall furnish to the Trustee an Officers’ Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons; and, subject
to Section 7.01, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such
determination. 
 Section 8.05. Revocation of Consents; Future Holders Bound. At any time prior to (but not after) the
evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Notes specified in this Indenture in connection with such action, any Holder of a Note
that is shown by the evidence to be included in the Notes the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and of any Notes issued in
exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon registration of transfer
thereof. 
 ARTICLE 9 

HOLDERS’ MEETINGS 

Section 9.01. Purpose of Meetings. A meeting of Holders may be called at any time and from time to time pursuant to the provisions
of this Article 9 for any of the following purposes: 
 (a) to give any notice to the Company or to the Trustee or to give any directions to
the Trustee permitted under this Indenture, or to consent to the waiving of any Default or Event of Default hereunder and its consequences, or to take any other action authorized to be taken by Holders pursuant to any of the provisions of Article 6;

 (b) to remove the Trustee and nominate a successor trustee pursuant to the provisions of Article 7; 

(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 10.02; or 

  
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 (d) to take any other action authorized to be taken by or on behalf of the Holders of any
specified aggregate principal amount of the Notes under any other provision of this Indenture or under applicable law. 
 Section 9.02.
Call of Meetings by Trustee. The Trustee may at any time call a meeting of Holders to take any action specified in Section 9.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the
Holders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 8.01, shall be mailed to Holders of such Notes at
their addresses as they shall appear on the Note Register, or, in the case of Global Notes, sent in accordance with the Applicable Procedures. Such notice shall also be sent to the Company. Such notices shall be sent not less than twenty nor more
than ninety days prior to the date fixed for the meeting. 
 Any meeting of Holders shall be valid without notice if the Holders of all
Notes then outstanding are present in person or by proxy or if notice is waived before or after the meeting by the Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or
have, before or after the meeting, waived notice. 
 Section 9.03. Call of Meetings by Company or Holders. In case at any time
the Company, pursuant to a Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have requested the Trustee to call a meeting of Holders, by written request to a Responsible Officer
of the Trustee, setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have sent the notice of such meeting within 20 days after delivery of such request, then the Company or such Holders may
determine the time and the place for such meeting and may call such meeting to take any action authorized in Section 9.01, by mailing notice thereof as provided in Section 9.02. 

Section 9.04. Qualifications for Voting. To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of
one or more Notes on the record date pertaining to such meeting or (b) be a Person appointed by an instrument in writing as proxy by a Holder of one or more Notes on the record date pertaining to such meeting. The only Persons who shall be
entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

Section 9.05. Regulations. Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable
regulations as it may deem advisable for any meeting of Holders, in regard to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. 

  
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 The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting,
unless the meeting shall have been called by the Company or by Holders as provided in Section 9.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Holders of a majority in principal amount of the Notes represented at the meeting and entitled to vote at the meeting. 

Subject to the provisions of Section 8.04, at any meeting of Holders each Holder or proxyholder shall be entitled to one vote for each
$1,000 principal amount of Notes held or represented by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman of the meeting to be not
outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it as the proxy to vote on behalf of other Holders. Any meeting of Holders duly
called pursuant to the provisions of Section 9.02 or Section 9.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount of Notes represented at the meeting, whether or not constituting a quorum,
and the meeting may be held as so adjourned without further notice. 
 Section 9.06. Voting. The vote upon any resolution
submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the outstanding principal amount of the Notes held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in
duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of
votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 9.02. The record
shall show the principal amount of the Notes voting in favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered
to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 

Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

Section 9.07. No Delay of Rights by Meeting. Nothing contained in this Article 9 shall be deemed or construed to authorize or
permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the
Holders under any of the provisions of this Indenture or of the Notes. 

  
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 ARTICLE 10 

SUPPLEMENTAL INDENTURES 

Section 10.01. Supplemental Indentures Without Consent of Holders. The Company, when authorized by the resolutions of the
Board of Directors and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for one or more of the following purposes: 

(a) to cure any ambiguity, omission, defect or inconsistency that does not adversely affect Holders of the Notes; 

(b) to provide for the assumption by a Successor Company of the obligations of the Company under this Indenture pursuant to Article 11; 

(c) to add guarantees with respect to the Notes; 

(d) to secure the Notes; 
 (e)
to add to the covenants or Events of Defaults of the Company for the benefit of the Holders or surrender any right or power conferred upon the Company; 

(f) to evidence the appointment of a successor trustee; 

(g) to comply with the Applicable Procedures; 

(h) to make any change that does not adversely affect the rights of any Holder; or 

(i) to conform the provisions of this Indenture or the Notes to the “Description of 2044 Notes” section of the private placement
circular dated September 5, 2014 relating to the Notes. 
 Upon the written request of the Company, the Trustee is hereby authorized to
join with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to, but may in its discretion, enter into
any supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any
supplemental indenture authorized by the provisions of this Section 10.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of
Section 10.02. 
 Section 10.02. Supplemental Indentures with Consent of Holders. With the consent (evidenced as
provided in Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with  

  
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Article 8 and including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the Company, when authorized by the resolutions of
the Board of Directors, and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or any supplemental indenture or of modifying in any manner the rights of the Holders; provided, however, that, without the consent of each Holder of an outstanding Note affected, no
such supplemental indenture shall: 
 (a) reduce the amount of Notes whose Holders must consent to an amendment; 

(b) reduce the rate of or extend the stated time for payment of interest on any Note; 

(c) reduce the principal of or extend the Maturity Date of any Note; 

(d) make any change that adversely affects the conversion rights of any Notes; 

(e) reduce the Fundamental Change Repurchase Price, the Specified Date Repurchase Price or the Redemption Price of any Note or amend or modify
in any manner adverse to the Holders the Company’s obligation to make such payments, whether through an amendment or waiver of provisions in the covenants, definitions or otherwise; 

(f) make any Note payable in a currency other than that stated in the Note; 

(g) change the ranking of the Notes; 

(h) impair the right of any Holder to receive payment of principal and interest on such Holder’s Notes on or after the due dates therefor
or to institute suit for the enforcement of any payment on or with respect to such Holder’s Note; 
 (i) modify the provisions with
respect to the Company’s obligation to pay Contingent Interest pursuant to Section 4.01 in a manner adverse to Holders; 
 (j)
modify the provisions with respect to the Company’s redemption rights pursuant to Article 16 in a manner adverse to Holders; or 
 (k)
make any change in this Article 10 that requires each Holder’s consent or in the waiver provisions in Section 6.02 or Section 6.09. 

Upon the written request of the Company, and upon the filing with the Trustee of evidence of the consent of Holders as aforesaid and subject
to Section 10.05, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which
case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 

  
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 Holders do not need under this Section 10.02 to approve the particular form of any proposed
supplemental indenture. It shall be sufficient if such Holders approve the substance thereof. After any such supplemental indenture becomes effective, the Company shall mail to the Holders a notice briefly describing such supplemental indenture.
However, the failure to give such notice to all the Holders, or any defect in the notice, will not impair or affect the validity of the supplemental indenture. 

Section 10.03. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the
provisions of this Article 10, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the
Company and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be
part of the terms and conditions of this Indenture for any and all purposes. 
 Section 10.04. Notation on Notes.
Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article 10 may, at the Company’s expense, bear a notation in form approved by the Trustee as to any matter provided for in
such supplemental indenture. If the Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any modification of this Indenture contained in any such supplemental
indenture may, at the Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to Section 17.10) and delivered in exchange for the Notes
then outstanding, upon surrender of such Notes then outstanding. 
 Section 10.05. Evidence of Compliance of
Supplemental Indenture to Be Furnished Trustee. In addition to the documents required by Section 17.05, the Trustee shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant hereto complies with the requirements of this Article 10 and is permitted or authorized by this Indenture. 

ARTICLE 11 

CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE 

Section 11.01. Company May Consolidate, Etc. on Certain Terms. Subject to the provisions of Section 11.02, the Company
shall not consolidate with, merge with or into, or sell, convey, transfer or lease all or substantially all of its properties and assets to another Person, unless: 

(a) the resulting, surviving or transferee Person (the “Successor Company”), if not the Company, shall be a
corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Successor Company (if not the Company) shall expressly assume, by supplemental indenture all of the
obligations of the Company under the Notes and this Indenture; 

  
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 (b) if, upon the occurrence of any such transaction, (x) the Notes would become convertible
pursuant to the terms of this Indenture into securities issued by an issuer other than such Successor Company, and (y) such Successor Company is a wholly owned subsidiary of the issuer of such securities into which the Notes have become
convertible, such other issuer shall fully and unconditionally guarantee on a senior basis the resulting, surviving, or transferee person’s obligations under the notes; and 

(c) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing under this
Indenture. 
 For purposes of this Section 11.01, the sale, conveyance, transfer or lease of all or substantially all of the properties
and assets of one or more Subsidiaries of the Company to another Person, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a
consolidated basis, shall be deemed to be the sale, conveyance, transfer or lease of all or substantially all of the properties and assets of the Company to another Person. 

Section 11.02. Successor Corporation to Be Substituted. In case of any such consolidation, merger, sale, conveyance,
transfer or lease and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and accrued and unpaid
interest on all of the Notes, the due and punctual delivery or payment, as the case may be, of any consideration due upon conversion of the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be
performed by the Company, such Successor Company (if not the Company) shall succeed to and, except in the case of a lease of all or substantially all of the Company’s properties and assets, shall be substituted for the Company, with the same
effect as if it had been named herein as the party of the first part. Such Successor Company 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 Notes issuable hereunder which
theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the
Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers of the Company to the Trustee for authentication, and any Notes that such
Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter
issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer (but not in the case of a lease),
upon compliance with this Article 11 the Person named as the “Company” in the first paragraph of this Indenture (or any successor that shall thereafter have become such in the manner prescribed in this Article  

  
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11) may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and
from its obligations under this Indenture and the Notes. 
 In case of any such consolidation, merger, sale, conveyance, transfer or lease,
such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 

Section 11.03. Opinion of Counsel to Be Given to Trustee. No consolidation, merger, sale, conveyance, transfer or lease shall be
effective unless the Trustee shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or lease and any such assumption and, if a supplemental
indenture is required in connection with such transaction, such supplemental indenture, complies with the provisions of this Article 11 and is the valid, binding and enforceable obligation of the successor entity in such transaction. 

