Document:

exv4w2

Exhibit 4.2

WINTRUST FINANCIAL CORPORATION,

as Issuer

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

First Supplemental Indenture

Dated as of December 10, 2010

Supplement to Junior Subordinated Indenture of Wintrust Financial Corporation

dated as of December 10, 2010

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 DEFINITIONS
	 	 	2	 
	 
	 	 	 	 
	Section 1.01 Definition of Terms
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2 GENERAL TERMS AND CONDITIONS OF THE NOTES
	 	 	4	 
	 
	 	 	 	 
	Section 2.01 Designation, Principal Amount and Original Issuance
	 	 	4	 
	Section 2.02 Form, Payment and Appointment
	 	 	4	 
	Section 2.03 Installment Payments
	 	 	4	 
	Section 2.04 Discharge and Defeasance
	 	 	6	 
	Section 2.05 No Sinking Fund
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 3 REDEMPTION
	 	 	6	 
	 
	 	 	 	 
	Section 3.01 Redemption
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 4 FORM OF NOTE
	 	 	7	 
	 
	 	 	 	 
	Section 4.01 Form of Note
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 5 DEFAULTS
	 	 	7	 
	 
	 	 	 	 
	Section 5.01 Events of Default
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 6 TAX TREATMENT
	 	 	7	 
	 
	 	 	 	 
	Section 6.01 Tax Treatment
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 7 SUBORDINATION
	 	 	7	 
	 
	 	 	 	 
	Section 7.01 Subordination
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 8 MISCELLANEOUS
	 	 	7	 
	 
	 	 	 	 
	Section 8.01 Ratification of Indenture
	 	 	7	 
	Section 8.02 Trustee Not Responsible for Recitals
	 	 	7	 
	Section 8.03 New York Law to Govern; Waiver of Jury Trial
	 	 	8	 
	Section 8.04 Separability
	 	 	8	 
	Section 8.05 Counterparts
	 	 	8	 
	Section 8.06 Amendments, Supplements and Waivers
	 	 	8	 

Exhibit A — Form of Note

i

 

     FIRST SUPPLEMENTAL INDENTURE, dated as of December 10, 2010 (this “First Supplemental
Indenture”), between WINTRUST FINANCIAL CORP., an Illinois corporation (the “Company,”
which term includes any successor as permitted in accordance with the terms of the Indenture
hereafter referred to), and U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but
solely as trustee (the “Trustee”) under the Junior Subordinated Indenture, dated as of
December 10, 2010, between the Company and the Trustee (the “Base Indenture,” and the Base
Indenture, as supplemented by this First Supplemental Indenture, the “Indenture”).

W I T N E S S E T H

     WHEREAS, the Company has duly authorized the execution and delivery of the Base Indenture, to
provide for the issuance from time to time of its unsecured junior subordinated debentures, notes
or other evidences of indebtedness to be issued in one or more series (the “Securities”),
as provided in the Base Indenture, up to such principal amount or amounts as may from time to time
be authorized in or pursuant to one or more resolutions of the Board of Directors;

     WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the
establishment of a new series of its Securities to be known as its “9.50% Junior Subordinated
Amortizing Notes due December 15, 2013,” the form of such Securities and the terms, provisions and
conditions thereof to be set forth as provided in this First Supplemental Indenture;

     WHEREAS, the Company has requested that the Trustee execute and deliver this First
Supplemental Indenture;

     WHEREAS, all requirements necessary to make this First Supplemental Indenture a valid, binding
and enforceable instrument in accordance with its terms, and to make the Notes, when executed,
authenticated and delivered by the Company, the valid, binding and enforceable obligations of the
Company, have been done and performed; and

     WHEREAS, the execution and delivery of this First Supplemental Indenture has been duly
authorized in all respects by a Board Resolution of the Company.

     NOW THEREFORE, in consideration of the purchase and acceptance of the Notes by the Holders
thereof, and for the purpose of setting forth, as provided in the Base Indenture, the form and
terms of the Notes, the Company covenants and agrees with the Trustee as follows:

ARTICLE 1

DEFINITIONS

     Section 1.01 Definition of Terms. Unless the context otherwise requires (including
for purposes of the Recitals):

     (a) a term defined in the Base Indenture has the same meaning when used in this First
Supplemental Indenture unless otherwise specified herein;

     (b) a term defined anywhere in this First Supplemental Indenture has the same meaning
throughout;

     (c) the definition of any term in this First Supplemental Indenture that is also defined in
the Base Indenture shall for the purposes of this First Supplemental Indenture supersede the
definition of such term in the Base Indenture;

     (d) the definition of a term in this First Supplemental Indenture is not intended to have any
effect on the meaning or definition of an identical term that is defined in the Base Indenture
insofar as the use or effect of such term in the Base Indenture, as previously defined, is
concerned;

2

 

     (e) the singular includes the plural and vice versa;

     (f) headings are for convenience of reference only and do not affect interpretation; and

     (g) the following terms have the meanings given to them in this Section 1.01(g):

     “Base Indenture” shall have the meaning set forth in the first paragraph of this First
Supplemental Indenture.

     “Company” shall have the meaning set forth in the first paragraph of this First
Supplemental Indenture.

     “DTC” means The Depository Trust Company.

     “Event of Default” shall have the meaning set forth in Section 5.01.

     “Extension Period” shall have the meaning set forth in Section 2.03(c)(i).

     “Fundamental Change” shall have the meaning set forth in the Purchase Contract
Agreement.

     “Global Note” shall have the meaning set forth in Section 2.02.

     “Holder” means a holder of Notes, unless otherwise indicated.

     “Indenture” shall have the meaning set forth in the first paragraph of this First
Supplemental Indenture.

     “Installment Payment Date” means each March 15, June 15, September 15 and December 15,
commencing on March 15, 2011.

     “Installment Payment Period” means the period from, and including, the Issue Date to,
but excluding, the first Installment Payment Date and each subsequent full quarterly period from,
and including, an Installment Payment Date to, but excluding, the immediately succeeding
Installment Payment Date.

     “Issue Date” means December 10, 2010.

     “Note” and “Notes” shall have the respective meanings set forth in Section
2.01.

     “Paying Agent” shall initially mean the Trustee.

     “Prospectus Supplement” means the Prospectus Supplement dated December 7, 2010,
related to the Units.

     “Purchase Contract Agreement” means the Purchase Contract Agreement, dated as of
December 10, 2010, among the Company, U.S. Bank National Association, as purchase contract agent,
and U.S. Bank National Association, as Trustee under the Indenture.

     “Purchase Contracts” shall have the meaning set forth in the Purchase Contract
Agreement.

     “Registrar” shall initially mean the Trustee.

     “Regular Record Date” shall mean the close of business on the Business Day immediately
preceding the related Installment Payment Date or, if the Notes do not remain in book-entry form, a
date selected by the Company, which shall be more than 14 days but less than 60 days prior to the
relevant Installment Payment Date.

     “Trustee” shall have the meaning set forth in the first paragraph of this First
Supplemental Indenture.

     “Securities” shall have the meaning set forth in the first recital of this First
Supplemental Indenture.

3

 

     “Unit” shall have the meaning set forth in the Purchase Contract Agreement.

     Section 1.02 Establishment of New Series. Pursuant to Section 2.03 of the Base
Indenture, there is hereby established the Notes having the terms set forth in the Base Indenture
as supplemented, amended or replaced by the terms of this First Supplemental Indenture and as set
forth in the form of Note attached to this First Supplemental Indenture as Exhibit A, which is
incorporated herein as a part of this First Supplemental Indenture.

ARTICLE 2

GENERAL TERMS AND CONDITIONS OF THE NOTES

     Section 2.01 Designation, Principal Amount and Original Issuance. There is hereby
authorized a series of Securities designated as the 9.50% Junior Subordinated Amortizing Notes due
2013 (the “Notes,” and “Note” means each note of such series having an initial
principal amount of $9.728182) limited in aggregate initial principal amount to $38,912,728 (or
$44,749,637.20 if the overallotment option is exercised in full), except for Notes authenticated,
executed and delivered upon registration of transfer of, in exchange for, or in lieu of, other
Notes pursuant to Section 2.07, Section 2.08, Section 2.10 or Section 9.04 of the Base Indenture.
The Notes, upon execution of this First Supplemental Indenture, shall be executed by the Company
and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and
deliver said Notes in accordance with an Officers’ Certificate.

     Section 2.02 Form, Payment and Appointment. The Notes will initially be issued in the
form of one or more Registered Global Securities in fully registered, permanent global form without
coupons (each, a “Global Note”), and deposited with the Trustee as custodian for the
Depositary, which shall be DTC or such other depositary as any Officer of the Company may from time
to time designate, and the Global Note shall be registered in the name of the Depositary. Unless
and until such Global Note is exchanged for Notes in registered form, Global Notes may be
transferred, in whole or in part, only to the Depositary or a nominee of the Depositary, or to a
successor Depositary selected or approved by the Company or to a nominee of such successor
Depositary.

     Installments on the Notes will be payable, the transfer of such Notes will be registrable and
such Notes will be exchangeable for Notes of a like aggregate principal amount bearing identical
terms and provisions at the office or agency of the Company maintained for such purpose in St.
Paul, Minnesota, which shall initially be the Corporate Trust Office of the Trustee.

     The Registrar and Paying Agent for the Notes shall initially be the Trustee.

     The Notes shall be issuable in denominations of one Note and integral multiples in excess
thereof.

     Section 2.03 Installment Payments.

     (a) Installment Payment Dates. On each Installment Payment Date, other than the
Installment Payment Date occurring on March 15, 2011, the Company shall pay, in cash, equal
quarterly installment payments of $0.9375 on each Note, subject to the Company’s right to extend
the Installment Payment Period at any time and from time to time under the circumstances, and
subject to the conditions, set forth in Section 2.03(c). On the Installment Payment Date occurring
on March 15, 2011, the Company shall pay, in cash, a quarterly installment payment of $0.989583 on
each Note, subject to the Company’s right to extend such Installment Payment Period at any time and
from time to time under the circumstances, and subject to the conditions, set forth in Section
2.03(c).

     (b) Installment Payment Amount. Each installment payment shall constitute a payment
of interest (at a rate of 9.50% per annum) and a partial repayment of principal on the Note,
allocated as set forth in the schedule below.

4

 

	 	 	 	 	 	 	 	 	 
	Scheduled Installment Payment Date	 	Amount of Principal	 	Amount of Interest
	March 15, 2011
	 	$	0.745703	 	 	$	0.243880	 
	June 15, 2011
	 	$	0.724166	 	 	$	0.213334	 
	September 15, 2011
	 	$	0.741365	 	 	$	0.196135	 
	December 15, 2011
	 	$	0.758973	 	 	$	0.178527	 
	March 15, 2012
	 	$	0.776998	 	 	$	0.160502	 
	June 15, 2012
	 	$	0.795452	 	 	$	0.142048	 
	September 15, 2012
	 	$	0.814344	 	 	$	0.123156	 
	December 15, 2012
	 	$	0.833684	 	 	$	0.103816	 
	March 15, 2013
	 	$	0.853484	 	 	$	0.084016	 
	June 15, 2013
	 	$	0.873755	 	 	$	0.063745	 
	September 15, 2013
	 	$	0.894506	 	 	$	0.042994	 
	December 15, 2013
	 	$	0.915751	 	 	$	0.021749	 

     Each installment payment in respect of the Notes shall be treated, for purposes of the Base
Indenture and this Supplemental Indenture, as a partial payment of principal and a payment of
interest, in each case, in an amount equal to the relevant amount set forth under the heading
“Amount of Principal” and the heading “Amount of Interest” in the table above.

     Each installment payment for any Installment Payment Period shall be computed by the Company
on the basis of a 360-day year of twelve 30-day months. If an installment payment is payable for
any period shorter than a full Installment Payment Period, such installment payment shall be
computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any
date on which an installment payment is payable is not a Business Day, then the installment payment
on such date will be made on the next succeeding day that is a Business Day, and without any
interest or other payment in respect of any such delay. However, if such Business Day is in the
next succeeding calendar year, then such installment payment shall be made on the immediately
preceding Business Day, in each case with the same force and effect as if made on such date.

     (c) Option To Extend Installment Payment Period.

          (i) The Company may defer installment payments, at any time and from time to time, by
extending the Installment Payment Period, so long as such period of time does not extend beyond
December 15, 2015 (the “Extension Period”). The Company may end an Extension Period on any
Installment Payment Date occurring on or before December 15, 2013 or, in the case of an Extension
Period that extends beyond December 15, 2013, on any Business Day thereafter that is on or before
December 15, 2015.

          (ii) At the end of any Extension Period, the Company shall pay all installment payments for
which the related Installment Payment Date occurred during such Extension Period, together with
interest on the full amount of such installment payments compounded quarterly at the rate of 9.50%
per annum, to the extent permitted by applicable law. The Company shall give holders of Units and
Holders of Notes at least 10 Business Days’ notice prior to the end of an Extension Period.

          (iii) Prior to the termination of any Extension Period, the Company may further defer
installment payments by extending such Extension Period. Such Extension Period, including all such
previous and further extensions, may not extend beyond December 15, 2015. Upon the termination of
any Extension Period and the payment of all amounts then due, the Company may commence a new
Extension Period, if consistent with the terms set forth in this Section 2.03(c). No installment
payment (or interest thereon) during an Extension Period, except at the end of such Extension
Period, shall be due and payable.

          (iv) The Company shall give the holders of Units, Holders of Notes and the Trustee notice of
its election of an Extension Period (or any extension thereof) at least 10 Business Days prior to
the earlier of (x) the

5

 

next succeeding Installment Payment Date; or (y) the date upon which the
Company is required to give notice to Holders of Notes of the Regular Record Date or Installment
Payment Date.

     (d) Restrictions Applicable During an Extension Period and Certain Other
Circumstances.

