Document:

Form of Indenture

 Exhibit 4.10 
  

  
 GSI COMMERCE, INC.

  
 to 
  
 JPMorgan Chase Bank, NA, 
 as Trustee 
  

  
 Form of  
 INDENTURE 
  
 Dated as of 
  
 [    ], 2005

  

  
 [    ]% Convertible Notes due 2025 
  

  
  

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	PAGE

	ARTICLE 1
	DEFINITIONS
			
	 Section 1.01.
	  	 Definitions
	  	1
	
	ARTICLE 2
	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE
OF NOTES
			
	 Section 2.01.
	  	 Designation Amount And Issue of Notes
	  	9
	 Section 2.02.
	  	 Form of Notes
	  	9
	 Section 2.03.
	  	 Date And Denomination of Notes; Payments of Interest
	  	10
	 Section 2.04.
	  	 Execution of Notes
	  	12
	 Section 2.05.
	  	 Exchange and Registration of Transfer of Notes
	  	12
	 Section 2.06.
	  	 Mutilated, Destroyed, Lost or Stolen Notes
	  	16
	 Section 2.07.
	  	 Temporary Notes
	  	17
	 Section 2.08.
	  	 Cancellation of Notes
	  	18
	 Section 2.09.
	  	 CUSIP Numbers
	  	18
	 Section 2.10.
	  	 Issuance of Additional Notes
	  	18
	
	ARTICLE 3
	REDEMPTION AND REPURCHASE OF NOTES
			
	 Section 3.01.
	  	 Redemption of Notes
	  	19
	 Section 3.02.
	  	 Notice of Optional Redemption; Selection of Notes
	  	19
	 Section 3.03.
	  	 Payment of Notes Called For Redemption by the Company
	  	21
	 Section 3.04.
	  	 Conversion Arrangement on Call for Redemption
	  	22
	 Section 3.05.
	  	 Repurchase at Option of Holders Upon a Designated Event
	  	23
	 Section 3.06.
	  	 Repurchase of Notes by the Company at Option of the Holder
	  	27
	 Section 3.07.
	  	 Company Repurchase Notice
	  	28
	 Section 3.08.
	  	 Effect of Repurchase Notice
	  	29
	 Section 3.09.
	  	 Deposit of Repurchase Price
	  	30
	 Section 3.10.
	  	 Notes Repurchased in Part
	  	30
	 Section 3.11.
	  	 Repayment to the Company
	  	30

  

					
	ARTICLE 4
	[INTENTIONALLY OMITTED]
	
	ARTICLE 5
	PARTICULAR COVENANTS OF THE COMPANY
			
	 Section 5.01.
	  	 Payment of Principal and Interest
	  	31
	 Section 5.02.
	  	 Maintenance of Office or Agency
	  	31
	 Section 5.03.
	  	 Appointments to Fill Vacancies in Trustee’s Office
	  	32
	 Section 5.04.
	  	 Provisions as to Paying Agent
	  	32
	 Section 5.05.
	  	 Existence
	  	33
	 Section 5.06.
	  	 Maintenance of Properties
	  	33
	 Section 5.07.
	  	 Payment of Taxes and Other Claims
	  	33
	 Section 5.08.
	  	 Stay, Extension and Usury Laws
	  	34
	 Section 5.09.
	  	 Compliance Certificate
	  	34
	
	ARTICLE 6
	NOTEHOLDERS’ LISTS AND REPORTS BY THE COMPANY
AND THE TRUSTEE
			
	 Section 6.01.
	  	 Noteholders’ Lists
	  	35
	 Section 6.02.
	  	 Preservation And Disclosure of Lists
	  	35
	 Section 6.03.
	  	 Reports by Trustee
	  	35
	 Section 6.04.
	  	 Reports by Company
	  	36
	
	ARTICLE 7
	REMEDIES OF THE TRUSTEE AND NOTEHOLDERS ON
AN EVENT OF DEFAULT
			
	 Section 7.01.
	  	 Events of Default
	  	36
	 Section 7.02.
	  	 Payments of Notes on Default; Suit Therefor
	  	38
	 Section 7.03.
	  	 Application of Monies Collected by Trustee
	  	40
	 Section 7.04.
	  	 Proceedings by Noteholder
	  	41
	 Section 7.05.
	  	 Proceedings by Trustee
	  	42
	 Section 7.06.
	  	 Remedies Cumulative and Continuing
	  	42
	 Section 7.07.
	  	 Direction of Proceedings and Waiver of Defaults by Majority of Noteholders
	  	42
	 Section 7.08.
	  	 Notice of Defaults
	  	43
	 Section 7.09.
	  	 Undertaking To Pay Costs
	  	43
	
	ARTICLE 8
	THE TRUSTEE
			
	 Section 8.01.
	  	 Duties and Responsibilities of Trustee
	  	44
	 Section 8.02.
	  	 Reliance on Documents, Opinions, Etc.
	  	45
	 Section 8.03.
	  	 No Responsibility For Recitals, Etc.
	  	46
	 Section 8.04.
	  	 Trustee, Paying Agents, Conversion Agents or Registrar May Own Notes
	  	47
	 Section 8.05.
	  	 Monies to Be Held in Trust
	  	47

  

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	 Section 8.06.
	  	 Compensation and Expenses of Trustee
	  	47
	 Section 8.07.
	  	 Officers’ Certificate As Evidence
	  	48
	 Section 8.08.
	  	 Conflicting Interests of Trustee
	  	48
	 Section 8.09.
	  	 Eligibility of Trustee
	  	48
	 Section 8.10.
	  	 Resignation or Removal of Trustee
	  	48
	 Section 8.11.
	  	 Acceptance by Successor Trustee
	  	50
	 Section 8.12.
	  	 Succession by Merger
	  	50
	 Section 8.13.
	  	 Preferential Collection of Claims
	  	51
	 Section 8.14.
	  	 Trustee’s Application for Instructions from the Company
	  	51
	
	ARTICLE 9
	THE NOTEHOLDERS
			
	 Section 9.01.
	  	 Action by Noteholders
	  	52
	 Section 9.02.
	  	 Proof of Execution by Noteholders
	  	52
	 Section 9.03.
	  	 Who Are Deemed Absolute Owners
	  	52
	 Section 9.04.
	  	 Company-owned Notes Disregarded
	  	52
	 Section 9.05.
	  	 Revocation of Consents, Future Holders Bound
	  	53
	
	ARTICLE 10
	MEETINGS OF NOTEHOLDERS
			
	 Section 10.01.
	  	 Purpose of Meetings
	  	53
	 Section 10.02.
	  	 Call of Meetings by Trustee
	  	54
	 Section 10.03.
	  	 Call of Meetings by Company or Noteholders
	  	54
	 Section 10.04.
	  	 Qualifications for Voting
	  	54
	 Section 10.05.
	  	 Regulations
	  	55
	 Section 10.06.
	  	 Voting
	  	55
	 Section 10.07.
	  	 No Delay of Rights by Meeting
	  	56
	
	ARTICLE 11
	SUPPLEMENTAL INDENTURES
			
	 Section 11.01.
	  	 Supplemental Indentures Without Consent of Noteholders
	  	56
	 Section 11.02.
	  	 Supplemental Indenture with Consent of Noteholders
	  	57
	 Section 11.03.
	  	 Effect of Supplemental Indenture
	  	59
	 Section 11.04.
	  	 Notation on Notes
	  	59
	 Section 11.05.
	  	 Evidence of Compliance of Supplemental Indenture To Be Furnished To Trustee
	  	60
	
	ARTICLE 12
	CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE
			
	 Section 12.01.
	  	 Company May Consolidate On Certain Terms
	  	60
	 Section 12.02.
	  	 Successor To Be Substituted
	  	60
	 Section 12.03.
	  	 Opinion of Counsel To Be Given to Trustee
	  	61

  

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	ARTICLE 13
	SATISFACTION AND DISCHARGE OF INDENTURE
			
	 Section 13.01.
	  	 Discharge of Indenture
	  	61
	 Section 13.02.
	  	 Deposited Monies To Be Held in Trust by Trustee
	  	62
	 Section 13.03.
	  	 Paying Agent To Repay Monies Held
	  	62
	 Section 13.04.
	  	 Return of Unclaimed Monies
	  	62
	 Section 13.05.
	  	 Reinstatement
	  	62
	
	ARTICLE 14
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS
			
	 Section 14.01.
	  	 Indenture and Notes Solely Corporate Obligations
	  	63
	
	ARTICLE 15
	CONVERSION OF NOTES
			
	 Section 15.01.
	  	 Right To Convert
	  	63
	 Section 15.02.
	  	 Exercise of Conversion Privilege; Issuance of Common Stock on Conversion; No Adjustment for Interest or Dividends
	  	66
	 Section 15.03.
	  	 Settlement upon Conversion
	  	68
	 Section 15.04.
	  	 Irrevocable Election by Company of Net Share Settlement Upon Conversion
	  	71
	 Section 15.05.
	  	 Cash Payments in Lieu of Fractional Shares
	  	71
	 Section 15.06.
	  	 Conversion Rate
	  	72
	 Section 15.07.
	  	 Adjustment of Conversion Rate
	  	72
	 Section 15.08.
	  	 Make Whole Payment upon the Occurrence of a Fundamental Change
	  	82
	 Section 15.09.
	  	 Public Acquirer Change of Control
	  	83
	 Section 15.10.
	  	 Effect of Reclassification, Consolidation, Merger or Sale
	  	85
	 Section 15.11.
	  	 Taxes on Shares Issued
	  	88
	 Section 15.12.
	  	 Reservation of Shares, Shares to Be Fully Paid; Compliance With Governmental Requirements; Listing of Common Stock
	  	88
	 Section 15.13.
	  	 Responsibility of Trustee
	  	89
	 Section 15.14.
	  	 Notice To Holders Prior To Certain Actions
	  	90
	 Section 15.15.
	  	 Shareholder Rights Plans
	  	90
	
	ARTICLE 16
	MISCELLANEOUS PROVISIONS
			
	 Section 16.01.
	  	 Provisions Binding on Company’s Successors
	  	91
	 Section 16.02.
	  	 Official Acts by Successor Corporation
	  	91
	 Section 16.03.
	  	 Addresses for Notices, Etc.
	  	91
	 Section 16.04.
	  	 Governing Law
	  	92

  

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	 Section 16.05.
	  	 Evidence of Compliance with Conditions Precedent, Certificates to Trustee
	  	92
	 Section 16.06.
	  	 Legal Holidays
	  	92
	 Section 16.07.
	  	 Trust Indenture Act
	  	92
	 Section 16.08.
	  	 No Security Interest Created
	  	93
	 Section 16.09.
	  	 Benefits of Indenture
	  	93
	 Section 16.10.
	  	 Table of Contents, Headings, Etc.
	  	93
	 Section 16.11.
	  	 Authenticating Agent
	  	93
	 Section 16.12.
	  	 Execution in Counterparts
	  	94
	 Section 16.13.
	  	 Severability
	  	94
		
	 Exhibit A Form of Note
	  	A-1

  

 v 

  
 INDENTURE 

 
 INDENTURE dated as of
[            ], 2005, between GSI Commerce, Inc., a Delaware corporation (hereinafter called the “Company”), having its principal office at 935 First Avenue, King of
Prussia, Pennsylvania 19406 and JPMorgan Chase Bank, NA, a New York banking corporation, as trustee hereunder (hereinafter called the “Trustee”). 
  
 WITNESSETH: 
  
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issue of its [        ]%
Convertible Notes due 2025 (hereinafter called the “Notes”), in an unlimited aggregate principal amount and, to provide the terms and conditions upon which the Notes are to be authenticated, issued and delivered, the Company has
duly authorized the execution and delivery of this Indenture; and 
  
 WHEREAS, the Notes, the certificate of authentication to be borne by the Notes, a form of assignment, a form of Designated Event repurchase notice, a form of repurchase notice and a form of conversion notice to be borne by the Notes are to
be substantially in the forms hereinafter provided for; and 
  
 WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee or a duly authorized authenticating agent, as in this Indenture provided, the valid, binding and legal
obligations of the Company, and to constitute this Indenture a valid agreement according to its terms, have been done and performed, and the execution of this Indenture and the issue hereunder of the Notes have in all respects been duly authorized,

  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
  
 That in order to declare the terms and conditions upon which the Notes are,
and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase and acceptance of the Notes by the holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate
benefit of the respective holders from time to time of the Notes (except as otherwise provided below), as follows: 
  
 ARTICLE 1 
 DEFINITIONS 
  
 Section 1.01. Definitions. The terms defined in this Section 1.01
(except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall 

  

 
have the respective meanings specified in this Section 1.01. All other terms used in this Indenture that are defined in the Trust Indenture Act or which are
by reference therein defined in the Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires) shall have the meanings assigned to such terms in the Trust Indenture Act and in the Securities Act as in
force at the date of the execution of this Indenture. The words “herein”, “hereof”, “hereunder” and words of similar import refer to this Indenture as a whole and not to any particular Article,
Section or other Subdivision. The terms defined in this Article include the plural as well as the singular. 
  
 “Acquisition Value” has the meaning specified in Section 15.09(d). 
  
 “Additional Shares” has the meaning specified in Section 15.08(a) 
  
 “Adjustment Event” has the meaning specified in Section
15.07(l). 
  
 “Agent Members” has the meaning
specified in Section 2.05(b). 
  
 “Affiliate” of
any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control”, when used with
respect to any specified Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Board of Directors” means the Board of Directors of the Company or a committee of such Board duly authorized to act for it hereunder.

  
 “Business Day” means any day except a
Saturday, Sunday or legal holiday on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 
  
 “Cash Settlement Averaging Period” has the meaning specified in Section 15.03(d). 
  
 “Closing Sale Price” of the shares of Common Stock, or any
other security for which a closing sale price is to be determined, on any date means the closing sale price per share (or, if no closing sale price is reported, the average of the closing bid and ask prices or, if more than one in either case, the
average of the average closing bid and the average closing ask prices) on such date as reported in composite transactions for the principal United States securities exchange on which shares of Common Stock or such other security are traded or, if
the shares of Common Stock or such other security are not listed on a United States national or regional securities exchange, as reported by the Nasdaq Stock Market or by the National Quotation Bureau Incorporated. If the Common Stock or such other
security is not listed for trading on a United States national or 

  

 2 

 
regional securities exchange and not reported by the Nasdaq Stock Market or by the National Quotation Bureau Incorporated on the relevant date, the Closing
Sale Price will be the last quoted bid price for the Common Stock or such other security in the over-the-counter market on the relevant date as reported by Pink Sheets LLC or any similar organization. If the Common Stock or such other security is
not so quoted, the Closing Sale Price will be the average of the mid-point of the last bid and asked prices of the Common Stock or such other security on the relevant date from each of at least three nationally recognized independent investment
banking firms selected by the Company for this purpose. 
  
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
  
 “Common Stock” means any stock of any class of the Company which has 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 is not subject to redemption by the Company. Subject to the provisions of Section 15.10, however, shares issuable on conversion of Notes shall
include only shares of the class designated as common stock of the Company at the date of this Indenture (namely, the Common Stock, par value $0.01) or shares of any class or classes 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
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 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. 
  
 “Company” means the corporation named as the “Company” in the first paragraph of this Indenture, and, subject to the
provisions of Article 12 and Section 15.10, shall include its successors and assigns. 
  
 “Company Repurchase Notice” has the meaning specified in Section 3.07(b). 
  
 “Company Repurchase Notice Date” has the meaning specified in Section 3.07(b). 
  
 “Conversion Date” has the meaning specified in Section
15.02. 
  
 “Conversion Notice” has the meaning
specified in Section 15.02. 
  
 “Conversion
Obligation” has the meaning specified in Section 15.03(a) 
  

 3 

 “Conversion Price” as of any day will equal $1,000 divided by the Conversion Rate as of
such date. 
  
 “Conversion Rate” has the meaning
specified in Section 15.06. 
  
 “Conversion Retraction
Period” has the meaning specified in Section 15.03(b). 
  
 “Conversion Value” has the meaning specified in Section 15.03(b) 
  
 “Corporate Trust Office” or other similar term, means the designated office of the Trustee at which at any particular time its corporate trust business as it relates to this Indenture shall be
administered, which office is, at the date as of which this Indenture is dated, located at [            ], New York, New York
[            ]. 
  
 “Current Market Price” has the meaning specified in Section 15.07(h). 
  
 “Custodian” means JPMorgan Chase Bank, NA, as custodian with respect to the Notes in global form, or any successor entity thereto.

  
 “Daily Conversion Value Amount” has the
meaning specified in Section 15.03(d). 
  
 “Daily Share
Amount” has the meaning specified in Section 15.03(d). 
  
 “Default” means any event that is, or after notice or passage of time, or both, would be, an Event of Default. 
  
 “Defaulted Interest” has the meaning specified in Section 2.03. 
  
 “Depositary” means, the clearing agency registered under the Exchange Act that is designated to act as the
Depositary for the Global Notes. The Depository Trust Company shall be the initial Depositary, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter,
“Depositary” shall mean or include such successor. 
  
 “Designated Event” shall mean any Fundamental Change or a Termination of Trading. 
  
 “Designated Event Expiration Time” has the meaning specified in Section 3.05(b). 
  
 “Designated Event Notice” has the meaning specified in
Section 3.05(b). 
  
 “Designated Event Repurchase
Date” has the meaning specified in Section 3.05(a). 
  
 “Designated Event Repurchase Notice” has the meaning specified in Section 3.05(a). 
  

 4 

 “Determination Date” has the meaning specified in Section 15.07(l). 
  
 “Effective Date” has the meaning specified in Section
15.08(a). 
  
 “Event of Default” means any event
specified in Section 7.01 as an Event of Default. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time. 
  
 “Exchange Property” has the meaning specified in Section 15.10(b). 
  
 “Exchange Property Value” has the meaning specified in
Section 15.10(d). 
  
 “Ex-Dividend Time” has the
meaning specified in Section 15.07(b). 
  
 “Expiration
Time” has the meaning specified in Section 15.07(f). 
  
 “Fair Market Value” has the meaning specified in Section 15.07(h). 
  
 “Fundamental Change” means the occurrence of any transaction or event (whether by means of an exchange offer, liquidation, tender offer, consolidation, merger, combination, reclassification,
recapitalization or otherwise) in connection with which 50% or more of the Common Stock shall be exchanged for, converted into, acquired for or constitutes solely the right to receive, consideration which is not at least 90% common stock that is
(or, upon consummation of or immediately following such transaction or event, which will be) listed on a United States national securities exchange or approved (or, upon consummation of or immediately following such transaction or event, which will
be approved) for quotation on the Nasdaq Stock Market or any similar United States system of automated dissemination of quotations of securities prices. 
  
 “Global Note” has the meaning specified in Section 2.02. 
  
 “Indenture” means this instrument as originally executed or, if amended or supplemented as herein provided,
as so amended or supplemented. 
  
 “Interest”
means, when used with reference to the Notes, any interest payable under the terms of the Notes. 
  
 “Issue Date” means [            ], 2005. 
  
 “Measurement Period” has the meaning specified in Section
15.01. 
  
 “Net Share Settlement” has the meaning
specified in Section 15.04(a). 
  
 “Non-electing
share” has the meaning specified in Section 15.10. 
  

 5 

 “Note” or “Notes” means any Note or Notes, as the case may be,
authenticated and delivered under this Indenture, including any Global Note. 
  
 “Noteholder” or “holder” as applied to any Note, or other similar terms (but excluding the term “Beneficial Holder”), means any Person in whose name at the time a
particular Note is registered on the Note Registrar’s books. 
  
 “Note Register” has the meaning specified in Section 2.05. 
  
 “Note Registrar” has the meaning specified in Section 2.05 
  
 “Notice Date” means the date of mailing of the notice of redemption pursuant to Section 3.02. 
  
 “Offer Expiration Time” has the meaning specified in Section
15.07(g). 
  
 “Offeror Purchased Shares” has the
meaning specified in Section 15.07(g) 
  
 “Officers’
Certificate”, when used with respect to the Company, means a certificate signed by the Chairman of the Board, the Chief Executive Officer, the President or any Vice President (whether or not designated by a number or numbers or word or
words added before or after the title “Vice President”) and the Treasurer or any Assistant Treasurer, or the Secretary or Assistant Secretary of the Company. 
  
 “Opinion of Counsel” means an opinion in writing signed by legal counsel, who may be an employee of or
counsel to the Company. 
  
 “Outstanding”, when
used with reference to Notes and subject to the provisions of Section 9.04, means, as of any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except: 
  
 (a) Notes theretofore canceled by the Trustee or delivered to the Trustee for
cancellation; 
  
 (b) Notes, or portions thereof, (i) for the
redemption of which monies in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or (ii) which shall have been otherwise discharged in accordance with Article 13; 
  
 (c) Notes in lieu of which, or in substitution for which, other Notes shall
have been authenticated and delivered pursuant to the terms of Section 2.06; and 
  
 (d) Notes converted into Common Stock pursuant to Article 15 and Notes deemed not outstanding pursuant to Article 3. 
  

 6 

 “Person” means a corporation, an association, a partnership, a limited liability
company, an individual, a joint venture, a joint stock company, a trust, an unincorporated organization or a government or an agency or a political subdivision thereof. 
  
 “Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same
debt as that evidenced by such particular Note, and, for the purposes of this definition, any Note authenticated and delivered under Section 2.06 in exchange for a mutilated Note or in lieu of a lost, destroyed or stolen Note shall be deemed to
evidence the same debt as the mutilated lost, destroyed or stolen Note that it replaces. 
  
 “Public Acquirer Change of Control” has the meaning specified in Section 15.09(d). 
  
 “Public Acquirer Common Stock” has the meaning specified in Section 15.09(d). 
  
 “Public Acquisition Notice” has the meaning specified in
Section 15.09(c). 
  
 “Purchased Shares” has the
meaning specified in Section 15.07(f). 
  
 “Record
Date” has the meaning specified in Section 15.07(h). 
  
 “Repurchase Date” has the meaning specified in Section 3.06. 
  
 “Repurchase Notice” has the meaning specified in Section 3.06. 
  
 “Responsible Officer” shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee
with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such person’s knowledge of any familiarity
with the particular subject. 
  
 “Retraction
Date” has the meaning specified in Section 15.03. 
  
 “Securities” has the meaning specified in Section 15.07(d). 
  
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time. 
  
 “Settlement Method Election Notice” has the meaning
specified in Section 15.03(b). 
  
 “Settlement Method
Notice Period” has the meaning specified in Section 15.03(b). 
  

 7 

 “Significant Subsidiary” means, as of any date of determination, a Subsidiary of the
Company that would constitute a “significant subsidiary” as such term is defined under Rule 1-02(w) of Regulation S-X of the Commission as in effect on the date of this Indenture. 
  
 “Specified Dollar Amount” has the meaning specified in
Section 15.03(b). 
  
 “Specified Percentage” has
the meaning specified in Section 15.03(b). 
  
 “Stock
Price” has the meaning specified in Section 15.08(a). 
  
 “Subsidiary” means, with respect to any Person, (i) any corporation, association or other business entity of which more than 50% of the total voting power of shares of capital stock or other equity interest entitled
(without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of that
Person (or a combination thereof) and (ii) any partnership (a) the sole general partner or managing general partner of which is such Person or a subsidiary of such Person or (b) the only general partners of which are such Person or of one or more
subsidiaries of such Person (or any combination thereof). 
  
 “Termination of Trading” will be deemed to have occurred if the Common Stock (or other common stock into which the Notes are then convertible) is neither listed for trading on a United States national securities exchange
nor approved for trading on the Nasdaq Stock Market. 
  
 “Trading Day” has the meaning specified in Section 15.07(h). 
  
 “Trading Price” means, on any date, the average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by the Trustee for $2,000,000 principal amount of Notes at
approximately 3:30 p.m., New York City time, on such date from three independent nationally recognized securities dealers selected by the Company; provided that if three such bids cannot reasonably be obtained by the Trustee, but two bids are
obtained, then the average of the two such bids shall be used, and if only one such bid can reasonably be obtained by the Trustee, that one bid shall be used; provided further that if the Trustee cannot reasonably obtain at least one bid for
$2,000,000 principal amount of Notes from a nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of Notes on such date shall be deemed to be less than 103% of the product of (a) the Conversion Rate and (b) the
Closing Sale Price on such date. 
  
 “Trigger
Event” has the meaning specified in Section 15.07(d). 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as it was in force at the date of this Indenture, except as provided in 

  

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Sections 11.03 and 15.10; provided that if the Trust Indenture Act of 1939 is amended after the date hereof, the term “Trust Indenture
Act” shall mean, to the extent required by such amendment, the Trust Indenture Act of 1939 as so amended. 
  
 “Trustee” means JPMorgan Chase Bank, NA and its successors and any corporation resulting from or surviving any consolidation or merger to
which it or its successors may be a party and any successor trustee at the time serving as successor trustee hereunder. 
  
 “Valuation Period” has the meaning specified in Section 15.09(a). 
  
 ARTICLE 2 
 ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 
  
 Section 2.01. Designation Amount And Issue of Notes. The Notes shall
be designated as “[        ]% Convertible Notes due 2025”. On the Issue Date, the Trustee shall authenticate and deliver $50,000,000 of Notes and, at any time and from time to time thereafter,
the Trustee shall authenticate and deliver Notes for original issue in an aggregate principal amount specified in such order, in each case upon the written order of the Company, signed by its Chairman of the Board, Chief Executive Officer, President
or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice President”), the Treasurer or any Assistant Treasurer or the Secretary or Assistant Secretary, without any
further action by the Company hereunder. Such order shall specify the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated. The aggregate principal amount of Notes that may be Outstanding
at any time is unlimited. 
  