ARTICLE 12 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS 
 Section 12.01. Indenture and Notes Solely Corporate Obligations. No recourse for the payment
of the principal of or accrued and unpaid interest on any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any
supplemental indenture or in any Note, nor because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, Officer or director or Subsidiary, as such, past, present or future, of
the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it
being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes. 

ARTICLE 13 

[INTENTIONALLY OMITTED] 

ARTICLE 14 

CONVERSION OF NOTES 

Section 14.01. Conversion Privilege. (a) Subject to and upon compliance with the provisions of this Article 14, each Holder
of a Note shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple in excess thereof) of such Note (i) subject to satisfaction of the
conditions described in Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding February 15, 2044 under the circumstances and during the periods set forth in Section 14.01(b), and
(ii) irrespective of the conditions 

  
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described in Section 14.01(b), (x) during the period from, and including, May 15, 2018 to the close of business on the Business Day immediately preceding August 19, 2018 and
(y) during the period from, and including, February 15, 2044 to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 17.2157 shares of Common
Stock (subject to adjustment as provided in this Article 14, the “Conversion Rate”) per $1,000 principal amount of Notes (subject to the settlement provisions of Section 14.02, the “Conversion Obligation”).

 (b) (i) Prior to the close of business on the Business Day immediately preceding February 15, 2044, a Holder may surrender
all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal
amount of Notes, as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock
and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. Simultaneously with requesting
that the Bid Solicitation Agent determine the Trading Price, the Company shall provide written notice to the Bid Solicitation Agent of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition
of Trading Price, along with appropriate contact information for each, and the Company shall direct such securities dealers to provide Trading Prices to the Bid Solicitation Agent. The Bid Solicitation Agent shall have no obligation to determine the
Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading
Price per $1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate, at which time the Company shall instruct the Bid Solicitation Agent to determine the
Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per Note is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common
Stock and the Conversion Rate. If the Company does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the Company instructs the Bid
Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make such determination, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported
Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the
Trustee). If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and
the applicable Conversion Rate, the Company shall so notify in writing the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee). 

  
 54 







 (ii) If the Company elects to: 

(A) issue to all or substantially all holders of its Common Stock any rights, options or warrants entitling them, for a period
of not more than 45 calendar days after the date of such issuance, to subscribe for or purchase shares of its Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 

(B) distribute to all or substantially all holders of its Common Stock the Company’s assets, debt securities or rights to
purchase securities of the Company, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of announcement
for such distribution, 
 then, in either case, the Company shall notify in writing all Holders of the Notes, the Trustee and the Conversion Agent (if other
than the Trustee) at least 35 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has given such notice, the Notes may be surrendered for conversion at any time until the earlier of (1) the
close of business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Company’s announcement that such issuance or distribution will not take place, even if the Notes are not
otherwise convertible at such time. 
 (iii) If a transaction or event that constitutes a Fundamental Change or a Make-Whole
Fundamental Change occurs prior to the close of business on the Business Day immediately preceding February 15, 2044, regardless of whether a Holder has the right to require the Company to repurchase the Notes pursuant to Section 15.02, or
if the Company is a party to a consolidation, merger, binding share exchange, or transfer or lease of all or substantially all of its assets, pursuant to which the Common Stock would be converted into cash, securities or other assets, the Notes may
be surrendered for conversion at any time from or after the date that is 35 Scheduled Trading Days prior to the anticipated effective date of the transaction (or, if later, the Business Day after the Company gives notice of such transaction) until
35 Trading Days after the actual effective date of such transaction or, if such transaction also constitutes a Fundamental Change, until the related Fundamental Change Repurchase Date. The Company shall use commercially reasonable efforts to notify
in writing all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) at least 35 Scheduled Trading Days prior to the anticipated effective date of the transaction or , if the Company does not have knowledge of such
transaction at least 35 Scheduled 

  
 55 







 
Trading Days prior to the anticipated effective date of such transaction, within one Business Day of the date upon which the Company receives written notice, or otherwise becomes aware, of such
transaction, but in no event later than the fifth business day following the actual effective date of such transaction); provided that, notwithstanding the foregoing, the Company shall not be required to provide such notice before the earlier of
(i) such fifth business day and (ii) the earlier of such time as the Company or its Affiliates (x) have publicly disclosed or acknowledged the circumstances giving rise to such transaction and (y) are required to publicly
disclose under applicable law or rules of any securities exchange on which the Common Stock is then listed or admitted for trading the circumstances giving rise to such transaction. 

(iv) Prior to the close of business on the Business Day immediately preceding February 15, 2044, Holders may surrender the
Notes for conversion during any calendar quarter commencing after the calendar quarter ending on September 30, 2014 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days
(whether or not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day. The
Company shall determine at the beginning of each calendar quarter commencing after March 31, 2014 whether the Notes may be surrendered for conversion in accordance with this clause (iv) and shall notify the Trustee, the Bid Solicitation
Agent (if other than the Trustee) and the Holders in writing if the Notes become convertible in accordance with this clause (iv). 

(v) If the Company calls any or all of the Notes for redemption pursuant to Article 16, the Notes may be surrendered for
conversion prior to the close of business on the Business Day immediately preceding the related Redemption Date, after which time Holders will no longer have the right to convert their Notes on account of the Company’s delivery of the related
Redemption Notice, unless the Company defaults in the payment of the related Redemption Price. 
 Section 14.02. Conversion
Procedure; Payment Upon Conversion. 
 (a) Except as provided in Section 14.03(b) and Section 14.07(a), upon conversion
of any Note, on the third Business Day immediately following the last Trading Day of the relevant Observation Period, the Company shall deliver to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, a
“Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 25 consecutive Trading Days during the related Observation Period, together with cash, if applicable, in lieu of delivering any fractional share of
Common Stock in accordance with subsection (j) of this Section 14.02. The Daily Settlement Amounts and the Settlement Amount shall be determined by the Company promptly following the last Trading Day of the relevant Observation Period.
Promptly after such determination of the Daily Settlement Amounts and the Settlement Amount, and the amount of cash  

  
 56 







 
payable in lieu of delivering any fractional share of Common Stock, the Company shall notify in writing the Trustee and the Conversion Agent (if other than the Trustee) of the Daily Settlement
Amounts and the Settlement Amount, and the amount of cash payable in lieu of delivering fractional shares of Common Stock. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any such determination. 

(b) Subject to Section 14.02(e), before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder shall
(i) in the case of a Global Note, comply with the Applicable Procedures and, if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h) and
(ii) in the case of a Physical Note (1) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion (or a facsimile thereof) (a “Notice of Conversion”)
at the office of the Conversion Agent and state in writing therein the principal amount of Notes to be converted, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement and transfer
documents), at the office of the Conversion Agent, (3) if required, furnish appropriate endorsements and transfer documents and (4) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is
not entitled as set forth in Section 14.02(h). The Conversion Agent shall notify the Company of any conversion pursuant to this Article 14 on the Conversion Date for such conversion. No Notice of Conversion with respect to any Notes may be
surrendered by a Holder thereof if such Holder has also delivered a Fundamental Change Repurchase Notice or a Specified Date Repurchase Notice to the Company in respect of such Notes and has not validly withdrawn such Fundamental Change Repurchase
Notice or Specified Date Repurchase Notice, as the case may be, in accordance with Section 15.03. 
 If more than one Note shall be
surrendered for conversion at one time by the same Holder, the Conversion Obligation with respect to such Notes shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted
thereby) so surrendered. 
 (c) A Note shall be deemed to have been converted immediately prior to the close of business on the date
(the “Conversion Date”) that the Holder has complied with the requirements set forth in subsection (b) above. If any shares of Common Stock are due to converting Holders, the Company shall issue or cause to be issued, and
deliver to the Conversion Agent or to such Holder, or such Holder’s nominee or nominees, an unrestricted book-entry transfer through the Depositary for the full number of shares of Common Stock (subject to an unrestricted CUSIP number) to which
such Holder shall be entitled in satisfaction of the Company’s Conversion Obligation. 
 (d) In case any Note shall be
surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Note so surrendered a new Note or Notes in authorized denominations in an aggregate
principal amount equal to the unconverted portion of the surrendered Note, without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer tax or


  
 57 







 
similar governmental charge required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such conversion being different from
the name of the Holder of the old Notes surrendered for such conversion. 
 (e) [Reserved]. 

(f) [Reserved]. 
 (g) Upon the
conversion of an interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall make a notation on such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify the
Trustee in writing of any conversion of Notes effected through any Conversion Agent other than the Trustee. 
 (h) Upon conversion, a
Holder shall not receive any separate cash payment for accrued and unpaid interest, if any, except as set forth below. The Company’s payment of the full Conversion Obligation shall be deemed to satisfy in full its obligation to pay the
principal amount of the Note and accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date. As a result, accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date shall be deemed to be
paid in full rather than cancelled, extinguished or forfeited. Notwithstanding the foregoing, if Notes are converted after the close of business on a Regular Record Date, Holders of such Notes as of the close of business on such Regular Record Date
will receive the full amount of interest payable on such Notes on the corresponding Interest Payment Date notwithstanding the conversion. Notes surrendered for conversion during the period from the close of business on any Regular Record Date to the
open of business on the immediately following Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the Notes so converted; provided that no such payment shall be required (1) for conversions
following the Regular Record Date immediately preceding the Maturity Date; (2) if the Company has specified a Fundamental Change Repurchase Date or a Redemption Date that is after a Regular Record Date and on or prior to the second Business Day
immediately following the corresponding Interest Payment Date; or (3) to the extent of any Defaulted Amounts, if any Defaulted Amounts exist at the time of conversion with respect to such Note. 