          (i) If (x) there shall have occurred and be continuing an Event of Default or a default in
respect of any of the Company’s payment obligations under the Indenture in relation to the Notes or
(y) the Company shall have given notice of its election to defer installment payments on the Notes
by extending the Installment Payment Period, and such Installment Payment Period, or any extension
of such Installment Payment Period, shall be continuing, then:

               (A) the Company and its Subsidiaries shall not declare or pay any dividend on, make any
distributions relating to, or redeem, purchase, acquire or make a liquidation payment relating to,
any of the Company’s capital stock or make any guarantee payment with respect thereto other than:

                    (1) purchases, redemptions or other acquisitions of shares of capital stock of the Company in
connection with any employment contract, benefit plan or other similar arrangement with or for the
benefit of employees, officers, directors or consultants;

                    (2) purchases of shares of the Company’s common stock pursuant to a contractually binding
requirement to buy stock existing prior to the commencement of the Extension Period, including
under a contractually binding stock repurchase plan;

                    (3) as a result of an exchange or conversion of any class or series of the Company’s capital
stock for any other class or series of the Company’s capital stock;

                    (4) the purchase of fractional interests in shares of the Company’s capital stock pursuant to
the conversion or exchange provisions of such capital stock or the security being converted or
exchanged; or

                    (5) purchases of the Company’s capital stock in connection with the distribution thereof; and

               (B) the Company and its Subsidiaries shall not make any payment of interest or principal on,
or repay, purchase or redeem, any debt securities or guarantees issued by the Company that rank
equally with or junior to the Notes other than pro rata payments of accrued and unpaid interest on
the Notes and any other debt securities or guarantees issued by the Company that rank equally with
the Notes, except and to the extent the terms of any such debt securities would prohibit the
Company from making such pro rata payment.

     These foregoing restrictions shall not apply to any stock dividends paid by the Company where
the dividend stock is the same stock as, or junior to, that stock on which the dividend is being
paid.

     Section 2.04 Discharge and Defeasance. For the avoidance of doubt, the provisions of
Article 8 of the Base Indenture (Satisfaction and Discharge of Indenture; Unclaimed Moneys) shall
apply to the Notes.

     Section 2.05 No Sinking Fund. The Notes are not entitled to the benefit of any
sinking fund.

ARTICLE 3

REDEMPTION

     Section 3.01 Redemption. Article 3 of the Base Indenture (Redemption) shall not apply
to the Notes.

6

 

ARTICLE 4

FORM OF NOTE

     Section 4.01 Form of Note. The Notes and the Trustee’s Certificate of Authentication
to be endorsed thereon are to be substantially in the forms attached as Exhibit A hereto, with such
changes therein as the Officers of the Company executing the Notes (by manual, facsimile, pdf or
other electronically transmitted signature) may approve, such approval to be conclusively evidenced
by their execution thereof.

ARTICLE 5

DEFAULTS

     Section 5.01 Events of Default.

     (a) In addition to the Events of Default set forth in Section 6.01(b), Section 6.01(c) and
Section 6.01(d) of the Base Indenture, it shall be an “Event of Default” with respect to
the Notes if there is a default in the payment in full of all deferred installment payments on the
Notes on or by December 15, 2015 and continuance of such failure to pay for a period of 30 days.

     (b) The Events of Default specified in Section 6.01(a) of the Base Indenture shall not apply
with respect to the Notes.

     (c) There is no right of acceleration upon the occurrence of the additional Event of Default
described in clause (a) of this Section 5.01 or, for the avoidance of doubt, as described in
Section 6.01(b) of the Base Indenture. In addition, any deferral of installment payments made in
accordance with the provisions of Section 2.03(c) shall not constitute an Event of Default or a
default in the related payment obligation hereunder.

ARTICLE 6

TAX TREATMENT

     Section 6.01 Tax Treatment. The Company and each Holder agrees, and by acceptance of
a beneficial ownership interest in the Notes, each beneficial owner of a beneficial ownership
interest in the Notes will be deemed to have agreed, for U.S. federal, state and local tax
purposes, to treat the Notes as indebtedness of the Company.

ARTICLE 7

SUBORDINATION

     Section 7.01 Subordination. The provisions of Article 11 of the Base Indenture
(Subordination of Securities) shall apply to the Notes.

ARTICLE 8

MISCELLANEOUS

     Section 8.01 Ratification of Indenture. The Indenture, as supplemented by this First
Supplemental Indenture, is in all respects ratified and confirmed, and this First Supplemental
Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein
provided.

     Section 8.02 Trustee Not Responsible for Recitals. The recitals contained herein and
in the Notes (except the Trustee’s certificate of authentication) shall be taken as statements of
the Company and not of the Trustee and the Trustee assumes no responsibility for the correctness of
the same. Neither the Trustee nor any of its agents (a) makes any representation as to the validity
or adequacy of this First Supplemental Indenture or the Notes and (b) shall be accountable for the
Company’s use or application of the proceeds from the Notes.

7

 

     Section 8.03 New York Law to Govern; Waiver of Jury Trial. THIS FIRST SUPPLEMENTAL
INDENTURE AND THE NOTES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS
FIRST SUPPLEMENTAL INDENTURE OR THE NOTES, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF).
EACH OF THE COMPANY AND THE TRUSTEE, AND EACH HOLDER OF A SECURITY BY ITS ACCEPTANCE THEREOF,
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT
MAY HAVE TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

     Section 8.04 Separability. In case any provision in this First Supplemental Indenture
or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

     Section 8.05 Counterparts. This First Supplemental Indenture may be executed in any
number of counterparts, each of which shall be an original, but such counterparts shall together
constitute one and the same instrument.

     Section 8.06 Amendments, Supplements and Waivers. In addition to the circumstances
set forth in Section 9.01 of the Base Indenture, the Company and the Trustee may amend or
supplement the Base Indenture, this First Supplemental Indenture or the Notes without notice to or
the consent of any Holder to conform the provisions of the Base Indenture, this First Supplemental
Indenture or the Notes to the “Description of the Amortizing Notes” section of the Prospectus
Supplement.

[SIGNATURES ON THE FOLLOWING PAGES]

8

 

     IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed by their respective officers thereunto duly authorized, on the date or dates
indicated in the acknowledgments and as of the day and year first above written.

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	/s/ David A. Dykstra
 	 
	 	 	Name:  	David A. Dykstra 	 
	 	 	Title:  	Senior Executive Vice President,
Chief Operating Officer, Secretary and Treasurer 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ William Bryan Echols
 	 
	 	 	Name:  	William Bryan Echols 	 
	 	 	Title:  	Vice President 	 

9

 

	 	 	 	 	 

EXHIBIT A

[FORM OF FACE OF NOTE]

[INCLUDE IF A GLOBAL NOTE]

     [THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY. THIS REGISTERED GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME
OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE
BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS REGISTERED GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.]

A-1

 

WINTRUST FINANCIAL CORPORATION

9.50% JUNIOR SUBORDINATED AMORTIZING NOTES

DUE DECEMBER 15, 2013

REGISTERED

CUSIP: 97650WAE8

ISIN: US97650WAE84

	 	 	 

	No.                                        

	 	[Initial]1 Number of Notes                                         

     WINTRUST FINANCIAL CORPORATION, an Illinois corporation (the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value
received, hereby promises to pay to CEDE & CO., or registered assigns, the initial principal sum of
$9.728182 for each of the number of Notes set forth above[, or such other number of Notes as set
forth in the Schedule of Increases or Decreases in Global Note attached hereto, which shall not
exceed [     ]]2 in quarterly installment payments (each constituting a payment of
interest at the rate per year of 9.50% and a partial repayment of principal) payable on March 15,
June 15, September 15 and December 15 of each year (each such date, an “Installment Payment
Date” and the period from, and including, December 10, 2010 to, but excluding, the first
Installment Payment Date and each subsequent full quarterly period from and including an
Installment Payment Date to, but excluding, the immediately succeeding Installment Payment Date, an
“Installment Payment Period”), commencing on March 15, 2011, all as set forth on the
reverse hereof, with the final installment payment due and payable on December 15, 2013, subject to
the Company’s right to defer such payments in accordance with the terms of the Indenture. The
installment payments payable on any Installment Payment Date shall be computed on the basis of a
360-day year consisting of twelve 30-day months. If an installment payment is payable for any
period shorter than a full Installment Payment Period, such installment payment shall be computed
on the basis of the actual number of days elapsed per 30-day month. In the event that any date on
which an installment payment is payable is not a Business Day, then the installment payment on such
date will be made on the next succeeding day that is a Business Day, and without any interest or
other payment in respect of any such delay. However, if such Business Day is in the next succeeding
calendar year, then such installment payment shall be made on the immediately preceding Business
Day, in each case with the same force and effect as if made on such date. Installment payments
shall be paid to the person in whose name the Note is registered at the close of business on the
Business Day immediately preceding the related Installment Payment Date (each, a “Regular
Record Date”) in accordance with the terms of the Indenture. If the Notes do not remain in the
form of Registered Global Securities, the Company shall have the right to select Regular Record
Dates, which will be more than 14 days but less than 60 days prior to the relevant Installment
Payment Date.

     Installments shall be payable at the office or agency of the Company maintained for that
purpose in accordance with the provisions of the Indenture.

     This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or
be valid or obligatory for any purpose until the Certificate of Authentication shall have been
signed by or on behalf of the Trustee.

     The provisions of this Note are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place.

 

			
	1	 	Include if a Global Note.
	 
	2	 	Include if a Global Note.

A-2

 

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

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION,

as Issuer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: 	 

A-3

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

	 	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 

A-4

 

	 	 	 	 	 

[FORM OF REVERSE OF NOTE]

WINTRUST FINANCIAL CORPORATION

     This Note is one of a duly authorized series of Securities of the Company designated as its
“9.50% Junior Subordinated Amortizing Notes due 2013” (herein referred to as the “Notes”),
issued under the Junior Subordinated Indenture, dated as of December 10, 2010, between the Company
and U.S. Bank National Association, as trustee (the “Trustee,” which term includes any
successor trustee under the Indenture) (the “Base Indenture,” and the Base Indenture, as
supplemented by the First Supplemental Indenture, dated as of December 10, 2010, (the
“Supplemental Indenture”), between the Company and the Trustee, the “Indenture”),
to which Indenture 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. The
terms of other series of Securities issued under the Indenture may vary with respect to interest
rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided
in the Indenture. The Base Indenture further provides that securities of a single series may be
issued at various times, with different maturity dates and may bear interest at different rates.
This series of Securities is limited in aggregate principal amount as specified in said First
Supplemental Indenture.

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     Each installment shall constitute a payment of interest (at a rate of 9.50% per annum)
and a partial repayment of principal on the Note, allocated as set forth in the schedule below:

	 	 	 	 	 	 	 	 	 
	Scheduled Installment Payment Date	 	Amount of Principal	 	Amount of Interest
	March 15, 2011
	 	$	0.745703	 	 	$	0.243880	 
	June 15, 2011
	 	$	0.724166	 	 	$	0.213334	 
	September 15, 2011
	 	$	0.741365	 	 	$	0.196135	 
	December 15, 2011
	 	$	0.758973	 	 	$	0.178527	 
	March 15, 2012
	 	$	0.776998	 	 	$	0.160502	 
	June 15, 2012
	 	$	0.795452	 	 	$	0.142048	 
	September 15, 2012
	 	$	0.814344	 	 	$	0.123156	 
	December 15, 2012
	 	$	0.833684	 	 	$	0.103816	 
	March 15, 2013
	 	$	0.853484	 	 	$	0.084016	 
	June 15, 2013
	 	$	0.873755	 	 	$	0.063745	 
	September 15, 2013
	 	$	0.894506	 	 	$	0.042994	 
	December 15, 2013
	 	$	0.915751	 	 	$	0.021749	 

     Installment payments may be deferred by the Company in accordance with the provisions of
Section 2.03(c) of the Supplemental Indenture.

     This Note will not be subject to redemption at the option of the Company.

     This Note is not entitled to the benefit of any sinking fund.

     The Indenture contains provisions for defeasance and covenant defeasance at any time of the
indebtedness on this Note upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Note.

     If an Event of Default relating to specified events of bankruptcy, insolvency or
reorganization, or court appointment of a receiver, liquidator or trustee of the Company occurs and
is continuing, then and in each such case either the Trustee or the Holders of not less than 25% in
aggregate initial principal
amount of the Notes then outstanding, by notice in writing to the
Company (and to the Trustee if given by Holders), may declare the principal

A-5

 

 amount of all the Notes
to be due and payable immediately, and upon any such declaration the same shall become immediately
due and payable. This provision, however, is subject to the condition that, at any time after such
a declaration of acceleration, and before any judgment or decree for the payment of the money due
shall have been obtained or entered, 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
and rescind and annul such declaration and its consequences, if certain conditions are met as set
forth in the Indenture.

     There is no right of acceleration upon the occurrence of an Event of Default described in
Section 5.01(a) of the Supplemental Indenture or as described in Section 6.01(b) of the Base
Indenture.

     In the case of an Event of Default relating to the default by the Company in the payment in
full of all deferred installment payments on the Notes on or by December 15, 2015 and continuance
of such failure to pay for a period of 30 days, 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, premium, if any, or interest, or any
combination thereof, as the case may be, with interest upon the overdue principal 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; and, in addition, such further amount as
shall be sufficient to cover the costs and expenses of collection, including reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents, attorneys and
counsel. If the Company does not pay such amounts upon such demand, the Trustee shall be entitled
and empowered to institute any actions or proceeding 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 money adjudged or decreed to be payable.

     The Indenture permits, with certain exceptions as therein provided, the Company and the
Trustee, with the consent of the Holders of not less than a majority in principal amount of the
Securities at the time outstanding of each series issued under the Indenture to be affected
thereby, to execute supplemental indentures for certain purposes as described therein.