 Section 2.02. Form of Notes.
The Notes and the Trustee’s certificate of authentication to be borne by such Notes shall be substantially in the form set forth in Exhibit A. The terms and provisions contained in the form of Note attached as Exhibit A hereto shall
constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby.

  
 Any of the Notes may have such letters, numbers or other marks
of identification and such notations, legends, endorsements or changes as the officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture,
or as may be required by the Custodian, the Depositary or as may be required to comply with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation
system on which the Notes may be listed, or to conform to usage, or to 

  

 9 

 
indicate any special limitations or restrictions to which any particular Notes are subject. 
  
 So long as the Notes are eligible for book-entry settlement with the Depositary, or unless otherwise required by law, or
otherwise contemplated by Section 2.05, all of the Notes will be represented by one or more Notes in global form registered in the name of the Depositary or the nominee of the Depositary (a “Global Note”). The transfer and exchange
of beneficial interests in any such Global Note shall be effected through the Depositary in accordance with this Indenture and the applicable procedures of the Depositary. Except as provided in Section 2.05, beneficial owners of a Global Note shall
not be entitled to have certificates registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered holders of such Global Note. 
  
 Any Global Note shall represent such of the outstanding Notes as shall be
specified therein and shall provide that it shall represent the aggregate amount of outstanding Notes from time to time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may from time to time be increased or
reduced to reflect redemptions, repurchases, conversions, transfers or exchanges permitted hereby. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall be
made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the holder of such Notes in accordance with this Indenture. Payment of principal of and Interest on any Global Note shall be made to
the holder of such Note. 
  
 Section 2.03. Date And
Denomination of Notes; Payments of Interest. The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and
shall bear Interest from the date specified on the face of the form of Note attached as Exhibit A hereto. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 
  
 The Person in whose name any Note (or its Predecessor Note) is registered on
the Note Register at the close of business on any record date with respect to any interest payment date shall be entitled to receive the Interest payable on such interest payment date, except that the Interest payable upon redemption or repurchase
will be payable to the Person to whom principal is payable pursuant to such redemption or repurchase (unless the redemption date or the repurchase date, as the case may be, falls after a record date and on or prior to the corresponding interest
payment date, in which case accrued and unpaid Interest to, but excluding, such redemption date or repurchase date shall be payable on such interest payment date to the holders of such Notes registered as such on the applicable record date).

  

 10 

 Notwithstanding the foregoing, if any Note (or portion thereof) is converted into Common Stock, cash or a
combination of cash and Common Stock during the period after a record date for the payment of Interest to, but excluding, the next succeeding interest payment date and such Note (or portion thereof) has been called or tendered for redemption on a
redemption date which occurs during such period, the Company shall not be required to pay interest on such interest payment date in respect of any such Note (or portion thereof). Interest shall be payable at the office of the Company maintained by
the Company for such purposes in the Borough of Manhattan, City of New York, which shall initially be an office or agency of the Trustee. The Company shall pay Interest (i) on any Notes in certificated form by check mailed to the address of the
Person entitled thereto as it appears in the Note Register (or upon written notice, by wire transfer in immediately available funds, if such Person is entitled to Interest on an aggregate principal amount of Notes in excess of $2.0 million) or (ii)
on any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee. The term “record date” with respect to any interest payment date shall mean the
[        ] or [        ] preceding the applicable [        ] or [        ] interest
payment date, respectively. 
  
 Any Interest on any Note which is
payable, but is not punctually paid or duly provided for, on any [        ] or [        ] (herein called “Defaulted Interest”) shall forthwith cease to
be payable to the Noteholder on the relevant record date by virtue of his having been such Noteholder, and such Defaulted Interest shall be paid by the Company, at 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 Notes (or their respective Predecessor Notes) 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 Note and the date of the proposed payment (which shall be not less than twenty-five (25) days after the receipt by the Trustee of such notice, unless the
Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted 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 fifteen (15) days and not less than ten (10) days prior to the date of the proposed payment, and not less than ten (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 at his address as it appears in 

  

 11 

 
the Note Register, not less than ten (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 so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special record date and shall no longer
be payable pursuant to the following clause (2) of this Section 2.03. 
  
 (2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or designated for
issuance, and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed
practicable by the Trustee. 
  
 Section 2.04. Execution of
Notes. The Notes shall be signed in the name and on behalf of the Company by the manual or facsimile signature of its Chairman of the Board, Chief Executive Officer, President or any Vice President (whether or not designated by a number or
numbers or word or words added before or after the title “Vice President”) and attested by the manual or facsimile signature of its Secretary or any of its Assistant Secretaries or its Treasurer or any of its Assistant Treasurers (which
may be printed, engraved or otherwise reproduced thereon, by facsimile or otherwise). Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the form of Note attached as Exhibit A hereto,
manually executed by the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.11), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or
such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.

  
 In case any officer of the Company who shall have signed any
of the Notes shall cease to be such officer before the Notes so signed shall have been authenticated and delivered by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the
person who signed such Notes had not ceased to be such officer of the Company, and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Note, shall be the proper officers of the Company,
although at the date of the execution of this Indenture any such person was not such an officer. 
  
 Section 2.05. Exchange and Registration of Transfer of Notes. (a) The Company shall cause to be kept at the Corporate Trust Office a register (the
register maintained in such office and in any other office or agency of the Company designated pursuant to Section 5.02 being herein sometimes collectively referred to as the “Note Register”) in which, subject to such 

  

 12 

 
reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. The Note Register shall be in
written form or in any form capable of being converted into written form within a reasonably prompt period of time. The Trustee is hereby appointed “Note Registrar” for the purpose of registering Notes and transfers of Notes as
herein provided. The Company may appoint one or more co-registrars in accordance with Section 5.02. 
  
 Upon surrender for registration of transfer of any Note to the Note Registrar or any co-registrar, and satisfaction of the requirements for such transfer
set forth in this Section 2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate
principal amount and bearing such restrictive legends as may be required by this Indenture. 
  
 Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at any such office or agency maintained by the Company
pursuant to Section 5.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes which the Noteholder making the exchange is entitled to receive bearing registration
numbers not contemporaneously outstanding. 
  
 All Notes issued
upon any registration of transfer or exchange of Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or
exchange. 
  
 All Notes presented or surrendered for registration
of transfer or for exchange, redemption, repurchase or conversion shall (if so required by the Company or the Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company,
and the Notes shall be duly executed by the Noteholder thereof or his attorney duly authorized in writing. 
  
 No service charge shall be made to any holder for any registration of, transfer or exchange of Notes, but the Company may require payment by the holder of
a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes. 
  
 Neither the Company nor the Trustee nor any Note Registrar shall be required to exchange or register a transfer of (a) any
Notes for a period of fifteen (15) days next preceding any selection of Notes to be redeemed, (b) any Notes or portions thereof called for redemption pursuant to Section 3.02 (c) any Notes or portions thereof surrendered for conversion pursuant to
Article 15, (d) any Notes 

  

 13 

 
or portions thereof tendered for repurchase (and not withdrawn) pursuant to Section 3.05 or (e) any Notes or portions thereof tendered for repurchase (and
not withdrawn) pursuant to Section 3.06. 
  
 (b) The following
provisions shall apply only to Global Notes: 
  
 (i) Each Global Note authenticated under this Indenture shall be registered in the name of the Depositary or a nominee thereof and delivered to such Depositary or a nominee thereof or Custodian therefor, and each such Global Note shall
constitute a single Note for all purposes of this Indenture. 
  
 (ii) Notwithstanding any other provision in this Indenture, no Global Note may be exchanged in whole or in part for Notes registered, and no transfer of a Global Note in whole or in part may be registered, in the name
of any Person other than the Depositary or a nominee thereof unless (A) the Depositary (i) has notified the Company that it is unwilling or unable to continue as Depositary for such Global Note and a successor depositary has not been appointed by
the Company within ninety days or (ii) has ceased to be a clearing agency registered under the Exchange Act and a successor depositary has not been appointed by the Company within ninety days, (B) an Event of Default has occurred and the maturity of
the Notes shall have been accelerated in accordance with Section 7.01 and any Noteholder shall have given written notice to the Company requesting the issuance of definitive Notes or (C) the Company, in its sole discretion, notifies the Trustee in
writing that it no longer wishes to have all the Notes represented by Global Notes. Any Global Note exchanged pursuant to clause (A) or (B) above shall be so exchanged in whole and not in part and any Global Note exchanged pursuant to clause (C)
above may be exchanged in whole or from time to time in part as directed by the Company. Any Note issued in exchange for a Global Note or any portion thereof shall be a Global Note; provided that any such Note so issued that is registered in
the name of a Person other than the Depositary or a nominee thereof shall not be a Global Note. 
  
 (iii) Securities issued in exchange for a Global Note or any portion thereof pursuant to clause (ii) above shall be issued in definitive,
fully registered form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Note 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 any legends required hereunder. Any Global Note to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Note Registrar. With regard to any Global Note to be exchanged in part,
either such Global Note 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 Note, the principal amount thereof shall be reduced, by an amount 

  

 14 

 
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 make available for delivery the Note issuable on such exchange to or upon the written order of the Depositary or an authorized representative thereof. 
  
 (iv) In the event of the occurrence of any of the events
specified in clause (ii) above, the Company will promptly make available to the Trustee a reasonable supply of certificated Notes in definitive, fully registered form, without interest coupons. 
  
 (v) Neither any members of, or participants in, the
Depositary (“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 Note registered in the name of the Depositary or any nominee thereof, 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 Note 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 Note. 

 
 (vi) At such time as all interests in a Global Note have
been redeemed, repurchased, converted, canceled or exchanged for Notes in certificated form, such Global Note shall, upon receipt thereof, be canceled by the Trustee in accordance with standing procedures and instructions existing between the
Depositary and the Custodian. At any time prior to such cancellation, if any interest in a Global Note is redeemed, repurchased, converted, canceled or exchanged for Notes in certificated form, the principal amount of such Global Note shall, in
accordance with the standing procedures and instructions existing between the Depositary and the Custodian, be appropriately reduced, and an endorsement shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the
Trustee, to reflect such reduction. 
  
 (c) The Trustee shall have
no responsibility or obligation to any Agent Members or any other Person with respect to the accuracy of the books or records, or the acts or omissions, of the Depository or its nominee or of any participant or member thereof, with respect to any
ownership interest in the Notes or with respect to the delivery to any Agent Member or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All
notices and 

  

 15 

 
communications to be given to the Noteholder and all payments to be made to Noteholders under the Notes shall be given or made only to or upon the order of
the registered Noteholders (which shall be the Depository or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depository subject to the customary procedures of the
Depository. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its Agent Members. 
  
 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this
Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Agent Members in any Global Note) other than to require delivery of such certificates and other documentation or
evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
  
 Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes. In case any
Note shall become mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its written request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and make available for delivery,
a new Note, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case, the applicant for a substituted Note
shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with
such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of
such Note and of the ownership thereof. 
  
 Following receipt by
the Trustee or such authenticating agent, as the case may be, of satisfactory security or indemnity and evidence, as described in the preceding paragraph, the Trustee or such authenticating agent may authenticate any such substituted Note and make
available for delivery such Note. Upon the issuance of any substituted Note, the Company may require the payment by the holder of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto and
any other expenses connected therewith. In case any Note which has matured or is about to mature or has been called for redemption or has been tendered for repurchase upon a Designated Event (and not withdrawn) or has been surrendered for repurchase
on a Repurchase Date (and not withdrawn) or is to be converted into Common Stock, cash or a combination of cash and Common Stock shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Note, pay or
authorize the payment of or convert or authorize the conversion of the 

  

 16 

 
same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to
the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or in connection with such
substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, the Trustee and, if applicable, any paying agent or conversion agent evidence to their satisfaction of the destruction, loss or theft of
such Note and of the ownership thereof. 
  
 Every substitute Note
issued pursuant to the provisions of this Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be
found at any time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law,
all Notes shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment or conversion or redemption or repurchase of mutilated, destroyed, lost or stolen Notes and shall
preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment or conversion or redemption or repurchase of negotiable instruments or other
securities without their surrender. 
  
 Section 2.07. Temporary
Notes. Pending the preparation of Notes in certificated form, the Company may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon the written request of the Company, authenticate and deliver temporary Notes
(printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the Notes in certificated form, but with such omissions, insertions and variations as may be appropriate for temporary
Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same
effect, as the Notes in certificated form. Without unreasonable delay, the Company will execute and deliver to the Trustee or such authenticating agent Notes in certificated form and thereupon any or all temporary Notes may be surrendered in
exchange therefor, at each office or agency maintained by the Company pursuant to Section 5.02 and the Trustee or such authenticating agent shall authenticate and make available for delivery in exchange for such temporary Notes an equal aggregate
principal amount of Notes in certificated form. Such exchange shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject
to the same limitations under this Indenture as Notes in certificated form authenticated and delivered hereunder. 
  

 17 

 Section 2.08. Cancellation of Notes. All Notes surrendered for the purpose of payment, redemption,
repurchase, conversion, exchange or registration of transfer shall, if surrendered to the Company or any paying agent or any Note Registrar or any conversion agent, be surrendered to the Trustee and promptly canceled by it, or, if surrendered to the
Trustee, shall be promptly canceled by it, and no Notes shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of such canceled Notes in accordance with its customary
procedures. If the Company shall acquire any of the Notes, such acquisition shall not operate as a redemption, repurchase or satisfaction of the indebtedness represented by such Notes unless and until the same are delivered to the Trustee for
cancellation. 
  
 Section 2.09. CUSIP Numbers. The Company
in issuing the Notes may use CUSIP numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in notices of redemption or repurchases as a convenience to Noteholders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or a repurchase and that reliance may be placed only on the other identification numbers printed on the Notes,
and any such redemption or repurchase shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the CUSIP numbers. 
  
 Section 2.10. Issuance of Additional Notes. After the Issue Date, the Company shall be entitled to issue additional
Notes under this Indenture, which Notes shall have identical terms as the Notes issued on the Issue Date, other than with respect to the date of issuance and issue price. All the Notes issued under this Indenture shall be treated as a single class
for all purposes of this Indenture including waivers, amendments, redemptions and offers to repurchase. 
  
 With respect to any additional Notes, the Company shall set forth in a resolution of the Board of Directors and an Officers’ Certificate, a copy of
each which shall be delivered to the Trustee, the following information: 
  
 (a) the aggregate principal amount of such additional Notes to be authenticated and delivered pursuant to this Indenture; and 
  
 (b) the issue price, the issue date and the CUSIP number of such additional Notes; provided, however, that no Additional Notes may be issued
at a price that would cause such additional Notes to not be fungible for U.S. Federal income tax purposes with any other Notes issued under this Indenture. 
  

 18 

 ARTICLE 3 
 REDEMPTION AND REPURCHASE OF NOTES 
  
 Section 3.01. Redemption of Notes. (a) Except as set forth in paragraph (b) of this Section 3.01, the Company may not redeem any Notes prior to
[        ], 2012. At any time on or after [        ], 2012 and prior to maturity, the Notes may be redeemed at the option of the Company, in whole or in part, upon
notice as set forth in Section 3.02, at a cash redemption price equal to 100% of the principal amount of the Notes being redeemed, together with accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption; provided
that if the redemption date falls after a record date and on or prior the corresponding interest payment date, then accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption shall be paid on such interest payment date to
the holders of record of such Notes on the applicable record date instead of the holders surrendering such Notes for redemption on such date and the redemption price payable to the holder who presents the Note for redemption will be 100% of the
principal amount of such Note and will not include any interest. Notwithstanding the foregoing, the Company may not redeem any Notes and the Trustee shall not redeem any Notes or mail any notice of redemption if the Company has failed to pay any
Interest on the Notes and such failure to pay is continuing, or if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded. 
  
 (b) At any time on or after [        ], 2010 and prior to
[        ], 2012, the Notes may be redeemed at the option of the Company, in whole or in part, upon notice as set forth in Section 3.02, at a cash redemption price equal to 100% of the principal amount of the
Notes being redeemed, together with accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption if the Closing Sale Price of the Common Stock has exceeded 150% of the applicable Conversion Price for at least 20 Trading Days
in any consecutive 30 Trading Day period ending on the Trading Day prior to the date of the mailing of the notice of redemption pursuant to Section 3.02; provided that if the redemption date falls after a record date and on or prior the
corresponding interest payment date, then accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption shall be paid on such interest payment date to the holders of record of such Notes on the applicable record date instead
of the holders surrendering such Notes for redemption on such date and the redemption price payable to the holder who presents the Note for redemption will be 100% of the principal amount of such Note and will not include any interest.
Notwithstanding the foregoing, the Company may not redeem the Notes and the Trustee shall not redeem the Notes or mail any notice of redemption if the Company has failed to pay any Interest on the Notes and such failure to pay is continuing, or if
the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded. 
  
 Section 3.02. Notice of Optional Redemption; Selection of Notes. In case the Company shall desire to exercise the right to redeem all or, as the
case may be, any part of the Notes pursuant to Section 3.01, it shall fix a date for 

  

 19 

 
redemption and it or, at its written request received by the Trustee not fewer than forty-five (45) days prior (or such shorter period of time as may be
acceptable to the Trustee) to the date fixed for redemption, the Trustee in the name of and at the expense of the Company, shall mail or cause to be mailed a notice of such redemption not fewer than thirty (30) nor more than sixty (60) days prior to
the redemption date to each holder of Notes so to be redeemed as a whole or in part at its last address as the same appears on the Note Register; provided that if the Company shall give such notice, it shall also give written notice of the
redemption date to the Trustee. Such mailing shall be by first class mail. The notice, if mailed in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the holder receives such notice. In any case,
failure to give such notice by mail or any defect in the notice to the holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Concurrently with the
mailing of any such notice of redemption, the Company shall issue a press release announcing such redemption, the form and content of which press release shall be determined by the Company in its sole discretion. The failure to issue any such press
release or any defect therein shall not affect the validity of the redemption notice or any of the proceedings for the redemption of any Note called for redemption. 
  
 Each such notice of redemption shall specify the aggregate principal amount of Notes to be redeemed, the paragraph of
Section 3.01 pursuant to which the Notes to be redeemed are being redeemed, the CUSIP number or numbers of the Notes being redeemed, the date fixed for redemption (which shall be a Business Day), the redemption price at which Notes are to be
redeemed, the place or places of payment, that payment will be made upon presentation and surrender of such Notes, that Interest accrued to the date fixed for redemption will be paid as specified in said notice, and that on and after said date
Interest thereon or on the portion thereof to be redeemed will cease to accrue. Such notice shall also state the current Conversion Rate and the date on which the right to convert such Notes or portions thereof into Common Stock, cash or a
combination of cash and Common Stock will expire. Furthermore, such notice shall state whether the Company has elected to settle its obligation upon conversion in cash or a combination of cash and shares of its Common Stock in lieu of shares of
Common Stock only. If fewer than all the Notes are to be redeemed, the notice of redemption shall identify the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is to be redeemed in part only, the notice of redemption shall
state the portion of the principal amount thereof to be redeemed and shall state that, on and after the redemption date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be issued.

  
 On or prior to the redemption date specified in the notice of
redemption given as provided in this Section 3.02, the Company will deposit with the Trustee or with one or more paying agents (or, if the Company is acting as its own paying agent, set aside, segregate and hold in trust as provided in Section 5.04)
an 

  

 20 

 
amount of money in immediately available funds sufficient to redeem on the redemption date all the Notes (or portions thereof) so called for redemption
(other than those theretofore surrendered for conversion into Common Stock, cash or a combination of cash and Common Stock) at the appropriate redemption price, together with accrued Interest payable to holders of Notes being redeemed to, but
excluding, the redemption date; provided that if such payment is made on the redemption date it must be received by the Trustee or paying agent, as the case may be, by 10:00 a.m. New York City time on such date. The Company shall be entitled
to retain any interest, yield or gain on amounts deposited with the Trustee or any paying agent pursuant to this Section 3.02 in excess of amounts required hereunder to pay the redemption price and accrued Interest to, but excluding, the redemption
date. If any Note called for redemption is converted pursuant hereto prior to such redemption date, any money deposited with the Trustee or any paying agent or so segregated and held in trust for the redemption of such Note shall be paid to the
Company upon its written request, or, if then held by the Company, shall be discharged from such trust. Whenever any Notes are to be redeemed, the Company will give the Trustee written notice in the form of an Officers’ Certificate not fewer
than forty-five (45) days (or such shorter period of time as may be acceptable to the Trustee) prior to the redemption date as to the aggregate principal amount of Notes to be redeemed. 
  
 If less than all of the outstanding Notes are to be redeemed, the Trustee shall select the Notes or portions thereof of the
Global Note or the Notes in certificated form to be redeemed (in principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the Trustee deems fair and appropriate. If any Note selected for partial redemption
is submitted for conversion in part after such selection, the portion of such Note submitted for conversion shall be deemed (so far as may be possible) to be the portion to be selected for redemption. The Notes (or portions thereof) so selected
shall be deemed duly selected for redemption for all purposes hereof, notwithstanding that any such Note is submitted for conversion in part before the mailing of the notice of redemption. 
  
 Upon any redemption of less than all of the outstanding Notes, the Company
and the Trustee may (but need not), solely for purposes of determining the pro rata allocation among such Notes as are unconverted and outstanding at the time of redemption, treat as outstanding any Notes surrendered for conversion during the period
of fifteen (15) days next preceding the mailing of a notice of redemption and may (but need not) treat as outstanding any Note authenticated and delivered during such period in exchange for the unconverted portion of any Note converted in part
during such period. 
  
 Section 3.03. Payment of Notes Called
For Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Notes or portion of Notes with respect to which such notice has been given shall, unless converted into Common Stock, cash or a combination of
cash and Common Stock pursuant to the terms hereof, become due and payable on the date fixed for 

  

 21 

 
redemption and at the place or places stated in such notice at the applicable redemption price, together with Interest accrued to (but excluding) the
redemption date, and on and after said date (unless the Company shall default in the payment of such Notes at the redemption price, together with Interest accrued to said date) Interest on the Notes or portion of Notes so called for redemption shall
cease to accrue and, after the close of business on the Business Day immediately preceding the redemption date (unless the Company shall default in the payment of such Notes at the redemption price, together with Interest accrued to said date) such
Notes shall cease to be convertible into Common Stock and, except as provided in Section 8.05 and Section 13.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Notes
except the right to receive the redemption price thereof and unpaid Interest to (but excluding) the redemption date. On presentation and surrender of such Notes at a place of payment in said notice specified, the said Notes or the specified portions
thereof shall be paid and redeemed by the Company at the applicable redemption price, together with Interest accrued thereon to, but excluding, the redemption date; provided that if the redemption date falls after a record date and on or
prior the corresponding interest payment date, then accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption shall be paid on such interest payment date to the holders of record of such Notes on the applicable record
date instead of the holders surrendering such Notes for redemption on such date. 
  
 Upon presentation of any Note redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Note or
Notes, of authorized denominations, in principal amount equal to the unredeemed portion of the Notes so presented. 
  
 Notwithstanding the foregoing, the Trustee shall not redeem any Notes or mail any notice of redemption during the continuance of a default in payment of
Interest on the Notes. If any Note called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the redemption date at a rate equal to 1% per annum plus
the rate borne by the Note and such Note shall remain convertible into Common Stock, cash or a combination of cash and Common Stock until the principal and Interest shall have been paid or duly provided for. 
  
 Section 3.04. Conversion Arrangement on Call for Redemption. In
connection with any redemption of Notes, the Company may arrange for the purchase and conversion of any Notes by an agreement with one or more investment banks or other purchasers to purchase such Notes by paying to the Trustee in trust for the
Noteholders, on or before the date fixed for redemption, an amount not less than the applicable redemption price, together with Interest accrued to, but excluding, the date fixed for redemption, of such Notes. Notwithstanding anything to the
contrary contained in this Article 3, the obligation of the Company to pay the redemption price of such Notes, together 

  

 22 

 
with Interest accrued to, but excluding, the date fixed for redemption, 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, a copy of which will be filed with the Trustee prior to the date fixed for redemption, any Notes 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 15) surrendered by such purchasers for conversion, all as of immediately prior to the
close of business on the date fixed for redemption (and the right to convert any such Notes shall be extended through such time), subject to payment of the above amount as aforesaid. At the direction of the Company, the Trustee shall hold and
dispose of any such amount paid to it in the same manner as it would monies deposited with it by the Company for the redemption of Notes. Without the Trustee’s prior written consent, no arrangement between the Company and such purchasers for
the purchase and conversion of any Notes shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this Indenture. 
  
