Document:

Indenture

 Exhibit 4.1 
 HEALTH MANAGEMENT ASSOCIATES, INC. 
 3.75% Convertible Senior Subordinated Notes due 2028 
  
  
 INDENTURE 
 Dated as of May 21, 2008 
  
  
 U.S. BANK, NATIONAL ASSOCIATION 
 TRUSTEE 
  
  
  

 TABLE OF CONTENTS 
  
  
  

					
	 	 	 	  	PAGE
		 	ARTICLE 1	  	
		 	DEFINITIONS AND INCORPORATION BY REFERENCE	  	
			
	 Section 1.01.
	 	Definitions	  	1
	 Section 1.02.
	 	Other Definitions	  	14
	 Section 1.03.
	 	Rules of Construction	  	14
	 Section 1.04.
	 	Acts of Holders	  	15
			
		 	ARTICLE 2	  	
		 	THE SECURITIES	  	
			
	 Section 2.01.
	 	Form and Dating	  	16
	 Section 2.02.
	 	Execution and Authentication	  	17
	 Section 2.03.
	 	Registrar, Paying Agent And Conversion Agent	  	18
	 Section 2.04.
	 	Paying Agent To Hold Money And Securities In Trust	  	19
	 Section 2.05.
	 	Securityholder Lists	  	19
	 Section 2.06.
	 	Transfer And Exchange	  	19
	 Section 2.07.
	 	Replacement Securities	  	21
	 Section 2.08.
	 	Outstanding Securities; Determinations Of Holders’ Action	  	22
	 Section 2.09.
	 	Temporary Securities	  	22
	 Section 2.10.
	 	Cancellation	  	23
	 Section 2.11.
	 	Persons Deemed Owners	  	23
	 Section 2.12.
	 	Global Securities	  	23
	 Section 2.13.
	 	CUSIP Numbers	  	26
			
		 	ARTICLE 3	  	
		 	REDEMPTION AND PURCHASES	  	
			
	 Section 3.01.
	 	Right To Redeem; Notices To Trustee	  	26
	 Section 3.02.
	 	Selection Of Securities To Be Redeemed	  	26
	 Section 3.03.
	 	Notice Of Redemption	  	27
	 Section 3.04.
	 	Effect Of Notice Of Redemption	  	28
	 Section 3.05.
	 	Deposit Of Redemption Price	  	28
	 Section 3.06.
	 	Securities Redeemed In Part	  	28
	 Section 3.07.
	 	Conversion Arrangement On Call For Redemption	  	28
	 Section 3.08.
	 	Purchase Of Securities At Option Of The Holder Upon Fundamental Change	  	29
	 Section 3.09.
	 	Purchase Of Securities At Option Of The Holder	  	31
	 Section 3.10.
	 	Payment In Cash	  	32
	 Section 3.11.
	 	Effect Of Purchase Notice Or Fundamental Change Purchase Notice	  	34

  

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	 Section 3.12.
	 	Deposit Of Purchase Price Or Fundamental Change Purchase Price	  	35
	 Section 3.13.
	 	Securities Purchased In Part	  	36
	 Section 3.14.
	 	Covenant To Comply With Securities Laws Upon Purchase Of Securities	  	36
	 Section 3.15.
	 	Repayment To The Company	  	36
			
		 	ARTICLE 4	  	
		 	COVENANTS	  	
			
	 Section 4.01.
	 	Payment Of Securities	  	37
	 Section 4.02.
	 	SEC and Other Reports	  	37
	 Section 4.03.
	 	Compliance Certificate	  	37
	 Section 4.04.
	 	Further Instruments And Acts	  	37
	 Section 4.05.
	 	Maintenance of Office or Agency	  	38
	 Section 4.06.
	 	Delivery Of Certain Information	  	38
	 Section 4.07.
	 	Additional Interest Payable Upon a Failure to Report	  	38
			
		 	ARTICLE 5	  	
		 	SUCCESSOR CORPORATION	  	
			
	 Section 5.01.
	 	When Company May Merge Or Transfer Assets	  	39
			
		 	ARTICLE 6	  	
		 	DEFAULTS AND REMEDIES	  	
			
	 Section 6.01.
	 	Events Of Default	  	40
	 Section 6.02.
	 	Acceleration	  	42
	 Section 6.03.
	 	Other Remedies	  	43
	 Section 6.04.
	 	Waiver Of Past Defaults	  	43
	 Section 6.05.
	 	Control By Majority	  	44
	 Section 6.06.
	 	Limitation On Suits	  	44
	 Section 6.07.
	 	Rights Of Holders To Receive Payment	  	44
	 Section 6.08.
	 	Collection Suit By Trustee	  	45
	 Section 6.09.
	 	Trustee May File Proofs Of Claim	  	45
	 Section 6.10.
	 	Priorities	  	46
	 Section 6.11.
	 	Undertaking For Costs	  	46
	 Section 6.12.
	 	Waiver Of Stay, Extension Or Usury Laws	  	46
			
		 	ARTICLE 7	  	
		 	TRUSTEE	  	
			
	 Section 7.01.
	 	Duties And Responsibilities Of The Trustee; During Default; Prior To Default	  	47
	 Section 7.02.
	 	Certain Rights Of The Trustee	  	48

  

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	 Section 7.03.
	 	Trustee Not Responsible For Recitals, Disposition Of Securities Or Application Of Proceeds Thereof	  	49
	 Section 7.04.
	 	Trustee And Agents May Hold Securities; Collections, Etc.	  	49
	 Section 7.05.
	 	Moneys Held By Trustee	  	49
	 Section 7.06.
	 	Compensation And Indemnification Of Trustee And Its Prior Claim	  	49
	 Section 7.07.
	 	Right Of Trustee To Rely On Officers’ Certificate, Etc.	  	50
	 Section 7.08.
	 	Conflicting Interests	  	50
	 Section 7.09.
	 	Persons Eligible For Appointment As Trustee	  	50
	 Section 7.10.
	 	Resignation And Removal; Appointment Of Successor Trustee	  	51
	 Section 7.11.
	 	Acceptance Of Appointment By Successor Trustee	  	52
	 Section 7.12.
	 	Merger, Conversion, Consolidation Or Succession To Business Of Trustee	  	53
	 Section 7.13.
	 	Preferential Collection Of Claims Against The Company	  	53
	 Section 7.14.
	 	Reports by the Trustee	  	53
	 Section 7.15.
	 	Trustee To Give Notice Of Default, But May Withhold In Certain Circumstances	  	53
			
		 	ARTICLE 8	  	
		 	DISCHARGE OF INDENTURE	  	
			
	 Section 8.01.
	 	Discharge Of Liability On Securities	  	54
	 Section 8.02.
	 	Repayment To The Company	  	54
			
		 	ARTICLE 9	  	
		 	AMENDMENTS	  	
			
	 Section 9.01.
	 	Without Consent of Holders	  	54
	 Section 9.02.
	 	With Consent Of Holders	  	55
	 Section 9.03.
	 	Revocation And Effect Of Consents, Waivers And Actions	  	56
	 Section 9.04.
	 	Notation On Or Exchange Of Securities	  	56
	 Section 9.05.
	 	Trustee To Sign Supplemental Indentures	  	56
	 Section 9.06.
	 	Effect Of Supplemental Indentures	  	57
			
		 	ARTICLE 10	  	
		 	PAYMENT OF INTEREST	  	
			
	 Section 10.01.
	 	Payment Of Interest; Interest Rights Preserved	  	57
			
		 	ARTICLE 11	  	
		 	CONVERSION	  	
			
	 Section 11.01.
	 	Right to Convert	  	58
	 Section 11.02.
	 	Conversion Rate Adjustment Upon Certain Make-whole Fundamental Changes	  	61
	 Section 11.03.
	 	Exercise of Conversion Privilege	  	62
	 Section 11.04.
	 	Settlement of Conversion Obligation	  	64

  

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	 Section 11.05.
	 	Fractions of Shares	  	65
	 Section 11.06.
	 	Adjustments to Base Conversion Rate and the Incremental Share Factor	  	65
	 Section 11.07.
	 	Company To Provide Stock	  	73
	 Section 11.08.
	 	Provision in Case of Effect of Reclassification, Consolidation, Merger or Sale	  	73
	 Section 11.09.
	 	Voluntary Increase	  	74
	 Section 11.10.
	 	Company Determination Final	  	74
	 Section 11.11.
	 	Trustee’s Adjustment Disclaimer	  	75
	 Section 11.12.
	 	Successive Adjustments	  	75
	 Section 11.13.
	 	Rights Issued In Respect Of Class A Common Stock Issued Upon Conversion	  	75
	 Section 11.14.
	 	Exchange in Lieu of Conversion	  	75
			
		 	ARTICLE 12	  	
		 	SUBORDINATION	  	
			
	 Section 12.01.
	 	Agreement To Subordinate	  	76
	 Section 12.02.
	 	Liquidation, Dissolution, Bankruptcy	  	77
	 Section 12.03.
	 	Default On Designated Senior Debt	  	77
	 Section 12.04.
	 	When Distribution Must Be Paid Over	  	78
	 Section 12.05.
	 	Subrogation	  	78
	 Section 12.06.
	 	Relative Rights; Subordination Not To Prevent Events Of Default Or Limit Right To Accelerate	  	78
	 Section 12.07.
	 	Subordination May Not Be Impaired By Company	  	79
	 Section 12.08.
	 	Rights Of Trustee	  	79
	 Section 12.09.
	 	Distributions And Notices To, And Notices And Consents By, Representatives Of Holders Of Senior Debt	  	79
	 Section 12.10.
	 	Trustee Entitled To Rely	  	79
	 Section 12.11.
	 	Trustee To Effectuate Subordination	  	79
	 Section 12.12.
	 	Trustee Not Fiduciary For Holders Of Senior Debt	  	80
	 Section 12.13.
	 	Reliance By Holder Of Senior Debt On Subordination Provisions; No Waiver	  	80
			
		 	ARTICLE 13	  	
		 	MISCELLANEOUS	  	
			
	 Section 13.01.
	 	Notices	  	80
	 Section 13.02.
	 	Communications By Holders with Other Holders	  	81
	 Section 13.03.
	 	Certificate And Opinion As To Conditions Precedent	  	81
	 Section 13.04.
	 	Statements Required In Certificate Or Opinion	  	82
	 Section 13.05.
	 	Separability Clause	  	82
	 Section 13.06.
	 	Rules By Trustee, Paying Agent, Conversion Agent And Registrar	  	82
	 Section 13.07.
	 	Legal Holidays	  	82
	 Section 13.08.
	 	Governing Law	  	82
	 Section 13.09.
	 	No Recourse Against Others	  	82
	 Section 13.10.
	 	Successors	  	83
	 Section 13.11.
	 	Multiple Originals	  	83

  

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 INDENTURE dated as of May 21, 2008 between HEALTH MANAGEMENT ASSOCIATES, INC., a Delaware
corporation (the “Company”), and U.S. BANK, NATIONAL ASSOCIATION, a national banking association, (in such capacity, together with its successors in trust, the “Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s 3.75%
Convertible Senior Subordinated Notes due 2028 (the “Securities”): 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01. Definitions.  
 “144A Global Security” means a permanent Global Security in the form of the Security attached hereto as Exhibit A-1, 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 Interest” means all amounts, if any, payable pursuant to
Section 4.07 and Section 6.02 hereof. 
 “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 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 Conversion Rate” means, for each $1,000 principal amount of
Securities to be converted, the sum of the Daily Conversion Rate Fractions for each VWAP Trading Day during the related Observation Period for such Securities. 
 “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. 
 “Base Conversion Price” on any
day means, for each $1,000 principal amount of Securities, a dollar amount (initially, approximately $11.76) equal to $1,000 divided by the Base Conversion Rate, as may be adjusted pursuant to Section 11.06 (and without, for the avoidance of
doubt, giving effect to any adjustment to the Base Conversion Rate pursuant to Section 11.02). 
  

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 “Base Conversion Rate” means, for each $1,000 principal amount of Securities, 85.0340
shares of the Class A Common Stock, subject to adjustment as set forth herein. 
 “Beneficial Owner” shall be
determined in accordance with Rule 13d-3 promulgated by the Commission under the Exchange Act. 
 “Bid Solicitation Agent”
means initially the Company or any agent the Company may appoint in the future, including the Trustee, to solicit a Trading Price for the Securities as may be required pursuant to this Indenture. 
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of such board. 
 “Business Day” means each day of the year other than a Saturday or a Sunday on which banking institutions are not required or authorized
to close in the City of New York. 
 “Capital Lease Obligation” means, at the time any determination thereof is to be made,
the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP. 
 “Capital Stock” for any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by
that Person. 
 “Class A Common Stock” means shares of class A common stock, par value $0.01 per share, as it exists on the
date of this Indenture and any shares of any class or classes of Capital Stock of the Company resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the event of
any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such resulting class, the shares of
each such class then so issuable on conversion of Securities shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications. 
 “Closing Date” means the date of this Indenture. 
 “Common Equity” of any Person means Capital Stock of such Person that is generally entitled to (1) vote in the election of
directors of such Person or (2) if such Person is not a corporation, vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person. 
  

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 “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 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. 
 “Continuing Director” means a director who either was a member of the Company’s board of directors on the
date of this Indenture or who becomes a director of the Company subsequent to such date and whose election, or nomination for election by the Company’s stockholders, is duly approved by a majority of the Continuing Directors on the board of
directors at the time of such approval, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the entire board of directors of the Company in which such individual is named as nominee for director.

 “Controlled” means ownership or control of more than 50% of the voting power of such entity. 
 “Corporate Trust Office” means the principal office of the Trustee at which at any time its corporate trust business shall be
administered, which office at the date hereof is located at 200 South Biscayne Blvd. Suite 1870, Miami, FL 33131, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal
corporate trust office of any successor Trustee (or such other address as a successor Trustee may designate from time to time by notice to the Holders and the Company). 
 “Daily Conversion Rate Fraction” means, for any Securities to be converted and each Daily VWAP Trading Day of the related Observation Period for such Securities, a number of shares of Class A
Common Stock determined as follows: 
 (i) if the Daily VWAP on such day is less than or equal to the Base Conversion Price on such day, the
Daily Conversion Rate Fraction for such day shall be the Base Conversion Rate in effect on such day divided by 20; and 
 (ii) if the Daily
VWAP on such day is greater than the Base Conversion Price on such day, the Daily Conversion Rate Fraction for such day shall be equal to the following fraction: 
 

 
  

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 “Daily Conversion Value” means, for any Securities to be converted and for each VWAP
Trading Day during the related Observation Period for such Securities, the product of (1) the Daily Conversion Rate Fraction on such day and (2) the Daily VWAP on such day. 
 “Daily Share Amount” means, for each $1,000 principal amount of Securities to be converted and for each VWAP Trading Day during the
related Observation (subject to the Company’s right to deliver cash in lieu of all or a portion of the Daily Share Amount pursuant to Section 11.04(b)) a number of shares of Class A Common Stock equal to the difference between such
Daily Conversion Value on such VWAP Trading Day and $50, divided by (B) the Daily VWAP of the Class A Common Stock for such VWAP Trading Day, 
 “Daily Settlement Amount” means, for each $1,000 principal amount of Securities being converted and for 20 VWAP Trading Days during the related Observation Period for such Securities, an amount of
cash and shares of Class A Common Stock, if any, as follows: (i) cash equal to the lesser of (x) $50 and (y) the Daily Conversion Value on such VWAP Trading Day, and (ii) if such Daily Conversion Value exceeds $50, either,
at the sole election of the Company, (x) a number of shares of Class A Common Stock equal to the Daily Share Amount, (y) cash equal to the difference between such Daily Conversion Value and $50, or (z) any combination elected by
the Company of shares of Class A Common Stock and cash determined as set forth in Section 11.04(b). 
 “Daily
VWAP” means, in respect of Securities to be converted and for VWAP Trading Day during the related Observation Period for such Securities, the per share volume-weighted average price on the primary exchange for the Class A Common Stock
as displayed under the heading “Bloomberg VWAP” on Bloomberg page “HMA UN<EQUITY> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading on the primary
exchange for the Class A Common Stock to the scheduled close of trading on such exchange on such VWAP Trading Day (or if such volume-weighted average price is unavailable, or if such page or its equivalent is unavailable, the market value of
one share of Class A Common Stock on such VWAP Trading Day using a volume-weighted method as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company). 
 “Debt” means, with respect to any Person, without duplication, 
 (1) all indebtedness of such Person for borrowed money; 
  

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 (2) all obligations of such Person evidenced by bonds, debentures, notes or other similar
instruments; 
 (3) all obligations of such Person in respect of letters of credit, bankers’ acceptances or other similar
instruments, excluding obligations in respect of trade letters of credit or bankers’ acceptances issued in respect of trade payables; 
 (4) all obligations of such Person to pay the deferred and unpaid purchase price of property or services which are recorded as liabilities under GAAP, excluding trade payables arising in the ordinary course of
business; 
 (5) all Capital Lease Obligations of such Person as lessee under such leases; 
 (6) all Debt of other Persons Guaranteed by such Person to the extent so Guaranteed; 
 (7) all Debt of other Persons secured by a Lien on any asset of such Person, whether or not such Debt is assumed by such Person; and

 (8) all Hedging Obligations of such Person. 
 The amount of Debt of any Person will be deemed to be: 
 (A) with respect to contingent
obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation; 
 (B) with respect
to Debt secured by a Lien on an asset of such Person but not otherwise the obligation, contingent or otherwise, of such Person, the lesser of (x) the fair market value of such asset on the date the Lien attached and (y) the amount of such
Debt; 
 (C) with respect to any Debt issued with original issue discount, the face amount of such Debt less the remaining
unamortized portion of the original issue discount of such Debt; 
 (D) with respect to any Hedging Obligation, the net amount
payable if such Hedging Obligation terminated at that time due to default by such Person; and 
 (E) otherwise, the
outstanding principal amount thereof. 
  

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 “Default” means any event which is, or after notice or passage of time or both would be,
an Event of Default. 
 “Designated Senior Debt” means (i) the Debt under that certain Credit Agreement dated
February 16, 2007 and among the Company, Bank of America, N.A., as administrative agent, Wachovia Bank, National Association (formerly First Union National Bank) and Citibank, N.A., JPMorgan Chase Bank, N.A. and SunTrust Bank, as
co-documentation agents, and the lenders to the party thereto, as such agreement may be amended from time to time, and (ii) any other Senior Debt which, at the date of determination, has an aggregate principal amount outstanding of at least
$7,500,000 and is specifically designated as “Designated Senior Debt” in the instrument governing such Senior Debt and in an Officers’ Certificate received by the Trustee. 
 “Ex-Dividend Date” means, in respect of an issuance, a dividend or distribution to holders of the Class A Common Stock, the first
date on which Class A Common Stock trades on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 “Fair Market Value” means the amount that a willing buyer would pay a willing seller in an arm’s length transaction.

 “Final Maturity” or “Final Maturity Date” shall be May 1, 2028. 
 “Fundamental Change” means, after the original issuance of the Securities, any of the following occurs: 
 (a) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, any Subsidiary of the
Company, any employee benefit plan of the Company or any such Subsidiary, files a Schedule 13D, Schedule TO (or any similar schedule, form or report under the Exchange Act) disclosing that such person or group has become the direct or indirect
ultimate Beneficial Owner, of Common Equity of the Company representing more than 50% of the voting power of the Company’s Common Equity, other than as a result of, or in connection with, a merger, acquisition or other transaction or related
transactions, in which all or substantially all the Class A Common Stock is exchanged for or converted into cash, securities or other property; 
 (b) consummation of any share exchange, consolidation or merger of the Company pursuant to which the Class A Common Stock will be converted into cash, securities or other property or any sale, lease or other
transfer (in one transaction or a series of transactions) of all or substantially all of the Company’s 

  

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consolidated assets (considered together with the Company’s Subsidiaries) to any Person (other than one of the Company’s Subsidiaries);
provided, however, that a transaction where the holders of more than 50% of all classes of the Company’s Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of
the continuing or surviving corporation or transferee immediately after such event shall not be a Fundamental Change; 
 (c) Continuing
Directors cease to constitute at least a majority of the Company’s Board of Directors, other than as a result of, or in connection with, a merger, acquisition or other transaction or related transactions, in which all or substantially all the
Class A Common Stock is exchanged for or converted into cash, securities or other property; or 
 (d) the Class A Common Stock or
other securities or property into which the Securities are convertible pursuant to the terms provided herein, are not listed for trading on a national or regional securities exchange; 
 provided, however, that a Fundamental Change shall not be deemed to have occurred if either (I) the Last Reported Sale Price per share of the
Class A Common Stock for any five VWAP Trading Days within the period of 10 consecutive VWAP Trading Days ending immediately before the later of the Fundamental Change or the announcement thereof shall equal or exceed 105% of the Base
Conversion Price immediately before the Fundamental Change or public announcement thereof or (II) at least 90% of the consideration (excluding Cash payments for fractional shares) in the transaction or transactions constituting the Fundamental
Change consists of shares of Class A Common Stock or ordinary shares (or ADRs in respect thereof) traded on a national securities exchange (or which shall be so traded or quoted when issued or exchanged in connection with such Fundamental
Change) (such securities being referred to as “Publicly Traded Securities”) and as a result of such transaction or transactions the Securities become convertible into cash and, if applicable, such Publicly Traded Securities
(excluding Cash payments for fractional shares) pursuant to the provisions of this Indenture. 
 “Fundamental Change Purchase
Date” has the meaning specified in Section 3.08(a). 
 “Fundamental Change Purchase Notice” means the form
“Option to Elect Purchase Upon a Fundamental Change” contained on the reverse of the Securities. 
 “Fundamental
Change Purchase Price” has the meaning specified in Section 3.08(a). 
 “GAAP” means United States generally
accepted accounting principles as in effect from time to time. 
  

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 “Global Securities” means Securities that are in the form of the Securities attached
hereto as Exhibit A-1, and to the extent that such Securities are required to bear the Legend required by Section 2.06(e), such Securities will be in the form of a 144A Global Security. 
 “Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business),
direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such Person under (i) interest rate swap agreements,
interest rate cap agreements and interest rate collar agreements, (ii) foreign exchange contracts or currency swap agreements and (iii) other agreements or arrangements designed to protect such Person against fluctuations in interest rates
or currency values. 
 “Holder” or “Securityholder” means a person in whose name a Security is registered
on the Registrar’s books. 
 “Incremental Share Factor” means initially 42.5170, subject to adjustment as set forth in
Section 11.06 (and without, for the avoidance of doubt, giving effect to any adjustment to the Base Conversion Rate pursuant to Section 11.02). 
 “Indebtedness” means, with respect to any Person, any indebtedness of such Person, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar
instruments or letters of credit (or reimbursement agreements in respect thereof) or banker’s acceptances or representing Capital Lease Obligations or the balance deferred and unpaid of the purchase price of any property or representing any
Hedging Obligations, except any such balance that constitutes an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon a
balance sheet of such Person prepared in accordance with GAAP, as well as all indebtedness of others secured by a Lien on any asset of such Person (whether or not such indebtedness is assumed by such Person) and, to the extent not otherwise
included, the Guarantee by such Person of any indebtedness of any other Person. 
 “Indenture” means this Indenture, as
amended or supplemented from time to time in accordance with the terms hereof. 
 “Interest Payment Date” means May 1
and November 1 of each year, commencing November 1, 2008. 
 “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. 
  

 8 

 “Last Reported Sale Price” of the Class A Common Stock on any date means the
closing sale price per share (or if no closing sale price is reported, the average of the last bid and ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) on that date as reported in
composite transactions for the principal U.S. national or regional securities exchange on which the Class A Common Stock is traded. If the Class A Common Stock is not listed for trading on a U.S. national or regional securities exchange on
the relevant date, the “Last Reported Sale Price” will be the average of the last quoted bid and ask prices for the Class A Common Stock in the over-the-counter market on the relevant date as reported by Pink Sheets LLC or similar
organization. If the Class A Common Stock is not so quoted, the “Last Reported Sale Price” will be the average of the mid-point of the last bid and ask prices for the Class A Common Stock on the relevant date from each of at
least three nationally recognized independent investment banking firms selected by the Company for this purpose, which may include one or more of the underwriters. Any such determination will be conclusive absent manifest error. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of
such asset given to secure Indebtedness, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to
sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction with respect to any such lien, pledge, charge or security interest).

 “Make-Whole Fundamental Change” means any transaction or event that constitutes a Fundamental Change as described in
clause (b) of the definition thereof, but without regard to (i) clause (I) of the final proviso in the definition thereof and (ii) the proviso in clause (b) of the definition thereof. 
 “Market Disruption Event” means the occurrence or existence on any Scheduled Trading Day for the Class A Common Stock of any
suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Class A Common Stock or in any options contracts or futures contracts relating to the
Class A Common Stock on the principal U.S. national or regional securities exchange or market on which the Class A Common Stock is listed or admitted for trading, and such suspension or limitation occurs or exists at any time within the 30
minutes prior to the closing time of the relevant exchange on such day. 
 “Obligations” means, with respect to any Debt,
all obligations (whether in existence on the Issue Date or arising afterwards, absolute or contingent, direct or indirect) for or in respect of principal (when due, upon acceleration, upon redemption, upon mandatory repayment or repurchase pursuant
to a mandatory offer to purchase, or otherwise), premium, interest, penalties, fees, indemnification, reimbursement and other amounts payable and liabilities with 

  

 9 

 
respect to such Debt, including all interest accrued or accruing after the commencement of any bankruptcy, insolvency or reorganization or similar case or
proceeding at the contract rate (including, without limitation, any contract rate applicable upon default) specified in the relevant documentation, whether or not the claim for such interest is allowed as a claim in such case or proceeding.