     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 installments on this Note at the time, place
and rate, and in the coin or currency, herein and in the Indenture prescribed, subject to the
Company’s right to defer installment payments as described therein.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note shall be registered on the Security Register of the Company, upon surrender
of this Note for registration of transfer at the office or agency of the Company in St. Paul,
Minnesota, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney
duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor,
of authorized denominations and for the same aggregate principal amount, shall be issued to the
designated transferee or transferees.

     The Notes are initially issued in the form of Registered Global Securities without coupons in
initial minimum denominations of one Note and integral multiples in excess thereof.

     No charge shall be made for any such registration of transfer or exchange, but the Company may
require the payment of a sum sufficient to cover any applicable tax or other governmental charge
payable in connection with the transfer.

     The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the
Holder in whose name any Note shall be registered upon the Security Register for the Notes 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) for the purpose of receiving installment payments
on such Note and for all other purposes; and neither the Company nor the Trustee nor any agent of
the Company or the Trustee shall be affected by any notice to the contrary.

A-6

 

     This Note and the Indenture, and any claim, controversy or dispute arising under or related to
the Indenture or this Note, for all purposes shall be governed by and construed in accordance with
the laws of the State of New York (without regard to the conflicts of laws provisions thereof).
Each of the Company and the Trustee, and each Holder of a Security by its acceptance thereof,
hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right it
may have to trial by jury in any legal proceeding directly or indirectly arising out of or relating
to this Indenture, the Notes or the transactions contemplated hereby or thereby.

     All terms used in this Note which are defined in the Indenture and not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

     No recourse under or upon any obligation, covenant or agreement contained in the Indenture, or
this Note, or because of any indebtedness evidenced thereby, shall be had against any incorporator,
as such or against any past, present or future stockholder, Officer, director or employee, as such,
of the Company or of any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of any assessment or by
any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance of this Note by the Holders hereof and as part of the consideration for
the issue of this Note.

     The Company and each Holder agrees, and by acceptance of a beneficial ownership interest in
the Notes, each beneficial owner of a beneficial ownership interest in the Notes will be deemed to
have agreed, for U.S. federal, state and local tax purposes, to treat the Notes as indebtedness.

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

A-7

 

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:

                                                                     
                                                   
(Insert assignee’s social security or tax identification number)

                                                                     
                                                   
(Insert address and zip code of assignee)

and irrevocably appoints agent to transfer this Note on the books of the Company. The agent may
substitute another to act for him or her.

Date:                                                                     
            

Signature:                                                                    
             

Signature Guarantee:

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

A-8

 

SIGNATURE GUARANTEE

     Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the 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 Registrar in addition to, or in substitution for, STAMP, all in accordance with
the Securities Exchange Act of 1934, as amended.

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	as Trustee

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Attest:

 	 
	By:  	 	 
	 	Name 	 
	 	Title:  	 	 

A-9

 

	 	 	 	 	 

[TO BE ATTACHED TO GLOBAL NOTES]

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL NOTE

     The initial number of Notes evidenced
by this Global Note is ______________. The
following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Number of Notes	 	 
	 	 	Amount of decrease	 	Amount of increase in	 	evidenced by this	 	 
	 	 	in number of Notes	 	number of Notes	 	Global Note following	 	Signature of
	 	 	evidenced by this	 	evidenced by this	 	such decrease (or	 	authorized signatory of
	Date	 	Global Note	 	Global Note	 	increase)	 	Trustee
	 

	 	 
	 	 
	 	 
	 	 

A-10exv4w3

Exhibit 4.3

WINTRUST FINANCIAL CORPORATION,

U.S. BANK NATIONAL ASSOCIATION,

as Purchase Contract Agent

and

U.S. NATIONAL BANK ASSOCIATION,

as Trustee under the Indenture referred to herein

PURCHASE CONTRACT AGREEMENT

Dated as of December 10, 2010

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATIONS
	 	 	4	 
	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	4	 
	Section 1.02. Compliance Certificates and Opinions
	 	 	13	 
	Section 1.03. Form of Documents Delivered to Purchase Contract Agent
	 	 	13	 
	Section 1.04. Acts of Holders; Record Dates
	 	 	14	 
	Section 1.05. Notices
	 	 	15	 
	Section 1.06. Notice to Holders; Waiver
	 	 	16	 
	Section 1.07. Effect of Headings and Table of Contents
	 	 	16	 
	Section 1.08. Successors and Assigns
	 	 	16	 
	Section 1.09. Separability Clause
	 	 	16	 
	Section 1.10. Benefits of Agreement
	 	 	16	 
	Section 1.11. Governing Law
	 	 	16	 
	Section 1.12. Judicial Proceedings
	 	 	17	 
	Section 1.13. Legal Holidays
	 	 	17	 
	Section 1.14. Counterparts
	 	 	17	 
	Section 1.15. Inspection of Agreement
	 	 	17	 
	Section 1.16. Waiver of Jury Trial
	 	 	17	 
	Section 1.17. Force Majeure
	 	 	18	 
	Section 1.18. Calculations
	 	 	18	 
	Section 1.19. UCC
	 	 	18	 
	 
	 	 	 	 
	ARTICLE II UNIT AND PURCHASE CONTRACT FORMS
	 	 	18	 
	 
	 	 	 	 
	Section 2.01. Forms of Units and Purchase Contracts Generally
	 	 	18	 
	Section 2.02. Form of Purchase Contract Agent’s Certificate of Authentication
	 	 	19	 
	Section 2.03. Global Securities; Separation of Units
	 	 	19	 
	Section 2.04. Recreation of Units
	 	 	20	 
	 
	 	 	 	 
	ARTICLE III THE UNITS AND PURCHASE CONTRACTS
	 	 	20	 
	 
	 	 	 	 
	Section 3.01. Amount and Denominations
	 	 	20	 
	Section 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities
	 	 	21	 
	Section 3.03. Execution, Authentication, Delivery and Dating
	 	 	21	 
	Section 3.04. Temporary Equity-Linked Securities
	 	 	21	 
	Section 3.05. Registration; Registration of Transfer and Exchange
	 	 	22	 
	Section 3.06. Book-Entry Interests
	 	 	23	 
	Section 3.07. Notices to Holders
	 	 	24	 
	Section 3.08. Appointment of Successor Depositary
	 	 	24	 
	Section 3.09. Definitive Securities
	 	 	24	 
	Section 3.10. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	24	 
	Section 3.11. Persons Deemed Owners
	 	 	25	 
	Section 3.12. Cancellation
	 	 	26	 
	 
	 	 	 	 
	ARTICLE IV SETTLEMENT OF THE PURCHASE CONTRACTS
	 	 	27	 
	 
	 	 	 	 
	Section 4.01. Settlement Rate
	 	 	27	 
	Section 4.02. Representations and Agreements of Holders
	 	 	27	 

i

 

	 	 	 	 	 
	 	 	Page	 
	Section 4.03. Delivery Upon Settlement of the Purchase Contracts
	 	 	28	 
	Section 4.04. No Fractional Shares
	 	 	29	 
	Section 4.05. Consequences of Bankruptcy
	 	 	29	 
	 
	 	 	 	 
	ARTICLE V ADJUSTMENTS
	 	 	29	 
	 
	 	 	 	 
	Section 5.01. Adjustments to the Fixed Settlement Rates
	 	 	29	 
	Section 5.02. Business Combinations
	 	 	35	 
	Section 5.03. Early Settlement Upon a Fundamental Change
	 	 	37	 
	Section 5.04. Early Settlement
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VI REMEDIES
	 	 	40	 
	 
	 	 	 	 
	Section 6.01. Unconditional Right of Holders to Receive Shares of Common Stock
	 	 	40	 
	Section 6.02. Notice to Purchase Contract Agent; Limitation on Proceedings
	 	 	40	 
	Section 6.03. Restoration of Rights and Remedies
	 	 	41	 
	Section 6.04. Rights and Remedies Cumulative
	 	 	41	 
	Section 6.05. Delay or Omission Not Waiver
	 	 	41	 
	Section 6.06. Undertaking for Costs
	 	 	41	 
	Section 6.07. Waiver of Stay or Execution Laws
	 	 	41	 
	Section 6.08. Control by Majority
	 	 	42	 
	 
	 	 	 	 
	ARTICLE VII THE PURCHASE CONTRACT AGENT
	 	 	42	 
	 
	 	 	 	 
	Section 7.01. Certain Duties and Responsibilities
	 	 	42	 
	Section 7.02. Notice of Default
	 	 	43	 
	Section 7.03. Certain Rights of Purchase Contract Agent
	 	 	43	 
	Section 7.04. Not Responsible for Recitals
	 	 	44	 
	Section 7.05. May Hold Units and Purchase Contracts
	 	 	45	 
	Section 7.06. Money Held in Custody
	 	 	45	 
	Section 7.07. Compensation, Reimbursement and Indemnification
	 	 	45	 
	Section 7.08. Corporate Purchase Contract Agent Required; Eligibility
	 	 	46	 
	Section 7.09. Resignation and Removal; Appointment of Successor
	 	 	46	 
	Section 7.10. Acceptance of Appointment by Successor
	 	 	47	 
	Section 7.11. Merger; Conversion; Consolidation or Succession to Business
	 	 	48	 
	Section 7.12. Preservation of Information; Communications to Holders
	 	 	48	 
	Section 7.13. No Obligations of Purchase Contract Agent
	 	 	48	 
	Section 7.14. Tax Compliance
	 	 	49	 
	 
	 	 	 	 
	ARTICLE VIII SUPPLEMENTAL AGREEMENTS
	 	 	49	 
	 
	 	 	 	 
	Section 8.01. Supplemental Agreements Without Consent of Holders
	 	 	49	 
	Section 8.02. Supplemental Agreements With Consent of Holders
	 	 	50	 
	Section 8.03. Execution of Supplemental Agreements
	 	 	50	 
	Section 8.04. Effect of Supplemental Agreements
	 	 	50	 
	Section 8.05. Reference to Supplemental Agreements
	 	 	50	 
	Section 8.06. Notice of Amendment
	 	 	51	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE IX CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	51	 
	 
	 	 	 	 
	Section 9.01. Covenant Not to Consolidate, Merge, Convey, Transfer or
Lease Property Except Under Certain Conditions
	 	 	51	 
	Section 9.02. Rights and Duties of Successor Entity
	 	 	51	 
	 
	 	 	 	 
	ARTICLE X COVENANTS OF THE COMPANY
	 	 	52	 
	 
	 	 	 	 
	Section 10.01. Performance Under Purchase Contracts
	 	 	52	 
	Section 10.02. Maintenance of Office or Agency
	 	 	52	 
	Section 10.03. Statements of Officers of the Company as to Default; Notice of Default
	 	 	52	 
	Section 10.04. Existence
	 	 	52	 
	Section 10.05. Company to Reserve Common Stock
	 	 	52	 
	Section 10.06. Covenants as to Common Stock; Listing
	 	 	53	 
	Section 10.07. Tax Treatment
	 	 	53	 

EXHIBITS

	 	 	 	 	 

	Exhibit A — Form of Unit
	 	 	A-1	 
	 
	Exhibit B — Form of Purchase Contract
	 	 	B-1	 

iii

 

     PURCHASE CONTRACT AGREEMENT, dated as of December 10, 2010, among WINTRUST FINANCIAL
CORPORATION, an Illinois corporation (the “Company”), U.S. BANK NATIONAL ASSOCIATION, a
national banking association, acting as purchase contract agent and attorney-in-fact for the
Holders of Purchase Contracts (as defined herein) from time to time (the “Purchase Contract
Agent”), and U.S. BANK NATIONAL ASSOCIATION, acting as Trustee under the Indenture (as defined
herein).

RECITALS

     The Company has duly authorized the execution and delivery of this Agreement and the Units and
Purchase Contracts issuable hereunder.

     All things necessary to make the Units and Purchase Contracts, when such are executed by the
Company and authenticated, executed on behalf of the Holders and delivered by the Purchase Contract
Agent, as provided in this Agreement, the valid obligations of the Company and to constitute this
Agreement a valid agreement of the Company, in accordance with its terms, have been done. For and
in consideration of the premises and the purchase of the Units (including the constituent parts
thereof) by the Holders thereof, it is mutually agreed as follows:

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATIONS

     Section 1.01. Definitions. For all purposes of this Agreement, except as otherwise
expressly provided or unless the context otherwise requires:

          (a) the terms defined in this Article have the meanings assigned to them in this Article
and include the plural as well as the singular, and nouns and pronouns of the masculine gender
include the feminine and neuter genders;

          (b) all accounting terms not otherwise defined herein have the meanings assigned to them
in accordance with generally accepted accounting principles in the United States;

          (c) the words “herein,” “hereof” and “hereunder” and other words of similar import refer
to this Agreement as a whole and not to any particular Article, Section, Exhibit or other
subdivision;

          (d) references herein to Articles, Sections and Exhibits refer to Articles, Sections and
Exhibits of this Agreement, unless the context otherwise requires; and

          (e) the following terms have the meanings given to them in this Section 1.01(e):

     “Act” has the meaning, with respect to any Holder, set forth in Section 1.04.

     “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 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.

4

 

     “Agreement” means this instrument as originally executed or as it may from time to
time be supplemented or amended by one or more agreements supplemental hereto entered into pursuant
to the applicable provisions hereof.

     “Applicable Market Value” means the average of the Daily VWAPs of the Common Stock on
each of the 20 consecutive Trading Days ending on the third Trading Day immediately preceding the
Mandatory Settlement Date, subject to adjustment as provided in Article 5.

     “applicants” has the meaning set forth in Section 7.12(b).

     “Bankruptcy Code” means Title 11 of the United States Code, as amended, or any
insolvency or other similar Federal or state law for the relief of debtors.

