Document:

Indenture dated April 19, 2005

 EXHIBIT 4.5 
  

  
 Nabi Biopharmaceuticals 
  
 2.875% Convertible
Senior Notes due 2025 
  

  
 INDENTURE 
  
 Dated as of April 19, 2005 
  
 U.S. Bank National Association 
  
 as TRUSTEE 
  

 CROSS-REFERENCE TABLE (1) 
  

					
	Trust Indenture Act Sections

	  	 Indenture Section

	§ 310	  	(a)(1)	  	7.10
	 	  	(a)(2)	  	7.10
	 	  	(a)(3)	  	Not Applicable
	 	  	(a)(4)	  	Not Applicable
	 	  	(a)(5)	  	7.10
	 	  	(b)	  	7.8; 7.10
	 	  	(c)	  	Not Applicable
			
	§ 311	  	(a)	  	7.11
	 	  	(b)	  	7.11
	 	  	(c)	  	Not Applicable
			
	§ 312	  	(a)	  	2.5
	 	  	(b)	  	11.3
	 	  	(c)	  	11.3
			
	§ 313	  	(a)	  	7.6
	 	  	(b)	  	7.6
	 	  	(c)	  	7.6
	 	  	(d)	  	7.6
			
	§ 314	  	(a)	  	4.2; 4.3
	 	  	(b)	  	Not Applicable
	 	  	(c)	  	11.4
	 	  	(d)	  	Not Applicable
	 	  	(e)	  	11.5
	 	  	(p)	  	Not Applicable
			
	§ 315	  	(a)	  	7.1
	 	  	(b)	  	7.5
	 	  	(c)	  	7.1
	 	  	(d)	  	7.1
	 	  	(e)	  	6.11
			
	§ 316	  	(a)(1)(A)	  	6.5
	 	  	(a)(1)(B)	  	6.4
	 	  	(a)(2)	  	Not Applicable
	 	  	(b)	  	6.7
	 	  	(c)	  	1.5

  

 i 

					
	§ 317	  	(a)(1)	  	6.8
	 	  	(a)(2)	  	6.9
	 	  	(b)	  	2.4
			
	§ 318	  	(a)	  	11.1

  

	(1)	This Cross-Reference Table shall not (i) be deemed, for any purpose, to constitute part of the Indenture, nor (ii) have any bearing on the interpretation of any of its terms or
provisions 

  

 ii 

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page

	 ARTICLE I.     DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
			
	 Section 1.1
	  	 Definitions
	  	1
	 Section 1.2
	  	 Other Definitions
	  	6
	 Section 1.3
	  	 Incorporation by Reference of Trust Indenture Act
	  	7
	 Section 1.4
	  	 Rules of Construction
	  	7
	 Section 1.5
	  	 Acts of Holders
	  	8
		
	 ARTICLE II.     THE SECURITIES
	  	9
			
	 Section 2.1
	  	 Form and Dating
	  	9
	 Section 2.2
	  	 Execution and Authentication
	  	10
	 Section 2.3
	  	 Registrar, Paying Agent and Conversion Agent
	  	10
	 Section 2.4
	  	 Paying Agent to Hold Money and Securities in Trust
	  	11
	 Section 2.5
	  	 Securityholder Lists
	  	11
	 Section 2.6
	  	 Transfer and Exchange
	  	11
	 Section 2.7
	  	 Replacement Securities
	  	14
	 Section 2.8
	  	 Outstanding Securities; Determinations of Holders’ Action
	  	14
	 Section 2.9
	  	 Temporary Securities
	  	15
	 Section 2.10
	  	 Cancellation
	  	15
	 Section 2.11
	  	 Persons Deemed Owners
	  	16
	 Section 2.12
	  	 Global Securities
	  	16
	 Section 2.13
	  	 CUSIP Numbers
	  	21
	 Section 2.14
	  	 Additional Securities
	  	21
	 Section 2.15
	  	 Liquidated Damages Under the Registration Rights Agreement
	  	22
		
	 ARTICLE III.     REDEMPTION AND PURCHASES
	  	22
			
	 Section 3.1
	  	 Company’s Right to Redeem; Notices to Trustee
	  	22
	 Section 3.2
	  	 Selection of Securities to Be Redeemed
	  	23
	 Section 3.3
	  	 Notice of Redemption
	  	23
	 Section 3.4
	  	 Effect of Notice of Redemption
	  	24
	 Section 3.5
	  	 Deposit of Redemption Price
	  	24
	 Section 3.6
	  	 Securities Redeemed in Part
	  	25
	 Section 3.7
	  	 Repurchase of Securities at Option of the Holder
	  	25
	 Section 3.8
	  	 Effect of Repurchase Notice
	  	26
	 Section 3.9
	  	 Deposit of Repurchase Price
	  	26
	 Section 3.10
	  	 Securities Repurchased in Part
	  	27
	 Section 3.11
	  	 Purchase of Securities at Option of the Holder upon Fundamental Change
	  	27
	 Section 3.12
	  	 Effect of Fundamental Change Purchase Notice; Withdrawal
	  	31
	 Section 3.13
	  	 Deposit of Fundamental Change Purchase Price
	  	32
	 Section 3.14
	  	 Securities Purchased in Part
	  	32

  

 iii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 Section 3.15
	  	 Covenant to Comply With Securities Laws Upon Purchase of Securities
	  	32
	 Section 3.16
	  	 Repayment to the Company
	  	32
		
	 ARTICLE IV.     COVENANTS
	  	33
			
	 Section 4.1
	  	 Payment of Securities
	  	33
	 Section 4.2
	  	 SEC and Other Reports
	  	33
	 Section 4.3
	  	 Compliance Certificate
	  	33
	 Section 4.4
	  	 Further Instruments and Acts
	  	33
	 Section 4.5
	  	 Maintenance of Office or Agency
	  	33
	 Section 4.6
	  	 Delivery of Certain Information
	  	34
	 Section 4.7
	  	 Treatment of Securities
	  	34
	 Section 4.8
	  	 Liquidated Damages
	  	34
		
	 ARTICLE V.     SUCCESSOR CORPORATION
	  	34
			
	 Section 5.1
	  	 When Company May Merge or Transfer Assets
	  	34
		
	 ARTICLE VI.     DEFAULTS AND REMEDIES
	  	35
			
	 Section 6.1
	  	 Events of Default
	  	35
	 Section 6.2
	  	 Acceleration
	  	37
	 Section 6.3
	  	 Other Remedies
	  	37
	 Section 6.4
	  	 Waiver of Past Defaults
	  	38
	 Section 6.5
	  	 Control by Majority
	  	38
	 Section 6.6
	  	 Limitation on Suits
	  	38
	 Section 6.7
	  	 Rights of Holders to Receive Payment
	  	39
	 Section 6.8
	  	 Collection Suit by Trustee
	  	39
	 Section 6.9
	  	 Trustee May File Proofs of Claim
	  	39
	 Section 6.10
	  	 Priorities
	  	40
	 Section 6.11
	  	 Undertaking for Costs
	  	40
	 Section 6.12
	  	 Waiver of Stay, Extension or Usury Laws
	  	40
		
	 ARTICLE VII.     TRUSTEE
	  	41
			
	 Section 7.1
	  	 Duties of Trustee
	  	41
	 Section 7.2
	  	 Rights of Trustee
	  	42
	 Section 7.3
	  	 Individual Rights of Trustee
	  	43
	 Section 7.4
	  	 Trustee’s Disclaimer
	  	43
	 Section 7.5
	  	 Notice of Defaults
	  	43
	 Section 7.6
	  	 Reports by Trustee to Holders
	  	44
	 Section 7.7
	  	 Compensation and Indemnity
	  	44
	 Section 7.8
	  	 Replacement of Trustee
	  	45

  

 iv 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 Section 7.9
	  	 Successor Trustee by Merger
	  	45
	 Section 7.10
	  	 Eligibility; Disqualification
	  	45
	 Section 7.11
	  	 Preferential Collection of Claims Against Company
	  	46
	 Section 7.12
	  	 Force Majeure
	  	46
		
	 ARTICLE VIII.     AMENDMENTS
	  	46
			
	 Section 8.1
	  	 Without Consent of Holders
	  	46
	 Section 8.2
	  	 With Consent of Holders
	  	47
	 Section 8.3
	  	 Compliance with Trust Indenture Act
	  	48
	 Section 8.4
	  	 Revocation and Effect of Consents, Waivers and Actions
	  	48
	 Section 8.5
	  	 Notation on or Exchange of Securities
	  	48
	 Section 8.6
	  	 Trustee to Sign Supplemental Indentures
	  	48
	 Section 8.7
	  	 Effect of Supplemental Indentures
	  	48
		
	 ARTICLE IX.     CONVERSIONS
	  	49
			
	 Section 9.1
	  	 Conversion Privilege
	  	49
	 Section 9.2
	  	 Conversion Procedure; Conversion Rate; Fractional Shares
	  	51
	 Section 9.3
	  	 Adjustment of Conversion Rate
	  	52
	 Section 9.4
	  	 Consolidation or Merger of the Company
	  	61
	 Section 9.5
	  	 Notice of Adjustment
	  	63
	 Section 9.6
	  	 Notice in Certain Events
	  	63
	 Section 9.7
	  	 Company To Reserve Stock: Registration; Listing
	  	64
	 Section 9.8
	  	 Taxes on Conversion
	  	64
	 Section 9.9
	  	 Conversion After Record Date
	  	65
	 Section 9.10
	  	 Company Determination Final
	  	65
	 Section 9.11
	  	 Responsibility of Trustee for Conversion Provisions
	  	65
	 Section 9.12
	  	 Conversion After a Public Acquirer Fundamental Change
	  	66
	 Section 9.13
	  	 Option to Satisfy Conversion Obligation with Cash, Common Stock or Combination Thereof
	  	66
		
	 ARTICLE X.     SATISFACTION AND DISCHARGE OF INDENTURE
	  	69
			
	 Section 10.1
	  	 Satisfaction and Discharge of Indenture
	  	69
	 Section 10.2
	  	 Application of Trust Money
	  	70
	 Section 10.3
	  	 Repayment to Company
	  	70
	 Section 10.4
	  	 Reinstatement
	  	70
		
	 ARTICLE XI.     MISCELLANEOUS
	  	70
			
	 Section 11.1
	  	 Trust Indenture Act Controls
	  	70
	 Section 11.2
	  	 Notices
	  	71
	 Section 11.3
	  	 Communication by Holders with Other Holders
	  	72

  

 v 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 Section 11.4
	  	 Certificate and Opinion as to Conditions Precedent
	  	72
	 Section 11.5
	  	 Statements Required in Certificate or Opinion
	  	72
	 Section 11.6
	  	 Separability Clause
	  	72
	 Section 11.7
	  	 Rules by Trustee, Paying Agent, Conversion Agent and Registrar
	  	72
	 Section 11.8
	  	 Legal Holidays
	  	72
	 Section 11.9
	  	 Governing Law
	  	73
	 Section 11.10
	  	 Waiver of Jury Trial
	  	73
	 Section 11.11
	  	 No Recourse Against Others
	  	73
	 Section 11.12
	  	 Successors
	  	73
	 Section 11.13
	  	 Multiple Originals
	  	73
	 Section 11.14
	  	 Effect of Headings and Table of Contents
	  	73

  

			
	EXHIBIT A	  	Form of Global Security
	 EXHIBIT B
	  	Form of Certificated Security
	 EXHIBIT C
	  	Transfer Certificate

  

 vi 

 INDENTURE dated as of April 19, 2005 between NABI BIOPHARMACEUTICALS, a Delaware corporation (the
“Company”), and U.S. BANK NATIONAL ASSOCIATION (the “Trustee”). 
  
 RECITALS OF THE COMPANY 
  
 The Company has duly authorized the creation of an issue of 2.875% Convertible Senior Notes due 2025 (the “Securities”) having the terms, tenor, amount and other provisions hereinafter set forth, and,
to provide therefor, the Company has duly authorized the execution and delivery of this Indenture. 
  
 All things necessary to make the Securities, when the Securities are duly executed by the Company and are authenticated and delivered hereunder and duly
issued by the Company, the valid obligations of the Company, and to make this Indenture a valid and binding agreement of the Company, in accordance with their and its terms, have been done. In addition, all things necessary to duly authorize the
issuance of the Common Stock of the Company issuable upon the conversion of the Securities, and to duly reserve for issuance the number of Common Stock issuable upon such conversion, have been done. 
  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
  
 For and in consideration of the premises and the purchase of the Securities
by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities, as follows: 
  
 ARTICLE I. 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
  
 Section 1.1 Definitions.

  
 “144A Global Security” means a permanent
Global Security in the form of the Security attached hereto as Exhibit A, and that is deposited with and registered in the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities Act. 
  
 “Additional Securities” means the Company’s 2.875%
Convertible Senior Notes due 2025 originally issued after the Issue Date pursuant to Section 2.14, including any replacement Securities as specified in the relevant Additional Securities Board Resolutions or Additional Securities Supplemental
Indenture issued therefor in accordance with this Indenture. 
  
 “Additional Securities Board Resolutions” means resolutions duly adopted by the Board of Directors of the Company and delivered to the Trustee in an Officers’ Certificate providing for the issuance of Additional
Securities. 
  
 “Additional Securities Supplemental
Indenture” means a supplement to this Indenture duly executed and delivered by the Company and the Trustee pursuant to Article VIII providing for the issuance of Additional Securities. 
  

 “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 transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of the Depositary for such Security, in each case to the extent applicable to such transaction and as in effect
from time to time. 
  
 “Board of Directors” means
either the board of directors of the Company or any duly authorized committee of such board. 
  
 “Board Resolution” means a resolution of the Board of Directors. 
  
 “Business Day” means, with respect to any Security, a day other than a Saturday, a Sunday, or a day that in The City of New York is not a
day on which banking institutions are authorized or required by law, regulation or executive order to close. 
  
 “Capital Stock” for any corporation means any and all shares, interests, rights to purchase, warrants, options, participations or other
equivalents of or interests in (however designated) equity issued by that corporation, but excluding any debt securities convertible into such equity. 
  
 “Certificated Securities” means Securities that are in the form of the Securities attached hereto as Exhibit B. 
  
 “Common Stock” shall mean the Common Stock, $0.10 par value
per share, of the Company existing on the date of this Indenture or any other shares of Capital Stock of the Company into which such Common Stock shall be reclassified or changed. 
  
 “Company” means the party named as the “Company” in the first paragraph of this Indenture until a
successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 
  
 “Company Request” or “Company Order” means
a written request or order signed in the name of the Company by any two Officers. 
  
 “Conversion Price” means, as of any date, $1,000 divided by the Conversion Rate in effect on such date. 
  
 “Conversion Rate” means initially 69.8348 shares per $1,000 principal amount of Securities, subject to adjustment as set forth herein.

  

 2 

 “Corporate Trust Office” means the corporate trust office of the Trustee at which at any
time this Indenture is principally administered, which office at the date hereof is located at One Federal Street, 3rd Floor, Boston Massachusetts, Attention: Bond Window, 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 (or such
other address as a successor Trustee may designate from time to time by notice to the Holders and the Company). 
  
 “Default” means an event which, with the giving of notice or the lapse of time, or both, would become an Event of Default. 
  
 “Exchange Act” mans the Securities Exchange Act of 1934, as
amended. 
  
 “Global Securities” means Securities
that are in the form of the Securities attached hereto as Exhibit A, and that are registered in the register of Securities in the name of a Depositary or a nominee thereof, and to the extent that such Securities are required to bear the Legend
required by Section 2.6(f) hereof, such Securities will be in the form of a 144A Global Security. 
  
 “Holder” or “Securityholder” means a Person in whose name a Security is registered on the Registrar’s books.

  
 “Indenture” means this Indenture, as amended
or supplemented from time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed to be a part hereof. 
  
 “Initial Purchasers” means Lehman Brothers Inc., Bear, Stearns & Co. Inc. and Wachovia Capital Markets LLC. 
  
 “Interest Payment Date” means each April 15 and October 15
of each year, commencing October 15, 2005. 
  
 “Issue
Date” of any Security means the date on which the Security was originally issued or deemed issued as set forth on the face of the Security. 
  
 “Liquidated Damages” shall have the meaning ascribed to it in the Registration Rights Agreement. 
  
 “Majority Owned” means having “beneficial
ownership” (as defined in Rule 13d-3 under the Exchange Act) of more than 50% of the total voting power of all shares of the respective entity’s Capital Stock that are entitled to vote generally in the election of directors. “Majority
Owner” has the correlative meaning. 
  
 “Officer” means the chairman of the board, the vice chairman, the chief executive officer, the president, any vice president, the treasurer, the controller, or the secretary or any assistant treasurer or assistant secretary
of the Company. 
  
 “Officers’ Certificate”
means a written certificate containing the information specified in Sections 11.4 and 11.5, signed in the name of the Company by any two Officers, and delivered to the Trustee. An Officers’ Certificate given pursuant to Section 4.3 shall be
signed by the 

  

 3 

 
principal executive officer, principal financial officer or principal accounting officer of the Company but need not contain the information specified in
Sections 11.4 and 11.5. 
  
 “Opinion of Counsel”
means a written opinion containing the information specified in Sections 11.4 and 11.5, from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of, or counsel to, the Company. 
  
 “Person” means any individual, corporation, limited
liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, or government or any agency or political subdivision thereof. The term “Person” includes any syndicate or group which
would be deemed to be a “person” under Section 13(d)(3) under the Exchange Act. 
  
 “Public Acquirer Common Stock” has the meaning assigned to it in the definition of Public Acquirer Fundamental Change. 
  
 “Public Acquirer Fundamental Change” means any event constituting a Non-Stock Fundamental Change in which
the acquirer has a class of common stock traded on any U.S. national securities exchange or quoted on The Nasdaq National Market or which will be so traded or quoted when issued or exchanged in connection with such Fundamental Change (the
“Public Acquirer Common Stock”). If an acquirer does not itself have a class of common stock satisfying the foregoing requirement, it will be deemed to have Public Acquirer Common Stock if a corporation that directly or indirectly
is the Majority Owner of the acquirer has a class of common stock satisfying the foregoing requirement, provided that such corporation fully and unconditionally guarantees the securities; in such case, all references to Public Acquirer Common Stock
shall refer to such class of common stock. 
  
 “Purchase
Agreement” means the Purchase Agreement, dated April 13, 2005, among the Company and the Initial Purchasers. 
  
 “Redemption Date” or “redemption date” shall mean the date specified in a notice of redemption on which the Securities
may be redeemed in accordance with the terms of the Securities and this Indenture. 
  
 “Redemption Price” or “redemption price” shall have the meaning set forth in Section 5 of the Securities. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date hereof, among
the Company and the Initial Purchasers. 
  
 “Repurchase
Date” or “repurchase date” shall mean April 15, 2010, April 15, 2012, April 15, 2015 or April 15, 2020. 
  
 “Repurchase Price” or “repurchase price” shall have the meaning set forth in Section 3.7(a). 
  
 “Responsible Officer” shall mean, when used with respect to
the Trustee, any officer within the Corporate Trust Office of the Trustee or any other officer of the Trustee to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the 

  

 4 

 
particular subject and who shall have direct responsibility for the administration of this Indenture. 
  
 “Restricted Security” means a Security required to bear the
restrictive legend set forth in the form of Security set forth in Exhibits A and B of this Indenture. 
  
 “Rule 144A” means Rule 144A under the Securities Act (or any successor provision), as it may be amended from time to time. 
  
 “Sale Price” of a security on any date of determination
means: 
  
 (i) the closing sale price as reported
by The Nasdaq Stock Market, Inc.; 
  
 (ii) if
such security is not so reported on any such date, the closing sale price as reported in the composite transactions for the principal U.S. securities exchange on which such security is so listed; 
  
 (iii) if such security is not so reported, the average of
the mid-point of the last bid and ask prices for such security on such date from at least two dealers recognized as market-makers for such security selected by the Company for this purpose; or 
  
 (iv) if such security is not so quoted, the average of that
last bid and ask prices for such security on such date from a dealer engaged in the trading of convertible securities selected by the Company for this purpose. 
  

“SEC” means the Securities and Exchange Commission. 
  
 “Securities” has the meaning set forth in the Recitals. 
  
 “Securityholder” or “Holder” means a Person
in whose name a Security is registered on the Registrar’s books. 
  
 “Stated Maturity,” when used with respect to any Security, means April 15, 2025. 
  
 “Subsidiary” means any Person of which at least a majority of the outstanding Voting Stock shall at the time directly or indirectly be
owned or controlled by the Company or by one or more Subsidiaries or by the Company and one or more Subsidiaries. 
  
 “TIA” means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, provided, however, that in the
event the TIA is amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 
  
 “Trading Day” means a day during which trading in securities generally occurs on The Nasdaq Stock Market, Inc. or, if the Common Stock is
not quoted on The Nasdaq Stock Market, Inc., on the principal other national or regional securities exchange on which the Common Stock then is listed or, if the Common Stock is not traded on The Nasdaq Stock Market, Inc. or listed on a national or
regional securities exchange, on the principal other market on which the Common Stock is then traded or quoted. 
  

 5 

 “Trustee” means the party named as the “Trustee” in the first paragraph of
this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 

 
 “Voting Stock” of a Person means Capital Stock of such
Person of the class or classes pursuant to which the holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or
not at the time Capital Stock of any other class or classes shall have or might have voting power by reason of the happening of any contingency). 
  
 Section 1.2 Other Definitions. 
  

			
	 Term:

	  	Section in
which the term
is defined:

	 “110% Trading Price Exception”
	  	3.11(a)
	 “Act”
	  	1.5
	 “Additional Common Stock”
	  	9.1(b)
	 “Agent Members”
	  	2.12(e)
	 “Applicable Stock Price”
	  	9.13(b)(i)
	 “beneficial owner”
	  	3.11(a)
	 “Cash Amount”
	  	9.13(a)
	 “Common Stock Restrictive Legend”
	  	2.6(f)
	 “Continuing Director”
	  	3.11(a)
	 “Conversion Agent”
	  	2.3
	 “Conversion Obligation”
	  	9.13(a)
	 “Conversion Period”
	  	9.13(b)(ii)
	 “Conversion Retraction Period”
	  	9.13(a)
	 “Conversion Value”
	  	9.13(b)(iii)
	 “Current Market Price”
	  	9.3(g)
	 “Depositary”
	  	2.1(a)
	 “distributed assets”
	  	9.3(d)
	 “DTC”
	  	2.1(a)
	 “Effective Date”
	  	9.1(b)
	 “Event of Default”
	  	6.1
	 “Exchange Act”
	  	2.12(e)
	 “Expiration Time”
	  	9.3(f)
	 “Fair Market Value”
	  	9.3(g)
	 “Fundamental Change”
	  	3.11(a)
	 “Fundamental Change Purchase Date”
	  	3.11(a)
	 “Fundamental Change Purchase Notice”
	  	3.11(c)
	 “Fundamental Change Purchase Price”
	  	3.11(a)
	 “issuer tender offer”
	  	3.15
	 “Legal Holiday”
	  	11.8
	 “Legend”
	  	2.6(f)
	 “Non-Electing Share”
	  	9.4

  

 6 

			
	 Term:

	  	Section in
which the term
is defined:

	 “Non-Stock Fundamental Change”
	  	9.1(b)
	 “Notice of Default”
	  	6.1
	 “Paying Agent”
	  	2.3
	 “QIB”
	  	2.1(a)
	 “Record Date”
	  	9.3(h)
	 “Redemption Notice”
	  	3.3
	 “Reference Period”
	  	9.3(d)
	 “Registrar”
	  	2.3
	 “Rule 144A Information”
	  	4.6
	 “Securities Act”
	  	2.6(f)
	 “Settlement Notice Period”
	  	9.13(a)
	 “Spin-Off”
	  	9.3(d)
	 “Spin-Off Valuation Period”
	  	9.3(d)
	 “Stock Price”
	  	9.1(b)
	 “transfer”
	  	2.12(d)
	 “Trigger Event”
	  	9.3(d)

  
 Section 1.3
Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have
the following meanings: 
  
 “indenture
securities” means the Securities; 
  
 “indenture security holder” means a Securityholder; 
  
 “indenture to be qualified” means this Indenture; 
  
 “indenture trustee” or “institutional trustee” means the Trustee; and 
  
 “obligor” on the indenture securities means the
Company. 
  
 All other TIA terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
  
 Section 1.4 Rules of Construction. Unless the context otherwise requires: 
  
 (1) a term has the meaning assigned to it; 
  
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with U.S.
generally accepted accounting principles as in effect from time to time; 
  
 (3) “or” is not exclusive; 
  

 7 

 (4) “including” means including, without limitation; and 
  
 (5) words in the singular include the plural, and words in
the plural include the singular. 
  
 Section 1.5 Acts of
Holders. 
  
 (a) Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company, as
described in Section 11.2. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
  
 (b) The fact and date of the execution by any Person of any such instrument
or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing
acknowledged to such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such
signer’s authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
  
 (c) The principal amount and serial number of any Security and the ownership
of Securities shall be proved by the register for the Securities. 
  
 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 

 
 (e) If the Company shall solicit from the Holders any request, demand,
authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after
such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of outstanding Securities have authorized or
agreed or consented to such request, 

  

 8 

 
demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the outstanding Securities shall be computed as of such record
date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the
record date. 
  
 ARTICLE II. 
 THE SECURITIES 
  
 Section 2.1 Form and Dating. The Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibits A
and B, which are a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage (provided that any such notation, legend or endorsement required by usage is in a form acceptable to
the Company). The Company shall provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. 
  
 (a) 144A Global Securities. Securities offered and sold within the United States to qualified institutional buyers as
defined in Rule 144A (“QIBs”) in reliance on Rule 144A shall be issued initially in the form of a 144A Global Security, which shall be deposited with the Trustee, as custodian for the Depositary and registered in the name of The
Depository Trust Company (“DTC”) or the nominee thereof (DTC, or any successor thereto, and any such nominee being hereinafter referred to as the “Depositary”), duly executed by the Company and authenticated by the
Trustee as hereinafter provided. The aggregate principal amount of the 144A Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary as hereinafter provided. 

 
 (b) Global Securities in General. Each Global Security shall
represent such of the outstanding Securities as shall be specified therein and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding
Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, redemptions, repurchases and conversions. 
  
 Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the amount of outstanding
Securities represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof and shall be made on the records of the Trustee and the Depositary. 
  
 (c) Book-Entry Provisions. This Section 2.1(c) shall apply only to
Global Securities deposited with or on behalf of the Depositary. 
  
 The Company shall execute and the Trustee shall, in accordance with this Section 2.1(c), authenticate and deliver initially one or more Global Securities that (a) shall be registered in the name of the Depositary, (b) shall be delivered by
the Trustee to the Depositary or pursuant to the Depositary’s instructions and (c) shall be substantially in the form of Exhibit A attached hereto; 

  

 9 

 
provided that the Legend, as defined herein (other than the first and second paragraphs thereof), may be removed from such Global Security on
satisfaction of the conditions specified in this Indenture. 
  