 “Observation period” means, with respect to any Security tendered for conversion, 
 (i) for any Conversion Date occurring (A) in respect of Securities called for redemption following a notice of redemption issued pursuant to Article
3 or (B) in respect of Securities converted following the 23rd Scheduled Trading Day preceding Stated Maturity, the 20 consecutive VWAP Trading Days beginning on, and including, the 22nd Scheduled Trading Day preceding Stated Maturity or the
redemption date, as applicable; and 
 (ii) in all other instances, the 20 consecutive VWAP Trading Day period beginning on, and including,
the third Trading Day immediately following the Conversion Date. 
 “Officer” means the Chairman of the Board, the Vice
Chairman, the Chief Executive Officer, the President, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer 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 13.03 and 13.04, signed in the
name of the Company by any two Officers, and delivered to the Trustee. An Officers’ Certificate given pursuant to Section 4.03 shall be signed by an authorized financial or accounting Officer of the Company but need not contain the
information specified in Sections 13.03 and 13.04. 
 “Opinion of Counsel” means a written opinion containing the
information specified in Sections 13.03 and 13.04 from legal counsel who is acceptable to the Trustee. The counsel may be an employee of, or counsel to, the Company or , as applicable herein, the Trustee. 
 “person” or “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. 
 “Publicly Traded Securities” has the meaning specified in the definition of Fundamental Change. 
 “Redemption Date” or “redemption date” means the date specified for redemption of the Securities in accordance with the terms of the Securities and this Indenture. 
  

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 “Redemption Price” or “redemption price” shall have the meaning set
forth in paragraph 5 of the Securities. 
 “Regular Record Date” means, with respect to the interest payable on any Interest
Payment Date, the close of business on April 15 or October 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. 
 “Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant
secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust
matter is referred because of such person’s knowledge of and familiarity with the particular subject. 
 “Restricted
Security” means a Security required to bear the restrictive legend set forth in the form of Security set forth in Exhibits A-1 and A-2 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. 
 “Scheduled Trading Day” means a day that is scheduled to be a VWAP Trading Day. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities” means any of the Company’s Convertible Senior Subordinated Notes due 2028, as amended or supplemented from time to time, issued under this Indenture. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 “Securityholder” or “Holder” means a person in whose name a Security is registered on the
Registrar’s books. 
 “Senior Debt” or “Senior Indebtedness” of the Company means all Obligations with
respect to Debt of the Company, whether outstanding on the Issue Date or thereafter created, except for Debt which, in the instrument creating or evidencing the same, is expressly stated to be not senior in right of payment to the Securities;
provided that Senior Debt does not include (i) any obligation to the Company or any majority-owned Subsidiary, (ii) trade payables or (iii) any Debt incurred in violation of the Indenture. 
 “Significant Subsidiary” means a Subsidiary of the Company, including its Subsidiaries, which meets any of the following conditions:

 (a) the Company’s and its other Subsidiaries’ investments in and advances to the Subsidiary exceed 20 percent of
the total assets of the Company and its Subsidiaries consolidated as of the end of any two of the three most recently completed fiscal years; or 
  

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 (b) the Company’s and its other Subsidiaries’ proportionate share of the total
assets of the Subsidiary exceeds 20 percent of the total assets of the Company and its Subsidiaries consolidated as of the end of any two of the three most recently completed fiscal years; or 
 (c) the Company’s and its other Subsidiaries’ equity in the income from continuing operations before income taxes, extraordinary
items and cumulative effect of a change in accounting principles of the Subsidiary exceeds 20 percent of such income of the Company and its Subsidiaries consolidated as of the end of any two of the three most recently completed fiscal years.

 “Special Record Date” means for the payment of any Defaulted Interest, the date fixed by the Trustee pursuant to
Section 10.01(b). 
 “Stated Maturity”, when used with respect to any Security and the payment of the principal amount
thereof, means May 1, 2028. 
 “Stock Price” means, in respect of a Make-Whole Fundamental Change, the price per share
of the Class A Common Stock paid in connection with such Make-Whole Fundamental Change, which shall be equal to (i) if holders of the Class A Common Stock receive only cash in such transaction, the cash amount paid per share of the
Class A Common Stock and (ii) in all other cases, the average of the Last Reported Sale Prices of the Class A Common Stock over the five Trading Day period ending on the Trading Day preceding the Effective Date of such Make-Whole
Fundamental Change. 
 “Subsidiary” means (i) a corporation, a majority of whose Capital Stock with voting power, under
ordinary circumstances, to elect directors is, at the date of determination, directly or indirectly owned by the Company, by one or more Subsidiaries of the Company or by the Company and one or more Subsidiaries of the Company, (ii) a
partnership in which the Company or a Subsidiary of the Company holds a majority interest in the equity capital or profits of such partnership, or (iii) any other person (other than a corporation) in which the Company, a Subsidiary of the
Company or the Company and one or more Subsidiaries of the Company, directly or indirectly, at the date of determination, has (x) at least a majority ownership interest or (y) the power to elect or direct the election of a majority of the
directors or other governing body of such person. 
 “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. 
  

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 “Trading Day” means a day during which (i) trading in securities generally occurs
on the New York Stock Exchange or, if the Class A Common Stock is not listed on the New York Stock Exchange, on the principal other national or regional securities exchange on which the Class A Common Stock is then listed or admitted for
trading and (ii) there is no Market Disruption Event. If the Class A Common Stock is not listed or traded, then “Trading Day” means a Business Day. 
 “Trading Price” of a Security on any date of determination means the average of the secondary market bid quotations per Security obtained by the Bid Solicitation Agent for $5,000,000 principal amount
of Securities at approximately 4:00 p.m., New York City time, on such determination date from three unaffiliated securities dealers the Company selects, provided that if (i) at least three such bids are not obtained by the Bid
Solicitation Agent, or (ii) in the Company’s reasonable judgment, the bid quotations are not indicative of the secondary market value of the Securities, then the Trading Price of a Security will equal (a) the then Applicable
Conversion Rate (calculated for this purpose, on any date of determination, using as the relevant Observation Period the five VWAP Trading Day period ending on the Trading Day immediately preceding such date) of the Securities, multiplied by
(b) the average Last Reported Sale Prices of the Class A Common Stock on the five Trading Days ending on such determination date. 
 “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. 
 “VWAP Trading
Day” means any day (i) on which there is no Market Disruption Event and (ii) is a Trading Day. A VWAP Trading Day shall only include those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then
standard closing time for regular trading on the relevant exchange or over-the-counter market. For purposes of the definition of “VWAP Trading Day”, a Market Disruption Event means (i) a failure by the primary U.S. national or
regional securities exchange or over-the-counter market on which the Class A Common Stock is listed or admitted for trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m. on
any Scheduled Trading Day for an aggregate one half hour period of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Class A Common Stock or in
any options contracts or future contracts relating to the Class A Common Stock. 
  

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 Section 1.02. Other Definitions.  
  

			
	 Term
	  	Defined in
Section
	 “Act”
	  	1.04(a)
	 “Additional Shares”
	  	11.02(a)
	 “Agent Members”
	  	2.12(e)
	 “Bankruptcy Law”
	  	6.01
	 “Blockage Notice”
	  	12.03(b)(1)
	 “cash”
	  	3.10(a)
	 “Cash Percentage”
	  	11.04(b)
	 “Cash Percentage Notice”
	  	11.04(b)
	 “Company Notice”
	  	3.10(c)
	 “Company Notice Date”
	  	3.10(b)
	 “Conversion Agent”
	  	2.03
	 “Conversion Notice”
	  	11.03(a)
	 “Conversion Date”
	  	11.03(a)
	 “Conversion Obligation”
	  	11.01(a)
	 “Custodian”
	  	6.01
	 “Defaulted Interest”
	  	10.01(c)
	 “Depositary
	  	2.01(a)
	 “DTC”
	  	2.01(a)
	 “Effective Date”
	  	11.02(b)
	 “Event of Default”
	  	6.01
	 “Legal Holiday”
	  	13.07
	 “Measurement Period”
	  	11.01(ii)
	 “Merger Event”
	  	11.08
	 “Notice of Default”
	  	6.01
	 “pay the Securities”
	  	12.03(a)
	 “Paying Agent”
	  	2.03
	 “Payment Blockage Period”
	  	12.03(b)
	 “payment in full”
	  	12.02(1)
	 “Purchase Date”
	  	3.09(a)
	 “Purchase Notice”
	  	3.09(a)(i)
	 “Purchase Price”
	  	3.09(a)
	 “QIB”
	  	2.01(a)
	 “Reference Property”
	  	11.08
	 “Registrar”
	  	2.03
	 “Rights”
	  	11.13
	 “Rights Agreement”
	  	11.13
	 “Rule 144A Information”
	  	4.06
	 “Spin-off”
	  	11.06(c)

 Section 1.03. Rules of Construction. Unless the context otherwise requires:

 (a) a term has the meaning assigned to it; 
  

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 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally
accepted accounting principles as in effect from time to time; 
 (c) “or” is not exclusive; 
 (d) “including” means including, without limitation; and 
 (e) words in the singular include the plural, and words in the plural include the singular. 
 Section 1.04. 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 their 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. 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 which the Trustee deems sufficient. 
 (c) The ownership of Securities shall be proved by the register for the Securities or by a certificate of the Registrar. 
 (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. 
  

 15 

 (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 resolution of the Board of Directors, 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 purposes of determining whether Holders of the requisite proportion of outstanding Securities have authorized or agreed or consented
to such request, 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 2 
 THE SECURITIES 
 Section 2.01. Form and Dating. The Securities and the Trustee’s certificate of authentication shall be substantially in the form of
Exhibit A-1, which is 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. The Securities will be offered and sold within the United States to qualified institutional investors as defined in
Rule 144A (“QIBs”) in reliance on Rule 144A and shall be issued, initially in the form of a 144A Global Security, which shall be deposited with the Trustee at its Corporate Trust Office, as custodian for the Depositary and
registered in the name of The Depository Trust Company (“DTC”) or the nominee thereof (such depositary, 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. For the avoidance of doubt, affiliates (as defined in Rule 405 of the Securities Act) shall only hold an interest in the Securities in certificated form and are prohibited from taking a beneficial interest in a
Global Security. 
  

 16 

 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 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 and shall be made on the records of the Trustee
and the Depositary. 
 (b) Book-Entry Provisions. 
 The Company shall execute and the Trustee shall, in accordance with this Section 2.01(b), 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 bear legends substantially to the following effect: 
 “UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER 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 IN WHOLE, BUT NOT IN
PART, 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.” 
 Section 2.02. Execution and Authentication. The
Securities shall be executed on behalf of the Company by any Officer, under its corporate seal reproduced thereon. The signature of the Officer on the Securities may be manual or facsimile. 
  

 17 

 Securities bearing the manual or facsimile signatures of individuals who were at the time of the
execution of the Securities the proper Officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such 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 officer, 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 Securities for original issue in an aggregate principal amount of up to $250,000,000 upon a Company Order without any further action by the Company. The aggregate principal amount of Securities
outstanding at any time may not exceed the amount set forth in the foregoing sentence, except as provided in Section 2.07. 
 The
Securities shall be issued only in registered form without coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. 
 Section 2.03. 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 4.05. The term Conversion Agent includes any additional conversion agent, including any named pursuant to Section 4.05. 
 The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar (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 this Section 2.03 and Section 7.06. The Company or any Subsidiary or an Affiliate of either of them may act as Paying Agent, Registrar,
Conversion Agent or co-registrar. 
  

 18 

 The Company initially appoints the Trustee as Registrar, Conversion Agent and Paying Agent in connection
with the Securities. 
 Section 2.04. Paying Agent To Hold Money And Securities In Trust. Except as otherwise provided herein, on
or prior to 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) or the Class A Common Stock 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 the Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all money and the Class A Common
Stock 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 and the Class A Common Stock 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 and the Class A Common Stock 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 and the Class A Common Stock held by it to the Trustee and to account
for any funds and Class A Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Class A Common Stock. 
 Section 2.05. 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 January 15 and July 15 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 2.06. Transfer And Exchange. Subject to Section 2.12 hereof, (a) 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 2.03, 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 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. 
  

 19 

 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 (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 Purchase Notice or 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 any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed. 
 (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, transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.12 and this Section 2.06(b). Transfers of a Global
Security shall be limited to transfers of such Global Security in whole, or in part, 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 2.03 hereof 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. 
 (f) If, prior to
the first year anniversary from the Issue Date, (i) Securities are issued upon the transfer, exchange or replacement of Securities subject to restrictions on transfer and bearing the legends set forth on the form of 

  

 20 

 
Security attached hereto as Exhibit A-1 and setting forth such restrictions (collectively, the “Legend”), or (ii) 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 such satisfactory evidence, which shall include an
opinion of counsel, as may be reasonably required by the Company and the Registrar, 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 or that such Securities are not “restricted” within the meaning of Rule 144 under the Securities Act. Upon (i) provision of such satisfactory evidence, 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 an Affiliate of the Company, the Legend shall be reinstated. 
 Section 2.07. 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 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 3 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, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security issued pursuant to this Section 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. 
  

 21 

 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights
and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.08.
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 or delivered to it for cancellation, those replaced pursuant
to Section 2.07 and those described in this Section 2.08 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 or waiver 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 or waiver, only Securities which a Responsible Officer of the Trustee 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 6 and 9). 
 If a Security is replaced pursuant to
Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. 
 If the Paying Agent holds, in accordance with this Indenture, on a Redemption Date, or on the Business Day following a Purchase Date or a Fundamental Change Purchase Date, or on Stated Maturity, money or securities,
if permitted hereunder, sufficient to pay Securities payable on that date, then immediately after such Redemption Date, Purchase Date, Fundamental Change Purchase Date or Stated Maturity, as the case may be, such Securities shall cease to be
outstanding and interest on such Securities shall cease to accrue; 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 11, then from and after the time of conversion on the Conversion Date,
such Security shall cease to be outstanding and interest shall cease to accrue on such Security. 
 Section 2.09. 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. 
  

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 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 2.03, 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. All Securities surrendered for payment, purchase by the Company pursuant to Article 3, 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 11. No Securities shall be authenticated in 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 destroyed by the Trustee and the Trustee shall deliver a certificate of destruction to the Company. 
 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, Purchase 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, transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.06 and Section 2.12(a)(i) 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 

  

 23 

 
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 Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of a 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(a). 
 (b) Subject to the succeeding paragraph, every Security shall be subject to the restrictions on transfer provided in
the Legend including the delivery of an opinion of counsel, if so provided. Whenever any Restricted Security is presented or surrendered for registration of transfer or for exchange for a Security registered in a name other than that of the Holder,
such Security must be accompanied by a certificate in substantially the form set forth in Exhibit B-1, 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 registration of 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 first year anniversary from the Issue Date. 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 to the Company, addressed to the Company 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 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,
hypothecation or other disposition of any Security. 
  

 24 

 (e) The provisions below shall apply to the Global Securities: 
 (i) 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 (A) 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 Exchange Act,
and a successor Depositary is not appointed by the Company within 90 days or (B) an Event of Default has occurred and is continuing with respect to the Securities. Any Global Security exchanged pursuant to clause (A) above shall be so
exchanged in whole and not in part, and any Global Security exchanged pursuant to clause (B) 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. 
 (ii) 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 Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the
order of the Depositary or an authorized representative thereof. 
 (iii) Subject to the provisions of clause 2.12(e)(v)
below, the registered Holder may grant proxies and otherwise authorize any Person, including Agent Members (as defined below) 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. 
 (iv) In the event of the occurrence of any of the events specified in clause (i) above,
the Company will promptly make available to the Trustee a reasonable supply of certificated securities in definitive, fully registered form, without interest coupons. 
  

 25 

 (v) 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. 
 Section 2.13. CUSIP Numbers. The Company in issuing the Securities may use “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. 
 ARTICLE 3

 REDEMPTION AND PURCHASES 
 Section 3.01. Right To Redeem; Notices To Trustee. The Company, at its option, may redeem the Securities in accordance with the provisions of
paragraphs 5 and 8 of the Securities. If the Company elects to redeem Securities pursuant to paragraph 5 of the 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 provided for in this Section 3.01 by a Company Order, at least 60
days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee). 
 Section 3.02. Selection Of
Securities To Be Redeemed. If less than all the Securities are to be redeemed, the Trustee shall select the Securities to be 

  

 26 

 
redeemed pro rata or by lot or by any other 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 at least 30 days but not more than 60 days before the Redemption Date 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 them 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 Securities to be redeemed. 
 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 3.03. 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 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: 
 (a) the Redemption Date; 
 (b) the Redemption
Price; 
 (c) the Base Conversion Rate; 
 (d) the name and address of the Paying Agent and Conversion Agent; 
 (e) 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; 
 (f) that Holders who want to convert Securities
must satisfy the requirements set forth in paragraph 9 of the Securities; 
 (g) that Securities called for redemption must be surrendered to
the Paying Agent to collect the Redemption Price; 
 (h) if fewer than all the outstanding Securities are to be redeemed, the certificate
number and principal amounts of the particular Securities to be redeemed; 
  

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 (i) that, unless the Company defaults in making payment of such Redemption Price, interest on Securities
called for redemption will cease to accrue on and after the Redemption Date; and 
 (j) the CUSIP number of the Securities. 
 At the Company’s 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 three Business Days prior to such notice of redemption. 
 Section 3.04. 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 3.05. 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 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, with interest, if any, thereon, not required for that purpose because of conversion
of Securities pursuant to Article 11. 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. 
 Section 3.06. 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 3.07. Conversion
Arrangement On Call For Redemption. In connection with any redemption of Securities, the Company may arrange for the purchase and conversion of any Securities called for redemption by an agreement with one or more investment banks or other
purchasers to purchase such Securities by paying to the Trustee in trust for the Securityholders, on or prior to 10:00 a.m. New York City time on the Redemption Date, an amount that, together with any amounts deposited with the Trustee by the
Company for the redemption of such Securities, is not less than the Redemption Price of such Securities. Notwithstanding anything to the contrary contained in this Article 3, the obligation of the Company to pay the Redemption Price of such
Securities 

  

 28 

 
shall be deemed to be satisfied and discharged to the extent such amount is so paid by such purchasers. If such an agreement is entered into, any Securities
not duly surrendered for conversion by the Holders thereof may, at the option of the Company, be deemed, to the fullest extent permitted by law, acquired by such purchasers from such Holders and (notwithstanding anything to the contrary contained in
Article 11) surrendered by such purchasers for conversion, all as of immediately prior to the close of business on the Redemption Date, subject to payment of the above amount as aforesaid. The Trustee shall hold and pay to the Holders whose
Securities are selected for redemption any such amount paid to it for purchase and conversion in the same manner as it would moneys deposited with it by the Company for the redemption of Securities. Without the Trustee’s prior written consent,
no arrangement between the Company and such purchasers for the purchase and conversion of any Securities shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this Indenture, and
the Company agrees to indemnify the Trustee from, and hold it harmless against, any loss, liability or expense (other than arising from gross negligence, bad faith or willful misconduct of the Trustee) arising out of or in connection with any such
arrangement for the purchase and conversion of any Securities between the Company and such purchasers, including the costs and expenses incurred by the Trustee in the defense of any claim or liability arising out of or in connection with the
exercise or performance of any of its powers, duties, responsibilities or obligations under this Indenture. 
 Section 3.08. Purchase
Of Securities At Option Of The Holder Upon Fundamental Change. (a) If prior to May 1, 2014 there shall have occurred a Fundamental Change and there shall not have occurred and be continuing an Event of Default (other than an Event of
Default that is cured by the payment of the Fundamental Change Purchase Price for Securities in accordance with this Section 3.08) all or a portion of the Securities of any Holder shall be purchased by the Company, at the option of such Holder,
at a purchase price in cash equal to 100% of the principal amount thereof, plus accrued and unpaid interest to (but excluding) the date of purchase (the “Fundamental Change Purchase Price”), as of the date specified by the Company
in its notice pursuant to Section 3.08(b), but in any event not later than 35 days after the giving by the Company of notice of the occurrence of a Fundamental Change, subject to extension to comply with applicable law, pursuant to
Section 3.14 (the “Fundamental Change Purchase Date”), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 3.08(c); provided that if the Fundamental Change Purchase Date is
after a Regular Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, then interest shall be payable to the Holder of record on such Regular Record Date and the Fundamental Change Purchase Price shall
only be 100% of the principal amount of Securities to be purchased on such date. If on or after May 1, 2014 there occurs a Fundamental Change, no Holder shall have any right or option to require the Company to purchase the Securities of such
Holder on account thereof except as permitted by Section 3.09. 
  

 29 

 (b) On or before the 20th day after the occurrence of a Fundamental Change, the Company shall mail a
written notice of 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
Securityholder and shall state: 
 (i) briefly, the events causing a Fundamental Change and the date of such Fundamental
Change; 
 (ii) the date by which the Fundamental Change Purchase Notice pursuant to this Section 3.08 must be given;

 (iii) the Fundamental Change Purchase Date; 
 (iv) 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; 
 (v) the information required to be included in a Company Notice as specified in Section 3.10(c). 
 (c)
A Holder may exercise its rights specified in Section 3.08(a) hereof upon delivery of the Securities to be purchased, duly endorsed for transfer, and a duly completed Fundamental Change Purchase Notice to the Paying Agent, on or before the 35th
day after the date of the Fundamental Change Purchase Notice, subject to extension to comply with applicable law, 
 (i) if
certificated Securities have been issued, the certificate number of the Security which the Holder will deliver to be purchased; 
 (ii) 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 thereof; and 
 (iii) that such Security shall be purchased pursuant to the terms and conditions specified in paragraph 7 of the Securities and
Section 3.08 of the Indenture. 
 The delivery of such Security to the Paying Agent prior to, on or after the Fundamental Change
Purchase Date (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 3.08 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.

  

 30 

 The Company shall purchase from the Holder thereof, pursuant to this Section 3.08, 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 3.08 shall be consummated by the delivery of the consideration
to be received by the Holder promptly following the later of the Fundamental Change Purchase Date and the time of delivery of the Security to the Paying Agent in accordance with this Section 3.08. 
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this
Section 3.08(c) shall have the right to withdraw such Fundamental Change Purchase Notice at any time prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date by delivery of a written notice of withdrawal
to the Paying Agent in accordance with Section 3.11. 
 The Paying Agent shall promptly notify the Company of the receipt by it of any
Fundamental Change Purchase Notice or written withdrawal thereof. 
 Section 3.09. Purchase Of Securities At Option Of The Holder.
(a) General. Subject to there not having occurred and be continuing an Event of Default (other than an Event of Default that can be cured by the Company paying the Purchase Price of the Securities pursuant to Section 3.09),
Securities shall be purchased by the Company pursuant to paragraph 6 of the Securities as of May 1, 2014, May 1, 2018 and May 1, 2023 (each, a “Purchase Date”), at the purchase price in cash equal to 100% of the
principal amount of the Securities to be purchased plus accrued and unpaid interest to (but excluding) the Purchase Date (the “Purchase Price”) at the option of the Holder thereof, unless prior to the date 20 Business Days prior to
the Purchase Date the Company shall have delivered pursuant to Section 3.03 a notice of redemption with respect to such Securities; provided that if the Purchase Date is after a Regular Record Date for the payment of interest and on or
prior to the corresponding Interest Payment Date, then interest shall be payable to the Holder of record on such Regular Record Date and the Purchase Price shall only be 100% of the principal amount of Securities to be purchased on such date. Such
purchase shall be made upon: 
 (i) delivery to the Paying Agent, by the Holder of a written notice of purchase (a
“Purchase Notice”), at any time from the opening of business on the Company Notice Date until the close of business on the Business Day prior to such Purchase Date stating: 
 (A) if certificated Securities have been issued, the certificate number of the Security which the Holder will deliver to be purchased,

  

 31 

 (B) 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 thereof, 
 (C) that such Security shall be purchased as of
the Purchase Date pursuant to the terms and conditions specified in this Section 3.09 and in paragraph 6 of the Securities and in this Indenture, and 
 (ii) delivery of such Security to the Paying Agent prior to, on or after the Purchase Date (together with all necessary endorsements) at the offices of the Paying Agent, such delivery being a condition to receipt by
the Holder of the Purchase Price therefor; provided, however, that such Purchase Price shall be so paid pursuant to this Section 3.09 only if the Security so delivered to the Paying Agent shall conform in all respects to the description thereof
in the related Purchase Notice, as determined by the Company. 
 The Company shall purchase from the Holder thereof, pursuant to this
Section 3.09, 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 3.09 shall be consummated by
the delivery of the consideration to be received by the Holder promptly following the later of the Purchase Date and the time of delivery of the Security. 
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Purchase Notice contemplated by this Section 3.09(a) shall have the right to withdraw such Purchase Notice at any
time prior to the close of business on the Business Day prior to the Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.11, in which event the Company shall not be obligated to purchase
the related Securities. 
 The Paying Agent shall promptly notify the Company of the receipt by it of any Purchase Notice or written notice
of withdrawal thereof. 
 Section 3.10. Payment In Cash. (a) The Securities to be purchased pursuant to Section 3.08(a)
or Section 3.09(a) must be paid for in U.S. legal tender (“cash”). At least three Business Days before the Company Notice Date, the Company shall deliver an Officers’ Certificate to the Trustee specifying: 
 (i) the information required by Section 3.10(c), and 
 (ii) whether the Company desires the Trustee to give the Company Notice required by Section 3.10(c). 
  