     “Beneficial Owner” means, with respect to a Book-Entry Interest, a Person who is
the beneficial owner of such Book-Entry Interest as reflected on the books of the Depositary or on
the books of a Person maintaining an account with the Depositary (directly as a Depositary
Participant or as an indirect participant, in each case in accordance with the rules of the
Depositary).

     “Board of Directors” means the board of directors of the Company or a duly authorized
committee of that board.

     “Board Resolution” means one or more resolutions of the Board of Directors, a copy of
which has been certified by the Secretary or an Assistant Secretary of the Company to have been
duly adopted by the Board of Directors and to be in full force and effect on the date of such
certification and delivered to the Purchase Contract Agent.

     “Book-Entry Interest” means a beneficial interest in a Global Security, registered in
the name of a Depositary or a nominee thereof, ownership and transfers of which shall be maintained
and made through book entries by such Depositary as described in Section 3.06.

     “Business Combination” has the meaning set forth in Section 5.02.

     “Business Day” means any day other than a Saturday, Sunday or any day on which banking
institutions or trust companies in New York, New York are authorized or obligated by applicable
law, regulation or executive order to close.

     “Capital Stock” of any Person means any and all shares, interests, participations or
other equivalents, however designated, of corporate stock or other equity participations, including
partnership interests, whether general or limited, of such Person and any rights (other than debt
securities convertible or exchangeable into an equity interest), warrants or options to acquire an
equity interest in such Person.

     “Clearing Agency” means an organization registered as a “clearing agency” pursuant to
Section 17A of the Exchange Act.

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

     “Closing Price” of the Common Stock means, on any date of determination (i) the
closing sale price (or, if no closing sale price is reported, the last reported sale price) of the
Common Stock on the Nasdaq Global Select Market on such date or, if the Common Stock is not listed
for trading on the Nasdaq Global Select Market on any such date, as reported in the composite
transactions for the principal United States national or regional securities exchange on which the
Common Stock is so listed; or (ii) if

5

 

the Common Stock is not so reported, the last quoted bid price for the Common Stock in the
over-the-counter market as reported by the Pink OTC Markets Inc. or a similar organization, or, if
such bid price is not available, the average of the mid-point of the last bid and ask prices of the
Common Stock on such date from at least three nationally recognized independent investment banking
firms retained by the Company for this purpose.

     “Code” means the Internal Revenue Code of 1986, as amended.

     “Common Stock” means the common stock, no par value, of the Company, subject to
Section 5.02.

     “Company” means the Person named as the “Company” in the first paragraph of this
Agreement until a successor shall have become such pursuant to the applicable provisions of this
Agreement, and thereafter “Company” shall mean such successor.

     “Corporate Trust Office” means the corporate trust office of the Purchase Contract
Agent at which, at any particular time, its corporate trust business in Atlanta, Georgia shall be
principally administered, which office at the date hereof is located at U.S. Bank Corporate Trust
Services, 1349 West Peachtree NW, Suite 1050, Atlanta, Georgia 30309, except that with respect to
presentation of Units for payment or for registration of transfer or exchange, such term shall mean
the office or agency of the Purchase Contract Agent at which at any particular time its corporate
agency business shall be conducted, which office at the date of this instrument is located at 100
Wall Street, 16th Floor Window, New York, New York 10005; Attention: Account Manager —
Wintrust and U.S. Bank Corporate Trust Services, 60 Livingston Avenue, 1st Floor, Bond
Drop Window, St. Paul, Minnesota 55107; Attention — Account Manager Wintrust, or, in the case of
any of such offices or agency, such other address as the Purchase Contract Agent may designate from
time to time by notice to the Company.

     “Daily VWAP” of the Common Stock means, on any date of determination, the per share
volume-weighted average price as displayed under the heading Bloomberg VWAP on the Bloomberg page
WTFC.UQ <equity> AQR (or its equivalent successor if such page is not available) in respect
of the period from the scheduled open of trading on the relevant Trading Day until the scheduled
close of trading on the relevant Trading Day (or if such volume-weighted average price is
unavailable, the market price of one share of Common Stock on such Trading Day determined, using a
volume-weighted method, by a nationally recognized independent investment banking firm retained for
this purpose by the Company).

     “Definitive Equity-Linked Security” means an Equity-Linked Security in definitive
form.

     “Definitive Security” means any Security in definitive form.

     “Depositary” means a Clearing Agency that is acting as a depositary for the
Equity-Linked Securities and in whose name, or in the name of a nominee of that organization, shall
be registered one or more Global Securities and which shall undertake to effect book-entry
transfers of the Equity-Linked Securities as contemplated by Section 3.06, Section 3.07, Section
3.08 and Section 3.09.

     “Depositary Participant” means a broker, dealer, bank, other financial institution or
other Person for whom from time to time the Depositary effects book-entry transfers of securities
deposited with the Depositary.

     “Dividend Threshold Amount” has the meaning set forth in Section 5.01(a)(iv).

6

 

     “DTC” means The Depository Trust Company.

     “DWAC System” has the meaning set forth in Section 2.03(a).

     “Early Settlement” has the meaning set forth in Section 5.04(a).

     “Early Settlement Date” has the meaning set forth in Section 5.04(b).

     “Early Settlement Notice” has the meaning set forth in Section 5.04(b)(i).

     “Early Settlement Rate” for each Purchase Contract means the Minimum Settlement Rate,
unless the Holder elects to settle such Purchase Contract in connection with a Fundamental Change,
in which case such Holder shall receive upon settlement of such Purchase Contract a number of
shares of Common Stock based on the Fundamental Change Early Settlement Rate, subject to adjustment
in the same manner and at the same time as each Fixed Settlement Rate is adjusted pursuant to
Section 5.01.

     “Effective Date” has the meaning set forth in Section 5.03(c).

     “Equity-Linked Security” means a Unit or a Purchase Contract, as applicable.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any statute
successor thereto, in each case as amended from time to time, together with the rules and
regulations promulgated thereunder.

     “expiration date” has the meaning set forth in Section 1.04(e).

     “Expiration Date” has the meaning set forth in Section 5.01(a)(v).

     “Expiration Time” has the meaning set forth in Section 5.01(a)(v).

     “Ex-Date” means the first date on which shares of Common Stock trade on the applicable
exchange or in the applicable market, regular way, without the right to receive the issuance,
dividend or distribution in question, from the Company or, if applicable, from the seller of Common
Stock on such exchange or market (in the form of due bills or otherwise) as determined by such
exchange or market.

     “Fixed Settlement Rate” has the meaning set forth in Section 4.01.

     “Fundamental Change” shall be deemed to occur if any of the following occurs:

          (i) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act files a
Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or
group has become the direct or indirect ultimate “beneficial owner,” as defined in Rule 13d-3 under
the Exchange Act, of the Company’s common equity representing more than 50% of the voting power of
the Common Stock; or

          (ii) consummation of any consolidation or merger of the Company or similar transaction
with, or any sale, lease or other transfer in one transaction or a series of transactions of all or
substantially all of the property and assets of the Company to, any Person other than one of the
Company’s Subsidiaries, in each case pursuant to which the Common Stock will be converted into
cash, securities or other property; provided, however, that a Fundamental Change
shall not be deemed to have

7

 

occurred as a result of a transaction described in this clause (ii) if at least 90% of the
consideration received by holders of the Common Stock, excluding cash payments for fractional
shares and cash payments made in respect of dissenters’ appraisal rights, in the transaction or
transactions consists of shares of common stock or depositary receipts in respect of common stock
that are traded on a U.S. national securities exchange or that will be so traded when issued or
exchanged in connection with such transaction or transactions.

     “Fundamental Change Early Settlement Date” has the meaning set forth in Section
5.03(a).

     “Fundamental Change Early Settlement Rate” has the meaning set forth in Section
5.03(c).

     “Fundamental Change Early Settlement Right” has the meaning set forth in Section
5.03(a).

     “Global Note” means a Registered Global Security, as defined in the Indenture, that
shall evidence the number of Separate Notes specified therein.

     “Global Purchase Contract” means a Purchase Contract in global form that (i) shall
evidence the number of Separate Purchase Contracts specified therein, (ii) shall be registered on
the books and records of the Purchase Contract Agent in the name of the Depositary or its nominee
and (iii) shall be held by the Purchase Contract Agent as custodian for the Depositary.

     “Global Security” means a Global Unit, a Global Purchase Contract or a Global Note, as
applicable.

     “Global Unit” means a Unit in global form that (i) shall evidence the number of Units
specified therein, (ii) shall be registered on the books and records of the Purchase Contract Agent
in the name of the Depositary or its nominee and (iii) shall be held by the Purchase Contract Agent
as custodian for the Depositary.

     “Holder” means, with respect to a Unit or Purchase Contract, the Person in whose name
the Unit or Purchase Contract, as the case may be, is registered in the Security Register;
provided, however, that in determining whether the Holders of the requisite number
of Units or Purchase Contracts, as the case may be, have voted on any matter, then for the purpose
of such determination only (and not for any other purpose hereunder), if the Units or Purchase
Contracts, as the case may be, remain in the form of one or more Global Securities and if the
Depositary that is the registered holder of such Global Security has sent an omnibus proxy
assigning voting rights to the Depositary Participants to whose accounts the Units or Purchase
Contracts, as the case may be, are credited on the related record date, the term “Holder”
shall mean such Depositary Participant acting at the direction of the Beneficial Owners.

     “Indenture” means the Junior Subordinated Indenture dated as of December 10, 2010,
between the Company and the Trustee (including any provisions of the TIA that are deemed
incorporated therein), as supplemented by the Supplemental Indenture.

     “Issuer Order” or “Issuer Request” means a written order or request signed in
the name of the Company by its Chairman of the Board, its President or one of its Vice Presidents,
and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and
delivered to the Purchase Contract Agent.

     “Mandatory Settlement Date” means December 15, 2013.

8

 

     “Market Disruption Event” means any of the following events that has occurred (i) any
suspension of, or limitation imposed on, trading by the Nasdaq Global Select Market during the
one-hour period prior to the close of trading for the regular trading session on the Nasdaq Global
Select Market (or for purposes of determining Daily VWAP any period or periods aggregating one half
hour or longer), whether by reason of movements in price exceeding limits permitted by the Nasdaq
Global Select Market or otherwise, relating to the Common Stock or in futures or options contracts
relating to the Common Stock on the relevant exchange or quotation system, (ii) any event (other
than a failure to open or a closure as described below) that disrupts or impairs the ability of
market participants during the one-hour period prior to the close of trading for the regular
trading session on the Nasdaq Global Select Market (or for purposes of determining Daily VWAP any
period or periods aggregating one half hour or longer) in general to effect transactions in, or
obtain market values for, the Common Stock on the Nasdaq Global Select Market or futures or options
contracts relating to the Common Stock on any relevant exchange or quotation system, or (iii) the
failure to open of the exchange or quotation system on which futures or options contracts relating
to the Common Stock are traded or the closure of such exchange or quotation system prior to its
respective scheduled closing time for the regular trading session on such day (without regard to
after hours or other trading outside the regular trading session hours) unless such earlier closing
time is announced by such exchange or quotation system at least one hour prior to the earlier of
the actual closing time for the regular trading session on such day and the submission deadline for
orders to be entered into such exchange or quotation system for execution at the actual closing
time on such day. For the purposes of determining a “Market Disruption Event,” if the Common Stock
is not listed on the Nasdaq Global Select Market, the term “Nasdaq Global Select Market” in this
definition shall be deemed to be replaced by the principal national securities exchange on which
the Common Stock is listed for trading.

     “Maximum Settlement Rate” has the meaning set forth in Section 4.01.

     “Merger Common Stock” has the meaning set forth in Section 5.02(b)(i).

     “Merger Valuation Percentage” for any Business Combination shall be equal to (x) the
arithmetic average of the Closing Prices of one share of the Merger Common Stock over the relevant
Merger Valuation Period (determined as if references to “Common Stock” in the definition of
“Closing Price” were references to the “Merger Common Stock” for such Business Combination),
divided by (y) the arithmetic average of the Closing Prices of one share of Common Stock
over the relevant Merger Valuation Period.

     “Merger Valuation Period” for any Business Combination means the five consecutive
Trading Day period immediately preceding, but excluding, the effective date for such Business
Combination.

     “Minimum Settlement Rate” has the meaning set forth in Section 4.01.

     “Minimum Stock Price” has the meaning set forth in Section 5.03(e)(iii).

     “Notes” means the series of notes designated as the “9.50% Junior Subordinated
Amortizing Notes due December 15, 2013” to be issued by the Company under the Indenture, and
“Note” means each note of such series having an initial principal amount of $9.728182.

     “Officers’ Certificate” when used with respect to the Company, means a certificate
signed by the Chief Executive Officer, any Vice Chairman, the President, any of the Executive Vice
Presidents or any of the Senior Vice Presidents, and the Treasurer or any Assistant Treasurer, the
Secretary or any Assistant Secretary, or the General Counsel, and delivered to the Purchase
Contract Agent.

9

 

     “Open of business” means 9:00 a.m. (New York City time).

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel to the
Company (and who may be an employee of the Company), and who shall be reasonably acceptable to the
Purchase Contract Agent and/or Trustee as applicable. An opinion of counsel may rely on
certificates as to matters of fact and shall include the statements provided in Section 1.02 if and
to the extent required thereby.