(i) The Person in whose name any shares of Common Stock delivered upon conversion are registered shall be treated as a stockholder of record
of such shares as of the close of business on the last Trading Day of the relevant Observation Period. Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion. 

(j) The Company shall not issue any fractional share of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of
delivering any fractional share of Common Stock issuable upon conversion based on the Daily VWAP on the last Trading Day of the relevant Observation Period. For each Note surrendered for conversion, the full number of shares that shall be issued
upon conversion thereof shall 

  
 58 







 
be computed on the basis of the aggregate Daily Settlement Amounts for the relevant Observation Period, and any fractional shares remaining after such computation shall be paid in cash. 

Section 14.03. Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental
Changes. (a) If the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change, the Company shall, under the
circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described below. A conversion of
Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant Notice of Conversion is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole
Fundamental Change up to, and including, the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the proviso in
clause (b) of the definition thereof, the 35th Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change).  

(b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change pursuant to Section 14.01(b)(iii),
the Company shall satisfy the related Conversion Obligation in accordance with Section 14.02 based on the Conversion Rate as increased to reflect the Additional Shares pursuant to the table below; provided, however, that if, at
the effective time of a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference Property following such Make-Whole Fundamental Change is composed entirely of cash, for any conversion of Notes
following the Effective Date of such Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of
converted Notes equal to the Conversion Rate (including any adjustment for the Additional Shares), multiplied by such Stock Price. In such event, the Conversion Obligation shall be paid to Holders in cash on the tenth Business Day following
the Conversion Date. The Company shall notify the Holders of Notes, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date
no later than five Business Days after such Effective Date. 
 (c) The number of Additional Shares, if any, by which the
Conversion Rate shall be increased shall be determined by reference to the table below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”) and the price (the
“Stock Price”) paid (or deemed to be paid) per share of the Common Stock in the Make-Whole Fundamental Change. If the holders of the Common Stock receive in exchange for their Common Stock only cash in a Make-Whole Fundamental
Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall  

  
 59 







 
be the average of the Last Reported Sale Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the
Make-Whole Fundamental Change. The Board of Directors shall make appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an
adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, during such five consecutive Trading Day period. 
 (d)
The Stock Prices set forth in the column headings of the table below shall be adjusted as of any date on which the Conversion Rate of the Notes is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately
prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so
adjusted. The number of Additional Shares set forth in the table below shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth in Section 14.04. 

(e) The following table sets forth the number of Additional Shares, if any, by which the Conversion Rate will be increased per $1,000
principal amount of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date set forth below: 
  

																																													
	 	  	Stock Price	 
	 Effective Date
	  	$44.68	 	  	$58.09	 	  	$70.00	 	  	$80.00	 	  	$90.00	 	  	$100.00	 	  	$115.00	 	  	$135.00	 	  	$165.00	 	  	$195.00	 	  	$230.00	 
	 September 5, 2014
	  	 	5.1647	  	  	 	2.4302	  	  	 	1.3460	  	  	 	0.8678	  	  	 	0.5863	  	  	 	0.4118	  	  	 	0.2554	  	  	 	0.1420	  	  	 	0.0575	  	  	 	0.0175	  	  	 	0.0000	  
	 August 15, 2015
	  	 	5.1647	  	  	 	2.0945	  	  	 	1.0644	  	  	 	0.6498	  	  	 	0.4236	  	  	 	0.2916	  	  	 	0.1787	  	  	 	0.0986	  	  	 	0.0386	  	  	 	0.0108	  	  	 	0.0000	  
	 August 15, 2016
	  	 	5.1647	  	  	 	1.7354	  	  	 	0.7621	  	  	 	0.4268	  	  	 	0.2657	  	  	 	0.1799	  	  	 	0.1105	  	  	 	0.0615	  	  	 	0.0232	  	  	 	0.0053	  	  	 	0.0000	  
	 August 15, 2017
	  	 	5.1647	  	  	 	1.2797	  	  	 	0.4056	  	  	 	0.1966	  	  	 	0.1181	  	  	 	0.0813	  	  	 	0.0523	  	  	 	0.0301	  	  	 	0.0109	  	  	 	0.0016	  	  	 	0.0000	  
	 August 19, 2018
	  	 	5.1647	  	  	 	0.3042	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  

 The exact Stock Prices and Effective Dates may not be set forth in the table above, in which case: 

(i) if the Stock Price is between two Stock Prices in the table above or the Effective Date is between two Effective Dates in
the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later Effective Dates, as applicable, based
on a 365-day year; 
 (ii) if the Stock Price is greater than $230.00 per share (subject to adjustment in the same manner as
the Stock Prices set forth in the column headings of the table above pursuant to subsection (d) above), no adjustment to the Conversion Rate shall be made; and 

(iii) if the Stock Price is less than $44.68 per share (subject to adjustment in the same manner as the Stock Prices set forth
in the column headings of the table above pursuant to subsection (d) above), no adjustment to the Conversion Rate shall be made. 

  
 60 







 Notwithstanding the foregoing, in no event shall the Conversion Rate per $1,000 principal amount of Notes exceed
22.3804, subject to adjustment in the same manner as the Conversion Rate pursuant to Section 14.04. 
 (f) Nothing in this
Section 14.03 shall prevent an adjustment to the Conversion Rate pursuant to Section 14.04 in respect of a Make-Whole Fundamental Change. 

Section 14.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company if any of the
following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Notes participate (other than in the case of a share split or share combination), at the same time and upon the same terms as
holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described in this Section 14.04, without having to convert their Notes, as if they held a number of shares of Common Stock equal to the
Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes held by such Holder. 
 (a) If the Company
exclusively issues shares of Common Stock as a dividend or distribution on shares of its Common Stock, or if the Company effects a share split or share combination, the Conversion Rate shall be adjusted based on the following formula: 

 

													
		 	 CR’
	 	=	 	CR0	 	x 	 	OS’	  	
	 	 	 	 	 	OS0	  	

  

					
	where,	  		  	
			
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share
combination, as applicable;
			
	CR’	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date; and
			
	OS’	  	=	  	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 Any adjustment made under this Section 14.04(a) shall become effective immediately after the open of business on the
Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the Effective Date for such share split or share combination, as applicable. If any dividend or distribution of the type described in this
Section 14.04(a) is declared but not so paid or made, the Conversion Rate shall be 

  
 61 







 
immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend
or distribution had not been declared. 
 (b) If the Company issues to all or substantially all holders of its Common Stock any rights,
options or warrants entitling them, for a period of not more than 45 calendar days after the date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the average of the Last Reported Sale
Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, the Conversion Rate shall be increased based on the following formula:

  

																	
		 	 CR’
	 	=	 	CR0	 	x 	  	OS0	 	+	 	X	  	
	 	 	 	 	  	OS0	 	+	 	Y	  	

  

					
		  	where,
			
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;
			
	CR’	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 Any increase made under this Section 14.04(b) shall be made successively whenever any such rights, options or warrants
are issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration of such rights, options or warrants, the
Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock
actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred. 

  
 62 







 For purposes of this Section 14.04(b) and for the purpose of Section 14.01(b)(ii)(A),
in determining whether any rights, options or warrants entitle the holders to subscribe for or purchase shares of the Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the date of announcement for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration
received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property or rights, options or
warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding (i) dividends, distributions or issuances as to which an adjustment was effected pursuant to Section 14.04(a) or
Section 14.04(b), (ii) dividends or distributions paid exclusively in cash as to which an adjustment was effected pursuant to Section 14.04(d), and (iii) Spin-Offs as to which the provisions set forth below in this
Section 14.04(c) shall apply (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities of the Company, the “Distributed
Property”), then the Conversion Rate shall be increased based on the following formula: 
  

																	
		 	 CR’
	 	=	 	CR0	 	x 	  	SP0	  	
	 	 	 	 	  	SP0	 	–	 	FMV	  	

  

					
	where,	  		  	
			
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
			
	CR’	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	SP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Board of Directors) of the Distributed Property with respect to each outstanding share of the Common Stock on the Ex-Dividend Date for such distribution.

 Any increase made under the portion of this Section 14.04(c) above shall become effective immediately
after the open of business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such distribution had not been
declared. Notwithstanding the foregoing, if “FMV” (as defined above) is equal to 

  
 63 







 
or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal amount thereof, at the same time
and upon the same terms as holders of the Common Stock receive the Distributed Property, the amount of Distributed Property such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in
effect on the Ex-Dividend Date for the distribution. If the Board of Directors determines the “FMV” (as defined above) of any distribution for purposes of this Section 14.04(c) by reference to the actual or when-issued trading market
for any securities, it shall in doing so consider the prices in such market over the same period used in computing the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day
immediately preceding the Ex-Dividend Date for such distribution. 
 With respect to an adjustment pursuant to this Section 14.04(c)
where there has been a payment of a dividend or other distribution on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company, that are, or,
when issued, will be, listed or admitted for trading on a U.S. national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 

 

																	
		 	 CR’
	 	=	 	CR0	 	x 	  	FMV0	 	+	 	MP0	  	
	 	 	 	 	  	MP0	  	

  

					
	 where,
	  		  	
			
	 CR0
	  	=	  	the Conversion Rate in effect immediately prior to the end of the Valuation Period;
			
	 CR’
	  	=	  	the Conversion Rate in effect immediately after the end of the Valuation Period;
			
	 FMV0
	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of
Last Reported Sale Price as set forth in Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the
Spin-Off (the “Valuation Period”); and
			
	 MP0
	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

 The adjustment to the Conversion Rate under the preceding paragraph shall occur on the last Trading Day
of the Valuation Period; provided that in respect of any conversion during the Valuation Period, references in the portion of this Section 14.04(c) related to Spin-Offs with respect to “10 Trading Days” shall be deemed to be
replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the Conversion Date in determining the Conversion Rate. 