 (d) Certificated Securities. Securities not issued as interests in the Global Securities will be issued in certificated form substantially in the form of Exhibit B attached hereto; provided that the Legend may be removed from
such Securities on satisfaction of the conditions specified in this Indenture. 
  
 Section 2.2 Execution and Authentication. The Securities shall be executed on behalf of the Company by any Officer. The signature of the Officer on the Securities may be manual or facsimile. Any seal of the
Company appearing on the Securities may be a raised seal or a facsimile. 
  
 Securities bearing the manual or facsimile signatures of individuals who were, at the time of the execution of the Securities, Officers shall bind the Company, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of authentication of such Securities. 
  
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there
appears on such Security a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized signatory, and such certificate upon any Security shall be conclusive evidence,
and the only evidence, that such Security has been duly authenticated and delivered hereunder. 
  
 The Trustee shall authenticate and deliver the Securities for original issue in an aggregate principal amount of $100,000,000 (or such greater amount necessary to reflect the exercise by the Initial Purchasers of
their option to purchase Additional Securities in compliance with the Purchase Agreement, but not in excess of $120,000,000) upon and pursuant to one or more Company Orders without any further action by the Company (including any action otherwise
contemplated in Section 11.4 and Section 11.5 hereof). The aggregate principal amount of the Securities due at the Stated Maturity thereof outstanding at any time may not exceed the amount set forth in the foregoing sentence except as provided in
Sections 2.7 and 2.14. 
  
 The Securities shall be issued only in
registered form without coupons and only in denominations of $1,000 of principal amount and any integral multiple of $1,000. 
  
 Section 2.3 Registrar, Paying Agent and Conversion Agent. The Company shall maintain an office or agency where Securities may be presented for
registration of transfer or for exchange (“Registrar”), an office or agency where Securities may be presented for purchase or payment (“Paying Agent”) and an office or agency where Securities may be presented for
conversion (“Conversion Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars, one or more additional paying agents and one or more
additional conversion agents. The term Paying Agent includes any additional paying agent, including any named pursuant to Section 4.5. The term 

  

 10 

 
Conversion Agent includes any additional conversion agent, including any named pursuant to Section 4.5. 
  
 The Company shall enter into an appropriate agency agreement with any
Registrar, Paying Agent, Conversion Agent or co-registrar (in each case, if such Registrar, agent or co-registrar is a Person other than the Trustee). The agreement shall implement the provisions of this Indenture that relate to such agent. The
Company shall notify the Trustee of the name and address of any such agent. If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor
pursuant to Section 7.7. The Company or any Subsidiary or an Affiliate of either of them may act as Paying Agent, Registrar, Conversion Agent or co-registrar. 
  

The Company initially appoints the Trustee as Registrar, Paying Agent and Conversion Agent in connection with the Securities. 
  
 Section 2.4 Paying Agent to Hold Money and Securities in Trust. Except
as otherwise provided herein, on or prior to 10:00 a.m., New York City time, on each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the
due date) sufficient to make such payments when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee
all money held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying
Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money so held in trust. If the Company, a Subsidiary or an Affiliate of either of them acts as Paying Agent, it shall segregate the money held by it as Paying
Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds and Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no
further liability for the money. 
  
 Section 2.5 Securityholder
Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the Registrar, the Company shall cause to be furnished
to the Trustee at least semiannually on April 1 and October 1 a listing of Securityholders dated within 15 days of the date on which the list is furnished and at such other times as the Trustee may request in writing a list in such form and as of
such date as the Trustee may reasonably require of the names and addresses of Securityholders. 
  
 Section 2.6 Transfer and Exchange. 
  
 (a) Subject to Section 2.12, upon surrender for registration of transfer of any Security, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Securityholder or such
Securityholder’s attorney duly authorized in writing, at the office or agency of the Company designated as Registrar or co-registrar pursuant to Section 2.3, the Company shall execute, and the Trustee shall authenticate and deliver, in the name
of the designated transferee or transferees, one or more new Securities of any authorized denomination 

  

 11 

 
or denominations, of a like aggregate principal amount. The Company shall not charge a service charge for any registration of transfer or exchange, but the
Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges that may be imposed in connection with the transfer or exchange of the Securities from the Securityholder requesting such transfer or
exchange. 
  
 Subject to Section 2.12, at the option of the
Holder, Securities may be exchanged for other Securities of any authorized denomination or denominations, of a like aggregate principal amount upon surrender of the Securities to be exchanged, together with a written instrument of transfer
satisfactory to the Registrar duly executed by the Securityholder or such Securityholder’s attorney duly authorized in writing, at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
  
 The Company shall not be required to make, and the Registrar need not register, transfers or exchanges of Securities selected for redemption in whole or
in part (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or any Securities in respect of which a Fundamental Change Purchase Notice has been given and not withdrawn by the Holder thereof in
accordance with the terms of this Indenture (except, in the case of Securities to be purchased in part, the portion thereof not to be purchased) or to issue any Securities, register the transfer of, or exchange any Securities for a period of 15 days
before the Redemption Date. 
  
 (b) Notwithstanding any provision
to the contrary herein, so long as a Global Security remains outstanding and is held by or on behalf of the Depositary, (i) transfers of beneficial interests in a Global Security, in whole or in part, may be effected only through a book entry system
maintained by the Holder of such Global Security (or its agent) in accordance with Applicable Procedures, (ii) ownership of a beneficial interest in the Security shall be required to be reflected in book entry and (iii) transfers of Global
Securities or beneficial interests in Global Securities shall be made only in accordance with Section 2.12 and this Section 2.6(b). Transfers of a Global Security shall be limited to transfers of such Global Security in whole or in part, to the
Depositary, to nominees of the Depositary or to a successor of the Depositary or such successor’s nominee. 
  
 (c) Successive registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired, and each such
registration shall be noted on the register for the Securities. 
  
 (d) Any Registrar appointed pursuant to Section 2.3 shall provide to the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities.

  
 (e) No Registrar shall be required to make registrations of
transfer or exchange of Securities during any periods designated in the text of the Securities or in this Indenture as periods during which such registration of transfers and exchanges need not be made. 
  

 12 

 (f) If Securities are issued upon the transfer, exchange or replacement of Securities subject to
restrictions on transfer and bearing the legends set forth on the forms of Security attached hereto as Exhibits A and B setting forth such restrictions (collectively, the “Legend”), or if a request is made to remove the Legend on a
Security, the Securities so issued shall bear the Legend, or the Legend shall not be removed, as the case may be, unless there is delivered to the Company and the Registrar (and to the Trustee, if the Trustee is not acting as Registrar) an opinion
of counsel addressed to the Company, the Registrar and/or the Trustee, in such form, as may be reasonably required by the Company, to the effect that neither the Legend nor the restrictions on transfer set forth therein are required to ensure that
transfers thereof comply with the provisions of Rule 144A or Rule 144 under the Securities Act of 1933, as amended (“Securities Act”), or that such Securities are not “restricted” within the meaning of Rule 144 under the
Securities Act. Upon (i) provision of such opinion of counsel, or (ii) notification by the Company to the Trustee and Registrar of the sale of such Security pursuant to a registration statement that is effective at the time of such sale, the
Trustee, at the written direction of the Company, shall authenticate and deliver a Security that does not bear the Legend. If the Legend is removed from the face of a Security and the Security is subsequently held by the Company or an Affiliate of
the Company, the Legend shall be reinstated. 
  
 In the event Rule
144(k) as promulgated under the Securities Act is amended to shorten the two-year period under Rule 144(k), then, the references in the Legend to “TWO YEARS,” and in the corresponding transfer restrictions described above, will be deemed
to refer to such shorter period, from and after receipt by the Trustee of an Officers’ Certificate and an Opinion of Counsel to that effect. As soon as practicable after the Company knows of the effectiveness of any such amendment to shorten
the two-year period under Rule 144(k), unless such changes would otherwise be prohibited by, or would cause a violation of, the federal securities laws applicable at the time, the Company will provide to the Trustee an Officers’ Certificate and
an Opinion of Counsel as to the effectiveness of such amendment and the effectiveness of such change to the restrictive legends and transfer restrictions. 
  
 Until the Legend on any Restricted Security has been removed in compliance with this Section 2.6(f), all shares of Common Stock (or other securities
issuable upon conversion as a result of the provisions of this Indenture) issued upon conversion of such Restricted Security shall bear a legend substantially in the form of the Legend (the “Common Stock Restrictive Legend”) and
shall be subject to the same restrictions on transfer as such Restricted Security. At any time following the time when the restrictions on transfer set forth in the Common Stock Restrictive Legend shall have expired in accordance with their terms or
shall have terminated under applicable law, the holder of such Common Stock may, upon a surrender of the certificate representing such Common Stock to the Company’s transfer agent in accordance with such agent’s customary procedures
(accompanied, in the event that such restrictions on transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial experience in practice under the Securities Act
and otherwise reasonably acceptable to the Company, addressed to the Company and in form acceptable to the Company, to the effect that the transfer of such Common Stock has been made in compliance with Rule 144 or such successor provision), may
receive a new certificate representing such Common Stock, in like amount, which shall not bear the Common Stock Restrictive Legend. 
  

 13 

 Section 2.7 Replacement Securities. If (a) any mutilated Security is surrendered to the Trustee,
or (b) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its written request the Trustee shall authenticate and deliver, in exchange
for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a certificate number not contemporaneously outstanding. 
  
 In case any such mutilated, destroyed, lost or stolen Security has become or
is about to become due and payable, or is about to be purchased by the Company pursuant to Article III hereof, the Company in its discretion may, instead of issuing a new Security, pay or purchase such Security, as the case may be. 
  
 Upon the issuance of any new Securities under this Section 2.7, the Company
may require an indemnity by the Holder of such mutilated, lost or stolen Security and the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Trustee) connected therewith. 
  
 Every new
Security issued pursuant to this Section 2.7 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be
at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 
  
 The provisions of this Section 2.7 are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  
 Section 2.8 Outstanding Securities; Determinations of Holders’ Action. Securities outstanding at any time are all the Securities authenticated by the Trustee except for those cancelled by it, those paid
pursuant to Section 2.7, those delivered to it for cancellation or surrendered for transfer or exchange and those described in this Section 2.8 as not outstanding. A Security does not cease to be outstanding because the Company or an Affiliate
thereof holds the Security; provided, however, that in determining whether the Holders of the requisite principal amount of Securities have given or concurred in any request, demand, authorization, direction, notice, consent, waiver, or other
Act hereunder, Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be outstanding, except that, in determining whether the Trustee
shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other Act, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Subject to
the foregoing, only Securities outstanding at the time of such determination shall be considered in any such determination (including, without limitation, determinations pursuant to Articles VI and VIII hereof). 
  

 14 

 If a Security is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee
receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
  
 If the Paying Agent holds, in accordance with this Indenture, on a Redemption Date, or on the Business Day following a Repurchase Date or a Fundamental Change Purchase Date, as the case may be, or on Stated Maturity,
money sufficient to pay Securities payable on that date, then immediately after such Redemption Date, Repurchase Date, Fundamental Change Purchase Date or Stated Maturity, as the case may be, such Securities shall cease to be outstanding and
interest, including Liquidated Damages, if any, on such Securities shall cease to accrue whether or not such Securities are delivered to the Paying Agent; provided, that if such Securities are to be redeemed, notice of such redemption has
been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made. 
  
 If a Security is converted in accordance with Article IX, then from and after the time of conversion on the date of conversion, such Security shall cease
to be outstanding and interest, including Liquidated Damages, if any, shall cease to accrue on such Security. 
  
 Section 2.9 Temporary Securities. Pending the preparation of definitive Securities, the Company may execute, and upon Company Order the Trustee
shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. 
  
 If temporary Securities are issued, the Company will cause definitive
Securities to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the
Company designated for such purpose pursuant to Section 2.3, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of authorized denominations. Until so exchanged, the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
  
 Section 2.10 Cancellation. If the Company shall acquire any of the
Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless the same are delivered to the Trustee for cancellation. All Securities surrendered for payment, purchase by the
Company pursuant to Article III, conversion, redemption or registration of transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any
time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee.
The Company may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article IX. No Securities shall be authenticated in 

  

 15 

 
lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities
held by the Trustee shall be disposed of by the Trustee in accordance with the Trustee’s customary procedure. 
  
 Section 2.11 Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of
the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of the Security or the payment of any Redemption Price, Repurchase Price or
Fundamental Change Purchase Price in respect thereof, and interest thereon, for the purpose of conversion and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the
Company or the Trustee shall be affected by notice to the contrary. 
  
 Section 2.12 Global Securities. 
  
 (a)
Notwithstanding any other provisions of this Indenture or the Securities, (A) transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.6 and Section 2.12(a)(i), (B) transfers or exchanges of a beneficial
interest in a Global Security for an interest in the same or another Global Security shall comply with Section 2.6 and Section 2.12(a)(ii) below, (C) transfers or exchanges of a beneficial interest in a Global Security for a Certificated Security
shall comply with Section 2.6, Section 2.12(a)(iii) below and Section 2.12(e)(1) below, and (D) transfers or exchanges of a Certificated Security shall comply with Section 2.6 and Sections 2.12(a)(iv) and (a)(v) below. 
  
 (i) Transfer of Global Security. A Global Security
may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be registered; provided that this clause (i) shall not prohibit any
transfer of a Certificated Security that is issued in exchange for a Global Security. No transfer of a Global Security to any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the
name of such Person. Nothing in this Section 2.12(a)(i) shall prohibit or render ineffective any transfer of a beneficial interest in a Global Security effected in accordance with the other provisions of this Section 2.12. 
  
 (ii) Transfer or Exchange of a Beneficial Interest in a
Global Security for a Beneficial Interest in the Same or Another Global Security. 
  
 (A) A beneficial interest in a Global Security may not be transferred or exchanged for a beneficial interest in another Global Security
except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a request to transfer or exchange a beneficial interest in a Global Security in accordance with Applicable Procedures for a beneficial interest in another
Global Security, together with: 
  
 (1) so long
as the Securities are Restricted Securities, certification substantially in the form set forth in Exhibit C; 
  
 (2) written instructions (in such form as is reasonably acceptable to the Trustee and in accordance with Applicable Procedures) to the
Trustee to make, or direct the Registrar to make, in the case of a transfer or exchange of a beneficial interest in a Global 

  

 16 

 
Security for a beneficial interest in another Global Security, an adjustment on its books and records with respect to such Global Securities to reflect a
decrease and increase in the aggregate principal amount of the Securities represented by such Global Securities, such instructions to contain information regarding the Depositary accounts to be debited or credited with such decrease and increase or
otherwise be in accordance with Applicable Procedures; and 
  
 (3) if the Company or the Trustee so requests, an Opinion of Counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the Legend, 
  
 then the Trustee, (1) shall cause, or direct the Registrar to cause, in accordance with the
standing instructions and procedures existing between the Depositary and the Registrar, the aggregate principal amount of the Securities represented by the appropriate Global Security to be decreased by the aggregate principal amount that the other
Global Security is increased and (2) in accordance with the standing instructions and procedures existing between the Depositary and the Registrar and Applicable Procedures, shall debit and credit or cause to be debited or credited, as appropriate,
to the accounts of the persons specified in such instructions a beneficial interest in the Global Security or Global Securities, as appropriate, equal to the amount of the beneficial interests so transferred or exchanged. 
  
 (B) Beneficial interests in a Global Security may be
transferred to Persons who take delivery in the same Global Security in accordance with the Applicable Procedures and, if the Global Security is a Restricted Security, in accordance with the transfer restrictions set forth in the Legend. No written
orders or instructions shall be required to be delivered to the Registrar or the Trustee to effect the transactions described in this Section 2.12(a)(ii)(B). 
  

(C) Other than transfers to the Company or to an Affiliate of the Company, beneficial interests in a Global Security that is not a
Restricted Security may not be transferred to a Person who takes delivery thereof in the form of a beneficial interest in a Global Security that is a Restricted Security. 
  
 (iii) Transfer or Exchange of a Beneficial Interest in a Global Security for a Certificated Security.
A beneficial interest in a Global Security may not be exchanged for a Certificated Security except upon satisfaction of the requirements set forth below and in Section 2.12(e)(1) below. Upon receipt by the Trustee of a transfer request of a
beneficial interest in a Global Security in accordance with Applicable Procedures for a Certificated Security in the form satisfactory to the Trustee, together with: 
  
 (A) so long as the Securities are Restricted Securities, certification in the form set forth in Exhibit C;

  
 (B) written instructions (in such form as is
reasonably acceptable to the Trustee and in accordance with Applicable Procedures) to the Trustee to make, or direct the Registrar to make, an adjustment on its books and records with respect to such Global Security to reflect a decrease in the
aggregate principal amount of the Securities represented by the Global Security, such instructions to contain information regarding the Depositary account to be debited with such decrease or otherwise be in accordance with Applicable Procedures; and

  

 17 

 (C) if the Company or the Trustee so requests, an Opinion of Counsel or other evidence
reasonably satisfactory to it as to the compliance with the restrictions set forth in the Legend, 
  
 then the Trustee shall cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Registrar, the aggregate principal amount of the
Securities represented by the Global Security to be decreased by the aggregate principal amount of the Certificated Security to be issued, shall issue such Certificated Security and shall debit or cause to be debited to the account of the person
specified in such instructions a beneficial interest in the Global Security equal to the principal amount of the Certificated Security so issued. 
  
 (iv) Transfer and Exchange of Certificated Securities. When Certificated Securities are presented to the Registrar with a request:

  
 (A) to register the transfer of such
Certificated Securities; or 
  
 (B) to exchange
such Certificated Securities for an equal principal amount of Certificated Securities of other authorized denominations, 
  
 the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however,
that the Certificated Securities surrendered for transfer or exchange: 
  
 (1) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly executed by the Holder thereof or his attorney duly authorized in
writing; and 
  
 (2) so long as such Securities
are Restricted Securities, such Securities are being transferred or exchanged pursuant to an effective registration statement under the Securities Act or pursuant to clause (x), (y) or (z) below, and are accompanied by the following additional
information and documents, as applicable: 
  
 (x) if such Certificated Securities are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or 
  
 (y) if such Certificated Securities are being transferred
to the Company, a certification to that effect; or 
  
 (z) if such Certificated Securities are being transferred pursuant to an exemption from registration, (i) a certification to that effect (substantially in the form set forth in Exhibit C, if applicable) and (ii) if the Company so requests,
an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the Legend. 
  

 18 

 (v) Transfer of a Certificated Security for a Beneficial Interest in a Global
Security. A Certificated Security may not be exchanged for a beneficial interest in a Global Security except upon satisfaction of the requirements set forth below. 
  
 Upon receipt by the Trustee of a Certificated Security, duly endorsed or accompanied by appropriate instruments of transfer,
in form satisfactory to the Trustee, together with: 
  
 (A) so long as the Securities are Restricted Securities, certification, in the form set forth in Exhibit C, that such Certificated Security is being transferred to a QIB in accordance with Rule 144A; and 
  
 (B) written instructions (in such form as is reasonably
acceptable to the Trustee and in accordance with Applicable Procedures) directing the Trustee to make, or to direct the Registrar to make, an adjustment on its books and records with respect to such Global Security to reflect an increase in the
aggregate principal amount of the Securities represented by the Global Security, such instructions to contain information regarding the Depositary account to be credited with such increase or otherwise be in accordance with Applicable Procedures,
then the Trustee shall cancel such Certificated Security and cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Registrar, the aggregate principal amount of
Securities represented by the Global Security to be increased by the aggregate principal amount of the Certificated Security to be exchanged, and shall credit or cause to be credited to the account of the Person specified in such instructions a
beneficial interest in the Global Security equal to the principal amount of the Certificated Security so cancelled. If no Global Securities are then outstanding, the Company shall issue and the Trustee shall authenticate, upon written order of the
Company in the form of an Officers’ Certificate, a new Global Security in the appropriate principal amount. 
  
 (b) Subject to the succeeding Section (c), every Security shall be subject to the restrictions on transfer provided in the Legend and herein including the
delivery of an opinion of counsel, if so provided. Whenever any Restricted Security is presented or surrendered for transfer or for exchange, such Security must be accompanied by a certificate in substantially the form set forth in Exhibit C, dated
the date of such surrender and signed by the Holder of such Security, as to compliance with such restrictions on transfer. The Registrar shall not be required to accept for such transfer or exchange any Security not so accompanied by a properly
completed certificate. 
  
 (c) The restrictions imposed by the
Legend upon the transferability of any Security shall cease and terminate when such Security has been sold pursuant to an effective registration statement under the Securities Act or transferred in compliance with Rule 144 under the Securities Act
(or any successor provision thereto) or, if earlier, upon the expiration of the holding period applicable to sales thereof under Rule 144(k) under the Securities Act (or any successor provision). Any Security as to which such restrictions on
transfer shall have expired in accordance with their terms or shall have terminated may, upon a surrender of such Security for exchange to the Registrar in accordance with the provisions of this Section 2.12 (accompanied, in the event that such
restrictions on transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial experience in practice under the Securities Act and otherwise reasonably acceptable

  

 19 

 
to the Company, addressed and delivered to the Company and the Trustee, and in form acceptable to the Company, to the effect that the transfer of such
Security has been made in compliance with Rule 144 or such successor provision), be exchanged for a new Security, of like tenor and aggregate principal amount, which shall not bear the restrictive Legend. The Company shall inform the Trustee in
writing of the effective date of any registration statement registering the Securities under the Securities Act. The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the aforementioned
opinion of counsel or registration statement. 
  
 (d) As used in
the preceding two paragraphs of this Section 2.12, the term “transfer” encompasses any sale, pledge, transfer, loan, hypothecation or other disposition of any interest in any Security. 
  
 (e) The provisions of clauses (1), (2), (3), (4) and (5) below shall apply
only to Global Securities: 
  
 (1)
Notwithstanding any other provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered in the name of any Person other than the Depositary or one or more nominees thereof,
provided that a Global Security may be exchanged for Securities registered in the names of any Person designated by the Depositary in the event that (i) the Depositary has notified the Company that it is unwilling or unable to continue as
Depositary for such Global Security or such Depositary has ceased to be a “clearing agency” registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and a successor Depositary is not appointed
by the Company within 90 days or (ii) the Company elects to discontinue use of the system of book entry transfer through DTC (or any successor Depositary). Any Global Security exchanged pursuant to clause (i) above shall be so exchanged in whole and
not in part, and any Global Security exchanged pursuant to clause (ii) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be
a Global Security; provided that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security. 
  
 (2) Securities issued in exchange for a Global Security or
any portion thereof shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such
names and be in such authorized denominations as the Depositary shall designate and shall bear the applicable legends provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as
Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security,
the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Issuer shall execute
and the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof. 
  

 20 

 (3) Subject to the provisions of clause (5) below, the registered Holder may grant
proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a holder is entitled to take under this Indenture or the Securities. 
  
 (4) In the event of the occurrence of any of the events
specified in clause (1) above, the Company will promptly make available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons. 
  
 (5) Neither any members of, or participants in, the
Depositary (collectively, the “Agent Members”) nor any other Persons on whose behalf Agent Members may act shall have any rights under this Indenture with respect to any Global Security registered in the name of the Depositary or
any nominee thereof, or under any such Global Security, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global
Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of customary practices of such Persons governing the
exercise of the rights of a holder of any Security. 
  
 (f) By its
acceptance of any Security bearing the Legend, each Holder of such Security acknowledges the restrictions on transfer of such Security set forth in this Indenture and agrees that it will transfer such Security only as provided in this Indenture.

  
 (g) Notwithstanding any terms herein contained to the
contrary, neither the Trustee nor the Registrar shall be responsible for determining whether any transfer complies with the registration provisions of or exemptions from the Securities Act, or any other state or federal securities laws that may be
applicable; provided, however, that if a certificate or opinion is specifically required by the express terms of this 2.12 to be delivered to the Trustee or the Registrar prior to registration or a transfer, the Trustee or the Registrar, as
the case may be shall be under a duty to receive the same, and to examine it to determine whether it confirms on its face with the applicable requirements of this Section 2.12. 
  
 Section 2.13 CUSIP Numbers. The Company may issue the Securities with one or more “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to 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 Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Company will promptly notify the Trustee of any change in the CUSIP numbers. 
  
 Section 2.14 Additional Securities. The Company may, from time to time, subject to compliance with any other applicable provisions of this
Indenture, without the consent of the Holders, create and issue pursuant to this Indenture additional securities (“Additional  

  

 21 

 
Securities”) having terms and conditions set forth in Exhibit A identical to those of the other outstanding Securities, except that
Additional Securities: 
  
 (i) may have a
different issue price than other outstanding Securities; 
  
 (ii) may have a different issue date from other outstanding Securities; 
  
 (iii) may have a different amount of interest payable on the first interest payment date after issuance than is payable on other
outstanding Securities; 
  
 (iv) may have terms
specified in the Additional Securities Board Resolution or Additional Securities Supplemental Indenture for such Additional Securities making appropriate adjustments to this Article II and Exhibit A (and related definitions) applicable to such
Additional Securities in order to conform to and ensure compliance with the Securities Act (or other applicable securities laws) and any registration rights or similar agreement applicable to such Additional Securities, which are not adverse in any
material respect to the Holder of any outstanding Securities (other than such Additional Securities); and 
  
 (v) may be entitled to Liquidated Damages as provided in Section 2.15 not applicable to other outstanding Securities and may not be
entitled to such Liquidated Damages applicable to other outstanding Securities; 
  
 provided, that no adjustment pursuant to this Section 2.14 shall cause such Additional Securities to constitute, as determined pursuant to an Opinion of Counsel, a different class of securities than the Securities issued on the Issue
Date for U.S. federal income tax purposes and provided further, that the Additional Securities have the same CUSIP number as other outstanding Securities pending performance by the Company of its obligations under a registration rights
agreement applicable thereto. No Additional Securities may be issued if any Event of Default has occurred. 
  
 Section 2.15 Liquidated Damages Under the Registration Rights Agreement. Under certain circumstances, the Company may be obligated to pay
Liquidated Damages to Holders, all as and to the extent set forth in the Registration Rights Agreement. The terms of the Registration Rights Agreement obligating the Company to pay such Liquidated Damagers are hereby incorporated herein by reference
and such Liquidated Damages are deemed to be interest for purposes of this Indenture. 
  
 ARTICLE III. 
 REDEMPTION AND PURCHASES 
  
 Section 3.1 Company’s Right to Redeem; Notices to Trustee. Prior
to April 18, 2010, the Securities will not be redeemable at the Company’s option. Beginning on April 18, 2010, the Company, at its option, may redeem the Securities, subject to and in accordance with the terms and conditions of Section 3.1
through 3.6 hereof, for cash, as a whole or in part, at a redemption price equal to the principal amount of those Securities. In addition, the Company will pay any accrued and unpaid interest, including Liquidated Damages, if any, on those
Securities (including Securities which are converted into Common Stock under the circumstances specified 

  

 22 

 
in Section 9.9) to but excluding the Redemption Date. If the Company elects to redeem Securities, it shall notify the Trustee in writing of the Redemption
Date, the principal amount of Securities to be redeemed and the Redemption Price. 
  