     “Outstanding Purchase Contracts” means, as of the date of determination, all Purchase
Contracts theretofore authenticated, executed and delivered under this Agreement (including, for
the avoidance of doubt, Purchase Contracts held as a component of Units and Separate Purchase
Contracts), except:

          (i) Purchase Contracts theretofore cancelled by the Purchase Contract Agent or received by
the Purchase Contract Agent for cancellation or deemed cancelled pursuant to the provisions of this
Agreement; and

          (ii) Purchase Contracts in exchange for or in lieu of which other Purchase Contracts have
been authenticated, executed on behalf of the Holder and delivered pursuant to this Agreement,
other than any such Purchase Contract in respect of which there shall have been presented to the
Purchase Contract Agent proof satisfactory to it that such Purchase Contract is held by a protected
purchaser in whose hands the Purchase Contracts are valid obligations of the Company;
provided, however, that in determining whether the Holders of the requisite number
of the Purchase Contracts have given any request, demand, authorization, direction, notice, consent
or waiver hereunder, Purchase Contracts owned by the Company or any Affiliate of the Company shall
be disregarded and deemed not to be Outstanding Purchase Contracts, except that, in determining
whether the Purchase Contract Agent shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Purchase Contracts that a Responsible
Officer of the Purchase Contract Agent actually knows to be so owned shall be so disregarded.

     “Participant” has the meaning set forth in Section 2.03(a).

     “Person” means a legal person, including any individual, corporation, estate,
partnership, joint venture, association, joint-stock company, limited liability company, trust,
unincorporated organization or government or any agency or political subdivision thereof or any
other entity of whatever nature.

     “Prospectus Supplement” means the Prospectus Supplement dated December 7, 2010,
related to the Units.

     “Purchase Contract” means the contract obligating the Company to deliver shares of
Common Stock on the terms and subject to the conditions set forth herein.

     “Purchase Contract Agent” means the Person named as the “Purchase Contract Agent” in
the first paragraph of this Agreement until a successor Purchase Contract Agent shall have become
such pursuant to the applicable provisions of this Agreement, and thereafter, in each instance,
“Purchase Contract Agent” shall mean such Person.

     “Purchase Contract Settlement Fund” has the meaning set forth in Section 4.03(a).

     “Record Date” means, for purposes of Section 5.01, with respect to any dividend,
distribution or other transaction or event in which the holders of the 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

10

 

holders of the Common Stock 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).

     “Reference Price” has the meaning set forth in Section 4.01.

     “Reference Property” has the meaning set forth in Section 5.02.

     “Responsible Officer” means, with respect to the Purchase Contract Agent, any officer
assigned to the corporate trust department (or any successor division or unit) of the Purchase
Contract Agent located at the Corporate Trust Office, who shall have direct responsibility for the
administration of this Agreement.

     “Securities Act” means the Securities Act of 1933, as amended, and any statute
successor thereto, in each case as amended from time to time, and the rules and regulations
promulgated thereunder.

     “Security” means a Unit, a Purchase Contract or a Note, as applicable.

     “Security Register” and “Security Registrar” have the respective meanings set
forth in Section 3.05.

     “Separate Note” has the meaning set forth in Section 2.03(a).

     “Separate Purchase Contract” has the meaning set forth in Section 2.03(a).

     “Settlement Rate” has the meaning set forth in Section 4.01.

     “Similar Law” means any federal, state, local, non-U.S., or other laws or regulations
that are substantially similar to any of the provisions of Title I of ERISA or Section 4975 of the
Code.

     “Stated Amount” means $50.

     “Stock Price” has the meaning set forth in Section 5.03(c).

     “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
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).

     “Supplemental Indenture” means the First Supplemental Indenture, dated as of December
10, 2010, between the Company and the Trustee, pursuant to which the Notes will be issued.

     “Termination Event” means the occurrence of any of the following events:

          (i) at any time on or prior to the Mandatory Settlement Date, a decree or order by a court
having jurisdiction in the premises shall have been entered adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization of the Company under
the Bankruptcy Code or any other similar applicable Federal or state law and, if such judgment,
decree or

11

 

order shall have been entered more than 60 days prior to the Mandatory Settlement Date, such decree
or order shall have continued undischarged and unstayed for a period of 60 days;

          (ii) at any time on or prior to the Mandatory Settlement Date, a decree or order of a
court having jurisdiction in the premises for the appointment of a receiver or liquidator or
trustee or assignee (or other similar official) in bankruptcy or insolvency of the Company or of
all or substantially all of its property, or for the winding up or liquidation of its affairs,
shall have been entered and, if such decree or order shall have been entered more than 60 days
prior to the Mandatory Settlement Date, such judgment, decree or order shall have continued
undischarged and unstayed for a period of 60 days; or

          (iii) at any time on or prior to the Mandatory Settlement Date, the Company shall
institute proceedings to be adjudicated a voluntary bankrupt, or shall consent to the filing of a
bankruptcy proceeding against it, or shall file a petition or answer or consent seeking
reorganization under the Bankruptcy Code or any other similar applicable Federal or state law, or
shall consent to the filing of any such petition, or shall consent to the appointment of a receiver
or liquidator or trustee or assignee (or other similar official) in bankruptcy or insolvency of it
or of its property, or shall make an assignment for the benefit of creditors, or shall admit in
writing its inability to pay its debts generally as they become due.

For the avoidance of doubt, a “Termination Event” shall not include any event described in
clauses (i) through (iii) above with respect to any Subsidiary of the Company.

     “Threshold Appreciation Price” has the meaning set forth in Section 4.01.

     “Trading Day” means a day on which (i) there is no Market Disruption Event
and (ii) the Nasdaq Global Select Market is open for trading or, if the Common Stock is not then
listed on the Nasdaq Global Select Market, the principal other United States national or regional
securities exchange on which the Common Stock is then listed is open for trading or, if the Common
Stock is not then listed on a United States national or regional securities exchange, the principal
other market on which the Common Stock is then listed or admitted for trading is open for trading.
If the Common Stock (or other security for which a Daily VWAP must be determined) is not listed or
admitted for trading as described in clause (ii) of the immediately preceding sentence,
“Trading Day” means a “Business Day.”

     “Trustee” means U.S. Bank National Association, as trustee under the Indenture, or any
successor thereto.

     “Unit” means the collective rights of a Holder of a unit consisting of one Purchase
Contract and one Note prior to separation pursuant Section 2.03 or subsequent to recreation
pursuant to Section 2.04.

     “Unit of Reference Property” has the meaning set forth in Section 5.02.

     “Vice President” means any vice president, whether or not designated by a number or a
word or words added before or after the title “vice president.”

     “VWAP” per share of any Capital Stock or similar equity interest on any Trading Day
means the per share volume-weighted average price as displayed under the heading Bloomberg VWAP on
the relevant Bloomberg page in respect of the period from the scheduled open of trading on such
Trading Day until the scheduled close of trading on such Trading Day (or if such volume-weighted
average price is unavailable, the market price of one share of such Capital Stock or similar equity
interest on such Trading Day determined, using a volume-weighted average method, by a nationally
recognized independent investment banking firm retained for this purpose by the Company).

12

 

     Section 1.02. Compliance Certificates and Opinions. Except as otherwise expressly
provided by this Agreement, upon any application or request by the Company to the Purchase Contract
Agent to take any action in accordance with any provision of this Agreement, the Company shall
furnish to the Purchase Contract Agent an Officers’ Certificate stating that all conditions
precedent, if any, provided for in this Agreement 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, if any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is specifically required by any
provision of this Agreement relating to such particular application or request, no additional
certificate or opinion need be furnished unless so specified in such provision.

     Every Officers’ Certificate or Opinion of Counsel with respect to compliance with a condition
or covenant provided for in this Agreement shall include:

          (i) a statement that each individual signing such Officers’ Certificate or Opinion of
Counsel has read such covenant or condition and the definitions herein relating thereto;

          (ii) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such Officers’ Certificate or Opinion of Counsel are
based;

          (iii) a statement that, in the opinion of each such individual, he or she has made such
examination or investigation as is necessary to enable such individual to express an informed
opinion as to whether or not such covenant or condition has been complied with; and

          (iv) a statement as to whether, in the opinion of each such individual, such condition or
covenant has been complied with.

     Section 1.03. Form of Documents Delivered to Purchase Contract Agent. In any case
where several matters are required to be certified by, or covered by an opinion of, any specified
Person, it is not necessary that all such matters be certified by, or covered by the opinion of,
only one such Person, or that they be so certified or covered by only one document, but one such
Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters
in one or several documents. Any Officers’ Certificate or Opinion of Counsel of an officer of the
Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of reasonable care
should know, that the certificate or opinion or representations with respect to the matters upon
which his or her Officers’ Certificate or Opinion of Counsel is based are erroneous. Any such
Officers’ Certificate or Opinion of Counsel may be based, insofar as it relates to factual matters,
upon a certificate or opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the possession of the
Company unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are erroneous.

     Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Agreement, they may,
but need not, be consolidated and form one instrument.

13

 

     Section 1.04. Acts of Holders; Record Dates.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Agreement to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments are delivered to the Purchase Contract Agent
and, where it is hereby expressly required, to the Company. Such instrument or instruments (and
the action embodied therein and evidenced thereby) are herein sometimes referred to as the
“Act” of the Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Agreement and (subject to Section 7.01) conclusive in favor of the Purchase Contract Agent and
the Company, if made in the manner provided in this Section.

          (b) The fact and date of the execution by any Person of any such instrument or writing may
be proved in any manner which the Purchase Contract Agent deems sufficient.

          (c) The ownership of Purchase Contracts shall be proved by the Security Registrar upon
review of the Security Register.

          (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of
the Holder of any Purchase Contract shall bind every future Holder of the same Purchase Contract
and the Holder of such Purchase Contract issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by
the Purchase Contract Agent or the Company in reliance thereon, whether or not notation of such
action is made upon such Purchase Contract.

          (e) The Company may set any date as a record date for the purpose of determining the
Holders of Outstanding Purchase Contracts entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by this
Agreement to be given, made or taken by Holders of Purchase Contracts. If any record date is set
pursuant to this paragraph, the Holders of the Outstanding Purchase Contracts on such record date,
and no other Holders, shall be entitled to take the relevant action with respect to the Purchase
Contracts, whether or not such Holders remain Holders after such record date; provided that
no such action shall be effective hereunder unless taken prior to or on the applicable expiration
date by Holders of the requisite number of Outstanding Purchase Contracts on such record date.
Nothing contained in this paragraph shall be construed to prevent the Company from setting a new
record date for any action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with no action by any
Person be cancelled and be of no effect), and nothing contained in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite number of Outstanding
Purchase Contracts on the date such action is taken. Promptly after any record date is set
pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record
date, the proposed action by Holders and the applicable expiration date to be given to the Purchase
Contract Agent in writing and to each Holder of Purchase Contracts in the manner set forth in
Section 1.06.

     With respect to any record date set pursuant to this Section, the Company may designate any
date as the “expiration date” and from time to time may change the expiration date to any
earlier or later day; provided that no such change shall be effective unless notice of the
proposed new expiration date is given to the Purchase Contract Agent in writing, and to each Holder
of Purchase Contracts in the manner set forth in Section 1.06, prior to or on the existing
expiration date. If an expiration date is not designated with respect to any record date set
pursuant to this Section, the Company shall be deemed to have initially

14

 

designated the 180th day after such record date as the expiration date with respect thereto,
subject to its right to change the expiration date as provided in this paragraph. Notwithstanding
the foregoing, no expiration date shall be later than the 180th day after the applicable record
date.

     Section 1.05. Notices. Any notice or communication is duly given if in writing and
delivered in Person or mailed by first-class mail (registered or certified, return receipt
requested), telecopier (with receipt confirmed) or overnight courier guaranteeing next day
delivery, to the others’ address; provided that notice shall be deemed given to the Purchase
Contract Agent only upon receipt thereof:

     If to the Purchase Contract Agent:

U.S. Bank National Association

Corporate Trust Services

1349 West Peachtree NW, Suite 1050

Atlanta, Georgia 30309

Attention: Account Manager — Wintrust

     If to the Trustee:

U.S. Bank National Association

Corporate Trust Services

1349 West Peachtree NW, Suite 1050

Atlanta, Georgia 30309

Attention: Account Manager — Wintrust

     If to the Company:

Wintrust Financial Corporation

727 North Bank Lane

Lake Forest, Illinois 60045

Attention: Chief Operating Officer

Facsimile: (847) 615-4091

     with a courtesy copy, which shall not constitute notice for purposes of the notice
requirements hereunder, to:

Sidley Austin LLP

One South Dearborn Street

Chicago, Illinois 60603

Attention: Lisa J. Reategui

Facsimile: (312) 853-7036

     with a courtesy copy, which shall not constitute notice for purposes of the notice
requirements hereunder, to:

Fried, Frank, Harris, Shriver & Jacobson LLP

One New York Plaza

New York, New York 10004

Attention: Valerie Ford Jacob

Facsimile: (212) 859-4000

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     The Purchase Contract Agent shall have the right, but shall not be required, to rely upon and
comply with instructions and directions sent by e-mail, facsimile and other similar unsecured
electronic methods by Persons believed by the Purchase Contract Agent to be authorized to give
instructions and directions on behalf of the Company. The Purchase Contract Agent shall have no
duty or obligation to verify or confirm that the Person who sent such instructions or directions
is, in fact, a Person authorized to give instructions or directions on behalf of the Company; and
the Purchase Contract Agent shall have no liability for any losses, liabilities, costs or expenses
incurred or sustained by the Company as a result of such reliance upon or compliance with such
instructions or directions. The Company agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Purchase Contract Agent, including
without limitation the risk of the Purchase Contract Agent acting on unauthorized instructions, and
the risk of interception and misuse by third parties.

     Section 1.06. Notice to Holders; Waiver. Where this Agreement provides for notice to
Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such
event, at its address as it appears in the Security Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice. In any case where
notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any
notice so mailed to any particular Holder shall affect the sufficiency of such notice with respect
to other Holders with respect to whom such notice is properly given. Where this Agreement provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the equivalent of such
notice. Waivers of notice by Holders shall be filed with the Purchase Contract Agent, but such
filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver.