  
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 For purposes of this Section 14.04(c) (and subject in all respect to
Section 14.11), rights, options or warrants distributed by the Company to all holders of its Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or under
certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are not
exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been distributed for purposes of this Section 14.04(c) (and no adjustment to the Conversion Rate under this
Section 14.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate
shall be made under this Section 14.04(c). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such
rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend
Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders thereof). In addition, in the
event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a
distribution amount for which an adjustment to the Conversion Rate under this Section 14.04(c) was made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders
thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such
distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock with respect to such rights, options
or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired
or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued. 

For purposes of Section 14.04(a),Section 14.04(b) and this Section 14.04(c), any dividend or distribution to which this
Section 14.04(c) is applicable that also includes one or both of: 
 (A) a dividend or distribution of shares of Common Stock to which
Section 14.04(a) is applicable (the “Clause A Distribution”); or 

  
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 (B) a dividend or distribution of rights, options or warrants to which Section 14.04(b) is
applicable (the “Clause B Distribution”), 
 then (1) such dividend or distribution, other than the Clause A Distribution and
the Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 14.04(c) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section 14.04(c)
with respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by
Section 14.04(a) and Section 14.04(b) with respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed
to be the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the open of business on such
Ex-Dividend Date or Effective Date” within the meaning of Section 14.04(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 14.04(b). 

(d) If any cash dividend or distribution is made to all or substantially all holders of the Common Stock, the Conversion Rate shall be
adjusted based on the following formula: 
  

																	
		 	 CR’
	 	=	 	CR0	 	x 	  	SP0	  	
	 	 	 	 	  	SP0	 	–	 	C	  	

  

					
	 where,
	  		  	
			
	 CR0
	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	 CR’
	  	=	  	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	 SP0
	  	=	  	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
			
	 C
	  	=	  	the amount in cash per share the Company distributes to all or substantially all holders of its Common Stock.

 Any increase pursuant to this Section 14.04(d) shall become effective immediately after the open of business on the
Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not to make or pay such dividend or distribution,
to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C” (as defined 

  
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above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall
receive, for each $1,000 principal amount of Notes, at the same time and upon the same terms as holders of shares of Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal
to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution. 
 (e) If the Company or any of its Subsidiaries make
a payment in respect of a tender or exchange offer for the Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the Last Reported Sale Price of the Common Stock
on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer the Conversion Rate shall be increased based on the following formula: 

 

																									
		 	 CR’
	 	=	 	CR0	 	x 	  	AC	 	+	 	(	 	SP’	 	x	 	OS	 	)	  	
	 	 	 	 	  	OS0 x SP’	  	

  

					
	where,	  		  	
			
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
			
	CR’	  	=	  	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires (prior to giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such
tender or exchange offer);
			
	OS’	  	=	  	the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (after giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender
or exchange offer); and
			
	SP’	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the date such tender or exchange offer expires.

  

  
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 The adjustment to the Conversion Rate under this Section 14.04(e) shall occur at the close of business on
the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires; provided that in respect of any conversion within the 10 Trading Days immediately following, and
including, the Trading Day next the expiration date of any tender or exchange offer, references in this Section 14.04(e) with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between
the date that such tender or exchange offer expires and the Conversion Date in determining the Conversion Rate. 
 (f) Notwithstanding this
Section 14.04 or any other provision of this Indenture or the Notes, if a Holder converts a Note and the Daily Settlement Amount for any Trading Day during the Observation Period applicable to such Note (i) is calculated based on a
Conversion Rate adjusted on account of any event described in clauses (a), (b), (c), (d) and (e) of this Section 14.04 and (ii) includes any shares of Common Stock that, but for this Section 14.04(f), would entitle their
holder to participate in such event, then, although such Holder will otherwise be treated as the holder of record of such shares of Common Stock on the last Trading Day of such Observation Period, the Company shall not permit such Holder to
participate in such event on account of such shares of Common Stock. 
 In addition, if a Holder converts a Note and (i) the
Ex-Dividend Date, Effective Date or expiration date for any event that requires an adjustment to the Conversion Rate under any of clauses (a), (b), (c), (d) and (e) of this Section 14.04 occurs (A) on or after the first Trading
Day of such Observation Period and (B) on or prior to the last Trading Day of such Observation Period and (ii) the Daily Settlement Amount for any Trading Day in such Observation Period that occurs on or prior to such Ex-Dividend Date,
Effective Date or expiration date (A) includes shares of Common Stock that do not entitle their holder to participate in such event and (B) is calculated based on a Conversion Rate that is not adjusted on account of such event, then, on
account of such conversion, the Company shall, on such Ex-Dividend Date, Effective Date or expiration date, treat such Holder, as a result of having converted such Notes, as though it were the record holder of a number of shares of Common Stock
equal to the total number of shares of Common Stock that (x) are deliverable as part of the Daily Settlement Amount for a Trading Day in such Observation Period that (I) occurs on or prior to such Ex-Dividend Date, Effective Date or
expiration date and (II) is calculated based on a Conversion Rate that is not adjusted for such event; and (y) if not for this provision, would not entitle such holder to participate in such event. 

(g) Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of its Common Stock or any securities
convertible into or exchangeable for shares of its Common Stock or the right to purchase shares of its Common Stock or such convertible or exchangeable securities. 

(h) In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 14.04, and to the extent
permitted by applicable law and subject to the applicable rules of The New York Stock Exchange, the Company from time to time may 

  
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increase the Conversion Rate by any amount for a period of at least 20 Business Days if the Board of Directors determines that such increase would be in the Company’s best interest. In
addition, to the extent permitted by applicable law and subject to the applicable rules of The New York Stock Exchange, the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common
Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or similar event. Whenever the Conversion Rate is increased pursuant to either of the preceding two sentences, the Company
shall mail to the Holder of each Note at its last address appearing on the Note Register, or, in the case of Global Notes, in accordance with the Applicable Procedures, with a copy to the Trustee and the Conversion Agent (if other than the Trustee),
a notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the period during which it will be in effect. 

(i) Notwithstanding anything to the contrary in this Article 14, the Conversion Rate shall not be adjusted: 

(i) upon the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of
dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

(ii) upon the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or
future employee, director or consultant benefit plan or program of or assumed by the Company or any of the Company’s Subsidiaries; 

(iii) upon the issuance of any shares of the Common Stock pursuant to any option, warrant, right or exercisable, exchangeable
or convertible security not described in clause (ii) of this subsection and outstanding as of the date the Notes were first issued; 

(iv) solely for a change in the par value of the Common Stock; or 

(v) for accrued and unpaid interest, if any. 

In addition, the Company will not undertake any transaction that would result in the Company being required, pursuant to this Indenture, to
adjust the Conversion Rate such that the Conversion Price per share of Common Stock will be less than the par value of the Common Stock. 

(j) All calculations and other determinations under this Article 14 shall be made by the Company and shall be made to the nearest one-ten
thousandth (1/10,000th) of a share. 

  
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 (k) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly file
with the Trustee (and the Conversion Agent if not the Trustee) an Officers’ Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a
Responsible Officer of the Trustee shall have received such Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of which
it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment becomes
effective and shall mail such notice of such adjustment of the Conversion Rate to each Holder at its last address appearing on the Note Register of this Indenture. Failure to deliver such notice shall not affect the legality or validity of any such
adjustment. 
 (l) For purposes of this Section 14.04, the number of shares of Common Stock at any time outstanding shall not include
shares held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates
issued in lieu of fractions of shares of Common Stock. 
 Section 14.05. Adjustments of Prices. Whenever any provision of
this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including an Observation Period and the period for determining
the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to
the Conversion Rate where the Ex-Dividend Date of the event occurs, at any time during the period when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated.  

Section 14.06. [Reserved]. 

Section 14.07. Effect of Recapitalizations, Reclassifications and Changes of the Common Stock. 

(a) In the case of: 

(i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or
combination), 
 (ii) any consolidation, merger or combination involving the Company, 

(iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company’s
Subsidiaries substantially as an entirety or 

  
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 (iv) any statutory share exchange, 

in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets
(including cash or any combination thereof) (any such event, a “Merger Event”), then, at and after the effective time of such Merger Event, the right to convert each $1,000 principal amount of Notes based on a number of shares of
Common Stock equal to the Conversion Rate will be changed into a right to convert such principal amount of Notes based on the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination
thereof) that a holder of a number of shares of the Common Stock equal to the Conversion Rate immediately prior to such Merger Event would have owned or been entitled to receive upon such Merger Event (such shares of stock, other securities or other
property or assets (including cash or any combination thereof) the “Reference Property”, with each “unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share of Common
Stock is entitled to receive) and, prior to or at the effective time of such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture permitted under
Section 10.01(f) providing for such change in the right to convert each $1,000 principal amount of Notes; provided, however, that, at and after the Effective Time of such Merger Event, (i) any
amount payable in cash upon conversion of the Notes as set forth in Section 14.02 will continue to be payable in cash, (ii) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes as set
in Section 14.02 will instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such transaction and (iii) the Daily VWAP will be calculated based on
the value of the amount and kind of Reference Property that a holder of one share of Common Stock would have received in such Merger Event.  

If the Merger Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of
consideration (determined based in part upon any form of stockholder election), then (i) the Reference Property used to determine the consideration into which the Notes will be convertible shall be deemed to be (x) the weighted average of
the types and amounts of consideration received by the holders of the Common Stock that affirmatively make such an election or (y) if no Holders of our Common Stock affirmatively make such an election, the types and amounts of consideration
actually received by the Holders of our Common Stock, and (ii) the unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of its
Common Stock. If the Holders receive only cash in such Merger Event, then for all conversions that occur after the effective date of such Merger Event (x) the consideration due upon conversion of each $1,000 principal amount of Notes shall be
solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased pursuant to Section 14.03), multiplied by the price paid per share of Common Stock in such Merger Event and (y) the Company
shall satisfy the Conversion Obligation by paying cash to converting Holders on the third Business Day immediately following the Conversion Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the
Trustee) in writing of such weighted average as soon as practicable after such determination is made. 