 The Company shall give the notice to the Trustee of its intention to exercise its right to redeem the Securities as provided for in this Section 3.1 by a Company Order at least ten (10) Business Days prior to the day
the Redemption Notice pursuant to Section 3.3. is to be mailed to the Holders. 
  
 Section 3.2 Selection of Securities to Be Redeemed. If less than all the Securities are to be redeemed, unless the procedures of the Depositary provide otherwise, the Trustee shall select the Securities to be
redeemed by lot, on a pro rata basis or by another method the Trustee considers fair and appropriate (so long as such method is not prohibited by the rules of any stock exchange on which the Securities are then listed). The Trustee shall make the
selection by or before the date when notice of such redemption is required to be mailed to Holders pursuant to Section 3.3 from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the
principal amount of Securities that have denominations larger than $1,000. 
  
 Securities and portions of Securities that the Trustee selects shall be in principal amounts of $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to Securities called for redemption
also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of the Securities to be redeemed. 
  
 Securities and portions of Securities that are to be redeemed are convertible by the Holder until the close of business on
the Business Day prior to the Redemption Date unless the Company fails to pay the Redemption Price on the Redemption Date. If any Security selected for partial redemption is converted in part before termination of the conversion right with respect
to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of Securities to be redeemed may
be treated by the Trustee as outstanding for the purpose of such selection. 
  
 Section 3.3 Notice of Redemption. At least 30 days but not more than 60 days before a Redemption Date, the Company shall mail a notice of redemption (the “Redemption Notice”) by first-class
mail, postage prepaid, to each Holder of Securities to be redeemed. 
  
 The notice shall identify the Securities to be redeemed and shall state: 
  
 (1) the Redemption Date; 
  
 (2) the Redemption Price; 
  
 (3) the Conversion Rate; 
  
 (4) the name and address of the Paying Agent and Conversion Agent; 
  

 23 

 (5) that Securities called for redemption may be converted at any time before the close
of business on the Business Day prior to the Redemption Date; 
  
 (6) that Holders who wish to convert their Securities must satisfy the requirements set forth in Article IX hereof; 
  
 (7) that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price; 
  
 (8) if fewer than all of the outstanding Securities are to
be redeemed, the certificate numbers, if any, and principal amounts of the particular Securities to be redeemed; 
  
 (9) that, unless the Company defaults in making payment of such Redemption Price, interest, including Liquidated Damages, if any, on
Securities called for redemption will cease to accrue on and after the Redemption Date; 
  
 (10) whether the Company has elected to settle its obligation upon conversion in cash or a combination of cash and Common Stock, and, in
the event that the Company has elected to deliver all or a portion of its Conversion Obligation in cash, the date on which the Conversion Period will begin; 
  
 (11) the CUSIP number(s) of the Securities; and 
  

(12) any other information the Company wants to present. 
  
 At the Company’s written request, the Trustee shall give the notice of redemption in the Company’s name and at the
Company’s expense, provided that the Company makes such request at least ten Business Days prior to the date by which such notice of redemption is to be given to Holders in accordance with this Section 3.3, unless the Trustee agrees to a
shorter period. 
  
 Section 3.4 Effect of Notice of
Redemption. Once notice of redemption is given, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice except for Securities which are converted in accordance with the
terms of this Indenture. Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption Price stated in the notice. 
  
 Section 3.5 Deposit of Redemption Price. Prior to 10:00 a.m., New York City time, on the Redemption Date, the Company shall deposit with the Paying
Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the applicable Redemption Price of all Securities to be redeemed on that date other than
Securities or portions of Securities called for redemption which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to the Company
any money not required for that purpose because of conversion of Securities pursuant to Article IX. If such money is then held by the Company in trust and is not required for such purpose, it shall be discharged from such trust. 
  

 24 

 Section 3.6 Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part,
the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Security in an authorized denomination equal in principal amount to the unredeemed portion of the Security surrendered. 
  
 Section 3.7 Repurchase of Securities at Option of the Holder.

  
 (a) Securities shall be purchased by the Company, subject to
and in accordance with the terms and conditions of this Section 3.7, for cash, as a whole or in part, at the option of the Holder on April 15, 2010, April 15, 2012, April 15, 2015 and April 15, 2020 (each, a “Repurchase Date”), at a
purchase price equal to the principal amount of those Securities (the “Repurchase Price”). In addition, the Company will pay any accrued and unpaid interest, including Liquidated Damages, if any, on those Securities (including
Securities which are converted into Common Stock under the circumstances specified in Section 9.9) to, but excluding, the Redemption Date. Repurchases of Securities under this Section 3.7 shall be made, at the option of the Holder thereof, upon:

  
 (1) delivery to the Paying Agent by a Holder
of a written notice (a “Repurchase Notice”) during the period beginning at any time from 9:00 a.m., New York City time, on the date that is 20 Business Days prior to the applicable Repurchase Date until 5:00 p.m., New York City
time, on the Business Day preceding the applicable Repurchase Date stating: 
  
 (A) the certificate numbers of the Securities which the Holder will deliver to be purchased, if applicable, 
  
 (B) the portion of the principal amount of the Securities which the Holder will deliver to be purchased, which portion must be a principal
amount of $1,000 or an integral multiple thereof, and 
  
 (C) that such Security shall be purchased as of the Repurchase Date pursuant to the terms and conditions specified in this Indenture; 
  
 (2) delivery or book-entry transfer of the Securities to the Paying Agent at any time after delivery of the applicable Repurchase Notice
(together with all necessary endorsements) at the office of the Paying Agent, such delivery being a condition to receipt by the Holder of the Repurchase Price therefor; provided that such Repurchase Price shall be so paid pursuant to this
Section 3.7 only if the Security so delivered to the Paying Agent shall conform in all material respects to the description thereof in the related Repurchase Notice. 
  
 The Company shall purchase from the Holder thereof, pursuant to this Section 3.7, a portion of a Security, if the principal
amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security. 
  
 Any purchase by the Company contemplated pursuant to the provisions of this
Section 3.7 shall be consummated by the delivery of the consideration to be received by the Holder 

  

 25 

 
promptly following the later of the Repurchase Date and the time of the book-entry transfer or delivery of the Security. 
  
 Notwithstanding anything herein to the contrary, any Holder delivering to the
Paying Agent the Repurchase Notice contemplated by this Section 3.7 shall have the right to withdraw such Repurchase Notice at any time prior to 5:00 p.m., New York City time, on the Business Day preceding the applicable Repurchase Date by delivery
of a written notice of withdrawal to the Paying Agent in accordance with Section 3.8. 
  
 The Paying Agent shall promptly notify the Company of the receipt by it of any Repurchase Notice or written notice of withdrawal thereof. 
  
 Section 3.8 Effect of Repurchase Notice. Upon receipt by the Paying Agent of the Repurchase Notice specified in
Section 3.7, the Holder of the Security in respect of which such Repurchase Notice was given shall (unless such Repurchase Notice is validly withdrawn) thereafter be entitled to receive solely the Repurchase Price with respect to such Security. Such
Repurchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent, promptly following the later of (x) the Repurchase Date with respect to such Note (provided the Holder has satisfied the conditions in Section 3.7) and
(y) the time of delivery of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.7. Securities in respect of which a Repurchase Notice has been given by the Holder thereof may not be converted pursuant to
Article IX hereof on or after the date of the delivery of such Repurchase Notice unless such Repurchase Notice has first been validly withdrawn. 
  
 A Repurchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the
Repurchase Notice at any time prior to the close of business on the Repurchase Date, specifying: 
  
 (1) the certificate number, if any, of the Security in respect of which such notice of withdrawal is being submitted, or the appropriate
Depositary information if the Security in respect of which such notice of withdrawal is being submitted is represented by a Global Security, 
  
 (2) the principal amount of the Security with respect to which such notice of withdrawal is being submitted, and 
  
 (3) the principal amount, if any, of such Security which
remains subject to the original Repurchase Notice and which has been or will be delivered for purchase by the Company. 
  
 Section 3.9 Deposit of Repurchase Price. Prior to 10:00 a.m., New York City time on the Business Day following the Repurchase Date, the Company
shall deposit with the Paying Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the applicable Repurchase Price of all the Securities or
portions of Securities thereof that are to be purchased as of the Repurchase Date. If the Paying Agent holds funds sufficient to pay the aggregate Repurchase Price for all Securities or portions thereof that are to be repurchased as of the
Repurchase Date, such Securities will cease to be outstanding and interest will cease to accrue thereon as of the 

  

 26 

 
applicable Repurchase Date whether or not book entry of the Securities has been made or the Securities have been delivered to the Paying Agent. 

 
 Section 3.10 Securities Repurchased in Part. Upon surrender of a
Security that is repurchased in part, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Security in an authorized denomination equal in principal amount to the unrepurchased portion of the Security
surrendered. 
  
 Section 3.11 Purchase of Securities at Option
of the Holder upon Fundamental Change. 
  
 (a) (1) If a
Fundamental Change occurs at any time prior to the Stated Maturity (subject to certain exceptions set forth below), each Holder of Securities not previously purchased or redeemed by the Company shall have the right, at such Holder’s option, to
require the Company to redeem all of such Holder’s Securities for cash or any portion thereof that is a multiple of $1,000, at a purchase price equal to the principal amount of these Securities (the “Fundamental Change Purchase
Price”), as of the date, as determined by the Company, that is between 30 and 60 days after the date of a notice of Fundamental Change delivered by the Company pursuant to Section 3.11(b) (the “Fundamental Change Purchase
Date”), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 3.11(c). 
  
 A “Fundamental Change” will be deemed to have occurred at such time after the Securities are originally issued when any of the following events
shall occur: 
  
 (i) the acquisition by any
Person, directly or indirectly, through a purchase, merger or other acquisition transaction, or series of purchases, mergers or other acquisition transactions, of shares of the Capital Stock of the Company entitling that Person to exercise 50% or
more of the total voting power of all shares of the Capital Stock of the Company entitled to vote generally in elections of directors, other than any acquisition by the Company, any of its subsidiaries or any of its employee benefit plans; or

  
 (ii) the first day on which a majority of the
members of the Board of Directors of the Company does not consist of Continuing Directors; or 
  
 (iii) the Company consolidates or merges with or into any other Person, any merger of another Person into the Company, or any conveyance,
transfer, sale, lease or other disposition of all or substantially all of the Company’s properties and assets to another Person, other than: (A) any transaction: (1) that does not result in any reclassification, conversion, exchange or
cancellation of outstanding shares of Capital Stock of the Company; and (2) pursuant to which the holders of 50% or more of the total voting power of all shares of Capital Stock of the Company entitled to vote generally in elections of directors
immediately prior to the transaction have the right to exercise, directly or indirectly, 50% or more of the total voting power of all shares of Capital Stock of the Company entitled to vote generally in elections of directors of the continuing or
surviving Person immediately after giving effect to such transaction; or (B) any merger primarily for the purpose of changing the Company’s jurisdiction of incorporation and resulting in a reclassification, conversion or exchange of outstanding
shares of Common Stock, solely into shares of common stock of the surviving entity, or 
  

 27 

 (iv) the termination of trading of the Common Stock, which shall be deemed to have
occurred if the Common Stock or other common stock into which the Securities are convertible is neither listed for trading on a United States national securities exchange nor approved for listing on The Nasdaq National Market or any similar United
States system of automated dissemination of quotations of securities prices or traded in over-the-counter securities markets, and no American Depositary Shares or similar instruments for such common stock are so listed or approved for listing in the
United States. 
  
 A “Continuing Director” shall mean,
as of any date of determination, any member of the Board of Directors who: 
  
 (i) was a member of the Board of Directors of the Company on the date hereof; or 
  
 (ii) was nominated for election, appointed or elected to the Board of Directors with the approval of a majority of the Continuing
Directors who were members of the Board of Directors at the time of the new director’s nomination, appointment or election, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the Company’s
entire Board of Directors in which such individual is named as a nominee for director. 
  
 (2) Notwithstanding the provisions of Section 3.11(a)(1), the Company shall not be required to purchase the Securities of the Holders upon
a Fundamental Change pursuant to this Section 3.11 (and a Fundamental Change shall be deemed not to have occurred) if: 
  
 (i) the Sale Price per share of Common Stock for any five Trading Days within (1) the period of 10 consecutive Trading Days ending
immediately after the later of the Fundamental Change or the public announcement of the Fundamental Change, in the case of a Fundamental Change under clause (i) or (ii) of the definition of “Fundamental Change” above, or (2) the period of
10 consecutive Trading Days ending immediately before the Fundamental Change, in the case of a Fundamental Change under clause (iii) of the definition of “Fundamental Change” above, equals or exceeds 110% of the Conversion Price of the
Securities in effect on each of those five Trading Days (the “110% Trading Price Exception”); or 
  
 (ii) more than 90% of the consideration in the transaction or transactions (other than cash payments for fractional shares and cash
payments made in respect of dissenters’ appraisal rights) which otherwise would constitute a Fundamental Change under clause (i), (ii) or (iii) above consists of shares of common stock, depositary receipts or other certificates representing
common equity interests traded or to be traded immediately following such transaction on a national securities exchange or quoted on The Nasdaq National Market, and, as a result of the transaction or transactions, the Securities become convertible
solely into such common stock (other than cash paid in lieu of fractional shares), depositary receipts or other certificates representing common equity interests (and any rights attached thereto). 
  
 For the purposes of this Section 3.11, (x) whether a Person is a “beneficial owner”
shall be determined in accordance with Rule 13d-3 and Rule 13d-5 under the Exchange Act (except that any of those Persons shall be deemed to have beneficial ownership of all securities it has the 

  

 28 

 
right to acquire, whether the right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition) and (y) the term
“Person” includes any syndicate or group that would be deemed to be a “person” under Section 13(d)(3) of the Exchange Act. 
  
 (b) No later than 15 days after the occurrence of a Fundamental Change, the Company shall mail a written notice of the Fundamental Change by first class
mail to the Trustee and to each Holder (and to beneficial owners as required by applicable law). The notice shall include a form of Fundamental Change Purchase Notice to be completed by the Holder and shall state: 
  
 (1) briefly, the events causing a Fundamental Change and the
date of such Fundamental Change; 
  
 (2) the date
by which the Fundamental Change Purchase Notice, as defined herein, pursuant to this Section 3.11 must be delivered to the Paying Agent in order for a Holder to exercise the repurchase rights; 
  
 (3) the Fundamental Change Purchase Date; 
  
 (4) the Fundamental Change Purchase Price; 
  
 (5) the name and address of the Paying Agent and the
Conversion Agent; 
  
 (6) the Conversion Rate and
any adjustments thereto; 
  
 (7) that the
Securities as to which a Fundamental Change Purchase Notice has been given may be converted pursuant to Article IX hereof only if the Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this Indenture; 

 
 (8) that the Securities must be surrendered to the Paying
Agent to collect payment; 
  
 (9) that the
Fundamental Change Purchase Price for any Security as to which a Fundamental Change Purchase Notice has been duly given and not withdrawn will be paid promptly following the later of the Fundamental Change Purchase Date and the time of surrender of
such Security as described in clause (8) above; 
  
 (10) briefly, the procedures the Holder must follow to exercise rights under this Section 3.11; 
  
 (11) briefly, the conversion rights of the Securities; 
  
 (12) the procedures for withdrawing a Fundamental Change Purchase Notice; 
  
 (13) that, unless the Company defaults in making payment of
such Fundamental Change Purchase Price, interest, including Liquidated Damages, if any, on Securities surrendered for purchase by the Company will cease to accrue on and after the Fundamental Change Purchase Date; 
  

 29 

 (14) the CUSIP number(s) of the Securities; and 
  
 (15) any other information the Company wants to present.

  
 Without otherwise limiting the Company’s obligations
pursuant to this Section 3.11 in any way, the Company shall also issue a press release through Dow Jones & Company, Inc. containing the relevant information and otherwise make this information available on the Company’s web site or through
another public medium as the Company may use at that time. 
  
 (c)
A Holder may exercise its rights specified in Section 3.11(a) upon delivery of a written notice of purchase (a “Fundamental Change Purchase Notice”) to the Paying Agent at any time on or prior to the close of business on the second
Business Day preceding the Fundamental Change Purchase Date (unless the Company shall specify a later date), specifying: 
  
 (1) the certificate number of the Security, if certificated, which the Holder will deliver to be purchased or, if not certificated, the
notice must comply with the appropriate Depositary procedures; 
  
 (2) the portion of the principal amount of the Security which the Holder will deliver to be purchased, which portion must be $1,000 or an integral multiple of $1,000; and 
  
 (3) that such Security shall be purchased pursuant to the
terms and conditions specified in this Indenture. 
  
 The delivery
of such Security to the Paying Agent with the Fundamental Change Purchase Notice (together with all necessary endorsements) at the offices of the Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Purchase Price
therefor; provided, however, that such Fundamental Change Purchase Price shall be so paid pursuant to this Section 3.11 and Section 3.12 only if the Security so delivered to the Paying Agent shall conform in all respects to the
description thereof set forth in the related Fundamental Change Purchase Notice. 
  
 The Company shall purchase from the Holder thereof, pursuant to this Section 3.11 and Section 3.12, a portion of a Security if the principal amount of such portion is $1,000 or an integral multiple of $1,000.
Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security. 
  
 Any purchase by the Company contemplated pursuant to the provisions of this Section 3.11 and Section 3.12 shall be consummated by the delivery of the
consideration to be received by the Holder. 
  
 Notwithstanding
anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 3.11(c) shall have the right to withdraw such Fundamental Change Purchase Notice, in whole or in part, at
any time prior to the close of business on the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.12. 
  

 30 

 The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change
Purchase Notice or written withdrawal thereof. 
  
 (d) The Trustee
shall be entitled to rely conclusively on any notice of Fundamental Change it may receive pursuant to Section 3.11(b), and in the absence of its receipt of any such notice it shall be entitled to assume without inquiry that no Fundamental Change has
occurred. The Trustee shall not be under any duty independently to determine, verify or monitor the Sale Price or any Fundamental Change Purchase Price. 
  
 Section 3.12 Effect of Fundamental Change Purchase Notice; Withdrawal. Upon receipt by the Paying Agent of the Fundamental Change Purchase Notice
specified in Section 3.11(c), the Holder of the Security in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn as specified in the following two paragraphs)
thereafter be entitled to receive solely the Fundamental Change Purchase Price with respect to such Security. Such Fundamental Change Purchase Price shall be paid to such Holder, subject to the receipt of funds by the Paying Agent, promptly
following the later of (x) the Fundamental Change Purchase Date with respect to such Security (provided the conditions in Section 3.11(c) have been satisfied) and (y) the time of delivery of such Security to the Paying Agent by the Holder thereof in
the manner required by Section 3.11(c). Securities in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not be converted pursuant to Article IX hereof on or after the date of the delivery of such
Fundamental Change Purchase Notice unless such Fundamental Change Purchase Notice has first been validly withdrawn as specified in the following two paragraphs. 
  

A Fundamental Change Purchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in
accordance with the Fundamental Change Purchase Notice, at any time prior to the close of business on the Fundamental Change Purchase Date, specifying: 
  
 (1) the certificate number, if any, of the Security in respect of which such notice of withdrawal is being submitted, or, if not
certificated, the notice must comply with the appropriate Depositary procedures, 
  
 (2) the principal amount of the Security with respect to which such notice of withdrawal is being submitted, and 
  
 (3) the principal amount, if any, of such Security which
remains subject to the original Fundamental Change Purchase Notice, and which has been or will be delivered for purchase by the Company. 
  
 There shall be no purchase of any Securities pursuant to Section 3.11 if there has occurred (prior to, on or after, as the case may be, the giving, by the
Holders of such Securities, of the required Fundamental Change Purchase Notice) and is continuing an Event of Default, as defined herein (other than a default in the payment of the Fundamental Change Purchase Price with respect to such Securities).
The Paying Agent will promptly return to the respective Holders thereof any Securities (x) with respect to which a Fundamental Change Purchase Notice 

  

 31 

 
has been withdrawn in compliance with this Indenture, or (y) held by it during the continuance of an Event of Default (other than a default in the payment of
the Fundamental Change Purchase Price with respect to such Securities) in which case, upon such return, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
  
 Section 3.13 Deposit of Fundamental Change Purchase Price. Prior to
10:00 a.m., New York City time, on the Business Day following the Fundamental Change Purchase Date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting
as the Paying Agent, shall segregate and hold in trust) an amount of cash (in immediately available funds if deposited on such Business Day) sufficient to pay the aggregate Fundamental Change Purchase Price of all the Securities or portions thereof
which are to be purchased as of the Fundamental Change Purchase Date. 
  
 Section 3.14 Securities Purchased in Part. Any Certificated Security which is to be purchased only in part shall be surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of such Security, without service charge, a new Security or Securities, of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal
amount of the Security so surrendered which is not purchased. 
  
 Section 3.15 Covenant to Comply With Securities Laws Upon Purchase of Securities. When complying with the provisions of Section 3.7 and Section 3.11 (provided that such offer or purchase constitutes an “issuer tender offer”
for purposes of Rule 13e-4 (which term, as used herein, includes any successor provision thereto) under the Exchange Act at the time of such offer or purchase), and subject to any exemptions available under applicable law, the Company shall (i)
comply with Rule 13e-4 and Rule 14e-1 (or any successor provision) under the Exchange Act, (ii) file the related Schedule TO (or any successor schedule, form or report) under the Exchange Act, and (iii) otherwise comply with all Federal and state
securities laws so as to permit the rights and obligations under Section 3.7 and Section 3.11 to be exercised in the time and in the manner specified in Section 3.7 and Section 3.11, as the case may be. 
  
 Section 3.16 Repayment to the Company. The Trustee and the Paying
Agent shall return to the Company any cash that remains unclaimed as provided in Section 11 of the Securities (subject to the provisions of Section 7.1(f)), held by them for the payment of the Repurchase Price or the Fundamental Change Purchase
Price, as the case may be; provided, however, that to the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.13 exceeds the aggregate Repurchase Price or Fundamental Change Purchase Price of the
Securities, as the case may be, or portions thereof which the Company is obligated to purchase as of the Repurchase Date or the Fundamental Change Purchase Date, as the case may be, then, unless otherwise agreed in writing with the Company, promptly
after the Business Day following the Repurchase Date or the Fundamental Change Purchase Date, as the case may be, the Trustee shall return any such excess to the Company (subject to the provisions of Section 7.1(f)). 
  

 32 

 ARTICLE IV. 
 COVENANTS 
  
 Section 4.1
Payment of Securities. The Company shall promptly make all payments in respect of the Securities on the dates and in the manner provided in the Securities or pursuant to this Indenture. Any amounts of cash to be given to the Trustee or Paying
Agent, shall be deposited with the Trustee or Paying Agent by 10:00 a.m., New York City time, by the Company. Principal amount plus accrued interest, if any, including Liquidated Damages, if any, the Redemption Price, the Repurchase Price, the
Fundamental Change Purchase Price and cash interest, if any, shall be considered paid on the applicable date due if on such date the Trustee or the Paying Agent holds, in accordance with this Indenture, cash sufficient to pay all such amounts then
due. 
  
 Section 4.2 SEC and Other Reports. The Company
shall file with the Trustee, within 15 days after it files such annual and quarterly reports, information, documents and other reports with the SEC, copies of its annual report and of the information, documents and other reports (or copies of such
portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of
TIA Section 314(a). Delivery of such reports, information and documents 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 rely conclusively on Officers’ Certificates). 
  
 Section 4.3 Compliance Certificate. The Company shall deliver to the
Trustee within 120 days after the end of each fiscal year of the Company an Officers’ Certificate, stating whether or not to the knowledge of the signers thereof, the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may
have knowledge. 
  
 Section 4.4 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 4.5 Maintenance of Office or Agency. The Company will maintain
in the Borough of Manhattan, The City of New York, an office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of
transfer, exchange, purchase, redemption or conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The office of U.S. Bank National Association with an office at 100 Wall
Street, Suite 1600, New York, New York 10005 (Attention: Bond Window), shall initially be such office or agency for all of the aforesaid purposes. The Company shall give prompt written notice to the Trustee of the location, and of any change in the
location, of any such office or agency (other than a change in the location of the office of the Trustee). If 

  

 33 

 
at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the address of the Trustee set forth in Section 11.2. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of
Manhattan, The City of New York, for such purposes. 
  
 Section
4.6 Delivery of Certain Information. At any time when the Company is not subject to Section 13 or 15(d) of the Exchange Act, upon the request of a Holder or any beneficial owner of Securities or holder or beneficial owner of shares of Common
Stock issued upon conversion thereof, the Company will promptly furnish or cause to be furnished Rule 144A Information to such Holder or any beneficial owner of Securities or holder or beneficial owner of shares of Common Stock, or to a prospective
purchaser of any such security designated by any such holder, as the case may be, to the extent required to permit compliance by such Holder or holder with Rule 144A under the Securities Act in connection with the resale of any such security.
“Rule 144A Information” shall be such information as is specified pursuant to Rule 144A(d)(4) under the Securities Act. Whether a Person is a beneficial owner shall be determined by the Company to the Company’s reasonable
satisfaction. 
  
 Section 4.7 Treatment of Securities. Each
Holder, by acceptance of a Security, and beneficial owner, by acceptance of a beneficial ownership interest in a Security, agrees to treat the Securities as indebtedness of the Company for U.S. federal income tax purposes and not to take any action
inconsistent with such treatment. 
  
 Section 4.8 Liquidated
Damages. If Liquidated Damages are payable by the Company upon a registration default pursuant to the Registration Rights Agreement, the Company shall deliver to the Trustee a certificate to that effect stating (i) the amount of such Liquidated
Damages per $1,000 principal amount of the Securities that are payable, (ii) the facts and calculations supporting the determination of such amount and (iii) the date on which such damages are payable. The Trustee shall be entitled to rely
conclusively on any such certificate, and unless and until a Responsible Officer of the Trustee receives such a certificate, the Trustee may assume without inquiry that no Liquidated Damages are payable. 
  
 ARTICLE V. 
 SUCCESSOR CORPORATION 
  
 Section 5.1 When Company May Merge or Transfer Assets. The Company shall not consolidate with or merge with or into any other Person or convey, transfer, sell, lease or otherwise dispose of all or substantially
all of its properties and assets to any Person, unless: 
  
 (a)
either (1) the Company shall be the continuing corporation or (2) the Person (if other than the Company) formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance, transfer or lease all or
substantially all of the properties and assets of the Company substantially as an entirety (i) shall be organized and 

  

 34 

 
validly existing under the laws of the United States or any state thereof or the District of Columbia and (ii) shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Securities and this Indenture; 
  
 (b) if as a result of such transaction the Securities become convertible into common stock or other securities issued by a
third party, such third party fully and unconditionally guarantees all obligations of the Company or such successor under the Securities and this Indenture; 
  
 (c) immediately after giving effect to such transaction, no Default or Event of Default as defined herein shall have occurred and be continuing; and

  
 (d) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, comply
with this Article V and that all conditions precedent herein provided for relating to such transaction have been satisfied. 
  