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the written approval of the Purchase Contract Agent shall constitute a sufficient notification for
every purpose hereunder.

     Section 1.07. Effect of Headings and Table of Contents. The Article and Section
headings herein and in the Table of Contents are for convenience only and shall not affect the
construction hereof.

     Section 1.08. Successors and Assigns. All covenants and agreements in this Agreement
by the Company and the Purchase Contract Agent shall bind their respective successors and assigns,
whether so expressed or not.

     Section 1.09. Separability Clause. In case any provision in this Agreement or in the
Purchase Contracts shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions hereof and thereof shall not in any way be affected or
impaired thereby.

     Section 1.10. Benefits of Agreement. Nothing contained in this Agreement or in the
Purchase Contracts, express or implied, shall give to any Person, other than the parties hereto and
their successors hereunder and, to the extent provided hereby, the Holders, any benefits or any
legal or equitable right, remedy or claim under this Agreement. The Holders from time to time
shall be beneficiaries of this Agreement and shall be bound by all of the terms and conditions
hereof and of the Purchase Contracts by their acceptance of delivery of such Purchase Contracts.

     Section 1.11. Governing Law. THIS AGREEMENT, THE UNITS AND THE PURCHASE CONTRACTS,
AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE UNITS OR THE
PURCHASE CONTRACTS, SHALL BE

16

 

GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO THE CONFLICTS OF LAWS PROVISIONS THEREOF.

     Section 1.12. Judicial Proceedings.

          (a) Each of the Company and the Purchase Contract Agent expressly accepts and irrevocably
submits to the non-exclusive jurisdiction of the United States Federal or New York State court
sitting in the Borough of Manhattan, The City of New York, New York, over any suit, action or
proceeding arising out of or relating to this Agreement or the Purchase Contracts.

          (b) Each of the Company and the Purchase Contract Agent agrees, to the fullest extent that
it may effectively do so under applicable law, that a judgment in any suit, action or proceeding of
the nature referred to in Section 1.12(a) brought in any such court shall be conclusive and binding
upon such party, subject to rights of appeal, and may be enforced in the courts of the United
States of America or the State of New York (or any other court the jurisdiction to which the
Company is or may be subject) by a suit upon such judgment.

          (c) Nothing in this Section 1.12 shall affect the right of any party hereto to serve
process in any manner permitted by law, or limit any right to bring proceedings against any other
party hereto in the courts of any jurisdiction or to enforce in any lawful manner a judgment
obtained in one jurisdiction in any other jurisdiction.

     Section 1.13. Legal Holidays. In any case where any Mandatory Settlement Date, Early
Settlement Date or Fundamental Change Early Settlement Date shall not be a Business Day,
notwithstanding any other provision of this Agreement or the Purchase Contracts, settlement of the
Purchase Contracts shall not be effected on such date, but instead shall be effected on the next
succeeding Business Day with the same force and effect as if made on such Mandatory Settlement
Date, Early Settlement Date or Fundamental Change Early Settlement Date, as applicable, and no
interest or other amounts shall accrue or be payable by the Company or to any Holder in respect of
such delay, except that, if such next succeeding Business Day is in the next succeeding calendar
year, such settlement shall be made on the immediately preceding Business Day with the same force
and effect as if made on such Mandatory Settlement Date, Early Settlement Date or Fundamental
Change Early Settlement Date, as applicable.

     Section 1.14. Counterparts. This Agreement may be executed in any number of
counterparts by the parties hereto on separate counterparts, each of which, when so executed and
delivered, shall be deemed an original, but all such counterparts shall together constitute one and
the same instrument.

     Section 1.15. Inspection of Agreement. A copy of this Agreement shall be available
at all reasonable times during normal business hours at the Corporate Trust Office for inspection
by any Holder or Person providing to the Purchase Contract Agent reasonable evidence that it is a
Beneficial Owner.

     Section 1.16. Waiver of Jury Trial. EACH OF THE COMPANY, THE PURCHASE CONTRACT
AGENT, THE TRUSTEE AND EACH HOLDER OF AN EQUITY-LINKED SECURITY, BY ITS ACCEPTANCE THEREOF HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

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     Section 1.17. Force Majeure. In no event shall either of the Purchase Contract Agent
or the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its
control, including, without limitation, strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services, it being understood that each of the Purchase Contract Agent and the Trustee
shall use reasonable efforts which are consistent with accepted practices in the banking industry
to resume performance as soon as practicable under the circumstances.

     Section 1.18. Calculations. The solicitation of any necessary bids and calculations
to be made hereunder shall be the obligation of the Company. These calculations include, but are
not limited to, determination of the applicable Settlement Rate, the Fixed Settlement Rates, the
Early Settlement Rate, the Fundamental Change Early Settlement Rate, the Applicable Market Value,
the Daily VWAP and the VWAP, as the case may be. All calculations made by the Company or its agent
as contemplated pursuant to the terms hereof shall be made in good faith and, absent manifest
error, be final and binding on the Purchase Contract Agent, the Trustee, each Paying Agent and on
the Holders. For any calculations to be made by the Company or its agent as contemplated pursuant
to the terms hereof, the Company shall provide a schedule of such calculations to the Purchase
Contract Agent and the Trustee, and each of the Purchase Contract Agent and the Trustee shall be
entitled to conclusively rely upon the accuracy and completeness of the calculations by the Company
or its agent without independent verification, shall in no event be deemed to have acted
negligently (even if information so provided would reflect manifest error) and shall have no
liability to the Holders for any loss or damages any of them may incur, in each case, as a result
of or in connection with no Purchase Contract Agent, Trustee or any other independent verification
having been undertaken or completed.

     Section 1.19. UCC. Each Purchase Contract (whether or not included in a Unit) is a
security governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York
on the date hereof.

     Section 1.20. Conflict with Indenture. To the extent that any provision of this
Purchase Contract Agreement relating to or affecting the Notes conflicts with or is inconsistent
with the Indenture, the Indenture shall govern.

ARTICLE II

UNIT AND PURCHASE CONTRACT FORMS

     Section 2.01. Forms of Units and Purchase Contracts Generally. The Units and
Purchase Contracts shall be in substantially the forms set forth in Exhibit A and
Exhibit B hereto, respectively, which shall be, and hereby are, incorporated in and made a
part of this Purchase Contract Agreement, with such letters, numbers or other marks of
identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as may be required by the rules of any securities exchange on which the Units or Purchase
Contracts, as the case may be, are (or may in the future be) listed or any depositary therefor, or
as may, consistently herewith, be determined by the officers of the Company executing such Units
and Purchase Contracts, as the case may be, as evidenced by their execution thereof.

     The Units and Purchase Contracts shall be issuable only in registered form and only in
denominations of a single Unit or Purchase Contract, as the case may be, and any integral multiple
thereof.

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     Each Unit, upon authentication, execution and delivery thereof hereunder, shall initially
consist of (i) the number of Purchase Contracts as shall be indicated in the Purchase Contract
attached thereto as Attachment 3 and (ii) the number of Notes as shall be indicated in the Note
attached thereto as Attachment 4, in each case as such numbers may from time to time be reduced or
increased, as appropriate in accordance with the terms of this Agreement.

     Definitive Securities shall be printed, lithographed or engraved with steel engraved borders
or may be produced in any other manner, all as determined by the officers of the Company executing
the Units or Purchase Contracts, as the case may be, evidenced by such Definitive Securities,
consistent with the provisions of this Agreement, as evidenced by their execution thereof.

     Every Global Unit and Global Purchase Contract authenticated, executed on behalf of the
Holders and delivered hereunder shall bear a legend in substantially the following form:

     “THIS SECURITY IS A GLOBAL [UNIT/PURCHASE CONTRACT] WITHIN THE MEANING OF THE PURCHASE
CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL [UNIT/PURCHASE CONTRACT] IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS SECURITY
(OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY
OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS GLOBAL [UNIT/PURCHASE CONTRACT] IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER
HEREOF, CEDE & CO., THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.”

     Section 2.02. Form of Purchase Contract Agent’s Certificate of Authentication. The
form of the Purchase Contract Agent’s certificate of authentication of the Units and Purchase
Contracts shall be in substantially the form set forth in the form of Unit or form of Purchase
Contract, respectively, attached hereto.

     Section 2.03. Global Securities; Separation of Units.

          (a) On any Business Day during the period beginning on, and including, the Business Day
immediately succeeding the date of this Agreement to, but excluding, the third Business Day
immediately preceding the Mandatory Settlement Date, a Holder or Beneficial Owner of a Unit may
separate such Unit into its constituent Purchase Contract and Note (each such separated Purchase
Contract and separated Note, a “Separate Purchase Contract” and “Separate Note,”
respectively), which will thereafter trade under their respective CUSIP numbers (97650W140) and
(97650WAE8), in which case

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that Unit will cease to exist. Beneficial interests in a Unit, and after separation, the
Separate Purchase Contract and Separate Note, will be shown on and transfers will be effected
through direct or indirect participants in DTC. Beneficial interests in Units, Separate Purchase
Contracts and Separate Notes will be evidenced by Global Units, Global Purchase Contracts and
Global Notes, respectively. In order to separate a Unit into its component parts, a Beneficial
Owner must deliver written instruction to the broker or other direct or indirect participant (the
“Participant”) through which such Beneficial Owner holds an interest in such Unit to notify
DTC through DTC’s Deposit/Withdrawal at Custodian System (the “DWAC System”) of such
Beneficial Owner’s election to separate such Unit, unless such Unit is in the form of a Definitive
Security, in which case the Holder thereof must deliver to the Purchase Contract Agent such Unit,
together with a separation notice, in the form set forth in Attachment 1 to the form of Unit
attached hereto as Exhibit A. Upon the receipt of such separation notice, the Company
shall promptly cause delivery, in accordance with the delivery instructions set forth in such
separation notice, of one Separate Purchase Contract and one Separate Note for each such Unit.
Separate Purchase Contracts and Separate Notes will be transferable independently from each other.

          (b) Holders which elect to separate the Note and related Purchase Contract in accordance
with this Section 2.03 shall be responsible for any fees or expenses payable in connection with
such separation, and the Company shall not be responsible for any such fees or expenses.

     Section 2.04. Recreation of Units.

          (a) On any Business Day during the period beginning on, and including, the Business Day
immediately succeeding the date of this Agreement to, but excluding, the third Business Day
immediately preceding the Mandatory Settlement Date, a Holder or Beneficial Owner of a Separate
Purchase Contract and a Separate Note may recreate a Unit (which will thereafter trade under the
CUSIP number for the Units (97650W207)), in which case each such Separate Purchase Contract and
Separate Note will cease to exist. In order to recreate a Separate Purchase Contract and Separate
Note into a Unit, a Beneficial Owner must deliver written instruction to the Participant through
which it holds an interest in such Separate Purchase Contract and Separate Note and to notify DTC
through DTC’s DWAC System of such Beneficial Owner’s election to recreate a Unit, unless such
Separate Purchase Contract and Separate Note are in the form of Definitive Securities, in which
case the Holder thereof must deliver to the Purchase Contract Agent such Definitive Securities,
together with a recreation notice, in the form set forth in Attachment 2 to the form of Unit
attached hereto as Exhibit A. Upon the receipt of such recreation notice, the Company
shall promptly cause delivery, in accordance with the delivery instructions set forth in such
recreation notice, of one Unit in definitive form for such Definitive Securities.

          (b) Holders that recreate Units in accordance with this Section 2.04 shall be responsible
for any fees or expenses payable in connection with such recreation, and the Company shall not be
responsible for any such fees or expenses.

ARTICLE III

THE UNITS AND PURCHASE CONTRACTS

     Section 3.01. Amount and Denominations. The aggregate number of Units and Separate
Purchase Contracts evidenced by Equity-Linked Securities authenticated, executed on behalf of the
Holders and delivered hereunder is limited to 4,000,000 (or 4,600,000 if the underwriters’
over-allotment option is exercised in full), except for Units and Separate Purchase Contracts
authenticated, executed and delivered upon registration of transfer of, in exchange for, or in lieu
of, other Units and Separate Purchase Contracts pursuant to Section 3.04, 3.05, 3.10 or 8.05.

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     Equity-Linked Securities that are not in the form of Global Securities shall be issuable in
denominations of one Equity-Linked Security and integral multiples in excess thereof

     Section 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities. Each
Equity-Linked Security shall evidence the number of Units or Separate Purchase Contracts, as the
case may be, specified therein, with each such Unit and each such Separate Purchase Contract
representing the rights and obligations of the Holder thereof and the Company under one Unit or one
Separate Purchase Contract, respectively.

     Prior to the delivery of shares of Common Stock under each Purchase Contract (whether such
Purchase Contract is held as a component of a Unit or as a Separate Purchase Contract), such
Purchase Contract shall not entitle the Holder thereof to any of the rights of a holder of Common
Stock, including, without limitation, the right to vote or receive any dividends or other payments
or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or
for the election of directors for any other matter, or any other rights whatsoever as a shareholder
of the Company.

     Section 3.03. Execution, Authentication, Delivery and Dating. Upon the execution and
delivery of this Agreement, and at any time and from time to time thereafter, the Company may
deliver Equity-Linked Securities executed by the Company to the Purchase Contract Agent and the
Trustee for authentication by the Purchase Contract Agent and the Trustee, execution on behalf of
the Holders by the Purchase Contract Agent and delivery by the Purchase Contract Agent and the
Trustee, together with the Issuer Order for authentication of such Equity-Linked Securities, and
the Purchase Contract Agent and the Trustee in accordance with such Issuer Order shall, as
appropriate, authenticate, execute on behalf of the Holders and deliver such Equity-Linked
Securities.

     The Equity-Linked Securities shall be executed on behalf of the Company by any officer of the
Company authorized to so act pursuant to a resolution of the Board of Directors. The signature of
any such officer on the Equity-Linked Securities may be manual or facsimile.