  
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 Such supplemental indenture described in the second immediately preceding paragraph shall provide
for anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article 14. If, in the case of any Merger Event, the Reference Property includes shares of stock, securities or other
property or assets (including cash or any combination thereof) of a Person other than the successor or purchasing corporation, as the case may be, in such Merger Event, then such supplemental indenture shall also be executed by such other Person and
shall contain such additional provisions to protect the interests of the Holders of the Notes as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including the provisions providing for the purchase rights set
forth in Article 15. 
 (b) In the event the Company shall execute a supplemental indenture pursuant to subsection (a) of this
Section 14.07, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a unit of Reference Property
after any such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly mail notice thereof to all Holders. The Company shall cause notice of the execution of such
supplemental indenture to be mailed to each Holder, at its address appearing on the Note Register provided for in this Indenture, or, in the case of Global Notes, sent in accordance with the Applicable Procedures, within 20 days after execution
thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 
 (c) The Company shall
not become a party to any Merger Event unless its terms are consistent with this Section 14.07. None of the foregoing provisions shall affect the right of a holder of Notes to convert its Notes into cash and, if applicable, shares of Common
Stock as set forth in Section 14.01 and Section 14.02 prior to the effective date of such Merger Event. 
 (d) The above
provisions of this Section shall similarly apply to successive Merger Events. 
 Section 14.08. Certain Covenants. 

(a) The Company covenants that any shares of Common Stock issued upon conversion of Notes will be validly issued, fully paid and
non-assessable by the Company and free from all taxes, liens and charges with respect to the issue thereof. 
 (b) The Company further
covenants that if at any time the Common Stock shall be listed on any national securities exchange or automated quotation system, the Company will use commercially reasonable efforts to list and keep listed, so long as the Common Stock shall be so
listed on such exchange or automated quotation system, any Common Stock issuable upon conversion of the Notes. 

  
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 Section 14.09. Responsibility of Trustee. The Trustee and any other Conversion Agent
shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate (or any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase) of the Conversion Rate, or with
respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other Conversion
Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any cash that may at any time be paid or, if applicable, shares of Common Stock that may at any time be delivered upon the conversion of any Note; and
the Trustee and any other Conversion Agent make no representations with respect thereto. Without limiting the generality of the foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of
any provisions contained in any supplemental indenture entered into pursuant to Section 14.07 relating either to the kind or amount of shares of stock or securities or property (including cash) receivable by Holders upon conversion of their
Notes after any event referred to in such Section 14.07 or to any adjustment to be made with respect thereto, but, subject to the provisions of Section 7.01, may accept (without any independent investigation) as conclusive evidence of the
correctness of any such provisions, and shall be protected in relying upon, the Officers’ Certificate (which the Company shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect
thereto. Neither the Trustee nor the Conversion Agent shall be responsible for determining whether any event contemplated by Section 14.01(b) has occurred that makes the Notes eligible for conversion or no longer eligible therefor until the
Company has delivered to the Trustee and the Conversion Agent the notices referred to in Section 14.01(b) with respect to the commencement or termination of such conversion rights, on which notices the Trustee and the Conversion Agent may
conclusively rely, and the Company agrees to deliver such notices to the Trustee and the Conversion Agent immediately after the occurrence of any such event or at such other times as shall be provided for in Section 14.01(b). 

Section 14.10. Notice to Holders Prior to Certain Actions. In case of any: 

(a) action by the Company or one of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to Section 14.04 or
Section 14.11; 
 (b) Merger Event; or 

(c) voluntary or involuntary dissolution, liquidation or winding-up of the Company or any of its Subsidiaries; 

then, in each case (unless notice of such event is otherwise required pursuant to another provision of this Indenture), the Company shall cause to be filed
with the Trustee and the Conversion Agent (if other than the Trustee) and to be mailed to each Holder at its address appearing on the Note Register, or, in the case of Global Notes, sent in accordance with the Applicable Procedures, as promptly as
possible but in any event at least 20 days prior to the applicable date hereinafter specified, a notice stating (i) the date on which a record is to be taken for the purpose of such action by the Company or one of


  
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its Subsidiaries or, if a record is not to be taken, the date as of which the holders of Common Stock of record are to be determined for the purposes of such action by the Company or one of its
Subsidiaries, or (ii) the date on which such Merger Event, dissolution, liquidation or winding-up is expected to become effective or occur, and the date as of which it is expected that holders of Common Stock of record shall be entitled to
exchange their Common Stock for securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding-up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such action by
the Company or one of its Subsidiaries, Merger Event, dissolution, liquidation or winding-up. 
 Section 14.11. Stockholder Rights
Plans. To the extent that the Company institutes a rights plan during the term of the Notes, the issuance of such rights will not trigger an adjustment to the Conversion Rate. If, however, the rights have separated from the shares of Common
Stock in accordance with the provisions of the applicable stockholder rights plan, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all or substantially all holders of the Common, shares of Capital
Stock of the Company, evidences of the Company’s indebtedness, other assets or property of the Company or rights, options or warrants to acquire Capital Stock or other securities of the Company as provided in Section 14.04(c), subject to
readjustment in the event of the expiration, termination or redemption of such rights. 
 ARTICLE 15 

REPURCHASE OF NOTES AT OPTION OF
HOLDERS 
 Section 15.01. Repurchase at Option of Holders on Specified Repurchase Dates. 

(a) On August 19, 2018, August 19, 2024, August 19, 2029, August 19, 2034 and August 19, 2039
(each a “Specified Repurchase Date”), each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion thereof so long as the principal
amount of such Holder’s Notes not submitted for repurchase equals $1,000 or an integral multiple of $1,000 in excess thereof, at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid
interest thereon, if any, to but excluding, the Specified Repurchase Date (the “Specified Date Repurchase Price”). 

(b) Notwithstanding the foregoing, no Notes may be repurchased by the Company on any Specified Repurchase Date if the principal amount of the
Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Specified Date Repurchase Price with respect to
such Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default by the Company in the payment of
the Specified Date Repurchase Price with respect to such Notes), or any instructions for book-entry transfer of the Notes in compliance with the Applicable Procedures shall be deemed to have been cancelled, and, upon such return or cancellation, as
the case may be, the Specified Date Repurchase Notice (as defined below) with respect thereto shall be deemed to have been withdrawn. 

  
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 (c) On or before the 25th Business Day prior to each Specified Repurchase Date, the
Company shall give notice (the “Specified Date Repurchase Company Notice”) to all Holders of Notes and the Trustee and the Paying Agent (in the case of a Paying Agent other than the Trustee) at the applicable address shown in the
Note Register of the Note Registrar, or, in the case of Global Notes, sent in accordance with the Applicable Procedures, of the Specified Repurchase Date and the repurchase right at the option of the Holders arising as a result thereof. Such notice
shall be by first class mail or, in the case of Global Notes, in accordance with the Applicable Procedures. Simultaneously with providing such Specified Date Repurchase Company Notice, the Company shall publish a notice containing such information
in a newspaper of general circulation in The City of New York or publish such information on the Company’s website or through such other public medium as the Company may use at such time. Each Specified Date Repurchase Company Notice shall
specify:  
 (i) the applicable Specified Repurchase Date; 

(ii) that Holders have the right to require the Company to purchase all or any portion of their Notes pursuant to
Section 15.01(a); 
 (iii) the last date on which a Holder may exercise the repurchase right pursuant to this
Article 3; 
 (iv) the Specified Date Repurchase Price; 

(v) if applicable, the name and address of the Paying Agent and the Conversion Agent; 

(vi) whether the Notes are convertible at such time and the applicable Conversion Rate; 

(vii) if applicable, that the Notes with respect to which a Specified Date Repurchase Notice has been delivered by a Holder may
be converted only if the Holder withdraws the Specified Date Repurchase Notice in accordance with the terms of this Indenture; and 

(viii) the procedures that Holders must follow to require the Company to repurchase their Notes. 

(d) No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect
the validity of the proceedings for the repurchase of the Notes pursuant to this Section 15.01. 
 (e) At the Company’s written
request, the Trustee shall give such notice in the Company’s name and at the Company’s expense; provided, however, that, in all cases, the text of such Specified Date Repurchase Company Notice shall be prepared by the


  
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Company; provided, further, that the Company shall have delivered to the Trustee, at least five Business Days before the Specified Date Repurchase Company Notice is required to
be sent (or such shorter period agreed to by the Trustee), an Officers’ Certificate requesting that the Trustee give such notice and setting forth the complete form of such notice and the information to be stated in such notice. Neither the
Trustee nor the Paying Agent shall be responsible for determining if a Specified Repurchase Date is forthcoming or has occurred or for delivering a Specified Date Repurchase Company Notice to Holders. 

Section 15.02. Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any
time, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof,
on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 calendar days or more than 35 Business Days following the date of the Fundamental Change Company Notice, subject
to extension to comply with applicable law, at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the
“Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which
case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be
repurchased pursuant to this Article 15.  
 (b) Repurchases of Notes under this Section 15.02 or Section 15.01, as
applicable, shall be made, at the option of the Holder thereof, upon: 
 (i) if the Notes to be purchased are Physical Notes,
delivery to the Paying Agent by the Holder of (x) a duly completed notice (the “Fundamental Change Repurchase Notice”) or (y) duly completed notice (the “Specified Date Repurchase Notice”), as applicable,
in the form set forth in Attachment 2, or in Attachment 3, as applicable, to the Form of Note attached hereto as Exhibit A, duly endorsed for transfer, prior to the close of business on the Business Day immediately
preceding the (x) Fundamental Change Repurchase Date, (the “Fundamental Change Expiration Time”) or (y) the applicable Specified Repurchase Date (the “Specified Repurchase Date Expiration Time”), as
applicable; and 
 (ii) if the Notes to be purchased are Global Notes, delivery of the Notes, by book-entry transfer, in
compliance with the Applicable Procedures and the satisfaction of any other requirements of the Depositary in connection with tendering beneficial interests in a Global Note for purchase, by the Fundamental Change Expiration Time or the Specified
Purchase Date Expiration Time, as applicable. 