 32 

 (b) The Company Notice, as provided in Section 3.10(c), shall be sent to Holders (and to beneficial
owners as required by applicable law) not less than 20 Business Days prior to such Purchase Date in the case of a purchase pursuant to Section 3.09(a) or in conjunction with the mailing of written notice of Fundamental Change pursuant to
Section 3.08(b) in the case of a purchase pursuant to Section 3.08(a) (the “Company Notice Date”). 
 (c)
Notice of Election. The Company’s notice of election to purchase the Securities shall be sent to the Holders (and to beneficial owners as required by applicable law) in the manner provided in Section 13.01 at the time specified in
Section 13.09, as applicable (the “Company Notice”). 
 Each Company Notice shall include a form of Purchase Notice or
Fundamental Change Purchase Notice to be completed by a Securityholder and shall state: 
 (A) the Purchase Price or
Fundamental Change Purchase Price and the Base Conversion Rate and Incremental Share Factor; 
 (B) the name and address of
the Paying Agent and the Conversion Agent; 
 (C) that Securities as to which a Purchase Notice or Fundamental Change Purchase
Notice has been given may be converted pursuant to Article 11 (if the conditions therein are satisfied) hereof only if the applicable Purchase Notice or Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this
Indenture; 
 (D) that Securities must be surrendered to the Paying Agent to collect payment; 
 (E) that the Purchase Price or Fundamental Change Purchase Price for any security as to which a Purchase Notice has been given and not
withdrawn will be paid promptly following the later of (1) the Purchase Date or Fundamental Change Purchase Date and (2) the time of surrender of such Security as described in (D); 
  

 33 

 (F) the procedures the Holder must follow to exercise rights under Section 3.08 or
Section 3.09 as applicable and a brief description of those rights; 
 (G) briefly, the conversion rights of the
Securities, if any; 
 (H) the procedures for withdrawing a Purchase Notice or Fundamental Change Purchase Notice; 

(I) that, unless the Company defaults in making payment of such Purchase Price or Fundamental Change Purchase Price, interest on
Securities for which a Purchase Notice or Fundamental Change Purchase Notice has been delivered and not withdrawn will cease to accrue on and after the relevant Purchase Date or Fundamental Change Purchase Date; and 
 (J) the CUSIP number of the Securities. 
 At the Company’s request, the Trustee shall give such Company Notice in the Company’s name and at the Company’s expense; provided, however, that, in all cases, the text of such Company Notice shall be
prepared by the Company. 
 (d) Procedure upon Purchase. The Company shall deposit cash at the time and in the manner as provided in
Section 3.12, sufficient to pay the aggregate Purchase Price or Fundamental Change Purchase Price of all Securities to be purchased pursuant to a Purchase Notice or Fundamental Change Purchase Notice. 
 Section 3.11. Effect Of Purchase Notice Or Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of the Purchase Notice or
Fundamental Change Purchase Notice, the Holder of the Security in respect of which such Purchase Notice or Fundamental Change Purchase Notice, as the case may be, was given shall (unless such Purchase Notice or Fundamental Change Purchase Notice is
withdrawn as specified in the following two paragraphs) thereafter be entitled to receive solely the Purchase Price or Fundamental Change Purchase Price, as the case may be, with respect to such Security. Such Purchase Price or Fundamental Change
Purchase Price shall be paid to such Holder, subject to receipts of funds by the Paying Agent, promptly following the later of (x) the Purchase Date or the Fundamental Change Purchase Date, as the case may be, with respect to such Security
(provided the conditions in Section 3.08 or Section 3.09, as applicable, 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 3.08 or 3.09,
as applicable. Securities in respect of which a Purchase Notice or Fundamental Change Purchase Notice, as the case may be, has been given by the Holder thereof may not be converted pursuant to Article 11 hereof on or after the date of the delivery
of such Purchase Notice or Fundamental Change 

  

 34 

 
Purchase Notice, as the case may be, unless such Purchase Notice or Fundamental Change Purchase Notice, as the case may be, has first been validly withdrawn
as specified in the following two paragraphs. 
 A Purchase Notice or Fundamental Change Purchase Notice, as the case may be, may be
withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the Purchase Notice or Fundamental Change Purchase Notice, as the case may be, at any time prior to the close of business on the
Business Day prior to the Purchase Date or the Fundamental Change Purchase Date, as the case may be, specifying: 
 (a) if certificated
Securities have been issued, the certificate number of the Security in respect of which such notice of withdrawal is being submitted (if the Securities are not certificated, such Purchase Notice or Fundamental Change Purchase Notice, as the case may
be, shall comply with the appropriate procedures of the Depositary), 
 (b) the principal amount of the Security with respect to which such
notice of withdrawal is being submitted, and 
 (c) the principal amount, if any, of such Security which remains subject to the original
Purchase Notice or Fundamental Change Purchase Notice, as the case may be, and which has been or will be delivered for purchase by the Company. 
 A written notice of withdrawal of a Purchase Notice must be in the form set forth in the preceding paragraph. 
 There shall be no
purchase of any Securities pursuant to Section 3.08 or Section 3.09 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 Purchase Notice or Fundamental Change
Purchase Notice, as the case may be) and is continuing an Event of Default (other than a default in the payment of the Purchase Price or Fundamental Change Purchase Price, as the case may be, with respect to such Securities). The Paying Agent will
promptly return to the respective Holders thereof any Securities (x) with respect to which a Purchase Notice or Fundamental Change Purchase Notice, as the case may be, 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 Purchase Price or Fundamental Change Purchase Price, as the case may be, with respect to such Securities) in which case, upon such return, the Purchase Notice
or Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
 Section 3.12. Deposit Of
Purchase Price Or Fundamental Change Purchase Price. Prior to 10:00 a.m. (New York City time) on the Business Day following the Purchase Date or the Fundamental Change Purchase Date, as the case may be, the Company shall deposit with the Trustee
or with the Paying 

  

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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 as provided in
Section 2.04) an amount of money (in immediately available funds if deposited on such Business Day) sufficient to pay the aggregate Purchase Price or Fundamental Change Purchase Price, as the case may be, of all the Securities or portions
thereof which are to be purchased as of the Purchase Date or Fundamental Change Purchase Date, as the case may be. 
 Section 3.13.
Securities Purchased In Part. Any 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 3.14. Covenant To Comply With Securities Laws Upon Purchase Of Securities. In
connection with any offer to purchase or purchase of Securities under Section 3.08 or 3.09 hereof (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), the Company shall to the extent applicable and required by law, (i) comply with Rule 13e-4, Rule 14e-1 and any other tender offer
rules under the Exchange Act which may then be applicable, (ii) file the related Schedule TO (or any successor schedule, form or report) or any other schedule required under the Exchange Act, and (iii) otherwise comply with all Federal and
state securities laws so as to permit the rights and obligations under Sections 3.08 or 3.09 to be exercised in the time and in the manner specified in Sections 3.08 or 3.09. 
 Section 3.15. Repayment To The Company. The Trustee and the Paying Agent shall return to the Company any cash that remains unclaimed as
provided in paragraph 14 of the Securities, together with interest, if any, thereon, held by them for the payment of the Purchase Price or 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 3.12 exceeds the aggregate Purchase Price or Fundamental Change Purchase Price, as the case may be, of the Securities or portions thereof which the Company is obligated to
purchase as of the Purchase Date or Fundamental Change Purchase Date, as the case may be, then promptly after the Business Day following the Purchase Date or Fundamental Change Purchase Date, as the case may be, the Trustee shall return any such
excess to the Company together with interest, if any, thereon. 
  

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 ARTICLE 4 
 COVENANTS 
 Section 4.01. 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 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, Redemption Price, Purchase Price, Fundamental Change Purchase Price, or interest shall be considered paid on the applicable date due if on such date (or, in the case of a Purchase Price or
Fundamental Change Purchase Price, on the Business Day following the applicable Purchase Date or Fundamental Change Purchase Date, as the case may be) the Trustee or the Paying Agent holds, in accordance with this Indenture, money or securities, if
permitted hereunder, sufficient to pay all such amounts then due. 
 The Company shall, to the extent permitted by law, pay interest on
overdue amounts at the rate per annum set forth in paragraph 1 of the Securities, compounded semiannually, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest
thereon, has been made or duly provided for. All such interest shall be payable on demand. 
 Section 4.02. SEC and Other Reports.
The Company shall file with the Trustee, within 15 days after it is required to file 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 (giving effect to any
grace period provided by Rule 12b-25 of the Exchange Act). 
 Section 4.03. Compliance Certificate. The Company shall deliver to
the Trustee within 120 days after the end of each fiscal year of the Company (beginning with the fiscal year ending on December 31, 2008) an Officers’ Certificate, stating whether or not to the best 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 4.04. 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. 
  

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 Section 4.05. 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, which shall initially be the Corporate Trust Office of the Trustee. 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 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 13.01, and the Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 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 4.06. 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 holder of
Securities or shares of the Class A Common Stock issued upon conversion thereof, the Company will promptly furnish or cause to be furnished Rule 144A Information (as defined below) to such Holder or any beneficial holder of Securities or holder
of shares of Class A Common Stock issued upon conversion of Securities, 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. 
 Section 4.07. Additional Interest Payable Upon Failure To Report. (a) If at any time during the six months to one year period following
the Issue Date, the Company fails to timely file any document or report that it is required (after giving effect to any grace period provided by Rule 12b-25 of the Exchange Act) to file with the SEC pursuant to Section 13 or 15(d) of the
Exchange Act (other than any Current Report on Form 8-K), Additional Interest on the Securities will accrue at an annual rate of 0.50% of their principal amount outstanding (or an equivalent amount for any outstanding shares of Class A Common
Stock issued upon conversion of the Securities) for each day during such period for which the Company’s failure to file continues; provided that the Company will have 

  

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14 days, in the aggregate, to cure any late filings before any such Additional Interest will accrue. Additional Interest will be paid in cash on each
subsequent Interest Payment Date following the late filing in the same manner as regular interest on the Securities. In no event shall Additional Interest accrue at an annual rate in excess of 0.50%, in the aggregate, pursuant to this
Section 4.07 and Section 6.02. 
 ARTICLE 5 
 SUCCESSOR CORPORATION 
 Section 5.01. When Company May Merge Or
Transfer Assets. The Company shall not consolidate with or merge with or into any other person or convey, transfer or lease its properties and assets substantially as an entirety 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 the properties and assets of the Company substantially as an entirety (i) shall be organized and 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 satisfactory to the Trustee, all of the obligations of the Company under the
Securities and this Indenture; 
 (b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred
and be continuing; and 
 (c) 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 5 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, 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 

  

 39 

 
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 9.02, 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 6 
 DEFAULTS AND REMEDIES 
 Section 6.01. Events Of
Default. An “Event of Default” occurs if: 
 (1) the Company defaults in the payment of any interest when
due and payable and such default shall continue for 30 days; 
 (2) the Company defaults in the payment of the principal
amount, Redemption Price, Purchase Price or Fundamental Change Purchase Price on any Security when the same becomes due and payable at its Stated Maturity, upon redemption, upon declaration, when due for purchase by the Company or otherwise;

 (3) the Company fails to deliver shares of Class A Common Stock (together with cash in lieu of fractional shares), or
cash in lieu thereof, when such delivery is required upon conversion of a Security and such failure continues for 10 days; or 
 (4) the Company fails to comply with any of its agreements in the Securities or this Indenture (other than those referred to in clauses (1), (2) and (3) above) and such failure continues for 60 days after receipt by the Company of
a Notice of Default; 
 (5) there shall occur an event of default within the meaning of another mortgage, indenture or debt,
instrument under which there may be issued any Indebtedness, other than the Securities, in an amount in excess of $25,000,000 and which results in the Indebtedness becoming or being declared due and payable prior to the date on which it would
otherwise become due and payable, and the Company has not cured the default in payment or the acceleration is not rescinded or annulled in each case within 10 days after receipt by the Company of a Notice of Default; provided, however; that if,
prior to a declaration of acceleration of the maturity of the Securities or the entry of judgment in favor of the Trustee in a suit pursuant to the Indenture, 

  

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the default of the other Indebtedness has been remedied or cured by the Company or waived by the holders of such Indebtedness, then the Event of Default
hereunder will be deemed likewise to have been remedied, cured or waived; or 
 (6) the Company or any Significant Subsidiary
or any Subsidiaries of the Company which in the aggregate would constitute a Significant Subsidiary pursuant to or under or within the meaning of any Bankruptcy Law: 
 (A) commences a voluntary case or proceeding; 
 (B) consents to the entry of an order for relief against it in an involuntary case or proceeding or the commencement of any case against
it; 
 (C) consents to the appointment of a Custodian of it or for any substantial part of its property; 
 (D) makes a general assignment for the benefit of its creditors; 
 (E) files a petition in bankruptcy or answer or consent seeking reorganization or relief; or 
 (F) consents to the filing of such a petition or the appointment of or taking possession by a Custodian; 
 (7) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (A) is for relief against the Company or any Significant Subsidiary or any Subsidiaries of the Company which in the aggregate would
constitute a Significant Subsidiary in an involuntary case or proceeding, or adjudicates the Company or any Significant Subsidiary or any Subsidiaries of the Company which in the aggregate would constitute a Significant Subsidiary insolvent or
bankrupt; 
 (B) appoints a Custodian of the Company or any Significant Subsidiary or any Subsidiaries of the Company which in
the aggregate would constitute a Significant Subsidiary or for any substantial part of its or their properties; or 
  

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 (C) orders the winding up or liquidation of the Company or any Significant Subsidiary or
any Subsidiaries of the Company which in the aggregate would constitute a Significant Subsidiary and will cause all the principal amount and all accrued and unpaid interest to become immediately due and payable; or; 
 and the order or decree remains unstayed and in effect for 60 days. 
 “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of debtors. 
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 A Default under clause (4) or clause (5) 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 clause (4) or clause (5) above after actual receipt of such notice. Any
such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” 
 The
Company will deliver to the Trustee, within five Business Days of becoming aware of the occurrence of an Event of Default, written notice thereof. In addition, the Company shall deliver to the Trustee, within 30 days after it becomes aware of the
occurrence thereof, written notice of any event which with the giving of notice or the lapse of time, or both, would become an Event of Default under clause (4) or clause (5) above, its status and what action the Company is taking or
proposes to take with respect thereto. 
 Section 6.02. Acceleration. If an Event of Default (other than an Event of Default
specified in Section 6.01(6) or (7) occurs and is continuing, 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 notice to the Company and the
Trustee, may declare the principal amount plus any accrued interest through the date of declaration on all the Securities to be immediately due and payable. Upon such a declaration, such principal amount plus any accrued interest, shall be due and
payable immediately. If an Event of Default specified in Section 6.01(6) or (7) occurs and is continuing, the principal amount plus any accrued interest, 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 notice to the Trustee (and without notice to any other Securityholder)
may rescind an acceleration and its consequences if the rescission 

  

 42 

 
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
any accrued interest that have become due solely as a result of acceleration and if all amounts due to the Trustee under Section 7.06 have been paid. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

 Notwithstanding the foregoing, if the Company so elects, the sole remedy of Holders for an Event of Default relating to any obligation to
file reports as described under Section 4.02 will, for the first 365 days after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with 6.01(c)), consist
exclusively of the right to receive Additional Interest on the Securities at an annual rate equal to 0.25% per annum of the principal amount of the Securities outstanding for each day of such 365-day period during which the Company remain in
default. Additional Interest will be payable in arrears on each Interest Payment Date following the occurrence of such Event of Default in the same manner as regular interest on the Securities. On the 366th day after such Event of Default (if such
violation is not cured or waived prior to such 366th day), the Securities will be subject to acceleration as provided above. This paragraph will not affect the rights of the Holders in the event of the occurrence of any other Event of Default. In
the event the Company does not elect to pay Additional Interest upon an Event of Default in accordance with this paragraph, the Securities will be subject to acceleration as provided above. 
 Section 6.03. Other Remedies. Other than as set forth in Section 6.02, 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 any accrued interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even if the Trustee does not possess any of the Securities or 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 6.04. Waiver Of Past Defaults. The Holders of a
majority in aggregate principal amount of the Securities at the time outstanding, by notice to the Trustee (and without notice to any other Securityholder), may waive an existing Default and its consequences except (1) an Event of Default
described in Section 6.01(1) or (2), (2) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Securityholder affected or (3) a Default which constitutes a failure to convert
any Security or make any required conversion payments, as the case may be, in accordance with the terms of Article 11. When a Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any
consequent right. 
  

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 Section 6.05. 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 against loss, liability or expense. 
 Section 6.06. 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 reasonable 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. 
 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 6.07. 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, Purchase Price, Fundamental Change Purchase Price or any accrued interest, in respect of the Securities held by such Holder, on or after the respective due dates
expressed in the Securities or any Redemption Date, and to convert the Securities in accordance with Article 11, 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. 
  

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 Section 6.08. Collection Suit By Trustee. If an Event of Default described in
Section 6.01(1) or (2) 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 7.06. 
 Section 6.09. 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, Purchase Price, Fundamental Change Purchase Price or any accrued interest 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, Purchase Price, Fundamental Change Purchase Price, or any
accrued interest 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 7.06) 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 7.06.

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting 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. 
  

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 Section 6.10. Priorities. If the Trustee collects any money pursuant to this Article 6, it
shall pay out the money in the following order: 
 FIRST: to the Trustee for amounts due under Section 7.06; 
 SECOND: to Securityholders for amounts due and unpaid on the Securities for the principal amount, Redemption Price, Purchase Price, Fundamental Change
Purchase Price or any accrued interest 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 6.07 or a suit by Holders of more than 10% in aggregate principal amount of the
Securities at the time outstanding. 
 Section 6.12. Waiver Of Stay, Extension Or Usury Laws. The Company covenants (to the
extent that it may lawfully do so and to the extent legally enforceable) 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, Purchase Price, Fundamental Change Purchase Price or any accrued interest
in respect of Securities, or any interest 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 and to the extent legally
enforceable) 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. 
  

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 ARTICLE 7 
 TRUSTEE 
 Section 7.01. Duties And Responsibilities Of The Trustee; During Default;
Prior To Default. The Trustee, prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all such Events of Default which may have occurred, undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture. In case an Event of Default hereunder has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 
 No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that 
 (a) prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all such Events of Default which may have occurred:

 (i) the duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and
the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(ii) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such statements, certificates or opinions which by
any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture; 
 (b) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless
it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (c) the Trustee shall not be liable with
respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section 6.05 relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 
  

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 None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Trustee believes in good faith that the repayment of such funds or adequate indemnity against
such liability is not reasonably assured to it. 
 Section 7.02. Certain Rights Of The Trustee. Subject to Section 7.01:

 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, Officers’ Certificate or any
other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security 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) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’
Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the secretary or an assistant secretary of the
Company; 
 (c) the Trustee may consult with counsel of its selection and any advice or Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 
 (d) the Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture with the request, order or direction
of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred therein or
thereby; 
 (e) the Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or
within the discretion, rights or powers conferred upon it by this Indenture; 
 (f) prior to the occurrence of an Event of Default hereunder
and after the curing or waiving of all such Events of Default, 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,
consent, order, approval, appraisal, bond, debenture, note, coupon, security, or other paper or document unless requested in writing to do so by the Holders of not less than a majority in aggregate principal amount of the Securities then
outstanding; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Indenture, the Trustee 

  

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may require reasonable indemnity against such expenses or liabilities as a condition to proceeding; the reasonable expenses of every such investigation shall
be paid by the Company or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Company upon demand; and 
 (g) 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 not regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on
the part of any such agent or attorney appointed with due care by it hereunder. 
 Section 7.03. Trustee Not Responsible For
Recitals, Disposition Of Securities Or Application Of Proceeds Thereof. The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the
Company of any of the Securities or of the proceeds thereof. 
 Section 7.04. Trustee And Agents May Hold Securities; Collections,
Etc. The Trustee or any agent of the Company or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and, subject to
Sections 7.08 and 7.13, if operative, may otherwise deal with the Company and receive, collect, hold and retain collections from the Company with the same rights it would have if it were not the Trustee or such agent. 
 Section 7.05. Moneys Held By Trustee. Subject to the provisions of Section 8.02 hereof, all moneys received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the
Company or the Trustee shall be under any liability for interest on any moneys received by it hereunder. 
 Section 7.06.
Compensation And Indemnification Of Trustee And Its Prior Claim. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation (which shall not be limited by any provision of
law in regard to the compensation of a trustee of an express trust) to be agreed to in writing by the Trustee and the Company, and the Company covenants and agrees to pay or reimburse the Trustee and each predecessor Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including (i) the reasonable compensation and the expenses and disbursements of its counsel and
of all agents and other persons not regularly in its employ and (ii) interest at the prime rate on any disbursements and 

  

 49 

 
advances made by the Trustee and not paid by the Company within 5 days after receipt of an invoice for such disbursement or advance) except any such expense,
disbursement or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence
or bad faith on its part, arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder, including the costs and expenses of defending itself against or investigating any
claim of liability in the premises. The obligations of the Company under this Section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each predecessor Trustee for expenses, disbursements
and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. Such additional indebtedness shall be a senior claim to that of the Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities, and the Securities are hereby effectively subordinated to such senior claim to such extent. The provisions of this Section shall
survive the termination of this Indenture. 
 Section 7.07. Right Of Trustee To Rely On Officers’ Certificate, Etc. Subject
to Sections 7.01 and 7.02, whenever in the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such
matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate
delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon
the faith thereof. 
 Section 7.08. Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the
meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA. 
 Section 7.09. Persons Eligible For Appointment As Trustee. The Trustee shall at all times be a corporation or banking association having a combined capital and surplus of at least $50,000,000. If such
corporation or banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus
of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 
  

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 Section 7.10. Resignation And Removal; Appointment Of Successor Trustee. (a) The
Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Company and by mailing notice thereof by first class mail to the
Holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument in duplicate, executed
by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed and have accepted appointment
within 30 days after the mailing of such notice of resignation, the resigning trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security
for at least six months may, subject to the provisions of Section 7.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if
any, as it may deem proper and prescribe, appoint a successor trustee. 
 (b) In case at any time any of the following shall occur:

 (i) the Trustee shall fail to comply with the provisions of Section 7.08 with respect to any Securities after written
request therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security for at least six months; or 
 (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any Securityholder; or 
 (iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the
Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; or 
 (iv) the Company shall determine that the Trustee has failed to perform its obligations under this Indenture in any material respect;

 then, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by
order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.11, any Securityholder who has been a
bona fide Holder of a Security for at least six months may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment 

  

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of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor
trustee. If no successor trustee shall have been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition a court of competent jurisdiction for the appointment of a successor
trustee. 
 (c) The Holders of a majority in aggregate principal amount of the Securities at the time outstanding may at any time remove the
Trustee and appoint a successor trustee by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company the evidence provided for in Section 1.04 of the action in that regard taken by the Securityholders.

 (d) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this
Section 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 
 Section 7.11. Acceptance Of Appointment By Successor Trustee. Any successor trustee appointed as provided in Section 7.10 shall execute and deliver to the Company and to its predecessor trustee an instrument accepting such
appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and
obligations of its predecessor hereunder, with like effect as if originally named as trustee hereunder; but, nevertheless, on the written request of the Company or of the successor trustee, upon payment of its charges then unpaid, the trustee
ceasing to act shall pay over to the successor trustee all moneys at the time held by it hereunder and shall execute and deliver an instrument transferring to such successor trustee all such rights, powers, duties and obligations. Upon request of
any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless,
retain a prior claim upon all property or funds held or collected by such trustee to secure any amounts then due it pursuant to the provisions of Section 7.06. 
 No successor trustee shall accept appointment as provided in this Section 7.11 unless at the time of such acceptance such successor trustee shall be qualified under the provisions of Section 7.08 and
eligible under the provisions of Section 7.09. 
 Upon acceptance of appointment by any successor trustee as provided in this
Section 7.11, the Company shall mail notice thereof by first class mail to the Holders of Securities at their last addresses as they shall appear in the register. If the acceptance of appointment is substantially contemporaneous with the
resignation, then the notice called for by the preceding sentence may be combined 

  

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with the notice called for by Section 7.10. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be mailed at the expense of the Company. 
 Section 7.12. Merger,
Conversion, Consolidation Or Succession To Business Of Trustee. Any corporation or banking association into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or banking association resulting
from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or banking association, succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such corporation or banking association shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been
authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities shall not have
been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases such certificate shall have the full force and effect
that this Indenture provides for the certificate of authentication of the Trustee; provided, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee
shall apply only to its successor or successors by merger, conversion or consolidation. 
 Section 7.13. Preferential Collection Of
Claims Against The Company. The Trustee shall comply with the provisions of Section 311 of the TIA. 
 Section 7.14. Reports
By The Trustee. (a) The Trustee shall transmit to Holders and other persons such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the TIA on or before July 15 in each year that such
report is required, such reports to be dated as of the immediately preceding May 15. 
 A copy of each such report shall, at the time of
such transmission to Securityholders, be furnished to the Company and be filed by the Trustee with each stock exchange upon which the Securities are listed and also with the SEC. The Company agrees to notify the Trustee when and as the Securities
become admitted to trading on any national securities exchange. 
 Section 7.15. Trustee To Give Notice Of Default, But May Withhold
In Certain Circumstances. The Trustee shall transmit to the Securityholders, as the names and addresses of such Holders appear on the Security register, notice by 

  

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mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been
cured before the giving of such; provided that, except in the case of Default in the payment of the principal of, interest on, or other similar obligation with respect to, any of the Securities, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of
the Securityholders. 
 ARTICLE 8 
 DISCHARGE OF INDENTURE 
 Section 8.01. Discharge Of Liability On Securities.
When (i) the Company delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.07) for cancellation or (ii) all outstanding Securities have become due and payable and the Company
deposits with the Trustee cash or, if expressly permitted by the terms of the Securities, Class A Common Stock sufficient to pay all amounts due and owing on all outstanding Securities (other than Securities replaced pursuant to
Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 7.06, cease to be of further effect. The Trustee shall join in the execution of a document
prepared by the Company acknowledging satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’ Certificate and Opinion of Counsel and at the cost and expense of the Company. 
 Section 8.02. Repayment To The Company. The Trustee and the Paying Agent shall return to the Company upon written request any money or
securities 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 and the Trustee and the Paying Agent shall have no further liability to the Securityholders with respect to such money or
securities for that period commencing after the return thereof. 
 ARTICLE 9 
 AMENDMENTS 
 Section 9.01. Without Consent of Holders. The
Company and the Trustee may amend this Indenture or the Securities without the consent of any Securityholder: 
 (1) to cure
any ambiguity, omission, defect or inconsistency; provided, however, that such amendment does not materially adversely affect the rights of any Securityholder; 
  

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 (2) to comply with Article 5 or Article 11; 
 (3) to provide for uncertificated Securities in addition to the certificated securities so long as such uncertificated Securities are in
registered form for purposes of the Internal Revenue Code of 1986, as amended; 
 (4) to make any change that does not
adversely affect in any material respect the rights of any Securityholder; 
 (5) to make any change to comply with any
requirement of the SEC; or 
 (6) add to the Company’s covenants or obligations under this Indenture for the protection
of the Holders or surrender any right, power or option conferred by this Indenture on the Company in a manner that does not adversely affect in any material respect the rights of any Securityholder. 
 Section 9.02. With Consent Of Holders. With the written consent of the Holders of at least a majority in aggregate principal amount of the
Securities at the time outstanding, the Company and the Trustee may amend this Indenture or the Securities. However, without the consent of each Securityholder affected, an amendment to this Indenture or the Securities may not: 
 (1) make any change to the principal amount of Securities whose Holders must consent to an amendment; 
 (2) alter the manner or rate of accrual or extend the time for payment on any interest on any Security; 
 (3) reduce the principal amount of or extend the Stated Maturity of any Security; 
 (4) reduce the Redemption Price, Purchase Price or Fundamental Change Purchase Price of any Security; 
 (5) make any Security payable at a place of payment or in money or securities other than that stated in the Security; 
 (6) make any change in Section 6.04, Section 6.07 or this Section 9.02, except to increase any percentage set forth
therein; 
  

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 (7) make any change that adversely affects the right to convert any Security; 

(8) make any change to the right to require the Company to purchase the Securities in accordance with the terms thereof and this
Indenture or to the redemption provisions of the Securities and this Indenture in each case, in a manner adverse to the Securityholder; or 
 (9) impair the right to institute suit for the enforcement of any payment with respect to, or conversion of, the Securities. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 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 9.02 becomes effective, the Company shall mail to each Holder a notice briefly
describing the amendment. 
 Section 9.03. 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 9.04. 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 9.05. Trustee To Sign Supplemental Indentures. The Trustee shall sign any supplemental indenture authorized pursuant to this Article
9 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 be entitled to receive, and (subject to the provisions of Section 7.01) 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. 
  