 For purposes of the foregoing, the transfer (by lease, assignment (excluding the grant of a security interest but including any foreclosure thereon), sale
or otherwise) of the properties and assets of one or more Subsidiaries (other than to the Company or another Subsidiary), which, if such assets were owned by the Company, would constitute all or substantially all of the properties and assets of the
Company, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 
  
 The successor Person formed by such consolidation or into which the Company is merged or the successor Person to which such conveyance, transfer or lease
is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor had been named as the Company herein; and thereafter, except in the case of a
lease and obligations the Company may have under a supplemental indenture, the Company shall be discharged from all obligations and covenants under this Indenture and the Securities. Subject to Section 8.6, the Company, the Trustee and the successor
Person shall enter into a supplemental indenture to evidence the succession and substitution of such successor Person and such discharge and release of the Company. 
  
 ARTICLE VI. 
 DEFAULTS AND REMEDIES 
  
 Section 6.1 Events of
Default. So long as any Securities are outstanding, each of the following shall be an “Event of Default”: 
  
 (1) the Company defaults in the payment of the principal amount on any Security when the same becomes due and payable at its Stated
Maturity; 
  
 (2) the Company defaults in its
obligation to repurchase any Security, or any portion thereof, upon the exercise by the Holder of such Holder’s right to require the Company to purchase such Securities pursuant to and in accordance with Section 3.7 and 3.11 hereof; 

 

 35 

 (3) the Company defaults in its obligation to redeem any Security, or any portion
thereof, called for redemption by the Company pursuant to and in accordance with Section 3.1 hereof; 
  
 (4) the Company defaults in the payment of any accrued and unpaid interest, including Liquidated Damages, if any, on any Security, in each
case when due and payable, and continuance of such default for a period of 30 days; 
  
 (5) the Company fails to deliver Common Stock, cash or cash and Common Stock (together with cash instead of fraction shares), when
required to be delivered upon conversion of a Security, and such failure continues for 5 days after the date delivery of such Common Stock, cash or cash and Common Stock was due; 
  
 (6) the Company fails to comply with any of its covenants or agreements in the Securities or this Indenture
(other than those referred to in clauses (1) through (5) above) and such failure continues for 60 days after receipt by the Company of a Notice of Default as defined below; 
  
 (7) a default under any indebtedness for money borrowed by the Company or any Subsidiary in an aggregate
outstanding principal amount in excess of $25.0 million, for a period of 30 days after receipt by the Company of a Notice of Default, which default (A) is caused by the failure to pay principal or interest when due on such indebtedness by the end of
the applicable grace period, if any, unless such indebtedness is discharged, or (B) results in the acceleration of such indebtedness, unless such acceleration is waived, cured, rescinded or annulled or unless such indebtedness is discharged;

  
 (8) the entry by a court having jurisdiction
in the premises of (i) a decree or order for relief in respect of the Company or any of its Subsidiaries, in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or (ii) a decree or order
adjudging the Company or any of its Subsidiaries, as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any of its Subsidiaries, under
any applicable law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and
the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 
  
 (9) the commencement by the Company or any of its Subsidiaries, of a voluntary case or proceeding under any applicable bankruptcy,
insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by the Company or any of its Subsidiaries, to the entry of a decree or order for relief in respect of the
Company or any of its Subsidiaries, in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against the Company,
or the filing by the Company or any of its Subsidiaries, of a petition or answer or consent seeking reorganization or relief under any applicable law, or the consent by the Company to the filing of such petition or to the appointment of or the
taking possession by a custodian, receiver, 

  

 36 

 
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by the Company
or any of its Subsidiaries, of an assignment for the benefit of creditors, or the admission by the Company or any of its Subsidiaries, in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by
the Company or any of its Subsidiaries, expressly in furtherance of any such action. 
  
 A Default under clauses (6) and (7) above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding
notify the Company and the Trustee, of the Default and the Company does not cure such Default (and such Default is not waived) within the time specified in the respective clause above after actual receipt of such notice. Any such notice must be in
writing, specify the Default, require that it be remedied and state that such notice is a “Notice of Default.” 
  
 The Trustee shall, within 90 days of the occurrence of a Default or Event of Default known to a Responsible Officer of the Trustee, give to the Holders of
the Securities notice of all uncured Defaults or Events of Default known to it, its status and what action the Company is taking or proposes to take with respect thereto; provided, however, the Trustee shall be protected in withholding
such notice if it, in good faith, determines that the withholding of such notice is in the best interest of such Holders, except in the case of a Default or Event of Default under clause (1), (2), (3) or (4) above. 
  
 Section 6.2 Acceleration. If an Event of Default (other than an Event
of Default specified in Section 6.1(8) or (9) with respect to the Company) occurs and is continuing (the Event of Default not having been cured or waived as provided in this Article VI), the Trustee by notice to the Company, or the Holders of at
least 25% in aggregate principal amount of the Securities at the time outstanding by written notice to the Company and the Trustee, may declare the principal amount plus accrued and unpaid interest, including Liquidated Damages, if any, on all the
Securities to be immediately due and payable. Upon such a declaration, such accelerated amount shall be due and payable immediately. If an Event of Default specified in Section 6.1(8) or (9) occurs and is continuing, the principal amount plus
accrued and unpaid interest, including Liquidated Damages, if any, on all the Securities shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Securityholders. The Holders of a
majority in aggregate principal amount of the Securities at the time outstanding, by written notice to the Trustee (and without notice to any other Securityholder) may rescind or annul an acceleration and its consequences if the rescission or
annulment would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the principal amount plus accrued and unpaid interest, including Liquidated Damages, if any, that have
become due solely as a result of acceleration and if all amounts due to the Trustee under Section 7.7 have been paid. No such rescission or annulment shall affect any subsequent Default or impair any right consequent thereto. 
  
 Section 6.3 Other Remedies. If an Event of Default occurs and is
continuing, the Trustee may pursue any available remedy to collect the payment of the principal amount plus accrued and unpaid interest, including Liquidated Damages, if any, on the Securities or to enforce the performance of any provision of the
Securities or this Indenture. 
  

 37 

 The Trustee may maintain a proceeding even if the Trustee does not possess any of the Securities or does
not produce any of the Securities in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of, or
acquiescence in, the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
  
 Section 6.4 Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the Securities at the time outstanding, by written
notice to the Trustee (and without notice to any other Securityholder), may waive an existing Default or Event of Default and its consequences except (i) an Event of Default described in Section 6.1(1), 6.1(2), 6.1(3) or 6.1(4), (ii) a Default or
Event of Default in respect of a provision that under Section 8.2 cannot be amended without the consent of each Securityholder affected or (iii) a Default or Event of Default which constitutes a failure to convert any Security in accordance with the
terms of Article IX. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. This Section 6.4 shall be in lieu of
Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
  
 Section 6.5 Control by Majority. The Holders of a majority in aggregate principal amount of the Securities at the time outstanding may direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture or that the Trustee determines in good faith is unduly prejudicial to the rights of other Securityholders or would involve the Trustee in personal liability unless the Trustee is offered indemnity satisfactory to it. This Section 6.5 shall
be in lieu of Section 316(a)(1)(A) of the TIA and such Section 316(a)(1)(A) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
  
 Section 6.6 Limitation on Suits. A Securityholder may not pursue any remedy with respect to this Indenture or the Securities unless: 
  
 (1) the Holder gives to the Trustee written notice stating
that an Event of Default is continuing; 
  
 (2)
the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding make a written request to the Trustee to pursue the remedy; 
  

(3) such Holder or Holders offer to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or
expense; 
  
 (4) the Trustee does not comply with
the request within 60 days after receipt of such notice, request and offer of security or indemnity; and 
  
 (5) the Holders of a majority in aggregate principal amount of the Securities at the time outstanding do not give the Trustee a direction
inconsistent with the request during such 60-day period. 
  

 38 

 A Securityholder may not use this Indenture to prejudice the rights of any other Securityholder or to
obtain a preference or priority over any other Securityholder. 
  
 Section 6.7 Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of the principal amount, Redemption Price, Repurchase Price, Fundamental Change
Purchase Price or interest, including Liquidated Damages, if any, in respect of the Securities held by such Holder, on or after the respective due dates expressed in the Securities or any Redemption Date, Repurchase Date or Fundamental Change
Purchase Date and to convert the Securities in accordance with Article IX, or to bring suit for the enforcement of any such payment on or after such respective dates or the right to convert, shall not be impaired or affected adversely without the
consent of such Holder. 
  
 Section 6.8 Collection Suit by
Trustee. If an Event of Default described in Section 6.1(1), 6.1(2), 6.1(3) or 6.1(4) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount owing
with respect to the Securities and the amounts provided for in Section 7.7. 
  
 Section 6.9 Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding
relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal amount, Redemption Price, Repurchase Price, Fundamental
Change Purchase Price or interest, including Liquidated Damages, if any, in respect of the Securities 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 on the Company for the payment of any such amount) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
  
 (a) to file and prove a claim for the whole amount of the principal amount, Redemption Price, Repurchase Price, Fundamental Change Purchase Price, or
interest, including Liquidated Damages, if any, and to file such other papers or documents as may be 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 or any other amounts due the Trustee under Section 7.7) and of the Holders allowed in such judicial proceeding, and 
  
 (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee
under Section 7.7. 
  
 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, 

  

 39 

 
adjustment or composition affecting the Securities 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. 
  
 Section 6.10 Priorities.
If the Trustee collects any money pursuant to this Article VI, it shall pay out the money in the following order: 
  
 FIRST: to the Trustee for amounts due under Section 7.7; 
  
 SECOND: to Securityholders for amounts due and unpaid on the Securities for the principal amount, Redemption Price, Repurchase Price, Fundamental Change
Purchase Price or interest, including Liquidated Damages, if any, as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Securities; and 
  
 THIRD: the balance, if any, to the Company. 
  
 The Trustee may fix a record date and payment date for any payment to
Securityholders pursuant to this Section 6.10. At least 15 days before such record date, the Trustee shall mail to each Securityholder and the Company a notice that states the record date, the payment date and the amount to be paid. 
  
 Section 6.11 Undertaking for Costs. 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, a court in its discretion may require the filing by any party litigant (other than the Trustee) in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in aggregate principal amount of the Securities at the
time outstanding. This Section 6.11 shall be in lieu of Section 315(e) of the TIA and such Section 315(e) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
  
 Section 6.12 Waiver of Stay, Extension or Usury Laws. The Company covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury or other law wherever enacted, now or at any time hereafter in force, which would
prohibit or forgive the Company from paying all or any portion of the principal amount, Redemption Price, Repurchase Price or Fundamental Change Purchase Price in respect of Securities, or any interest, including Liquidated Damages, if any, on such
amounts, as contemplated herein, or which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that
it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
  

 40 

 ARTICLE VII. 
 TRUSTEE 
  
 Section 7.1
Duties of Trustee. 
  
 (a) If an Event of Default known to
the Trustee has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances
in the conduct of such person’s own affairs. 
  
 (b) Except
during the continuance of an Event of Default known to the Trustee: 
  
 (1) the Trustee need perform only those duties that are specifically set forth in this Indenture and no others; and 
  
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of
the opinions expressed therein, upon 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 which by any provision hereof are specifically required
to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture, but need not confirm or investigate the accuracy of mathematical calculations or
other facts stated therein. This Section 7.1(b) shall be in lieu of Section 315(a) of the TIA and such Section 315(a) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
  
 (c) The Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 
  
 (1) this Section (c) does not limit the effect of Section (b) of this Section 7.1; 
  
 (2) the Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.5. Subparagraphs (c)(1), (2) and (3) shall be in lieu of Sections 315(d)(1), 315(d)(2) and 315(d)(3) of the TIA and such Sections 315(d)(1), 315(d)(2) and 315(d)(3) are hereby expressly excluded from this
Indenture, as permitted by the TIA. 
  
 (d) Every provision of
this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c), (e) and (f) of this Section 7.1. 
  
 (e) The Trustee may refuse to perform any duty or exercise any right or power or extend or risk its own funds or otherwise incur any financial liability
unless it receives indemnity satisfactory to it against any loss, liability or expense. 
  

 41 

 (f) Money held by the Trustee in trust hereunder need not be segregated from other funds except to the
extent required by law. The Trustee (acting in any capacity hereunder) shall be under no liability for interest on any money received by it hereunder unless otherwise agreed in writing with the Company. 
  
 Section 7.2 Rights of Trustee. Subject to its duties and
responsibilities under the TIA, 
  
 (a) the Trustee may
conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
  
 (b) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering
or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’ Certificate; 
  
 (c) the Trustee may execute any of the trusts or powers hereunder or perform
any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
  
 (d) the Trustee shall not be liable for any action taken, suffered, or
omitted to be taken by it in good faith which it reasonably believes to be authorized or within its rights or powers conferred under this Indenture; 
  
 (e) the Trustee may consult with counsel selected by it and any advice or Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 
  
 (f) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of
any of the Holders, pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby;

  
 (g) any request or direction of the Company mentioned herein
shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
  
 (h) 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, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the 

  

 42 

 
Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of
such inquiry or investigation; 
  
 (i) the Trustee shall not be
deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust
Office of the Trustee, and such notice references the Securities and this Indenture; 
  
 (j) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of
its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder; 
  
 (k) in no event shall the Trustee be responsible or liable for special, indirect or consequential loss of damage of any kind whatsoever (including, but
not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 
  
 (l) the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as
so authorized in any such certificate previously delivered and not superseded; and 
  
 (m) the grant of any permissive power or right to the Trustee hereunder shall not be considered to impose a mandatory duty to act. 
  
 Section 7.3 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or
pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, Conversion Agent or co-registrar may do the same with like rights. However, the
Trustee must comply with Sections 7.10 and 7.11. 
  
 Section 7.4
Trustee’s Disclaimer. The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use or application of the proceeds from the Securities, it
shall not be responsible for any statement in the registration statement for the Securities under the Securities Act or in any offering document for the Securities, the Indenture or the Securities (other than its certificate of authentication), or
the determination as to which beneficial owners are entitled to receive any notices hereunder. 
  
 Section 7.5 Notice of Defaults. If a Default occurs and if it is known to the Trustee, the Trustee shall give to each Securityholder notice of the Default within 90 days after it occurs or, if later, within 15
days after it is known to the Trustee, unless such Default shall have been cured or waived before the giving of such notice. Notwithstanding the preceding sentence, except in the case of a Default described in Section 6.1(1), 6.1(2), 6.1(3) or
6.1(4), the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interest of the Securityholders. The preceding 

  

 43 

 
sentence shall be in lieu of the proviso to Section 315(b) of the TIA and such proviso is hereby expressly excluded from this Indenture, as permitted by the
TIA. The Trustee shall not be deemed to have knowledge of a Default unless a Responsible Officer of the Trustee has received written notice of such Default, which notice specifically references this Indenture and the Securities. 
  
 Section 7.6 Reports by Trustee to Holders. Within 60 days after each
April 15 beginning with the April 15 following the date of this Indenture, the Trustee shall mail to each Securityholder a brief report dated as of such April 15 that complies with TIA Section 313(a), if required by such Section 313(a). The Trustee
also shall comply with TIA Section 313(b). 
  
 A copy of each
report at the time of its mailing to Securityholders shall be filed with the SEC and each securities exchange, if any, on which the Securities are listed. The Company agrees to notify the Trustee promptly whenever the Securities become listed on any
securities exchange and of any delisting thereof. 
  
 Section 7.7
Compensation and Indemnity. The Company agrees: 
  
 (a) to
pay to the Trustee from time to time such compensation as the Company and the Trustee shall from time to time agree in writing for all services rendered by it hereunder (which compensation shall not be limited (to the extent permitted by law) by any
provision of law in regard to the compensation of a trustee of an express trust); 
  
 (b) to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses, advances and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
  
 (c) to indemnify the Trustee or any predecessor Trustee and their agents for,
and to hold them harmless against, any loss, damage, claim, liability, cost or expense (including attorney’s fees and expenses, and taxes (other than taxes based upon, measured by or determined by the income of the Trustee and any and all
franchise taxes of the Trustee)) incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this trust or the exercise or performance of its duties hereunder, including without
limitation the costs and expenses of defending itself against any claim (whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder.

  
 To secure the Company’s payment obligations in this
Section 7.7, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust to pay the principal amount, Redemption Price, Repurchase Price, Fundamental Change Purchase
Price or interest, including Liquidated Damages, if any, as the case may be, on particular Securities. 
  
 The Company’s payment and indemnification obligations pursuant to this Section 7.7 shall survive the discharge of this Indenture and the resignation
or removal of the Trustee. When the Trustee incurs expenses or renders services after the occurrence of a Default specified in 

  

 44 

 
Section 6.1(8) or 6.1(9), the expenses, including the reasonable charges and expenses of its counsel, and the compensation for the services are intended to
constitute expenses of administration under any bankruptcy law. 
  
 Section 7.8 Replacement of Trustee. The Trustee may resign by so notifying the Company; provided, however, no such resignation shall be effective until a successor Trustee has accepted its appointment pursuant to this Section
7.8. The Holders of a majority in aggregate principal amount of the Securities at the time outstanding may remove the Trustee by so notifying the Trustee and the Company. The Company shall remove the Trustee if: 
  
 (1) the Trustee fails to comply with Section 7.10;

  
 (2) the Trustee is adjudged bankrupt or
insolvent; 
  
 (3) a receiver or public officer
takes charge of the Trustee or its property; or 
  
 (4) the Trustee otherwise becomes incapable of acting. 
  
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint, by resolution of its Board of Directors, a successor Trustee. 
  
 A successor Trustee shall deliver a written acceptance of its appointment to
the retiring Trustee and to the Company satisfactory in form and substance to the retiring Trustee and the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the
rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Securityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee,
subject to the lien provided for in Section 7.7. 
  
 If a
successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in aggregate principal amount of the Securities at the time outstanding may
petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor Trustee. 
  
 If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and
the appointment of a successor Trustee. 
  
 Section 7.9
Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets (including the administration of the trust created by this Indenture) to,
another corporation or association, the resulting, surviving or transferee corporation or association without any further act shall be the successor Trustee. 
  
 Section 7.10 Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of TIA Sections 310(a)(1) and 310(b). The
Trustee (or its parent holding company) 

  

 45 

 
shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. Nothing herein
contained shall prevent the Trustee from filing with the SEC the application referred to in the penultimate paragraph of TIA Section 310(b). 
  
 Section 7.11 Preferential Collection of Claims Against Company. The Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 
  
 Section 7.12 Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable 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 or utilities, communications or computer (software or hardware) services. 
  
 ARTICLE VIII. 
 AMENDMENTS

  
 Section 8.1 Without Consent of Holders. The Company
and the Trustee may amend, modify or supplement this Indenture or the Securities without the consent of any Securityholder to: 
  
 (a) add to the covenants of the Company for the benefit of the Holders of Securities; 
  
 (b) surrender any right or power herein conferred upon the Company; 
  
 (c) provide for conversion rights of Holders if any reclassification or
change of the Common Stock or any consolidation, merger or sale of all or substantially all of the Company’s assets occurs; 
  
 (d) provide for the assumption of the Company’s obligations to the Holders of Securities in the case of a merger, consolidation, conveyance, transfer
or lease pursuant to Article V hereof; 
  
 (e) subject to Section
9.3(m), increase the Conversion Rate, provided that such increase will not adversely affect the interest of the Holders; 
  
 (f) comply with the requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
  
 (g) making any changes or modifications necessary in connection with the
registration of the Securities under the Securities Act as contemplated in the Registration Rights Agreement; provided that such change or modification does not, in the good faith opinion of the Board of Directors and the Trustee, adversely affect
the interests on the Holders in any material respect; 
  

 46 

 (h) cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any
other provision herein or which is otherwise defective; provided, however, that such action pursuant to this clause (g) does not, in the good faith opinion of the Board of Directors of the Company (as evidenced by a Board Resolution),
adversely affect the interests of the Holders of Securities in any material respect; provided, further, that any amendment made solely to conform the provisions of this Indenture to the description of the Securities contained in the Offering
Memorandum relating to the Securities, dated April 13, 2005, will not be deemed to adversely affect the interests of the Holders; and 
  
 (i) add or modify any other provisions herein with respect to matters or questions arising hereunder which the Company and the Trustee may deem necessary
or desirable and that will not, in the good faith opinion of the Board of Directors of the Company (as evidenced by a Board Resolution), adversely affect the interests of the Holders of Securities. 
  
 Section 8.2 With Consent of Holders. Except as provided below in this
Section 8.2 and in Section 8.1, this Indenture or the Securities may be amended, modified or supplemented, and noncompliance in any particular instance with any provision of this Indenture or the Securities may be waived, in each case with the
written consent of the Holders of at least a majority of the aggregate principal amount of the Securities at the time outstanding. 
  
 Without the written consent or the affirmative vote of each Holder of Securities affected thereby, an amendment or waiver under this Section 8.2 may not:

  
 (a) change the maturity of the principal or the date any
installment of interest, including Liquidated Damages, is due on any Security; 
  
 (b) reduce the principal amount, Repurchase Price, Redemption Price or Fundamental Change Purchase Price of, or interest, including Liquidated Damages payable on, any Security; 
  
 (c) change the currency of any amount owed or owing under the Security or any
interest thereon from U.S. Dollars; 
  
 (d) impair the right of
any Holder to institute suit for the enforcement of any payment or with respect to any Security; 
  
 (e) modify the obligation of the Company to maintain an office or agency in The City of New York pursuant to Section 4.5; 
  
 (f) except as otherwise permitted or contemplated by the provisions of this
Indenture, adversely affect the repurchase right of the Holders of the Securities or the redemption provisions as provided in Article III or the right of the Holders of the Securities to convert any Security as provided in Article IX; 
  
 (g) modify any of the provisions of this Section 8.2, or reduce the principal
amount of outstanding Securities required to waive a default, except to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each outstanding Security affected thereby; or

  

 47 

 (h) reduce the percentage of the principal amount of the outstanding Securities the consent of whose
Holders is required for any such supplemental indenture or the consent of whose Holders is required for any waiver provided for in this Indenture. 
  
 It shall not be necessary for the consent of the Holders under this Section 8.2 to approve the particular form of any proposed amendment, but it shall be
sufficient if such consent approves the substance thereof. 
  
 After an amendment under this Section 8.2 becomes effective, the Company shall mail to each Holder a notice briefly describing the amendment. 
  
 Nothing in this Section 8.2 shall impair the ability of the Company and the Trustee to amend this Indenture or the Securities without the consent of any
Securityholder to provide for the assumption of the Company’s obligations to the Holders of Securities in the case of a merger, consolidation, conveyance, transfer or lease pursuant to Article V hereof. 
  
 Section 8.3 Compliance with Trust Indenture Act. Every supplemental
indenture executed pursuant to this Article shall comply with the TIA. 
  
 Section 8.4 Revocation and Effect of Consents, Waivers and Actions. Until an amendment, waiver or other action by Holders becomes effective, a consent thereto by a Holder of a Security hereunder is a continuing consent by the Holder
and every subsequent Holder of that Security or portion of the Security that evidences the same obligation as the consenting Holder’s Security, even if notation of the consent, waiver or action is not made on the Security. However, any such
Holder or subsequent Holder may revoke the consent, waiver or action as to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date the amendment, waiver or action becomes effective.
After an amendment, waiver or action becomes effective, it shall bind every Securityholder. 
  
 Section 8.5 Notation on or Exchange of Securities. Securities authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee,
bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors, to
any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for outstanding Securities. 
  
 Section 8.6 Trustee to Sign Supplemental Indentures. The Trustee shall sign any supplemental indenture authorized
pursuant to this Article VIII if the amendment contained therein does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign such supplemental indenture. In signing such
supplemental indenture the Trustee shall receive, and (subject to the provisions of Section 7.1) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted
by this Indenture. 
  
 Section 8.7 Effect of Supplemental
Indentures. Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; 

  

 48 

 
and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
  
 ARTICLE IX. 
 CONVERSIONS 
  
 Section 9.1 Conversion Privilege. 
  
 (a) Subject
to and upon compliance with the provisions of this Article IX, a Holder of a Security shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 or an integral multiple of $1,000) of
such Security into shares of Common Stock at the Conversion Rate in effect on the date of conversion, at any time prior to the close of business on the Business Day prior to the Stated Maturity of the Securities. 
  
 (b) Subject to Section 9.4 and Section 9.12, if a Holder elects to convert a
Security in connection with clauses (i) or (iii) of the definition of Fundamental Change referred to in Section 3.11 (or in connection with a transaction that would have been a Fundamental Change under such clause (i) or (iii) but for the existence
of the 110% Trading Price Exception), within 30 days of receiving notice of a Fundamental Change, pursuant to which 10% or more of the consideration for the Common Stock (other than cash payments for fractional shares and cash payments made in
respect of dissenters’ appraisal rights) in such transaction consists of cash or securities (or other property) that are not traded or scheduled to be traded immediately following such transaction on a U.S. national securities exchange or The
Nasdaq National Market (a “Non-Stock Fundamental Change”), the Company will increase the Conversion Rate by a number of additional shares of Common Stock (the “Additional Common Stock”) as set forth below. The
number of shares of Additional Common Stock will be determined by reference to the table below, based on the date on which the Non-Stock Fundamental Change becomes effective (the “Effective Date”) and the price (the “Stock
Price”) paid per share for the Common Stock in the Non-Stock Fundamental Change. If Holders of Common Stock receive only cash in the Non-Stock Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock
Price shall be the average of the Sale Prices of the Common Stock on the five Trading Days prior to but not including the Effective Date of such Non-Stock Fundamental Change. 
  
 The Stock Prices and number of shares of Additional Common Stock set forth in the table below will be adjusted as of any
date on which the Conversion Rate is adjusted. On such date, the Stock Prices shall be adjusted by multiplying: 
  
 (1) the Stock Prices applicable immediately prior to such adjustment, by 
  
 (2) a fraction, of which 
  
 (A) the numerator shall be the Conversion Rate immediately prior to the adjustment giving rise to the Stock
Price adjustment; and 
  
 (B) the denominator
shall be the Conversion Rate as so adjusted. 
  
 The number of shares of
Additional Common Stock shall be correspondingly adjusted in the same manner as the adjustments described in Section 9.3. 
  