 Section 3.05. Repurchase at Option of Holders Upon a Designated Event. (a) If there shall occur a Designated Event at
any time prior to maturity of the Notes, then each Noteholder shall have the right, at such holder’s option, to require the Company to repurchase all of such holder’s Notes, or any portion thereof that is a multiple of $1,000 principal
amount, on the date (the “Designated Event Repurchase Date”) specified by the Company that is thirty (30) days after the date of the Designated Event Notice (as defined in Section 3.05(b)) of such Designated Event at a repurchase
price equal to 100% of the principal amount thereof, together with accrued Interest, if any, to, but excluding, the Designated Event Repurchase Date; provided that if such Designated Event Repurchase Date falls after a record date and on or
prior to the corresponding interest payment date, then accrued and unpaid Interest, if any, to, but excluding the Designated Event Repurchase Date shall be paid on such interest payment date to the holders of record of the Notes on the applicable
record date instead of the holders surrendering the Notes for repurchase on such date and the repurchase price payable to the holder who presents the Note for repurchase will be 100% of the principal amount and will not include any Interest.
Repurchases of Notes under this Section 3.05 shall be made, at the option of the holder thereof, upon: 
  
 (i) delivery to the Trustee (or other paying agent appointed by the Company) by a holder of a duly completed notice (the
“Designated Event Repurchase Notice”) in the form set forth on the reverse of the Note prior to the close of business on the Designated Event Repurchase Date; and 
  
 (ii) delivery or book-entry transfer of the Notes to the Trustee (or other paying agent appointed by the
Company) at any time after delivery of the Designated Event Repurchase Notice (together with all 

  

 23 

 
necessary endorsements) at the Corporate Trust Office of the Trustee (or other paying agent appointed by the Company) in the Borough of Manhattan as provided
in Section 5.02, such delivery being a condition to receipt by the holder of the repurchase price therefor; provided that such repurchase price shall be so paid pursuant to this Section 3.05 only if the Note so delivered to the Trustee (or
other paying agent appointed by the Company) shall conform in all respects to the description thereof in the related Designated Event Repurchase Notice. 
  
 The Company shall purchase from the holder thereof, pursuant to this Section 3.05, a portion of a Note, if the principal amount of such portion is $1,000
or a whole multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Note also apply to the purchase of such portion of such Note. 
  

Any purchase by the Company contemplated pursuant to the provisions of this Section 3.05 shall be consummated by the delivery of the consideration to
be received by the holder promptly following the later of the Designated Event Repurchase Date and the time of the book-entry transfer or delivery of the Note, duly endorsed for transfer. 
  
 Notwithstanding anything herein to the contrary, any holder delivering to the Trustee (or other paying agent appointed by
the Company) the Designated Event Repurchase Notice contemplated by this Section 3.05 shall have the right to withdraw such Designated Event Repurchase Notice at any time prior to the close of business on the Designated Event Repurchase Date by
delivery of a written notice of withdrawal to the Trustee (or other paying agent appointed by the Company) in accordance with Section 3.05(c) below. 
  
 The Trustee (or other paying agent appointed by the Company) shall promptly notify the Company of the receipt by it of any Designated Event Repurchase
Notice or written notice of withdrawal thereof. 
  
 (b) On or
before the fifteenth day after the occurrence of a Designated Event, the Company or at its written request (which must be received by the Trustee at least five (5) Business Days prior to the date the Trustee is requested to give notice as described
below, unless the Trustee shall agree in writing to a shorter period), the Trustee, in the name of and at the expense of the Company, shall mail or cause to be mailed to all holders of record on the date of the Designated Event a notice (the
“Designated Event Notice”) of the occurrence of such Designated Event and of the repurchase right at the option of the holders arising as a result thereof. Such notice shall be mailed in the manner and with the effect set forth in
the first paragraph of Section 3.02 (without regard for the time limits set forth therein). If the Company shall give such notice, the Company shall also deliver a copy of the Designated Event Notice to the Trustee at such time as it is mailed to
Noteholders. Concurrently with the mailing of any Designated Event Notice, the Company shall issue a press release announcing such Designated Event referred to in the Designated Event Notice, the form and 

  

 24 

 
content of which press release shall be determined by the Company in its sole discretion. The failure to issue any such press release or any defect therein
shall not affect the validity of the Designated Event Notice or any proceedings for the repurchase of any Note which any Noteholder may elect to have the Company repurchase as provided in this Section 3.05. 
  
 Each Designated Event Notice shall specify the circumstances constituting the
Designated Event, the Designated Event Repurchase Date, the price at which the Company shall be obligated to repurchase Notes, that the holder must exercise the repurchase right on or prior to the close of business on the Designated Event Repurchase
Date (the “Designated Event Expiration Time”), that the holder shall have the right to withdraw any Notes surrendered prior to the Designated Event Expiration Time, a description of the procedure which a Noteholder must follow to
exercise such repurchase right and to withdraw any surrendered Notes, the place or places where the holder is to surrender such holder’s Notes, the amount of Interest accrued on each Note to the Designated Event Repurchase Date and the CUSIP
number or numbers of the Notes (if then generally in use) and include a form of Designated Event Repurchase Notice. 
  
 No failure of the Company to give the foregoing notices and no defect therein shall limit the Noteholders’ repurchase rights or affect the validity
of the proceedings for the repurchase of the Notes pursuant to this Section 3.05. 
  
 (c) A Designated Event Repurchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Trustee (or other paying agent appointed by the Company) in accordance with the
Designated Event Repurchase Notice at any time prior to the close of business on the Designated Event Repurchase Date, specifying: 
  
 (i) the certificate number, if any, of the Note in respect of which such notice of withdrawal is being submitted, or the appropriate
Depositary information if the Note in respect of which such notice of withdrawal is being submitted is represented by a Global Note, 
  
 (ii) the principal amount of the Note with respect to which such notice of withdrawal is being submitted, and 
  
 (iii) the principal amount, if any, of such Note which
remains subject to the original Designated Event Repurchase Notice and which has been or will be delivered for purchase by the Company. 
  
 (d) On or prior to the Designated Event Repurchase Date, the Company will deposit with the Trustee (or other paying agent appointed by the Company or if
the Company is acting as its own paying agent, set aside, segregate and hold in trust as provided in Section 5.04) an amount of money sufficient to repurchase on the Designated Event Repurchase Date all the Notes to be repurchased on such date at
the appropriate repurchase price, together with 

  

 25 

 
accrued Interest to, but excluding, the Designated Event Repurchase Date; provided that if such payment is made on the Designated Event Repurchase
Date it must be received by the Trustee or paying agent, as the case may be, by 10:00 a.m. New York City time, on such date. Subject to receipt of funds and/or Notes by the Trustee (or other paying agent appointed by the Company), payment for Notes
surrendered for repurchase (and not withdrawn) prior to the Designated Event Expiration Time will be made promptly (but in no event more than five (5) Business Days) following the later of (x) the Designated Event Repurchase Date with respect to
such Note (provided the holder has satisfied the conditions in Section 3.05) and (y) the time of delivery of such Note to the Trustee (or other paying agent appointed by the Company) by the holder thereof in the manner required by Section
3.05) by mailing checks for the amount payable to the holders of such Notes entitled thereto as they shall appear in the Note Register. 
  
 If the Trustee (or other paying agent appointed by the Company) holds money sufficient to repurchase on the Business Day following the Designated Event
Repurchase Date all the Notes or portions thereof that are to be purchased as of the Designated Event Repurchase Date, then on and after the Designated Event Repurchase Date (i) the Notes will cease to be outstanding, (ii) Interest on the Notes will
cease to accrue, and (iii) all other rights of the holders of such Notes will terminate, whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or paying agent, other than the right to receive
the repurchase price upon delivery of the Notes. 
  
 (e) In the
case of a reclassification, change, consolidation, merger, combination, sale or conveyance to which Section 15.10 applies, in which the Common Stock of the Company is changed or exchanged as a result into the right to receive stock, securities or
other property or assets (including cash), which includes shares of Common Stock of the Company or shares of common stock of another Person that are, or upon issuance will be, traded on a United States national securities exchange or approved for
trading on an established automated over-the-counter trading market in the United States and such shares constitute at the time such change or exchange becomes effective in excess of 50% of the aggregate Fair Market Value of such stock, securities
or other property or assets (including cash) (as determined by the Company, which determination shall be conclusive and binding), then the Person formed by such consolidation or resulting from such merger or which acquires such assets, as the case
may be, shall execute and deliver to the Trustee a supplemental indenture (accompanied by an Opinion of Counsel that such supplemental indenture complies with the Trust Indenture Act as in force at the date of execution of such supplemental
indenture) modifying the provisions of this Indenture relating to the right of holders of the Notes to cause the Company to repurchase the Notes following a Designated Event, including without limitation the applicable provisions of this Section
3.05 and the definitions of Common Stock and Designated Event, as appropriate, as determined in good faith by the Company (which determination shall be conclusive and binding), to make such provisions apply to such other 

  

 26 

 
Person if different from the Company and the common stock issued by such Person (in lieu of the Company and the Common Stock of the Company). 
  
 (f) The Company will comply with the provisions of Rule 13e-4 and any other
tender offer rules under the Exchange Act (including, without limitation, filing a Schedule TO or other schedule) to the extent then applicable in connection with the repurchase rights of the holders of Notes in the event of a Designated Event.

  
 Section 3.06. Repurchase of Notes by the Company at Option
of the Holder. Unless the Company has elected to redeem all of the Notes in accordance with Section 3.01, Notes shall be purchased by the Company pursuant to the terms of the Notes at the option of the holder on
[        ] of 2012, 2015 and 2020 (each a “Repurchase Date”), for cash, at a repurchase price of 100% of the principal amount, plus any accrued and unpaid Interest to, but excluding, the
Repurchase Date, subject to the provisions of Section 3.07; provided that no Notes may be repurchased by the Company pursuant to this Section 3.06 if the principal amount of the Notes has been accelerated and such acceleration has not been
rescinded on or prior to the Repurchase Date; and provided, further, that if the Repurchase Date occurs after a record date and on or prior to the corresponding interest payment date, then the Company will pay accrued and unpaid
Interest to, but excluding, the Repurchase Date to the record holder on the record date immediately preceding the Repurchase Date and the repurchase price payable to the holder who presents the Note for repurchase will be 100% of the principal
amount and will not include any Interest. Repurchases of Notes under this Section 3.06 shall be made, at the option of the holder thereof, upon: 
  
 (a) delivery to the Trustee (or other paying agent appointed by the Company) by a holder of a duly completed notice (the “Repurchase
Notice”) in the form set forth on the reverse of the Note during the period beginning at any time from the opening of business on the date that is 20 Business Days prior to the Repurchase Date until the close of business on the date that is
two Business Days prior to the Repurchase Date; and 
  
 (b)
delivery or book-entry transfer of the Notes to the Trustee (or other paying agent appointed by the Company) at any time after delivery of the Repurchase Notice (together with all necessary endorsements) at the Corporate Trust Office of the Trustee
(or other paying agent appointed by the Company) in the Borough of Manhattan as provided in Section 5.02, such delivery being a condition to receipt by the holder of the repurchase price therefor; provided that such repurchase price shall be
so paid pursuant to this Section 3.06 only if the Note so delivered to the Trustee (or other paying agent appointed by the Company) shall conform in all respects to the description thereof in the related Repurchase Notice. 
  
 The Company shall purchase from the holder thereof, pursuant to this Section
3.06, a portion of a Note, if the principal amount of such portion is $1,000 

  

 27 

 
or a whole multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Note also apply to the purchase of such portion of such
Note. 
  
 Any purchase by the Company contemplated pursuant to the
provisions of this Section 3.06 shall be consummated by the delivery of the consideration to be received by the holder promptly (but in no event more than five (5) Business Days) following the later of (x) the Repurchase Date and (y) the time of the
book-entry transfer or delivery of the Note. 
  
 Notwithstanding
anything herein to the contrary, any holder delivering to the Trustee (or other paying agent appointed by the Company) a Repurchase Notice contemplated by this Section 3.06 shall have the right to withdraw such Repurchase Notice at any time prior to
the close of business on the Repurchase Date by delivery of a written notice of withdrawal to the Trustee (or other paying agent appointed by the Company) in accordance with Section 3.08. 
  
 The Trustee (or other paying agent appointed by the Company) shall promptly notify the Company of the receipt by it of any
Repurchase Notice or written notice of withdrawal thereof. 
  
 Section 3.07. Company Repurchase Notice. (a) The Notes to be repurchased on any Repurchase Date pursuant to Section 3.06 will be paid for in cash. 
  
 Unless the Company has elected to redeem all of the Notes in accordance with Section 3.01, at least three Business Days
before the Company Repurchase Notice Date, the Company shall deliver an Officers’ Certificate to the Trustee specifying: 
  
 (i) the information required by Section 3.07(b) in the Company Repurchase Notice, and 
  
 (ii) whether the Company desires the Trustee to give the
Company Repurchase Notice required by Section 3.07(b). 
  
 (b)
Unless the Company has elected to redeem all of the Notes in accordance with Section 3.01, in connection with any repurchase of Notes, the Company shall, no less than 20 Business Days prior to the Repurchase Date (the “Company Repurchase
Notice Date”), give notice to holders at their addresses shown in the Note Register setting forth information specified in this Section 3.07(b) (the “Company Repurchase Notice”). The Company will also give notice to
beneficial owners as required by applicable law. 
  
 The Company
Repurchase Notice shall: 
  
 (1) state the
repurchase price and the Repurchase Date to which the Company Repurchase Notice relates; 
  

 28 

 (2) include a form of Repurchase Notice; 
  
 (3) state the name and address of the Trustee (or other
paying agent appointed by the Company); 
  
 (4)
state that Notes must be surrendered to the Trustee (or other paying agent appointed by the Company) to collect the repurchase price; 
  
 (5) if the Notes are then convertible, state that Notes as to which a Repurchase Notice has been given may be converted only if the
Repurchase Notice is withdrawn in accordance with the terms of this Indenture; and 
  
 (6) state the CUSIP number of the Notes. 
  
 The Company Repurchase Notice may be given by the Company or, at the Company’s request, the Trustee shall give such Company Repurchase Notice in the Company’s
name and at the Company’s expense. 
  
 (c) The Company will
comply with the provisions of Rule 13e-4 and any other tender offer rules under the Exchange Act (including, without limitation, filing a Schedule TO or other schedule) to the extent then applicable in connection with the repurchase rights of the
holders of Notes. 
  
 Section 3.08. Effect of Repurchase
Notice. Upon receipt by the Trustee (or other paying agent appointed by the Company) of the Repurchase Notice specified in Section 3.06, the holder of the Note in respect of which such Repurchase Notice was given shall (unless such Repurchase
Notice is validly withdrawn) thereafter be entitled to receive solely the repurchase price with respect to such Note. Such repurchase price shall be paid to such holder, subject to receipt of funds and/or Notes by the Trustee (or other paying agent
appointed by the Company), promptly following the later of (x) the Repurchase Date with respect to such Note (provided the holder has satisfied the conditions in Section 3.06) and (y) the time of delivery of such Note to the Trustee (or other
paying agent appointed by the Company) by the holder thereof in the manner required by Section 3.06. Notes in respect of which a Repurchase Notice has been given by the holder thereof may not be converted pursuant to Article 15 hereof on or after
the date of the delivery of such Repurchase Notice unless such Repurchase Notice has first been validly withdrawn. 
  
 A Repurchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Trustee (or other paying agent appointed by
the Company) in accordance with the Repurchase Notice at any time prior to the close of business on the Repurchase Date, specifying: 
  
 (a) the certificate number, if any, of the Note in respect of which such notice of withdrawal is being submitted, or the appropriate Depositary 

  

 29 

 
information if the Note in respect of which such notice of withdrawal is being submitted is represented by a Global Note, 
  
 (b) the principal amount of the Note with respect to which such notice of
withdrawal is being submitted, and 
  
 (c) the principal amount,
if any, of such Note which remains subject to the original Repurchase Notice and which has been or will be delivered for repurchase by the Company. 
  
 Section 3.09. Deposit of Repurchase Price. (a) Prior to 10:00 a.m. (New York City Time) on the Repurchase Date, the Company shall deposit with the
Trustee (or other paying agent appointed by the Company; 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 5.04) an amount of cash (in
immediately available funds if deposited on such Business Day), sufficient to pay the aggregate repurchase price of all the Notes or portions thereof that are to be purchased as of the Repurchase Date, together with accrued Interest to, but
excluding, the Repurchase Date. 
  
 (b) If the Trustee or other
paying agent appointed by the Company, or the Company or a Subsidiary or Affiliate of either of them, if such entity is acting as the paying agent, holds cash sufficient to pay the aggregate repurchase price of all the Notes, or portions thereof
that are to be repurchased on the Business Day following the Repurchase Date, then on and after the Repurchase Date (i) the Notes will cease to be outstanding, (ii) Interest on the Notes will cease to accrue, and (iii) all other rights of the
holders of such Notes will terminate, whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or paying agent, other than the right to receive the repurchase price upon delivery of the Notes.

  
 Section 3.10. Notes Repurchased in Part. Upon
presentation of any Note repurchased pursuant to Section 3.05 or 3.06, as the case may be, only in part, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the
Company, a new Note or Notes, of any authorized denomination, in aggregate principal amount equal to the unrepurchased portion of the Notes presented. 
  
 Section 3.11. Repayment to the Company. The Trustee (or other paying agent appointed by the Company) shall return to the Company any cash or money
that remains unclaimed as provided in Section 13.04, together with interest, if any, thereon, held by them for the payment of the repurchase price pursuant to Section 3.05 or 3.06, as the case may be; provided that to the extent that the
aggregate amount of cash or money deposited by the Company pursuant to Section 3.05(d) or Section 3.09, as the case may be, exceeds the aggregate repurchase price of the Notes or portions thereof which the Company is obligated to purchase as of the
Designated Event Repurchase Date or the Repurchase Date, 

  

 30 

 
as the case may be, then, unless otherwise agreed in writing with the Company, promptly after the Business Day following the Designated Event Repurchase Date
or the Repurchase Date, as the case may be, the Trustee shall return any such excess to the Company together with interest, if any, thereon. 
  
 ARTICLE 4 
 [INTENTIONALLY
OMITTED] 
  
 ARTICLE 5 
 PARTICULAR COVENANTS OF THE COMPANY 
  
 Section 5.01. Payment of Principal and Interest. The Company covenants
and agrees that it will duly and punctually pay or cause to be paid the principal of (including the redemption price upon redemption or the repurchase price upon repurchase, in each case pursuant to Article 3) and Interest, on each of the Notes at
the places, at the respective times and in the manner provided herein and in the Notes. 
  
 Section 5.02. Maintenance of Office or Agency. The Company will maintain an office or agency in the Borough of Manhattan, The City of New York, where the Notes may be surrendered for registration of transfer or
exchange or for presentation for payment or for conversion, redemption or repurchase and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency not designated or appointed by 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 Corporate Trust Office or the corporate trust office of the Trustee in The Borough of Manhattan which office is located at
[            ], New York, New York [            ]. 
  
 The Company may also from time to time designate co-registrars and one or more offices or agencies where the Notes may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Company will give prompt written notice of any such designation or rescission and of any change in the location of any such other office
or agency. 
  
 The Company hereby initially designates the Trustee
as paying agent, Note Registrar, Custodian and conversion agent and each of the Corporate Trust Office and the office of agency of the Trustee in The Borough of Manhattan, shall be considered as one such office or agency of the Company for each of
the aforesaid purposes. 
  

 31 

 So long as the Trustee is the Note Registrar, the Trustee agrees to mail, or cause to be mailed, the
notices set forth in Section 8.10 and the third paragraph of Section 8.11. If co-registrars have been appointed in accordance with this Section, the Trustee shall mail such notices only to the Company and the holders of Notes it can identify from
its records. 
  
 Section 5.03. Appointments to Fill Vacancies
in Trustee’s Office. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 8.10, a Trustee, so that there shall at all times be a Trustee hereunder. 

 
 Section 5.04. Provisions as to Paying Agent. (a) If the Company
shall appoint a paying agent other than the Trustee, or if the Trustee shall appoint such a paying agent, the Company will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee,
subject to the provisions of this Section 5.04: 
  
 (1) that it will hold all sums held by it as such agent for the payment of the principal of or Interest on the Notes (whether such sums have been paid to it by the Company or by any other obligor on the Notes) in trust for the benefit of
the holders of the Notes; 
  
 (2) that it will
give the Trustee notice of any failure by the Company (or by any other obligor on the Notes) to make any payment of the principal of or Interest on the Notes when the same shall be due and payable; and 
  
 (3) that at any time during the continuance of an Event of
Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust. 
  
 The Company shall, on or before each due date of the principal or Interest on the Notes, deposit with the paying agent a sum (in funds which are
immediately available on the due date for such payment) sufficient to pay such principal or Interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of any failure to take such action; provided that
if such deposit is made on the due date, such deposit shall be received by the paying agent by 10:00 a.m. New York City time, on such date. 
  
 (b) If the Company shall act as its own paying agent, it will, on or before each due date of the principal of or Interest on the Notes, set aside,
segregate and hold in trust for the benefit of the holders of the Notes a sum sufficient to pay such principal or Interest so becoming due and will promptly notify the Trustee of any failure to take such action and of any failure by the Company (or
any other obligor under the Notes) to make any payment of the principal of or Interest on the Notes when the same shall become due and payable. 
  

 32 

 (c) Anything in this Section 5.04 to the contrary notwithstanding, the Company may, at any time, for the
purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Company or any paying agent hereunder as required by this Section 5.04, such sums to
be held by the Trustee upon the trusts herein contained and upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such sums. 
  
 (d) Anything in this Section 5.04 to the contrary notwithstanding, the
agreement to hold sums in trust as provided in this Section 5.04 is subject to Sections 13.03 and 13.04. 
  
 The Trustee shall not be responsible for the actions of any other paying agents (including the Company if acting as its own paying agent) and shall have
no control of any funds held by such other paying agents. 
  
 Section 5.05. Existence. Subject to Article 12, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence and rights (charter and statutory); provided that the
Company shall not be required to preserve any such right if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any
material respect to the Noteholders. 
  
 Section 5.06.
Maintenance of Properties. The Company will cause all properties used or useful in the conduct of its business or the business of any Significant Subsidiary to be maintained and kept in good condition, repair and working order and supplied
with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided that nothing in this Section shall prevent the Company from discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the
judgment of the Company, desirable in the conduct of its business or the business of any subsidiary and not disadvantageous in any material respect to the Noteholders. 
  
 Section 5.07. Payment of Taxes and Other Claims. The Company will pay or discharge, or cause to be paid or
discharged, before the same may become delinquent, (i) all taxes, assessments and governmental charges levied or imposed upon the Company or any Significant Subsidiary or upon the income, profits or property of the Company or any Significant
Subsidiary, (ii) all claims for labor, materials and supplies which, if unpaid, might by law become a lien or charge upon the property of the Company or any Significant Subsidiary and (iii) all stamp taxes and other duties, if any, which may be
imposed by the United States or any political subdivision thereof or therein in connection with the issuance, 

  

 33 

 
transfer, exchange, conversion, redemption or repurchase of any Notes or with respect to this Indenture; provided that, in the case of clauses (i) and
(ii), the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim (A) if the failure to do so will not, in the aggregate, have a material adverse impact on the Company, or (B) if
the amount, applicability or validity is being contested in good faith by appropriate proceedings. 
  
 Section 5.08. Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of or Interest on the Notes
as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such
law had been enacted. 
  
 Section 5.09. Compliance Certificate.
The Company shall deliver to the Trustee, within one hundred twenty (120) days after the end of each fiscal year of the Company, a certificate signed by either the principal executive officer, principal financial officer or principal accounting
officer of the Company, stating whether or not to the best knowledge of the signer 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 the status thereof of which the signer may have knowledge. 
  
 The Company will deliver to the Trustee, forthwith upon becoming aware of (i)
any default in the performance or observance of any covenant, agreement or condition contained in this Indenture, or (ii) any Event of Default, an Officers’ Certificate specifying with particularity such Default or Event of Default and further
stating what action the Company has taken, is taking or proposes to take with respect thereto. 
  
 Any notice required to be given under this Section 5.09 shall be delivered to a Responsible Officer of the Trustee at its Corporate Trust Office. 
  

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 ARTICLE 6 
 NOTEHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  
 Section 6.01. Noteholders’ Lists. The Company
covenants and agrees that it will furnish or cause to be furnished to the Trustee, semiannually, not more than fifteen (15) days after each [            ] 1 and
[            ] 1 in each year beginning with [            ] 1, 2005, and at such other times as the Trustee may request in
writing, within thirty (30) days after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as
the Trustee may reasonably require of the names and addresses of the holders of Notes as of a date not more than fifteen (15) days (or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time
such information is furnished, except that no such list need be furnished by the Company to the Trustee so long as the Trustee is acting as the sole Note Registrar. 
  
 Section 6.02. Preservation And Disclosure of Lists. (a) The Trustee shall preserve, in as current a form as is
reasonably practicable, all information as to the names and addresses of the holders of Notes contained in the most recent list furnished to it as provided in Section 6.01 or maintained by the Trustee in its capacity as Note Registrar or
co-registrar in respect of the Notes, if so acting. The Trustee may destroy any list furnished to it as provided in Section 6.01 upon receipt of a new list so furnished. 
  
 (b) The rights of Noteholders to communicate with other holders of Notes with respect to their rights under this Indenture
or under the Notes, and the corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture Act. 
  
 (c) Every Noteholder, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of
either of them shall be held accountable by reason of any disclosure of information as to names and addresses of holders of Notes made pursuant to the Trust Indenture Act. 
  
 Section 6.03. Reports by Trustee. (a) Within sixty (60) days after May 15 of each year commencing with the year 2004,
the Trustee shall transmit to holders of Notes such reports dated as of May 15 of the year in which such reports are made concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times
and in the manner provided pursuant thereto. In the event that no events have occurred under the applicable sections of the Trust Indenture Act the Trustee shall be under no duty or obligation to provide such reports. 
  

 35 

 (b) A copy of such report shall, at the time of such transmission to holders of Notes, be filed by the
Trustee with each stock exchange and automated quotation system upon which the Notes are listed (if applicable) and with the Company. The Company will promptly notify the Trustee in writing when the Notes are listed on any stock exchange or
automated quotation system or delisted therefrom. 
  