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 Section 9.06. 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; and every Holder of Securities theretofore or thereafter authenticated and
delivered hereunder shall be bound thereby. 
 ARTICLE 10 
 PAYMENT OF INTEREST 
 Section 10.01. Payment Of
Interest; Interest Rights Preserved.  
 (a) The Securities shall bear periodic interest as set forth in paragraph 1 of the Securities.

 (b) Interest on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to
the person in whose name that Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Security shall be paid
in same-day funds by transfer to an account maintained by the payee located inside the United States. In the case of a permanent Global Security, any interest payable on any Interest Payment Date will be paid to the Depositary, with respect to that
portion of such permanent Global Security held for its account by Cede & Co. for the purpose of permitting such party to credit the interest received by it in respect of such permanent Global Security to the accounts of the beneficial
owners thereof. 
 (c) Except as otherwise specified with respect to the Securities, any interest on any Security that is payable on, but is
not punctually paid or duly provided for within 30 days following, any Interest Payment Date (herein called “Defaulted Interest”, which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in
accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, as
its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company may elect to make payment of
any Defaulted Interest to the persons in whose names the Securities are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the 

  

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proposed payment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money
when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not
more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special
Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities at his
address as it appears on the list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor
having been mailed as aforesaid, such Defaulted Interest shall be paid to the persons in whose names the Securities are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause
(2). 
 (2) The Company may make payment of any Defaulted Interest on the Securities in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and
Section 2.06, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security. 
 ARTICLE 11 
 CONVERSION 
 Section 11.01. Right to Convert. (a) Subject to the procedures for conversion set
forth in this Article 11, a Holder may convert its Securities prior to the close of business on the Scheduled Trading Day immediately preceding November 1, 2027 when one or more of the conditions specified below, at the 

  

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Applicable Conversion Rate (the “Conversion Obligation”). On and after November 1, 2027, as set forth under below, a Holder may convert
its Securities at the Applicable Conversion Rate until the close of business on the third Scheduled Trading Day immediately preceding the Stated Maturity regardless of the conditions specified below. 
 (i) Conversion Upon Satisfaction of Sale Price Condition. Prior to the close of business on the Scheduled Trading Day immediately
preceding November 1, 2027, a Holder may surrender all or a portion of its Securities for conversion during any fiscal quarter commencing after September 30, 2008 if the Last Reported Sale Price for the Class A Common Stock for at
least 20 Trading Days during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding fiscal quarter is greater than or equal to 130% of the Base Conversion Price in effect on such last Trading Day.

 (ii) Conversion Upon Satisfaction of Trading Price Condition. Prior to the close of business on the Scheduled
Trading Day immediately preceding November 1, 2027, a Holder may surrender its Securities for conversion during the five Business Day period after any 5 consecutive Trading Day period (the “Measurement Period”) in which the
Trading Price per $1,000 principal amount of Securities, as determined following a request by a Holder in accordance with the procedures set forth in this Section 11.01(a)(ii), for each Trading Day of the Measurement Period was less than 98% of
the product of the Last Reported Sale Price of the Class A Common Stock and the Applicable Conversion Rate (calculated for this purpose, on any date of determination, but using as the relevant Observation Period the five VWAP Trading Day period
ending on the Trading Day immediately preceding such date) for each such Trading Day. In connection with any conversion in accordance with this Section 11.01(a)(ii), the Bid Solicitation Agent shall have no obligation to determine the Trading
Price of the Securities unless requested by the Company; and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Securities
would be less than 98% of the product of the Last Reported Sale Price of the Class A Common Stock and the Applicable Conversion Rate. If a Holder provides the Company with reasonable evidence that the Trading Price of the Securities would be
less than 98% of the product of (a) the Applicable Conversion Rate of the Securities and (b) the Last Reported Sale Price at such time, then the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the
Securities beginning on the next Trading Day and on each successive Trading Day until the date on which the Trading Price per Note is greater than or equal to 98% of the product of (a) the Applicable Conversion Rate of the Securities and
(b) the Last Reported Sale Price (as provided to the Bid Solicitation Agent by the 

  

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Company on each such date). If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 principal amount of the Securities
is greater than or equal to 98% of the product of (a) the Applicable Conversion Rate of the Securities and (b) the Last Reported Sale Price on such date, the Bid Solicitation Agent shall have no further obligation to determine the Trading
Price of the Securities unless requested by the Company to do so again in writing pursuant to this clause. 
 (iii)
Conversion Upon Notice of Redemption. Prior to the Scheduled Trading Day immediately preceding November 1, 2027, if the Company calls any or all of the Securities for redemption, a Holder may surrender for the Securities called for
redemption at any time prior to the close of business on the Scheduled Trading Day prior to the related Redemption Date, even if the Securities are not otherwise convertible at such time, after which time a Holder’s right to convert will expire
unless the Company defaults in the payment of the Redemption Price. If a Holder already has delivered a purchase notice with respect to a Security, however, such Holder may not surrender that Security for conversion until it has withdrawn the
purchase notice in accordance with this Indenture. 
 (iv) Conversion Upon Specified Corporate Transactions.

 (A) Prior to the Scheduled Trading Day immediately preceding
November 1, 2027, if the Company is a party to a consolidation, merger or binding share exchange, in each case pursuant to which the Class A Common Stock would be converted into cash or property (other than securities), in which case a
Holder may surrender Securities for conversion at any time beginning 15 calendar days prior to the anticipated effective date of such transaction until the 15th calendar day following the effective date of such transaction (or, if the transaction constitutes a Fundamental Change, until the applicable Fundamental Change Purchase Date). Upon becoming aware of such a
transaction, the Company shall notify the Holders as soon as practicable of the anticipated effective of a transaction to which the provisions of this Section 11.01(iv) shall apply. 
 (B) Prior to the Scheduled Trading Day immediately preceding November 1, 2027, a Holder may surrender Securities for conversion if
the Company (i) distributes to all holders of the Class A Common Stock assets, debt securities or rights to purchase securities of the Company, which distribution has a per share value as determined by the Company’s Board of Directors
exceeding 15% of the Last Reported Sale Price of the Class A Common Stock on the day preceding the declaration date for such distribution or (ii) distributes to all holders of the Class A 

  

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Common Stock rights entitling them to purchase, for a period expiring within 60 days after the date of such distribution, Class A Common Stock at less
than the Last Reported Sale Price at the time of such distribution. In the case of the foregoing clauses (i) and (ii), the Company must notify the Holders of Securities at least 20 days prior to the Ex-Dividend Date for such distribution. Once
the Company has given such notice, Holders may surrender their Securities for conversion at any time thereafter until the earlier of the close of business on the Business Day prior to the ex-dividend date or the Company’s announcement that such
distribution will not take place. However, a Holder of the Securities will not have the right to convert if such Holder is permitted to participate in the distribution without conversion at the same time and on the same terms as Holders of the
Class A Common Stock as if such Holder held a number of shares of Class A Common Stock equal to the Applicable Conversion Rate in effect on the Trading Day immediately preceding the Ex-Dividend Date for such distribution. Solely for
purposes of the foregoing sentence, the Observation Period used to calculate the Applicable Conversion Rate will be the five VWAP Trading Days ending on the VWAP Trading Day immediately preceding the Ex-Dividend Date. 
 (v) Conversion After November 1, 2027. Notwithstanding the foregoing conditions, beginning on November 1, 2027, and until
the close of business on the Scheduled Trading Day immediately prior to the Stated Maturity, a Holder may surrender its Securities for conversion regardless of the foregoing conditions. 
 Section 11.02. Conversion Rate Adjustment Upon Certain Make-whole Fundamental Changes.  
 (a) If a Holder elects to convert Securities in connection with a Make-Whole Fundamental Change
that becomes effective prior to May 1, 2014, until the related Fundamental Change Purchase Date (or if there is no Fundamental Change Purchase Date, the 30th day after the Effective Date of the Make-Whole Fundamental Change), the Base Conversion Rate will be increased by an additional number of shares of Class A Common Stock (the “Additional Shares”)
as described below. For purposes of this Section 11.02, a conversion shall be deemed to be “in connection with” a Make-Whole Fundamental Change to the extent that the related Conversion Date occurs on or after the Effective
Date of such Make-Whole Fundamental Change and prior to the related Fundamental Change Repurchase Date, or if there is no such Fundamental Change Repurchase Date, 30th Scheduled Trading Day following such Effective Date (regardless of whether the
Securities are otherwise convertible because of other conditions set forth in Section 11.01). 
  

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 (b) The number of Additional Shares by which the Base Conversion Rate for the Securities will be
increased for conversions in connection with a Make-Whole Fundamental Change will be determined by reference to the table attached as Schedule A hereto, based on the date on which the Fundamental Change occurs or becomes effective
(“Effective Date,”) and the Stock Price; provided that if the actual Stock Price is between two Stock Price amounts in the table or the Effective Date is between two Effective Dates in the table, the number of Additional
Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the next higher and next lower Stock Price amounts and the two nearest Effective Dates, as applicable, based on a 365-day year;
provided further that if (i) the Stock Price is greater than $100.00 per share of Class A Common Stock (subject to adjustment in the same manner as set forth in clause (c) below), no Additional Shares shall be added to the Base
Conversion Rate, and (ii) the Stock Price is less than $7.35 per share of Class A Common Stock (subject to adjustment in the same manner as set forth in clause (c) below), no Additional Shares shall be added to the Base Conversion
Rate. Notwithstanding the foregoing, in no event shall the Company deliver (as a result of the Base Conversion Rate, Incremental Share Factor, and the Additional Shares) more than 194.6125 shares of Class A Common Stock (subject to adjustment
in the same manner as the Base Conversion Rate) for each $1,000 principal amount of Securities converted where the Base Conversion Rate is increased by the Additional Shares. 
 (c) The Stock Prices set forth in the first row of the table in Schedule A hereto shall be adjusted by the Company as of any date on which the Base
Conversion Rate of the Securities is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Base Conversion Rate in effect
immediately prior to the adjustment giving rise to the Stock Price adjustment and the denominator of which is the Base Conversion Rate as so adjusted. The number of Additional Shares within the table shall be adjusted in the same manner as the Base
Conversion Rate as set forth in Section 11.06. 
 Section 11.03. Exercise of Conversion Privilege.  
 (a) Before any Holder of a Note shall be entitled to convert the same as set forth above, such holder shall (i) in the case of a Global Note, comply
with the procedures of the Depositary in effect at that time and, if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 11.04(d) and, if required, pay all
taxes or duties, if any, and (ii) in the case of a Note issued in certificated form, (A) complete and manually sign and deliver an irrevocable written notice to the Conversion Agent in the form included in the form of the Securities
attached hereto as Exhibit A-1 (or a facsimile thereof) (a “Conversion Notice”) at the office of the Conversion Agent 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 shares of Class A 

  

 62 

 
Common Stock, if any, to be delivered upon settlement of the Conversion Obligation to be registered, (B) surrender such Securities, duly endorsed to the
Company or in blank (and accompanied by appropriate endorsement and transfer documents), at the office of the Conversion Agent, (C) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not
entitled as set forth in Section 11.04(d), and (D) if required, pay all taxes or duties, if any. A Note shall be deemed to have been converted immediately prior to the close of business on the date (the “Conversion Date”)
that the Holder has complied with the requirements set forth in this Section 11.03(a). 
 No Conversion Notice with respect to any
Securities may be tendered by a Holder thereof if such Holder has also tendered a Fundamental Change Repurchase Notice and not validly withdrawn such Fundamental Change Repurchase Notice in accordance with the applicable provisions of Article 3.

 If more than one Note shall be surrendered for conversion at one time by the same Holder, the Conversion Obligation with respect to such
Securities, if any, that shall be payable 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. 
 (b) In case any Note shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to upon the
written order of the Holder of the Security so surrendered, without charge to the Holder, a new Security in an authorized denomination equal in principal amount to the unconverted portion of the Security surrendered. 
 (c) If a Holder submits a Note for conversion, the Company shall pay all stamp and other duties, if any, which may be imposed by the United States or any
political subdivision thereof or taxing authority thereof or therein with respect to the issuance of shares of Class A Common Stock, if any, upon the conversion. However, the Holder shall pay any such tax which is due because the Holder
requests any shares of Class A Common Stock to be issued in a name other than the Holder’s name. The Company may refuse to deliver the certificates representing the shares of Class A Common Stock being issued in a name other than the
Holder’s name until the Company receives a sum sufficient to pay any tax which will be due because the shares are to be issued in a name other than the Holder’s name. Nothing herein shall preclude any tax withholding required by law or
regulations. 
 (d) Upon the conversion of an interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall
make a notation on such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversion of Securities effected through any Conversion Agent other than the Trustee.

  

 63 

 Section 11.04. Settlement of Conversion Obligation.  
 (a) The Company shall satisfy the Conversion Obligation with respect to each $1,000 principal amount of Securities tendered for conversion by delivering,
on the third Trading Day immediately following the last VWAP Trading Day of the related Observation Period, an aggregate amount in cash and shares of fully paid Class A Common Stock, if applicable, equal to the sum of the Daily Settlement
Amounts for each VWAP Trading Day of such Observation Period. 
 The Daily Settlement Amounts shall be determined by the Company promptly following the last
VWAP Trading Day of the Observation Period. 
 (b) The Company may elect, subject to the requirements set forth in this clause (b), to
deliver cash in lieu of all or a portion of the Daily Share Amount for any Daily Settlement Amount. By the close of business on the VWAP Trading Day prior to the first Scheduled Trading Day of the applicable Observation Period, the Company may
specify a percentage of each Daily Share Amount that will be settled in cash (the “Cash Percentage”) and will notify the Holder of such Cash Percentage through written notice to the Trustee (the “Cash Percentage
Notice”). If the Company elects to settle all or any portion of the Daily Share Amount in cash in connection with conversions of Securities within 22 Scheduled Trading Days prior to the Stated Maturity or Redemption Date, the Company will
send, on or prior to the first day of the applicable Observation Period, a single notice for all such conversions to the Trustee with respect to the Cash Percentage that will be paid in lieu of Class A Common Stock. If the Company elects to
specify a Cash Percentage, (i) the amount of cash that the Company will deliver in lieu of all or an applicable portion of the Daily Share Amount in respect of each VWAP Trading Day in the applicable Observation Period will equal the product
of: (A) the Cash Percentage, (B) the Daily Share Amount for such Trading Day (assuming for this purpose the Company has not specified a Cash Percentage), and (C) the Daily VWAP for such VWAP Trading Day and (ii) the number of
shares of Class A Common Stock deliverable in respect of each VWAP Trading Day in the applicable Observation Period (in lieu of the full Daily Share Amount for such Trading Day) will be based on a percentage of the Daily Share Amount (assuming
the Company has not specified a Cash Percentage) equal to 100% minus the Cash Percentage. The Company may, at its option, revoke any Cash Percentage Notice through written notice to the Trustee by the close of business on the VWAP Trading Day prior
to the first Scheduled Trading Day of the applicable Observation Period. If the Company does not specify a Cash Percentage by the close of business on the VWAP Trading Day prior to the first Scheduled Trading Day of the applicable Observation
Period, the Company shall settle 100% of the Daily Share Amount for each VWAP Trading Day in the applicable Observation Period in shares of Class A Common Stock (other than cash in lieu of fractional shares as provided herein). 
  

 64 

 (c) Any cash amounts due upon conversion by a Holder of Securities surrendered for conversion shall be
paid by the Company to such Holder, or such Holder’s nominee or nominees. In addition, the Company shall issue, or shall cause to be issued, any shares of Class A Common Stock due upon conversion to such Holder, or such Holder’s
nominee or nominees, certificates or a book-entry transfer through the Depositary (together with any cash in lieu of fractional shares). 
 (d) Upon conversion, a Holder shall not receive any separate cash payment for accrued and unpaid interest except as set forth in this clause (d). The Company’s settlement of the Conversion Obligation as described above shall be deemed
to satisfy its obligation to pay the principal amount of the Note and accrued and unpaid interest to, but not including, the Conversion Date. As a result, accrued and unpaid interest to, but not including, the Conversion Date shall be deemed to be
paid in full rather than cancelled, extinguished or forfeited. Notwithstanding the preceding sentence, if Securities are converted after the close of business, on a Regular Record Date for the payment of interest, Holders of such Securities as of
the close of business on the Regular Record Date shall receive the interest payable on such Securities on the corresponding Interest Payment Date notwithstanding the conversion. Securities surrendered for conversion during the period from the close
of business, on any Regular Record Date to the opening of business on the corresponding Interest Payment Date must be accompanied by payment of an amount equal to the interest payable on the Securities so converted; provided, however, that no
such payment need be made (i) if the Company has specified a Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date; (ii) to the extent of any overdue interest
existing at the time of conversion with respect to such Note; or (iii) if the Company has specified a Redemption Date of such Securities that is after the Regular Record Date and on or prior to the next succeeding Interest Payment Date. Except
as described above, no payment or adjustment shall be made for accrued interest on converted Securities. 
 Section 11.05. Fractions
of Shares. No fractional shares of Class A Common Stock shall be issued upon conversion of any Security or Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares
which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Class A Common Stock that
would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall calculate and pay a cash adjustment in respect of such fraction (calculated to the nearest 1/100th of a share) in an amount
equal to the Last Reported Sale Price of the Class A Common Stock on the last VWAP Trading Day of the relevant Observation Period. 
 Section 11.06. Adjustments to Base Conversion Rate and the Incremental Share Factor. The Base Conversion Rate shall be adjusted by the Company as 

  

 65 

 
described in this Section, except that the Company shall not make any adjustments to the Base Conversion Rate for any stock distribution or dividend pursuant
to clause (a) below, or any issuance or distribution pursuant to clauses (b), (c) or (d) below, if the Company, in its sole discretion, elects to allow Holder to participate in such distribution, dividend or issuance without
conversion at the same time and on the same terms as holders of the Class A Common Stock as if such Holder of Securities held a number of shares of the Class A Common Stock equal to the Applicable Conversion Rate in effect on the
Ex-Dividend Date for such distribution multiplied by the principal amount (expressed in thousands) of Securities held by such Holder. Solely for purposes of the foregoing sentence, the Observation Period used to calculate the Applicable Conversion
Rate will be the 5 VWAP Trading Days ending on the VWAP Trading Day immediately preceding the Ex-Dividend Date. The Company shall notify Holders of its decision to permit Holders to participate in such distribution at least 7 Scheduled Trading Days
preceding the Ex-Dividend Date. 
 At any time the Base Conversion Rate is adjusted as described below, the Incremental Share Factor will be
adjusted based on the based on the following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to such adjustment;
			
	CR’	 	=	  	the Base Conversion Rate in effect immediately after such adjustment;
			
	ISF0	 	=	  	the Incremental Share Factor as applicable, in effect immediately prior to such adjustment; and
			
	ISF’	 	=	  	the Incremental Share Factor as applicable, in effect immediately after to such adjustment.

 (a) If the Company issues shares of Class A Common Stock as a dividend or distribution on all
or substantially all shares of the Class A Common Stock, or effects a share split or share combination, the Base Conversion Rate will be adjusted based on the following formula: 
 

 
  

 66 

 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to the Ex-Dividend Date for such dividend or distribution, or the effective date of such share split or share combination, as the case may
be;
			
	CR’	 	=	  	the Base Conversion Rate in effect immediately after the Ex-Dividend Date for such dividend or distribution, or the effective date of such share split or share combination, as the case may be;

			
	OS0	 	=	  	the number of shares of Class A Common Stock outstanding immediately prior to the Ex-Dividend Date for such dividend or distribution, or the effective date of such share split or share
combination, as the case may be; and
			
	OS’	 	=	  	the number of shares of Class A Common Stock outstanding immediately after such dividend or distribution, or the effective date of such share split or share combination, as the case may
be.

 Such adjustment shall become effective immediately after (i) the Ex-Dividend Date for such dividend or
distribution or (ii) the date on which such split or combination becomes effective, as applicable. If any dividend or distribution of the type described in this Section 11.06(a) is declared but not so paid or made, the new Base Conversion
Rate shall again be adjusted to the Base Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (b) If the Company issues to all or substantially all holders of its Class A Common Stock any rights, warrants or convertible securities entitling them to purchase, for a period of not more than 60 calendar days, shares of Class A
Common Stock at a price per share less than the Last Reported Sale Price of the Class A Common Stock on the Trading Day immediately preceding the date of announcement for such distribution, the Base Conversion Rate will be adjusted based on the
following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to the Ex-Dividend Date for such distribution;
			
	CR’	 	=	  	the Base Conversion Rate in effect immediately after the Ex-Dividend Date for such distribution;
			
	OS0	 	=	  	the number of shares of Class A Common Stock outstanding immediately prior to the Ex-Dividend Date for such distribution;

  

 67 

					
	X	 	=	  	the total number of shares of Class A Common Stock issuable pursuant to such rights or warrants; and
			
	Y	 	=	  	the number of shares of Class A Common Stock equal to the aggregate price payable to exercise such rights or warrants divided by the average of the Last Reported Sale Prices of the Class A
Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such distribution.

 For purposes of this Section 11.06(b), in determining whether any rights, warrants or convertible securities
entitle the Holders to subscribe for or purchase shares of Class A Common Stock at less than the average of the applicable Last Reported Sale Prices, and in determining the aggregate exercise or Base Conversion Price payable for such shares of
Class A Common Stock, there shall be taken into account any consideration received by the Company for such rights, warrants or convertible securities and any amount payable on exercise or conversion thereof, with the value of such
consideration, if other than cash, to be determined by the Board of Directors. If any right or warrant described in this Section 11.06(b) is not exercised or converted prior to the expiration of the exercisability or convertibility thereof, the
Base Conversion Rate shall be readjusted to the Base Conversion Rate that would then be in effect if such right or warrant had not been so issued. Any adjustment made pursuant to this Section 11.06(b) shall become effective immediately after
the Ex-Dividend Date for the applicable distribution. 
 (c) If the Company distributes shares of Capital Stock, evidences of its
indebtedness or other assets or property of the Company to all holders of the Class A Common Stock, excluding: 
 (i)
dividends or distributions referred to in clause (a) or (b) above; 
 (ii) dividends or distributions paid
exclusively in cash; and 
 (iii) Spin-Offs to which the provisions set forth below in this clause (c) shall apply;

 then the Base Conversion Rate will be adjusted based on the following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to the Ex-Dividend Date for such distribution;
			
	CR’	 	=	  	the new Base Conversion Rate in effect immediately after the Ex-Dividend Date for such distribution;

  

 68 

					
			
	SP0	 	=	  	the average of the Last Reported Sale Prices of the Class A Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately prior to the Ex-Dividend Date for such
distribution; and
			
	FMV	 	=	  	the average of the Fair Market Values (as determined by the Board of Directors) of the shares of Capital Stock, evidences of indebtedness, assets or property distributed with respect to each
outstanding share of Class A Common Stock on the Ex-Dividend Date for such distribution.

 Such adjustment shall become effective immediately after the Ex-Dividend Date for the applicable distribution.