 49 

 The following table sets forth the Stock Price and the number of shares of Additional Common Stock
issuable per $1,000 aggregate principal amount of Securities: 
  

																	
	 Stock Price

	  	$11.02

	  	$15.00

	  	$20.000

	  	$25.00

	  	$30.00

	  	$35.00

	  	$40.00

	  	>$40.00

	 4/15/05
	  	20.98	  	11.54	  	6.44	  	4.03	  	2.72	  	1.92	  	1.40	  	0.00
	 4/15/06
	  	20.68	  	10.80	  	5.71	  	3.44	  	2.26	  	1.57	  	1.13	  	0.00
	 4/15/07
	  	20.49	  	9.91	  	4.82	  	2.73	  	1.73	  	1.17	  	0.83	  	0.00
	 4/15/08
	  	20.22	  	8.59	  	3.57	  	1.81	  	1.08	  	0.72	  	0.51	  	0.00
	 4/15/09
	  	19.75	  	6.33	  	1.71	  	0.63	  	0.34	  	0.23	  	0.17	  	0.00
	 4/15/10
	  	0.00	  	0.00	  	0.00	  	0.00	  	0.00	  	0.00	  	0.00	  	0.00

  
 If the Stock Price and
Effective Date are not set forth on the table above and the Stock Price is: 
  
 (A) between two Stock Prices on the table or the Effective Date is between two dates on the table, the number of shares of Additional Common Stock will be determined by straight-line interpolation between the number
of shares of Additional Common Stock set forth for the higher and lower Stock Price and the two Effective Dates, as applicable, based on a 360-day year; 
  
 (B) in excess of $40.00 per share (subject to adjustment), no shares of Additional Common Stock will be issued upon conversion; or

  
 (C) less than $11.02 per share (subject to
adjustment), no shares of Additional Common Stock will be issued upon conversion. 
  
 Notwithstanding the foregoing, in no event shall the total number of shares of Common Stock issuable upon conversion exceed 90.7852 per $1,000 of aggregate principal amount of Securities, subject to adjustments in the
same manner as the Conversion Rate in Section 9.3. 
  
 The Company
and each Holder, by accepting the Securities, acknowledge that the loss suffered by a Holder in the event of a Fundamental Change requiring the Company to deliver Additional Common Stock upon conversion of a Security is not susceptible of precise
determination. The Company and each Holder, by accepting the Securities, agree that the adjustment to the Conversion Rate relating to the Additional Common Stock is intended to compensate Holders for the lost option value of the Securities following
such Fundamental Change, is reasonable in relation to the loss suffered by Holders and is not a penalty for the Company. 
  
 (c) The Company shall provide written notice to all Holders and to the Trustee at least 15 Trading Days prior to the anticipated Effective Date of a
Non-Stock Fundamental Change. The Company must also provide written notice to all Holders and to the Trustee within 15 days following the effectiveness of such Non-Stock Fundamental Change. Subject to Section 9.12, Holders may surrender Securities
for conversion and receive the Additional Common Stock pursuant to Section 9.1(b) at any time within 30 days of receiving notice of such Non-Stock Fundamental Change (or, if such transaction also results in Holders having a right to require the

  

 50 

 
Company to repurchase their Securities, until the Fundamental Change Purchase Date with respect to such Fundamental Change). 
  
 Section 9.2 Conversion Procedure; Conversion Rate; Fractional Shares.

  
 (a) Each Security shall be convertible at the office of the
Conversion Agent into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Security will be converted into shares of Common Stock at the Conversion Rate therefor. No payment or adjustment shall be
made in respect of dividends on the Common Stock or accrued interest on a converted Security, except as described in Section 9.9 hereof. The Company shall not issue any fraction of a share of Common Stock in connection with any conversion of
Securities, but instead shall, subject to Section 9.3(k) hereof, make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Sale Price of the Common Stock on the last Trading Day prior to the date of conversion.
Notwithstanding the foregoing, a Security in respect of which a Holder has delivered a Fundamental Change Purchase Notice exercising such Holder’s option to require the Company to repurchase such Security may be converted only if such notice of
exercise is withdrawn in accordance with the Section 3.12 hereof. 
  
 (b) Before any Holder of a Security shall be entitled to convert the same into Common Stock, such Holder shall, in the case of Global Securities, comply with the procedures of the Depositary in effect at that time, and in the case of
Certificated Securities, surrender such Securities, duly endorsed to the Company or in blank, at the office of the Conversion Agent, and shall give written notice to the Company at said office or place that such Holder elects to convert the same and
shall state in writing therein the principal amount of Securities to be converted and the name or names (with addresses) in which such Holder wishes the certificate or certificates for Common Stock to be issued. 
  
 Before any such conversion, a Holder also shall pay all funds required, if
any, relating to interest on the Securities, as provided in Section 9.9, and all taxes or duties, if any, as provided in Section 9.8. 
  
 If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be
deliverable upon conversion shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted thereby) so surrendered. Subject to the next succeeding sentence and to Section
9.13, the Company will, as soon as practicable thereafter, issue and deliver at said office or place to such Holder of a Security, or to such Holder’s nominee or nominees, certificates for the number of full shares of Common Stock, including
any Additional Common Stock, to which such Holder shall be entitled as aforesaid, together with cash in lieu of any fraction of a share to which such Holder would otherwise be entitled. The Company shall not be required to deliver certificates for
shares of Common Stock while the stock transfer books for such stock or the security register are duly closed for any purpose, but certificates for shares of Common Stock shall be issued and delivered as soon as practicable after the opening of such
books or security register. 
  

 51 

 (c) A Security shall be deemed to have been converted as of the close of business on the date of the
surrender of such Securities for conversion and compliance with the other requirements of this Section 9.2 as provided above, and the Person or Persons entitled to receive the Common Stock issuable upon such conversion shall be treated for all
purposes as the record Holder or Holders of such Common Stock as of the close of business on such date. 
  
 (d) In case any Security 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 Security so surrendered, without charge to such Holder (subject to the provisions of Section 9.8 hereof), a new Security or Securities in authorized denominations in an aggregate principal amount equal to the
unconverted portion of the surrendered Securities. 
  
 Section 9.3
Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time to time as follows: 
  
 (a) In case the Company shall, at any time or from time to time while any of the Securities are outstanding, pay a dividend or make a distribution in
shares of Common Stock to all holders of its outstanding shares of Common Stock, then the Conversion Rate in effect at the opening of business on the date following the record date fixed for the determination of stockholders entitled to receive such
dividend or other distribution shall be increased by multiplying such Conversion Rate by a fraction: 
  
 (1) the numerator of which shall be the sum of the number of shares of Common Stock outstanding at the close of business on the Record
Date fixed for such determination and the total number of shares constituting such dividend or other distribution; and 
  
 (2) the denominator of which shall be such number of shares of Common Stock outstanding at the close of business on the Record Date fixed
for such determination. 
  
 Such increase shall become effective
immediately after the opening of business on the day following the Record Date fixed for such determination. If any dividend or distribution of the type described in this Section 9.3(a) is declared but not so paid or made, the Conversion Rate shall
again be adjusted to the Conversion Rate which would then be in effect if such dividend or distribution had not been declared. 
  
 (b) In case the Company shall, at any time or from time to time while any of the Securities are outstanding, subdivide its outstanding shares of Common
Stock into a greater number of shares of Common Stock, then the Conversion Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and conversely, in
case the Company shall, at any time or from time to time while any of the Securities are outstanding, combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then the Conversion Rate in effect at the opening
of business on the day following the day upon which such combination becomes effective shall be proportionately decreased. 
  
 Such increase or reduction, as the case may be, shall become effective immediately after the opening of business on the day following the day upon which
such subdivision or combination becomes effective. 
  

 52 

 (c) In case the Company shall, at any time or from time to time while any of the Securities are
outstanding, issue rights or warrants (other than any rights or warrants referred to in Section 9.3(d)) to all or substantially all holders of its shares of Common Stock entitling them to subscribe for or purchase, for a period of up to 45 days,
shares of Common Stock at a price per share less than the Sale Price on the Business Day immediately preceding the date of the announcement of such issuance then the Conversion Rate shall be adjusted so that the same shall equal the rate determined
by multiplying the Conversion Rate in effect at the opening of business on the date after such date of announcement by a fraction: 
  
 (1) the numerator of which shall be the number of shares of Common Stock outstanding at the close of business on the date of announcement,
plus the total number of additional shares of Common Stock so offered for subscription or purchase; and 
  
 (2) the denominator of which shall be the number of shares of Common Stock outstanding on the close of business on the date of
announcement, plus the number of shares or securities which the aggregate offering price of the total number of shares or securities so offered for subscription or purchase would purchase at such Sale Price of the Common Stock. 
  
 Such adjustment shall become effective immediately after the opening of
business on the day following the date of announcement of such issuance. To the extent that shares of Common Stock are not delivered pursuant to such rights or warrants, upon the expiration or termination of such rights or warrants, the Conversion
Rate shall be readjusted to the Conversion Rate which would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of the delivery of only the number of shares of Common Stock actually
delivered. In the event that such rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate which would then be in effect if the date fixed for the determination of stockholders entitled to receive
such rights or warrants had not been fixed. In determining whether any rights or warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than such Sale Price, and in determining the aggregate offering price of such
shares of Common Stock, there shall be taken into account any consideration received for such rights or warrants, the value of such consideration if other than cash to be determined by the Board of Directors. 
  
 (d) In case the Company shall, at any time or from time to time while any of
the Securities are outstanding, by dividend or otherwise, distribute to all or substantially all holders of its shares of Common Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the
continuing corporation and the Common Stock is not changed or exchanged), shares of Capital Stock (other than any dividends or distributions to which Section 9.3(a) applies and distributions of Common Stock to which Section 9.3(a) applies),
evidences of its indebtedness or other assets, including securities, but excluding (i) any rights or warrants referred to in Section 9.3(c), (ii) dividends and distributions of stock, securities or other property or assets (including cash) in
connection with a reclassification, change, consolidation, merger, combination, sale or conveyance to which Section 9.4 applies, and, (iii) any dividends or distributions paid exclusively in cash referred to in Section 9.3(e) (such capital stock,
evidence of its indebtedness, and other assets or securities being distributed hereinafter in this Section 9.3(d) called the “distributed assets”), then, in each such case, subject to the second and third succeeding paragraphs and
the last paragraph of this 

  

 53 

 
Section 9.3(d), the Conversion Rate shall be increased so that the same shall be equal to the rate determined by multiplying the Conversion Rate in effect
immediately prior to the close of business on the Record Date with respect to such distribution by a fraction: 
  
 (1) the numerator of which shall be the Current Market Price of the Common Stock; and 
  
 (2) the denominator of which shall be the Current Market
Price of such Common Stock, less the Fair Market Value on such date of the portion of the distributed assets so distributed applicable to one share of Common Stock (determined on the basis of the number of shares of Common Stock outstanding on the
record date)(determined as provided in Section 9.3(g)). 
  
 Such
increase shall become effective immediately prior to the opening of business on the day following the Record Date for such distribution. In the event that such dividend or distribution is not so paid or made, the Conversion Rate shall again be
adjusted to be the Conversion Rate which would then be in effect if such dividend or distribution had not been declared. 
  
 If the Board of Directors determines the Fair Market Value of any distribution for purposes of this Section 9.3(d) by reference to the actual or when
issued trading market for any distributed assets comprising all or part of such distribution, it must in doing so consider the prices in such market over the same period (the “Reference Period”) used in computing the Current Market
Price pursuant to Section 9.3(g) to the extent possible, unless the Board of Directors determines in good faith that determining the Fair Market Value during the Reference Period would not be in the best interest of the Holders. Notwithstanding the
foregoing, in the event any such distribution consists of shares of capital stock of, or similar equity interests in, one or more of the Company’s Subsidiaries (a “Spin-Off”), the Conversion Rate shall be increased so that the
same shall be equal to the rate determined by multiplying the Conversion Rate in effect immediately prior to the close of business on the Record Date with respect to such distribution by a fraction: 
  
 (1) the numerator of which shall be the Current Market Price
of the Common Stock (determined as set forth in the third and fourth succeeding sentences), plus the Fair Market Value on such date of the portion of the distributed assets so distributed applicable to one share of Common Stock (determined on the
basis of the number of shares of Common Stock outstanding on the record date) (determined as set forth in the third and fourth succeeding sentences); and 
  
 (2) the denominator of which shall be the Current Market Price on such date. 
  
 Such increase shall become effective immediately prior to the opening of business on the day following the last Trading Day
of the Spin-Off Valuation Period. In the event that such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate which would then be in effect if such dividend or distribution had not
been declared. In the case of a Spin-Off, the Fair Market Value of the securities to be distributed shall equal the average of the closing sale prices of such securities on the principal securities market 

  

 54 

 
on which such securities are traded for the five consecutive Trading Days commencing on and including the sixth day of trading of those securities after the
effectiveness of the Spin-Off (the “Spin-Off Valuation Period”), and the Current Market Price shall be measured for the same period. In the event, however, that an underwritten initial public offering of the securities in the
Spin-Off occurs simultaneously with the Spin-Off, Fair Market Value of the securities distributed in the Spin-Off shall mean the initial public offering price of such securities and the Current Market Price shall mean the Sale Price for the Common
Stock on the same Trading Day. 
  
 Rights or warrants distributed
by the Company to all holders of its shares of Common Stock entitling them to subscribe for or purchase shares of the Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a
specified event or events (“Trigger Event”), (i) are deemed to be transferred with such shares of Common Stock, (ii) are not exercisable and (iii) are also issued in respect of future issuances of shares of Common Stock shall be
deemed not to have been distributed for purposes of this Section 9.3(d) (and no adjustment to the Conversion Rate under this Section 9.3(d) will be required) until the occurrence of the earliest Trigger Event. If such right or warrant is subject to
subsequent events, upon the occurrence of which such right or warrant shall become exercisable to purchase different distributed assets, evidences of indebtedness or other assets, or entitle the holder to purchase a different number or amount of the
foregoing or to purchase any of the foregoing at a different purchase price, then the occurrence of each such event shall be deemed to be the date of issuance and record date with respect to a new right or warrant (and a termination or expiration of
the existing right or warrant without exercise by the holder thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described in the preceding
sentence) with respect thereto, that resulted in an adjustment to the Conversion Rate under this Section 9.3(d)): 
  
 (1) in the case of any such rights or warrants which shall all have been redeemed or repurchased without exercise by any holders thereof,
the Conversion Rate shall be readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or repurchase price
received by a holder of shares of Common Stock with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of shares of Common Stock as of the date of such redemption or repurchase; and

  
 (2) in the case of such rights or warrants
which shall have expired or been terminated without exercise, the Conversion Rate shall be readjusted as if such rights and warrants had never been issued. 
  
 For purposes of this Section 9.3(d) and Section 9.3(a), 9.3(b) and 9.3(c), any dividend or distribution to which this Section 9.3(d) is applicable that
also includes (i) shares of Common Stock, (ii) a subdivision or combination of shares of Common Stock to which Section 9.3(b) applies or (iii) rights or warrants to subscribe for or purchase shares of Common Stock to which Section 9.3(c) applies (or
any combination thereof), shall be deemed instead to be: 
  
 (1) a dividend or distribution of the evidences of indebtedness, assets, shares of capital stock, rights or warrants, other than such shares of Common Stock, such subdivision or combination or such rights or warrants
to which Section 9.3(a), 9.3(b) and 9.3(c) apply, 

  

 55 

 
respectively (and any Conversion Rate increase required by this Section 9.3(d) with respect to such dividend or distribution shall then be made), immediately
followed by 
  
 (2) a dividend or distribution of
such shares of Common Stock, such subdivision or combination or such rights or warrants (and any further Conversion Rate increase required by Sections 9.3(a), 9.3(b), and 9.3(d) with respect to such dividend or distribution shall then be made),
except: 
  
 (A) the Record Date of such dividend
or distribution shall be substituted as (i) “the date fixed for the determination of stockholders entitled to receive such dividend or other distribution,” “Record Date fixed for such determinations” and “Record Date”
within the meaning of Section 9.3(a) and 9.3(b), (ii) ”the day upon which such subdivision becomes effective” and “the day upon which such combination becomes effective” within the meaning of Section 9.3(b), and (iii) “the
date fixed for the determination of stockholders entitled to receive such rights or warrants,” “the Record Date fixed for the determination of the stockholders entitled to receive such rights or warrants” and such “Record
Date” within the meaning of Section 9.3(c); and 
  
 (B) any shares of Common Stock included in such dividend or distribution shall not be deemed “outstanding at the close of business on the date fixed for such determination” within the meaning of Section 9.3(a) and any reduction or
increase in the number of shares of Common Stock resulting from such subdivision or combination shall be disregarded in connection with such dividend or distribution. 
  
 In the event of any distribution referred to in this Section 9.3(d) in which (i) the value of such distribution per share of
Common Stock equals or exceeds the average of the Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on the Record Date for such distribution, or (ii) such average of the Sale Prices of the Common Stock exceeds the
Fair Market Value of such distribution applicable to one share of Common Stock (as determined by the Board of Directors) by less than $1.00, then, in each such case, in lieu of an adjustment to the Conversion Rate, adequate provision shall be made
so that each Holder shall have the right to receive upon conversion of a Security, in addition to shares of Common Stock, the kind and amount of such distribution such Holder would have received had such Holder converted such Security immediately
prior to the Record Date for determining the shareholders entitled to receive the distribution. 
  
 No adjustment to the Conversion Rate or the ability of a Holder of a Security to convert will be made if the Holder may otherwise participate in such
distribution without conversion. 
  
 (e) In case the Company
shall, by dividend or otherwise, distribute to all or substantially all holders of its Common Stock cash (excluding any dividend or distribution in connection with the liquidation, dissolution or winding up of the Company, whether voluntary or
involuntary), then, in such case, the Conversion Rate shall be increased so that the same shall equal the rate determined by dividing the Conversion Rate in effect on the applicable record date by a fraction, 
  
 (1) the numerator of which shall be the Current Market Price
minus the amount distributed per share of Common Stock; and 
  

 56 

 (2) the denominator of which shall be the Current Market Price on such record date.

  
 Such adjustment shall become effective immediately after the
opening of business on the day following the Record Date fixed for the determination of the stockholders entitled to receive such cash dividend or other distribution consisting exclusively of cash. If any dividend or distribution of the type
described in this Section 9.3(e) is declared but not so paid or made, the Conversion Rate shall again be adjusted to the Conversion Rate which would then be in effect if such dividend or distribution had not been declared. 
  
 (f) In case a tender or exchange offer made by the Company or any Subsidiary
for all or any portion of the Common Stock shall expire and such tender or exchange offer (as amended upon the expiration thereof) shall require the payment to stockholders of consideration per share of Common Stock having a Fair Market Value (as
determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of Directors) that as of the last time (the “Expiration Time”) tenders or exchanges may be made pursuant to
such tender or exchange offer (as it may be amended) exceeds the Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time, the Conversion Rate shall be increased so that the same shall equal the rate determined by
multiplying the Conversion Rate in effect immediately prior to the Expiration Time by a fraction, 
  
 (1) the numerator of which shall be the sum of (x) the Fair Market Value (determined as aforesaid) of the aggregate consideration payable
to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged and not withdrawn as of the Expiration Time (the shares deemed so accepted up to any such
maximum, being referred to as the “Purchased Shares”) and (y) the product of the number of shares of Common Stock outstanding (less any Purchased Shares) at the Expiration Time and the Sale Price of a share of Common Stock on the
Trading Day next succeeding the Expiration Time; and 
  
 (2) the denominator of which shall be the number of shares of Common Stock outstanding (including any Purchased Shares) at the Expiration Time multiplied by the Sale Price of a share of Common Stock on the Trading Day next succeeding the
Expiration Time; 
  
 such adjustment to become effective immediately prior to the
opening of business on the day following the Expiration Time. 
  
 If the Company is obligated to purchase shares pursuant to any such tender or exchange offer, but the Company is permanently prevented by applicable law from effecting any such purchases or all such purchases are rescinded, the Conversion
Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made. 
  
 (g) Except as provided below, in case a tender or exchange offer made by a Person other than the Company or any of its Subsidiaries for all or any portion
of the Common Stock 

  

 57 

 
shall expire, the Board of Directors have not recommended rejection of such tender of exchange offer and such tender or exchange offer (as amended upon the
expiration thereof) shall require the payment to stockholders of consideration per share of Common Stock having a Fair Market Value (as determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of
the Board of Directors) that as of the last time (the “Offer Expiration Time”) tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended) exceeds the Sale Price of a share of Common Stock on
the Trading Day next succeeding the Offer Expiration Time, the Conversion Rate shall be increased so that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the Expiration Time by a fraction,

  
 (1) the numerator of which shall be the sum
of (x) the Fair Market Value (determined as aforesaid) of the aggregate consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or
exchanged and not withdrawn as of the Offer Expiration Time (the shares deemed so accepted up to any such maximum, being referred to as the “Accepted Purchased Shares”) and (y) the product of the number of shares of Common Stock
outstanding (less any Accepted Purchased Shares) at the Offer Expiration Time and the Sale Price of a share of Common Stock on the Trading Day next succeeding the Offer Expiration Time; and 
  
 (2) the denominator of which shall be the number of shares
of Common Stock outstanding (including any Accepted Purchased Shares) at the Offer Expiration Time multiplied by the Sale Price of a share of Common Stock on the Trading Day next succeeding the Offer Expiration Time, 
  
 such adjustment to become effective immediately prior to the opening of business on the day
following the Offer Expiration Time. 
  
 The foregoing adjustment
(i) shall be made only if the tender offer or exchange offer is for an amount that increase the ownership of Common Stock by the Person making such offer to more than 25% of the total shares of Common Stock outstanding and (ii) will not be made if
as of the Offer Expiration Time, the tender offer documents disclose a plan or intention to cause the Company to engage in a transaction constituting a Fundamental Change. 
  
 (h) For purposes of this Article IX, the following terms shall have the meanings indicated: 
  
 “Current Market Price” on any date means the average of the
daily Sale Prices per share of Common Stock for the ten consecutive Trading Days immediately prior to such date; provided, however, that if: 
  
 (1) the “ex” date (as hereinafter defined) for any event (other than the issuance or distribution requiring such computation)
that requires an adjustment to the Conversion Rate pursuant to Section 9.3(a), 9.3(b), 9.3(c), 9.3(d), 9.3(e), 9.3(f) or 9.3(g) occurs during such ten consecutive Trading Days, the Sale Price for each Trading Day prior to the “ex” date for
such other event shall be adjusted by dividing such Sale Price by the reciprocal of the 

  

 58 

 
fraction by which the Conversion Rate is so required to be adjusted as a result of such other event; 
  
 (2) the “ex” date for any event (other than the
issuance or distribution requiring such computation) that requires an adjustment to the Conversion Rate pursuant to Section 9.3(a), 9.3(b), 9.3(c), 9.3(d), 9.3(e), 9.3(f) or 9.3(g) occurs on or after the “ex” date for the issuance or
distribution requiring such computation and prior to the day in question, the Sale Price for each Trading Day on and after the “ex” date for such other event shall be adjusted by dividing such Sale Price by the same fraction by which the
Conversion Rate is so required to be adjusted as a result of such other event; and 
  
 (3) the “ex” date for the issuance or distribution requiring such computation is prior to the day in question, after taking into
account any adjustment required pursuant to clause (1) or (2) of this proviso, the Sale Price for each Trading Day on or after such “ex” date shall be adjusted by adding thereto the amount of any cash and the Fair Market Value (as
determined by the Board of Directors in a manner consistent with any determination of such value for purposes of Section 9.3(d), 9.3(e), 9.3(f) or 9.3(g)) of the evidences of indebtedness, shares of capital stock or assets being distributed
applicable to one share of Common Stock as of the close of business on the day before such “ex” date. 
  
 For purposes of any computation under Section 9.3(f) or 9.3(g), if the “ex” date for any event (other than the tender offer requiring such
computation) that requires an adjustment to the Conversion Rate pursuant to Section 9.3(a), 9.3(b), 9.3(c), 9.3(d), 9.3(e) or 9.3(f) occurs on or after the Expiration Time for the tender or exchange offer requiring such computation and prior to the
day in question, the Sale Price for each Trading Day on and after the “ex” date for such other event shall be adjusted by dividing such Sale Price by the same fraction by which the Conversion Rate is so required to be adjusted as a result
of such other event. For purposes of this paragraph, the term “ex” date, when used: 
  
 (1) with respect to any issuance or distribution, means the first date on which the shares of Common Stock trade regular way on the
relevant exchange or in the relevant market from which the Sale Price was obtained without the right to receive such issuance or distribution; 
  
 (2) with respect to any subdivision or combination of shares of Common Stock, means the first date on which the shares of Common Stock
trade regular way on such exchange or in such market after the time at which such subdivision or combination becomes effective; and 
  
 (3) with respect to any tender or exchange offer, means the first date on which the shares of Common Stock trade regular way on such
exchange or in such market after the Expiration Time of such offer. 
  
 Notwithstanding the foregoing, whenever successive adjustments to the Conversion Rate are called for pursuant to this Section 9.3, such adjustments shall be made to the Current Market Price as may be necessary or appropriate to effectuate
the intent of this Section 9.3 and to avoid unjust or inequitable results as determined in good faith by the Board of Directors. 
  

 59 

 “Fair Market Value” shall mean the amount that a willing buyer would pay a willing
seller in an arm’s-length transaction (as determined by the Board of Directors, whose determination shall be conclusive). 
  
 “Record Date” shall mean, with respect to any dividend, distribution or other transaction or event in which the holders of shares of
Common Stock have the right to receive any cash, securities or other property or in which the shares of Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date
fixed for determination of stockholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 
  
 (i) The Company shall be entitled to make such additional increases in the
Conversion Rate, in addition to those required by Section 9.3(a), (b), (c), (d), (e), (f) or (g), as shall be necessary in order that any dividend or distribution of Common Stock, any subdivision, reclassification or combination of shares of Common
Stock or any issuance of rights or warrants referred to above shall not be taxable to the holders of Common Stock for United States Federal income tax purposes. 
  

(j) To the extent permitted by applicable law and Section 8.1(e), the Company may, from time to time, increase the Conversion Rate by any amount for
any period of time, if such period is at least 20 business days and the increase is irrevocable during the period. Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall mail to the Trustee and each Holder at
the address of such Holder as it appears in the register of the Securities maintained by the Registrar, at least 15 days prior to the date the increased Conversion Rate takes effect, a notice of the increase stating the increased Conversion Rate and
the period during which it will be in effect. 
  
 (k) In any case
in which this Section 9.3 shall require that any adjustment be made effective as of or retroactively immediately following a Record Date, the Company may elect to defer (but only for five Trading Days following the filing of the statement referred
to in Section 9.5) issuing to the Holder of any Securities converted after such Record Date the shares of Common Stock issuable upon such conversion over and above the shares of Common Stock issuable upon such conversion on the basis of the
Conversion Rate prior to adjustment; provided, however, that the Company shall deliver to such Holder a due bill or other appropriate instrument evidencing such Holder’s right to receive such additional shares upon the occurrence
of the event requiring such adjustment. 
  
 (l) All calculations
under this Section 9.3 shall be made to the nearest cent or one-ten-thousandth of a share, with one-half cent and 0.00005 of a share, respectively, being rounded upward. 
  