  
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 The Fundamental Change Repurchase Notice or the Specified Date Repurchase Notice, as applicable,
in respect of any Notes to be repurchased shall state: 
 (i) in the case of Physical Notes, the certificate numbers of the
Notes to be delivered for repurchase; 
 (ii) the portion of the principal amount of Notes to be repurchased, which must be
$1,000 or an integral multiple in excess thereof; and 
 (iii) that the Notes are to be repurchased by the Company pursuant
to the applicable provisions of the Notes and this Indenture; 
 provided, however, that if the Notes are Global Notes, the Fundamental Change
Repurchase Notice or the Specified Date Repurchase Notice, as applicable, must comply with the Applicable Procedures. 

Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice
contemplated by this Section 15.02 or the Specified Date Repurchase Notice contemplated by Section 15.01, as applicable, shall have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice or Specified Date
Repurchase Notice, as applicable, at any time prior to the Fundamental Change Expiration Time or the Specified Repurchase Date Expiration Time, as applicable, by delivery of a written notice of withdrawal to the Paying Agent in accordance with
Section 15.03. 
 The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change Repurchase Notice
or Specified Date Repurchase Notice or written notice of withdrawal thereof. 
 (c) On or before the 20th calendar day after the
occurrence of the effective date of a Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee and the Paying Agent (in the case of a Paying Agent other than the Trustee) a notice (the “Fundamental Change Company
Notice”) of the occurrence of the effective date of the Fundamental Change and of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such notice shall be by first class mail or, in
the case of Global Notes, such notice shall be delivered in accordance with the Applicable Procedures. Simultaneously with providing such notice, the Company shall publish a notice containing the information set forth in the Fundamental Change
Company Notice in a newspaper of general circulation in The City of New York or publish such information on the Company’s website or through such other public medium as the Company may use at that time. Each Fundamental Change Company Notice
shall specify: 
 (i) the events causing the Fundamental Change; 

(ii) the date of the Fundamental Change; 

  
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 (iii) the last date on which a Holder may exercise the repurchase right pursuant
to this Article 15; 
 (iv) the Fundamental Change Repurchase Price; 

(v)the Fundamental Change Repurchase Date; 

(vi) the name and address of the Paying Agent and the Conversion Agent, if applicable; 

(vii) if applicable, the Conversion Rate and any adjustments to the Conversion Rate; 

(viii) that the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be
converted only if the Holder withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture; 

(ix) the procedures that Holders must follow to require the Company to repurchase their Notes. 

No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect the
validity of the proceedings for the repurchase of the Notes pursuant to this Section 15.02. 
 At the Company’s request
made at least five (5) Business Days before the Company is required to deliver the Fundamental Change Company Notice, the Trustee shall give such notice in the Company’s name and at the Company’s expense; provided,
however, that, in all cases, the text of such Fundamental Change Company Notice shall be prepared by the Company. 
 (d)
Notwithstanding the foregoing, no Notes may be repurchased by the Company on any date at the option of the Holders upon a Fundamental Change if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on
or prior to such date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes). The Paying Agent will promptly return to the respective
Holders thereof any Physical Notes held by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes),
or any instructions for book-entry transfer of the Notes in compliance with the Applicable Procedures shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with
respect thereto shall be deemed to have been withdrawn. 
 Section 15.03. Withdrawal of Repurchase Notice. (a) A
Fundamental Change Repurchase Notice or Specified Date Repurchase Notice may be withdrawn (in whole or 

  
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in part) by means of a written notice of withdrawal delivered to the Corporate Trust Office of the Paying Agent in accordance with this Section 15.03 at any time prior to the Fundamental
Change Expiration Time or the Specified Repurchase Date Expiration Time, as applicable, specifying: 
 (i) the principal
amount of the Notes with respect to which such notice of withdrawal is being submitted, 
 (ii) if Physical Notes have been
issued, the certificate number of the Note in respect of which such notice of withdrawal is being submitted, and 
 (iii) the
principal amount, if any, of such Note that remains subject to the original Fundamental Change Repurchase Notice or Specified Date Repurchase Notice, as applicable, which portion must be in principal amounts of $1,000 or an integral multiple of
$1,000 in excess thereof; 
 provided, however, that if the Notes are Global Notes, the notice must comply with the Applicable Procedures.

 Section 15.04. Deposit of Repurchase Price. (a) The Company will deposit with the Trustee (or other Paying
Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) on or prior to 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date or
the Specified Repurchase Date, as applicable, an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate Fundamental Change Repurchase Price or the Specified Date Repurchase Price, as applicable. Subject to
receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered for repurchase (and not withdrawn prior to the Fundamental Change Expiration Time or the Specified Repurchase Date
Expiration Time, as applicable) will be made on the later of (i) the Fundamental Change Repurchase Date or Specified Repurchase Date (provided the Holder has satisfied the conditions in Section 15.02 or Section 15.01, as
applicable) and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by Section 15.02 by mailing checks or by sending
by wire transfer of immediately available funds for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note Register; provided, however, that payments to the Depositary shall be made by wire
transfer of immediately available funds to the account of the Depositary or its nominee. The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Fundamental Change
Repurchase Price or the Specified Date Repurchase Price, as applicable. 
 (b) If by 11:00 a.m. New York City time, on the Fundamental
Change Repurchase Date or the Specified Repurchase Date, as applicable, the Trustee (or other Paying Agent appointed by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such
Fundamental Change Repurchase Date or Specified Repurchase Date, as applicable, then, with respect to the 

  
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Notes that have been properly surrendered for repurchase and not validly withdrawn, (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue on such Notes
(whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or Paying Agent) and (iii) all other rights of the Holders of such Notes will terminate (other than the right to receive the
Fundamental Change Repurchase Price or the Specified Date Repurchase Price, as applicable). 
 (c) Upon surrender of a Note that is to be
repurchased in part pursuant to Section 15.02, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unrepurchased portion of the Note
surrendered. 
 Section 15.05. Covenant to Comply with Applicable Laws Upon Repurchase of Notes. In connection with any
repurchase offer, the Company will, if required: 
 (a) comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer
rules under the Exchange Act; 
 (b) file a Schedule TO or any successor or similar schedule under the Exchange Act; and 

(c) otherwise comply with all federal and state securities laws in connection with any offer by the Company to repurchase the Notes; 

in each case, so as to permit the rights and obligations under this Article 15 to be exercised in the time and in the manner specified in this Article 15.

 ARTICLE 16 

REDEMPTION 

Section 16.01. Redemption Rights. The Notes shall not be redeemable by the Company prior to August 19, 2018, and no sinking
fund is provided for the Notes. 
 (a) On or after August 19, 2018, the Company may at any time or from time to time redeem any or all
of the Notes, except for the Notes that the Company is required to purchase under Section 15.01 or Section 15.02, as the case may be, in cash at the applicable Redemption Price. 

(b) The Company may elect to redeem any or all of the Notes pursuant to this Section 16.01 by providing a Redemption Notice pursuant to
Section 16.03, not more than 60 calendar days but not less than 30 calendar days prior to the Redemption Date. Simultaneously with providing such Redemption Notice, the Company shall publish a notice containing such information in a newspaper
of general circulation in The City of New York or publish such information on the Company’s website or through such other public medium as the Company may use at such time. The Company shall provide written notice to the Trustee 35 calendar
days prior to the Redemption Date or such shorter period agreed to by the Trustee. 

  
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 Section 16.02. Redemption Price. The “Redemption
Price” for the Notes to be redeemed on any Redemption Date shall be an amount equal to 100% of the principal amount of the Notes being redeemed, plus any accrued and unpaid interest, to, but excluding, the
Redemption Date. If the Redemption Date falls after a Regular Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, the Company shall pay the full amount of accrued and unpaid interest, if any, payable
on such Interest Payment Date to the holder of record as of the Close of Business on such Regular Record Date and the Redemption Price shall be an amount equal to 100% of the principal amount of the Notes being redeemed. 

Section 16.03. Redemption Notice. Notice of redemption (a “Redemption Notice”) shall
be given by first-class mail, postage prepaid, to each Holder of Notes to be redeemed at their addresses set forth in the Note Register or, in the case of Global Notes, electronically in accordance with the Applicable Procedures. 

(a) The Redemption Notice shall state: 

(i) the date on which the Redemption Price will become due and payable upon each such Note (the “Redemption
Date”) (which must be a Business Day); 
 (ii) the Redemption Price; 

(iii) that on the Redemption Date, the Redemption Price will become due and payable upon each such Note, and that interest
thereon, if any, shall cease to accrue on and after said date; 
 (iv) the place or places where such Notes are to be
surrendered for payment of the Redemption Price; 
 (v) that Holders have a right to convert the Notes called for redemption
upon satisfaction of the requirements set forth in the Indenture; 
 (vi) the time at which the Holders’ right to
convert the Notes called for redemption will expire, which will be the close of business on the Business Day immediately preceding the Redemption Date; 

(vii) the procedures a converting Holder must follow to convert its Notes; 

(viii) the Conversion Rate and, if applicable, the number of Additional Shares under Section 14.03; and 

(ix) the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes. 

(b) A Redemption Notice shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense
of the Company; provided that the 

  
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Company shall have delivered to the Trustee, at least five Business Days before the Redemption Notice is required to be sent (or such shorter period agreed to by the Trustee), an Officers’
Certificate requesting that the Trustee give such notice and setting forth the complete form of such notice and the information to be stated in such notice. 

(c) A Redemption Notice shall be irrevocable. 

(d) A Redemption Notice, if mailed in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not a
Holder receives such notice. In any case, a failure to send such Redemption Notice or any defect in the Redemption Notice to the Holder of any Notes shall not affect the validity of the proceedings for the redemption of any other Notes. 

Section 16.04. Payment of Notes Called for Redemption. 