 Section
6.04. Reports by Company. The Company shall file with the Trustee and the Commission, and transmit to holders of Notes, such information, documents and other reports and such summaries thereof, as may be required pursuant to the Trust
Indenture Act at the times and in the manner provided pursuant to such Act, whether or not the Notes are governed by such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within fifteen (15) days after the same is so required to be filed with the Commission. Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificates). 
  
 ARTICLE 7 
 REMEDIES OF THE
TRUSTEE AND NOTEHOLDERS ON AN EVENT OF DEFAULT 
  
 Section 7.01. Events of Default. In case one or more of the following Events of Default (whatever the reason for such
Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) shall have
occurred and be continuing: 
  
 (a) default in the payment of any
installment of Interest upon any of the Notes as and when the same shall become due and payable, and continuance of such default for a period of thirty (30) days; or 
  
 (b) default in the payment of the principal or premium, if any, of any of the Notes as and when the same shall become due
and payable either at maturity or in connection with any redemption, repurchase or otherwise, in each case pursuant to Article 3; or 
  
 (c) default in the Company’s obligation to provide a Designated Event Notice upon a Designated Event as provided in Section 3.05; or 
  
 (d) failure on the part of the Company duly to observe or perform any other
of the covenants or agreements on the part of the Company in the Notes or 

  

 36 

 
in this Indenture (other than a covenant or agreement a default in whose performance or whose breach is elsewhere in this Section 7.01 specifically dealt
with) continued for a period of sixty (60) days after the date on which written notice of such failure, requiring the Company to remedy the same, shall have been given to the Company by the Trustee, or the Company and a Responsible Officer of the
Trustee by the holders of at least twenty-five percent (25%) in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04; or 
  
 (e) failure on the part of the Company to deliver the shares of its Common Stock or any cash in lieu of Common Shares, as
the case may be, upon conversion of the Notes within the time period required by Article 15 continued for a period of five (5) days; or 
  
 (f) the Company shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Company or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or any substantial part of the property of the
Company, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Company, or shall make a general assignment for the benefit of
creditors, or shall fail generally to pay its debts as they become due; or 
  
 (g) an involuntary case or other proceeding shall be commenced against the Company seeking liquidation, reorganization or other relief with respect to the Company or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or any substantial part of the property of the Company, and such involuntary case or other
proceeding shall remain undismissed and unstayed for a period of sixty (60) consecutive days; or 
  
 (h) default in the payment of principal when due at stated maturity of other indebtedness or acceleration of such other indebtedness for borrowed money
where the aggregate principal amount with respect to which the default or acceleration has occurred exceeds $15 million, and such acceleration has not been rescinded or annulled within a period of thirty (30) days; or 
  
 (i) any judgment or judgments for the payment of money in excess of $15
million are rendered against the Company or one of its subsidiaries that are not waived, satisfied or discharged for any period of (30) days during which a stay of enforcement is not in effect; 
  
 then, and in each and every such case (other than an Event of Default specified in Section
7.01(f) or 7.01(g)), unless the principal and premium, if any, of all of the Notes shall have already become due and payable, either the Trustee or the 

  

 37 

 
holders of not less than twenty-five percent (25%) in aggregate principal amount of the Notes then outstanding hereunder determined in accordance with
Section 9.04, by notice in writing to the Company (and to the Trustee if given by Noteholders), may declare the principal and premium, if any, of all the Notes and the Interest accrued thereon to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Notes contained to the contrary notwithstanding. If an Event of Default specified in Section 7.01(f) or 7.01(g) occurs, the principal
and premium, if any, of all the Notes and the Interest accrued thereon shall be immediately and automatically due and payable without necessity of further action. This provision, however, is subject to the conditions that if, at any time after the
principal or premium, if any, of the Notes shall have been so declared due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall
deposit with the Trustee a sum sufficient to pay all matured installments of Interest upon all Notes and the principal and premium of any and all Notes which shall have become due otherwise than by acceleration (with interest on overdue installments
of Interest (to the extent that payment of such interest is enforceable under applicable law) and on such principal or premium at the rate borne by the Notes, to the date of such payment or deposit) and amounts due to the Trustee pursuant to Section
8.06, and if any and all defaults under this Indenture, other than the nonpayment of principal and premium, if any, of and accrued Interest on Notes which shall have become due by acceleration, shall have been cured or waived pursuant to Section
7.07, then and in every such case the holders of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all Defaults or Events of Default and rescind and annul such
declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent thereon. The Company shall notify in writing a
Responsible Officer of the Trustee, promptly upon becoming aware thereof, of any Event of Default. 
  
 In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because
of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the holders of Notes, and the Trustee shall be restored respectively to their several
positions and rights hereunder, and all rights, remedies and powers of the Company, the holders of Notes, and the Trustee shall continue as though no such proceeding had been taken. 
  
 Section 7.02. Payments of Notes on Default; Suit Therefor. The Company covenants that (a) in case default shall be
made in the payment of any installment of Interest upon any of the Notes as and when the same shall become due and payable, and such default shall have continued for a period of thirty (30) days, or (b) in case default shall be made in the payment
of the principal or 

  

 38 

 
premium, if any, of any of the Notes as and when the same shall have become due and payable, whether at maturity of the Notes or in connection with any
redemption, by or under this Indenture declaration or otherwise, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Notes, the whole amount that then shall have become due and payable on all
such Notes for principal or Interest, as the case may be, with interest upon the overdue principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue installments of Interest
at the rate borne by the Notes, plus 1% and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee, its agents, attorneys and counsel, and all
other amounts due the Trustee under Section 8.06. Until such demand by the Trustee, the Company may pay the principal of and Interest on the Notes to the registered holders, whether or not the Notes are overdue. 
  
 In case the Company shall fail forthwith to pay such amounts upon such
demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action
or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law out of the property of the Company or any other obligor on
the Notes wherever situated the monies adjudged or decreed to be payable. 
  
 In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under Title 11 of the United States Code, or any other applicable law, or in
case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other
obligor, or in the case of any other judicial proceedings relative to the Company or such other obligor upon the Notes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the
Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 7.02, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and Interest owing and unpaid in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the Noteholders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors, or
its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due the Trustee under Section 8.06, and to take any other action
with 

  

 39 

 
respect to such claims, including participating as a member of any official committee of creditors, as it reasonably deems necessary or advisable, and,
unless prohibited by law or applicable regulations, and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Noteholders 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 Noteholders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including counsel fees
and expenses incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment of
the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property which the holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or
under any plan of reorganization or arrangement or otherwise. 
  
 All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the production thereof at any trial or other proceeding relative
thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the holders of the Notes. 
  
 In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the Trustee
shall be a party) the Trustee shall be held to represent all the holders of the Notes, and it shall not be necessary to make any holders of the Notes parties to any such proceedings. 
  
 Section 7.03. Application of Monies Collected by Trustee. Any monies collected by the Trustee pursuant to this
Article 7 shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender
thereof, if fully paid: 
  
 FIRST: To the payment of all amounts
due the Trustee under Section 8.06; 
  
 SECOND: In case the
principal of the outstanding Notes shall not have become due and be unpaid, to the payment of Interest on the Notes in default in the order of the maturity of the installments of such Interest, with interest (to the extent that such interest has
been collected by the Trustee) upon the overdue installments of Interest at the rate borne by the Notes, such payments to be made ratably to the Persons entitled thereto; 
  

 40 

 THIRD: In case the principal of the outstanding Notes shall have become due, by declaration or otherwise,
and be unpaid to the payment of the whole amount then owing and unpaid upon the Notes for principal and Interest, with Interest on the overdue principal and (to the extent that such Interest has been collected by the Trustee) upon overdue
installments of Interest at the rate borne by the Notes, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal and Interest without preference or
priority of principal over Interest, or of Interest over principal or of any installment of Interest over any other installment of Interest, or of any Note over any other Note, ratably to the aggregate of such principal and accrued and unpaid
Interest; and 
  
 FOURTH: To the payment of the remainder, if any,
to the Company. 
  
 Section 7.04. Proceedings by Noteholder.
No holder of any Note shall have any right by virtue of or by reference to any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of
a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as
hereinbefore provided, and unless also the holders of not less than twenty-five percent (25%) in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding
in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable security or indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for sixty (60) days
after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding and no direction inconsistent with such written request shall have been given to the Trustee pursuant
to Section 7.07; it being understood and intended, and being expressly covenanted by the taker and holder of every Note with every other taker and holder and the Trustee, that no one or more holders of Notes shall have any right in any manner
whatever by virtue of or by reference to any provision of this Indenture to affect, disturb or prejudice the rights of any other holder of Notes, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any
right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Notes (except as otherwise provided herein). For the protection and enforcement of this Section 7.04 each and every
Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 
  
 Notwithstanding any other provision of this Indenture and any provision of any Note, the right of any holder of any Note to receive payment of the
principal and premium, if any, of (including the redemption price or repurchase price upon redemption or repurchase pursuant to Article 3), and accrued Interest on such Note, on or after the respective due dates expressed in such Note or in the

  

 41 

 
event of redemption or repurchase, or to institute suit for the enforcement of any such payment on or after such respective dates against the Company shall
not be impaired or affected without the consent of such holder. 
  
 Anything in this Indenture or the Notes to the contrary notwithstanding, the holder of any Note, without the consent of either the Trustee or the holder of any other Note, in its own behalf and for its own benefit, may enforce, and may
institute and maintain any proceeding suitable to enforce, its rights of conversion as provided herein. 
  
 Section 7.05. Proceedings by Trustee. In case of an Event of Default, the Trustee may, in its discretion, proceed to protect and enforce the rights
vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific
enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 
  
 Section 7.06. Remedies Cumulative and Continuing. Except as provided
in Section 2.06, all powers and remedies given by this Article 7 to the Trustee or to the Noteholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the
Trustee or the holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of any holder of any of the
Notes to exercise any right or power accruing upon any Default or Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or any acquiescence therein, and,
subject to the provisions of Section 7.04, every power and remedy given by this Article 7 or by law to the Trustee or to the Noteholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the
Noteholders. 
  
 Section 7.07. Direction of Proceedings and
Waiver of Defaults by Majority of Noteholders. The holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee; provided that (a) such direction shall not be in conflict with any rule of law or with this Indenture, (b) the
Trustee may take any other action which is not inconsistent with such direction, (c) the Trustee may decline to take any action that would benefit some Noteholder to the detriment of other Noteholders and (d) the Trustee may decline to take any
action that would involve the Trustee in personal liability. The holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 may, on behalf of the holders of all of the Notes,
waive any past 

  

 42 

 
Default or Event of Default hereunder and its consequences except (i) a default in the payment of Interest on, or the principal of, the Notes, (ii) a failure
by the Company to convert any Notes into Common Stock, cash or combination of cash and Common Stock, (iii) a default in the payment of the redemption price pursuant to Article 3, (iv) a default in the payment of the repurchase price pursuant to
Article 3 or (v) a default in respect of a covenant or provisions hereof which under Article 11 cannot be modified or amended without the consent of the holders of each or all Notes then outstanding or affected thereby. Upon any such waiver, the
Company, the Trustee and the holders of the Notes shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.
Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.07, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not
continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 
  
 Section 7.08. Notice of Defaults. The Trustee shall, within ninety (90) days after a Responsible Officer of the Trustee has actual knowledge of the
occurrence of a default, mail to all Noteholders, as the names and addresses of such holders appear upon the Note Register, notice of all defaults known to a Responsible Officer, unless such defaults shall have been cured or waived before the giving
of such notice; provided that except in the case of default in the payment of the principal of or premium or Interest on any of the Notes, the Trustee shall be protected in withholding such notice if and so long as a trust committee of
directors and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Noteholders. 
  
 Section 7.09. Undertaking To Pay Costs. All parties to this Indenture agree, and each holder of any Note by his acceptance thereof shall be deemed
to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party
litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due
regard to the merits and good faith of the claims or defenses made by such party litigant; provided that the provisions of this Section 7.09 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit
instituted by any Noteholder, or group of Noteholders, holding in the aggregate more than ten percent in principal amount of the Notes at the time outstanding determined in accordance with Section 9.04, or to any suit instituted by any Noteholder
for the enforcement of the payment of the principal of or Interest on any Note on or after the due date expressed in such Note or to any suit for the enforcement of the right to convert any Note in accordance with the provisions of Article 15.

  

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 ARTICLE 8 
 THE TRUSTEE 
  
 Section 8.01. Duties and Responsibilities of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all 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 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 person 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 and after the curing or waiving of all 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 Trust Indenture Act, 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, duties or obligations shall be read into
this Indenture and the Trust Indenture Act against the Trustee; and 
  
 (ii) in the absence of bad faith and willful misconduct on the part of the Trustee, the Trustee may conclusively rely as to the truth of the statements and the correctness of the opinions expressed therein, upon any
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee,
the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture but need not confirm or investigate the accuracy of mathematical calculations or other facts states therein;

  
 (b) the Trustee shall not be liable for any error of judgment
made in good faith by a Responsible Officer or Officers of the Trustee, unless the Trustee was negligent in ascertaining the pertinent facts; 
  
 (c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the written direction
of the holders of not less than a majority in principal amount of the Notes at the time outstanding determined as provided in Section 9.04 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred upon the Trustee, under this Indenture; 
  

 44 

 (d) whether or not therein provided, every provision of this Indenture relating to the conduct or
affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section; 
  
 (e) the Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to
payment) or notice effected by the Company or any paying agent or any records maintained by any co-registrar with respect to the Notes; 
  
 (f) if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee,
the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred; and 
  
 (g) the Trustee shall not be deemed to have knowledge of any Event of Default hereunder unless it shall have been notified in writing of such Event of
Default by the Company or the holders of at least 10% in aggregate principal amount of the Notes. 
  
 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 there is reasonable ground for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it. 
  
 Section 8.02. Reliance on Documents,
Opinions, Etc. Except as otherwise provided in Section 8.01: 
  
 (a) the Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document
(whether in its original or facsimile form) believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties; 
  
 (b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other
evidence in respect thereof be herein specifically prescribed); and any 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 own selection and any advice
or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 
  
 (d) the Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request, order or direction of 

  

 45 

 
any of the Noteholders pursuant to the provisions of this Indenture, unless such Noteholders shall have offered to the Trustee reasonable security or
indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby; 
  
 (e) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine
to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of
such inquiry or investigation; 
  
 (f) the Trustee may execute any
of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it
with due care hereunder; 
  
 (g) the Trustee shall not be liable
for any action taken, suffered or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
  
 (h) the rights, privileges, protections, immunities and benefits given to the
Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; 
  
 (i) the Trustee may request that the Company deliver an Officers’
Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an
Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; and 
  
 (j) any permissive right or authority granted to the Trustee shall not be construed as a mandatory duty. 
  
 Section 8.03. No Responsibility For Recitals, Etc. The recitals
contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of 

  

 46 

 
any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture. 
  
 Section 8.04. Trustee, Paying Agents, Conversion Agents or Registrar May
Own Notes. The Trustee, any paying agent, any conversion agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not Trustee, paying agent,
conversion agent or Note Registrar. 
  
 Section 8.05. Monies to
Be Held in Trust. Subject to the provisions of Section 13.04, all monies received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust
hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed in writing from time to time by the Company
and the Trustee. 
  
 Section 8.06. Compensation and Expenses of
Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of
law in regard to the compensation of a trustee of an express trust) as mutually agreed to from time to time in writing between the Company and the Trustee, and the Company will pay or reimburse the Trustee upon its request for all reasonable
expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons
not regularly in its employ) except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or willful misconduct. The Company also covenants to indemnify the Trustee and any predecessor Trustee (or
any officer, director or employee of the Trustee), in any capacity under this Indenture and its agents and any authenticating agent for, and to hold them harmless against, any and all loss, liability, damage, claim or expense including taxes (other
than taxes based on the income of the Trustee) incurred without negligence or willful misconduct on the part of the Trustee or such officers, directors, employees and agent or authenticating agent, as the case may be, and arising out of or in
connection with the acceptance or administration of this trust or in any other capacity hereunder, including the costs and expenses of defending themselves against any claim (whether asserted by the Company, any holder or any other Person) of
liability in the premises. The obligations of the Company under this Section 8.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a lien prior to that of the
Notes 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 Notes. The obligation of the Company under this Section shall survive the satisfaction and discharge
of this Indenture. 
  

 47 

 When the Trustee and its agents and any authenticating agent incur expenses or render services after an
Event of Default specified in Section 7.01(f) or (g) with respect to the Company occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

  
 Section 8.07. Officers’ Certificate As Evidence.
Except as otherwise provided in Section 8.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of bad faith or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an
Officers’ Certificate delivered to the Trustee. 
  
 Section
8.08. Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall (i) eliminate such interest within 90 days, (ii) apply to the Commission for
permission to continue as trustee or (iii) resign, in each case to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 
  
 Section 8.09. Eligibility of Trustee. There shall at all times be a Trustee hereunder which shall be a Person that is
eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000 (or if such Person is a member of a bank holding company system, its bank holding company shall have a combined capital and
surplus of at least $50,000,000). If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section
8.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
  
 Section 8.10. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company
and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the
resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any 

  

 48 

 
Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, 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 Section 8.08 after
written request therefor by the Company or by any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months; or 
  
 (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.09 and shall fail to resign after written
request therefor by the Company or by any such Noteholder; or 
  
 (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control
of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 
  
 then, in 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, 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 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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 of a successor trustee; provided that if no successor Trustee shall have been appointed and have accepted appointment
sixty (60) days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor
trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
  
 (c) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a
successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such
Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee. 
  

 49 

 (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of
the provisions of this Section 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.11. 
  
 (e) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.06 shall continue for the
benefit of the retiring Trustee. 
  
 Section 8.11. Acceptance
by Successor Trustee. Any successor trustee appointed as provided in Section 8.10 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder,
with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amount then due it pursuant to the provisions of
Section 8.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and all instruments in
writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a lien upon all property and funds held or collected by such trustee as such,
except for funds held in trust for the benefit of holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 8.06. 
  
 No successor trustee shall accept appointment as provided in this Section 8.11 unless, at the time of such acceptance, such successor trustee shall be
qualified under the provisions of Section 8.08 and be eligible under the provisions of Section 8.09. 
  
 Upon acceptance of appointment by a successor trustee as provided in this Section 8.11, the Company (or the former trustee, at the written direction of
the Company) shall mail or cause to be mailed notice of the succession of such trustee hereunder to the holders of Notes at their addresses as they shall appear on the Note Register. If the Company fails to mail such notice within ten (10) 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 8.12. Succession by Merger. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee (including any trust created by this
Indenture), shall be the successor to the Trustee hereunder without the execution 

  

 50 

 
or filing of any paper or any further act on the part of any of the parties hereto, provided that in the case of any corporation succeeding to all or
substantially all of the corporate trust business of the Trustee, such corporation shall be qualified under the provisions of Section 8.08 and eligible under the provisions of Section 8.09. 
  
 In case at the time such successor to the Trustee shall succeed to the trusts
created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such
predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or any authenticating agent appointed by such successor trustee may authenticate
such Notes in the name of the successor trustee; and in all such cases such certificates shall have the full force that is provided in the Notes or in this Indenture; provided that the right to adopt the certificate of authentication of any
predecessor Trustee or authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 
  
 Section 8.13. Preferential Collection of Claims. If and when the Trustee shall be or become a creditor of the Company
(or any other obligor upon the Notes), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of the claims against the Company (or any such other obligor). 
  
 Section 8.14. Trustee’s Application for Instructions from the
Company. Any application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the holders of the Notes under this
Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The
Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three (3) Business Days
after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the
Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 
  

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 ARTICLE 9 
 THE NOTEHOLDERS 
  
 Section 9.01. Action by Noteholders. Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate principal amount of the Notes may take any action (including the making of
any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the holders of such specified percentage have joined therein may be evidenced (a) by any
instrument or any number of instruments of similar tenor executed by Noteholders in person or by agent or proxy appointed in writing, or (b) by the record of the holders of Notes voting in favor thereof at any meeting of Noteholders duly called and
held in accordance with the provisions of Article 10, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Noteholders. Whenever the Company or the Trustee solicits the taking of any action by the
holders of the Notes, the Company or the Trustee may fix in advance of such solicitation, a date as the record date for determining holders entitled to take such action. The record date shall be not more than fifteen (15) days prior to the date of
commencement of solicitation of such action. 
  
 Section 9.02.
Proof of Execution by Noteholders. Subject to the provisions of Sections 8.01, 8.02 and 10.05, proof of the execution of any instrument by a Noteholder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules
and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the registry of such Notes or by a certificate of the Note Registrar. 
  
 The record of any Noteholders’ meeting shall be proved in the manner
provided in Section 10.06. 
  
 Section 9.03. Who Are Deemed
Absolute Owners. The Company, the Trustee, any paying agent, any conversion agent and any Note Registrar may deem the Person in whose name such Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner of
such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the
principal of and Interest on such Note, for conversion of such Note and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any conversion agent nor any Note Registrar shall be affected by any notice to the
contrary. All such payments so made to any holder for the time being, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for monies payable upon any such Note.

  
 Section 9.04. Company-owned Notes Disregarded. In
determining whether the holders of the requisite aggregate principal amount of Notes have 

  

 52 

 
concurred in any direction, consent, waiver or other action under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or
any Affiliate of the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction, consent, waiver or other action, only Notes which a Responsible Officer knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding for
the purposes of this Section 9.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Notes and that the pledgee is not the Company, any other obligor on the Notes or any Affiliate of the Company
or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee
promptly an Officers’ Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons, and, subject to Section 8.01, the Trustee shall be entitled to
accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. 
  
 Section 9.05. Revocation of Consents, Future Holders Bound. At any
time prior to (but not after) the evidencing to the Trustee, as provided in Section 9.01, of the taking of any action by the holders of the percentage in aggregate principal amount of the Notes specified in this Indenture in connection with such
action, any holder of a Note which is shown by the evidence to be included in the Notes the holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as
provided in Section 9.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the holder of any Note shall be conclusive and binding upon such holder and upon all future holders and owners of such Note and
of any Notes issued in exchange or substitution therefor, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor. 
  
 ARTICLE 10 
 MEETINGS OF NOTEHOLDERS 
  
 Section 10.01. Purpose of Meetings. A meeting of Noteholders may be called at any time and from time to time pursuant to the provisions of this
Article 10 for any of the following purposes: 
  
 (1) to give any notice to the Company or to the Trustee or to give any directions to the Trustee permitted under this Indenture, or to consent to the waiving of any Default or Event of Default hereunder and 

  

 53 

 
its consequences, or to take any other action authorized to be taken by Noteholders pursuant to any of the provisions of Article 7; 
  
 (2) to remove the Trustee and nominate a successor trustee
pursuant to the provisions of Article 8; 
  
 (3)
to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 11.02; or 
  
 (4) to take any other action authorized to be taken by or on behalf of the holders of any specified aggregate principal amount of the
Notes under any other provision of this Indenture or under applicable law. 
  
 Section 10.02. Call of Meetings by Trustee. The Trustee may at any time call a meeting of Noteholders to take any action specified in Section 10.01, to be held at such time and at such place as the Trustee
shall determine. Notice of every meeting of the Noteholders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 9.01,
shall be mailed to holders of Notes at their addresses as they shall appear on the Note Register. Such notice shall also be mailed to the Company. Such notices shall be mailed not less than twenty (20) nor more than ninety (90) days prior to the
date fixed for the meeting. 
  
 Any meeting of Noteholders shall
be valid without notice if the holders of all Notes then outstanding are present in person or by proxy or if notice is waived before or after the meeting by the holders of all Notes outstanding, and if the Company and the Trustee are either present
by duly authorized representatives or have, before or after the meeting, waived notice. 
  
 Section 10.03. Call of Meetings by Company or Noteholders. In case at any time the Company, pursuant to a resolution of its Board of Directors, or the holders of at least ten percent (10%) in aggregate
principal amount of the Notes then outstanding, shall have requested the Trustee to call a meeting of Noteholders, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have
mailed the notice of such meeting within twenty (20) days after receipt of such request, then the Company or such Noteholders may determine the time and the place for such meeting and may call such meeting to take any action authorized in Section
10.01, by mailing notice thereof as provided in Section 10.02. 
  
 Section 10.04. Qualifications for Voting. To be entitled to vote at any meeting of Noteholders a person shall (a) be a holder of one or more Notes on the record date pertaining to such meeting or (b) be a person appointed by an
instrument in writing as proxy by a holder of one or more Notes on the record date pertaining to such meeting. The only persons who shall be entitled to be present or to speak at any meeting of Noteholders shall be the persons entitled to 

  

 54 

 
vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

  
 Section 10.05. Regulations. Notwithstanding any other
provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Noteholders, in regard to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment
and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. 
  
 The Trustee shall, by an instrument in writing, appoint a temporary chairman
of the meeting, unless the meeting shall have been called by the Company or by Noteholders as provided in Section 10.03, in which case the Company or the Noteholders calling the meeting, as the case may be, shall in like manner appoint a temporary
chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the holders of a majority in principal amount of the Notes represented at the meeting and entitled to vote at the meeting. 
  
 Subject to the provisions of Section 9.04, at any meeting each Noteholder or
proxyholder shall be entitled to one vote for each $1,000 principal amount of Notes held or represented by him; provided that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by
the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Notes held by him or instruments in writing as aforesaid duly designating him as the proxy to vote on behalf of other
Noteholders. Any meeting of Noteholders duly called pursuant to the provisions of Section 10.02 or 10.03 may be adjourned from time to time by the holders of a majority of the aggregate principal amount of Notes represented at the meeting, whether
or not constituting a quorum, and the meeting may be held as so adjourned without further notice. 
  