 (m) In the event that at any time, as a result of an adjustment made pursuant to this Section 9.3, the Holder of any
Securities thereafter surrendered for conversion shall become entitled to receive any shares of stock of the Company other than shares of Common Stock into which the Securities originally were convertible, the Conversion Rate of such other shares so
receivable upon conversion of any such Security shall be subject to adjustment from time to time 

  

 60 

 
in a manner and on terms as nearly equivalent as practicable to the provisions with respect to Common Stock contained in subparagraphs (a) through (l) of
this Section 9.3, and the provision of Sections 9.1, 9.2 and 9.4 through 9.9 with respect to the Common Stock shall apply on like or similar terms to any such other shares and the determination of the Board of Directors as to any such adjustment
shall be conclusive. 
  
 (n) No adjustment shall be made (i)
pursuant to Section 9.3(i) if the effect thereof would be to increase the Conversion Rate above 90.7852, as adjusted for any adjustment to the Conversion Rate made pursuant to any other provision of this Section 9.3, or (ii) pursuant to any
provision of this Section 9.3 (n) if the Holders of the Securities may participate in the transaction that otherwise would give rise to an adjustment pursuant to this Section 9.3 or (b) if the consent of the holders of the Common Stock would be
required for the issuance of, or the Company’s agreement to issue, the Common Stock at the adjusted Conversion Rate pursuant to the rules of The Nasdaq Stock Market, Inc. or any exchange or other market on which the Common Stock is then listed
or traded and the Company has not obtained such consent in compliance with the applicable rules. 
  
 (o) No adjustment in the Conversion Rate need be made unless the adjustment would require an increase or decrease of at least 1% in the Conversion Rate.
Any adjustments that are not made shall be carried forward and taken into account in any subsequent adjustment, which shall be made, regardless of whether the aggregate amount of such cumulative adjustments exceeds 1%, (i) annually on the
anniversary of the Issue Date of the Securities, and otherwise (ii)(A) five Business Days prior to maturity of the Securities (whether at Stated Maturity or otherwise) or (B) prior to the Redemption Date, Repurchase Date or Fundamental Change
Purchase Date unless such adjustment has already been made prior to the adjustment contemplated by this Section 9.3(o)(ii)(A) or (B). 
  
 Section 9.4 Consolidation or Merger of the Company. If any of the following events occurs, namely: 
  
 (1) any reclassification or change of the outstanding Common
Stock (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination) as a result of which holders of Common Stock shall be entitled to receive stock,
securities or other property or assets (including cash) with respect to or in exchange for such Common Stock; 
  
 (2) any merger, consolidation, statutory share exchange or combination of the Company with another corporation as a result of which
holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash) with respect to or in exchange for such Common Stock; or 
  
 (3) any sale or conveyance of the properties and assets of the Company as, or substantially as, an entirety
to any other corporation as a result of which holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash) with respect to or in exchange for such Common Stock; 
  

 61 

 the Company or the successor or purchasing corporation, as the case may be, shall execute with the Trustee a supplemental
indenture (which shall comply with the Trust Indenture Act as in force at the date of execution of such supplemental indenture, if such supplemental indenture is then required to so comply) providing that such Securities shall be convertible into
the kind and amount of shares of stock and other securities or property or assets (including cash) which such Holder would have been entitled to receive upon such reclassification, change, merger, consolidation, statutory share exchange,
combination, sale or conveyance had such Securities been converted into Common Stock immediately prior to such reclassification, change, merger, consolidation, statutory share exchange, combination, sale or conveyance assuming such holder of Common
Stock did not exercise its rights of election, if any, as to the kind or amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance (provided, that if the kind or
amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance is not the same for each share of Common Stock in respect of which such rights of election shall not have been
exercised (a “Non-Electing Share”), then for the purposes of this Section 9.4, the kind and amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance for
each Non-Electing Share shall be deemed to be the kind and amount so receivable per share by a plurality of the Non-Electing Shares). Such supplemental indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for in this Article IX. If, in the case of any such reclassification, change, merger, consolidation, statutory share exchange, combination, sale or conveyance, the stock or other securities and assets receivable thereupon
by a holder of Common Stock includes shares of stock or other securities and assets of a corporation other than the successor or purchasing corporation, as the case may be, in such reclassification, change, merger, consolidation, statutory share
exchange, combination, sale or conveyance, then such supplemental indenture shall also be executed by such other corporation and shall contain such additional provisions to protect the interests of the Holders of the Securities as the Board of
Directors shall reasonably consider necessary by reason of the foregoing, including to the extent practicable the provisions providing for the conversion rights set forth in this Article IX. 
  
 The Company shall cause notice of the execution of such supplemental
indenture to be mailed to each Holder, at the address of such Holder as it appears on the register of the Securities maintained by the Registrar, within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or
validity of such supplemental indenture. 
  
 The above provisions
of this Section 9.4 shall similarly apply to successive reclassifications, mergers, consolidations, statutory share exchanges, combinations, sales and conveyances. 
  
 If this Section 9.4 applies to any event or occurrence, Section 9.3 shall not apply. Notwithstanding this Section 9.4, if a
Public Acquirer Fundamental Change occurs and the Company elects to adjust the Conversion Rate and its conversion obligation pursuant to Section 9.12, the provisions of Section 9.12 shall apply to the conversion instead of this Section 9.4.

  
 Any Additional Common Stock which a Holder is entitled to
receive upon conversion pursuant to Section 9.1(b), if applicable, shall not be payable in shares of Common Stock, but will represent a right to receive the aggregate amount of cash, securities or other property into 

  

 62 

 
which the Additional Common Stock would convert as a result of such recapitalization, consolidation, merger, share transfer, acquisition or share exchange.

  
 Section 9.5 Notice of Adjustment. Whenever an
adjustment in the Conversion Rate with respect to the Securities is required: 
  
 (1) the Company shall forthwith place on file with the Trustee and any Conversion Agent for such securities a certificate of the Treasurer of the Company, stating the adjusted Conversion Rate determined as provided
herein and setting forth in reasonable detail such facts as shall be necessary to show the reason for and the manner of computing such adjustment; and 
  
 (2) a notice stating that the Conversion Rate has been adjusted and setting forth the adjusted Conversion Rate shall forthwith be given by
the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company, to each Holder in the manner provided in Section 11.2. Any notice so given shall be conclusively presumed to have been duly given, whether
or not the Holder receives such notice. 
  
 In addition, whenever an adjustment in
the Conversion Rate with respect to the Securities is required, the Company will issue a press release through Dow Jones & Company, Inc. containing the relevant information and make this information available on the Company’s web site or
through another public medium as it may use at that time. 
  
 Section 9.6 Notice in Certain Events. In case: 
  
 (1) of a consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or conveyance to another Person or entity or group of Persons or
entities acting in concert as a partnership, limited partnership, syndicate or other group (within the meaning of Rule 13d-3 under the Exchange Act) of all or substantially all of the property and assets of the Company; or 
  
 (2) of the voluntary or involuntary dissolution, liquidation
or winding up of the Company; or 
  
 (3) of any
action triggering an adjustment of the Conversion Rate referred to in clauses (x) or (y) below; 
  
 then, in each case, the Company shall cause to be filed with the Trustee and the Conversion Agent, and shall cause to be given, to the Holders of the Securities in the manner provided in Section 11.2, at least 15 days
prior to the applicable date hereinafter specified, a written notice stating (x) the date on which a record is to be taken for the purpose of any distribution or grant of rights or warrants triggering an adjustment to the Conversion Rate pursuant to
this Article IX, or, if a record is not to be taken, the date as of which the holders of record of Common Stock entitled to such distribution, rights or warrants are to be determined, or (y) the date on which any reclassification, consolidation,
merger, sale, conveyance, dissolution, liquidation or winding up triggering an adjustment to the Conversion Rate pursuant to this Article IX is expected to become effective, and the date as of which it is expected that holders of Common Stock of
record shall be entitled to exchange their Common Stock for securities or other property deliverable 

  

 63 

 
upon such reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up. 
  
 Failure to give such notice or any defect therein shall not affect the
legality or validity of the proceedings described in clause (1), (2) or (3) of this Section 9.6. 
  
 Section 9.7 Company To Reserve Stock; Registration; Listing. 
  
 (a) The Company shall, in accordance with the laws of the State of Delaware, at all times reserve and keep available, free
from preemptive rights, out of its authorized but unissued shares of Common Stock, for the purpose of effecting the conversion of the Securities, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to
effect the conversion of all Securities then outstanding into such Common Stock at any time (assuming that, at the time of the computation of such number of shares or securities, all such Securities would be held by a single Holder);
provided, however, that nothing contained herein shall preclude the Company from satisfying its obligations in respect of the conversion of the Securities by delivery of purchased shares of Common Stock which are then held in the
treasury of the Company. The Company covenants that all shares of Common Stock which may be issued upon conversion of Securities will upon issue be fully paid and nonassessable and free from all liens and charges and, except as provided in Section
9.8, taxes with respect to the issue thereof. 
  
 (b) If any
shares of Common Stock which would be issuable upon conversion of Securities hereunder require registration with or approval of any governmental authority before such shares or securities may be issued upon such conversion, the Company will in good
faith and as expeditiously as possible endeavor to cause such shares or securities to be duly registered or approved, as the case may be. The Company further covenants that so long as the Common Stock shall be listed on The Nasdaq Stock Market,
Inc., the Company will, if permitted by the rules of such exchange, list and keep listed all Common Stock issuable upon conversion of the Securities, and the Company will endeavor to list the shares of Common Stock required to be delivered upon
conversion of the Securities prior to such delivery upon any other national securities exchange upon which the outstanding Common Stock is listed at the time of such delivery. 
  
 Section 9.8 Taxes on Conversion. The issue of stock certificates on conversion of Securities shall be made without
charge to the converting Holder for any documentary, stamp or similar issue or transfer taxes in respect of the issue thereof, and the Company shall pay any and all documentary, stamp or similar issue or transfer taxes that may be payable in respect
of the issue or delivery of shares of Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the issue or delivery of
shares of Common Stock or the portion, if any, of the Securities which are not so converted in a name other than that in which the Securities so converted were registered, and no such issue or delivery shall be made unless and until the Person
requesting such issue has paid to the Company the amount of such tax or has established to the satisfaction of the Company that such tax has been paid. 
  

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 Section 9.9 Conversion After Record Date. Except as provided below, if any Securities are
surrendered for conversion on any day other than an Interest Payment Date, the Holder of such Securities shall not be entitled to receive any interest that has accrued on such Securities since the prior Interest Payment Date. By delivery to the
Holder of the number of shares of Common Stock or other consideration issuable upon conversion in accordance with this Article IX, any accrued and unpaid interest on such Securities will be deemed to have been paid in full. 
  
 If any Securities are surrendered for conversion subsequent to the Record
Date preceding an Interest Payment Date but on or prior to such Interest Payment Date, the Holder of such Securities at the close of business on such Record Date shall receive the interest payable on such Securities on such Interest Payment Date
notwithstanding the conversion thereof. Securities surrendered for conversion during the period from the close of business on any Record Date preceding any Interest Payment Date to the opening of business on such Interest Payment Date (except in the
case of Securities which have been called for redemption on a Redemption Date which is after such Record Date and on or prior to the third Business Day after such Interest Payment Date or if the Company has specified a Fundamental Change Purchase
Date during such period) shall be accompanied by payment by Holders, for the account of the Company, in New York Clearing House funds or other funds of an amount equal to the interest payable on such Interest Payment Date on the Securities being
surrendered for conversion. Except as provided in Section 3.1 or this Section 9.9, no adjustments in respect of payments of interest on Securities surrendered for conversion or any dividends or distributions or interest on the Common Stock issued
upon conversion shall be made upon the conversion of any Securities. 
  
 Section 9.10 Company Determination Final. Any determination that the Company or the Board of Directors must make pursuant to this Article IX shall be conclusive if made in good faith and in accordance with the provisions of this
Article, absent manifest error, and set forth in a Board Resolution. 
  
 Section 9.11 Responsibility of Trustee for Conversion Provisions. The Trustee has no duty to determine whether or when an adjustment under this Article IX should be made, how it should be made or what it should be, and shall have no
duty to determine or verify the amount or nature or any Holder’s conversion privileges pursuant to Sections 9.1, 9.12 or 9.13 (including any related Stock Price or Conversion Obligation); and the Trustee shall be entitled to rely conclusively
on any notice it receives pursuant to this Article IX. The Trustee makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities. The Trustee shall not be responsible for any failure of the
Company to comply with this Article IX. Each Conversion Agent other than the Company shall have the same protection under this Section 9.11 as the Trustee. 
  
 The rights, privileges, protections, immunities and benefits given to the Trustee under the Indenture including, without limitation, its rights to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each Paying Agent or Conversion Agent acting hereunder. 
  

 65 

 Section 9.12 Conversion After a Public Acquirer Fundamental Change. 
  
 (a) In the event of a Public Acquirer Fundamental Change, the Company may, in
lieu of issuing the Additional Common Stock pursuant to Section 9.1(b), elect to adjust the Conversion Rate and the related conversion obligation such that from and after the Effective Date of such Public Acquirer Fundamental Change, Holders of the
Security will be entitled to convert their Security, in accordance with Section 9.2 hereof, into a number of shares of Public Acquirer Common Stock by adjusting the Conversion Rate in effect immediately before the Public Acquirer Fundamental Change
by multiplying it by a fraction: 
  
 (1) the
numerator of which will be (A) in the case of a share exchange, consolidation or merger, pursuant to which the Common Stock is converted into cash, securities or other property, the average value of all cash and any other consideration (as
determined by the Board of Directors) paid or payable per share of Common Stock or (B) in the case of any other Public Acquirer Fundamental Change, the average of the Sale Price of the Common Stock for the five consecutive Trading Days prior to but
excluding the Effective Date of such Public Acquirer Fundamental Change; and 
  
 (2) the denominator of which will be the average of the Sale Prices of the Public Acquirer Common Stock for the five consecutive Trading Days commencing on the Trading Day next succeeding the effective date of such
Public Acquirer Fundamental Change. 
  
 (b) The Company will
notify Holders of its election by providing notice as set forth in Section 9.1(c). 
  
 Section 9.13 Option to Satisfy Conversion Obligation with Cash, Common Stock or Combination Thereof. 
  
 (a) Except to the extent that the Company has irrevocably elected to make a cash payment of principal upon conversion pursuant to 9.13(b), the Company may
elect to deliver either shares of its Common Stock, cash or a combination of cash and shares of Common Stock in satisfaction of the Company’s obligation upon conversion of the Securities (the “Conversion Obligation”). The
Company shall notify the Holder or Holders, as the case may be, either directly or through the Trustee of the method the Company chooses to satisfy its Conversion Obligation, (i) in the Company’s Notice of Redemption, if the Company has called
the Securities for redemption, (ii) 26 Trading Days immediately preceding Stated Maturity in respect of Securities to be converted during the period beginning 25 Trading Days immediately preceding the Stated Maturity and ending one Trading Day
immediately preceding Stated Maturity, and (iii) no later than three Trading Days immediately following the date of conversion in all other cases (such period, the “Settlement Notice Period”). If the Company elects to satisfy any
portion of its Conversion Obligation by delivering cash, the Company shall specify in such notice the portion to be paid in cash either as a percentage of the Conversion Obligation or as the lesser of (a) a fixed dollar amount and (b) the Conversion
Value. The Company shall treat all Holders converting on the same Trading Day in the same manner. The Company shall not have any obligation to satisfy Conversion Obligations arising on different Trading Days in the same manner. 
  

 66 

 If the Company elects to satisfy any portion of the Conversion Obligation in cash (other than cash in
lieu of fractional shares, if applicable), a Holder may retract its conversion notice at any time during the two Trading Day period beginning on the Trading Day after the last Trading Day of the Settlement Notice Period (the “Conversion
Retraction Period”); provided that no such retraction can be made (and a conversion notice shall be irrevocable) (x) if the Holder delivers the conversion notice in connection with a redemption, (y) if the Holder delivers the
conversion notice during the period beginning 25 Trading Days immediately preceding the Stated Maturity and ending one Trading Day immediately preceding the Stated Maturity or (z) if the Company has irrevocably elected pursuant to Section 9.13(b) to
make a cash payment of principal upon conversion before such Holder delivers its conversion notice. No retraction can be made and a conversion notice shall be irrevocable if the Company does not elect to deliver any cash upon conversion. 

 
 With respect to each Holder that exercises its conversion right in
accordance with this Indenture, if such Holder’s conversion notice has not been retracted, assuming all of the other requirements have been satisfied by such Holder, then settlement (a) in Common Stock only shall occur as soon as practicable
after the Company notifies the Holder or Holders that settlement shall be in Common Stock only, and (b) in cash or in a combination of cash and Common Stock shall occur on the third Trading Day following the final Trading Day of the Conversion
Period. 
  
 Settlement amounts shall be computed as follows:

  
 (i) if the Company elects to satisfy the
entire Conversion Obligation in Common Stock, the Company shall deliver to such Holder for each $1,000 principal amount of Securities converted a number of shares of Common Stock equal to the Conversion Rate, including any Additional Common Stock
required pursuant to Section 9.1(b) then in effect on the date of conversion (plus cash in lieu of fractional shares, if applicable, calculated as provided in Section 9.02); 
  
 (ii) if the Company elects to satisfy the entire Conversion Obligation in cash, the Company shall deliver to
such holder for each $1,000 principal amount of Securities converted cash in an amount equal to the Conversion Value; 
  
 (iii) if the Company elects to satisfy the Conversion Obligation in a combination of cash (excluding any cash paid for fractional shares,
if applicable) and Common Stock (including pursuant to Section 9.13(b) hereof), the Company shall deliver to such Holder for each $1,000 principal amount of Securities converted: 
  
 (A) an amount in cash (the “Cash Amount”) equal to (x) the fixed dollar amount per $1,000
principal amount of Securities of the Conversion Obligation to be satisfied in cash specified in the notice regarding the Company’s chosen method of settlement or, if lower, the Conversion Value in cash, or (y) the percentage of the Conversion
Obligation to be satisfied in cash specified in the notice regarding the Company’s chosen method of settlement multiplied by the Conversion Value, as the case may be; and 
  

 67 

 (B) a number of shares of Common Stock for each of the 20 Trading Days in the Conversion
Period equal to 1/20th of (x) the Conversion Rate in effect on that day minus (y) the quotient of the Cash Amount divided by the Applicable Stock Price for that day (plus cash in lieu of fractional shares, if applicable, calculated as provided in
Section 9.02). 
  
 (b) Notwithstanding anything to the contrary in
this Indenture, at any time prior to the 26th Trading Day preceding the Stated Maturity, the Company may irrevocably elect, in its sole discretion without the consent of the Holders of the Securities, by written notice to the Trustee and the Holders
of the Securities, to satisfy in cash the Conversion Obligation with respect to the principal amount of Securities to be converted after the date of such election, with any remaining amount of the Conversion Obligation to be satisfied in shares of
Common Stock. The settlement amount will be computed as described under clause (a)(iii) above, using $1,000 as the fixed dollar amount per $1,000 principal amount of Securities of the Conversion Obligation to be satisfied in cash. 
  
 For purposes of this Section 9.13, the following terms shall have the
meanings indicated: 
  
 (i) “Applicable
Stock Price” on any Trading Day means the Sale Price on that Trading Day or (ii) if such price is not available, the market value per share of the Common Stock on that day as determined by a nationally recognized independent investment banking
firm retained for this purpose by the Company. 
  
 (ii) “Conversion Period” means the 20 Trading Day period: 
  
 (A) beginning on the Redemption Date, if the Company has called the Securities delivered for conversion for redemption; 
  
 (B) beginning on the Stated Maturity, if the Holder delivers the conversion notice during the period beginning 25 Trading Days immediately
preceding the Stated Maturity and ending one Trading Day immediately preceding the Stated Maturity (whether or not the Company has irrevocably elected to make a cash payment of principal upon conversion); 
  
 (C) beginning on the Trading Day following the
Company’s receipt of the Holder’s conversion notice, if the Company has irrevocably elected pursuant to Section 9.13(b) to make a cash payment of principal upon conversion, provided that if the Holder submits its conversion notice
during the period beginning 25 Trading Days immediately preceding the Stated Maturity and ending one Trading Day immediately preceding the Stated Maturity, the Conversion Period shall begin on the Stated Maturity; and 
  
 (D) beginning on the Trading Day following the final Trading
Day of the Conversion Retraction Period, in all other cases. 
  
 (iii) “Conversion Value” for each $1,000 principal amount of Securities being converted means an amount equal to the sum of the daily conversion values for each of the 20 Trading Days in the Conversion
Period, where the “daily conversion value” for any Trading Day equals 1/20th of: 
  
 (A) the Conversion Rate in effect on that day multiplied by 
  
 (B) the Applicable Stock Price on that day, 
  

 68 

 provided that, with respect any conversion (i) during the period beginning 25 Trading Days immediately preceding
the Stated Maturity and ending one Trading Day immediately preceding the Maturity Day or (ii) of a Security called for redemption, if on the Conversion Date the Applicable Stock Price exceeds the then applicable Conversion Price, the Conversion
Value shall not be less than $1,000. 
  
 ARTICLE X.

 SATISFACTION AND DISCHARGE OF INDENTURE 
  

Section 10.1 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect (except as to any surviving rights of
conversion, registration of transfer or exchange of Securities herein expressly provided for and except as further provided below), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when 
  
 (1) either 
  
 (A) all Securities
theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.7 and (ii) Securities for whose payment money has theretofore been deposited
in trust and thereafter repaid to the Company as provided in Section 10.3) have been delivered to the Trustee for cancellation; or 
  
 (B) all such Securities not theretofore delivered to the Trustee for cancellation have become due and payable and the Company has
irrevocably deposited or caused to be irrevocably deposited cash with the Trustee or a Paying Agent (other than the Company or any of its Affiliates) as trust funds in trust for the purpose of and in an amount sufficient to pay and discharge the
entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest (including Liquidated Damages, if any) to the date of such deposit (in the case of Securities which have become due and
payable); 
  
 (2) no Default or Event of Default
has occurred and is continuing on the date of such deposit and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company is a party or by which the Company is bound; 

 
 (3) the Company has paid or caused to be paid all other
sums payable hereunder by the Company; and 
  
 (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein 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 7.7 shall survive and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the provisions of 

  

 69 

 
Sections 2.3 through 2.7, Article III, the last sentence of Section 4.2 and this Article X, shall survive until the Securities have been paid in full.

  
 Section 10.2 Application of Trust Money. Subject to the
provisions of this Article X, the Trustee or a Paying Agent shall hold in trust, for the benefit of the Holders, all money deposited with it pursuant to Section 10.1 and shall apply the deposited money in accordance with this Indenture and the
Securities to the payment of the principal of and interest on the Securities. 
  
 Section 10.3 Repayment to Company. The Trustee and each Paying Agent shall promptly pay to the Company upon request any excess money (i) deposited with them pursuant to Section 10.1 and (ii) held by them at any
time. 
  
 Subject to any applicable abandoned property laws, the
Trustee and each Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years after a right to such money has matured; provided, however, that
the Trustee or such Paying Agent, before being required to make any such payment, may at the expense of the Company cause to be mailed to each Holder entitled to such money notice that such money remains unclaimed and that after a date specified
therein, which shall be at least 30 days from the date of such mailing, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Holders entitled to money must look to the Company for payment as
general creditors unless an applicable abandoned property law designates another person. 
  
 Section 10.4 Reinstatement. If the Trustee or any Paying Agent is unable to apply any money in accordance with Section 10.2 by reason of any legal proceeding or by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to
Section 10.1 until such time as the Trustee or such Paying Agent is permitted to apply all such money in accordance with Section 10.2; provided, however, that if the Company has made any payment of the principal of or interest on any
Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive any such payment from the money held by the Trustee or such Paying Agent. 
  
 ARTICLE XI. 
 MISCELLANEOUS 
  
 Section 11.1 Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required to be included in this Indenture by the TIA, the required
provision shall control. 
  

 70 

 Section 11.2 Notices. Any request, demand, authorization, notice, waiver, consent or communication
shall be in writing and delivered in person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission (confirmed by guaranteed overnight courier) to the following facsimile numbers: 
  
 if to the Company: 
  
 Nabi Biopharmaceuticals 
 5800 Park of Commerce Boulevard N.W. 
 Boca
Raton, Florida 33487 
 Attention: Chief Financial Officer 
 Facsimile No.: (561) 989-5801 
  
 With a copy to (which shall not constitute notice): 
  
 Nutter McClennen & Fish, LLP 
 World Trade Center West 
 155 Seaport Boulevard 
 Boston, Massachusetts
02210 
 Attention: James E. Dawson, Esq. 
 Facsimile No.: (617) 310-9623 
  
 if to the Trustee:

  
 U.S. Bank National Association 
 One Federal Street 
 3rd Floor 
 Boston,
Massachusetts 02110 
 Attention: Corporate Trust Services 
 Facsimile No.: (617) 603-6667 
  
 The Company or the Trustee by notice given to the other in the manner provided above may designate additional or different addresses for subsequent notices or communications. 
  
 Any notice or communication given to a Securityholder shall be mailed to the Securityholder, by first-class mail, postage
prepaid, at the Securityholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
  
 Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with
respect to other Securityholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not received by the addressee; provided that all notices to the Trustee shall be deemed effective upon actual
receipt thereof. 
  
 If the Company mails a notice or
communication to the Securityholders, it shall mail a copy to the Trustee and each Registrar, Paying Agent, Conversion Agent or co-registrar. 
  

 71 

 Section 11.3 Communication by Holders with Other Holders. Securityholders may communicate pursuant
to TIA Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent and anyone else shall have the protection of TIA
Section 312(c). 
  
 Section 11.4 Certificate and Opinion as to
Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture other than such actions specifically permitted to be taken upon a Company Request or Company Order elsewhere in this
Indenture, the Company shall furnish to the Trustee: 
  
 (1) an Officers’ Certificate stating that, in the opinion of the signatories, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
  
 (2) an Opinion of Counsel stating that, in the opinion of
such counsel, all such conditions precedent have been complied with. 
  
 Section 11.5 Statements Required in Certificate or Opinion. Each Officers’ Certificate or Opinion of Counsel with respect to compliance with a covenant or condition provided for in this Indenture shall include: 
  
 (1) a statement that each Person making such Officers’
Certificate or Opinion of Counsel has read such covenant or condition; 
  
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such Officers’ Certificate or Opinion or Counsel are based; 
  
 (3) a statement that, in the opinion of each such Person, he
or she has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (4) a statement that, in the opinion of such Person, such
covenant or condition has been complied with. 
  
 Section 11.6
Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby. 
  
 Section 11.7 Rules by Trustee, Paying Agent,
Conversion Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of Securityholders. The Registrar, the Conversion Agent and the Paying Agent may make reasonable rules for their functions. 
  
 Section 11.8 Legal Holidays. A “Legal Holiday” is any
day other than a Business Day. If any specified date (including a date for giving notice) is a Legal Holiday, the action shall be taken on the next succeeding day that is not a Legal Holiday, and, if the action to be taken on 

  

 72 

 
such date is a payment in respect of the Securities, no interest, if any, shall accrue for the intervening period. 
  