     Equity-Linked Securities bearing the manual or facsimile signature of an individual who was at
any time the proper officer of the Company shall bind the Company, notwithstanding that such
individual has ceased to hold such offices prior to the authentication and delivery of such
Equity-Linked Securities or did not hold such offices at the date of such Equity-Linked Securities.

     Each Equity-Linked Security shall be dated the date of its authentication.

     No Equity-Linked Security shall be entitled to any benefit under this Agreement or be valid or
obligatory for any purpose unless there appears on such Equity-Linked Security a certificate of
authentication substantially in the form provided for herein executed by an authorized signatory of
the Purchase Contract Agent and the Trustee by manual signature, and such certificate upon any
Equity-Linked Security shall be conclusive evidence, and the only evidence, that such Equity-Linked
Security has been duly authenticated and delivered hereunder.

     Section 3.04. Temporary Equity-Linked Securities. Pending the preparation of
Definitive Equity-Linked Securities, the Company shall execute and deliver to the Purchase Contract
Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall authenticate, the
Purchase Contract Agent shall execute on behalf of the Holders, and the Purchase Contract Agent and
the Trustee shall deliver, in lieu of such Definitive Equity-Linked Securities, temporary
Equity-Linked Securities that are in substantially the form set forth in Exhibit A or
Exhibit B hereto, as the case may be, with such letters, numbers or other marks of
identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as may be required by the rules of any securities exchange on which the

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Units or Separate Purchase Contracts, as the case may be, are listed, or as may, consistently
herewith, be determined by the officers of the Company executing such Equity-Linked Securities, as
evidenced by their execution of the Equity-Linked Securities.

     If temporary Equity-Linked Securities are issued, the Company will cause Definitive
Equity-Linked Securities to be prepared without unreasonable delay. After the preparation of
Definitive Equity-Linked Securities, the temporary Equity-Linked Securities shall be exchangeable
for Definitive Equity-Linked Securities upon surrender of the temporary Equity-Linked Securities at
the Corporate Trust Office, at the expense of the Company and without charge to the Holder or the
Purchase Contract Agent. Upon surrender for cancellation of any one or more temporary Securities,
the Company shall execute and deliver to the Purchase Contract Agent and the Trustee, and the
Purchase Contract Agent and the Trustee shall authenticate, execute on behalf of the Holder, and
deliver in exchange therefor, one or more Definitive Equity-Linked Securities of like tenor and
denominations and evidencing a like number of Units or Separate Purchase Contracts, as the case may
be, as the temporary Equity-Linked Security or Equity-Linked Securities so surrendered. Until so
exchanged, the temporary Equity-Linked Securities shall in all respects evidence the same benefits
and the same obligations with respect to the Units or Separate Purchase Contracts, as the case may
be, evidenced thereby as Definitive Equity-Linked Securities.

     Section 3.05. Registration; Registration of Transfer and Exchange. The Company shall
cause to be kept at the Corporate Trust Office a register (the “Security Register”) in
which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Equity-Linked Securities and of transfers of Equity-Linked Securities. The
Purchase Contract Agent is hereby initially appointed Security Registrar (the “Security
Registrar”) for the purpose of registration of Equity-Linked Securities and transfers of
Equity-Linked Securities as provided herein. The Security Registrar shall record separately the
registration and transfer of the Equity-Linked Securities evidencing Units and Separate Purchase
Contracts.

     Upon surrender for registration of transfer of any Equity-Linked Security at the Corporate
Trust Office, the Company shall execute and deliver to the Purchase Contract Agent and the Trustee,
and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent
shall execute on behalf of the designated transferee or transferees, and the Purchase Contract
Agent and the Trustee shall deliver, in the name of the designated transferee or transferees, one
or more new Equity-Linked Securities of any authorized denominations, of like tenor, and evidencing
a like number of Units or Separate Purchase Contracts, as the case may be.

     At the option of the Holder, Equity-Linked Securities may be exchanged for other Equity-Linked
Securities, of any authorized denominations and evidencing a like number of Units or Separate
Purchase Contracts, as the case may be, upon surrender of the Equity-Linked Securities to be
exchanged at the Corporate Trust Office. Whenever any Equity-Linked Securities are so surrendered
for exchange, the Company shall execute and deliver to the Purchase Contract Agent and the Trustee,
and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent
shall execute on behalf of the Holder, and the Purchase Contract Agent and the Trustee shall
deliver the Equity-Linked Securities that the Holder making the exchange is entitled to receive.

     All Equity-Linked Securities issued upon any registration of transfer or exchange of an
Equity-Linked Security shall evidence the ownership of the same number of Units or Separate
Purchase Contracts, as the case may be, and be entitled to the same benefits and subject to the
same obligations, under this Agreement as the Units or Separate Purchase Contracts, as the case may
be, evidenced by the Equity-Linked Security surrendered upon such registration of transfer or
exchange.

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     Every Equity-Linked Security presented or surrendered for registration of transfer or exchange
shall (if so required by the Purchase Contract Agent) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company, the Purchase Contract Agent and
the Trustee duly executed by the Holder thereof, or its attorney duly authorized in writing.

     No service charge shall be made for any registration of transfer or exchange of an
Equity-Linked Security, but the Company may require payment from the Holder of a sum sufficient to
cover any applicable tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Equity-Linked Securities, other than any exchanges pursuant
to Section 3.06 and Section 8.05 not involving any transfer.

     Notwithstanding the foregoing, the Company shall not be obligated to execute and deliver to
the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall
not be obligated to authenticate, the Purchase Contract Agent shall not be obligated to execute on
behalf of the Holder, and the Purchase Contract Agent and the Trustee shall not be obligated to
deliver any Equity-Linked Security in exchange for any other Equity-Linked Security presented or
surrendered for registration of transfer or for exchange on or after the Business Day immediately
preceding the earliest of the Mandatory Settlement Date, any Early Settlement Date and any
Fundamental Change Early Settlement Date with respect to such Equity-Linked Security. In lieu of
delivery of a new Equity-Linked Security, upon satisfaction of the applicable conditions specified
above in this Section and receipt of appropriate registration of transfer instructions from such
Holder, the Purchase Contract Agent shall, if the Mandatory Settlement Date, any Early Settlement
Date or any Fundamental Change Early Settlement Date shall have occurred with respect to such
Equity-Linked Security, deliver the shares of Common Stock deliverable in respect of the Purchase
Contracts evidenced by such Equity-Linked Security (together with the Separate Note, if such
Equity-Linked Security is a Unit).

     Section 3.06. Book-Entry Interests. The Units, on original issuance, will be issued
in the form of one or more fully registered Global Units, to be delivered to the Depositary or its
custodian by, or on behalf of, the Company. The Company hereby designates DTC as the initial
Depositary. Such Global Units shall initially be registered on the books and records of the
Company in the name of Cede & Co., the nominee of DTC, and no Beneficial Owner will receive a
Definitive Unit representing such Beneficial Owner’s interest in such Global Unit, except as
provided in Section 3.09. The Purchase Contract Agent shall enter into an agreement with the
Depositary if so requested by the Company in writing. Unless and until definitive, fully
registered Securities have been issued to Beneficial Owners pursuant to Section 3.09:

          (i) the provisions of this Section 3.06 shall be in full force and effect;

          (ii) except as contemplated in the definition of “Holders” in Section 1.01(e), the Company
shall be entitled to deal with the Depositary for all purposes of this Agreement (including
receiving approvals, votes or consents hereunder) as the Holder of the Global Units and Global
Purchase Contracts and shall have no obligation to the Beneficial Owners;

          (iii) to the extent that the provisions of this Section 3.06 conflict with any other
provisions of this Agreement, the provisions of this Section 3.06 shall control; and

          (iv) the rights of the Beneficial Owners shall be exercised only through the Depositary
and shall be limited to those established by law and agreements between such Beneficial Owners and
the Depositary or the Depositary Participants.

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     Section 3.07. Notices to Holders. Whenever a notice or other communication to the
Holders is required to be given under this Agreement, the Company or the Company’s agent shall give
such notices and communications to the Holders and, with respect to any Units or Purchase Contracts
registered in the name of the Depositary or the nominee of the Depositary, the Company or the
Company’s agent shall, except as set forth herein, have no obligations to the Beneficial Owners.

     Section 3.08. Appointment of Successor Depositary. If the Depositary elects to
discontinue its services as securities depositary with respect to the Units or Purchase Contracts,
the Company may, in its sole discretion, appoint a successor Depositary with respect to such Units
or such Purchase Contracts, as the case may be.

     Section 3.09. Definitive Securities. If:

          (i) the Depositary is unwilling or unable to continue as Depositary for the Global
Securities and the Company is unable to find a qualified replacement for the Depositary within 90
days;

          (ii) at any time the Depositary ceases to be a Clearing Agency; or

          (iii) the Company in its sole discretion decides to allow some or all Global Securities to
be exchangeable for Definitive Securities,

then (x) Definitive Securities shall be prepared by the Company with respect to such Global
Securities and delivered to the Purchase Contract Agent and the Trustee, as appropriate, pending
delivery as provided in clause (y) below, and (y) upon surrender of such Global Securities by the
Depositary, accompanied by registration instructions, the Company shall cause Definitive Securities
to be delivered to Beneficial Owners in accordance with the instructions of the Depositary. The
Company shall not be liable for any delay in delivery of such instructions and may conclusively
rely on, and shall be protected in relying on, such instructions. Each Definitive Security so
delivered shall evidence Units, Purchase Contracts or Notes, as the case may be, of the same kind
and tenor as the Global Security so surrendered in respect thereof. Notwithstanding the foregoing,
the exchange of Global Notes for Notes in definitive form shall be governed by the Indenture.

     Section 3.10. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated
Equity-Linked Security is surrendered to the Purchase Contract Agent, the Company shall execute and
deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the
Trustee shall authenticate, the Purchase Contract Agent shall execute on behalf of the Holder, and
the Purchase Contract Agent and the Trustee shall deliver in exchange therefor, a new Equity-Linked
Security, evidencing the same number of Units or Separate Purchase Contracts, as the case may be,
and bearing a security number not contemporaneously outstanding.

     If there shall be delivered to the Company and the Purchase Contract Agent (i) evidence to
their satisfaction of the destruction, loss or theft of any Equity-Linked Security, and (ii) such
security or indemnity as may be reasonably required by them to hold each of them and any agent of
any of them harmless, then, in the absence of notice to the Company, the Purchase Contract Agent or
the Trustee that such Equity-Linked Security has been acquired by a protected purchaser, the
Company shall execute and deliver to the Purchase Contract Agent and the Trustee, and the Purchase
Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent shall execute on
behalf of the Holder, and the Purchase Contract Agent and the Trustee shall deliver to the Holder,
in lieu of any such destroyed, lost or stolen Equity-Linked Security, a new Equity-Linked Security,
evidencing the same number of Units or Separate Purchase Contracts, as the case may be, and bearing
a security number not contemporaneously outstanding.

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     Notwithstanding the foregoing, the Company shall not be obligated to execute and deliver to
the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall
not be obligated to authenticate, the Purchase Contract Agent shall not be obligated to execute on
behalf of the Holder, and the Purchase Contract Agent and the Trustee shall not be obligated to
deliver to the Holder, an Equity-Linked Security on or after the Business Day immediately preceding
the earliest of the Mandatory Settlement Date, any Early Settlement Date and any Fundamental Change
Early Settlement Date with respect to such Equity-Linked Securities. In lieu of delivery of a new
Equity-Linked Security, upon satisfaction of the applicable conditions specified above in this
Section and receipt of appropriate registration of transfer instructions from such Holder, the
Purchase Contract Agent shall, if the Mandatory Settlement Date, any Early Settlement Date or any
Fundamental Change Early Settlement Date with respect to such Equity-Linked Securities has
occurred, deliver the shares of Common Stock deliverable in respect of the Purchase Contracts
evidenced by such Equity-Linked Security (together with the Separate Note, if such Equity-Linked
Security is a Unit).

     Upon the issuance of any new Equity-Linked Security under this Section 3.10, the Company and
the Purchase Contract Agent may require the payment by the Holder of a sum sufficient to cover any
applicable tax or other governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Purchase Contract Agent) connected therewith.

     Every new Equity-Linked Security issued pursuant to this Section 3.10 in lieu of any
destroyed, lost or stolen Equity-Linked Security shall constitute an original additional
contractual obligation of the Company and of the Holder in respect of the Unit or Separate Purchase
Contract, as the case may be, evidenced thereby, whether or not the destroyed, lost or stolen
Equity-Linked Security shall be found at any time. Such new Equity-Linked Security (and the Units
or Separate Purchase Contracts, as applicable, evidenced thereby) shall be at any time enforceable
by anyone, and shall be entitled to all the benefits and be subject to all the obligations of this
Agreement equally and proportionately with any and all other Equity-Linked Securities delivered
hereunder.

     The provisions of this Section 3.10 are exclusive and shall preclude, to the extent lawful,
all other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Equity-Linked Securities.

     Section 3.11. Persons Deemed Owners. Prior to due presentment of an Equity-Linked
Security for registration of transfer, the Company and the Purchase Contract Agent, and any agent
of the Company or the Purchase Contract Agent, may treat the Person in whose name such
Equity-Linked Security is registered as the owner of the Unit or Purchase Contract, as the case may
be, evidenced thereby, for the purpose of performance of the Units or Purchase Contracts, as
applicable, evidenced by such Equity-Linked Securities and for all other purposes whatsoever, and
neither the Company nor the Purchase Contract Agent, nor any agent of the Company or the Purchase
Contract Agent, shall be affected by notice to the contrary.