 Section 10.06. Voting. The vote upon any resolution submitted to any meeting of Noteholders shall be by written ballot on which shall be subscribed
the signatures of the holders of Notes or of their representatives by proxy and the outstanding principal amount of the Notes held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count
all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each
meeting of Noteholders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 10.02. The record shall show the principal amount of the Notes voting in 

  

 55 

 
favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one
of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 
  
 Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
  
 Section 10.07. No Delay of Rights by Meeting. Nothing contained in
this Article 10 shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Noteholders or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or
rights conferred upon or reserved to the Trustee or to the Noteholders under any of the provisions of this Indenture or of the Notes. 
  
 ARTICLE 11 
 SUPPLEMENTAL
INDENTURES 
  
 Section 11.01. Supplemental
Indentures Without Consent of Noteholders. The Company, when authorized by the resolutions of the Board of Directors, and the Trustee may, from time to time, and at any time enter into an indenture or indentures supplemental hereto for one or
more of the following purposes: 
  
 (a) make provision with
respect to the conversion rights of the holders of Notes pursuant to the requirements of Section 15.10 and the repurchase obligations of the Company pursuant to the requirements of Section 3.05(e); 
  
 (b) to convey, transfer, assign, mortgage or pledge to the Trustee as
security for the Notes, any property or assets; 
  
 (c) to
evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company pursuant to Article 12; 
  
 (d) to add to the covenants of the Company such further covenants,
restrictions or conditions as the Board of Directors and the Trustee shall consider to be for the benefit of the holders of Notes, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants,
restrictions or conditions a default or an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided that in respect of any such additional covenant, restriction
or condition, such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate 

  

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enforcement upon such default or may limit the remedies available to the Trustee upon such default; 
  
 (e) to provide for the issuance under this Indenture of Notes in coupon form
(including Notes registrable as to principal only) and to provide for exchangeability of such Notes with the Notes issued hereunder in fully registered form and to make all appropriate changes for such purpose; 
  
 (f) to cure any ambiguity or to correct or supplement any provision contained
herein or in any supplemental indenture that may be defective or inconsistent with any other provision contained herein or in any supplemental indenture, or to make such other provisions in regard to matters or questions arising under this Indenture
that shall not materially adversely affect the interests of the holders of the Notes; 
  
 (g) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Notes; 
  
 (h) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the qualifications of this Indenture
under the Trust Indenture Act, or under any similar federal statute hereafter enacted; or 
  
 (i) to increase, from time to time, the per annum interest rate on the Notes for any period. 
  
 Upon the written request of the Company, accompanied by a copy of the resolutions of the Board of Directors certified by its Secretary or Assistant
Secretary authorizing the execution of any supplemental indenture, the Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations that may be
therein contained and to accept the conveyance, transfer and assignment of any property thereunder; provided that the Trustee shall not be obligated to, but may in its discretion, enter into any supplemental indenture that affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  
 Any supplemental indenture authorized by the provisions of this Section 11.01 may be executed by the Company and the Trustee without the consent of the holders of any of the Notes at the time outstanding,
notwithstanding any of the provisions of Section 11.02. 
  
 Section 11.02. Supplemental Indenture with Consent of Noteholders. With the consent (evidenced as provided in Article 9) of the holders of at least a majority in aggregate principal amount of the Notes at the time outstanding
determined in accordance with Section 9.04, the Company, when authorized by the resolutions of the Board of Directors, and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental hereto for the 

  

 57 

 
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or any supplemental indenture or of
modifying in any manner the rights of the holders of the Notes; provided that no such supplemental indenture shall: 
  
 (i) extend the fixed maturity of any Note; 
  
 (ii) reduce the rate or extend the time of payment of Interest on any Note; 
  
 (iii) reduce the principal amount of any Note; 
  
 (iv) reduce any amount payable on redemption or repurchase
of any Note; 
  
 (v) after the occurrence of a
Designated Event, change the obligation of the Company to repurchase any Note upon the happening of a Designated Event in a manner adverse to the holders of Notes; 
  
 (vi) impair the right of any Noteholder to institute suit for the payment thereof; 
  
 (vii) make the principal or premium, if any, of any Note or
Interest thereon payable in any coin or currency other than that provided in the Notes; 
  
 (viii) reduce the number of shares of Common Stock or the amount of any other property receivable by a Noteholder upon conversion subject
to the terms set forth herein, including Section 15.03, 15.04, 15.09 and 15.10; 
  
 (ix) change any obligation of the Company to maintain an office or agency in the places and for the purposes set forth in Section 5.02 or
reduce the quorum or voting requirements set forth in Article 10; or 
  
 (x) reduce the percentage of Notes the holders of which are required to provide any waiver under Section 7.07 or to consent to any such supplemental indenture; 
  
 in each case, without the consent of the holder of each Note so affected; 
  
 and provided further that prior to the occurrence of a Designated Event, no such
supplemental indenture shall change the obligation of the Company to repurchase any Note upon the happening of a Designated Event in a manner adverse to the holders of Notes without the consent of the holders of at least two-thirds of the aggregate
principal amount of the Notes at that time outstanding determined in accordance with Section 9.04. 
  

 58 

 Upon the written request of the Company, accompanied by a copy of the resolutions of the Board of
Directors certified by its Secretary or Assistant Secretary authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Noteholders as aforesaid, the Trustee shall join with the
Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not
be obligated to, enter into such supplemental indenture. 
  
 It
shall not be necessary for the consent of the Noteholders under this Section 11.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
  
 Section 11.03. Effect of Supplemental Indenture. Any supplemental
indenture executed pursuant to the provisions of this Article 11 shall comply with the Trust Indenture Act, as then in effect, provided that this Section 11.03 shall not require such supplemental indenture or the Trustee to be qualified under
the Trust Indenture Act prior to the time such qualification is in fact required under the terms of the Trust Indenture Act or the Indenture has been qualified under the Trust Indenture Act, nor shall it constitute any admission or acknowledgment by
any party to such supplemental indenture that any such qualification is required prior to the time such qualification is in fact required under the terms of the Trust Indenture Act or the Indenture has been qualified under the Trust Indenture Act.
Upon the execution of any supplemental indenture pursuant to the provisions of this Article 11, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Company and the holders of Notes shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments and all the terms and
conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
  
 Section 11.04. Notation on Notes. Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of
this Article 11 may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee
and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may, at the Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly
appointed by the Trustee pursuant to Section 16.11) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding. 
  

 59 

 Section 11.05. Evidence of Compliance of Supplemental Indenture To Be Furnished To Trustee. Prior
to entering into any supplemental indenture, the Trustee shall be provided with an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of
this Article 11 and is otherwise authorized or permitted by this Indenture. 
  
 ARTICLE 12 
 CONSOLIDATION, MERGER, SALE,
CONVEYANCE AND LEASE 
  
 Section 12.01. Company May Consolidate On Certain Terms. Subject to the provisions of Section 12.02, the Company shall not consolidate or merge with or into any other Person or Persons (whether or not affiliated with the Company),
nor shall the Company or its successor or successors be a party or parties to successive consolidations or mergers, nor shall the Company sell, convey, transfer or lease the property and assets of the Company substantially as an entirety, to any
other Person (whether or not affiliated with the Company), unless: (i) the Company is the surviving Person, or the resulting, surviving or transferee Person is a corporation organized and existing under the laws of the United States of America, any
state thereof or the District of Columbia; (ii) upon any such consolidation, merger, sale, conveyance, transfer or lease, the due and punctual payment of the principal of and Interest on all of the Notes, according to their tenor and the due and
punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by the Company, shall be expressly assumed, by supplemental indenture satisfactory in form and substance to the Trustee, executed and
delivered to the Trustee by the Person (if other than the Company and other than a Person who is a successor to the Company’s obligations hereunder and under the Notes by operation of law) formed by such consolidation, or into which the Company
shall have been merged, or by the Person that shall have acquired or leased such property, and such supplemental indenture shall provide for the applicable conversion rights set forth in Section 15.10; and (iii) immediately after giving effect to
the transaction described above, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing. 
  
 Section 12.02. Successor To Be Substituted. In case of any such consolidation, merger, sale, conveyance, transfer or
lease and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and Interest on all of the Notes and
the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company, such successor Person shall succeed to and be substituted for the Company, with the same effect as if it had been named herein
as the party of this first part. Such successor Person thereupon may cause to be signed, and may issue either in its own name or in the name of GSI Commerce, 

  

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Inc. any or all of the Notes, issuable hereunder that theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order
of such successor Person instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that
previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and any Notes that such successor Person thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the
Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of
the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer (other than a lease), the Person named as the “Company” in the first paragraph of this Indenture or any successor that shall
thereafter have become such in the manner prescribed in this Article 12 may be dissolved, wound up and liquidated at any time thereafter and such Person shall be released from its liabilities as obligor and maker of the Notes and from its
obligations under this Indenture. 
  
 In case of any such
consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 
  
 Section 12.03. Opinion of Counsel To Be Given to Trustee. The Trustee
shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or lease and any such assumption complies with the provisions of this Article 12.

  
 ARTICLE 13 
 SATISFACTION AND DISCHARGE OF INDENTURE 
  
 Section 13.01. Discharge of Indenture. When (a) the Company shall
deliver to the Trustee for cancellation all Notes theretofore authenticated (other than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not
theretofore canceled, or (b) all the Notes not theretofore canceled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption
within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit with the Trustee, in trust, funds sufficient to pay at maturity or upon redemption of all of the Notes (other than
any Notes that shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) not theretofore canceled or delivered to the Trustee for cancellation, including
principal and Interest due or to become due to such date of maturity or redemption date, as the case may be, accompanied by a 

  

 61 

 
verification report, as to the sufficiency of the deposited amount, from an independent certified accountant or other financial professional satisfactory to
the Trustee, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then this Indenture shall cease to be of further effect (except as to (i) remaining rights of registration of transfer, substitution
and exchange and conversion of Notes, (ii) rights hereunder of Noteholders to receive payments of principal of and Interest on, the Notes and the other rights, duties and obligations of Noteholders, as beneficiaries hereof with respect to the
amounts, if any, so deposited with the Trustee and (iii) the rights, obligations and immunities of the Trustee hereunder), and the Trustee, on written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as
required by Section 16.05 and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture; the Company, however, hereby agrees to reimburse the Trustee for any costs or
expenses thereafter reasonably and properly incurred by the Trustee and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture or the Notes. 
  
 Section 13.02. Deposited Monies To Be Held in Trust by Trustee.
Subject to Section 13.04, all monies deposited with the Trustee pursuant to Section 13.01, shall be held in trust for the sole benefit of the Noteholders, and such monies shall be applied by the Trustee to the payment, either directly or through
any paying agent (including the Company if acting as its own paying agent), to the holders of the particular Notes for the payment or redemption of which such monies have been deposited with the Trustee, of all sums due and to become due thereon for
principal and Interest. 
  
 Section 13.03. Paying Agent To
Repay Monies Held. Upon the satisfaction and discharge of this Indenture, all monies then held by any paying agent of the Notes (other than the Trustee) shall, upon written request of the Company, be repaid to it or paid to the Trustee, and
thereupon such paying agent shall be released from all further liability with respect to such monies. 
  
 Section 13.04. Return of Unclaimed Monies. Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for
payment of the principal or Interest on Notes and not applied but remaining unclaimed by the holders of Notes for two years after the date upon which the principal of or Interest on such Notes, as the case may be, shall have become due and payable,
shall be repaid to the Company by the Trustee on demand and all liability of the Trustee shall thereupon cease with respect to such monies; and the holder of any of the Notes shall thereafter look only to the Company for any payment that such holder
may be entitled to collect unless an applicable abandoned property law designates another Person. 
  
 Section 13.05. Reinstatement. If the Trustee or the paying agent is unable to apply any money in accordance with Section 13.02 by reason of any
order or 

  

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judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this
Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 13.01 until such time as the Trustee or the paying agent is permitted to apply all such money in accordance with Section 13.02;
provided that if the Company makes any payment of Interest on or principal of any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the holders of such Notes to receive such payment from the
money held by the Trustee or paying agent. 
  
 ARTICLE 14

 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS
AND DIRECTORS 
  
 Section 14.01.
Indenture and Notes Solely Corporate Obligations. No recourse for the payment of the principal of or Interest on any Note, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant
or agreement of the Company in this Indenture or in any supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, officer, director
or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the
Notes. 
  
 ARTICLE 15 
 CONVERSION OF NOTES 
  

Section 15.01. Right To Convert. (a) Subject to and upon compliance with the provisions of this Indenture the holder of any Note shall have the
right, at such holder’s option, to convert the principal amount of the Note, or any portion of such principal amount which is a multiple of $1,000, into fully paid and non-assessable shares of Common Stock (as such shares shall then be
constituted) (or into cash or a combination of cash and shares of Common Stock if the Company so elects) at the Conversion Rate in effect at such time, by surrender of the Note so to be converted in whole or in part, together with any required
funds, under the circumstances described in this Section 15.01 and in the manner provided in Section 15.02. Prior to [    ], 2012, the Notes shall be convertible only upon the occurrence of one of the following events:

  
 (i) during the five Business Day period
immediately following any five consecutive Trading Day period (the “Measurement Period”) in 

  

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which the Trading Price per $1,000 principal amount of the Notes for each day of such Measurement Period was less than 103% of the product of the Closing
Sale Price of the Common Stock and the number of shares of Common Stock issuable upon conversion of $1,000 principal amount of the Notes; 
  
 (ii) if such Note has been called for redemption, at any time on or after the date the notice of redemption has been given until the close
of business on the Business Day immediately preceding the redemption date; or 
  
 (iii) as provided in paragraph (b) of this Section 15.01. 
  
 Whenever the Notes shall become convertible pursuant to this Section 15.01, the Company or, at the Company’s request, the Trustee in the name and at the expense of the Company, shall notify the holders of the
event triggering such convertibility in the manner provided in Section 16.03, and the Company shall also publicly announce such information and publish it on the Company’s web site. If, at any point after the condition in clause (i) above has
been met, the Trading Price per $1,000 principal amount of Notes is greater than 103% of the product of the Closing Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify the holders of Notes. Any notice so
given shall be conclusively presumed to have been duly given, whether or not the holder receives such notice. 
  
 The Trustee (or other conversion agent appointed by the Company) shall have no obligation to determine the Trading Price under this Section 15.01 unless
the Company has requested such a determination; and the Company shall have no obligation to make such request unless a holder provides it with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than 103% of
the product of the Closing Sale Price of the Common Stock and the Conversion Rate. If such evidence is provided, the Company shall instruct the Trustee (or other conversion agent) to determine the Trading Price of the Notes beginning on the next
Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 103% of the product of the Closing Sale Price of the Common Stock and the Conversion Rate; provided that
the Trustee shall be under no duty or obligation to make the calculations described in Section 15.01(a)(i) hereof or to determine whether the Notes are convertible pursuant to such section. For the avoidance of doubt, the Company shall make the
calculations described in Section 15.01(a)(i), using the Trading Price provided by the Trustee. 
  
 The Trustee shall be entitled at its sole discretion to consult with the Company and to request the assistance of the Company in connection with the
Trustee’s duties and obligations pursuant to Section 15.01(a)(i) hereof (including without limitation the calculation or determination of the Conversion Rate, the Closing Sale Price of the Common Stock and the Trading Price), and the 

  

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Company agrees, if requested by the Trustee, to cooperate with, and provide assistance to, the Trustee in carrying out its duties under this Section 15.01;
provided that nothing herein shall be construed to relieve the Trustee of its duties pursuant to Section 15.01(a)(i) hereof. 
  
 (b) In addition, if: 
  
 (i) (A) the Company distributes to all holders of its Common Stock rights or warrants entitling them (for a period expiring within 45 days
of the record date for the determination of the stockholders entitled to receive such issuance) to subscribe for or purchase shares of Common Stock, at a price per share less than the average of the Closing Sale Price of the Common Stock for the ten
Trading Days immediately preceding, but not including, the date such distribution is first publicly announced by the Company, or (B) the Company distributes to all holders of its Common Stock, cash or other assets, debt securities or rights to
purchase its securities, where the Fair Market Value of such distribution per share of Common Stock exceeds 10% of the Closing Sale Price of the Common Stock on the day preceding the announcement date for such distribution, then, in either case, the
Notes may be surrendered for conversion at any time on and after the date that the Company gives notice to the holders of such distribution, which shall be not less than 20 days prior to the Ex-Dividend Time for such distribution, until the earlier
of the close of business on the Business Day immediately preceding, but not including, the Ex-Dividend Time or the date the Company publicly announces that such distribution will not take place; provided that if the holder will otherwise
participate in such distribution without conversion, a holder of a Note will not have the ability to convert pursuant to this Section 15.01(b); or 
  
 (ii) the Company consolidates with or merges with or into another Person or conveys, transfers, sells, leases or otherwise disposes of all
or substantially all of its properties and assets in each case pursuant to which the Company’s Common Stock is converted into cash, securities or other property, then the Notes may be surrendered for conversion at any time from and after the
date fifteen (15) days prior to the anticipated effective date of the transaction and ending on and including the date fifteen (15) days after the consummation of the transaction. If such transaction constitutes a Designated Event, the Notes may be
surrendered for conversion until the corresponding Designated Event Purchase Date. In such an event, a holder of Notes may elect to exercise its option to require the Company to repurchase all or a portion of such holder’s Notes pursuant to
Section 3.05. The Board of Directors shall determine the anticipated effective date of the transaction, and such determination shall be conclusive and binding on the holders and shall be publicly announced by the Company and posted on its web site
not later than two Business Days prior to such fifteenth day. If Notes are not surrendered pursuant to 

  

 65 

 
this paragraph for conversion, on the date that is 16 days from the effective date of the transaction, the right to convert the Notes into Common Stock shall
be modified as set forth in Section 15.10. 
  
 “Ex-Dividend Time” means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common
Stock are then traded without the right to receive such distribution. 
  
 (c) Subject to and upon compliance with the provisions of this Indenture, on and after [             ], 2012 and prior to the close of business on the Business Day immediately
preceding [             ], 2025, subject to prior redemption or repurchase of the Notes, the holder of any Note shall have the right, at such holder’s option, to convert the principal
amount of the Note, or any portion of such principal amount which is a multiple of $1,000, into fully paid and non-assessable shares of Common Stock (as such shares shall then be constituted) (or into cash or a combination of cash and shares of
Common Stock if the Company so elects) at the Conversion Rate in effect at such time, by surrender of the Note so to be converted in whole or in part, together with any required funds, in the manner provided in Section 15.02. 
  
 (d) A Note in respect of which a holder is electing to exercise its option to
require the Company to repurchase such holder’s Notes upon a Designated Event pursuant to Section 3.05, or at the option of the holder pursuant to Section 3.06, may be converted only if such holder withdraws its election in accordance with
Section 3.05(c) or Section 3.08, respectively. A holder of Notes is not entitled to any rights of a holder of Common Stock until such holder has converted his Notes to Common Stock, and only to the extent such Notes are deemed to have been converted
to Common Stock under this Article 15. 
  
 Section 15.02.
Exercise of Conversion Privilege; Issuance of Common Stock on Conversion; No Adjustment for Interest or Dividends. In order to exercise the conversion privilege with respect to any Note in certificated form, the Company must receive at the
office or agency of the Company maintained for that purpose or, at the option of such holder, the Corporate Trust Office, such Note with the original or facsimile of the form entitled “Conversion Notice” on the reverse thereof, duly
completed and manually signed, together with such Notes duly endorsed for transfer, accompanied by the funds, if any, required by this Section 15.02. Such notice shall also state the name or names (with address or addresses) in which the certificate
or certificates for shares of Common Stock (if any) which shall be issuable on such conversion shall be issued, and shall be accompanied by transfer or similar taxes, if required pursuant to Section 15.11. 
  
 In order to exercise the conversion privilege with respect to any interest in
a Global Note, the beneficial holder must complete, or cause to be completed, the appropriate instruction form for conversion pursuant to the Depositary’s book-entry conversion program, deliver, or cause to be delivered, by book-entry 

  

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delivery an interest in such Global Note, furnish appropriate endorsements and transfer documents if required by the Company or the Trustee or conversion
agent, and pay the funds, if any, required by this Section 15.02 and any transfer or similar taxes if required pursuant to Section 15.11. 
  
 As promptly as practicable after satisfaction of the requirements for conversion set forth above and in accordance with the time periods set forth in
Section 15.03, the Company shall issue and shall deliver to such Noteholder at the office or agency maintained by the Company for such purpose pursuant to Section 5.02, a certificate or certificates for the number of full shares of Common Stock (if
any) issuable upon the conversion of such Note or portion thereof as determined by the Company in accordance with the provisions of this Article 15 and a check or cash in respect of (i) any portion of the Conversion Value to be paid in cash,
calculated by the Company in accordance with the definition thereof and (ii) any fractional interest in respect of a share of Common Stock arising upon such conversion, calculated by the Company as provided in Section 15.05. In case any Note of a
denomination greater than $1,000 shall be surrendered for partial conversion, and subject to Section 2.03, the Company shall execute and the Trustee shall authenticate and deliver to the holder of the Note so surrendered, without charge to him, a
new Note or Notes in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Note. 
  
 Each conversion shall be deemed to have been effected as to any such Note (or portion thereof) on the date (the “Conversion Date”) on
which the requirements set forth above in this Section 15.02 have been satisfied as to such Note (or portion thereof), and the Person in whose name any certificate or certificates for shares of Common Stock shall be issuable upon such conversion
shall be deemed to have become on said date the holder of record of the shares represented thereby; provided that any such surrender on any date when the stock transfer books of the Company shall be closed shall constitute the Person in whose
name the certificates are to be issued as the record holder thereof for all purposes on the next succeeding day on which such stock transfer books are open, but such conversion shall be at the Conversion Rate in effect on the date upon which such
Note shall be surrendered. 
  
 Any Note or portion thereof
surrendered for conversion during the period from the close of business on the record date for any interest payment date to the close of business on the Business Day preceding the following interest payment date shall be accompanied by payment, in
immediately available funds or other funds acceptable to the Company, of an amount equal to the Interest otherwise payable on such interest payment date on the principal amount being converted; provided that no such payment need be made (1)
if the Company has specified a redemption date that is after a record date and on or prior to the next succeeding interest payment date, (2) if the Company has specified a Designed Event Repurchase Date that is after a record date and on or prior to
the next succeeding interest payment date or (3) to the extent of any overdue Interest, if any overdue 

  

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Interest exists at the time of conversion with respect to such Note. Except as provided above in this Section 15.02, no payment or other adjustment shall be
made for Interest accrued on any Note converted or for dividends on any shares issued upon the conversion of such Note as provided in this Article 15. 
  
 Upon the conversion of an interest in a Global Note, the Trustee (or other conversion agent appointed by the Company), or the Custodian at the direction
of the Trustee (or other conversion agent appointed by the Company), 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 conversions of
Notes effected through any conversion agent other than the Trustee. 
  
 Upon the conversion of a Note, that portion of the accrued but unpaid Interest to the Conversion Date, with respect to the converted Note shall not be cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to
the holder thereof through delivery of the Common Stock, cash or combination of cash and Common Stock (together with the cash payment, if any in lieu of fractional shares) in exchange for the Note being converted pursuant to the provisions hereof;
and the Fair Market Value of such shares of Common Stock, cash or combination of cash and Common Stock (together with any such cash payment in lieu of fractional shares) shall be treated as issued, to the extent thereof, first in exchange for and in
satisfaction of the Company’s obligation to pay the principal amount of the converted Note, the accrued but unpaid Interest through the Conversion Date and the balance, if any, of such Fair Market Value of such Common Stock (and any such cash
payment) shall be treated as issued in exchange for and in satisfaction of the right to convert the Note being converted pursuant to the provisions hereof. 
  
 Section 15.03. Settlement upon Conversion. (a) Except to the extent that the Company has irrevocably elected Net Share Settlement pursuant to
Section 15.04, the Company may satisfy all or any portion of the Company’s obligation to deliver shares of Common Stock upon conversion of Notes (the “Conversion Obligation”) in cash or in any combination of cash and shares of
Common Stock selected by the Company, in accordance with clause (b) and (c) of this Section 15.03. 
  