(a) If any Redemption Notice has been given in respect of the Notes in accordance with Section 16.03, the Notes shall become due and
payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid
and redeemed by the Company at the applicable Redemption Price. Any Notes redeemed by the Company shall be paid in cash. 
 (b) Prior to
11:00 a.m., New York City time, on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 4.04, an amount of cash (in
immediately available funds if deposited on the Redemption Date) sufficient to pay the Redemption Price for all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be
redeemed shall be made promptly after the later of: 
 (i) the Redemption Date for such Notes; and 

(ii) the time of presentation of such Notes to the Trustee (or other Paying Agent appointed by the Company) by the Holder
thereof in the manner required by this Section 16.04. 
 The Paying Agent shall, promptly after such payment and upon written demand by
the Company, return to the Company any funds in excess of the Redemption Price. 
 (c) Any cash amounts due upon redemption in respect of
the Notes presented for redemption shall be paid by the Company to such Holder, or such Holder’s nominee or nominees. 

Section 16.05. Redemption in Part. 

(a) If less than all of the outstanding Notes are to be redeemed, the Trustee will select the Notes to be redeemed in principal amounts of
$1,000 or integral multiples of 

  
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$1,000 in excess thereof, by lot or by another method the Trustee considers reasonable, fair and appropriate in accordance with the Applicable Procedures. If a portion of the Notes is selected
for redemption and the Holder of such Notes converts a portion of its Notes, the converted portion shall be deemed to be of the portion selected for redemption, to the extent that the converted portion does not exceed the portion selected for
redemption. 
 (b) In the event of any redemption in part, the Company shall not be required to (i) issue, register the transfer of or
exchange any Notes during a period beginning at the open of business 15 calendar days before sending a Redemption Notice and ending at the close of business on the earliest date on which the relevant Redemption Notice is deemed to have been given to
all Holders of Notes to be redeemed or (ii) register the transfer of or exchange any Notes so selected for redemption, in whole or in part, except the unredeemed portion of any Notes being redeemed in part. 

Section 16.06. Restrictions on Redemption. The Company may not redeem the Notes on any date if the principal amount of the Notes
has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the
applicable Redemption Price with respect to such Notes). 
 ARTICLE 17 

MISCELLANEOUS PROVISIONS 

Section 17.01. Provisions Binding on Company’s Successors. All the covenants, stipulations, promises and agreements of
the Company contained in this Indenture shall bind its successors and assigns, whether so expressed or not. 

Section 17.02. Official Acts by Successor Corporation. Any act or proceeding by any provision of this Indenture authorized
or required to be done or performed by any board, committee or Officer of the Company shall and may be done and performed with like force and effect by the like board, committee or officer of any corporation or other entity that shall at the time be
the lawful sole successor of the Company. 
 Section 17.03. Addresses for Notices, Etc. Any notice or demand that
by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company shall be deemed to have been sufficiently given or made, for all purposes if given or served by being deposited postage
prepaid by registered or certified mail in a post office letter box addressed (until another address is filed by the Company with the Trustee) to Molina Healthcare, Inc., Attention: General Counsel, 300 University Avenue, Suite 100, Sacramento,
California 95825. Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified
mail in a post office letter box addressed to the Corporate Trust Office. 

  
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 The Trustee, by notice to the Company, may designate additional or different addresses for
subsequent notices or communications. 
 Any notice or communication mailed to a Holder shall be mailed to it by first class mail, postage
prepaid, at its address as it appears on the Note Register and shall be sufficiently given to it if so mailed within the time prescribed; provided that, in the case of Global Notes, any notices shall be sent in accordance with the Applicable
Procedures. 
 Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

Notwithstanding anything to the contrary contained herein, as long as the Notes are in the form of a Global Note, notice to the Holders may be
made electronically in accordance with the Applicable Procedures. 
 Section 17.04. Governing Law; Jurisdiction. THIS
INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF
LAWS PROVISIONS THEREOF). 
 The Company irrevocably consents and agrees, for the benefit of the Holders from time to time of the
Notes and the Trustee, that any legal action, suit or proceeding against it with respect to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Notes may be brought in the courts of the State of
New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and, until amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents and submits to the non-exclusive
jurisdiction of each such court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself in respect of its properties, assets and revenues. 

The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection which it may now or hereafter have
to the laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan,
New York City, New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

Section 17.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee. Upon any
application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall, if requested by the Trustee, furnish to the Trustee an Officers’ Certificate and an Opinion of Counsel
stating that such action is permitted by the terms of this Indenture. 

  
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 Each Officers’ Certificate or Opinion of Counsel provided for, by or on behalf of the
Company in this Indenture and delivered to the Trustee with respect to compliance with this Indenture (other than the Officers’ Certificates provided for in Section 4.08) shall include (a) a statement that the person making such
certificate is familiar with the requested action and this Indenture; (b) a brief statement as to the nature and scope of the examination or investigation upon which the statement contained in such certificate is based; (c) a statement
that, in the judgment of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed judgment as to whether or not such action is permitted by this Indenture; and (d) a statement
as to whether or not, in the judgment of such person, such action is permitted by this Indenture. 
 Section 17.06. Legal
Holidays. In any case where any Interest Payment Date, Fundamental Change Repurchase Date, Specified Repurchase Date, Redemption Date, Conversion Date or Maturity Date is not a Business Day, then any action to be taken on such date need not be
taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest shall accrue in respect of the delay. 

Section 17.07. No Security Interest Created. Nothing in this Indenture or in the Notes, expressed or implied, shall be
construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 17.08. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall give to any
Person, other than the Holders, the parties hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under this
Indenture. 
 Section 17.09. Table of Contents, Headings, Etc. The table of contents and the titles and headings
of the articles and sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 17.10. Authenticating Agent. The Trustee may appoint an authenticating agent that shall be authorized to act on its
behalf and subject to its direction in the authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06,
Section 2.07, Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all
purposes of this Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a certificate


  
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of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of
authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.08. 

Any corporation or other entity into which any authenticating agent may be merged or converted or with which it may be consolidated, or any
corporation or other entity resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to the corporate trust business of any authenticating agent, shall
be the successor of the authenticating agent hereunder, if such successor corporation or other entity is otherwise eligible under this Section 17.10, without the execution or filing of any paper or any further act on the part of the parties
hereto or the authenticating agent or such successor corporation or other entity. 
 Any authenticating agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon
receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee),
shall give written notice of such appointment to the Company and shall mail notice of such appointment to all Holders as the names and addresses of such Holders appear on the Note Register. 

The Company agrees to pay to the authenticating agent from time to time reasonable compensation for its services although the Company may
terminate the authenticating agent, if it determines such agent’s fees to be unreasonable. 
 The provisions of Section 7.02,
Section 7.03, Section 7.06, Section 8.03 and this Section 17.10 shall be applicable to any authenticating agent. 
 If
an authenticating agent is appointed pursuant to this Section 17.10, the Notes may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 

                          
                          , 

as Authenticating Agent, certifies that this is one of the Notes described 

in the within-named Indenture. 
 By:
                                         
    
 Authorized Officer 

Section 17.11. Execution in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall
be an original, but such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Indenture by facsimile, email or other electronic means shall be effective as delivery
of a manually executed counterpart of this Indenture. 

  
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 Section 17.12. Severability. In the event any provision of this Indenture or in the
Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired. 

Section 17.13. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 17.14. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts that are consistent with
accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 17.15.
Calculations. Except as otherwise provided herein, the Company shall be responsible for making all calculations called for under the Notes. These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of
the Common Stock, accrued interest payable on the Notes (including, without limitation, Additional Interest and Contingent Interest) and the Conversion Rate of the Notes. The Company shall make all these calculations in good faith and, absent
manifest error, the Company’s calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is
entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder of Notes upon the written request of that Holder at the sole
cost and expense of the Company. 
 Section 17.16. U.S.A. Patriot Act. The Company acknowledges that in accordance with
Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or
legal entity that establishes a relationship or opens an account with the Trustee. The Company agrees that it will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot
Act. 

  
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 [Remainder of page intentionally left blank] 

  
 88 







 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of the
date first written above. 
  

			
	 U.S. BANK NATIONAL

    ASSOCIATION, as Trustee

		
	By:	 	  

		 	Name:
		 	Title:
	
	MOLINA HEALTHCARE, INC.
		
	By:	 	  

		 	Name:
		 	Title:








 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 THIS NOTE HAS BEEN
ISSUED WITH “ORIGINAL ISSUE DISCOUNT” (WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED). A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE, COMPARABLE YIELD AND PROJECTED
PAYMENT SCHEDULE FOR SUCH NOTE BY SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO: MOLINA HEALTHCARE, INC., ATTENTION: VICE PRESIDENT OF TREASURY, 200 OCEANGATE, SUITE 100, LONG BEACH, CALIFORNIA 90802. 

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE] 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1 







 Molina Healthcare, Inc. 

1.625% Convertible Senior Notes due 2044 
  

					
	No. [            ]	  		  	[Initially]1 $[            ]

 CUSIP No. 60855R AD2 

Molina Healthcare, Inc., a Delaware corporation (the “Company,” which term includes any successor corporation or other entity
under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE & CO.]2,
[            ]3, or registered assigns, the principal sum of [            ]
DOLLARS ($[            ]) [as may be increased or decreased as set forth in the “Schedule of Exchanges of Notes” attached
hereto]4, which amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture, exceed $176,551,000 in aggregate at any time, in
accordance with the rules and Applicable Procedures of the Depositary, on August 15, 2044, and interest thereon as set forth below. 

This Note shall bear interest at the rate of 1.625% per year from September 5, 2014, or from the most recent date to which interest
had been paid or provided for to, but excluding, the next scheduled Interest Payment Date until August 15, 2044. Interest is payable semi-annually in arrears on each February 15 and August 15, commencing on February 15, 2015, to
Holders of record at the close of business on the preceding February 1 and August 1 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth in Section 4.13 and Section 6.03 of
the within-mentioned Indenture, and any reference to interest on, or in respect of, any Note therein shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to either of such
Section 4.13 or Section 6.03, and any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention is not
made. 
 Any Defaulted Amounts shall accrue interest per annum at the rate borne by the Notes, subject to the enforceability thereof under
applicable law, from, and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election, in accordance with Section 2.03(c) of the Indenture. 