 With respect to an adjustment pursuant to this clause (c) where there has been a payment of a dividend or other distribution on the Class A
Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit (a “Spin-Off”), the Base Conversion Rate in effect immediately before 5:00 p.m., New
York City time, on the tenth Trading Day immediately following, and including, the effective date of the Spin-Off will be increased based on the following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to the tenth Trading Day immediately following, and including, the effective date of the Spin-Off;
			
	CR’	 	=	  	the Base Conversion Rate in effect immediately after the tenth Trading Day immediately following, and including, the effective date of the Spin-Off;
			
	FMV0	 	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of Class A Common Stock applicable to one share of Class A Common Stock over
the first 10 consecutive Trading Day period immediately following, and including, the effective date of the Spin-Off; and
			
	MP0	 	=	  	the average of the Last Reported Sale Prices of Class A Common Stock over the first 10 consecutive Trading Day period immediately following, and including, the effective date of the Spin-Off.

 Such adjustment shall occur immediately after the tenth Trading Day immediately following, and including, the
effective date of the Spin-Off provided that, for 

  

 69 

 
purposes of determining the Base Conversion Rate, in respect of any conversion during the ten Trading Days following the effective date of any Spin-Off,
references within the portion of this clause (c) related to “Spin-Offs” to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the effective date of such Spin-Off and the relevant
Conversion Date. 
 If any such dividend or distribution described in this clause (c) is declared but not paid or made, the Base Conversion Rate shall
be readjusted to be the Base Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (d) If
the Company pays any cash dividend or distribution to all or substantially all holders of its Class A Common Stock, the Base Conversion Rate will be adjusted based on the following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect immediately prior to the Ex-Dividend Date for such distribution;
			
	CR’	 	=	  	the Base Conversion Rate in effect immediately after the Ex-Dividend Date for such distribution;
			
	SP0	 	=	  	the Last Reported Sale Price of the Class A Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
			
	C	 	=	  	the amount in cash per share of Class A Common Stock of the Company distributes to holders of Class A Common Stock.

 An adjustment to the Base Conversion Rate made pursuant to this clause (d) shall become effective immediately
after the Ex-Dividend Date for the applicable dividend or distribution. If any dividend or distribution described in this clause (d) is declared but not so paid or made, the new Base Conversion Rate shall be readjusted to the Base Conversion
Rate that would then be in effect if such dividend or distribution had not been declared. 
  

 70 

 (e) If the Company or any of its Subsidiaries makes a payment in respect of a tender or exchange offer
for Class A Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Class A Common Stock (taken together) exceeds the Last Reported Sale Price of the Class A Common Stock on
the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the Base Conversion Rate will be increased based on the following formula: 
 

 
 where, 

					
			
	CR0	 	=	  	the Base Conversion Rate in effect at the close of business on the date such tender or exchange offer expires;
			
	CR’	 	=	  	the Base Conversion Rate in effect on the Trading Day next succeeding the date such tender or exchange offer expires;
			
	AC	 	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares purchased in such tender or exchange offer;
			
	OS0	 	=	  	the number of shares of Class A Common Stock outstanding immediately prior to the expiration of such tender or exchange offer;
			
	OS’	 	=	  	the number of shares of Class A Common Stock outstanding immediately after the expiration of such tender or exchange offer (after giving effect to the purchase or exchange of shares pursuant to
such tender or exchange offer); and
			
	SP’	 	=	  	the Last Reported Sale Price of Class A Common Stock on the Trading Day next succeeding the date such tender or exchange offer expires.

 If the Company or one of its Subsidiaries is obligated to purchase Class A Common Stock pursuant to any such
tender or exchange offer but are permanently prevented by applicable law from effecting any such purchase or all such purchases are rescinded, the Base Conversion Rate shall be readjusted to be the Base Conversion Rate that would be in effect if
such tender or exchange offer had not been made. 
 (f) No adjustment to the Base Conversion Rate will be made unless as specifically set
forth in this Section 11.06. Without limiting the foregoing, no adjustment to the Base Conversion Rate need be made: 
 (i) upon the issuance of any shares of Class A Common Stock pursuant to any current or future plan providing for the reinvestment of dividends or interest payable on securities of the Company and the investment of additional optional
amounts in shares of Class A Common Stock under any plan; 
 (ii) upon the issuance of any shares of Class A Common
Stock or options or rights to purchase shares of Class A Common Stock pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Company or any of its Subsidiaries; 
 (iii) upon the issuance of any shares of Class A Common Stock pursuant to any option, warrant, right, or exercisable, exchangeable or
convertible security not described in clause (ii) above and outstanding as of the Issue Date; 
  

 71 

 (iv) for a change in the par value of the Class A Common Stock; or 
 (v) for accrued and unpaid interest (including Additional Interest, if any). 
 (g) Adjustments to the Base Conversion Rate will be calculated to the nearest 1/10,000th of a share. The Company shall not be required to make an
adjustment in the Base Conversion Rate unless the adjustment would require a change of at least 1% in the Base Conversion Rate; provided that the Company shall carry forward any adjustments that are less than 1% of the Base Conversion Rate
and make such carried forward adjustments, regardless of whether the aggregate adjustment is less than 1% within one year of the first such adjustment carried forward, upon any conversion of Securities called for redemption or upon conversion in
connection with a Fundamental Change or during the 60 day period prior to Stated Maturity. 
 (h) Whenever the Base Conversion Rate and
Incremental Share Factor are adjusted as herein provided, the Company shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate setting forth the Base Conversion Rate and Incremental Share
Factor after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a Trust Officer of the Trustee shall have received such Officers’ Certificate, the Trustee shall not be deemed to have
knowledge of any adjustment of the Base Conversion Rate and Incremental Share Factor and may assume that the last Base Conversion Rate and Incremental Share Factor of which it has knowledge is still in effect. Promptly after delivery of such
certificate, the Company shall prepare a notice of such adjustment of the Base Conversion Rate and Incremental Share Factor setting forth the adjusted Base Conversion Rate and Incremental Share Factor and the date on which each adjustment becomes
effective and shall mail such notice of such adjustment of the Base Conversion Rate and Incremental Share Factor to the Holder of each Security at such Holder’s last address appearing on the Securities Register within 20 days after execution
thereof. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 
 (i) For purposes of this
Section 11.06, the number of shares of Class A Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions
of shares of Class A Common Stock. If the Company pays any dividend or makes any distribution on, or issues any rights, options or warrants in respect of, shares of Class A Common Stock held in treasury by the Company, the Company shall
not issue, transfer or convey such shares of Class A Common Stock in a manner that would have the effect of circumventing the provisions of this Section 11.06. 
  

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 Section 11.07. Company To Provide Stock. The Company shall, prior to issuance of any
Securities under this Article 11, and from time to time as may be necessary, reserve out of its authorized but unissued Class A Common Stock a sufficient number of shares of Class A Common Stock to permit the conversion of the Securities.

 All shares of Class A Common Stock delivered upon conversion of the Securities shall be newly issued shares or treasury shares, shall
be duly and validly issued and fully paid and nonassessable and shall be free from preemptive rights and free of any lien or adverse claim. 
 The Company will endeavor promptly to comply with all federal and state securities laws regulating the offer and delivery of shares of Class A Common Stock upon conversion of Securities, if any, and will list or cause to have quoted
such shares of Class A Common Stock on each national securities exchange or in the over-the-counter market or such other market on which the Class A Common Stock is then listed or quoted. 
 Section 11.08. Provision in Case of Effect of Reclassification, Consolidation, Merger or Sale. 
 If there shall be (i) any reclassification of shares of Class A Common Stock, (ii) a consolidation, merger or combination involving the
Company, or (iii) any sale or conveyance to another Person of all or substantially all of the property and assets of the Company, in any case as a result of which holders of Class A Common Stock shall be entitled to receive cash,
securities or other property (the “Reference Property”) with respect to or in exchange for such Class A Common Stock (any such event described in clauses (i) through (iii) a “Merger Event”), then,
following the effective time of any such Merger Event, the right to convert a Security will be based upon the Reference Property and the right to receive shares (if any) of Class A Common Stock upon conversion will be changed into the right to
receive the cash (in respect of clause (i) of the Daily Settlement Amount) and the kind and amount of Reference Property. From and after the effective time of such transaction: 
 (a) the Base Conversion Rate and Incremental Share Factor will relate to units of such Reference Property (a “unit” of Reference Property being
the kind and amount of Reference Property that a holder of one share of the Class A Common Stock would receive in such Merger Event) in an amount equal to the number of units of Reference Property received by a holder of Class A Common
Stock equal to the Base Conversion Rate and Incremental Share Factor, as applicable; and 
  

 73 

 (b) the Daily VWAP for each unit of Reference Property will determined based as follows: (i) to the
extent such reference property consists of a security traded or quoted on a securities exchange or trading market, the Daily VWAP for such security as described in Section 11.04, (ii) to the extent such Reference Property consists of cash,
the face amount of such cash and (iii) to the extent such Reference Property consists of other property, the Fair Market Value of such property as determined by a nationally recognized independent investment banking firm retained for this
purpose by the Company. 
 (c) In the case of any Merger Event, the Company or the successor or the purchasing person will execute a
supplemental indenture providing for the conversion and settlement of Notes as set forth above. Such supplemental indenture will provide that if the Reference Property includes securities that require registration with or approval of any
governmental authority under any federal or state law before such securities may be validly issued upon conversion of Notes, the Company or the successor or the purchasing person, as the case may be, will use all commercially reasonable efforts, to
the extent then permitted by the rules and interpretations of the SEC (or any successor thereto) or such other governmental authority, to secure such registration or approval. In no event will the Company or the successor person or the purchasing
person be required to pay cash if such registration or approval is not procured for any reason. 
 (d) For purposes of the foregoing, the
type and amount of consideration that a holder of Class A Common Stock would have been entitled to in the case of Merger Events that cause the Class A Common Stock be converted into the right to receive more than a single type of
consideration determined, based in part upon any form of stockholder election, will be deemed to be the weighted average of the types and amounts of consideration received by the holders of the Class A Common Stock that affirmatively make such
an election. 
 (e) The above provisions of this Section 11.09 shall similarly apply to successive Merger Events. 
 Section 11.09. Voluntary Increase. The Company from time to time may increase the Conversion Rate by any amount for a period of at least 20
days. Whenever the Conversion Rate is increased, the Company shall mail to Securityholders and file with the Trustee and the Conversion Agent a notice of the increase. The Company shall mail the notice at least 15 days before the date the increased
Conversion Rate takes effect. The notice shall state the increased Conversion Rate and the period it will be in effect. A voluntary increase of the Conversion Rate does not change or adjust the Conversion Rate otherwise in effect for purposes of
Section 11.06. 
 Section 11.10. Company Determination Final. Any determination that the Company or the Board of Directors
must make pursuant to Article 11 is conclusive. 
  

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 Section 11.11. Trustee’s Adjustment Disclaimer. The Trustee has no duty to determine
when an adjustment under this Article 11 should be made, how it should be made or what it should be. The Trustee has no duty to determine whether a supplemental indenture under Article 11 need be entered into or whether any provisions of any
supplemental indenture are correct. The Trustee shall not be accountable for and 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 the
Company’s failure to comply with this Article 11. Each Conversion Agent shall have the same protection under this Section 11.10 as the Trustee. 
 Section 11.12. Successive Adjustments. After an adjustment to the Base Conversion Rate under this Article 11, any subsequent event requiring an adjustment under this Article 11 shall cause an adjustment to
the Base Conversion Rate as so adjusted. 
 Section 11.13. Rights Issued In Respect Of Class A Common Stock Issued Upon
Conversion. Each share of Class A Common Stock issued upon conversion of Securities pursuant to this Article 11 shall be entitled to receive the appropriate number of Class A Common Stock or preferred stock purchase rights, as the case
may be (the “Rights”), if any, and the certificates representing the Class A Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any shareholder rights
agreement adopted by the Company, as the same may be amended from time to time (in each case, a “Rights Agreement”). Provided that such Rights Agreement requires that each share of Class A Common Stock issued upon conversion of
Securities at any time prior to the distribution of separate certificates representing the Rights be entitled to receive such Rights, then, notwithstanding anything else to the contrary in this Article 11, there shall not be any adjustment to the
conversion privilege or Base Conversion Rate as a result of the issuance of Rights, the distribution of separate certificates representing the Rights, the exercise or redemption of such Rights in accordance with any such Rights Agreement, or the
termination or invalidation of such Rights. If the Rights separate from the Class A Common Stock, at the time of such separation the Base Conversion Rate shall be adjusted as provided in Section 11.06 as if the Company had at that time
distributed the separated Rights. 
 Section 11.14. Exchange in Lieu of Conversion. Notwithstanding anything herein to the
contrary, when a Holder surrenders Securities for conversion, the Company may direct the Conversion Agent to surrender, prior to the commencement of the applicable Observation Period, such Securities to a financial institution designated by the
Company for exchange in lieu of conversion. In order to accept any Securities surrendered for conversion, the designated institution must agree to deliver to the Conversion Agent for delivery to such Holder, in exchange for such Securities to
be delivered to such designated institution by the Conversion Agent, all cash and shares of Class A Common Stock, if any, or a combination of cash and shares of Class A Common Stock, 

  

 75 

 
equal to the consideration otherwise due upon conversion, as provided under this Article 11 (assuming for this purpose and for the purpose of determining the
related Observation Period that the date such Holder surrenders such Securities for conversion is the Conversion Date for such Securities) at the sole option of the designated institution and as is designated to the Conversion Agent by the
Company. By the close of business on the Scheduled Trading Day immediately preceding the start of the Observation Period, the Company will notify the Holder surrendering Securities for conversion that it has directed the designated financial
institution to make an exchange in lieu of conversion and such designated institution will be required to notify the Conversion Agent, who will then notify the Holder, whether it will deliver, upon exchange, all cash or a combination of cash and
shares of Class A Common Stock (by specifying a Cash Percentage as provided under this Article 11). Because the financial institution will deliver cash and shares of Class A Common Stock as described in this Article 11, in no event will it
deliver shares of Class A Common Stock in respect of (i) of the definition of “Daily Settlement Amount.” 
 If the
designated institution accepts any such Securities, it will deliver cash and, if applicable, the appropriate number of shares of Class A Common Stock to the Conversion Agent on the date such cash and shares of Class A Common Stock, if any,
would otherwise be due as set forth in this Article 11 and the Conversion Agent will promptly deliver the cash and those shares to Holders. Any Securities exchanged by the designated institution will remain outstanding. If the designated institution
agrees to accept any Securities for exchange but does not timely deliver the related consideration, or if such designated financial institution does not accept the Securities for exchange, the Company shall, no later than the third Business Day
immediately following the last day of the applicable Observation Period, convert the Securities into cash and shares of Class A Common Stock, if any, in accordance with this Article 11 (based on such assumed Conversion Date as described above
and the specified Cash Percentage as described above). The Company’s designation of an institution to which the Securities may be submitted for exchange does not require the institution to accept any Securities. 
 ARTICLE 12 
 SUBORDINATION 
 Section 12.01. Agreement To Subordinate. The Debt evidenced by the Securities is
subordinated in right of payment, to the extent and in the manner provided in the Indenture, to the prior payment of all Senior Debt. The subordination provisions in this Article 12 are for the benefit of and enforceable by the holders of Senior
Debt. 
  

 76 

 Notwithstanding the foregoing, the Securities shall rank pari passu to (i) the Company’s
Convertible Subordinated Debentures due 2020 and to (ii) the Company’s Zero-Coupon Convertible Senior Subordinated Debentures due 2022. 
 Section 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution of the assets of the Company to creditors upon a total or partial liquidation or a total or partial dissolution of the Company or in a
bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property: 
 (1)
holders of Senior Debt are entitled to receive payment in full in cash of all Obligations in respect of Senior Debt, including all interest accrued or accruing on Senior Debt after the commencement of any bankruptcy, insolvency or reorganization or
similar case or proceeding at the contract rate (including, without limitation, any contract rate applicable upon default) specified in the relevant documentation, whether or not the claim for the interest is allowed as a claim in the case or
proceeding with respect to the Senior Debt (only such payment constituting “payment in full”) before Securityholders will be entitled to receive any payment of principal of or interest on the Securities; and 
 (2) until the Senior Debt is paid in full and payment has been made to the Trustee for amounts due under Section 7.06, any
distribution to which Securityholders would be entitled but for these subordination provisions shall instead be made to holders of Senior Debt and the Trustee as their interests may appear. 
 Section 12.03. Default On Designated Senior Debt. (a) The Company shall not pay the principal of or interest on the Securities or make
any deposit pursuant to the provisions of Article 8 and shall not, pursuant to the provisions of Article 3 or otherwise, repurchase, redeem or otherwise retire any Securities (collectively, “pay the Securities”) if at the time any
Designated Senior Debt has not been paid when due, whether at maturity, upon redemption or mandatory repurchase, acceleration, or otherwise, and the default has not been cured or waived. 
 (b) During the continuance of any other default with respect to any Designated Senior Debt pursuant to which the maturity thereof may be accelerated
immediately without further notice (except any notice that may be required to effect acceleration) or upon the expiration of a grace period, the Company may not pay the Securities for a period (a “Payment Blockage Period”)

 (1) commencing upon the receipt by the Company and the Trustee of written notice of default from the holders of any
Designated Senior Debt specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and 
  

 77 

 (2) ending 179 days thereafter (or earlier if the Payment Blockage Period is terminated
(i) by written notice to the Trustee and the Company from the Person that gave the Blockage Notice, (ii) by repayment in full of such Senior Debt or (iii) because the default giving rise to the Blockage Notice is no longer
continuing). 
 Unless the holders of such Senior Debt have accelerated the maturity of such Senior Debt, the Company may resume payments on
the Securities after the Payment Blockage Period. 
 (c) Not more than one Blockage Notice may be given in any consecutive 360-day period,
irrespective of the number of defaults with respect to Senior Debt during such period. No default which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Senior Debt whose holders initiated
the Payment Blockage Period may be made the basis of the commencement of a subsequent Payment Blockage Period by the holders of such Senior Debt, whether or not within a period of 360 consecutive days, unless the default has been cured or waived for
a period of not less than 90 consecutive days. 
 Section 12.04. When Distribution Must Be Paid Over. If a payment or other
distribution is made to Securityholders that because of these subordination provisions should not have been made to them, the Securityholders that receive the distribution shall hold it in trust for holders of Senior Debt and pay it over to them as
their interests may appear. 
 Section 12.05. Subrogation. A distribution made under these subordination provisions to holders of
Senior Debt which otherwise would have been made to Securityholders is not, as between the Company and Securityholders, a payment by the Company on Senior Debt. After all Senior Debt is paid in full and until the Securities are paid in full,
Securityholders will be subrogated to the rights of holders of Senior Debt to receive payments in respect of Senior Debt, which, to the extent received by Securityholders, do not constitute, as between the Company and the Securityholders, payments
by the Company on the Securities. 
 Section 12.06. Relative Rights; Subordination Not To Prevent Events Of Default Or Limit Right To
Accelerate. These subordination provisions define the relative rights of Securityholders and holders of Senior Debt and do not impair, as between the Company and Securityholders, the obligation of the Company, which is absolute and
unconditional, to pay principal of and interest on the Securities in accordance with their terms. The failure to make a payment pursuant to the Securities by reason of these subordination provisions does not prevent the occurrence of a Default, nor
do these subordination provisions have any effect on the right of the Securityholders or the Trustee to accelerate the maturity of the Securities upon an Event of Default or prevent the Trustee or any Securityholder from exercising its available
remedies upon a Default, subject to the rights of holders of Senior Debt to receive distributions otherwise payable to Securityholders. 
  

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 Section 12.07. Subordination May Not Be Impaired By Company. No right of any holder of Senior
Debt to enforce the subordination of the Securities will be impaired by any act or failure to act by the Company or by its failure to comply with the Indenture. 
 Section 12.08. Rights Of Trustee. (a) The Trustee may continue to make payments on the Securities and will not be charged with knowledge of the existence of facts that would prohibit the making of any
such payments unless, not less than two Business Days prior to the date of such payment, the Trustee receives notice satisfactory to it from the Company or a holder of Senior Debt that payments may not be made under this Article. 
 (b) The Trustee in its individual or any other capacity may hold Senior Debt with the same rights, including rights under this Article, it would have if
it were not Trustee. Nothing in this Article applies to claims of, or payments to, the Trustee under or pursuant to Section 7.06. 
 Section 12.09. Distributions And Notices To, And Notices And Consents By, Representatives Of Holders Of Senior Debt. Whenever a distribution is to be made or a notice given to holders of Senior Debt, the distribution may be made
and the notice given to their representative (if any). If there is a representative acting for the holders of any Senior Debt pursuant to the agreements governing such Senior Debt, notices or consents under the Indenture from holders of such Senior
Debt may be given only by their representative. 
 Section 12.10. Trustee Entitled To Rely. For the purpose of ascertaining the
outstanding amount of Senior Debt, the holders thereof, and all other information relevant to making any payment or distribution to holders of Senior Debt pursuant to this Article, the Trustee and the Securityholders are entitled to rely upon an
order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 12.02 are pending, a certificate of the liquidating trustee or other Person making a payment or distribution to the Trustee or to
the Securityholders, or information provided by the holders of Senior Debt. The Trustee may defer any payment or distribution pending receipt of evidence or instructions satisfactory to it or a judicial determination regarding the rights of parties
to receive the payment or distribution. 
 Section 12.11. Trustee To Effectuate Subordination. Each Securityholder by accepting a
Security authorizes and directs the Trustee on behalf of the Securityholder to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Securityholders and the holders of Senior Debt as provided
in this Article and appoints the Trustee as attorney-in-fact for any and all such purposes, including for the purpose of filing a claim in any proceedings of the nature referred to in Section 12.02. 
  

 79 

 Section 12.12. Trustee Not Fiduciary For Holders Of Senior Debt. The Trustee will not be
deemed to owe any fiduciary duty to the holders of Senior Debt and will not be liable to any such holders if it mistakenly pays over or distributes to Securityholders, or to the Company or any other Person, any money or assets to which holders of
Senior Debt are entitled by virtue of this Article. 
 Section 12.13. Reliance By Holder Of Senior Debt On Subordination Provisions;
No Waiver. (a) Each Securityholder by accepting a Security acknowledges and agrees that these subordination provisions are, and are intended to be, an inducement and a consideration to each holder of Senior Debt, whether created or acquired
before or after the issuance of the Securities, to acquire or to hold such Senior Debt, and each holder of Senior Debt will be deemed conclusively to have relied on these subordination provisions in acquiring and holding such Senior Debt.

 (b) The holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the
Securityholders, without incurring any liability or responsibility to the Securityholders, and without impairing the rights of holders of Senior Debt under these subordination provisions, do any of the following: 
 (1) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt or any instrument
evidencing the same or any agreement under which Senior Debt is outstanding or secured; 
 (2) sell, exchange, release or
otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; 
 (3) release any Person liable in any
manner for the payment of Senior Debt; or 
 (4) exercise or refrain from exercising any rights against the Company and any
other Person. 
 ARTICLE 13 
 MISCELLANEOUS 
 Section 13.01. 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:
	
	 Health Management Associates, Inc.

	 5811 Pelican Bay Boulevard
 Suite 500
 Naples, Florida 34108-2710

  

 80 

	
	 Telephone No. (941) 598-3051

	 Facsimile No. (941) 596-1426
 Attention: Robert E. Farnham, Chief Financial Officer

	 With a Copy to: Timothy R. Parry, Senior Vice President and General Counsel

	
	if to the Trustee:
	
	 U.S Bank National Association

	 200 South Biscayne Blvd. Suite 1870
 Miami, FL 33131

	 Phone: (305) 350-1738

	 Fax: (305) 350-1746

	 Attention: Corporate Trust Administration

 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. 
 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. 
 Section 13.02. 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 13.03. 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, the Company shall furnish to the
Trustee: 
 (1) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and 
  

 81 

 (2) an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with. 
 Section 13.04. 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 of Counsel are based; 
 (3) a statement that, in the opinion of each such person,
he 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 13.05. 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 13.06. 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, Conversion Agent and the Paying Agent may make
reasonable rules for their functions. 
 Section 13.07. 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 such date is a payment in respect of
the Securities, no interest, if any, shall accrue for the intervening period. 
 Section 13.08. Governing Law. THIS INDENTURE AND
THE SECURITIES WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 13.09. No
Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability for 

  

 82 

 
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 13.10. 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 13.11. 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. 
  

 83 

 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. 
  

			
	HEALTH MANAGEMENT ASSOCIATES, INC.
		
	By:	 	 /s/ Timothy R. Parry

	Name:	 	Timothy R. Parry
	Title:	 	Senior Vice President

  

			
	U.S. BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Michael C. Daly

	Name:	 	Michael C. Daly
	Title:	 	Vice President

  

 84 

 SCHEDULE A 
 Make-Whole Table 
 The following table sets forth the number of Additional Shares to be added to the
Base Conversion Rate per $1,000 principal amount of Securities pursuant to Section 11.06 of this Indenture: 
 Number of Additional
Shares 
 (per $1,000 principal amount of the notes) 
 

 
  

 85 

 EXHIBIT A-1 
 [FORM OF FACE OF GLOBAL SECURITY] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY TO THE ISSUER 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 IN WHOLE, BUT NOT IN PART, 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 (OR ITS PREDECESSOR) AND ANY CLASS A COMMON STOCK ISSUABLE UPON THE CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND ACCORDINGLY MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE ORIGINAL ISSUE
DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT (A) TO HEALTH MANAGEMENT
ASSOCIATES INC. OR ANY OF ITS SUBSIDIARIES OR AFFILIATES, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, (C) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 

  

 86 

 
144A, OR (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, OR ANY OTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (IN WHICH CASE THE ISSUER MAY REQUIRE SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS MAY REASONABLY BE REQUIRED TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO
AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT) AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION;
AND 
 (2) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE AS TO THE ABOVE
RESTRICTIONS. 
 THE LAST THREE PARAGRAPHS OF THE FOREGOING LEGEND MAY BE REMOVED FROM THIS SECURITY ONLY UPON SATISFACTION OF THE CONDITIONS
SPECIFIED IN THE INDENTURE. 
  