 Section 11.9 Governing Law. THIS INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK. 
  
 Section 11.10 Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
  
 Section 11.11 No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability for
any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such
liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
  
 Section 11.12 Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the
Trustee in this Indenture shall bind its successor. 
  
 Section
11.13 Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture.

  
 Section 11.14 Effect of Headings and Table of Contents.
The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
  

 73 

  
 IN WITNESS WHEREOF, the
undersigned, being duly authorized, have executed this Indenture on behalf of the respective parties hereto as of the date first above written. 
  

			
	NABI BIOPHARMACEUTICALS
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

 74 

  
 EXHIBIT A 

 
 [FORM OF FACE OF GLOBAL SECURITY] 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY 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
THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  
 [THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF: (1) REPRESENTS THAT IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)); (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY OR ANY COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH SECURITY, PRIOR TO THE EXPIRATION OF THE HOLDING PERIOD APPLICABLE TO SALES OF THIS SECURITY UNDER RULE 144(k) UNDER THE SECURITIES ACT (OR ANY SUCCESSOR PROVISION), ONLY
(A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER), (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A, IN COMPLIANCE WITH RULE 144A TO A PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (D) PURSUANT TO ANOTHER 

  

 A-1 

 
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH
OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM; AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THIS SECURITY PURSUANT TO CLAUSE 2(B) ABOVE OR UPON ANY TRANSFER OF THIS SECURITY UNDER RULE 144 UNDER THE SECURITIES
ACT (OR ANY SUCCESSOR PROVISION).] 
  
 [The foregoing legend may
be removed from this Security on satisfaction of the conditions specified in the Indenture.] 
  

 A-2 

  
 Nabi Biopharmaceuticals

  
 2.875% Convertible Senior Notes due 2025 

 

			
	No.:	 	CUSIP:
	Issue Date:	 	Principal Amount: $
	Issue Price: $1,000 (for each $1,000 Principal Amount)	 	 

  
 Nabi
Biopharmaceuticals, a Delaware corporation, promises to pay to                      or registered assigns, the principal amount of dollars
                                
($                    ) on April 15, 2025 or such greater or lesser amount as is indicated on the Schedule of Increases and Decreases of
Global Security attached to this Security. 
  
 Interest Payment
Dates: April 15 and October 15, commencing October 15, 2005. 
  
 Record Dates: April 1 and October 1. 
  
 Reference is
hereby made to the further provisions of this Security set forth on the reverse side of this Security, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 A-3 

  
 IN WITNESS WHEREOF, the
Company has caused this instrument to be duly executed under its corporate seal. 
  
 Dated: 
  

			
	NABI BIOPHARMACEUTICALS
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 U.S. BANK NATIONAL ASSOCIATION
 as Trustee,
certifies that this is one of the Securities referred to in the within mentioned Indenture.

		
	By:	 	 
	 	 	 Authorized Signatory

  
 Dated: 
  

 A-4 

  
 [FORM OF REVERSE OF GLOBAL
SECURITY] 
  
 2.875% Convertible Senior Notes due 2025

  
 This Security is one of a duly authorized issue of the
2.875% Convertible Senior Notes due 2025 (the “Securities”) of Nabi Biopharmaceuticals, a Delaware corporation (including any successor corporation under the Indenture hereinafter referred to, the “Company”), issued
under an Indenture, dated as of April 19, 2005 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). The terms of the Security include those stated in the Indenture,
those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”), and those set forth in this Security. This Security is subject to all such terms, and Holders are referred to the Indenture and
the TIA for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Security and the terms of the Indenture, the terms of the Indenture shall control. Capitalized terms
used but not defined herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
  

	1.	Interest. 

  
 The Company promises to pay interest on the principal amount of the Securities at the interest rate of 2.875% per annum (the “Interest
Rate”) from the date of issuance until repayment in full at April 15, 2025, or until an earlier conversion, redemption or repurchase. The Company will pay interest on this Security semi-annually in arrears on April 15 and October 15 of each
year (each, an “interest payment date”), commencing October 15, 2005. 
  
 The Securities shall bear interest from April 19, 2005 until the principal amount thereof is paid or made available for payment, or until such date on which the Securities are converted, redeemed or purchased as
provided herein at the Interest Rate. 
  
 Interest on the
Securities shall be computed (i) for any full semi-annual period for which the Interest Rate is applicable, on the basis of a 360-day year of twelve 30-day months and (ii) for any period for which the Interest Rate is applicable for less than a full
semi-annual period for which interest is calculated, on the basis of a 30-day month and, for such periods of less than a month, the actual number of days elapsed over a 30-day month. 
  
 If this Security is redeemed or repurchased by the Company on a date that is after the record date and on or prior to the
corresponding interest payment date, interest and Liquidated Damages, if any, accrued and unpaid hereon to but not including the applicable Redemption Date, Repurchase Date or Fundamental Change Purchase Date, as the case may be, will be paid to the
same Holder to whom the Company pays the principal of this Security. 
  
 Interest on Securities converted after a record date but prior to the corresponding interest payment date will be paid to the Holder of the Securities on the record date but, upon conversion, the Holder must pay the Company the interest and
Liquidated Damages, if any, which have accrued and will be paid on such interest payment date; provided, that no such payment need be made with respect to Securities which will be redeemed or repurchased by the Company after a record date and
on or prior to the third Business Day after the corresponding interest payment date. 
  

 A-5 

 If the principal amount hereof or any portion of such principal amount or any interest, including
Liquidated Damages, if any, on any Security is not paid when due (whether upon acceleration pursuant to Section 6.2 of the Indenture, upon the date set for payment of the Redemption Price pursuant to Section 3.1 of the Indenture or the Repurchase
Price or the Fundamental Change Purchase Price pursuant to Section 3.7 or Section 3.11 of the Indenture, as the case may be, or upon the Stated Maturity of this Security), then in each such case the overdue amount shall, to the extent permitted by
law, bear interest at the Interest Rate, compounded semi-annually, which interest shall accrue from the date on which such overdue amount was originally due until the date on which payment of such amount, including interest thereon, has been made or
duly provided for. All such interest shall be payable on demand. 
  

	2.	Method of Payment. 

  
 Except as provided below, interest will be paid (i) on the Global Securities to The Depository Trust Company (“DTC”) or its nominee in
immediately available funds, (ii) on any definitive Securities having an aggregate principal amount of $2,000,000 or less, by check mailed to the Holders of such Securities, and (iii) on any definitive Securities having an aggregate principal amount
of more than $2,000,000, by wire transfer in immediately available funds at the election of the Holders of such Securities. 
  
 At Stated Maturity, the Company will pay interest on definitive Securities at the Company’s office or agency in New York City, which initially will
be the corporate trust office of U.S. Bank National Association, in New York City. 
  
 Principal on Global Securities will be paid to DTC or its nominee in immediately available funds. Principal on definitive Securities will be payable, upon Stated Maturity or when due, at the office or agency of the
Company in New York City, maintained for such purpose, initially the corporate trust office of U.S. Bank National Association, in New York City. 
  
 Subject to the terms and conditions of the Indenture, the Company will make payments in cash in respect of Redemption Prices, Repurchase Prices,
Fundamental Change Purchase Prices and at Stated Maturity to Holders who surrender Securities to a Paying Agent to collect such payments in respect of the Securities. 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. However, the Company may make such cash payments by check payable in such money, subject to the terms of the Indenture. 
  

	3.	Paying Agent, Conversion Agent and Registrar. 

  
 Initially, U.S. Bank National Association will act as Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent,
Conversion Agent or Registrar without notice, other than notice to the Trustee; provided that the Company will maintain at least one Paying Agent in the State of New York, City of New York, Borough of Manhattan, which shall initially be an
office or agency of the Trustee. The Company or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Conversion Agent or Registrar. 
  

 A-6 

	4.	Indenture. 

  
 The Securities are senior unsecured obligations of the Company initially limited to $100,000,000 aggregate principal amount (or such greater amount
necessary to reflect the exercise by the Initial Purchasers of their option to purchase additional Securities in compliance with the Purchase Agreement, but not in excess of $120,000,000). 
  
 The Company may, without the consent of the Holders of the Securities,
increase the Principal Amount of the Securities by issuing additional securities in the future on the same terms and conditions, except for any differences in the issue price and interest accrued prior to the issue date of the additional securities,
provided, that such difference does not cause the additional securities to constitute a different class of securities than the Securities for U.S. federal income tax purposes, and provided further, that the additional securities have the same CUSIP
number as the Securities. The Securities and any additional securities would rank equally and ratably and would be treated as a single class for all purposes under the Indenture. No additional securities may be issued if any Event of Default has
occurred with respect to the Securities. The Indenture does not limit other indebtedness of the Company, secured or unsecured. 
  

	5.	Redemption at the Option of the Company. 

  
 No sinking fund is provided for the Securities. The Securities are not redeemable by the Company prior to April 18, 2010. On or after April 18, 2010, the
Securities will be redeemable for cash at the option of the Company, in whole or in part, at any time or from time to time, upon not less than 30 nor more than 60 days’ notice by mail for a redemption price equal to the principal amount of
those Securities plus accrued and unpaid interest, including Liquidated Damages, if any, on those Securities to, but not including, the Redemption Date (the “Redemption Price”) as set forth in the Indenture. 
  

	6.	Purchase By the Company at the Option of the Holder. 

  
 Subject to the terms and conditions of the Indenture, the Company shall become obligated to purchase, at the option of the Holder, the Securities held by
such Holder on April 15, 2010, April 15, 2012, April 15, 2015 and April 15, 2020 at a Repurchase Price equal to the principal amount of such Securities on the applicable Repurchase Date plus accrued and unpaid interest, including Liquidated Damages,
if any, to, but not including, the Repurchase Date, upon delivery of a Repurchase Notice containing the information set forth in the Indenture, at any time from the opening of business on the date that is 20 Business Days prior to such Repurchase
Date until the close of business on the Business Day preceding such Repurchase Date and upon delivery of the Securities or the required transfer to the Paying Agent by the Holder as set forth in the Indenture. 
  
 At the option of the Holder and subject to the terms and conditions of the
Indenture, the Company shall become obligated to offer to purchase the Securities held by such Holder for a Fundamental Change Purchase Price equal to the principal amount of such Securities plus accrued and unpaid interest, including Liquidated
Damages, if any, to, but not including, the Fundamental Change Purchase Date. The Fundamental Change Purchase Date, which shall be determined by the Company, shall be between 30 and 60 days of the Company’s delivery of the 

  

 A-7 

 
notice describing such Fundamental Change and the resulting repurchase right. The Fundamental Change Purchase Price shall be paid in accordance with the
Indenture. 
  
 Holders have the right to withdraw any Repurchase
Notice or Fundamental Change Purchase Notice, as the case may be, by delivering to the Paying Agent a written notice of withdrawal in accordance with the provisions of the Indenture. 
  
 If cash sufficient to pay the Repurchase Price or the Fundamental Change Purchase Price, as the case may be, of all
Securities, or portions thereof to be purchased as of the Repurchase Date or the Fundamental Change Purchase Date, as the case may be, is deposited with the Paying Agent on the Business Day following the Repurchase Date or the Fundamental Change
Purchase Date, as the case may be, interest will cease to accrue on such Securities (or portions thereof) immediately after such Repurchase Date or Fundamental Change Purchase Date, as the case may be, and the Holder thereof shall have no other
rights as such other than the right to receive the Repurchase Price or the Fundamental Change Purchase Price upon surrender of such Security. 
  

	7.	Notice of Redemption. 

  
 Notice of redemption pursuant to Section 3.1 of the Indenture of this Security will be mailed at least 30 days but not more than 60 days before the
Redemption Date to each Holder of Securities to be redeemed at the Holder’s registered address. If money sufficient to pay the Redemption Price of all Securities (or portions thereof) to be redeemed on the Redemption Date is deposited with the
Paying Agent prior to or on the Redemption Date, immediately after such Redemption Date interest ceases to accrue on such Securities or portions thereof. Securities in denominations larger than $1,000 of principal amount may be redeemed in part but
only in integral multiples of $1,000 of principal amount. 
  

	8.	Conversion. 

  
 Subject to and in compliance with the provisions of the Indenture, a Holder is entitled, at such Holder’s option, to convert the Holder’s
Security (or any portion of the principal amount thereof that is $1,000 or an integral multiple of $1,000), into fully paid and nonassessable shares of Common Stock at the Conversion Rate in effect at the time of conversion, subject to the
Company’s right to deliver cash in lieu of Common Stock. 
  
 A Security in respect of which a Holder has delivered a Fundamental Change Purchase Notice, exercising the option of such Holder to require the Company to purchase such Security, may be converted only if such Fundamental Change Purchase
Notice is withdrawn in accordance with the terms of the Indenture. 
  
 The initial Conversion Rate is 69.8348 shares per $1,000 principal amount of securities, subject to adjustment in certain events described in the Indenture. No fractional shares of Common Stock shall be issued upon conversion of any
Security. A Holder that surrenders Securities for conversion will receive cash in lieu of any fractional share of Common Stock. 
  
 To surrender a Security for conversion, a Holder must (i) complete and manually sign the conversion notice below (or complete and manually sign a
facsimile of such notice), (ii) deliver such completed notice and surrender the Security to the Conversion Agent and, (iii) pay all 

  

 A-8 

 
funds required and furnish appropriate endorsements and transfer documents and (iv) pay any transfer or similar tax, if required by the Indenture.

  
 If the Company (i) is a party to a consolidation, merger or
binding share exchange, (ii) reclassifies the Common Stock or (iii) conveys, transfers or leases its properties and assets substantially as an entirety to any Person, the right to convert a Security into shares of Common Stock shall be changed into
a right to convert it into securities, cash or other assets of the Company or such other Person, in each case in accordance with the Indenture. 
  
 The Company may elect to deliver either shares of its Common Stock, cash or a combination of cash and shares of Common Stock in satisfaction of the
Company’s Conversion Obligation. The Company shall notify the Holder or Holders, as the case may be, through the Trustee of the method the Company chooses to satisfy its Conversion Obligation, (i) in the Company’s Notice of Redemption, if
the Company has called the Securities for redemption, (ii) 26 Trading Days immediately preceding Stated Maturity in respect of Securities to be converted during the period beginning 25 Trading Days immediately preceding the Stated Maturity and
ending one Trading Day immediately preceding Stated Maturity, and (iii) no later than three Trading Days immediately following the date of conversion in all other cases. If the Company elects to satisfy any portion of its Conversion Obligation by
delivering cash, the Company shall specify in such notice the portion to be paid in cash either as a percentage of the Conversion Obligation or as the lesser of (a) a fixed dollar amount and (b) the Conversion Value. The Company shall treat all
Holders converting on the same Trading Day in the same manner. The Company shall not have any obligation to satisfy Conversion Obligations arising on different Trading Days in the same manner. 
  
 At any time prior to the 26th Trading Day preceding the Stated Maturity, the
Company may irrevocably elect, in its sole discretion without the consent of the Holders of the Notes, by written notice to the Trustee and the Holders of the Notes, to satisfy in cash the Conversion Obligation with respect to the principal amount
of Notes to be converted after the date of such election, with any remaining amount of the Conversion Obligation to be satisfied in shares of Common Stock. The settlement amount will be computed as described under Section 9.13(a)(iii) of the
Indenture, using the $1,000 as the fixed dollar amount per $1,000 principal amount of Notes of the Conversion Obligation to be satisfied in cash. 
  

	9.	Denominations; Transfer; Exchange. 

  
 The Securities are in fully registered form, without coupons, in denominations of $1,000 of principal amount and integral multiples of $1,000. A Holder
may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by
the Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities in respect of which a
Fundamental Change Purchase Notice has been given and not withdrawn (except, in the case of a Security to be purchased in part, the portion of the Security not to be purchased) or to issue, register the transfer of, or exchange any Securities for a
period of 15 days before the redemption date. 
  

 A-9 

	10.	Persons Deemed Owners. 

  
 The registered Holder of this Security may be treated as the owner of this Security for all purposes. 
  

	11.	Unclaimed Money or Securities. 

  
 The Trustee and the Paying Agent shall return to the Company upon written request any money held by them for the payment of any amount with respect to the
Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders entitled to the money or securities must look to the Company for payment as general creditors unless an applicable
abandoned property law designates another Person. 
  

	12.	Amendment; Waiver. 

  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at
least a majority in aggregate principal amount of the outstanding Securities and (ii) certain Defaults may be waived with the written consent of the Holders of a majority in aggregate principal amount of the outstanding Securities. The Indenture and
the Securities may also be amended by the Company and the Trustee, without the consent of any Holder, in certain circumstances set forth in the Indenture; provided, that certain provisions of the Indenture and the Securities may not be
amended without the consent of each affected Holder. 
  

	13.	Defaults and Remedies. 

  
 If any Event of Default with respect to Securities shall occur and be continuing, the principal of all the Securities may be declared due and payable in
the manner and with the effect provided in the Indenture. 
  

	14.	Trustee Dealings with the Company. 

  
 Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or
pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. 
  

	15.	No Recourse Against Others. 

  
 A director, officer, employee or shareholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities
or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration
for the issue of the Securities. 
  

 A-10 

	16.	Treatment of Securities. 

  
 Each holder, by acceptance of a Security, and beneficial owner, by acceptance of a beneficial ownership interest in a Security, agrees to treat the
Securities as indebtedness of the Company for U.S. federal income tax purposes and to not take any action inconsistent with such treatment. 
  

	17.	Authentication. 

  
 This Security shall not be valid until an authorized signatory of the Trustee manually signs the Trustee’s Certificate of Authentication on the other
side of this Security. 
  

	18.	Abbreviations. 

  
 Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  

	19.	GOVERNING LAW. 

  
 THIS SECURITY AND THE INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK. 
  
 The Company will furnish to any Securityholder upon written request and
without charge a copy of the Indenture which has in it the text of this Security. Requests may be made to: 
  
 Nabi Biopharmaceuticals 
 5800 Park of
Commerce Boulevard N.W. 
 Boca Raton, FL 33487 
 Attention: Chief Financial Officer 
 Facsimile No.: (561) 989-5801 
  

	20.	Registration Rights. 

  
 The Holders of any Restricted Security are entitled to the benefits of the Registration Rights Agreement, dated as of April 19, 2005, among the Company
and the Initial Purchasers, including the receipt of Liquidated Damages upon a registration default (as defined in such agreement). 
  

 A-11 

			
	 ASSIGNMENT FORM

	  	 CONVERSION NOTICE

	To assign this Security, fill in the form below:	  	To convert this Security into Common Stock of the Company, check the box  ̈
		
	I or we assign and transfer this Security to	  	To convert only part of this Security, state the principal amount to be converted (which must be $1,000 or an integral multiple of $1,000):
	(Insert assignee’s soc. sec. or tax ID no.)	  	 
	 	  	$
	(Print or type assignee’s name, address and zip code)	  	 
	 	  	If you want the stock certificate made out in another person’s name fill in the form below:
	and irrevocably appoint ________________________ agent to transfer this Security on the books of the Company. The agent may substitute another to act for him.	  
	  	 
	  	 
	 	  	(Insert the other person’s soc. sec. or tax ID no.)
	Date: ______________         Your Signature:	  	 
		
	________________________________________________	  	________________________________________________
		
	(Sign exactly as your name appears on the other side of this Security)	  	(Print or type other person’s name, address and zip code)
		
	Signature Guaranteed	  	 
		
	________________________________________________	  	________________________________________________

  

			
	Participant in a Recognized Signature Guarantee Medallion Program
		
	By:	 	 
	 	 	 Authorized Signatory

  

 A-12 

  
 SCHEDULE OF INCREASES AND
DECREASES OF GLOBAL SECURITY 
  
 Initial Principal Amount of
Global Security: ($100,000,000). 
  

									
	 Date

	 	 Amount of Increase in
Principal Amount of Global
Security

	 	 Amount of Decrease in
Principal Amount of Global
Security

	  	Principal Amount of
Global Security After
Increase or Decrease

	  	Notation by Registrar or
Security Custodian

	 	 	 	 	 	  	 	  	 

  

 A-13 

  
 EXHIBIT B 

 
 [FORM OF FACE OF CERTIFICATED SECURITY] 
  
 [THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF: (1) REPRESENTS THAT IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)); (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY OR ANY COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH SECURITY, PRIOR TO THE EXPIRATION OF THE HOLDING PERIOD APPLICABLE TO SALES OF THIS SECURITY UNDER RULE 144(k) UNDER THE SECURITIES ACT (OR ANY SUCCESSOR PROVISION), ONLY
(A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER), (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A, IN COMPLIANCE WITH RULE 144A TO A PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
TRANSFER PURSUANT TO CLAUSE (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM; AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE
SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THIS SECURITY PURSUANT TO CLAUSE 2(B) ABOVE OR UPON ANY TRANSFER OF THIS SECURITY UNDER RULE 144 UNDER THE SECURITIES ACT (OR ANY SUCCESSOR
PROVISION).] 
  
 [The foregoing legend may be removed from this
Security on satisfaction of the conditions specified in the Indenture.] 
  

 B-1 

  
 Nabi Biopharmaceuticals

  
 2.875% Convertible Senior Notes due 2025 

 

			
	No.:	 	CUSIP:
	Issue Date:	 	Principal Amount: $
	Issue Price: $1,000 (for each $1,000 Principal Amount)	 	 

  
 Nabi
Biopharmaceuticals, a Delaware corporation, promises to pay to                      or registered assigns, the principal amount of dollars
                                
($                    ) on April 15, 2025. 
  
 Interest Payment Dates: April 15 and October 15, commencing October 15, 2005. 
  
 Record Dates: April 1 and October 1. 
  
 Reference is hereby made to the further provisions of this Security set forth on the reverse side of this Security, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 B-2 

  
 IN WITNESS WHEREOF, the
Company has caused this instrument to be duly executed under its corporate seal. 
  
 Dated: 
  

			
	NABI BIOPHARMACEUTICALS
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 U.S. BANK NATIONAL ASSOCIATION
 as Trustee,
certifies that this is one of the Securities referred to in the within mentioned Indenture.

		
	By:	 	 
	 	 	 Authorized Signatory

  
 Dated: 
  

 B-3 

  
 [FORM OF REVERSE OF
CERTIFICATED SECURITY 
 IS IDENTICAL TO EXHIBIT A 
  
 EXCEPT NO SCHEDULE OF INCREASES AND DECREASES] 
  

 B-4 

  
 EXHIBIT C 
  
 2.875% Convertible Senior Notes due 2025 
  
 Transfer Certificate 
  
 This Transfer Certificate is delivered in connection with a transfer of the
above-referenced Notes pursuant to the Indenture defined below. In connection with any transfer of any of the Securities or beneficial interest in a Global Security that is a Restricted Security within the period prior to the expiration of the
holding period applicable to the sales thereof under Rule 144(k) under the Securities Act of 1933, as amended (the Securities Act) (or any successor provision), the undersigned registered owner or beneficial owner of this Security hereby certifies
with respect to $                     principal amount of the above-captioned Securities (the “Surrendered Securities”)
presented or surrendered on the date hereof for registration of transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered in a name other than that of the undersigned registered or
beneficial owner (each such transaction being a “transfer”), that such transfer complies with the restrictive legend set forth on the face of the Surrendered Securities for the reason checked below: 
  

	 	 ̈	A transfer of the Surrendered Securities is made to the Company or any subsidiaries; or 

  

	 	 ̈	The transfer of the Surrendered Securities complies with Rule 144A under the Securities Act; or 

  

	 	 ̈	The transfer of the Surrendered Securities is pursuant to an effective registration statement under the Securities Act; or 

  

	 	 ̈	The transfer of the Surrendered Securities is pursuant to another available exemption from the registration requirement of the Securities Act; 

  
 and unless the box below is checked, the undersigned confirms that, to the
undersigned’s knowledge, such Securities are not being transferred to an “affiliate” of the Company as defined in Rule 144 under the Securities Act (an “Affiliate”). 
  

	 	 ̈	The transferee is an Affiliate of the Company. 

  
 The undersigned acknowledges and agrees that this Transfer Certificate may be relied upon by Nabi Biopharmaceuticals (the “Company”) and U.S.
Bank National Association, as trustee (the “Trustee”) under the Indenture dated as of April 19, 2005 (the “Indenture”) by and between the Company and the Trustee. Any capitalized terms used by not otherwise expressly defined
herein shall have the meaning assigned thereto in the Indenture. 
  
 Dated:
                    , 200   
  

 C-1 

  

	
	
	 
	Signature(s)

  

	
	Signature Guarantee:
	
	  
	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor acceptable to the Trustee.

  

 C-2Registration Rights Agreement

 EXHIBIT 4.6 
  

$100,000,000 
  
 NABI BIOPHARMACEUTICALS 
  
 2.875% Convertible Senior Notes due 2025 
  
 Registration Rights Agreement 
  
 April 19, 2005 
  
 Lehman
Brothers Inc. 
 As Representative of the Initial Purchasers 
     c/o Lehman Brothers Inc. 
 745 Seventh Avenue 
 New York, NY 10019 
  
 Ladies and Gentlemen:

  
 Nabi Biopharmaceuticals, a Delaware corporation (the
“Company”), proposes to issue and sell to the Purchasers (as defined herein) on the terms set forth in the Purchase Agreement (as defined herein) its 2.875% Convertible Senior Notes due 2025 (the “Securities”). As an inducement
to the Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder, the Company agrees with the Purchasers for the benefit of themselves and the Holders (as defined herein) from
time to time of the Registrable Securities (as defined herein) as follows: 
  
 1. Definitions. 
  
 (a)
Capitalized terms used herein without definition shall have the meanings ascribed to them in the Purchase Agreement. As used in this Agreement, the following defined terms shall have the following meanings: 
  
 “Affiliate” of any specified person means any other person
that, directly or indirectly, is in control of, is controlled by, or is under common control with such specified person. For purposes of this definition, control of a person means the power, direct or indirect, to direct or cause the direction of
the management and policies of such person whether by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Closing Date” means the First Delivery Date as defined in the Purchase Agreement. 
  

 “Commission” means the United States Securities and Exchange Commission, or any other
federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 
  
 “Common Stock” means the Company’s common stock, par value $.10 per share. 
  
 “DTC” means The Depository Trust Company. 
  
 “Effectiveness Period” has the meaning assigned thereto in
Section 2(b)(i) hereof. 
  
 “Effective Time”
means the time at which the Commission declares the Shelf Registration Statement effective or at which the Shelf Registration Statement otherwise becomes effective. 
  
 “Electing Holder” has the meaning assigned thereto in Section 3(a)(ii) hereof. 
  
 “Exchange Act” means the United States Securities Exchange
Act of 1934, as amended. 
  
 “Holder” means any
person that is the record owner of Registrable Securities (and includes any beneficial owner recorded on the books of any direct or indirect DTC participant of any Registrable Security in book-entry form). 
  