 (b) Except to the extent that the Company has irrevocably elected Net Share Settlement pursuant to Section 15.04, the following procedures will apply:

  
 If the Company chooses to satisfy all or any portion of the
Conversion Obligation in cash pursuant to clause (a) of this Section 15.03, the Company will notify the holder through the Trustee of the method chosen by the Company to satisfy the Conversion Obligation (such notice, the “Settlement Method
Election Notice”) at any time on or before the date that is two Trading Days following the Conversion Date (the “Settlement Method Notice Period”). If the Company timely elects to pay cash (other than cash in lieu of
fractional shares) for any 

  

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portion of the shares of Common Stock otherwise issuable to such holder, the Conversion Notice may be retracted by the holder at any time during the two
Trading Day period (the “Conversion Retraction Period”) beginning on the Trading Day after the final day of the Settlement Method Notice Period; provided that no such retraction can be made (and a Conversion Notice shall be
irrevocable) if the Company has irrevocably elected Net Share Settlement upon conversion pursuant to Section 15.04 before such holder delivers the Conversion Notice. Settlement amounts will be computed as follows: 
  
 (i) If the Company elects to satisfy the entire Conversion
Obligation in shares of Common Stock, the Company will deliver to holders surrendering Notes for conversion a number of shares of Common Stock equal to the product of (x) the number of $1,000 principal amount of Notes surrendered for conversion by
such holder multiplied by (y) the Conversion Rate (provided that the Company will deliver cash in lieu of fractional shares in accordance with Section 15.05); 
  

(ii) If the Company elects to satisfy the entire Conversion Obligation in cash, the Company will deliver to holders surrendering Notes
for conversion cash in an amount equal to the sum of the Daily Conversion Value Amounts for each of the Trading Days in the relevant Cash Settlement Averaging Period (such sum, the “Conversion Value”); and 
  
 (iii) If the Company elects to satisfy in cash a fixed
portion of the Conversion Obligation other than the entire obligation, or a percentage of the Conversion Obligation other than 100%, the Company will deliver to holders surrendering Notes for conversion: 
  
 (A) an amount in cash equal to either (1) the dollar amount
per $1,000 principal amount of Notes to be converted that is specified in the Settlement Method Election Notice (the “Specified Dollar Amount”) or (2) the percentage (other than 100%) of the Conversion Obligation specified in the
Settlement Method Election Notice (the “Specified Percentage”) multiplied by the amount of cash that would be payable pursuant to Section 15.03(b)(ii); and 
  
 (B) a number of whole shares of Common Stock per $1,000 principal amount of Notes to be converted equal to
the sum of the Daily Share Amounts for each of the Trading Days in the relevant Cash Settlement Averaging Period (provided that the Company will deliver cash in lieu of fractional shares in accordance with Section 15.05). 
  
 Settlement pursuant to Section 15.03(a)(i) above will occur as soon as practicable after the
third Trading Day following the Conversion Date, and settlement 

  

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pursuant to Sections 15.03(a)(ii) and 15.03(a)(iii) will occur on the third Trading Day following the final Trading Day of the relevant Cash Settlement
Averaging Period. 
  
 (c) A Conversion Notice may be retracted
during the applicable Conversion Retraction Period by means of a written notice of retraction delivered to the office of the Trustee (or other paying agent appointed by the Company) in accordance with the Settlement Method Election Notice at any
time prior to the close of business of the final day of the Conversion Retraction Period, specifying: 
  
 (i) the certificate number, if any, of the Note in respect of which such retraction notice is being submitted, or the appropriate
Depositary information if the Note in respect of which such retraction notice is being submitted is represented by a Global Note, 
  
 (ii) the principal amount of the Note with respect to which such retraction notice of is being submitted, and 
  
 (iii) the principal amount, if any, of such Note which
remains subject to the original Conversion Notice and which has been or will be delivered for conversion. 
  
 (d) For purposes of this Section 15.03 and Section 15.04, the following terms shall have the meaning indicated: 
  
 (i) “Cash Settlement Averaging Period”
shall mean, in respect of a Conversion Date, the twenty consecutive Trading Day period beginning on the Trading Day following the Retraction Date (or, in the case that the Company has irrevocably elected Net Share Settlement upon conversion pursuant
to Section 15.04 before a holder delivered its conversion notice, on the Trading Day following the Conversion Date), which period may extend beyond the redemption date or maturity date of the Notes. 
  
 (ii) “Conversion Value” per $1,000
principal amount of Notes will be an amount equal to the sum of the daily Conversion Value Amounts for each of the trading days in the Cash Settlement Averaging Period. 
  
 (iii) “Daily Conversion Value Amount” shall mean, for each Trading Day of the Cash
Settlement Averaging Period and for each $1,000 principal amount of Notes, the amount equal to (x) the product of (A) the Closing Sale Price of the Common Stock on such Trading Day multiplied by (B) the Conversion Rate in effect on such Trading Day
divided by (y) 20. 
  
 (iv) “Daily Share
Amount” shall mean, for each Trading Day of the Cash Settlement Averaging Period and for each $1,000 principal 

  

 70 

 
amount of Notes, a number of shares (but in no event less than zero) determined by the following formula: 
  
 Conversion Rate in effect on such Trading Day x (100% - Y%) 

20 
  
 where Y% is equal to (i) in the case where the Settlement Election Notice sets forth a Specified Percentage pursuant to paragraph (b)(iii)(A)(2) of this Section 15.03, such Specified Percentage, or (ii) in the case
where the Settlement Election Notice sets forth a Specified Dollar Amount pursuant to paragraph (b)(iii)(A)(1) of this Section 15.03, a percentage equal to (x) the result of (A) such Specified Dollar Amount divided by (B) the Conversion Value
multiplied by (y) 100. 
  
 The Daily Share Amount for any Trading
Day during any Cash Settlement Averaging Period shall be subject to adjustment by the Company in the event that an event requiring an adjustment to the Conversion Rate occurs subsequent to such Trading Day but prior to the date that the Daily Share
Amount for such Trading Day is delivered to holders pursuant to this Section 15.03. 
  
 Section 15.04. Irrevocable Election by Company of Net Share Settlement Upon Conversion. (a) At any time on or prior to [             ], 2025, the
Company may irrevocably elect, in its sole discretion without the consent of the holders of the Notes, by notice to the Trustee and the holders of the Notes, to satisfy its Conversion Obligation with respect to the principal amount of the Notes to
be converted after the date of such election with a combination of cash and shares of Common Stock as set forth in paragraph (b) below (“Net Share Settlement”). If the Company makes such election, it will notify the Trustee and the
holders of Notes at their addresses shown in the register of the registrar. 
  
 (b) For each $1,000 principal amount of Notes surrendered for conversion, holders will receive a settlement amount, which will be computed as follows: 
  
 (i) where the relevant Conversion Value is less than or equal to $1,000, the settlement amount shall be an
amount in cash equal to such Conversion Value; or 
  
 (ii) where the Conversion Value is greater than $1,000, the settlement amount shall be computed as if the Company had elected to settle a portion of the Conversion Obligation with a combination of cash and Common Stock pursuant to Section
15.03(b)(iii)(A)(1) with a Specified Dollar Amount equal to $1,000. 
  
 Section 15.05. Cash Payments in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip certificates representing fractional shares shall be issued upon conversion of Notes. If more than one Note shall be 

  

 71 

 
surrendered for conversion at one time by the same holder, the number of full shares that shall be issuable upon conversion shall be computed on the basis of
the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Note or Notes, the Company shall make an
adjustment and payment therefor in cash at the current market price thereof to the holder of Notes. The current market price of a share of Common Stock shall be the Closing Sale Price of the Common Stock on the last Trading Day immediately preceding
the Conversion Date. 
  
 Section 15.06. Conversion Rate.
Each $1,000 principal amount of the Notes shall be convertible into the number of shares of Common Stock specified in the form of Note (herein called the “Conversion Rate”) attached as Exhibit A hereto, subject to adjustment as
provided in this Article 15. 
  
 Section 15.07. Adjustment of
Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company as follows: 
  
 (a) In case the Company shall hereafter pay a dividend or make a distribution to all holders of the outstanding Common Stock in shares of Common Stock,
the Conversion Rate shall be increased so that the same shall equal the rate determined by multiplying the Conversion Rate in effect at the opening of business on the date following the date fixed for the determination of stockholders entitled to
receive such dividend or other distribution by a fraction, 
  
 (i) the numerator of which shall be the sum of the number of shares of Common Stock outstanding at the close of business on the date fixed for the determination of stockholders entitled to receive such dividend or
other distribution plus the total number of shares of Common Stock constituting such dividend or other distribution; and 
  
 (ii) the denominator of which shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for
such determination, 
  
 such increase to become effective immediately after the
opening of business on the day following the date fixed for such determination. For the purpose of this paragraph (a), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company. The
Company will not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. If any dividend or distribution of the type described in this Section 15.07(a) is declared but not so paid or made, the
Conversion Rate shall again be adjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
  
 (b) In case the Company shall issue rights or warrants to all holders of its outstanding shares of Common Stock entitling them (for a period expiring

  

 72 

 
within forty-five (45) days after the date fixed for determination of stockholders entitled to receive such rights or warrants) to subscribe for or purchase
shares of Common Stock at a price per share less than the average Closing Sale Price of the Common Stock for the 10 Trading Days immediately preceding the date such distribution is first publicly announced, the Conversion Rate shall be increased so
that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the date fixed for determination of stockholders entitled to receive such rights or warrants by a fraction, 
  
 (i) the numerator of which shall be the number of shares of
Common Stock outstanding on the date fixed for determination of stockholders entitled to receive such rights or warrants plus the total number of additional shares of Common Stock offered for subscription or purchase, and 
  
 (ii) the denominator of which shall be the sum of the number
of shares of Common Stock outstanding at the close of business on the date fixed for determination of stockholders entitled to receive such rights or warrants plus the number of shares that the aggregate offering price of the total number of shares
so offered would purchase at a price equal to the average of the Closing Sale Prices of the Common Stock for the 10 Trading Days immediately preceding the date such distribution is first publicly announced by the Company, 
  
 such adjustment shall be successively made whenever any such rights or warrants are issued,
and shall become effective immediately after the opening of business on the day following the date fixed for determination of stockholders entitled to receive such rights or warrants. To the extent that shares of Common Stock are not delivered after
the expiration of such rights or warrants, the Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of delivery of only
the number of shares of Common Stock actually delivered. If such rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such date fixed for the determination of
stockholders entitled to receive such rights or warrants had not been fixed. In determining whether any rights or warrants entitle the holders to subscribe for or purchase shares of Common Stock at a price less than the average of the Closing Sale
Prices of the Common Stock for the 10 Trading Days immediately preceding the date such distribution is first publicly announced by the Company, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into
account any consideration received by the Company for such rights or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 
  
 (c) In case outstanding shares of Common Stock shall be subdivided into a
greater number of shares of Common Stock, the Conversion Rate in effect 

  

 73 

 
at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and conversely, in
case outstanding shares of Common Stock shall be combined into a smaller number of shares of Common Stock, the Conversion Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be
proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 
  
 (d) In case the Company shall, by dividend or otherwise, distribute to all
holders of its Common Stock shares of any class of capital stock of the Company or evidences of its indebtedness or assets (including securities, but excluding any rights or warrants referred to in Section 15.07(b), and excluding any dividend or
distribution (x) paid exclusively in cash or (y) referred to in Section 15.07(a) (any of the foregoing hereinafter in this Section 15.07(d)) called the “Securities”)), then, in each such case (unless the Company elects to reserve
such Securities for distribution to the Noteholders upon the conversion of the Notes so that any such holder converting Notes will receive upon such conversion, in addition to the shares of Common Stock to which such holder is entitled, the amount
and kind of such Securities which such holder would have received if such holder had converted its Notes into Common Stock immediately prior to the Record Date for such distribution of the Securities) the Conversion Rate shall be increased so that
the same shall be equal to the rate determined by multiplying the Conversion Rate in effect on the Record Date with respect to such distribution by a fraction, 
  

(i) the numerator of which shall be the Current Market Price on such Record Date; and 
  
 (ii) the denominator of which shall be the Current Market
Price on such Record Date less the Fair Market Value (as determined by the Board of Directors, whose determination shall be conclusive, and described in a resolution of the Board of Directors) on the Record Date of the portion of the Securities so
distributed applicable to one share of Common Stock, 
  
 such adjustment to become
effective immediately prior to the opening of business on the day following such Record Date; provided that if the then Fair Market Value (as so determined) of the portion of the Securities so distributed applicable to one share of Common
Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of the foregoing adjustment, adequate provision shall be made so that each Noteholder shall have the right to receive upon conversion the amount of Securities
such holder would have received had such holder converted each Note on the Record Date. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if
such dividend or distribution had 

  

 74 

 
not been declared. If the Board of Directors determines the Fair Market Value of any distribution for purposes of this Section 15.07(d) by reference to the
actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the Current Market Price on the applicable Record Date. Notwithstanding the foregoing, if the
Securities distributed by the Company to all holders of its Common Stock consist of capital stock of, or similar equity interests in, a Subsidiary or other business unit, the Conversion Rate shall be increased so that the same shall be equal to the
rate determined by multiplying the Conversion Rate in effect on the Record Date with respect to such distribution by a fraction, 
  
 (i) the numerator of which shall be the sum of (A) the average of the Closing Sale Prices of the Common Stock for the ten (10) Trading
Days commencing on and including the fifth Trading Day after the Ex-Dividend Time plus (B) the Fair Market Value of the securities distributed in respect of each share of Common Stock for which this Section 15.07(d) applies and shall equal the
number of securities distributed in respect of each share of Common Stock multiplied by the average of the closing sale prices of those securities distributed (where such closing sale prices are available) for the ten (10) Trading Days commencing on
and including the fifth Trading Day after the Ex-Dividend Time; and 
  
 (ii) the denominator of which shall be the average of the Closing Sale Prices of the Common Stock for the ten (10) Trading Days commencing on and including the fifth Trading Day after the Ex-Dividend Time, 

 
 such adjustment to become effective immediately prior to the opening of business on the
day following such Record Date; provided that the Company may in lieu of the foregoing adjustment make adequate provision so that each Noteholder shall have the right to receive upon conversion the amount of Securities such holder would have
received had such holder converted each Note on the Record Date with respect to such distribution. 
  
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for or purchase shares of the
Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of
Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 15.07 (and no adjustment to the Conversion Rate under this
Section 15.07 will be required) until the occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made
under this Section 15.07(d). If any such right or warrant, including any such 

  

 75 

 
existing rights or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights or warrants
become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and record date with respect to new rights or
warrants with such rights (and a termination or expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any
Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 15.07 was made,
(1) in the case of any such rights or warrants that shall all have been redeemed or repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted upon such final redemption or repurchase to give effect to such
distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or repurchase price received by a holder or holders of Common Stock with respect to such rights or warrants (assuming such
holder had retained such rights or warrants), made to all holders of Common Stock as of the date of such redemption or repurchase, and (2) in the case of such rights or warrants that shall have expired or been terminated without exercise by any
holders thereof, the Conversion Rate shall be readjusted as if such rights and warrants had not been issued. 
  
 No adjustment of the Conversion Rate shall be made pursuant to this Section 15.07(d) in respect of rights or warrants distributed or deemed distributed on
any Trigger Event to the extent that such rights or warrants are actually distributed, or reserved by the Company for distribution to holders of Notes upon conversion by such holders of Notes to Common Stock. 
  
 For purposes of this Section 15.07(d) and Section 15.07(a) and 15.07(b), any
dividend or distribution to which this Section 15.07(d) is applicable that also includes shares of Common Stock, or rights or warrants to subscribe for or purchase shares of Common Stock (or both), shall be deemed instead to be (1) a dividend or
distribution of the evidences of indebtedness, assets or shares of capital stock other than such shares of Common Stock or rights or warrants (and any Conversion Rate adjustment required by this Section 15.07(d) with respect to such dividend or
distribution shall then be made) immediately followed by (2) a dividend or distribution of such shares of Common Stock or such rights or warrants (and any further Conversion Rate adjustment required by Sections 15.07(a) and 15.07(b) with respect to
such dividend or distribution shall then be made), except (A) the Record Date of such dividend or distribution shall be substituted as “the date fixed for the determination of stockholders entitled to receive such dividend or other
distribution”, “the date fixed for the determination of stockholders entitled to receive such rights or warrants” and “the date fixed for such determination” within the meaning of Section 15.07(a) and 15.07(b) and (B) any
shares of Common Stock included in such dividend or distribution shall not 

  

 76 

 
be deemed “outstanding at the close of business on the date fixed for such determination” within the meaning of Section 15.07(a). 
  
 (e) In case the Company shall, by dividend or otherwise, distribute to all
holders of its Common Stock cash (excluding any dividend or distribution in connection with the liquidation, dissolution or winding up of the Company, whether voluntary or involuntary), then, in such case, the Conversion Rate shall be increased so
that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the close of business on such record date by a fraction, 
  
 (i) the numerator of which shall be the Current Market Price on such record date; and 
  
 (ii) the denominator of which shall be the Current Market
Price on such record date less the amount of cash so distributed applicable to one share of Common Stock, 
  
 such adjustment to be effective immediately prior to the opening of business on the day following the record date; provided that if the portion of the cash so distributed applicable to one share of Common Stock
is equal to or greater than the Current Market Price on the record date, in lieu of the foregoing adjustment, adequate provision shall be made so that each Noteholder shall have the right to receive upon conversion the amount of cash such holder
would have received had such holder converted each Note on the record date. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such dividend
or distribution had not been declared. 
  
 (f) In case a tender or
exchange offer made by the Company or any Subsidiary for all or any portion of the Common Stock shall expire and such tender or exchange offer (as amended upon the expiration thereof) shall require the payment to stockholders of consideration per
share of Common Stock having a Fair Market Value (as determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of Directors) that as of the last time (the “Expiration
Time”) tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended) exceeds the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time, the Conversion Rate
shall be increased so that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the Expiration Time by a fraction, 
  
 (i) the numerator of which shall be the sum of (x) the Fair Market Value (determined as aforesaid) of the
aggregate consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged and not withdrawn as of the Expiration Time (the 

  

 77 

 
shares deemed so accepted up to any such maximum, being referred to as the “Purchased Shares”) and (y) the product of the number of shares
of Common Stock outstanding (less any Purchased Shares) at the Expiration Time and the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time, and 
  
 (ii) the denominator of which shall be the number of shares
of Common Stock outstanding (including any tendered or exchanged shares) at the Expiration Time multiplied by the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time, 
  
 such adjustment to become effective immediately prior to the opening of business on the day
following the Expiration Time. If the Company is obligated to purchase shares pursuant to any such tender or exchange offer, but the Company is permanently prevented by applicable law from effecting any such purchases or all such purchases are
rescinded, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made. 
  
 (g) In case of a payment in respect of a tender or exchange offer made by a Person other than the Company or any Subsidiary
for an amount that increases such offeror’s ownership of Common Stock to more than twenty-five percent (25%) of the Common Stock outstanding at such time and shall involve the payment by such Person of consideration per share of Common Stock
having a Fair Market Value (as determined by the Board of Directors, whose determination shall be conclusive, and described in a resolution of the Board of Directors) that as of the last time (the “Offer Expiration Time”) tenders or
exchanges may be made pursuant to such tender or exchange offer (as it shall have been amended) exceeds the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Offer Expiration Time, and in which, as of the Offer
Expiration Time the Board of Directors is not recommending rejection of the offer, the Conversion Rate shall be increased so that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the Offer
Expiration Time by a fraction, 
  
 (i) the
numerator of which shall be the sum of (x) the Fair Market Value (determined as aforesaid) of the aggregate consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of
all shares validly tendered or exchanged and not withdrawn as of the Offer Expiration Time (the shares deemed so accepted, up to any such maximum, being referred to as the “Offeror Purchased Shares”) and (y) the product of the
number of shares of Common Stock outstanding (less any Offeror Purchased Shares) at the Offer Expiration Time and the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Offer Expiration Time, and 
  

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 (ii) the denominator of which shall be the number of shares of Common Stock outstanding
(including any tendered or exchanged shares) at the Offer Expiration Time multiplied by the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Offer Expiration Time, 
  
 such adjustment to become effective immediately prior to the opening of business on the day
following the Offer Expiration Time. If such Person is obligated to purchase shares pursuant to any such tender or exchange offer, but such Person is permanently prevented by applicable law from effecting any such purchases or all such purchases are
rescinded, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made. Notwithstanding the foregoing, the adjustment described in this Section 15.07(g) shall
not be made if, as of the Offer Expiration Time, the offering documents with respect to such offer disclose a plan or intention to cause the Company to engage in any transaction described in Article 12. 
  
 (h) For purposes of this Section 15.07, the following terms shall have the
meaning indicated: 
  
 (i) “Current
Market Price” shall mean the average of the daily Closing Sale Prices per share of Common Stock for the ten consecutive Trading Days ending on the earlier of such date of determination and the day before the “ex” date with
respect to the issuance, distribution, subdivision or combination requiring such computation immediately prior to the date in question. For purpose of this paragraph, the term “ex” date, (1) when used with respect to any issuance or
distribution, means the first date on which the Common Stock trades, regular way, on the relevant exchange or in the relevant market from which the Closing Sale Price was obtained without the right to receive such issuance or distribution, and (2)
when used with respect to any subdivision or combination of shares of Common Stock, means the first date on which the Common Stock trades, regular way, on such exchange or in such market after the time at which such subdivision or combination
becomes effective. 
  
 If another issuance, distribution,
subdivision or combination to which Section 15.07 applies occurs during the period applicable for calculating “Current Market Price” pursuant to the definition in the preceding paragraph, “Current Market Price”
shall be calculated for such period in a manner determined by the Board of Directors to reflect the impact of such issuance, distribution, subdivision or combination on the Closing Sale Price of the Common Stock during such period. 
  
 (ii) “Fair Market Value” shall mean the
amount which a willing buyer would pay a willing seller in an arm’s-length transaction. 
  

 79 

 (iii) “Record Date” shall mean, with respect to any dividend,
distribution or other transaction or event in which the holders of Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted into any
combination of cash, securities or other property, the date fixed for determination of stockholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or
otherwise). 
  
 (iv) “Trading
Day” shall mean (x) if the applicable security is quoted on the Nasdaq National Market, a day on which trades may be made thereon or (y) if the applicable security is listed or admitted for trading on the American Stock Exchange, New York
Stock Exchange or another national securities exchange, a day on which the American Stock Exchange, New York Stock Exchange or another national securities exchange is open for business or (z) if the applicable security is not so listed, admitted for
trading or quoted, any day other than a Saturday or Sunday or a day on which banking institutions in the State of New York are authorized or obligated by law or executive order to close. 
  
 (i) The Company may make such increases in the Conversion Rate, in addition to those required by Section 15.07(a), 15.07(b),
15.07(c), 15.07(d), 15.07(e), 15.07(f) or 15.07(g) as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of
stock (or rights to acquire stock) or from any event treated as such for income tax purposes. 
  
 To the extent permitted by applicable law and Nasdaq Marketplace rules, the Company from time to time may increase the Conversion Rate by any amount for any period of time if the period is at least twenty (20) days,
the increase is irrevocable during the period and the Board of Directors shall have made a determination that such increase would be in the best interests of the Company, which determination shall be conclusive. Whenever the Conversion Rate is
increased pursuant to the preceding sentence, the Company shall mail to holders of record of the Notes a notice of the increase at least fifteen (15) days prior to the date the increased Conversion Rate takes effect, and such notice shall state the
increased Conversion Rate and the period during which it will be in effect. 
  
 (j) No adjustment in the Conversion Rate shall be required unless such adjustment would require an increase or decrease of at least one percent (1%) in such rate; provided that any adjustments that by reason of
this Section 15.07(j) are not required to be made shall be carried forward and made (i) on each anniversary of the first date of issue of the Notes, (ii) five Business Days prior to the maturity of the Notes, whether at stated maturity or otherwise
and (iii) five Business Days prior to the Repurchase Date in connection with a Designated Event. All calculations under this Article 15 shall be made by the Company and shall be made to the nearest cent or to the nearest one-ten 

  

 80 

 
thousandth (1/10,000) of a share, as the case may be. No adjustment will be made if Noteholders are permitted to participate in the transactions described in
paragraphs (a) through (g) of this Section 15.07 that would otherwise require adjustment. No adjustment need be made for rights to purchase Common Stock pursuant to a Company plan for reinvestment of dividends or interest or for any issuance of
Common Stock or convertible or exchangeable securities or rights to purchase Common Stock or convertible or exchangeable securities. To the extent the Notes become convertible into cash, assets, property or securities (other than capital stock of
the Company), no adjustment need be made thereafter as to the cash, assets, property or such securities. Interest will not accrue on any cash into which the Notes are convertible. 
  
 (k) Whenever the Conversion Rate is 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 Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a Responsible Officer of the
Trustee shall have received such Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume that the last Conversion Rate of which it has knowledge is still in effect.
Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment becomes effective and shall mail such notice
of such adjustment of the Conversion Rate to the holder of each Note at his last address appearing on the Note Register provided for in Section 2.05 of this Indenture, within twenty (20) days after execution thereof. Failure to deliver such notice
shall not affect the legality or validity of any such adjustment. 
  
 (l) In any case in which this Section 15.07 provides that an adjustment shall become effective immediately after (1) a record date or Record Date for an event, (2) the date fixed for the determination of stockholders entitled to receive a
dividend or distribution pursuant to Section 15.07(a), (3) a date fixed for the determination of stockholders entitled to receive rights or warrants pursuant to Section 15.07(b), or (4) the Expiration Time for any tender or exchange offer pursuant
to Section 15.07(f) or 15.07(g), (each a “Determination Date”), the Company may elect to defer until the occurrence of the applicable Adjustment Event (as hereinafter defined) (x) issuing to the holder of any Note converted after
such Determination Date and before the occurrence of such Adjustment Event, the additional shares of Common Stock or other securities issuable upon such conversion by reason of the adjustment required by such Adjustment Event over and above the
Common Stock issuable upon such conversion before giving effect to such adjustment and (y) paying to such holder any amount in cash in lieu of any fraction pursuant to Section 15.05. For purposes of this Section 15.07(l), the term
“Adjustment Event” shall mean: 
  
 (i) in any case referred to in clause (1) hereof, the occurrence of such event, 
  

 81 

 (ii) in any case referred to in clause (2) hereof, the date any such dividend or
distribution is paid or made, 
  
 (iii) in any
case referred to in clause (3) hereof, the date of expiration of such rights or warrants, and 
  
 (iv) in any case referred to in clause (4) hereof, the date a sale or exchange of Common Stock pursuant to such tender or exchange offer
is consummated and becomes irrevocable. 
  
 (m) For purposes of
this Section 15.07, the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of
Common Stock. The Company will not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. 
  