 87 

 HEALTH MANAGEMENT ASSOCIATES, INC. 
 3.75% Convertible Senior Subordinated Notes due 2028 
  

							
	No. R-1	 		 	 CUSIP: 421933AJ1
 ISIN: US421933AJ17
	 	
			
	 Issue Date: May 21, 2008
 Principal
Amount: $250,000,000
	 		 	

 HEALTH MANAGEMENT ASSOCIATES, INC., a Delaware corporation, promises to pay to Cede & Co.
or registered assigns, the principal amount of TWO-HUNDRED AND FIFTY MILLION DOLLARS ($250,000,000) on May 1, 2028. 
 This Security
shall bear interest as specified on the reverse of this Security. This Security is convertible as specified on the reverse of this Security. 
 Additional provisions of this Security are set forth on the reverse of this Security. 
  

					
	Dated: May 21, 2008	 	HEALTH MANAGEMENT ASSOCIATES, INC.
			
		 	By	 	  

		 	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
(as
 defined on the other side of this Security).

		
	 By
	 	  

		 	Authorized Signatory
		
	 Dated:
	 	  

  

 88 

 [FORM OF REVERSE OF SECURITY] 
 3.75% Convertible Senior Subordinated Notes due 2028 
  

	1.	Interest. 

 Interest, shall accrue from May 21,
2008 or the most recent date to which interest has been paid or duly provided for, at 3.75% per annum on the principal sum hereof, using a 360-day year composed of twelve 30-day months, from the Issue Date of this Security. The Company shall
pay interest in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, semi-annually in arrears on May 1 and November 1 of each year, beginning on
November 1, 2008, to Holders of record as of the immediately preceding April 15 or October 15, as the case may be. Interest on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date
shall be paid to the person in whose name that Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. The Company shall pay interest
(i) on any Securities in certificated form by check mailed to the address of the Person entitled thereto as it appears in the register of the Registrar or (ii) on any Global Securities by wire transfer of immediately available funds to the
account of the Depositary or its nominee. The Company will also pay the Additional Interest, if any, on the same dates and in the same manner. All references to interest include such Additional Interest. 
 The Company shall pay interest on overdue principal, or if shares of Class A Common Stock (or cash in lieu of fractional shares) in respect of a
conversion of this Security in accordance with the terms of Article 11 of the Indenture are not delivered when due, at the rate borne by the Securities plus 1% per annum, and it shall pay interest in cash on overdue installments of interest at
the same rate to the extent lawful. All such overdue interest shall be payable on demand. 
 Except as otherwise specified with respect to
the Securities, any Defaulted Interest on any Security shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the
Company as provided for in Section 10.01(b) of the Indenture. 
  

	2.	Method of Payment. 

 Subject to the terms and
conditions of the Indenture, the Company will make payments in respect of the principal of, premium, if any, and interest on this Security; provided that payment by wire transfer of immediately available funds will be required with respect to
principal of, premium, if any, and interest on all Global Securities and all other Securities the Holders of which shall have provided wire transfer instructions to the Company or to the Paying Agent. Subject to the terms and conditions of the
Indenture, the Company will make payments in respect of Redemption Prices, Purchase Prices and Fundamental 

  

 89 

 
Change Purchase Prices 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. Any payment required to be made on any day
that is not a Business Day will be made on the next succeeding Business Day. 
  

	3.	Paying Agent, Conversion Agent and Registrar. 

 Initially, U.S. Bank, National Association (in such capacity, together with its successors in trust, the “Trustee”), will act as Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying
Agent, Conversion Agent, Registrar or co-registrar without notice, other than notice to the Trustee except 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, Registrar or co-registrar. 
  

	4.	Indenture. 

 The Company issued the Securities under
an Indenture dated as of May 21, 2008 (the “Indenture”), between the Company and the Trustee. The terms of the Securities include those stated in the Indenture. Capitalized terms used herein and not defined herein have the
meanings ascribed thereto in the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture for a statement of those terms. 
 The Securities are general unsecured obligations of the Company limited to $250,000,000 aggregate principal amount (subject to Section 2.07 of the
Indenture). 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 redeemable as a whole, or from time to time in part, at any time at the option of the Company at a Redemption Price equal to 100% of principal plus accrued and unpaid interest to the
Redemption Date; provided that the Securities are not redeemable prior to May 1, 2014. 
  

	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 May 1, 2014, May 1, 2018 and May 1, 2023 (each, a
“Purchase 

  

 90 

 
Date”) and at a Purchase Price in cash equal to 100% of principal amount, plus accrued and unpaid interest to the Purchase Date upon delivery of a
Purchase 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 Purchase Date until the close of business on the Business Day prior to the Purchase
Date and upon delivery of the Securities to the Paying Agent by the Holder as set forth in the Indenture. 
 Holders have the right to
withdraw any Purchase Notice by delivering to the Paying Agent a written notice of withdrawal in accordance with the provisions of the Indenture. 
 Holders will not have the right to require the Company to purchase any Securities on a Purchase Date if the Company has given notice of its redemption of such Securities prior to the date 20 Business Days prior to such Purchase Date.

 If cash sufficient to pay the Purchase Price of all Securities or portions thereof to be purchased as of the Purchase Date is deposited
with the Paying Agent on the Business Day following the Purchase Date, such Securities will cease to be outstanding and interest shall cease to accrue on such Securities (or portions thereof) and will be deemed paid immediately after such Purchase
Date whether or not such Securities have been delivered to the Paying Agent, and the Holder thereof shall have no other rights as such (other than the right to receive the Purchase Price upon surrender of such Security). 
  

	7.	Purchase by the Company upon Fundamental Change. 

 At the option of the Holder and subject to the terms and conditions of the Indenture, the Company shall become obligated to purchase all or a portion of the Securities held by such Holder on or before the 35th day after the date of the
Fundamental Change Notice, subject to extension in compliance with applicable law, of the Company for a Fundamental Change Purchase Price equal to the principal amount plus accrued and unpaid interest to the Fundamental Change Purchase Date.

 Holders have the right to withdraw any Fundamental Change Purchase Notice 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 Fundamental Change Purchase Price of all Securities or
portions thereof to be purchased as of the Fundamental Change Purchase Date is deposited with the Paying Agent on the Business Day following the Fundamental Change Purchase Date, as the case may be, such Securities will cease to be outstanding and
interest shall cease to accrue on such Securities (or portions thereof) and will be deemed paid immediately after such Fundamental Change Purchase Date whether or not such Securities have been delivered to the Paying Agent, and the Holder thereof
shall have no other rights as such (other than the right to receive the Fundamental Change Purchase Price upon surrender of such Security). 
  

 91 

	8.	Notice of Redemption. 

 Notice of redemption 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, such Securities (or portions thereof) shall cease to be outstanding and interest thereon shall cease to accrue. 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. 
  

	9.	Conversion. 

 Subject to the conditions and
procedures set forth in Article 11 of the Indenture, a Holder of a Security may convert it into cash and, if applicable, Class A Common Stock. 
 The initial Base Conversion Rate is 85.0340 shares of Class A Common Stock per $1,000 principal amount, subject to adjustment in certain events described in the Indenture. The Company will deliver cash or a check in lieu of any
fractional share of Class A Common Stock. Pursuant to Section 11.04 of the Indenture, upon conversion the Company may elect to deliver cash in lieu of all or any portion of such Class A Common Stock. 
 The Base Conversion Rate is subject to adjustment at such times as specified in Article 11 of the Indenture. 
  

	10.	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 Purchase Notice or 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 any Securities for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed. 
  

 92 

	11.	Persons Deemed Owners. 

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

	12.	Unclaimed Money or Securities. 

 The Trustee and the
Paying Agent shall return to the Company upon written request any money or securities 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. 
  

	13.	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 Securities at the time outstanding and (ii) certain Defaults
may be waived with the written consent of the Holders of a majority in aggregate principal amount of the Securities at the time outstanding. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the
Company and the Trustee may amend the Indenture or the Securities as set forth in Section 9.01 of the Indenture. 
  

	14.	Defaults and Remedies. 

 If an Event of Default (as
defined in the Indenture) occurs and is continuing, the Trustee, or the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding, may declare all the Securities to be due and payable immediately. Certain events
of bankruptcy or insolvency are Events of Default which will result in the Securities becoming due and payable immediately upon the occurrence of such Events of Default. 
 Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or
security. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities at the time outstanding may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders
notice of any continuing Default (except a Default in payment of amounts specified in clause (i) or (ii) above) if it determines that withholding notice is in their interests. 
  

 93 

	15.	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 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. 
  

	16.	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. 
  

	17.	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). 
  

	18.	GOVERNING LAW. 

 THE INDENTURE AND THIS SECURITY
WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE 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 in larger type. Requests may be made to: 
 Health Management Associates, Inc. 
 5811 Pelican Bay Boulevard 
 Suite 500 
 Naples, Florida 34108-2710

 Attention: Chief Financial Officer 
  

 94 

					
	ASSIGNMENT FORM	 		  	CONVERSION NOTICE
			
	To assign this Security, fill in the form below:	 		  	To convert this Security into Class A 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.)	 		  
			
	  
	 		  	$            
			
	  
	 		  	If you want the stock certificate made out in another person’s name, fill in the form below:
	  
	 		  
			
	(Print or type assignee’s name, address and zip code)	 		  	  

			
		 		  	  

			
	and irrevocably appoint	 		  	(Insert other person’s soc. sec. or tax ID no.)
			
	                             agent
to transfer this Security on the books of the Company. The agent may substitute another to act for him.	 		  	  

	 	  	  

	 	  	  

		 		  	(Print or type other person’s name, address and zip code)

  

							
				
	Date:                     	 		 	Your Signature:	 	  

 (Sign exactly as your name appears on the other side of this Security) 
  

 95 

 FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE 
  

	To:	Health Management Associates, Inc. 

 The undersigned
registered holder of this Security hereby acknowledges receipt of a notice from Health Management Associates, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and requests and instructs
the Company to repurchase this Security, or the portion hereof (which is $1,000 original principal amount or a integral multiple thereof) designated below, in accordance with the terms of the Indenture referred to in this Security and directs that
the check in payment for this Security be issued and delivered to the registered holder hereof unless a different name has been indicated below. If any portion of this Security not repurchased is to be issued in the name of a Person other than the
undersigned, the undersigned shall pay all transfer taxes payable with respect thereto. 
  

			
	Dated:	 	  

		 	Signature(s)

 Principal Amount to be purchased (if less than all): $        ,000

 Social Security or Other Taxpayer Number 
  

 96 

 EXHIBIT B-1 
 Transfer Certificate 
 In connection with any transfer of any of the Securities within the first
anniversary of the Issue Date, the undersigned registered owner of this Security hereby certifies with respect to $             principal amount of the above-captioned securities
presented or surrendered on the date hereof (the “Surrendered Securities”) 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 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 U.S. Securities Act of 1933, as amended (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 the exemption from registration provided by Rule 144 adopted under the Securities Act (if available).

 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. 

  

			
	DATE:                     
                    	 	  

		 	Signature(s)

 (If the registered owner is a corporation, partnership or 
 fiduciary, the title of the Person signing on behalf of 
 such registered owner must be stated.) 
  

 97Purchase Agreement

 Exhibit 10.1 
 $225,000,000 AGGREGATE PRINCIPAL AMOUNT 
 HEALTH MANAGEMENT ASSOCIATES, INC. 
 3.75% CONVERTIBLE SENIOR SUBORDINATED NOTES 
 DUE 2028 
 Purchase Agreement 
 dated May 15, 2008 

 Purchase Agreement 
 May 15, 2008 
 BANC OF AMERICA SECURITIES LLC 
 9 West 57th Street 
 New York, New York 10019 
 Ladies and Gentlemen: 
 Health Management Associates, Inc., a Delaware corporation (the
“Company”), proposes to issue and sell to the several purchasers named in Schedule A (the “Initial Purchasers”), $225,000,000 in aggregate principal amount of its 3.75% Convertible Senior Subordinated Notes due 2028
(the “Firm Notes”). In addition, the Company has granted to the Initial Purchasers an option to purchase up to an additional $25,000,000 in aggregate principal amount of its 3.75% Convertible Senior Subordinated Notes due May May 1,
2028 (the “Optional Notes” and, together with the Firm Notes, the “Notes”), as provided in Section 2. Banc of America Securities LLC (“BAS”) has agreed to act as representatives of the several Initial Purchasers
(in such capacity, the “Representatives”) in connection with the offering and sale of the Notes. To the extent that there are no additional Initial Purchasers listed on Schedule A other than you, the terms Representatives and
Initial Purchasers as used herein shall mean you, as Initial Purchasers. The terms Representatives and Initial Purchasers shall mean either the singular or plural as the context requires. 
 The Notes will be convertible on the terms, and subject to the conditions, set forth in the indenture (the “Indenture”) to be entered into
between the Company and the U.S. Bank, N.A., as trustee (the “Trustee”), on the Closing Date (as defined herein). As used herein, “Conversion Shares” means the fully paid, nonassessable shares of common stock, par value $0.01 per
share, of the Company (the “Common Stock”), if any, to be received by the holders of the Notes upon conversion of the Notes pursuant to the terms of the Notes and the Indenture. The Notes will be convertible initially at a conversion rate
of 85.0340 shares per $1,000 principal amount of the Notes, on the terms, and subject to the conditions, set forth in the Indenture. 
 The
Notes will be offered and sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended, and the rules and regulations of the Securities and Exchange Commission (the “Commission”) thereunder (the
“Securities Act”), in reliance upon an exemption therefrom. This Agreement, the Indenture and the Notes are referred to herein collectively as the “Operative Documents”. 
 The Company understands that the Initial Purchasers propose to make an offering of the Notes on the terms and in the manner set forth herein and in the
Disclosure Package (as defined below), including the Preliminary Offering Memorandum (as defined below), and the Final Offering Memorandum (as defined below) and agrees that the Initial Purchasers may resell, subject to the conditions set forth
herein, all or a portion of the Notes to purchasers (the “Subsequent Purchasers”) at any time after the date of this Agreement. 
 The Company has prepared an offering memorandum, dated the date hereof, setting forth information concerning the Company, the Notes and the Common Stock, in form and substance reasonably satisfactory to the Initial Purchasers. As used in
this Agreement, “Offering Memorandum” means, collectively, 

 
the Preliminary Offering Memorandum dated as of May 15, 2008 (the “Preliminary Offering Memorandum”) and the offering memorandum dated the
date hereof (the “Final Offering Memorandum”), each as then amended or supplemented by the Company. As used herein, each of the terms “Disclosure Package”, “Offering Memorandum”, “Preliminary Offering
Memorandum” and “Final Offering Memorandum” shall include in each case the documents incorporated or deemed to be incorporated by reference therein. 
 The Company hereby confirms its agreements with the Initial Purchasers as follows: 
 Section 1.
Representations, Warranties and Covenants of the Company. 
 The Company hereby represents and warrants to, and covenants with, each
Initial Purchaser as follows: 
 (a) No Registration. Assuming the accuracy of the representations and warranties of the Initial
Purchasers contained in Section 6 and their compliance with the agreements set forth therein, it is not necessary, in connection with the issuance and sale of the Notes to the Initial Purchasers, the offer, resale and delivery of the Notes by
the Initial Purchasers and the conversion of the Notes into Conversion Shares, in each case in the manner contemplated by this Agreement, the Indenture, the Disclosure Package and the Offering Memorandum, to register the Notes or the Conversion
Shares under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). 
 (b) No Integration. None of the Company or any of its subsidiaries has, directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any
“security” (as defined in the Securities Act) that is or will be integrated with the sale of the Notes or the Conversion Shares in a manner that would require registration under the Securities Act of the Notes or the Conversion Shares.

 (c) Rule 144A. No securities of the same class (within the meaning of Rule 144A(d)(3) under the Securities Act) as the Notes are
listed on any national securities exchange registered under Section 6 of the Exchange Act, or quoted on an automated inter-dealer quotation system. 
 (d) Exclusive Agreement. The Company has not paid or agreed to pay to any person any compensation for soliciting another person to purchase any securities of the Company (except as contemplated in this
Agreement). 
 (e) Offering Memoranda. The Company hereby confirms that it has authorized the use of the Disclosure Package, including
the Preliminary Offering Memorandum, and the Final Offering Memorandum in connection with the offer and sale of the Notes by the Initial Purchasers. Each document, if any, filed or to be filed pursuant to the Exchange Act and incorporated by
reference in the Disclosure Package or the Final Offering Memorandum complied when it was filed, or will comply when it is filed, as the case may be, in all material respects with the Exchange Act and the rules and regulations of the Commission
thereunder. The Preliminary Offering Memorandum, at the date thereof, did not contain any 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. At the date of this Agreement, the Closing Date and on any Subsequent Closing Date, the Final Offering Memorandum did not and will not (and any amendment or supplement thereto, at the date thereof, at the
Closing Date and on any Subsequent Closing Date, will not) contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided that the Company makes no representation or warranty 

  

 2 

 
as to information contained in or omitted from the Preliminary Offering Memorandum or the Final Offering Memorandum in reliance upon and in conformity with
written information furnished to the Company by any Initial Purchaser through BAS expressly for use therein, it being understood and agreed that the only such information furnished by any Initial Purchaser consists of the information described as
such in Section 8 hereof. 
 (f) Disclosure Package. The term “Disclosure Package” shall mean (i) the Preliminary
Offering Memorandum, as amended or supplemented at the Applicable Time, (ii) the Final Term Sheet (as defined herein) and (iii) any other writings that the parties expressly agree in writing to treat as part of the Disclosure Package
(“Issuer Written Information”). As of 5:00 pm, New York time, on the date of execution and delivery of this Agreement (the “Applicable Time”), the Disclosure Package did not contain any untrue statement of a material fact or omit
to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from the Disclosure
Package based upon and in conformity with written information furnished to the Company by any Initial Purchaser through BAS expressly for use therein, it being understood and agreed that the only such information furnished by any Initial Purchaser
consists of the information described as such in Section 8 hereof. 
 (g) Statements in Offering Memorandum. The statements in
the Disclosure Package and the Final Offering Memorandum under the heading “Certain United States Income Tax Considerations”, insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are
accurate and fair summaries of such legal matters, agreements, documents or proceedings. 
 (h) Offering Materials Furnished to Initial
Purchasers. The Company has delivered to the Representatives copies of the materials contained in the Disclosure Package and the Final Offering Memorandum, each as amended or supplemented, in such quantities and at such places as the
Representatives have reasonably requested for each of the Initial Purchasers. 
 (i) Authorization of the Purchase Agreement. This
Agreement has been duly authorized, executed and delivered by the Company. 
 (j) Authorization of the Indenture. The Indenture has
been duly authorized by the Company and, on the Closing Date, the Indenture will have been duly executed and delivered by the Company and, assuming due authorization, execution and delivery thereof by the Trustee, will constitute a legally valid and
binding agreement of the Company enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors or by general equitable principles; and the Indenture conforms in all material respects to the description thereof contained in the Disclosure Package and the Final Offering Memorandum. 
 (k) Authorization of the Notes. The Notes have been duly authorized by the Company; when the Notes are executed, authenticated and issued in
accordance with the terms of the Indenture and delivered to and paid for by the Initial Purchasers pursuant to this Agreement on the respective Closing Date (assuming due authentication of the Notes by the Trustee), such Notes will constitute
legally valid and binding obligations of the Company, entitled to the benefits of the Indenture and enforceable against the Company in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles; and the Notes will conform in all material respects to the description thereof contained in the
Disclosure Package and the Final Offering Memorandum. 
  

 3 

 (l) Authorization of the Conversion Shares. The Conversion Shares have been duly authorized and
reserved and, when issued upon conversion of the Notes in accordance with the terms of the Notes and the Indenture, will be validly issued, fully paid and nonassessable, and the issuance of such shares will not be subject to any preemptive or
similar rights. 
 (m) No Material Adverse Change. Except as otherwise disclosed in the Disclosure Package and the Final Offering
Memorandum (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement), subsequent to the respective dates as of which information is given in the Disclosure Package: (a) there has been no material adverse
change in the condition, financial or otherwise, or in the earnings, business, operations or affairs or business prospects of the Company and its subsidiaries considered as one entity, whether or not arising in the ordinary course of business (any
such change is called a “Material Adverse Change”), (b) there has not been any material adverse change or any development involving a prospective material adverse change in the capital stock or in the long-term debt of the Company or
any of its subsidiaries considered as one enterprise and (c) neither the Company nor any of its subsidiaries considered as one enterprise has incurred any material liability or obligation, direct or contingent. 
 (n) Independent Accountants. Ernst & Young LLP, who have expressed their opinion with respect to the financial statements (which term as
used in this Agreement includes the related notes thereto) included as a part of or incorporated by reference in the Disclosure Package and the Final Offering Memorandum, are independent registered public accountants with respect to the Company as
required by the Securities Act and the Exchange Act and the applicable published rules and regulations thereunder. 
 (o) Preparation of
the Financial Statements. The financial statements included or incorporated by reference in the Disclosure Package and the Final Offering Memorandum present fairly the consolidated financial position, results of operations and statements of cash
flows of the Company and its subsidiaries on the basis stated or incorporated by reference at the respective dates or for the respective periods to which they apply; to the extent required, such statements have been prepared in accordance with
generally accepted accounting principles in the United States (“GAAP”) consistently applied throughout the periods involved, except as disclosed therein; and the other financial and statistical information and data set forth or
incorporated by reference in the Disclosure Package and the Final Offering Memorandum (and any amendment or supplement thereto) are, in all material respects, accurately presented and prepared on a basis consistent with such financial statements and
the books and records of the Company, as the case may be. 
 (p) Incorporation and Good Standing of the Company and its Subsidiaries.
Each of the Company and its subsidiaries has been duly incorporated or formed, as the case may be, and is validly existing as a corporation or other entity, as the case may be, in good standing under the laws of its jurisdiction of its incorporation
or formation, as the case may be, and has the power and authority to own or lease, as the case may be, and operate its properties and to conduct its business as described in the Disclosure Package and the Final Offering Memorandum and, in the case
of the Company, to enter into and perform its obligations under this Agreement. The Company and each of its subsidiaries is duly qualified as a foreign corporation or other entity to transact business and is in good standing in each jurisdiction in
which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions where the failure to so qualify or to be in good standing would not, individually or in the
aggregate, result in a material adverse effect on the condition, financial or otherwise, or on the earnings, business, properties, operations or prospects, whether or not arising from transactions in the ordinary course of business, of the Company
and its subsidiaries, considered as one entity (a “Material Adverse Effect”). 
  