The Company shall pay the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds to the
Depositary or its nominee, as the case may be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than Notes that are Global Notes) at the
office or agency designated by the Company for 
  

	1 	Include if a global note. 


	2 	Include if a global note. 


	3 	Include if a physical note. 


	4 	 Include if a global note. 



  
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that purpose. The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its agency in the Borough of Manhattan, The City of New York, as
a place where Notes may be presented for payment or for registration of transfer. 
 Reference is made to the further provisions of this
Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right to convert this Note into cash and, if applicable, shares of Common Stock on the terms and subject to the limitations set forth
in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This
Note, and any claim, controversy or dispute arising under or related to this Note, shall be construed in accordance with and governed by the laws of the State of New York (without regard to the conflicts of laws provisions thereof). 

In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern. 

This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed
manually by the Trustee or a duly authorized authenticating agent under the Indenture. 
 [Remainder of page intentionally left
blank] 

  
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 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

 

			
	MOLINA HEALTHCARE, INC.
		
	By:	 	  

		 	Name: John C. Molina
		 	Title:   Chief Financial Officer


 Dated: 

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION


			
	
	 U.S. BANK NATIONAL ASSOCIATION
 as
Trustee, certifies that this is one of the 1.625%
 Convertible Senior Notes due 2044 described

in the within-named Indenture.

		
	By:	 	  

		 	Authorized Officer


  
 A-4 







 [FORM OF REVERSE OF NOTE] 

Molina Healthcare, Inc. 
 1.625%
Convertible Senior Note due 2044 
 This Note is one of a duly authorized issue of Notes of the Company, designated as its 1.625%
Convertible Senior Notes due 2044 (the “Notes”), initially limited to the aggregate principal amount of $176,551,000, all issued or to be issued under and pursuant to an Indenture dated as of September 5, 2014 (the
“Indenture”), between the Company and U.S. Bank National Association (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations
of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount, subject to certain conditions specified in the
Indenture. 
 In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the principal of, and
interest on, all Notes may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject to
the conditions and certain exceptions set forth in the Indenture. 
 Subject to the terms and conditions of the Indenture, the Company will
make all payments and, if applicable, deliveries in respect of the Fundamental Change Repurchase Price on the Fundamental Change Repurchase Date, the Specified Date Repurchase Price on the Specified Repurchase Date, the Redemption Price on the
Redemption Date and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect such payments in respect of the Note. The Company will pay cash amounts in money of the United States
that at the time of payment is legal tender for payment of public and private debts. 
 The Indenture contains provisions permitting the
Company and the Trustee in certain circumstances, without the consent of the Holders of the Notes, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time
outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of
a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay or, if applicable, deliver the principal (including the Fundamental Change Repurchase Price, Specified Date Repurchase Price and Redemption Price, if applicable) of, accrued and unpaid interest on, and the
consideration due upon conversion of, this Note at the place, at the respective times, at the rate and in the lawful money herein prescribed as provided in the last paragraph of Section 6.06 of the Indenture. 

  
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 The Notes are issuable in registered form without coupons in denominations of $1,000 principal
amount and integral multiples in excess thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate principal
amount of Notes of other authorized denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as
a result of the name of the Holder of the new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such exchange. 

The Notes are not subject to redemption through the operation of any sinking fund or otherwise. 

Upon the occurrence of a Fundamental Change or on a Specified Repurchase Date, the Holder has the right, at such Holder’s option, to
require the Company to repurchase for cash all of such Holder’s Notes or any portion thereof (in principal amounts of $1,000 or integral multiples of $1,000 in excess thereof) on the Fundamental Change Repurchase Date or the Specified
Repurchase Date, as applicable, at a price equal to the Fundamental Change Repurchase Price or the Specified Date Repurchase Price, as applicable. 

On or after August 19, 2018, the Company may at any time or from time to time redeem any or all of the Notes, except for the notes that
the Company is required to repurchase as discussed above, in cash at a price equal to the Redemption Price. 
 Subject to the provisions of
the Indenture, the Holder hereof has the right, at its option, during certain periods and upon the occurrence of certain conditions specified in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding
the Maturity Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple of $1,000 in excess thereof, into cash and, if applicable, shares of Common Stock at the Conversion Rate specified in the Indenture, as adjusted from
time to time as provided in the Indenture. 
 Terms used in this Note and defined in the Indenture are used herein as therein defined. 

  
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 ABBREVIATIONS 

The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full
according to applicable laws or regulations: 
 TEN COM = as tenants in common 

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act 
 CUST =
Custodian 
 TEN ENT = as tenants by the entireties 
 JT TEN =
joint tenants with right of survivorship and not as tenants in common 
 Additional abbreviations may also be used though not in the above
list. 

  
 A-7 







 SCHEDULE A5 

SCHEDULE OF EXCHANGES OF NOTES 

Molina Healthcare, Inc. 
 1.625%
Convertible Senior Notes due 2044 
 The initial principal amount of this Global Note is
[            ] DOLLARS ($[            ]). The following increases or decreases in this Global Note have been made: 

 

									
	 Date of exchange
	  	Amount of
decrease in
principal amount
of this Global Note	  	Amount of
increase in
principal amount
of this Global Note	  	Principal amount
of this Global Note
following such
decrease or
increase	  	Signature of
authorized
signatory of
Trustee or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	5 	Include if a global note. 


  
 A-8 







 ATTACHMENT 1 

[FORM OF NOTICE OF CONVERSION] 
 To: Molina
Healthcare, Inc. 
 The undersigned registered owner of this Note hereby exercises the option to convert this Note, or the portion hereof
(that is $1,000 principal amount or an integral multiple in excess thereof) below designated, into cash and, if applicable, shares of Common Stock in accordance with the terms of the Indenture referred to in this Note, and directs that any cash
payable and any shares of Common Stock issuable and deliverable upon such conversion, together with any cash for any fractional share, and any Notes representing any unconverted principal amount hereof, be issued and delivered to the registered
Holder hereof unless a different name has been indicated below. Any amount required to be paid to the undersigned on account of interest accompanies this Note. 
  

							
	Dated:	 	  
	 	 	 	  

		 		 		 	  

		 		 		 	Signature(s)

  

					
			
	  
	 		 	
	Signature Guarantee	 		 	
	Signature(s) must be guaranteed	 		 	
	by an eligible Guarantor Institution	 		 	
	(banks, stock brokers, savings and	 		 	
	loan associations and credit unions)	 		 	
	with membership in an approved	 		 	
	signature guarantee medallion program	 		 	
	pursuant to Securities and Exchange	 		 	
	Commission Rule 17Ad-15 if shares	 		 	
	of Common Stock are to be issued, or	 		 	
	Notes are to be delivered, other than	 		 	
	to and in the name of the	 		 	
	registered holder.	 		 	
	Fill in for registration of shares if	 		 	
	to be issued, and Notes if to	 		 	
	be delivered, other than to and in the	 		 	
	name of the registered holder:	 		 	
	  
	 		 	
	(Name)	 		 	
	  
	 		 	
	(Street Address)	 		 	
	  
	 		 	
	(City, State and Zip Code)	 		 	


  
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	Please print name and address	    		  	
		    	Principal amount to be converted (if less than all):	  	
		    	$            ,000	  	
		    	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.
		    	  
	  	
		    	Social Security or Other Taxpayer	  	
		    	Identification Number	  	







 
ATTACHMENT 2 
 [FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE] 

To: Molina Healthcare, Inc. 
 The
undersigned registered owner of this Note hereby acknowledges receipt of a notice from Molina Healthcare, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental
Change Repurchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion
thereof (that is $1,000 principal amount or an integral multiple in excess thereof) below designated, and (2) if such Fundamental Change Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the
corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date. 

In the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below: 

 

							
	Dated:	 	  
	 		 	
		 		 		 	  

		 		 		 	Signature(s)
				
		 		 		 	  

		 		 		 	 Social Security or Other Taxpayer

Identification Number
 Principal amount to be repurchased by the
Company (if less than all): $            ,000
 NOTICE: The above signature(s) of the Holder(s)
hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

		 		 		 


  
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 ATTACHMENT 3 

[FORM OF SPECIFIED DATE REPURCHASE NOTICE] 
 To:
Molina Healthcare, Inc. 
 The undersigned registered owner of this Note hereby acknowledges receipt of a notice from Molina
Healthcare, Inc. (the “Company”) as to the occurrence of a Specified Repurchase Date and specifying the Specified Repurchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with
Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple in excess thereof) below designated, and (2) if such
Specified Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Specified Repurchase Date.

 In the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below: 

 

							
	Dated:	 	  
	 		 	
		 		 		 	  

		 		 		 	Signature(s)
				
		 		 		 	  

		 		 		 	Social Security or Other Taxpayer
		 		 		 	Identification Number
		 		 		 	Principal amount to be repurchased by the Company (if less than all): $            ,000
		 		 		 	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.


  
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 ATTACHMENT 4 

[FORM OF ASSIGNMENT AND TRANSFER] 
 For value
received                     hereby sell(s), assign(s) and transfer(s) unto
                    (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes
and appoints                     attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.


  
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	Dated:	 	  
	 	 	 	 	 	 	 	 
				
	  
	 	 	 	 	 	 
				
	  
	 	 	 	 	 	 


			
	 Signature(s)
	 	
		
	  
	 	


			
	 Signature Guarantee
	 	
		
	 Signature(s) must be guaranteed by an
	 	
	 eligible Guarantor Institution (banks, stock
	 	
	 brokers, savings and loan associations and
	 	
	 credit unions) with membership in an approved
	 	
	 signature guarantee medallion program pursuant
	 	
	 to Securities and Exchange Commission
	 	
	 Rule 17Ad-15 if Notes are to be delivered, other
	 	
	 than to and in the name of the registered holder.
	 	

 NOTICE: The signature on the assignment must correspond with the name as written upon the face of the Note in every particular
without alteration or enlargement or any change whatever. 

  
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