 Section 15.08. Make Whole Payment upon the Occurrence of a Fundamental Change. (a) Subject to the provisions hereof, including Section 15.09, if a
Noteholder elects to convert its Notes following the occurrence of a Fundamental Change that occurs prior to [            ], 2012, the Company will increase the applicable Conversion Rate
for the Notes such that the holder will be entitled to receive, in addition to a number of shares of Common Stock (or cash or a combination of cash and shares of Common Stock, if the Company so elects) equal to the applicable Conversion Rate, an
additional number of shares (the “Additional Shares”) of Common Stock (or cash or a combination of cash and shares of Common Stock, if the Company so elects) as set forth below. The number of Additional Shares will be determined by
reference to the table in paragraph (b) below, based on the date on which the Fundamental Change becomes effective (the “Effective Date”) and the average of the Closing Sale Prices of the Common Stock over the five Trading Day
period ending on the Trading Day immediately preceding the Effective Date (such average, the “Stock Price”). 
  
 (b) The Stock Prices set forth in the first row of the table below shall be adjusted as of any date on which the Conversion Rate of the Notes is adjusted
pursuant to Section 15.07. The adjusted Stock Prices will equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, 
  
 (i) the numerator of which is the Conversion Rate immediately prior to the adjustment giving rise to the Stock Price adjustment and

  
 (ii) the denominator of which is the
Conversion Rate as so adjusted. The number of Additional Shares will be adjusted in the same manner and for the same events as the Conversion Rate is adjusted pursuant to Section 15.07. 
  

 82 

 The following table sets forth the number of Additional Shares per $1,000 principal amount of Notes:

  

			
	 Effective Date

	  	Stock Price

	 2005
	  	 
	 2006
	  	 
	 2007
	  	 
	 2008
	  	 
	 2009
	  	 
	 2010
	  	 
	 2011
	  	 
	 2012
	  	 

  
 If the exact Stock
Price and Effective Date are not set forth on the table above, then: 
  
 (i) If the 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 will be determined by a straight-line
interpolation between the number of Additional Shares set forth for the higher and lower Stock Price amounts and the two dates, as applicable, based on a 365- or 366-day year, as applicable. 
  
 (ii) If the Stock Price is in excess of
$[            ] per share, subject to adjustment, the Company shall not increase the Conversion Rate by any Additional Shares. 
  
 (iii) If the Stock Price is less than
$[            ] per share, subject to adjustment, the Company shall not increase the Conversion Rate by any Additional Shares. 
  
 Notwithstanding the foregoing, in no event will the total number of shares issuable upon conversion of a Note (after giving
effect to the make-whole adjustment required by this Section 15.08) exceed [            ] per $1,000 principal amount of Notes, subject to adjustment in the same manner and for the same
events as the Conversion Rate may be adjusted pursuant to Section 15.07. 
  
 Section 15.09. Public Acquirer Change of Control. (a) In the case of a Public Acquirer Change of Control, the Company may, in lieu of adjusting the Conversion Rate as described in Section 15.08, elect to adjust
the Conversion Rate and the related Conversion Obligation such that from and after the Effective Date of such Public Acquirer Change of Control, the right to convert a Note will be changed into a right to convert a Note into shares of Public
Acquirer Common Stock. In the event that the Company makes such election, the Conversion Rate following the Effective Date of such transaction will be a number of shares of Public Acquirer Common Stock equal to the product of: 
  
 (i) the Conversion Rate in effect immediately prior to the
effective date of such Public Acquirer Change of Control, multiplied by 
  

 83 

 (ii) the average of the quotients obtained, for each Trading Day in the 10 consecutive
Trading Day period ending on the trading day immediately preceding the Effective Date of such Public Acquirer Change of Control (the “Valuation Period”), of: 
  
 (A) the Acquisition Value of the Common Stock on each such Trading Day in the Valuation Period, divided by

  
 (B) the Closing Sale Price of the Public
Acquirer Common Stock on each such Trading Day in the Valuation Period. 
  
 (b) After the adjustment of the Conversion Rate in connection with a Public Acquirer Change of Control, the Conversion Rate shall be further adjusted in accordance with Section 15.07 if any of the events described in Section 15.07 occurs
thereafter. 
  
 (c) Within 10 Trading Days prior to but excluding
the expected Effective Date of a Public Acquirer Change of Control, the Company shall provide to all holders of the Notes and to the Trustee and paying agent a notification (a “Public Acquisition Notice”) stating whether the Company
will: 
  
 (i) elect to adjust the Conversion Rate
and related Conversion Obligation pursuant to this Section 15.03, in which case the holders will have the right to require the Company to repurchase their Notes pursuant to Section 3.05 but will not have the right to any Conversion Rate adjustment
pursuant to Section 15.09; or 
  
 (ii) not elect
to adjust the Conversion Rate and related Conversion Obligation, in which case the holders will have the right to require the Company to repurchase their Notes pursuant to Section 3.05 and the right, if applicable, to any Conversion Rate adjustment
pursuant to Section 15.08. 
  
 (d) For purposes of this Section
15.09, the following terms shall have the meaning indicated: 
  
 (i) The “Acquisition Value” of the Common Stock shall mean, for each Trading Day in the Valuation Period, the value of the consideration paid per share of the Common Stock in connection with such
Public Acquirer Change of Control, as follows: 
  
 (A) for any cash, 100% of the amount of such cash; 
  

 84 

 (B) for any Public Acquirer Common Stock, 100% of the Closing Sale Price of such Public
Acquirer Common Stock on such Trading Day; and 
  
 (C) for any other securities, assets or property, 102% of the Fair Market Value of such security, asset or property on such Trading Day, as determined by two independent nationally recognized investment banks selected by the Trustee for
this purpose. 
  
 (ii) A “Public Acquirer
Change of Control” shall mean any event constituting a Fundamental Change that would give holders the right to cause the Company to repurchase the Notes pursuant to Section 3.05 above if the acquirer, which includes any person formed by or
surviving any merger or consolidation, has a class of common stock (“Public Acquirer Common Stock”) traded on a U.S. national securities exchange or quoted on the Nasdaq Stock Market or which will be so traded or quoted when issued
or exchanged in connection with such Fundamental Change. If an acquirer does not itself have a class of common stock satisfying the foregoing requirement, it will be deemed to have Public Acquirer Common Stock if either (A) a direct or indirect
majority-owned subsidiary of the acquirer or (B) a corporation that directly or indirectly owns at least a majority of the acquirer, has a class of common stock satisfying the foregoing requirement and the acquirer has designated such common stock
to serve as the Public Acquirer Common Stock in the transaction. In such case, all references to Public Acquirer Common Stock shall refer to such class of common stock. “Majority owned” for these purposes means having “beneficial
ownership,” as defined in Rule 13d-3 under the Exchange Act, of more than 50% of the total voting power of all shares of the respective entity’s capital stock that are entitled to vote generally in the election of directors. 
  
 Section 15.10. Effect of Reclassification, Consolidation, Merger or Sale.
(a) If any of the following events occur, namely (i) any reclassification or change of the outstanding shares of Common Stock (other than a subdivision or combination to which Section 15.07(c) applies, (ii) any consolidation, merger or
combination of the Company with another Person as a result of which holders of Common Stock shall be entitled to receive stock, other securities or other property or assets (including cash) with respect to or in exchange for such Common Stock, or
(iii) any sale or conveyance of all or substantially all of the properties and assets of the Company to any other Person as a result of which holders of Common Stock shall be entitled to receive stock, other securities or other property or assets
(including cash) with respect to or in exchange for such Common Stock, then the Company or the successor or purchasing corporation, as the case may be, shall execute with the Trustee a supplemental indenture (which shall comply with the Trust
Indenture Act as in force at the date of execution of such supplemental indenture if such supplemental indenture is then required to so comply) providing 

  

 85 

 
for the conversion and settlement of the Notes as set forth in this Indenture. Such supplemental indenture shall provide for adjustments which shall be as
nearly equivalent as may be practicable to the adjustments provided for in this Article 15. If, in the case of any such reclassification, change, consolidation, merger, combination, sale or conveyance, the Exchange Property includes shares of stock
or other securities and assets of a corporation other than the successor or purchasing corporation, as the case may be, in such reclassification, change, consolidation, merger, combination, sale or conveyance, then such supplemental indenture shall
also be executed by such other corporation and shall contain such additional provisions to protect the interests of the holders of the Notes as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including to the
extent required by the Board of Directors and practicable the provisions providing for the repurchase rights set forth in Article 3 herein. 
  
 (b) Notwithstanding the provisions of Section 15.03, and subject to the provisions of Section 15.01, on and after the effective date of such
reclassification, change, consolidation merger, combination, sale or conveyance, each $1,000 principal amount Note shall be convertible, subject to the Company’s right to settle the related Conversion Obligation in cash as set forth in this
Section 15.10, into the kind and amount of shares of stock and other securities or property or assets (including cash) or any combination thereof received upon such reclassification, change, consolidation, merger, combination, sale or conveyance by
a holder of Common Stock holding, immediately prior to the transaction, a number of shares of Common Stock equal to the Conversion Rate immediately prior to such transaction (the “Exchange Property”), assuming such holder of Common
Stock did not exercise his rights of election, if any, as to the kind or amount of securities, cash or other property receivable upon such reclassification, change, consolidation, merger, combination, sale or conveyance (provided that, if the kind
or amount of securities, cash or other property receivable upon such reclassification, change, consolidation, merger, combination, sale or conveyance is not the same for each share of Common Stock in respect of which such rights of election shall
not have been exercised (“non-electing share”), then for the purposes of this Section 15.10 the kind and amount of securities, cash or other property receivable upon such reclassification, change, consolidation, merger, combination,
sale or conveyance for each non-electing share shall be deemed to be the kind and amount so receivable per share by a plurality of the non-electing shares). Such supplemental indenture shall provide for adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Article 15. 
  
 (c) The Company shall cause notice of the execution of such supplemental indenture to be mailed to each holder of Notes, at its address appearing on the Note Register provided for in Section 2.05 of this Indenture,
within twenty (20) days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 
  

 86 

 (d) With respect to Notes tendered for conversion that the Company has elected, pursuant to Section
15.03, to settle the related Conversion Obligation partly or wholly in cash, or has irrevocably elected Net Share Settlement pursuant to Section 15.04, the Conversion Value in respect of any Notes tendered for conversion on or after the second
Trading Day immediately preceding the effective date of any such transaction shall be calculated as set forth under Section 15.03(b)(ii) (such calculation, the “Exchange Property Value”), except that the related Cash Settlement
Averaging Period shall begin on the later of (A) the first Trading Day of the related Cash Settlement Averaging Period without giving effect to this clause and (B) the effective date of such transaction. For the purpose of determining the value of
any Exchange Property: 
  
 (i) Any shares of
common stock of the successor or purchasing corporation or any other corporation that are included in the Exchange Property shall be valued as set forth in Section 15.03 using the procedures set forth in the definition of “Closing Sale
Price”; and 
  
 (ii) Any other property
(other than cash) included in the Exchange Property shall be valued in good faith by the Board of Directors or by a New York Stock Exchange member firm selected by the Board of Directors. 
  
 (e) The Company shall satisfy its Conversion Obligation to holders of Notes so converted as follows: 
  
 (i) If the Company elects to satisfy the related Conversion
Obligation entirely in Exchange Property, the Company will deliver the aggregate amount of Exchange Property for all Notes so converted; 
  
 (ii) If the Company elects to satisfy the entire Conversion Obligation in cash, the Company will deliver in an amount in cash equal to the
related aggregate Exchange Property Value; 
  
 (iii) If the Company elects to satisfy in cash a fixed portion of the Conversion Obligation (other than the entire obligation) or a percentage of the Conversion Obligation (other than 100%), the Company will deliver cash and an amount of
Exchange Property calculated as set forth in Section 15.03(b)(iii) as if references therein and in the definition of Daily Share Amount to Conversion Value were to Exchange Property Value and references to “shares of Common Stock” were to
Exchange Property, except that the Daily Share Amount shall be calculated for the same twenty consecutive period used to calculate the Exchange Property Value and shall be based on the Exchange Property per $1,000 principal amount Note in lieu of
the Conversion Rate; and 
  
 (iv) If the Company
has irrevocably elected Net Share Settlement pursuant to Section 15.04 in respect of any Notes so converted, 

  

 87 

 
the Company will deliver cash and Exchange Property as set forth in Section 15.04, except that references to the Conversion Value shall be deemed to be
references to Exchange Property Value and the amount of Exchange Property shall be calculated as set forth in clause (iii) above using a Specified Dollar Amount equal to $1,000. 
  
 (f) Paragraphs (a) through (e) of this Section shall similarly apply to successive reclassifications, changes,
consolidations, mergers, combinations, sales and conveyances. 
  
 (g) If this Section 15.10 applies to any event or occurrence, Section 15.07 shall not apply. 
  
 Section 15.11. Taxes on Shares Issued. The issue of stock certificates on conversions of Notes shall be made without charge to the converting
Noteholder for any documentary, stamp or similar issue or transfer tax in respect of the issue thereof. The Company shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the issue and
delivery of stock in any name other than that of the holder of any Note converted, and the Company shall not be required to issue or deliver any such stock certificate unless and until the Person or Persons requesting the issue thereof shall have
paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid. 
  
 Section 15.12. Reservation of Shares, Shares to Be Fully Paid; Compliance With Governmental Requirements; Listing of Common Stock. The Company
shall provide, free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for the conversion of the Notes from time to time as such Notes are presented for
conversion. 
  
 Before taking any action which would cause an
adjustment increasing the Conversion Rate to an amount that would cause the Conversion Price to be reduced below the then par value, if any, of the shares of Common Stock issuable upon conversion of the Notes, the Company will take all corporate
action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue shares of such Common Stock at such adjusted Conversion Rate. 
  
 The Company covenants that all shares of Common Stock which may be issued upon conversion of Notes will upon issue be fully
paid and non-assessable by the Company and free from all taxes, liens and charges with respect to the issue thereof. 
  
 The Company covenants that, if any shares of Common Stock to be provided for the purpose of conversion of Notes hereunder require registration with or
approval of any governmental authority under any federal or state law 

  

 88 

 
before such shares may be validly issued upon conversion, the Company will in good faith and as expeditiously as possible, to the extent then permitted by
the rules and interpretations of the Commission (or any successor thereto), endeavor to secure such registration or approval, as the case may be. 
  
 The Company further covenants that, if at any time the Common Stock shall be listed on the Nasdaq National Market or any other national securities
exchange or automated quotation system, the Company will, if permitted by the rules of such exchange or automated quotation system, list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system,
all Common Stock issuable upon conversion of the Notes; provided that if the rules of such exchange or automated quotation system permit the Company to defer the listing of such Common Stock until the first conversion of the Notes into Common
Stock in accordance with the provisions of this Indenture, the Company covenants to list such Common Stock issuable upon conversion of the Notes in accordance with the requirements of such exchange or automated quotation system at such time.

  
 Section 15.13. Responsibility of Trustee. The Trustee
and any other conversion agent shall not at any time be under any duty or responsibility to any holder of Notes to determine the Conversion Rate or whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to
the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other conversion agent shall
not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Note; and the Trustee and any
other conversion agent make no representations with respect thereto. Neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or
other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 15. Without limiting the generality of the
foregoing, neither the Trustee nor any conversion agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 15.10 relating either to the kind or
amount of shares of stock or securities or property (including cash) receivable by Noteholders upon the conversion of their Notes after any event referred to in such Section 15.10 or to any adjustment to be made with respect thereto, but, subject to
the provisions of Section 8.01, may accept as conclusive evidence of the correctness of any such provisions, and shall be protected in relying upon, the Officers’ Certificate (which the Company shall be obligated to file with the Trustee prior
to the execution of any such supplemental indenture) with respect thereto. 
  

 89 

 Section 15.14. Notice To Holders Prior To Certain Actions. In case: 
  
 (a) the Company shall declare a dividend (or any other distribution) on its
Common Stock that would require an adjustment in the Conversion Rate pursuant to Section 15.07; or 
  
 (b) the Company shall authorize the granting to the holders of all or substantially all of its Common Stock of rights or warrants to subscribe for or
purchase any share of any class or any other rights or warrants; or 
  
 (c) of any reclassification or reorganization of the Common Stock of the Company (other than a subdivision or combination of its outstanding Common Stock, or a change in par value, or from par value to no par value, or from no par value to
par value), or of any consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or transfer of all or substantially all of the assets of the Company; or 

 
 (d) of the voluntary or involuntary dissolution, liquidation or winding up
of the Company; 
  
 the Company shall cause to be filed with the Trustee and to be
mailed to each holder of Notes at his address appearing on the Note Register provided for in Section 2.05 of this Indenture, as promptly as possible but in any event at least ten (10) days prior to the applicable date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution or rights or warrants, or, if a record is not to be taken, the date as of which the holders of Common Stock of record to be entitled to such
dividend, distribution or rights are to be determined, or (y) the date on which such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up is expected to become effective or occur, and the date as of which
it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or
winding up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such dividend, distribution, reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up. 
  
 Section 15.15. Shareholder Rights Plans. Each share of Common Stock
issued upon conversion of Notes pursuant to this Article 15 shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the 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 plan adopted by the Company, as the same may be amended from time to time. If at the time of conversion, however, the rights have separated from the shares of Common Stock in
accordance with the provisions of the applicable shareholder rights agreement so that the holders of the Notes would not be entitled to receive any rights in respect of Common Stock issuable upon conversion of the Notes, the conversion rate will be
adjusted in accordance with Section 15.07 treating all 

  

 90 

 
rights previously issued as Securities for purposes of such adjustment, subject to readjustment in the event of the expiration, termination or redemption of
the rights. 
  
 ARTICLE 16 
 MISCELLANEOUS PROVISIONS 
  
 Section 16.01. Provisions Binding on Company’s Successors. All the covenants, stipulations, promises and agreements by the Company contained
in this Indenture shall bind its successors and assigns whether so expressed or not. 
  
 Section 16.02. Official Acts by Successor Corporation. Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company
shall and may be done and performed with like force and effect by the like board, committee or officer of any Person that shall at the time be the lawful sole successor of the Company. 
  
 Section 16.03. Addresses for Notices, Etc. Any notice or demand which by any provision of this Indenture is required
or permitted to be given or served by the Trustee or by the holders of Notes on the Company shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified
mail in a post office letter box or sent by telecopier transmission addressed as follows: to GSI Commerce, Inc., 935 First Avenue, King of Prussia, Pennsylvania 19406, Attention: [Treasurer]. Any notice, direction, request or demand hereunder to or
upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited, postage prepaid, by registered or certified mail in a post office letter box or sent by telecopier transmission
addressed as follows: JPMorgan Chase Bank, NA, [            ], New York, New York [            ], Telecopier No.:
[            ], Attention: [Corporate Trust Department]. 
  
 The Trustee, by notice to the Company, may designate additional or different addresses for subsequent notices or communications. 
  
 Any notice or communication mailed to a Noteholder shall be mailed to him by
first-class mail, postage prepaid, at his address as it appears on the Note Register and shall be sufficiently given to him if so mailed within the time prescribed. 
  
 Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect
to other Noteholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
  

 91 

 Section 16.04. Governing Law. This Indenture and each Note shall be deemed to be a contract made
under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles thereof. 
  
 Section 16.05. Evidence of Compliance with Conditions Precedent,
Certificates to Trustee. Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

  
 Each certificate or opinion provided for in this Indenture and
delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include: (1) a statement that the person making such certificate or opinion has read such covenant or condition; (2) a brief
statement as to the nature and scope of the examination or investigation upon which the statement or opinion contained in such certificate or opinion is based; (3) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such person, such condition or covenant
has been complied with. 
  
 Section 16.06. Legal Holidays.
In any case in which the date of maturity of Interest on or principal of the Notes or the redemption date of any Note will not be a Business Day, then payment of such Interest on or principal of the Notes need not be made on such date, but may
be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the redemption date, and no Interest shall accrue for the period from and after such date. 
  
 Section 16.07. Trust Indenture Act. This Indenture is hereby made
subject to, and shall be governed by, the provisions of the Trust Indenture Act required to be part of and to govern indentures qualified under the Trust Indenture Act; provided that unless otherwise required by law, notwithstanding the
foregoing, this Indenture and the Notes issued hereunder shall not be subject to the provisions of subsections (a)(1), (a)(2), and (a)(3) of Section 314 of the Trust Indenture Act as now in effect or as hereafter amended or modified; provided
further that this Section 16.07 shall not require this Indenture or the Trustee to be qualified under the Trust Indenture Act prior to the time such qualification is in fact required under the terms of the Trust Indenture Act, nor shall it
constitute any admission or acknowledgment by any party to the Indenture that any such qualification is required prior to the time such qualification is in fact required under the terms of the Trust Indenture Act. If any provision hereof limits,

  

 92 

 
qualifies or conflicts with another provision hereof which is required to be included in an indenture qualified under the Trust Indenture Act, such required
provision shall control. 
  
 Section 16.08. No Security
Interest Created. Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction in which property of the Company or its subsidiaries is located. 
  
 Section 16.09. Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any paying agent, any authenticating agent, any Note
Registrar and their successors hereunder and the holders of Notes any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  
 Section 16.10. Table of Contents, Headings, Etc. The table of contents and the titles and headings of the Articles and Sections of this Indenture
have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
  
 Section 16.11. Authenticating Agent. The Trustee may appoint an authenticating agent that shall be authorized to act
on its behalf, and subject to its direction, in the authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Sections 2.04, 2.05, 2.06, 2.07, 3.03, 3.05,
3.06, 3.10 and 15.02, as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the
authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating
agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section
8.09. 
  
 Any corporation into which any authenticating agent may
be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation succeeding to the corporate trust business
of any authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation is otherwise eligible under this Section 16.11, without the execution or filing of any paper or any further act on the part of
the parties hereto or the authenticating agent or such successor corporation. 
  

 93 

 Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee
and to the Company. The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time any authenticating agent shall cease to be eligible under this Section, the Trustee shall either promptly appoint a successor authenticating agent or itself assume the duties and obligations of the former
authenticating agent under this Indenture and, upon such appointment of a successor authenticating agent, if made, shall give written notice of such appointment of a successor authenticating agent to the Company and shall mail notice of such
appointment of a successor authenticating agent to all holders of Notes as the names and addresses of such holders appear on the Note Register. 
  
 The Company agrees to pay to the authenticating agent from time to time such reasonable compensation for its services as shall be agreed upon in writing
between the Company and the authenticating agent. 
  
 The
provisions of Sections 8.02, 8.03, 8.04 and 9.03 and this Section 16.11 shall be applicable to any authenticating agent. 
  
 Section 16.12. Execution in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original, but
such counterparts shall together constitute but one and the same instrument. 
  
 Section 16.13. Severability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 JPMorgan Chase Bank, NA hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions herein above set forth. 
  

 94 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed. 
  

					
	GSI COMMERCE, INC.
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	JPMORGAN CHASE BANK, NA, as Trustee
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

  
 EXHIBIT A 

 
 [INCLUDE IF GLOBAL NOTE: UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITARY”, WHICH TERM INCLUDES ANY SUCCESSOR DEPOSITARY FOR THE CERTIFICATES) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREIN IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.] 
  

 A-1 

  
 GSI COMMERCE, INC.

  
 [        ]%
CONVERTIBLE NOTE DUE 2025 
  
 CUSIP:
[            ] 
  

					
	 No.
	 	 	 	$        

  
 GSI Commerce, Inc., a
corporation duly organized and validly existing under the laws of the State of Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value
received hereby promises to pay to [if global note: CEDE & CO.] [            ] or its registered assigns, the principal sum [if global note: as set forth on Schedule I hereto] [of
$         ] on [            ], 2025, at the office or agency of the Company maintained for that purpose in accordance with the terms of the
Indenture, 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, and to pay interest, semiannually on
[            ] and [            ] of each year, commencing
[            ], 2005, on said principal sum at said office or agency, in like coin or currency, at the rate per annum of [        ]%, from the
[            ] or [            ], as the case may be, next preceding the date of this Note to which interest has been paid or
duly provided for, unless the date hereof is a date to which interest has been paid or duly provided for, in which case from the date of this Note, or unless no interest has been paid or duly provided for on the Notes, in which case from
[            ], 2005, until payment of said principal sum has been made or duly provided for. Notwithstanding the foregoing, if the date hereof is after any
[            ] or [            ], as the case may be, and before the following
[            ] or [            ], this Note shall bear interest from such
[            ] or [            ]; provided that if the Company shall default in the payment of interest due on such
[            ] or [            ], then this Note shall bear interest from the next preceding
[            ] or [            ] to which interest has been paid or duly provided for or, if no interest has been paid or duly
provided for on such Note, from [            ], 2005. Except as otherwise provided in the Indenture, the interest payable on the Note pursuant to the Indenture on any
[            ] or [            ] will be paid to the Person entitled thereto as it appears in the Note Register at the close of
business on the record date, which shall be the [            ] or [            ] (whether or not a Business Day) next preceding
such [            ] or [            ], as provided in the Indenture; provided that any such interest not punctually paid
or duly provided for shall be payable as provided in the Indenture. The Company shall pay interest (i) on any Notes in certificated form by check mailed to the address of the Person entitled thereto as it appears in the Note Register
(provided that the holder of Notes with an aggregate principal amount in excess of $2,000,000 shall, at the written election of such holder, be paid by wire transfer of immediately available funds) or (ii) on any Global Note by wire transfer
of immediately available funds to the account of the Depositary or its nominee. 
  