 4 

 (q) Subsidiaries. All of the outstanding shares of capital stock or other equity interests of each
subsidiary have been duly authorized and validly issued, are fully paid and nonassessable and, except as disclosed in the Disclosure Package and Final Offering Memorandum, are owned by the Company, directly or through subsidiaries, free and clear of
any security interest, mortgage, pledge, lien, encumbrance or claim, except for any security interest, pledge, lien, encumbrance or claim arising under that certain Credit Agreement dated as of February 16, 2007 among the Company, Bank of
America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Wachovia Bank, National Association, as Syndication Agent, and certain other parties thereto and the documents entered into in connection therewith (the “Credit
Agreement”). Except as set forth on Schedule C, the Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21 to the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2007. 
 (r) Capitalization and Other Capital Stock Matters. The
authorized, issued and outstanding capital stock of the Company is as set forth in the Disclosure Package and the Final Offering Memorandum under the caption “Capitalization” (other than for subsequent issuances, if any, pursuant to
employee benefit plans described in the Disclosure Package and the Final Offering Memorandum or upon exercise of outstanding options or warrants described in the Disclosure Package and the Final Offering Memorandum, as the case may be). The Common
Stock (including the Conversion Shares) conforms in all material respects to the description thereof contained in the Disclosure Package and the Final Offering Memorandum. All of the outstanding shares of Common Stock have been duly authorized and
validly issued, are fully paid, nonassessable and are not subject to preemptive rights, rights of first refusal or other similar rights other than those accurately described in the Disclosure Package or the Final Offering Memorandum. The outstanding
shares of Common Stock have been issued in compliance with federal and state securities laws. The description of the Company’s stock option, stock bonus and other stock plans or arrangements, and the options or other rights granted thereunder,
set forth or incorporated by reference in the Disclosure Package and the Final Offering Memorandum accurately and fairly presents and summarizes such plans, arrangements, options and rights in all material respects. 
 (s) Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required. Neither the Company nor any of its subsidiaries is
(i) in violation of its respective charter or by-laws, (ii) in default (or, with the giving of notice or lapse of time, would be in default) (“Default”) in the performance of any obligation, agreement, covenant or condition
contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument that is material to the Company and its subsidiaries, taken as a whole, to which the Company or any of its subsidiaries is a party or by which the Company
or any of its subsidiaries or their respective property is bound or (iii) in violation of any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other
authority having jurisdiction over the Company or such subsidiary or any of its properties, as applicable, except, with respect to clause (i) above only, as would not reasonably be expected to have a Material Adverse Effect. 
 The execution, delivery and performance of this Agreement, the Indenture and the Notes and the consummation of the transactions contemplated herein and
in the Disclosure Package and the Final Offering Memorandum (including the issuance and sale of the Notes and the use of the proceeds from the sale of the Notes as described in the Disclosure Package and the Final Offering Memorandum under the
caption “Use of Proceeds”) and compliance by the Company with its obligations hereunder and under the Indenture and the Notes by the Company, compliance by the Company with all provisions hereof and thereof and the consummation of the
transactions contemplated hereby and thereby will not (a) require any consent, approval, authorization or other order of, or qualification with, any court or governmental body or agency (except such as may be required under the securities or
Blue Sky laws of the various 

  

 5 

 
states), (b) conflict with or constitute a breach of any of the terms or provisions of, or a Default under, the charter or by-laws of the Company or any
of its subsidiaries or any indenture, loan agreement, mortgage, lease or other agreement or instrument that is material to the Company and its subsidiaries, taken as a whole, to which the Company or any of its subsidiaries is a party or by which the
Company or any of its subsidiaries or their respective property is bound, (c) violate or conflict with any applicable law or any rule, regulation, judgment, order or decree of any court or any governmental body or agency having jurisdiction
over the Company, any of its subsidiaries or their respective property, (d) result in the imposition or creation of (or the obligation to create or impose) a lien under any material agreement or material instrument to which the Company or any
of its subsidiaries is a party or by which the Company or any of its subsidiaries or their respective property is bound (an “Existing Instrument”), or (e) result in the termination, suspension or revocation of any Authorization (as
defined below) of the Company or any of its subsidiaries or result in any other impairment of the rights of the holder of any such Authorization. 
 (t) No Material Actions or Proceedings. Except as otherwise disclosed in the Disclosure Package and the Final Offering Memorandum, there are no legal or governmental actions, suits or proceedings pending or, to the best of the
Company’s knowledge, threatened against or affecting the Company or any of its subsidiaries, (i) which have as the subject thereof any officer or director of, or property owned or leased by, the Company or any of its subsidiaries or
(ii) relating to environmental or discrimination matters, where in either such case, (A) there is a reasonable possibility that such action, suit or proceeding might be determined adversely to the Company or such subsidiary, or any officer
or director of, or property owned or leased by, the Company or any of its subsidiaries and (B) any such action, suit or proceeding, if so determined adversely, would reasonably be expected to have a Material Adverse Effect or adversely affect
the consummation of the transactions contemplated by this Agreement. 
 (u) Labor Matters. No labor problem or dispute with the
employees of the Company or any of its subsidiaries exists or is threatened or imminent, and the Company is not aware of any existing, threatened or imminent labor disturbance by the employees of any of its or its subsidiaries’ principal
suppliers, contractors or customers, that would not reasonably be expected to have a Material Adverse Effect. 
 (v) Intellectual Property
Rights. The Company and its subsidiaries own, possess, license or have other rights to use, on reasonable terms, all patents, patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses,
inventions, trade secrets, technology, know-how and other intellectual property (collectively, the “Intellectual Property”) necessary for the conduct of the Company’s business as now conducted or as proposed in the Disclosure Package
and the Final Offering Memorandum to be conducted. Except as set forth in the Disclosure Package and the Final Offering Memorandum, (a) no party has been granted an exclusive license to use any portion of such Intellectual Property owned by the
Company; (b) to the Company’s knowledge, there is no material infringement by third parties of any such Intellectual Property owned by or exclusively licensed to the Company; (c) there is no pending or, to the Company’s
knowledge, threatened action, suit, proceeding or claim by others challenging the Company’s rights in or to any material Intellectual Property, and the Company is unaware of any facts that would form a reasonable basis for any such claim;
(d) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such material Intellectual Property, and the Company is unaware of any facts that would
form a reasonable basis for any such claim; and (e) there is no pending or threatened action, suit, proceeding or claim by others that the Company’s business as now conducted infringes or otherwise violates any material Intellectual
Property rights of third parties. 
 (w) All Necessary Permits, etc. Each of the Company and its subsidiaries has such permits,
licenses, consents, exemptions, franchises, authorizations and other approvals (each, an “Authorization”) of, and has made all filings with and notices to, all governmental or regulatory authorities and self-regulatory 

  

 6 

 
organizations and all courts and other tribunals, including, without limitation, under any applicable Environmental Laws (as defined below), as are necessary
to own, lease, license and operate its respective properties and to conduct its business, except where the failure to have any such Authorization or to make any such filing or notice would not, singly or in the aggregate, have a Material Adverse
Effect. Each such Authorization is valid and in full force and effect and each of the Company and its subsidiaries is in compliance with all the terms and conditions thereof and with the rules and regulations of the authorities and governing bodies
having jurisdiction with respect thereto; and no event has occurred (including, without limitation, the receipt of any notice from any authority or governing body) which allows, or, after notice or lapse of time or both, would allow, revocation,
suspension or termination of any such Authorization or results or, after notice or lapse of time or both, would result in any other impairment of the rights of the holder of any such Authorization; and such Authorizations contain no restrictions
that are burdensome to the Company or any of its subsidiaries; except where such failure to be valid and in full force and effect or to be in compliance, the occurrence of any such event or the presence of any such restriction would not, singly or
in the aggregate, have a Material Adverse Effect. 
 (x) Title to Properties. The Company and each of its subsidiaries has good and
marketable title to all the properties and assets reflected as owned in the financial statements referred to in Section 1(o) above, in each case free and clear of any security interests, mortgages, liens, encumbrances, equities, claims and
other defects, except for (i) liens securing the obligations under the Credit Agreement or (ii) those as do not materially and adversely affect the value of such property and do not materially interfere with the use made or proposed to be
made of such property by the Company or such subsidiary. The real property, improvements, equipment and personal property held under lease by the Company or any subsidiary are held under valid and enforceable leases, with such exceptions as are not
material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or such subsidiary. 
 (y) Tax Law Compliance. The Company and its subsidiaries have filed all necessary federal, state, local and foreign income and franchise tax
returns in a timely manner and have paid all taxes required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of them, except for any taxes, assessments, fines or penalties as
may be being contested in good faith and by appropriate proceedings. The Company has made appropriate provisions in the financial statements referred to in Section 1(o) above in respect of all federal, state, local and foreign income and
franchise taxes for all current or prior periods as to which the tax liability of the Company or any of its subsidiaries has not been finally determined. 
 (z) Company Not an “Investment Company”. The Company has been advised of the rules and requirements under the Investment Company Act of 1940, as amended, and the rules and regulations promulgated
thereunder (the “Investment Company Act”). The Company is not, and after receipt of payment for the Notes and the application of the proceeds thereof as contemplated under the caption “Use of Proceeds” in the Disclosure Package
and the Final Offering Memorandum will not be, an “investment company” within the meaning of the Investment Company Act and will conduct its business in a manner so that it will not become subject to the Investment Company Act. 

(aa) Compliance with Reporting Requirements. The Company is subject to and in full compliance with the reporting requirements of
Section 13 or Section 15(d) of the Exchange Act. 
 (bb) Insurance. The Company and its subsidiaries are adequately self
insured or are insured by recognized, financially sound and reputable institutions with policies in such amounts and with such deductibles and covering such risks as are generally deemed adequate and customary for their businesses including, but not
limited to, policies covering real and personal property owned or leased by the Company 

  

 7 

 
and its subsidiaries against theft, damage, destruction, acts of terrorism or vandalism and (if applicable) earthquakes. All policies of insurance insuring
the Company or any of its subsidiaries or their respective businesses, assets, employees, officers and directors are in full force and effect; the Company and its subsidiaries are in compliance with the terms of such policies and instruments in all
material respects; and there are no material claims by the Company or any of its subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; and neither
the Company nor any such subsidiary has been refused any insurance coverage sought or applied for. The Company has no reason to believe that it or any subsidiary will not be able (i) to renew its existing insurance coverage as and when such
policies expire or (ii) to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not have a Material Adverse Effect. 
 (cc) No Restriction on Dividends or Other Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying
any dividends or other distributions to the Company, from making any other distribution on such subsidiary’s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such
subsidiary’s property or assets to the Company or any other subsidiary of the Company, except (i) as set forth in the Credit Agreement, (ii) under the governing documents of any joint venture arrangement to which the Company or any
subsidiary is a party, (iii) statutory or regulatory restrictions applicable to Insurance Company of the Southeast, Ltd., an exempted company organized under the laws of the Cayman Islands, or Southwest Physicians Risk Retention Group, Inc., a
captive insurance company organized under the laws of the State of South Carolina, or (iv) as described in or contemplated by the Disclosure Package or the Final Offering Memorandum. 
 (dd) No Price Stabilization or Manipulation. The Company has not taken and will not take, directly or indirectly, any action designed to or that
might be reasonably expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Notes. 
 (ee) Related Party Transactions. There are no material business relationships or related-party transactions involving the Company or any
subsidiary or any other person that have not been described in the Disclosure Package or the Final Offering Memorandum. 
 (ff) No General
Solicitation. None of the Company or any of its affiliates (as defined in Rule 501(b) of Regulation D under the Securities Act (“Regulation D”)) has, directly or through an agent, engaged in any form of general solicitation or general
advertising in connection with the offering of the Notes or the Conversion Shares (as those terms are used in Regulation D) under the Securities Act or in any manner involving a public offering within the meaning of Section 4(2) of the
Securities Act; and the Company has not entered into any contractual arrangement with respect to the distribution of the Notes or the Conversion Shares except for this Agreement. 
 (gg) Compliance with Environmental Laws. Except as otherwise disclosed in the Disclosure Package and the Final Offering Memorandum,
(i) neither the Company nor any of its subsidiaries is in violation of any federal, state, local or foreign law, regulation, order, permit or other requirement relating to pollution or protection of human health or the environment (including,
without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including without limitation, laws and regulations relating to emissions, discharges, releases or threatened releases of chemicals,
pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum and petroleum products (collectively, “Materials of Environmental Concern”), or otherwise relating to the manufacture, processing, distribution, use,
treatment, storage, disposal, transport or handling of Materials of Environmental 

  

 8 

 
Concern (collectively, “Environmental Laws”), which violation includes, but is not limited to, noncompliance with any permits or other governmental
authorizations required for the operation of the business of the Company or its subsidiaries under applicable Environmental Laws, or noncompliance with the terms and conditions thereof, nor has the Company or any of its subsidiaries received any
written communication, whether from a governmental authority, citizens group, employee or otherwise, that alleges that the Company or any of its subsidiaries is in violation of any Environmental Law, except as would not, individually or in the
aggregate, have a Material Adverse Effect; (ii) there is no claim, action or cause of action filed with a court or governmental authority, no investigation with respect to which the Company has received written notice, and no written notice by
any person or entity alleging potential liability for investigatory costs, cleanup costs, governmental responses costs, natural resources damages, property damages, personal injuries, attorneys’ fees or penalties arising out of, based on or
resulting from the presence, or release into the environment, of any Material of Environmental Concern at any location owned, leased or operated by the Company or any of its subsidiaries, now or in the past (collectively, “Environmental
Claims”), pending or, to the Company’s knowledge, threatened against the Company or any of its subsidiaries or any person or entity whose liability for any Environmental Claim the Company or any of its subsidiaries has retained or assumed
either contractually or by operation of law, except as would not, individually or in the aggregate, have a Material Adverse Effect; (iii) to the best of the Company’s knowledge, there are no past, present or anticipated future actions,
activities, circumstances, conditions, events or incidents, including, without limitation, the release, emission, discharge, presence or disposal of any Material of Environmental Concern, that reasonably could result in a violation of any
Environmental Law, require expenditures to be incurred pursuant to Environmental Law, or form the basis of a potential Environmental Claim against the Company or any of its subsidiaries or against any person or entity whose liability for any
Environmental Claim the Company or any of its subsidiaries has retained or assumed either contractually or by operation of law, except as would not, individually or in the aggregate, have a Material Adverse Effect; and (iv) neither the Company
nor any of its subsidiaries is subject to any pending or, to the Company’s knowledge, threatened proceeding under Environmental Law to which a governmental authority is a party and which is reasonably likely to result in monetary sanctions of
$100,000 or more. 
 (hh) ERISA Compliance. None of the following events has occurred or exists: (i) a failure to fulfill the
obligations, if any, under the minimum funding standards of Section 302 of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and the regulations and published interpretations thereunder with
respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii) an audit or investigation by the Internal Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty
Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by the Company or any of its subsidiaries that would reasonably be expected to have a Material
Adverse Effect; (iii) any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries that would
reasonably be expected to have a Material Adverse Effect. None of the following events has occurred or is reasonably likely to occur: (i) a material increase in the aggregate amount of contributions required to be made to all Plans in the
current fiscal year of the Company and its subsidiaries compared to the amount of such contributions made in the Company and its subsidiaries’ most recently completed fiscal year; (ii) a material increase in the Company and its
subsidiaries’ “accumulated post-retirement benefit obligations” (within the meaning of Statement of Financial Accounting Standards 106) compared to the amount of such obligations in the Company and its subsidiaries’ most recently
completed fiscal year; (iii) any event or condition giving rise to a liability under Title IV of ERISA that would reasonably be expected to have a Material Adverse Effect; or (iv) except as disclosed in the Disclosure Package and the Final
Offering Memorandum, a claim by one or more employees or former employees of the Company or any of its subsidiaries related to its or their employment that would 

  

 9 

 
reasonably be expected to have a Material Adverse Effect. For purposes of this paragraph, the term “Plan” means a plan (within the meaning of
Section 3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any liability. 
 (ii) Accounting Controls and Disclosure Controls. The Company and its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurances that (1) transactions are executed in accordance
with management’s general or specific authorization; (2) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for
assets; (3) access to assets is permitted only in accordance with management’s general or specific authorization; and (4) the recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences. Except as described in the Disclosure Package and the Final Offering Memorandum, since the end of the Company’s most recent audited fiscal year, there has been (I) no material
weakness in the Company’s internal control over financial reporting (whether or not remediated) and (II) no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to
materially affect, the Company’s internal control over financial reporting. 
 The Company and its subsidiaries employ disclosure
controls and procedures that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods
specified in the Commission’s rules and forms, and is accumulated and communicated to the Company’s management, including its principal executive officer or officers and principal financial officer or officers, as appropriate, to allow
timely decisions regarding disclosure. The Company and its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a- 15 and 15d-15 of the Exchange Act. 
 (jj) Compliance with the Sarbanes-Oxley Act of 2002. There has been no failure on the part of the Company or any of the Company’s directors
or officers, in their capacities as such, to comply, in all material respects, with any provision of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and
Sections 302 and 906 related to certifications. 
 Any certificate signed by an officer of the Company and delivered to the Representatives
or to counsel for the Initial Purchasers shall be deemed to be a representation and warranty by the Company to each Initial Purchaser as to the matters set forth therein. 
 Section 2. Purchase, Sale and Delivery of the Notes 
 (a) The Firm Notes. The Company
agrees to issue and sell to the several Initial Purchasers the Firm Notes upon the terms herein set forth. On the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set
forth, the Initial Purchasers agree, severally and not jointly, to purchase from the Company the respective aggregate principal amount of Firm Notes set forth opposite their names on Schedule A. The purchase price per Firm Note to be
paid by the several Initial Purchaser to the Company shall be 97.75% of the aggregate principal amount thereof. 
 (b) The Closing
Date. Delivery of the Firm Notes to be purchased by the Initial Purchasers and payment therefor shall be made at the offices of Cahill Gordon & Reindel LLP, 80 Pine Street, New York, New York (or such other place as may
be agreed to by the Company and BAS) at 9:00 a.m., New York time, on May 21, 2008, or such other time and date as agreed upon in writing by BAS and the Company (the time and date of such closing are called the “Closing Date”).

  

 10 

 (c) The Optional Notes; any Subsequent Closing Date. In addition, on the basis of the
representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Initial Purchasers to purchase, solely to cover over-allotments,
severally and not jointly, up to an additional $25,000,000 aggregate principal amount of Optional Notes from the Company at the same price as the purchase price per Firm Note to be paid by the Initial Purchasers for the Firm Notes. The option
granted hereunder may be exercised at any time and from time to time upon notice by BAS to the Company, which notice may be given at any time within 30 days from the date of this Agreement. Such notice shall set forth (i) the amount (which
shall be an integral multiple of $1,000 in aggregate principal amount) of Optional Notes as to which the Initial Purchasers are exercising the option, (ii) the names and denominations in which the Optional Notes are to be registered and
(iii) the time, date and place at which such Optional Notes will be delivered (which time and date may be simultaneous with, but not earlier than, the Closing Date; and in such case the term “Closing Date” shall refer to the time and
date of delivery of the Firm Notes and the Optional Notes). Each time and date of delivery, if subsequent to the Closing Date, is called a “Subsequent Closing Date” and shall be determined by BAS and shall not be earlier than the Closing
Date nor later than 10 business days after delivery of such notice of exercise. If any Optional Notes are to be purchased, each Initial Purchaser agrees, severally and not jointly, to purchase the aggregate principal amount of Optional Notes
(subject to such adjustments to eliminate fractional amounts as BAS may determine) that bears the same proportion to the total aggregate principal amount of Optional Notes to be purchased as the aggregate principal amount of Firm Notes set forth on
Schedule A opposite the name of such Initial Purchaser bears to the total aggregate principal amount of Firm Notes. 
 (d)
Payment for the Notes. Payment for the Notes shall be made at the Closing Date (and, if applicable, at any Subsequent Closing Date) by wire transfer of immediately available funds to the order of the Company. 
 It is understood that the Representatives have been authorized, for their own account and the accounts of the several Initial Purchasers, to accept
delivery of and receipt for, and make payment of the purchase price for, the Firm Notes and any Optional Notes the Initial Purchasers have agreed to purchase. BAS, individually and not as the Representative of the Initial Purchasers, may (but shall
not be obligated to) make payment for any Notes to be purchased by any Initial Purchaser whose funds shall not have been received by the Representatives by the Closing Date or any Subsequent Closing Date, as the case may be, for the account of such
Initial Purchaser, but any such payment shall not relieve such Initial Purchaser from any of its obligations under this Agreement. 
 (e)
Delivery of the Notes. The Company shall deliver, or cause to be delivered, to the Representatives for the accounts of the several Initial Purchasers the Firm Notes at the Closing Date, against the irrevocable release of a wire transfer of
immediately available funds for the amount of the purchase price therefor. The Company shall also deliver, or cause to be delivered, to the Representatives for the accounts of the several Initial Purchasers, the Optional Notes the Initial Purchasers
have agreed to purchase at the Closing Date or any Subsequent Closing Date, as the case may be, against the irrevocable release of a wire transfer of immediately available funds for the amount of the purchase price therefor. Delivery of the Firm
Notes and the Optional Notes shall be made through the facilities of The Depository Trust Company unless BAS shall otherwise instruct. Time shall be of the essence, and delivery at the time and place specified in this Agreement is a further
condition to the obligations of the Initial Purchasers. 
  

 11 

 Section 3. Covenants of the Company 
 The Company covenants and agrees with each Initial Purchaser as follows: 
 (a) BAS’ Review of Proposed Amendments and Supplements. During such period beginning on the date hereof and ending on the date of the completion of the resale of the Notes by the Initial Purchasers (as
notified by the Initial Purchasers to the Company), prior to amending or supplementing the Disclosure Package or the Final Offering Memorandum, the Company shall furnish to BAS for review a copy of each such proposed amendment or supplement, and the
Company shall not print, use or distribute such proposed amendment or supplement to which BAS reasonably objects. 
 (b) Amendments and
Supplements to the Offering Memorandum and Other Securities Act Matters. If, at any time prior to the completion of the resale of the Notes by the Initial Purchasers (as notified by the Initial Purchasers to the Company), any event or
development shall occur or condition exist as a result of which it is necessary to amend or supplement the Disclosure Package or the Final Offering Memorandum in order that the Disclosure Package or the Final Offering Memorandum will not include an
untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made or then prevailing, as the case may be, not misleading, or if in
the opinion of BAS or counsel for the Initial Purchasers it is otherwise necessary to amend or supplement the Disclosure Package or the Final Offering Memorandum to comply with law, the Company shall promptly notify the Initial Purchasers and
prepare, subject to Section 3(a) hereof, such amendment or supplement as may be necessary to correct such untrue statement or omission. 
 (c) Copies of Disclosure Package and the Offering Memorandum. The Company agrees to furnish to the Representatives, without charge, until the earlier of nine months after the date hereof or the completion of the resale of the Notes
by the Initial Purchasers (as notified by the Initial Purchasers to the Company) as many copies of the materials contained in the Disclosure Package and the Final Offering Memorandum and any amendments and supplements thereto as the Representatives
may reasonably request. 
 (d) Blue Sky Compliance. The Company shall cooperate with the Representatives and counsel for the Initial
Purchasers, as the Initial Purchasers may reasonably request from time to time, to qualify or register the Notes for sale under (or obtain exemptions from the application of) the state securities or blue sky laws or Canadian provincial securities
laws or other foreign laws of those jurisdictions designated by the Representatives, shall comply with such laws and shall continue such qualifications, registrations and exemptions in effect so long as required for the distribution of the Notes.
The Company shall not be required to qualify as a foreign corporation or to take any action that would subject it to general service of process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as
a foreign corporation, other than those arising out of the offering or sale of the Notes in any jurisdiction where it is not now so subject. The Company will advise the Representatives promptly of the suspension of the qualification or registration
of (or any such exemption relating to) the Notes for offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification,
registration or exemption, the Company shall use its best efforts to obtain the withdrawal thereof at the earliest possible moment. 
 (e)
Rule 144A Information. For so long as any of the Notes are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company shall provide to any holder of the Notes or to any prospective purchaser
of the Notes designated by any holder, upon request of such holder or prospective purchaser, information required to be provided by Rule 144A(d)(4) of the Securities Act if, at the time of such request, the Company is not subject to the reporting
requirements under Section 13 or 15(d) of the Exchange Act. 
  

 12 

 (f) Compliance with Securities Law. The Company will comply with all applicable securities and
other laws, rules and regulations, including, without limitation, the Sarbanes-Oxley Act, and use its best efforts to cause the Company’s directors and officers, in their capacities as such, to comply with such laws, rules and regulations,
including, without limitation, the provisions of the Sarbanes-Oxley Act. 
 (g) Legends. Each of the Notes will bear, to the extent
applicable, the legend contained in “Notice to Investors” in the Disclosure Package and the Final Offering Memorandum for the time period and upon the other terms stated therein. 
 (h) Written Information Concerning the Offering. Without the prior written consent of BAS, the Company will not give to any prospective purchaser
of the Notes or any other person not in its employ any written information concerning the offering of the Notes other than the Disclosure Package, the Final Offering Memorandum or any other offering materials prepared by or with the prior consent of
the Representative. 
 (i) No General Solicitation. The Company will not, and will cause its subsidiaries not to, solicit any offer to
buy or offer to sell the Notes by means of any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities Act) or in any manner involving a public offering within the meaning of
Section 4(2) of the Securities Act. 
 (j) No Integration. The Company will not, and will cause its subsidiaries not to, sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of any “security” (as defined in the Securities Act) in a transaction that could be integrated with the sale of the Notes in a manner that would require the
registration under the Securities Act of the Notes. 
 (k) Information to Publishers. Any information provided by the Company to
publishers of publicly available databases about the terms of the Notes and the Indenture shall include a statement that the Notes have not been registered under the Securities Act and are subject to restrictions under Rule 144A of the Act and
Regulation S. 
 (l) DTC. The Company will cooperate with the Representatives and use its best efforts to permit the Notes to be
eligible for clearance and settlement through The Depository Trust Company. 
 (m) Rule 144 Tolling. During the period of one
year after the last Closing Date, the Company will not, and will not permit any of its “affiliates” (as defined in Rule 144 under the Securities Act) to, resell any of the Notes that constitute “restricted securities” under
Rule 144 that have been reacquired by any of them. 
 (n) Use of Proceeds. The Company shall apply the net proceeds from the sale
of the Notes sold by it in the manner described under the caption “Use of Proceeds” in the Disclosure Package and the Final Offering Memorandum. 
 (o) Transfer Agent. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Common Stock. 
 (p) Available Conversion Shares. The Company will reserve and keep available at all times, free of pre-emptive rights, the full number of Conversion Shares. 
  

 13 

 (q) Agreement Not to Offer or Sell Additional
Securities. During the period commencing on the date hereof and ending on the 90th day following the date of the Final Offering Memorandum, the
Company will not, without the prior written consent of BAS (which consent may be withheld at the sole discretion of BAS), directly or indirectly, sell, offer, contract or grant any option to sell, pledge, transfer or establish an open “put
equivalent position” or liquidate or decrease a “call equivalent position” within the meaning of Rule 16a-1(h) under the Exchange Act, or otherwise dispose of or transfer (or enter into any transaction that is designed to, or might
reasonably be expected to, result in the disposition of), or announce the offering of, or file any registration statement under the Securities Act in respect of, any shares of Common Stock, options or warrants to acquire shares of the Common Stock
or securities exchangeable or exercisable for or convertible into shares of Common Stock (other than as contemplated by this Agreement with respect to the Notes). Notwithstanding the foregoing, during such period (i) the Company may grant stock
options, restricted stock, contingent stock or other equity awards pursuant to the Company’s 1996 Executive Incentive Compensation Plan and (ii) the Company may issue shares of Common Stock upon the exercise of an option, warrant or other
equity award, or the conversion of a security outstanding on the date hereof. The Company also agrees not to file any registration statement (other than filings on Form S-8) with respect to any shares of Common Stock or any securities convertible or
exchangeable for Common Stock for a period of 90 days after the Closing Date without the prior written consent of the Representatives. 
 (r)
Investment Limitation. The Company shall not invest or otherwise use the proceeds received by the Company from its sale of the Notes in such a manner as would require the Company or any of its subsidiaries to register as an investment company
under the Investment Company Act. 
 (s) No Manipulation of Price. The Company will not take, directly or indirectly, any action
designed to cause or result in, or that has constituted or might reasonably be expected to constitute, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any securities of the Company to facilitate the sale or
resale of the Notes. 
 (t) Final Term Sheet. The Company will prepare a final term sheet, containing solely a description of the
Notes and the offering thereof, in the form approved by you and attached as Schedule B hereto (the “Final Term Sheet”). 
 Section 4. Payment of Expenses 
 The Company agrees to pay all costs, fees and expenses incurred in connection with the
performance of its obligations hereunder and in connection with the transactions contemplated hereby, including without limitation (i) all expenses incident to the issuance and delivery of the Notes (including all printing and engraving costs),
(ii) all fees and expenses of the Trustee under the Indenture, (iii) all necessary issue, transfer and other stamp taxes in connection with the issuance and sale of the Notes to the Initial Purchasers, (iv) all fees and expenses of
the Company’s counsel, independent public or certified public accountants and other advisors, (v) all costs and expenses incurred in connection with the preparation, printing, shipping and distribution of the materials contained in the
Disclosure Package, including the Preliminary Offering Memorandum, and the Final Offering Memorandum, all amendments and supplements thereto and this Agreement, (vi) the expenses of the Company and the Initial Purchasers in connection with the
marketing and offering of the Notes, including all transportation and other expenses incurred in connection with presentations to prospective purchasers of the Notes, except that the Company and the Initial Purchasers will each pay 50% of the cost
of privately chartered airplanes used for such purposes, (vii) the fees and expenses associated with including the Conversion Shares on the New York Stock Exchange and (viii) all expenses and fees in connection with admitting the Notes for
trading in the PORTAL Market. Except as provided in this Section 4, Section 7, Section 10 and Section 11 hereof, the Initial Purchasers shall pay their own expenses, including the fees and disbursements of their counsel.