 “Indemnified Person” has the meaning assigned thereto in
Section 5(a) hereof. 
  
 “Indenture” means the
Indenture, dated as of April 19, 2005, between the Company and U.S. Bank National Association, as amended and supplemented from time to time in accordance with its terms. 
  
 “Liquidated Damages” has the meaning assigned thereto in Section 6(a) hereof. 
  
 “Notice and Questionnaire” means a Selling Securityholder
Notice and Questionnaire attached as Appendix A to the Offering Memorandum dated April 13, 2005 relating to the Securities. 
  
 The term “person” means an individual, partnership, corporation, trust or unincorporated organization, or a government or agency or
political subdivision thereof. 
  
 “Prospectus”
means the prospectus (including, without limitation, any preliminary prospectus, any final prospectus and any prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance
upon Rule 430A under the Securities Act) included in the Shelf Registration Statement, as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by the
Shelf Registration Statement and by all other amendments and supplements to such prospectus, including all material incorporated by reference in such prospectus and all documents filed after the date of such prospectus by the Company under the
Exchange Act and incorporated by reference therein. 
  

 “Purchase Agreement” means the purchase agreement, dated as of April 13, 2005, between
the Purchasers and the Company relating to the Securities. 
  
 “Purchasers” means the Initial Purchasers named in Schedule 1 of the Purchase Agreement. 
  
 “Registrable Securities” means all or any portion of the Securities issued from time to time under the Indenture in registered form and
the shares of Common Stock issuable upon conversion, repurchase or redemption of such Securities; provided, however, that a security ceases to be a Registrable Security when it is no longer a Restricted Security. 
  
 “Registration Default” has the meaning assigned thereto in
Section 6(a) hereof. 
  
 “Restricted Security”
means any Security or share of Common Stock issuable upon conversion thereof except any such Security or share of Common Stock that (i) has been effectively registered under the Securities Act and sold in a manner contemplated by the Shelf
Registration Statement, (ii) has been transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or is transferable pursuant to paragraph (k) of such Rule 144 (or any successor provision thereto), or (iii)
has otherwise been transferred and a new Security or share of Common Stock not subject to transfer restrictions under the Securities Act has been delivered by or on behalf of the Company in accordance with the Indenture. 
  
 “Rules and Regulations” means the published rules and
regulations of the Commission promulgated under the Securities Act or the Exchange Act, as in effect at any relevant time. 
  
 “Securities Act” means the United States Securities Act of 1933, as amended. 
  
 “Shelf Registration” means a registration effected pursuant
to Section 2 hereof. 
  
 “Shelf Registration
Statement” means a “shelf” registration statement filed under the Securities Act providing for the registration of and the sale on a continuous or delayed basis by the Holders of the Registrable Securities pursuant to Rule 415
under the Securities Act and/or any similar rule that may be adopted by the Commission, filed by the Company pursuant to the provisions of Section 2 of this Agreement, including the Prospectus contained therein, any amendments and supplements to
such registration statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, or any successor thereto, and the rules, regulations and forms promulgated
thereunder, as the same shall be amended from time to time. 
  
 The term “underwriter” means any underwriter of Registrable Securities in connection with an offering thereof under a Shelf Registration Statement. 
  
 (b) Wherever there is a reference in this Agreement to a percentage of the “principal amount” of Registrable
Securities or to a percentage of Registrable Securities, Common Stock shall 

  

 
be treated as representing the principal amount of Securities that were surrendered for conversion or exchange in order to receive such number of shares of
Common Stock. 
  
 2. Shelf Registration. 
  
 (a) The Company shall use its reasonable best efforts to file, no later than
90 calendar days following the Closing Date, with the Commission a Shelf Registration Statement relating to the offer and sale of the Registrable Securities by the Holders from time to time in accordance with the methods of distribution elected by
such Holders and set forth in such Shelf Registration Statement and, thereafter, shall use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective under the Securities Act no later than 180 calendar days
following the Closing Date; provided, however, that no Holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the Prospectus forming a part thereof for resales of Registrable
Securities unless such Holder is an Electing Holder. 
  
 (b) The
Company shall use its reasonable best efforts: 
  
 (i) to keep the Shelf Registration Statement continuously effective in order to permit the Prospectus forming a part thereof to be usable by Holders from the Effective Time until the earliest of (1) the date when all of the Registrable
Securities have ceased to be outstanding (whether as a result of redemption, repurchase and cancellation, conversion or otherwise or as a result of their ceasing to be Restricted Securities), (2) the sale pursuant to the Shelf Registration Statement
of all of the Registrable Securities, and (3) the date when the Holders of the Registrable Securities are able to sell all such securities immediately without restriction pursuant to Rule 144(k) under the Securities Act or any successor rule thereto
or otherwise (such period being referred to herein as the “Effectiveness Period”); and 
  
 (ii) if at any time prior to or during the Effectiveness Period the Securities, pursuant to Article 9 of the Indenture, are convertible
into securities other than Common Stock, to cause, or to cause any successor under the Indenture to cause, such securities to be included in the Shelf Registration Statement no later than the date on which the Securities may then be convertible into
such other securities. 
  
 (c) The Company may suspend the use of
the Prospectus for no more than an aggregate of 45 days in any 90-day period and for no more than an aggregate of 90 days in any 360-day period if the Board of Directors of the Company, or the Chief Executive Officer or the Chief Financial Officer
of the Company, shall have determined in good faith that (i) because of an event that is pending or has occurred and is continuing, including, without limitation, the acquisition or divestiture of assets, pending corporate, clinical or regulatory
developments, public filings with the Commission and similar events, the Prospectus would contain a material misstatement or omission and (ii) the disclosure of the event would have an adverse effect on the Company and its subsidiaries, 

  

 
provided that prior to suspending such use the Company provides the Electing Holders with written notice of such suspension, which notice need not specify
the nature of the event giving rise to such suspension. However, if the suspension relates to a previously undisclosed proposed or pending material business transaction, the disclosure of which would impede the Company’s ability to consummate
such transaction, the Company may extend the suspension period from 45 days to 60 days. Each Electing Holder shall hold in confidence any notice or other communication issued in connection with the suspension of the Prospectus. 
  
 3. Registration Procedures. In connection with the Shelf Registration
Statement, the following provisions shall apply: 
  
 (a) (i) Not
less than 10 business days prior to the Effective Time of the Shelf Registration Statement, the Company shall deliver the Notice and Questionnaire to the Holders of Registrable Securities. No Holder shall be entitled to be named as a selling
securityholder in the Shelf Registration Statement as of the Effective Time, and no Holder shall be entitled to use the Prospectus forming a part thereof for offers and resales of Registrable Securities at any time, unless such Holder has returned a
completed and signed Notice and Questionnaire to the Company by the deadline for response set forth therein; provided, however, Holders of Registrable Securities shall have at least 10 business days from the date on which the Notice and
Questionnaire is first delivered to such Holders to return a completed and signed Notice and Questionnaire to the Company. Notwithstanding the foregoing, upon the request of any Holder of Registrable Securities that did not return a Notice and
Questionnaire on a timely basis or did not receive a Notice and Questionnaire because it was a subsequent transferee of Registrable Securities after the Company mailed the Notice and Questionnaire, (x) the Company shall distribute a Notice and
Questionnaire to such Holder at the address set forth in the request and (y) within 30 calendar days after such request and upon receipt of a properly completed Notice and Questionnaire from such Holder, the Company shall use its reasonable best
efforts to name such Holder as a selling securityholder in the Shelf Registration Statement by means of amendments or, if permitted by the Commission, by means of Prospectus supplements to the Shelf Registration Statement. Notwithstanding any of the
foregoing, the Company will only be obligated to file a post-effective amendment more than once in any 90-day period when the principal amount of Registrable Securities to be covered by such amendment is more than $5 million. For purposes of the
foregoing sentence, the principal amount of any shares of Common Stock constituting Registrable Securities shall be deemed to be that number of shares of Common Stock multiplied by a fraction, the numerator of which is $1,000 and the denominator of
which is the then-current conversion rate. The Company will pay Liquidated Damages described below in Section 6(a) to a Holder if the Company fails to make a filing in the time required with respect to such Holder. 
  
 (ii) The term “Electing Holder” shall mean any
Holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(a)(i) hereof. 
  

 (b) The Company shall furnish to the Electing Holder, prior to the Effective Time, a copy of the Shelf
Registration Statement as initially filed with the Commission and, if such Electing Holder so requests in writing, copies of each amendment thereto. Prior to the Effective Time, the Company shall use its reasonable best efforts to take into account
and reflect in an amendment to the Shelf Registration Statement any comments on the Shelf Registration Statement as initially filed that the Electing Holders and their counsel reasonably may propose. 
  
 (c) The Company shall as promptly as reasonably practicable take such action
as may be necessary so that (i) each of the Shelf Registration Statement and any amendment thereto and the Prospectus forming a part thereof and any amendment or supplement thereto (and each report or other document incorporated therein by reference
in each case) complies as to form in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations thereunder, (ii) each of the Shelf Registration Statement and any amendment thereto does not, when it
becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) each of the Prospectus forming a part of the Shelf
Registration Statement, and any amendment or supplement to such Prospectus, does not at any time during the Effectiveness Period include an untrue statement of a material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (d) The Company shall as promptly as reasonably practicable advise each Electing Holder, and shall confirm such advice in writing if so requested by any
such Electing Holder: 
  
 (i) when a Shelf
Registration Statement and any amendment thereto has been filed with the Commission and when a Shelf Registration Statement or any post-effective amendment thereto has become effective; 
  
 (ii) of any request by the Commission during the Effective Period for amendments or supplements to the Shelf
Registration Statement or the Prospectus included therein or for additional information; 
  
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Shelf Registration Statement or the
initiation of any proceedings for such purpose; 
  
 (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of the securities included in the Shelf Registration Statement for sale in any jurisdiction; and 
  
 (v) of the happening of any event or the existence of any
state of facts (but not as to the substance of any such event or such state of facts) that requires the making of any changes in the Shelf Registration Statement or the Prospectus included therein so that, as of such date, such Shelf Registration
Statement and Prospectus do not contain an untrue statement of a material fact and do not omit to state a material fact required to be stated 

  

 
therein or necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading
(which advice shall be accompanied by an instruction to such Electing Holders to suspend the use of the Prospectus until the requisite changes have been made). 
  

(e) The Company shall use its reasonable best efforts to prevent the issuance, and if issued to obtain the withdrawal at the earliest possible time, of
any order suspending the effectiveness of the Shelf Registration Statement. 
  
 (f) The Company shall furnish to each Electing Holder, without charge, at least one copy of the Shelf Registration Statement, each post-effective amendment thereto, including financial statements and schedules, and
any Prospectus supplement in which such Electing Holder is named as a selling securityholder and, if such Electing Holder so requests in writing, all reports, other documents and exhibits that are filed with or incorporated by reference in the Shelf
Registration Statement. 
  
 (g) The Company shall, during the
Effectiveness Period, deliver to each Electing Holder, without charge, as many copies of the Prospectus included in the Shelf Registration Statement and any amendment or supplement thereto as such Electing Holder may reasonably request; and the
Company consents (except during the periods specified in Section 2(c) above or during the continuance of any event described in Section 3(d)(v) above) to the use of the Prospectus and any amendment or supplement thereto by each of the Electing
Holders in connection with the offer and sale of the Registrable Securities covered by the Prospectus and any amendment or supplement thereto during the Effectiveness Period. 
  
 (h) Prior to any offering of Registrable Securities pursuant to the Shelf Registration Statement, the Company shall (i)
register or qualify or cooperate with the Electing Holders and their respective counsel in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or “blue sky” laws of such
jurisdictions within the United States as any Electing Holder may reasonably request, (ii) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers and sales in such jurisdictions for so
long as may be necessary to enable any Electing Holder or underwriter, if any, to complete its distribution of Registrable Securities pursuant to the Shelf Registration Statement, and (iii) take any and all other actions necessary or advisable to
enable the disposition in such jurisdictions of such Registrable Securities; provided, however, that in no event shall the Company be obligated to (A) qualify as a foreign corporation or as a dealer in securities in any jurisdiction
where it would not otherwise be required to so qualify but for this Section 3(h) or (B) file any general consent to service of process in any jurisdiction where it is not as of the date hereof so subject. 
  
 (i) Unless any Registrable Securities shall be in book-entry only form, the
Company shall cooperate with the Electing Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold pursuant to the Shelf Registration Statement, which certificates, if so required by
any securities exchange upon which any Registrable Securities are 

  

 
listed, shall be penned, lithographed or engraved, or produced by any combination of such methods, on steel engraved borders, and which certificates shall be
free of any restrictive legends and in such permitted denominations and registered in such names as Electing Holders may request in connection with the sale of Registrable Securities pursuant to the Shelf Registration Statement. 
  
 (j) Upon the occurrence of any fact or event contemplated by paragraph
3(d)(v) above, the Company shall as promptly as reasonably practicable prepare a post-effective amendment to any Shelf Registration Statement or an amendment or supplement to the related Prospectus or file any other required document so that, as
thereafter delivered to purchasers of the Registrable Securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided, however, that the Company shall not be required to file such amendment, supplement or document if the Board of Directors of the Company (or the Chief Executive
Officer or the Chief Financial Officer of the Company) has made a determination pursuant to Section 2(c), for so long as the suspension pursuant to Section 2(c) is continuing. If the Company notifies the Electing Holders of the occurrence of any
fact or event contemplated by paragraph 3(d)(v) above, the Electing Holder shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been made. 
  
 (k) Not later than the Effective Time of the Shelf Registration Statement, the Company shall obtain a CUSIP number for the
Registrable Securities that are debt securities. 
  
 (l) The
Company shall use its reasonable best efforts to comply with all applicable Rules and Regulations, and to make generally available to its securityholders as soon as reasonably practicable, but in any event not later than eighteen months after (i)
the effective date (as defined in Rule 158(c) under the Securities Act) of the Shelf Registration Statement, (ii) the effective date of each post-effective amendment to the Shelf Registration Statement, and (iii) the date of each filing by the
Company with the Commission of an Annual Report on Form 10-K that is incorporated by reference in the Shelf Registration Statement, an earnings statement of the Company and its subsidiaries complying with Section 11(a) of the Securities Act and the
rules and regulations of the Commission thereunder (including, at the option of the Company, Rule 158). 
  
 (m) Not later than the Effective Time of the Shelf Registration Statement, the Company shall cause the Indenture to be qualified under the Trust Indenture
Act; in connection with such qualification, the Company shall cooperate with the Trustee under the Indenture and the Holders (each as defined in the Indenture) to effect such changes to the Indenture as may be required for such Indenture to be so
qualified in accordance with the terms of the Trust Indenture Act; and the Company shall execute, and shall use all reasonable best efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other
forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner. In the event that any such amendment or modification referred to in this Section 3(m) involves the appointment of a new
trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 
  

 (n) The Company will use its reasonable best efforts to cause the Common Stock issuable upon conversion
of the Securities to be listed on the Nasdaq National Market or other stock exchange or trading system on which the Common Stock primarily trades on or prior to the Effective Time of the Shelf Registration Statement hereunder. 
  
 4. Registration Expenses. Except as otherwise provided in Section 3,
the Company shall bear all fees and expenses incurred in connection with the performance of its obligations under Sections 2 and 3 hereof and shall bear or reimburse the Electing Holders for the reasonable fees and disbursements of a single counsel
selected by a plurality of all Electing Holders who own an aggregate of not less than 25% of the Registrable Securities covered by the Shelf Registration Statement to act as counsel therefore in connection therewith. Each Electing Holder shall pay
all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such Electing Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  
 5. Indemnification and Contribution. 
  
 (a) Indemnification by the Company. Upon the registration of the
Registrable Securities pursuant to Section 2 hereof, the Company shall indemnify and hold harmless each Electing Holder and each underwriter, selling agent or other securities professional, if any, which facilitates the disposition of Registrable
Securities, and each of their respective officers and directors and each person who controls such Electing Holder, underwriter, selling agent or other securities professional within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act (each such person being sometimes referred to as an “Indemnified Person”) against any losses, claims, damages or liabilities, joint or several, to which such Indemnified Person may become subject under the Securities Act
or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Shelf Registration Statement
under which such Registrable Securities are to be registered under the Securities Act, or any Prospectus contained therein or furnished by the Company to any Indemnified Person, or any amendment or supplement thereto, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and the Company hereby agrees to reimburse such Indemnified Person for any legal or
other expenses reasonably incurred by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall not be liable to any such Indemnified Person in
any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such Shelf Registration Statement or Prospectus, or
amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by such Indemnified Person or its agent or representative expressly for use therein. 
  
 (b) Indemnification by the Electing Holders and any Agents and
Underwriters. Each Electing Holder agrees, as a consequence of the inclusion of any of such Electing Holder’s Registrable Securities in such Shelf Registration Statement, and each underwriter, selling agent or 

  

 
other securities professional, if any, that facilitates the disposition of Registrable Securities shall agree, as a consequence of facilitating such
disposition of Registrable Securities, severally and not jointly, to (i) indemnify and hold harmless the Company, its directors, officers who sign any Shelf Registration Statement and each person, if any, who controls the Company within the meaning
of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, claims, damages or liabilities to which the Company or such other persons may become subject, under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such Shelf Registration Statement or Prospectus, or any amendment
or supplement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by such Electing Holder, underwriter, selling agent or other
securities professional (or its agent or representative) expressly for use therein, and (ii) reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or
claim as such expenses are incurred. 
  
 (c) Notices of
Claims. Promptly after receipt by an Indemnified Person under subsection (a) or (b) above of notice of the commencement of any action, such Indemnified Person shall, if a claim in respect thereof is to be made against an indemnifying party under
this Section 5, notify such indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability that it may have to any Indemnified Person otherwise than under the
indemnification provisions of or contemplated by subsection (a) or (b) above; and further, that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under this Section 5 except to the extent it has
been prejudiced by such failure. In case any such action shall be brought against any Indemnified Person and it shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to
the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such Indemnified Person (who shall not, except with the consent of the Indemnified
Person, be counsel to the indemnifying party), and, after notice from the indemnifying party to such Indemnified Person of its election so to assume the defense thereof, such indemnifying party shall not be liable to such Indemnified Person under
this Section 5 for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such Indemnified Person, in connection with the defense thereof other than reasonable costs of investigation; provided, however, that
the Indemnified Persons shall have the right to employ counsel to represent jointly the Indemnified Persons and their respective directors, officers, employees and controlling persons who may be subject to liability arising out of any claim in
respect of which indemnity may be sought by the Indemnified Persons against the indemnifying party under this Section 5 if, in the reasonable judgment of the Indemnified Persons, it is advisable for the Indemnified Persons and those directors,
officers, employees and controlling persons to be jointly represented by separate counsel, and in that event the fees and expenses of such separate counsel shall be paid by the indemnifying parties, provided, however, that 

  

 
in no event shall the Company be responsible for the fees and expenses of more than one such separate counsel (other than local counsel). No indemnifying
party shall, without the written consent of the Indemnified Person, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or
contribution may be sought hereunder (whether or not the Indemnified Person is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the Indemnified Person from
all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any Indemnified Person. 
  
 (d) Contribution. If the indemnification provided for in this Section
5 is unavailable to or insufficient to hold harmless an Indemnified Person under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the
indemnifying party and the Indemnified Person in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The
relative fault of such indemnifying party and Indemnified Person shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by such indemnifying party or by such Indemnified Person, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation (even if the Electing Holders or any underwriters, selling agents or other securities professionals or all of them
were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 5(d). The amount paid or payable by an Indemnified Person as a result of the
losses, claims, damages or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such Indemnified Person in connection with investigating or defending any
such action or claim. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The
obligations of the Electing Holders and any underwriters, selling agents or other securities professionals in this Section 5(d) to contribute shall be several in proportion to the percentage of principal amount of Registrable Securities registered
or underwritten, as the case may be, by them and not joint. 
  
 (e) Notwithstanding any other provision of this Section 5, in no event will any Electing Holder be required to undertake liability to any person under this Section 5 for any amounts in excess of the dollar amount of the proceeds to be
received by such Holder from the sale of such Holder’s Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) 

  

 
pursuant to any Shelf Registration Statement under which such Registrable Securities are to be registered under the Securities Act. 
  
 (f) The obligations of the Company under this Section 5 shall be in addition
to any liability which the Company may otherwise have to any Indemnified Person and the obligations of any Indemnified Person under this Section 5 shall be in addition to any liability which such Indemnified Person may otherwise have to the Company.
The remedies provided in this Section 5 are not exclusive and shall not limit any rights or remedies which may otherwise be available to an Indemnified Person at law or in equity. 
  
 6. Liquidated Damages. 
  
 (a) If (i) on the 91st day following the Closing Date of this Agreement, a Shelf Registration Statement has not been filed with the Commission; (ii) on
the 181st day following the Closing Date of this Agreement, the Shelf Registration Statement has not been declared
effective by the Commission; (iii) the Shelf Registration Statement shall cease to be effective without being succeeded within five business days by a post-effective amendment under the Securities Act or a report filed with the Commission pursuant
to the Exchange Act that cures the failure of the Shelf Registration Statement to be effective; or (iv) the Prospectus has been suspended as described in Section 2(c) longer than the period permitted in Section 2(c) (each, a “Registration
Default”), the Company agrees to pay an additional amount as liquidated damages (“Liquidated Damages”) to the Electing Holders of the outstanding Registrable Securities from and including the day following such Registration Default
until but excluding the day such Shelf Registration Statement is so filed, or becomes effective, or is no longer suspended, as applicable. Liquidated damages will accrue at an additional rate per year equal to 0.25% of the principal amount to and
including the 90th day following such Registration Default; and 0.50% of the principal amount from and after the 91st day following such Registration Default; provided however that Holders of shares of Common Stock issued upon conversion, repurchase
or redemption of Securities issued under the Indenture will not be entitled to receive any Liquidated Damages upon a Registration Default. 
  
 (b) Any amounts to be paid as Liquidated Damages pursuant to paragraph (a) of this Section 6 shall be paid semi-annually in arrears, with the first
semi-annual payment due on the first Interest Payment Date (as defined in the Indenture), as applicable, following the date of such Registration Default and with the amount of Liquidated Damages payable on such semi-annual payment date being the
amount of unpaid Liquidated Damages accrued through the applicable record date. Such Liquidated Damages will accrue in respect of the Securities that are Registrable Securities at the rates set forth in paragraph (a) of this Section 6, as
applicable, on the principal amount of such Securities. 
  
 (c)
Notwithstanding anything to the contrary in this Agreement, the Liquidated Damages as set forth in this Section 6 shall be the exclusive monetary remedy available to the Holders of Registrable Securities for such Registration Default. In no event
shall the Company be required to pay Liquidated Damages in excess of the applicable maximum amount of one-half of one percent 

  

 
(0.50%) set forth above, regardless of whether one or multiple Registration Defaults exist. No Liquidated Damages shall accrue as to any Registrable Security
from and after the earlier of (i) the date on which such security is no longer a Registrable Security and (ii) the time the Effectiveness Period expires. 
  
 7. Miscellaneous. 
  
 (a) Other Registration Rights. The Company may not grant registration rights that would permit any person that is a third party the right to
piggy-back on any Shelf Registration Statement. 
  
 (b)
Specific Performance. The parties hereto acknowledge that there would be no adequate remedy at law if the Company fails to perform any of its obligations hereunder and that the Purchasers and the Holders from time to time may be irreparably
harmed by any such failure, and accordingly agree that the Purchasers and such Holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific performance of the obligations of the
Company under this Registration Rights Agreement in accordance with the terms and conditions of this Registration Rights Agreement, in any court of the United States or any State thereof having jurisdiction. 
  
 (c) Amendments and Waivers. This Agreement, including this Section
7(c), may be amended, and waivers or consents to departures from the provisions hereof may be given, only by a written instrument duly executed by the Company and the Holders of a majority in aggregate principal amount of Registrable Securities then
outstanding. Each Holder of Registrable Securities outstanding at the time of any such amendment, waiver or consent or thereafter shall be bound by any amendment, waiver or consent effected pursuant to this Section 7(c), whether or not any notice,
writing or marking indicating such amendment, waiver or consent appears on the Registrable Securities or is delivered to such Holder. 
  
 (d) Notices. All notices and other communications provided for or permitted hereunder (including, without limitation, the expressions
“advice,” “advising” or “furnishing”) shall be made in writing by hand delivery, registered first-class mail, telecopier, electronic means (including filings with DTC or the Commission) or any courier guaranteeing
overnight delivery (a) if to a Holder, at the most current address set forth on the records of the registrar under the Indenture, (b) if to the Purchasers, at Lehman Brothers Inc., 745 Seventh Avenue, New York, NY 10019, Attention: Syndicate
Department (Fax: (646) 497-4815), with a copy to Cleary Gottlieb Steen & Hamilton LLP, One Liberty Plaza, New York, NY 10006, Attention: David I. Gottlieb (Fax: (212) 225-3999), (c) if to the Company, at the Company’s address set forth in
the Purchase Agreement with a copy to Nutter McClennen & Fish, LLP, World Trade Center West, 155 Seaport Boulevard, Boston, MA 02210-2604, Attention: James E. Dawson (Fax: (617) 310-9623). All such notices and communications shall be deemed to
have been duly given: at the time of delivery, if delivered by hand or electronic means; two business days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and on the next business day if
timely delivered to an air courier guaranteeing overnight delivery. 
  

 (e) Parties in Interest. The parties to this Agreement intend that all Holders of Registrable
Securities shall be entitled to receive the benefits of this Agreement and that any Electing Holder shall be bound by the terms and provisions of this Agreement by reason of such election with respect to the Registrable Securities that are included
in a Shelf Registration Statement. All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the respective successors and assigns of the parties hereto and any Holder from time
to time of the Registrable Securities to the aforesaid extent. In the event that any transferee of any Holder of Registrable Securities shall acquire Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of law or
otherwise, such transferee shall, without any further writing or action of any kind, be entitled to receive the benefits of and, if an Electing Holder, be conclusively deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement to the aforesaid extent. 
  
 (f)
Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute
one and the same agreement. 
  
 (g) Headings. The headings
in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 (h) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York. 
  
 (i) Severability. In the event that any one
or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law.

  
 (j) Survival. The respective indemnities, agreements,
representations, warranties and other provisions set forth in this Agreement or made pursuant hereto shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any
Electing Holder, any director, officer or partner of such Holder, any agent or underwriter, any director, officer or partner of such agent or underwriter, or any controlling person of any of the foregoing, and shall survive the transfer and
registration of the Registrable Securities of such Holder. 
  
 [Remainder of page intentionally left blank] 
  

  
 Please confirm that the
foregoing correctly sets forth the agreement between the Company and you. 
  

					
	 Very truly yours,

	
	 NABI BIOPHARMACEUTICALS

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	The foregoing Agreement is hereby confirmed and accepted as of the date hereof:
	
	 LEHMAN BROTHERS INC.

		
	By:	 	 LEHMAN BROTHERS INC.

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:

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