 A-2 

 The Company promises to pay interest on overdue principal and (to the extent that payment of such
interest is enforceable under applicable law) interest at the rate of 1% per annum. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving the holder of this Note the right to convert this Note into Common Stock of
the Company, cash or a combination of cash and Common Stock of the Company on the terms and subject to the limitations referred to on the reverse hereof and as more fully specified in the Indenture. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
  
 This Note shall be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be construed in accordance with and governed by the laws of the State of New York, without regard to conflicts of laws
principles thereof. 
  
 This Note shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or a duly authorized authenticating agent under the Indenture. 
  

 A-3 

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

			
	GSI COMMERCE, INC.
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	 Attest:

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  
 TRUSTEE’S
CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Notes described in the
within-named Indenture. 
  

			
	 JPMORGAN CHASE BANK, NA, as Trustee

		
	 By:
	 	 
	 	 	 Authorized Signatory

  
                                        
 , or 
  

					
		
	By:	 	 
	 	 	 As Authenticating Agent
 (if different from Trustee)

			
	 	 	By:	 	 
	 	 	 	 	Authorized Signatory

  

 A-4 

  
 FORM OF REVERSE OF NOTE

  
 GSI COMMERCE, INC. 
  
 [        ]% CONVERTIBLE NOTE DUE 2025

  
 This Note is one of a duly authorized issue of Notes of the
Company, designated as its [        ]% Convertible Notes due 2025 (herein called the “Notes”), unlimited in aggregate principal amount, issued and to be issued under and pursuant to an
Indenture dated as of [            ], 2005 (herein called the “Indenture”), between the Company and JPMorgan Chase Bank, NA, as trustee (herein called the
“Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and
the holders of the Notes. 
  
 In case an Event of Default shall
have occurred and be continuing, the principal and premium, if any, of and accrued and unpaid Interest on all Notes may be declared by either the Trustee or the holders of not less than 25% in aggregate principal amount of the Notes then
outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 
  
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of at least a majority in aggregate principal
amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the
rights of the holders of the Notes; provided that no such supplemental indenture shall (i) extend the fixed maturity of any Note, or reduce the rate or extend the time of payment of Interest thereon, or reduce the principal amount thereof or
reduce any amount payable upon redemption or repurchase thereof, or, after the occurrence of a Designated Event, change the obligation of the Company to repurchase any Note upon the happening of a Designated Event in a manner adverse to the holders
of Notes, or impair the right of any Noteholder to institute suit for the payment thereof, or make the principal or premium, if any, thereof or interest thereon payable in any coin or currency other than that provided in the Notes, or reduce the
number of shares of Common Stock or the amount of any other property receivable by a Noteholder upon conversion subject to the terms set forth in the Indenture, including Sections 15.03, 15.04, 15.09 and 15.10 thereof, or change any obligation of
the Company to maintain an office or agency in the places and for the purposes set forth in Section 5.02 thereof, or reduce the quorum or voting requirements set forth in Article 10, or reduce the percentage of the Notes the holders of which are
required to provide any waiver under Section 7.07 of the Indenture or to consent to any such supplemental indenture, in each case, without the consent of the holder of each Note so affected, or (ii) prior to the occurrence of a Designated Event,
change the 

  

 A-5 

 
obligation of the Company to repurchase any Note upon the happening of a Designated Event in a manner adverse to the holders of Notes, without the consent of
two-thirds of the holders of outstanding Notes. Subject to the provisions of the Indenture, the holders of a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of the holders of all of the Notes waive any past
Default or Event of Default under the Indenture and its consequences except (A) a default in the payment of Interest on, or the principal of, any of the Notes, (B) a failure by the Company to convert any Note, (C) a default in the payment of the
redemption price pursuant to Article 3 of the Indenture, (D) a default in the payment of the repurchase price pursuant to Article 3 of the Indenture, or (E) a default in respect of a covenant or provisions of the Indenture which under Article 11 of
the Indenture cannot be modified or amended without the consent of the holders of each or all Notes then outstanding or affected thereby. Any such consent or waiver by the holder of this Note (unless revoked as provided in the Indenture) shall be
conclusive and binding upon such holder and upon all future holders and owners of this Note and any Notes which may be issued in exchange or substitution hereof, irrespective of whether or not any notation thereof is made upon this Note or such
other Notes. 
  
 No reference herein to the Indenture and no
provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and Interest on this Note at the place, at the respective times, at the rate and in the coin
or currency herein prescribed. 
  
 Interest on the Notes shall be
computed on the basis of a 360-day year of twelve 30-day months. 
  
 The Notes are issuable in fully registered form, without coupons, in denominations of $1,000 principal amount and any multiple of $1,000. At the office or agency of the Company referred to on the face hereof, and in the manner and subject
to the limitations provided in the Indenture, without payment of any service charge but with payment of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration or exchange of
Notes, Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized denominations. 
  
 Except as set forth in the next succeeding paragraph, the Company may not redeem the Notes prior to [        ],
2012. At any time on or after [            ], 2012 and prior to maturity, the Notes may be redeemed at the option of the Company, in whole or in part, upon mailing a notice of such
redemption not less than 30 days but not more than 60 days before the redemption date to the holders of Notes at their last registered addresses, all as provided in the Indenture, at a cash redemption price equal to 100% of the principal amount of
the Notes being redeemed and accrued and unpaid Interest, to, but excluding, the redemption date; provided that if the redemption date falls after a record date and on or prior the corresponding interest payment date, then accrued and unpaid
Interest to, but 

  

 A-6 

 
excluding, the redemption date shall be paid on such interest payment date to the holders of record of such Notes on the applicable record date instead of to
the holders surrendering such Notes for redemption on such date and the redemption price payable to the holder who presents the Note for redemption will be 100% of the principal amount of such Note and will not include any Interest. 
  
 At any time on or after [        ],
2010 and prior to [        ], 2012, the Notes may be redeemed at the option of the Company, in whole or in part, upon notice as set forth in the Indenture, at a cash redemption price equal to 100% of the
principal amount of the Notes being redeemed, together with accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption if the Closing Sale Price of the Common Stock has exceeded 150% of the applicable Conversion Price for
at least 20 Trading Days in any consecutive 30 Trading Day period ending on the Trading Day prior to the date of the mailing of the notice of redemption pursuant to the Indenture; provided that if the redemption date falls after a record date
and on or prior the corresponding interest payment date, then accrued and unpaid Interest, if any, to, but excluding, the date fixed for redemption shall be paid on such interest payment date to the holders of record of such Notes on the applicable
record date instead of the holders surrendering such Notes for redemption on such date and the redemption price payable to the holder who presents the Note for redemption will be 100% of the principal amount of such Note and will not include any
interest. 
  
 The Company may not give notice of any redemption of
the Notes if a default in the payment of Interest on the Notes has occurred and is continuing or if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date. 
  
 The Notes are not subject to redemption through the operation of any sinking
fund. 
  
 If a Designated Event occurs at any time prior to
maturity of the Notes, the Company shall become obligated to purchase, at the option of the holder, all or any portion of the Notes held by such holder, on a date specified by the Company that is thirty (30) days after notice thereof at a cash
repurchase price of 100% of the principal amount, plus any accrued and unpaid Interest, on such Note up to, but excluding, the Designated Event Repurchase Date; provided that if the repurchase date falls after a record date and on or prior
the corresponding interest payment date, then accrued and unpaid Interest to, but excluding, the Designated Event Repurchase Date shall be paid on such interest payment date to the holders of record of such Notes on the record date immediately
preceding the repurchase date instead of to the holders surrendering such Notes for repurchase on such date and the repurchase price payable to the holder who presents the Note for repurchase will be 100% of the principal amount and will not include
any Interest. The Notes will be subject to repurchase in multiples of $1,000 principal amount. The Company shall mail to all holders of record of the Notes a notice of the occurrence of a Designated Event and of the repurchase right arising as a
result 

  

 A-7 

 
thereof on or before the fifteenth day after the occurrence of such Designated Event. To exercise such right, a holder shall deliver to the Company such Note
with the form entitled “Designated Event Repurchase Notice” on the reverse thereof duly completed, together with the Note, duly endorsed for transfer, at any time prior to the close of business on the Designated Event
Repurchase Date, and shall deliver the Notes to the Trustee (or other paying agent appointed by the Company) as set forth in the Indenture. 
  
 Subject to the terms and conditions of the Indenture, the Company shall become obligated to purchase, at the option of the holder, all or any portion of
the Notes held by such holder on [        ] of 2012, 2015 and 2020 in whole multiples of $1,000 at a cash repurchase price of 100% of the principal amount, plus any accrued and unpaid Interest, on such Note up
to the Repurchase Date. However, if the repurchase date occurs after a record date and on or prior to the corresponding Interest payment date, the Company will pay accrued and unpaid Interest to, but excluding, the repurchase date to the record
holder on the record date immediately preceding the repurchase date and the repurchase price payable to the holder who presents the Note for repurchase will be 100% of the principal amount and will not include any Interest. To exercise such right, a
holder shall deliver to the Company such Note with the form entitled “Repurchase Notice” on the reverse thereof duly completed, together with the Note, duly endorsed for transfer, at any time from the opening of business on the date
that is 20 Business Days prior to such Repurchase Date until the close of business on the date that is two Business Days prior to the Repurchase Date, and shall deliver the Notes to the Trustee (or other paying agent appointed by the Company) as set
forth in the Indenture. 
  
 Holders have the right to withdraw any
Designated Event Repurchase Notice or the Repurchase Notice, as the case may be, by delivering to the Trustee (or other paying agent appointed by the Company) a written notice of withdrawal up to the close of business on the Designated Event
Repurchase Date or the Repurchase Date, as the case may be, all as provided in the Indenture. 
  
 If money or cash sufficient to pay the repurchase price of all Notes or portions thereof to be purchased as of the Designated Event Repurchase Date or the Repurchase Date, as the case may be, is deposited with the
Trustee (or other paying agent appointed by the Company), on the Designated Event Repurchase Date or the Repurchase Date, as the case may be, interest will cease to accrue on such Notes (or portions thereof) immediately after such Repurchase Date,
and the holder thereof shall have no other rights as such other than the right to receive the repurchase price upon surrender of such Note. 
  
 In compliance with the provisions of the Indenture, (1) subject to the prior redemption or repurchase of the Notes and to the occurrence of certain
events, prior to [            ], 2012 and (2) subject to prior redemption or repurchase of the Notes, on and after
[            ], 2012 and prior to the final maturity date of the Notes, regardless of the occurrence of the events referred to in clause (1) of this 

  

 A-8 

 
paragraph, the holder hereof has the right, at its option, to convert each $1,000 principal amount of the Notes into
[            ] shares of the Company’s Common Stock (a conversion price of approximately $[        ] per share) (or into cash or a combination
of cash and shares of Common Stock, if the Company so elects), as such shares shall be constituted at the date of conversion and subject to adjustment from time to time as provided in the Indenture, upon surrender of this Note with the form entitled
“Conversion Notice” on the reverse thereof duly completed, to the Company at the office or agency of the Company maintained for that purpose in accordance with the terms of the Indenture, or at the option of such holder, the
Corporate Trust Office, and, unless the shares issuable on conversion are to be issued in the same name as this Note, duly endorsed by, or accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the holder or by
his duly authorized attorney. The Company will notify the holder thereof of any event triggering the right to convert the Notes as specified above in accordance with the Indenture. 
  
 No adjustment in respect of interest on any Note converted or dividends on any shares issued upon conversion of such Note
will be made upon any conversion except as set forth in the next sentence. If this Note (or portion hereof) is surrendered for conversion during the period from the close of business on any record date for the payment of interest to the close of
business on the Business Day preceding the following interest payment date, this Note (or portion hereof being converted) must be accompanied by payment, in immediately available funds or other funds acceptable to the Company, of an amount equal to
the interest otherwise payable on such interest payment date on the principal amount being converted; provided that no such payment shall be required (1) if the Company has specified a redemption date that is after a record date and prior to
the next interest payment date, (2) if the Company has specified a Designated Event Repurchase Date that is during such period or (3) to the extent of any overdue Interest, if any overdue interest exists at the time of conversion with respect to
such Note. 
  
 No fractional shares will be issued upon any
conversion, but an adjustment and payment in cash will be made, as provided in the Indenture, in respect of any fraction of a share which would otherwise be issuable upon the surrender of any Note or Notes for conversion. 
  
 A Note in respect of which a holder is exercising its right to require
repurchase upon a Designated Event or repurchase on a Repurchase Date may be converted only if such holder withdraws its election to exercise either such right in accordance with the terms of the Indenture. 
  
 Any Notes called for redemption, unless surrendered for conversion by the
holders thereof on or before the close of business on the Business Day preceding the redemption date, may be deemed to be redeemed from the holders of such Notes for an amount equal to the applicable redemption price, together with accrued but
unpaid interest to, but excluding, the date fixed for redemption, by 

  

 A-9 

 
one or more investment banks or other purchasers who may agree with the Company (i) to purchase such Notes from the holders thereof and convert them into
shares of the Company’s Common Stock and (ii) to make payment for such Notes as aforesaid to the Trustee in trust for the holders. 
  
 Upon due presentment for registration of transfer of this Note at the office or agency of the Company maintained for that purpose in accordance with the
terms of the Indenture, a new Note or Notes of authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange thereof, subject to the limitations provided in the Indenture, without charge except for any
tax, assessment or other governmental charge imposed in connection therewith. 
  
 The Company, the Trustee, any authenticating agent, any paying agent, any conversion agent and any Note Registrar may deem and treat the registered holder hereof as the absolute owner of this Note (whether or not this
Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company or any Note Registrar) for the purpose of receiving payment hereof, or on account hereof, for the conversion hereof and
for all other purposes, and neither the Company nor the Trustee nor any other authenticating agent nor any paying agent nor other conversion agent nor any Note Registrar shall be affected by any notice to the contrary. All payments made to or upon
the order of such registered holder shall, to the extent of the sum or sums paid, satisfy and discharge liability for monies payable on this Note. 
  
 No recourse for the payment of the principal of or Interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse
under or upon any obligation, covenant or agreement of the Company in the Indenture or any supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder,
employee, agent, officer or director or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute
or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 
  
 This Note shall be deemed to be a contract made under the laws of New York,
and for all purposes shall be construed in accordance with the laws of New York, without regard to conflicts of laws principles thereof. 
  
 Terms used in this Note and defined in the Indenture are used herein as therein defined. 
  

 A-10 

  
 ABBREVIATIONS

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

					
	 TEN COM -
	  	as tenants in common	  	UNIF GIFT MIN ACT - ___ Custodian ___
	 TEN ENT -
	  	as tenant by the entireties	  	(Cust) (Minor)
	 JT TEN -
	  	as joint tenants with right of survivorship and not as tenants in common	  	under Uniform Gifts to Minors Act ____________________________
	 	  	 	  	                          (State)

  
 Additional
abbreviations may also be used though not in the above list. 
  

 A-11 

  
 CONVERSION NOTICE

  

	TO:	GSI COMMERCE, INC. 

	  	JPMORGAN CHASE BANK, NA 

  
 The undersigned registered owner of this Note hereby irrevocably exercises the option to convert this Note, or the portion thereof (which is $1,000 or a
multiple thereof) below designated, into shares of Common Stock of GSI Commerce, Inc. (subject to the Company’s settlement election rights) in accordance with the terms of the Indenture referred to in this Note, and directs that the shares
issuable and deliverable upon such conversion, together with any check in payment for (i) any portion of the Conversion Value that the Company elects to settle in cash and (ii) fractional shares and any Notes representing any unconverted principal
amount hereof, be issued and delivered to the registered holder hereof unless a different name has been indicated below. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. If shares, any
portion of this Note not converted or a check for cash are to be issued in the name of a person other than the undersigned, the undersigned will provide the appropriate information below and pay all transfer taxes payable with respect thereto. Any
amount required to be paid by the undersigned on account of interest, including contingent interest, if any, accompanies this Note. 
  
 Dated:
                             
  

	
	
	 
	
	 
	 Signature(s)

	
	Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation
in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with
the Securities Exchange Act of 1934, as amended.
	
	 
	 Signature Guarantee

  

 A-12 

 Fill in the registration of shares of Common Stock if to be issued, Notes if to be delivered, and check
if to be issued other than to and in the name of the registered holder: 
  

	
	
	  
	 (Name)

	
	  
	 (Street Address)

	
	  
	 (City, State and Zip Code)

	
	  
	 Please print name and address

	
	 Principal amount to be converted
(if less than all):

	
	 $__________________________________

	
	Social Security or Other Taxpayer Identification Number:
	
	  

  

 A-13 

  
 DESIGNATED EVENT
REPURCHASE NOTICE 
  

	TO:	GSI COMMERCE, INC. 

	  	JPMORGAN CHASE BANK, NA 

  
 The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a notice from GSI Commerce, Inc. (the “Company”)
regarding the right of holders to elect to require the Company to repurchase the Notes upon the occurrence of a Designated Event with respect to the Company and requests and instructs the Company to repay the entire principal amount of this Note, or
the portion thereof (which is $1,000 or an integral multiple thereof) below designated, in accordance with the terms of the Indenture at the price of 100% of such entire principal amount or portion thereof, together with accrued Interest to, but
excluding, the Designated Event Repurchase Date, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Notes shall be repurchased by the Company as of the
portion thereof, together with accrued interest to, but excluding, the Designated Event Repurchase Date pursuant to the terms and conditions specified in the Indenture. 
  
 $             principal amount of the Notes to which this Designated Event
Repurchase Notice relates (if less than entire principal amount) 
  
 Dated: 
  
 Signature(s): 
  
 NOTICE: The above signatures of the holder(s) hereof must correspond with the
name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever. 
  
 Note Certificate Number (if applicable): 
  
 Principal amount to be repurchased (if less than all): 
  
 Social Security or Other Taxpayer Identification Number: 
  

 A-14 

  
 REPURCHASE NOTICE

  

	TO:	GSI COMMERCE, INC. 

	  	JPMORGAN CHASE BANK, NA 

  
 The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a notice from GSI Commerce, Inc. (the “Company”) regarding the right of holders to elect to require the Company
to repurchase the Notes and requests and instructs the Company to repay the entire principal amount of this Note, or the portion thereof (which is $1,000 or an integral multiple thereof) below designated, in accordance with the terms of the
Indenture at the price of 100% of such entire principal amount or portion thereof, together with accrued Interest to, but excluding, the Repurchase Date, to the registered holder hereof. Capitalized terms used herein but not defined shall have the
meanings ascribed to such terms in the Indenture. The Notes shall be repurchased by the Company as of the Repurchase Date pursuant to the terms and conditions specified in the Indenture. 
  
 $             principal amount of the Notes to which this Repurchase Notice
relates (if less than entire principal amount) 
  
 Dated:

  
 Signature(s): 
  
 NOTICE: The above signatures of the holder(s) hereof must correspond with the
name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever. 
  
 Note Certificate Number (if applicable): 
  
 Principal amount to be repurchased (if less than all): 
  
 Social Security or Other Taxpayer Identification Number: 
  

 A-15 

  
 ASSIGNMENT 

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

  

	
	
	 
	
	 
	 Signature(s)

	
	Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation
in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, al in accordance with
the Securities Exchange Act of 1934, as amended.
	
	 
	 Signature Guarantee

  
 NOTICE: The signature on the
Conversion Notice, the Designated Event Repurchase Notice, the Repurchase Notice or the Assignment must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

  

 A-16 

 Schedule I 
  
 GSI COMMERCE INC. 
 [    ]%
Convertible Note due 2025 
  
 No.
             
  
 The original principal amount of this Note is $[                        ] MILLION DOLLARS
($[            ]). The principal amount has been adjusted in accordance with the terms of the Indenture as set forth below: 
  

							
	 Date

	  	 Principal Amount

	  	 Notation Explaining Principal
Amount Recorded

	 	 Authorized Signature
of Trustee or
Custodian

	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 
	 	  	 	  	 	 	 

  

 A-17Third Amendment to the Preferred Stock Rights Agreement

 EXHIBIT 4.4 
  

THIRD AMENDMENT 
  
 to the 
  
 PREFERRED STOCK RIGHTS AGREEMENT 
  
 between 
  
 AVANEX
CORPORATION 
  
 and 
  
 EQUISERVE TRUST COMPANY, N.A. 
  
 This Third Amendment (the “Third Amendment”) to the Preferred Stock
Rights Agreement is made and entered into as of May 16, 2005 between AVANEX CORPORATION, a Delaware corporation (the “Company”), and EQUISERVE TRUST COMPANY, N.A., a national banking association, as Rights Agent (the “Rights
Agent”). 
  
 R E C I T A L S 
  
 WHEREAS, the Company and the Rights Agent entered into the Preferred Stock
Rights Agreement dated as of July 26, 2001, as amended as of March 18, 2002 and May 12, 2003 (the “Rights Agreement”); 
  
 WHEREAS, Section 27 of the Rights Agreement provides that, prior to the Distribution Date (as defined in the Rights Agreement), the Company may supplement
or amend the Rights Agreement in any respect without the approval of any holders of Rights; 
  
 WHEREAS, the Company and certain Investors of the Company (as defined below) intend to enter into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which, among other things, the Company
will issue to the Investors Senior secured convertible notes convertible into the Common Stock of the Company and warrants to purchase Common Stock of the Company (the issuance of such notes and warrants, and the issuance of Common Stock of the
Company upon conversion of such notes and exercise of such warrants, are referred to hereafter as the “Securities Issuances”); 
  
 WHEREAS, on May 12, 2005, the Board of Directors of the Company resolved to amend the Rights Agreement, among other things, to render the Rights
inapplicable to the Securities Issuances and the other transactions contemplated by the Purchase Agreement; and 
  

 WHEREAS, the Company intends to modify the terms of the Rights Agreement in certain respects as set forth
herein, and in connection therewith, is entering into this Third Amendment and directing the Rights Agent to enter into this Third Amendment. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

  
 1. Capitalized Terms. All capitalized, undefined terms
used in this Third Amendment shall have the meanings assigned thereto in the Rights Agreement. 
  
 2. Amendments. 
  
 (a) Section 1(a) of the Rights Agreement is hereby amended by adding the following new paragraph to the end of Section 1(a): 
  
 “Notwithstanding anything in this Agreement that might otherwise be deemed to the contrary, none of the investors of the Company
listed on Exhibit D attached hereto (the “Investors”), nor any of their Affiliates or Associates, shall be deemed to be an Acquiring Person solely by reason of (i) the approval, execution or delivery of, or the consummation of the
transactions contemplated by, (A) the Securities Purchase Agreement dated as of May 16, 2005, by and among the Company and the Investors, including any amendment or supplement thereto (the “Purchase Agreement”), or (B) the Transaction
Documents (as defined in the Purchase Agreement); or (ii) the announcement or consummation of the Purchase Agreement or the Transaction Documents or the announcement or issuance of the Securities (as defined in the Purchase Agreement).”

  
 (b) Section 21 of the Rights Agreement is
hereby amended by adding the following new sentence after the current first sentence of Section 21: 
  
 “In the event that the transfer agency relationship in effect between the Company and the Rights Agent terminates, the Rights Agent
will be deemed to resign automatically on the effective date of such termination; and any notice required by the preceding sentence will be sent by the Company.” 
  
 (c) The Rights Agreement is hereby amended by adding a new Section 35 as follows: 
  
 “35. Force Majeure. 
  
 Notwithstanding anything to the contrary contained herein,
Rights Agent shall not be liable for any delays or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, shortage of supply, breakdowns or malfunctions, interruptions or
malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest.” 
  

 3. Effective Date. This Third Amendment shall become effective as of the date first above written
but such effectiveness is contingent upon (a) the execution of this Third Amendment by the Company and authorization by the Board of Directors of the Company approving the Third Amendment, and (b) the execution and delivery of this Third Amendment
by the Rights Agent. 
  
 4. Effect of Amendment. Except as
expressly provided herein, the Rights Agreement shall be and remain in full force and effect. 
  
 5. Governing Law. This Third Amendment shall be governed by, construed and enforced in accordance with the laws of the State of Delaware without reference to the conflicts or choice of law principles thereof.

  
 6. Counterparts. This Third Amendment may be executed
in separate counterparts, each of which when executed and delivered is an original but all of which taken together constitute one and the same instrument. 
  
 7. Fax Transmission. A facsimile, telecopy or other reproduction of this Third Amendment may be executed by one or more parties hereto, and an
executed copy of this Third Amendment may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution
and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of the Third Amendment as well as any facsimile, telecopy or other reproduction
thereof. 
  
 8. Certification. The undersigned officer of
the Company, being an appropriate officer of the Company and authorized to do so by resolution of the Board of Directors of the Company duly adopted and approved at a meeting held May 12, 2005, hereby certifies to the Rights Agent that this
amendment is in compliance with Section 27 of the Rights Agreement. 
  

 IN WITNESS WHEREOF, the Company and the Rights Agent have caused this Third Amendment to be duly executed
as of the day first above written. 
  

			
	 AVANEX CORPORATION

		
	By:	 	/s/    W. BRIAN
KINARD          
	 Name:
	 	W. Brian Kinard
	 Title:
	 	Vice President, General Counsel
	
	 EQUISERVE TRUST COMPANY, N.A.,
 as Rights Agent

		
	By:	 	/s/    KATHERINE
ANDERSON          
	 Name:
	 	Katherine Anderson
	 Title:
	 	Managing Director–Client Administration

  

 EXHIBIT D 
  
 Investors 
  
 Steelhead Investments Ltd. 
 Kings Road Investments Ltd. 
 Gryphon Master Fund, L.P. 
 GSSF Master Fund, LP 
 Castlerigg Master Investments Ltd.

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