  

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 Section 5. Conditions of the Obligations of the Initial Purchasers 
 The obligations of the several Initial Purchasers to purchase and pay for the Notes as provided herein on the Closing Date and, with respect to the
Optional Notes, any Subsequent Closing Date, shall be subject to the accuracy of the representations and warranties on the part of the Company set forth in Section 1 hereof as of the date hereof and as of the Closing Date as though then made
and, with respect to the Optional Notes, as of any Subsequent Closing Date as though then made, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the timely performance by the Company of
its covenants and other obligations hereunder, and to each of the following additional conditions: 
 (a) Accountants’ Comfort
Letter. On the date hereof, the Representatives shall have received from Ernst & Young LLP, independent public accountants for the Company, a letter dated the date hereof addressed to the Initial Purchasers, in a form satisfactory to
the Initial Purchasers. 
 (b) No Material Adverse Change or Ratings Agency Change. For the period from and after the date of this
Agreement and prior to the Closing Date and, with respect to the Optional Notes, any Subsequent Closing Date: 
 (i) in the
judgment of BAS there shall not have occurred any Material Adverse Change; 
 (ii) there shall not have been any change or
decrease specified in the letter or letters referred to in paragraph (a) of this Section 5 which is, in the sole judgment of BAS, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of
the Notes as contemplated by the Disclosure Package and the Final Offering Memorandum; and 
 (iii) there shall not have
occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any securities of the
Company or any of its subsidiaries by any “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) under the Securities Act. 
 (c) i) Opinion of Counsel for the Company. On each of the Closing Date and any Subsequent Closing Date, the Representatives shall have received
the favorable opinion of (x) Harter, Secrest & Emery LLP, as counsel for the Company, and (y) Davis Polk & Wardwell, special counsel for the Company, dated as of such Closing Date or Subsequent Closing Date, the form of
which is attached as Exhibit A. 
 (i) Opinion of Company General Counsel. On each of the Closing Date and any Subsequent
Closing Date, the Representatives shall have received the favorable opinion of Timothy R. Parry, Esq., Senior Vice President and General Counsel of the Company, to the effect set forth in Exhibit B hereto. 
 (d) Opinion of Counsel for the Initial Purchasers. On the Closing Date and any Subsequent Closing Date, the Representatives shall have received
the favorable opinion of Cahill Gordon & Reindel LLP, counsel for the Initial Purchasers, dated as of such Closing Date or Subsequent Closing Date, in form and substance satisfactory to, and addressed to, the Representatives,
with respect to the issuance and sale of the Notes, the Disclosure Package, the Preliminary Offering Memorandum, the Final Offering Memorandum 

  

 15 

 
and other related matters as the Representatives may reasonably require, and the Company shall have furnished to such counsel such documents as they request
for the purpose of enabling them to pass upon such matters. 
 (e) Officers’ Certificate. On the Closing Date and any Subsequent
Closing Date, the Representatives shall have received a written certificate executed by the Chairman of the Board, Chief Executive Officer or President of the Company and the Chief Financial Officer or Chief Accounting Officer of the Company, dated
as of such Closing Date or Subsequent Closing Date, to the effect that the signers of such certificate have carefully examined the Disclosure Package, including the Preliminary Offering Memorandum, and the Final Offering Memorandum, any amendments
or supplements thereto and this Agreement, to the effect set forth in subsection (b)(iii) of this Section 5, and further to the effect that: 
 (i) for the period from and after the date of this Agreement and prior to such Closing Date or Subsequent Closing Date there has not occurred any Material Adverse Change; 
 (ii) the representations and warranties of the Company set forth in Section 1 of this Agreement are true and correct on and as of
such Closing Date or Subsequent Closing Date with the same force and effect as expressly made on and as of such Closing Date or such Subsequent Closing Date; and 
 (iii) the Company has complied with all the agreements hereunder and satisfied all the conditions on its part to be performed or satisfied
hereunder at or prior to such Closing Date or Subsequent Closing Date. 
 (f) Bring-down Comfort Letter. On the Closing Date and any
Subsequent Closing Date, the Representatives shall have received from Ernst & Young LLP, independent public accountants for the Company, a letter dated such date, in form and substance satisfactory to the Representatives, to the effect that
they reaffirm the statements made in the letter furnished by them pursuant to subsection (a) of this Section 5, except that the specified date referred to therein for the carrying out of procedures shall be no more than three business days
prior to such Closing Date or Subsequent Closing Date. 
 (g) PORTAL Designation. The Notes shall have been designated PORTAL-eligible
securities in accordance with the rules and regulations of NASDAQ. 
 (h) NYSE Listing. The Company shall have caused the Conversion
Shares to be approved for listing, subject to notice of issuance, on the New York Stock Exchange and satisfactory evidence of such actions have been provided to the Representatives. 
 (i) Additional Documents. On or before each of the Closing Date and any Subsequent Closing Date, the Representatives and counsel for the Initial
Purchasers shall have received such information, documents and opinions as they may reasonably require for the purposes of enabling them to pass upon the issuance and sale of the Notes as contemplated herein, or in order to evidence the accuracy of
any of the representations and warranties, or the satisfaction of any of the conditions or agreements, herein contained. 
 If any condition
specified in this Section 5 is not satisfied when and as required to be satisfied, this Agreement may be terminated by BAS by notice to the Company at any time on or prior to the Closing Date and, with respect to the Optional Notes, at any time
prior to the applicable Subsequent Closing Date, which termination shall be without liability on the part of any party to any other party, except that Section 4, Section 7, Section 8, Section 9 and Section 14 shall at all
times be effective and shall survive such termination. 
  

 16 

 Section 6. Representations, Warranties and Agreements of Initial Purchasers 
 Each of the Initial Purchasers represents and warrants that it is a “qualified institutional buyer”, as defined in Rule 144A of the Securities
Act. Each Initial Purchaser agrees with the Company that: 
 (a) it has not offered or sold, and will not offer or sell, any Notes within the
United States or to, or for the account or benefit of, U.S. persons (x) as part of their distribution at any time or (y) otherwise until one year after the later of the commencement of the offering and the date of closing of the offering
except to those it reasonably believes to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act); 
 (b) neither it nor any person acting on its behalf has made or will make offers or sales of the Notes in the United States by means of any form of general solicitation or general advertising (within the meaning of Regulation D) in the
United States; 
 (c) in connection with each sale pursuant to Section 6(a)(i), it has taken or will take reasonable steps to ensure
that the purchaser of such Notes is aware that such sale is being made in reliance on Rule 144A; 
 (d) any information provided by the
Initial Purchasers to publishers of publicly available databases about the terms of the Notes and the Indenture shall include a statement that the Notes have not been registered under the Act and are subject to restrictions under Rule 144A under the
Act; and 
 (e) it acknowledges that additional restrictions on the offer and sale of the Notes and the Common Stock issuable upon conversion
thereof are described in the Disclosure Package and the Final Offering Memorandum. 
 Section 7. Reimbursement of Initial
Purchasers’ Expenses 
 If this Agreement is terminated pursuant to Section 5, Section 10 or Section 11, or if the
sale to the Initial Purchasers of the Notes on the Closing Date or any Subsequent Closing Date is not consummated because of any refusal, inability or failure on the part of the Company to perform any agreement herein or to comply with any provision
hereof, the Company agrees to reimburse the Representatives and the other Initial Purchasers (or such Initial Purchasers as have terminated this Agreement with respect to themselves), severally, upon demand for all out-of-pocket expenses that shall
have been reasonably incurred by the Representatives and the Initial Purchasers in connection with the proposed purchase and the offering and sale of the Notes, including but not limited to fees and disbursements of counsel, printing expenses,
travel expenses, postage, facsimile and telephone charges. 
 Section 8. Indemnification 
 (a) Indemnification of the Initial Purchasers. The Company agrees to indemnify and hold harmless each Initial Purchaser, its directors, officers,
employees and agents, and each person, if any, who controls any Initial Purchaser within the meaning of the Securities Act or the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which such Initial Purchaser,
director, officer, employee, agent or controlling person may become subject, insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based upon any untrue statement or
alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, the Final Offering Memorandum, the information contained in the Final Term Sheet, any Issuer Written Information or any other written information used by
or on behalf of the Company in connection with the offer or sale of the Notes (or any amendment or supplement to the foregoing), or the omission or 

  

 17 

 
alleged omission therefrom of a material fact, in each case, necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading, and to reimburse each Initial Purchaser, its officers, directors, employees, agents and each such controlling person for any and all expenses (including the fees and disbursements of counsel chosen by BAS) as such
expenses are reasonably incurred by such Initial Purchaser, or its officers, directors, employees, agents or such controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage,
liability, expense or action; provided, however, that the foregoing indemnity agreement shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or
alleged untrue statement or omission or alleged omission based upon and in conformity with written information furnished to the Company by any Initial Purchaser through BAS expressly for use in the Preliminary Offering Memorandum, the Final Offering
Memorandum, the Final Term Sheet, any Issuer Written Information or any other written information used by or on behalf of the Company in connection with the offer or sale of the Notes (or any amendment or supplement thereto), it being understood and
agreed that the only such information furnished by any Initial Purchaser consists of the information described as such in Section 8(b) hereof. The indemnity agreement set forth in this Section 8(a) shall be in addition to any liabilities
that the Company may otherwise have. 
 (b) Indemnification of the Company, Its Directors and Officers. Each Initial Purchaser agrees,
severally and not jointly, to indemnify and hold harmless the Company, each of its directors, each of its officers, employees and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act, against any
loss, claim, damage, liability or expense, as incurred, to which the Company, or any such director, officer, employee or controlling person may become subject, insofar as such loss, claim, damage, liability or expense (or actions in respect thereof
as contemplated below) arises out of or is based upon any untrue or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, the Final Offering Memorandum, the information contained in the Final Term Sheet, any
Issuer Written Information or any other written information used by or on behalf of the Company in connection with the offer or sale of the Notes (or any amendment or supplement thereto), or arises out of or is 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, and only to the extent, that such untrue statement or alleged untrue statement or
omission or alleged omission was made in the Preliminary Offering Memorandum, the Final Offering Memorandum, the Final Term Sheet, any Issuer Written Information or any other written information used by or on behalf of the Company in connection with
the offer or sale of the Notes (or any amendment or supplement thereto), in reliance upon and in conformity with written information furnished to the Company by BAS expressly for use therein; and to reimburse the Company, or any such director,
officer or controlling person for any legal and other expense reasonably incurred by the Company, or any such director, officer, employee or controlling person in connection with investigating, defending, settling, compromising or paying any such
loss, claim, damage, liability, expense or action. The Company hereby acknowledges that the only information that the Initial Purchasers have furnished to the Company expressly for use in the Preliminary Offering Memorandum, the Final Offering
Memorandum, the Final Term Sheet, any Issuer Written Information or any other written information used by or on behalf of the Company in connection with the offer or sale of the Notes (or any amendment or supplement thereto) are the statements set
forth in the sixth paragraph and the second and third sentences of the ninth paragraph under the caption “Plan of Distribution” in the Preliminary Offering Memorandum and the Final Offering Memorandum. The indemnity agreement set forth in
this Section 8(b) shall be in addition to any liabilities that each Initial Purchaser may otherwise have. 
 (c) Notifications and
Other Indemnification Procedures. Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party under this Section 8, 

  

 18 

 
notify the indemnifying party in writing of the commencement thereof, but the failure to so notify the indemnifying party (i) will not relieve it from
liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will
not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. In case any such action is brought against any indemnified
party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it shall elect, jointly with all other indemnifying parties similarly
notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel satisfactory to such indemnified party; provided, however, if the
defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party
in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party, the indemnified party or parties
shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such
indemnified party of such indemnifying party’s election so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 8 for
any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the preceding sentence
(it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (other than local counsel), reasonably approved by the indemnifying party (or by BAS in the case of Section 8(b)),
representing the indemnified parties who are parties to such action) or (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice
of commencement of the action, in each of which cases the fees and expenses of counsel shall be at the expense of the indemnifying party. 
 (d) Settlements. The indemnifying party under this Section 8 shall not be liable for any settlement of any proceeding effected without its written consent, which shall not be withheld unreasonably, but if settled with such
consent or if there is a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by Section 8(c) hereof, the indemnifying party agrees that it shall be
liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying
party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or
consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless
such settlement, compromise or consent (x) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such action, suit or proceeding and (y) does not include a statement as to
or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
  

 19 

 Section 9. Contribution 
 If the indemnification provided for in Section 8 is for any reason unavailable to or otherwise insufficient to hold harmless an indemnified party in
respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party, as incurred, as a result of any losses, claims,
damages, liabilities or expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Initial Purchasers, on the other hand, from the offering of the
Notes pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above
but also the relative fault of the Company, on the one hand, and the Initial Purchasers, on the other hand, in connection with the untrue statements or omissions or alleged untrue statements or alleged omissions which resulted in such losses,
claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Initial Purchasers, on the other hand, in connection with the offering of the
Notes pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Notes pursuant to this Agreement (before deducting expenses) received by the Company, and the total purchase
discount received by the Initial Purchasers bear to the aggregate initial offering price of the Notes. The relative fault of the Company, on the one hand, and the Initial Purchasers, on the other hand, shall be determined by reference to, among
other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or the Initial Purchasers, on the other
hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 8(c), any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or defending any action or claim. 
 The Company and the Initial
Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Initial Purchasers 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 9. 
 Notwithstanding the provisions
of this Section 9, no Initial Purchaser shall be required to contribute any amount in excess of the purchase discount or commission received by such Initial Purchaser in connection with the Notes purchased by it hereunder. 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 Initial Purchasers’ obligations to
contribute pursuant to this Section 9 are several, and not joint, in proportion to their respective purchasing commitments as set forth opposite their names in Schedule A. For purposes of this Section 9, each director, officer,
employee and agent of an Initial Purchaser and each person, if any, who controls an Initial Purchaser within the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as such Initial Purchaser, and each
director of the Company, each officer of the Company, and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as the Company. 
  

 20 

 Section 10. Default of One or More of the Several Initial Purchasers 
 If, on the Closing Date or a Subsequent Closing Date, as the case may be, any one or more of the several Initial Purchasers shall fail or refuse to
purchase Notes that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Notes which such defaulting Initial Purchaser or Initial Purchasers agreed but failed or refused to purchase does not exceed 10% of
the aggregate principal amount of the Notes to be purchased on such date, the other Initial Purchasers shall be obligated, severally, in the proportions that the aggregate principal amount of Firm Notes set forth opposite their respective names on
Schedule A bears to the aggregate principal amount of Firm Notes set forth opposite the names of all such non-defaulting Initial Purchasers, or in such other proportions as may be specified by BAS with the consent of the non-defaulting
Initial Purchasers, to purchase the Notes which such defaulting Initial Purchaser or Initial Purchasers agreed but failed or refused to purchase on such date. If, on the Closing Date or a Subsequent Closing Date, as the case may be, any one or more
of the Initial Purchasers shall fail or refuse to purchase Notes and the aggregate principal amount of Notes with respect to which such default occurs exceeds 10% of the aggregate principal amount of Notes to be purchased on such date, and
arrangements satisfactory to BAS and the Company for the purchase of such Notes are not made within 48 hours after such default, this Agreement shall terminate without liability of any party to any other party except that the provisions of
Section 4, Section 7, Section 8 and Section 9 shall at all times be effective and shall survive such termination. In any such case either BAS or the Company shall have the right to postpone the Closing Date or a Subsequent
Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Final Offering Memorandum or any other documents or arrangements may be effected. 
 As used in this Agreement, the term “Initial Purchaser” shall be deemed to include any person substituted for a defaulting Initial Purchaser
under this Section 10. Any action taken under this Section 10 shall not relieve any defaulting Initial Purchaser from liability in respect of any default of such Initial Purchaser under this Agreement. 
 Section 11. Termination of this Agreement 
 Prior to the Closing Date and, with respect to the Optional Notes, any Subsequent Closing Date, this Agreement may be terminated by BAS by notice given to the Company if at any time (i) trading or quotation in
any of the Company’s securities shall have been suspended or limited by the Commission or by the New York Stock Exchange, or trading in securities generally on the New York Stock Exchange shall have been suspended or limited, or minimum or
maximum prices shall have been generally established by the Commission or FINRA or on either such stock exchange; (ii) a general banking moratorium shall have been declared by federal or New York authorities or a material disruption in
commercial banking or securities settlement or clearance services in the United States has occurred; or (iii) there shall have occurred any outbreak or escalation of national or international hostilities or declaration of a national emergency
or war by the United States or any crisis or calamity, or any change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in United States or international
political, financial or economic conditions, as in the judgment of BAS is material and adverse and makes it impracticable or inadvisable to market the Notes in the manner and on the terms described in the Disclosure Package and the Final Offering
Memorandum or to enforce contracts for the sale of securities. Any termination pursuant to this Section 11 shall be without liability on the part of (a) the Company to any Initial Purchaser, except that the Company shall be obligated to
reimburse the expenses of the Representatives and the Initial Purchasers pursuant to Sections 4 and 7 hereof or (b) any Initial Purchaser to the Company. 
  

 21 

 Section 12. No Advisory or Fiduciary Responsibility 
 The Company acknowledges and agrees that: (i) the purchase and sale of the Notes pursuant to this Agreement, including the determination of the
offering price of the Notes and any related discounts and commissions, is an arm’s-length commercial transaction between the Company, on the one hand, and the several Initial Purchasers, on the other hand, and the Company is capable of
evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (ii) in connection with each transaction contemplated hereby and the process leading to such
transaction each Initial Purchaser is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary of the Company or its affiliates, stockholders, creditors or employees or any other party; (iii) no Initial
Purchaser has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the Company with respect to any of the transactions contemplated hereby or the process leading thereto (irrespective of whether such Initial Purchaser
has advised or is currently advising the Company on other matters) and no Initial Purchaser has any obligation to the Company with respect to the offering contemplated hereby except the obligations expressly set forth in this Agreement;
(iv) the several Initial Purchasers and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company and that the several Initial Purchasers have no obligation to
disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Initial Purchasers have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and
the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate. 
 The Company hereby
waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the several Initial Purchasers with respect to any breach or alleged breach of agency or fiduciary duty. 
 Section 13. Research Analyst Independence 
 The Company acknowledges that the Initial Purchasers’ research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain
regulations and internal policies, and that such Initial Purchasers’ research analysts may hold views and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the offering that differ
from the views of their respective investment banking divisions. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the Initial Purchasers with respect to any conflict of
interest that may arise from the fact that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or advice communicated to the Company by such Initial
Purchasers’ investment banking divisions. The Company acknowledges that each of the Initial Purchasers is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own
account or the account of its customers and hold long or short positions in debt or equity securities of the companies that may be the subject of the transactions contemplated by this Agreement. 
 Section 14. Representations and Indemnities to Survive Delivery 
 The respective indemnities, agreements, representations, warranties and other statements of the Company, of its officers and of the several Initial Purchasers set forth in or made pursuant to this Agreement
(i) will remain operative and in full force and effect, regardless of any (A) investigation, or statement as to the results thereof, made by or on behalf of any Initial Purchaser, the officers or employees of any Initial Purchaser, or any
person controlling the Initial Purchaser, the Company, the officers or employees of the Company or any person controlling the Company, as the case may be or (B) acceptance of the Notes and payment for them hereunder and (ii) will survive
delivery of and payment for the Notes sold hereunder and any termination of this Agreement. 
  

 22 

 Section 15. Notices 
 All communications hereunder shall be in writing and shall be mailed, hand delivered or telecopied and confirmed to the parties hereto as follows:

  

			
	If to BAS or to the Representatives:
		
		  	Banc of America Securities LLC
		  	9 West 57th Street
		  	New York, NY 10019
		  	 Facsimile: (212) 933-2217
 Attention: Syndicate
Department

	
	with a copy to:
		
		  	Banc of America Securities LLC
		  	1 Bryant Park
		  	New York, NY 10036-6715
		  	Facsimile: (646) 855-5016
		  	Attention: ECM - Legal
	
	If to the Company:
		
		  	Health Management Associates, Inc.
		  	5811 Pelican Bay Boulevard
		  	Suite 500
		  	Naples, FL 34108-2710
		  	Facsimile: (239) 597-5794
		  	Attention: Burke W. Whitman, President and Chief Executive Officer
	
	With a copy to:
		
		  	Health Management Associates, Inc.
		  	5811 Pelican Bay Boulevard
		  	Suite 500
		  	Naples, FL 34108-2710
		  	Facsimile: (239) 594-7368
		  	Attention: Timothy R. Parry, Senior Vice President and General Counsel

 Any party hereto may change the address for receipt of communications by giving written notice to the others.

 Section 16. Successors and Assigns 
 This Agreement will inure to the benefit of and be binding upon the parties hereto, including any substitute Initial Purchasers pursuant to Section 10 hereof, and to the benefit of (i) the Company, its
directors and any person who controls the Company within the meaning of the Securities Act or the Exchange Act, (ii) the Initial Purchasers, the officers, directors, employees and agents of the Initial Purchasers and each person, if any, who
controls any Initial Purchaser within the meaning of the Securities Act or the Exchange Act and (iii) the respective successors and assigns of any of the above, all as and to the extent provided in this Agreement, and no other person shall
acquire or have any right under or by virtue of this Agreement. The term “successors and assigns” shall not include a purchaser of any of the Notes from any of the several Initial Purchasers merely because of such purchase. 
  

 23 

 Section 17. Partial Unenforceability 
 The invalidity or unenforceability of any Section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other
Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are
necessary to make it valid and enforceable. 
 Section 18. Governing Law Provisions 
 (a) Governing Law Provisions. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK. 
 (b) Consent to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Agreement or the
transactions contemplated hereby (“Related Proceedings”) may be instituted in the federal courts of the United States of America located in the City and County of New York, Borough of Manhattan or the courts of the State of New York in
each case located in the City and County of New York, Borough of Manhattan (collectively, the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the
enforcement of a judgment of any such court (a “Related Judgment”), as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to such
party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action
or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient
forum. 
 Section 19. General Provisions 
 This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the
subject matter hereof. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement may not be amended
or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The Section headings herein are for the convenience
of the parties only and shall not affect the construction or interpretation of this Agreement. 
 Each of the parties hereto acknowledges
that it is a sophisticated business person who was adequately represented by counsel during negotiations regarding the provisions hereof, including, without limitation, the indemnification provisions of Section 8 and the contribution provisions
of Section 9, and is fully informed regarding said provisions. Each of the parties hereto further acknowledges that the provisions of Sections 8 and 9 hereto fairly allocate the risks in light of the ability of the parties to
investigate the Company, its affairs and its business in order to assure that adequate disclosure has been made in the Registration Statement, any preliminary prospectus and the Prospectus (and any amendments and supplements thereto), as required by
the Securities Act and the Exchange Act. 
  

 24 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the Company the
enclosed copies hereof, whereupon this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms. 
  

			
	Very truly yours,
	
	HEALTH MANAGEMENT ASSOCIATES, INC.
		
	By:	 	 /s/ Timothy R. Parry

	Title:	 	Senior Vice President

 The foregoing Purchase Agreement is hereby confirmed and accepted by the Representatives as
of the date first above written. 
  

			
	 BANC OF AMERICA SECURITIES LLC
 J.P. MORGAN SECURITIES INC.
 WACHOVIA CAPITAL MARKETS, LLC
 SUNTRUST ROBINSON HUMPHREY, INC.

	
	 Acting as Representatives of the
 several
Initial Purchasers named in
 the attached Schedule A.

	
	By Banc of America Securities LLC
		
	By:	 	 /s/ Craig McCracken

	Title:	 	Managing Director

  

 25 

 Below is an index of schedules and exhibits to the Purchase Agreement. A copy of any such schedule or exhibit shall be
furnished supplementally by Health Management Associates, Inc. to the Securities and Exchange Commission upon request. 
 INDEX OF
SCHEDULES AND EXHIBITS 
  

			
	Schedule A	 	Initial Purchasers
		
	Schedule B	 	Final Term Sheet
		
	Schedule C	 	Subsidiaries
		
	Exhibit A-1	 	Form of Opinion of Harter Secrest & Emery LLP
		
	Exhibit A-2	 	Form of Opinion of Davis Polk & Wardwell
		
	Exhibit B	 	Form of Opinion of Timothy R. Parry, Esq., Senior Vice President and General Counsel of the Company

  

 26

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