     Notwithstanding the foregoing, with respect to any Global Unit or Global Purchase Contract,
nothing contained herein shall prevent the Company, the Purchase Contract Agent or any agent of the
Company or the Purchase Contract Agent, from giving effect to any written certification, proxy or
other authorization furnished by the Depositary (or its nominee), as a Holder, with respect to such
Global Unit or Global Purchase Contract or impair, as between such Depositary and the related
Beneficial Owner, the operation of customary practices governing the exercise of rights of the
Depositary (or its nominee) as Holder of such Global Unit or Global Purchase Contract.

     None of the Purchase Contract Agent, the Trustee, the Paying Agent and the Security Registrar
shall have any responsibility or obligation to any Beneficial Owner in a Global Security, an agent
member

25

 

or other Person with respect to the accuracy of the records of the Depositary or its nominee or of
any agent member, with respect to any ownership interest in the Securities or with respect to the
delivery to any agent member, beneficial owner or other Person (other than the Depositary) of any
notice or the payment of any amount, under or with respect to such Securities. All notices and
communications to be given to the Holders and all payments to be made to Holders under the
Securities and this Agreement shall be given or made only to or upon the order of the registered
holders (which shall be the Depositary or its nominee in the case of a Global Security). The
rights of beneficial owners in Global Securities shall be exercised only through the Depositary
subject to the applicable procedures. The Purchase Contract Agent, the Trustee, the Paying Agent
and the Registrar shall be entitled to rely and shall be fully protected in relying upon
information furnished by the Depositary with respect to its members, participants and any
beneficial owners. The Purchase Contract Agent, the Trustee, the Paying Agent and the Registrar
shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered
holder of any Global Security for all purposes of this Agreement relating to such Global Security
(including the payment or delivery of amounts due hereunder and the giving of instructions or
directions by or to the owner or holder of a beneficial ownership interest in such Global Security)
as the sole holder of such Global Security and shall have no obligations to the beneficial owners
thereof. None of the Purchase Contract Agent, the Trustee, the Paying Agent and the Security
Registrar shall have any responsibility or liability for any acts or omissions of the Depositary
with respect to such Global Security, for the records of any such Depositary, including records in
respect of beneficial ownership interests in respect of any such Global Security, for any
transactions between the Depositary and any agent member or between or among the Depositary, any
such agent member and/or any holder or owner of a beneficial interest in such Global Security, or
for any transfers of beneficial interests in any such Global Security.

     Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall
prevent the Company, the Purchase Contract Agent, the Trustee, or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by
any Depositary (or its nominee), as a Holder, with respect to such Global Security or shall impair,
as between such Depositary and owners of beneficial interests in such Global Security, the
operation of customary practices governing the exercise of the rights of such Depositary (or its
nominee) as Holder of such Global Security.

     None of the Purchase Contract Agent, the Trustee, the Paying Agent or the Registrar shall have
any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Agreement or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among participants of DTC, members or
Beneficial Owners in any Global Security) 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 Agreement, and to examine the same to determine substantial
compliance as to form with the express requirements hereof.

     Section 3.12. Cancellation. All Securities surrendered for separation or recreation
and all Equity-Linked Securities surrendered for settlement or upon the registration of transfer or
exchange of a Purchase Contract shall, if surrendered to any Person other than the Purchase
Contract Agent, be delivered to the Purchase Contract Agent and, if not already cancelled, be
promptly cancelled by it. In the case of a Unit or Units surrendered for settlement, the Company
and the Trustee shall promptly authenticate and deliver in accordance with the terms of the
Indenture to the Holder thereof a number of Separate Notes equal to the number of, and in the same
form as, the Units so surrendered (other than in the case of settlement on the Mandatory Settlement
Date if there shall not remain any unpaid amounts payable by the Company with respect to the Notes,
whether in respect of principal, premium or interest thereon or otherwise). The Company may at any
time deliver to the Purchase Contract Agent for cancellation any Equity-Linked Securities
previously authenticated, executed and delivered hereunder that the Company may have acquired in
any manner whatsoever, and all Equity-Linked Securities so

26

 

delivered shall, upon an Issuer Order, be promptly cancelled by the Purchase Contract Agent;
provided, however, that if the Equity-Linked Securities so delivered are Units, the Purchase
Contract Agent shall deliver the Notes comprising such Units to the Trustee and Paying Agent (as
defined in the Indenture) for disposition in accordance with the provisions of the Indenture. No
Equity-Linked Securities shall be authenticated, executed on behalf of the Holder and delivered in
lieu of or in exchange for any Securities cancelled as provided in this Section, except as
expressly permitted by this Agreement. All cancelled Equity-Linked Securities held by the Purchase
Contract Agent shall be disposed of in accordance with its customary practices.

     If the Company or any Affiliate of the Company shall acquire any Equity-Linked Security, such
acquisition shall not operate as a cancellation of such Equity-Linked Security unless and until
such Equity-Linked Security is delivered to the Purchase Contract Agent for cancellation, in which
case such Equity-Linked Security shall be accompanied by an Issuer Order and cancelled in
accordance with the immediately preceding paragraph.

ARTICLE IV

SETTLEMENT OF THE PURCHASE CONTRACTS

     Section 4.01. Settlement Rate. Each Purchase Contract obligates the Company to
deliver to each Holder, on the Mandatory Settlement Date, a number of shares of Common Stock
(subject to Section 4.04) equal to the Settlement Rate as determined by the Company unless a Holder
settles such Purchase Contract prior to the Mandatory Settlement Date pursuant to Section 5.03 or
Section 5.04.

     The “Settlement Rate” is equal to:

          (i) if the Applicable Market Value is equal to or greater than $37.50 (the “Threshold
Appreciation Price”), 1.3333 shares of Common Stock for each Purchase Contract (the
“Minimum Settlement Rate”);

          (ii) if the Applicable Market Value is less than the Threshold Appreciation Price but
greater than $30.00 (the “Reference Price”), a number of shares of Common Stock for each
Purchase Contract equal to the Stated Amount, divided by the Applicable Market Value; and

          (iii) if the Applicable Market Value is less than or equal to the Reference Price, 1.6666
shares of Common Stock for each Purchase Contract (the “Maximum Settlement Rate”);

provided that the Maximum Settlement Rate, the Minimum Settlement Rate (each, a “Fixed
Settlement Rate”) and the Applicable Market Value shall be subject to adjustment as provided in
Article 5.

     Section 4.02. Representations and Agreements of Holders. Each Holder and beneficial
owner of a Purchase Contract by its acceptance thereof:

          (i) irrevocably authorizes the Purchase Contract Agent to enter into and perform this
Agreement on its behalf as its attorney-in-fact;

          (ii) consents to the provisions hereof;

          (iii) represents and warrants that its acquisition, holding and subsequent settlement or
disposition of the Purchase Contracts is consistent with its fiduciary duties, if any, under ERISA
or Similar Law and will not constitute or result in a non-exempt prohibited transaction under ERISA
or Section 4975 of the Code or a violation of any applicable Similar Law;

27

 

          (iv) in the case of a Holder that holds a Unit and, by acceptance of a beneficial
ownership interest in a Unit, each beneficial owner of a beneficial interest in a Unit agrees, for
United States federal, state and local tax purposes, to treat (1) a Unit as an investment unit
composed of two separate instruments, in accordance with its form and (2) the Notes as
indebtedness; and

          (v) agrees to be bound by the terms and provisions thereof.

     Section 4.03. Delivery Upon Settlement of the Purchase Contracts.

          (a) Unless the Purchase Contracts have previously settled, the Company shall on the
Mandatory Settlement Date issue and deliver to the Purchase Contract Agent, for the benefit of the
Holders of the Outstanding Purchase Contracts, the aggregate number of shares of Common Stock to
which such Holders are entitled hereunder, registered in the name of the Purchase Contract Agent
(or its nominee) as custodian for the Holders (such shares of Common Stock, together with any
dividends or distributions which shall have been paid thereon, the related record date for which
shall have occurred after the due date for the delivery of the Common Stock to the Purchase
Contract Agent, the “Purchase Contract Settlement Fund”).

          (b) Upon book-entry transfer of the Units or Separate Purchase Contracts or delivery of
Units or Separate Purchase Contracts in definitive form to the Purchase Contract Agent with duly
completed transfer instructions by a Holder or by or on behalf of a Beneficial Owner, the Purchase
Contract Agent shall transfer to such Holder or to or on behalf of such Beneficial Owner the shares
of Common Stock underlying such Purchase Contracts, together with (i) cash in lieu of fractional
shares as provided in Section 4.04, (ii) the Separate Note (in the case of the transfer or delivery
of Units, but not in the case of settlement on the Mandatory Settlement Date if there remain no
unpaid amounts thereon (whether principal, premium, interest or otherwise) on the Mandatory
Settlement Date) and (iii) any dividends or distributions with respect to such shares constituting
part of the Purchase Contract Settlement Fund, but without any interest thereon, to such Holder by
book-entry transfer, or other appropriate procedures, in accordance with such instructions.

     Such shares shall be registered in the name of the Holder or the Holder’s designee as
specified in the settlement instructions provided by the Holder to the Purchase Contract Agent, and
the Company will pay all stock transfer and similar taxes attributable to the delivery thereof,
unless any such transfer or similar tax is payable in respect of any registration of such shares in
a name of a Person other than the Person in whose name the Security evidencing such Purchase
Contract is registered, in which case the Company shall not be required to pay any such transfer or
similar tax and no such registration shall be made unless the Person requesting such registration
has paid any such transfer or similar taxes required by reason of such registration in a name of a
Person other than the Person in whose name the Security evidencing such Purchase Contract is
registered or has established to the satisfaction of the Company that such tax either has been paid
or is not payable.

     In the event a Holder fails to effect such transfer or delivery, the shares of Common Stock
underlying such Purchase Contracts, and any distributions thereon comprising a part of the Purchase
Contract Settlement Fund, shall be held in the name of the Purchase Contract Agent or its nominee
in trust for the benefit of such Holder, until the earlier to occur of:

          (i) the surrender of the relevant Units or Separate Purchase Contracts or receipt by the
Company and the Purchase Contract Agent from such Holder of satisfactory evidence that such Units
or Separate Purchase Contracts have been destroyed, lost or stolen, together with any indemnity
that may be required by the Purchase Contract Agent and the Company; and

28

 

          (ii) the expiration of the time period specified in the abandoned property laws of the
relevant jurisdiction.

     Section 4.04. No Fractional Shares. No fractional shares or scrip certificates
representing fractional shares of Common Stock shall be issued or delivered to Holders upon
settlement of the Purchase Contracts. In lieu of any fractional shares of Common Stock that would
otherwise be issuable upon settlement of any Purchase Contracts, a Holder of a Security shall be
entitled to receive an amount in cash equal to the fraction of a share of Common Stock, calculated
on an aggregate basis in respect of all of the Purchase Contracts being settled, multiplied
by the Closing Price of the Common Stock on the Trading Day immediately preceding the Mandatory
Settlement Date, Early Settlement Date or Fundamental Change Early Settlement, as the case may be.
The Company shall provide the Purchase Contract Agent from time to time with sufficient funds to
permit the Purchase Contract Agent to make all cash payments required by this Section 4.04 in a
timely manner.

     Section 4.05. Consequences of Bankruptcy. The Mandatory Settlement Date for each
Purchase Contract, whether held separately or as part of a Unit, shall automatically accelerate
upon the occurrence of a Termination Event with respect to the Company. Upon such acceleration,
Holders will be entitled to receive a number of shares of Common Stock per Purchase Contract equal
to the Maximum Settlement Rate in effect immediately prior to such acceleration (regardless of the
market value of the Common Stock at that time).

ARTICLE V

ADJUSTMENTS

     Section 5.01. Adjustments to the Fixed Settlement Rates.

          (a) Each Fixed Settlement Rate shall be adjusted, from time to time and without
duplication, by the Company as described in this Section 5.01 upon the occurrence of any of the
following events:

          (i) the issuance of Common Stock as a dividend or distribution to all holders of Common
Stock, or a subdivision or combination of Common Stock, in which event each Fixed Settlement Rate
will be adjusted based on the following formula:

SR1 = SR0 x (OS1 ÷ OS0)

     where,

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the open of business on the Ex-Date for such
dividend or distribution or immediately prior to the
open of business on the effective date for such
subdivision or combination, as the case may be;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the open of business on such Ex-Date or immediately
after the open of business on such effective date, as
the case may be;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding
immediately prior to such Ex-Date or immediately
prior to such effective date, as the case may be, in
either case prior to giving effect to such event; and

29

 

	 	 	 	 	 	 	 

	 

	 	OS1
	 	=
	 	the number of shares of Common Stock that would be
outstanding immediately after giving effect to such
dividend, distribution, subdivision or combination.

Any adjustment made under this clause (i) shall become effective immediately after the open of
business on the Ex-Date for such dividend or distribution, or immediately after the open of
business on the effective date for such share split or share combination, as the case may be. If
any dividend or distribution of the type described in this clause (i) is declared but not so paid
or made, each Fixed Settlement Rate shall be immediately readjusted, effective as of the date the
Board of Directors determines not to pay such dividend or distribution, to the Fixed Settlement
Rate that would then be in effect if such dividend or distribution had not been declared.

          (ii) the issuance to all holders of Common Stock of rights, options or warrants entitling
them for a period expiring 60 days or less from the date of issuance of such rights, options or
warrants to subscribe for or purchase shares of Common Stock at less than the average of the Daily
VWAPs for the 10 consecutive Trading Day period ending on and including the Trading Day immediately
preceding the date of the announcement date of such issuance, in which event each Fixed Settlement
Rate will be adjusted based on the following formula:

SR1
=
SR0
x
(OS0
+ X) ÷
(OS0 + Y)

     where,

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the open of business on the Ex-Date for such
issuance;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the open of business on such Ex-Date;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding
immediately prior to the open of business on such
Ex-Date;
	 
	 	 	 	 	 	 
	 

	 	X
	 	=
	 	the total number of shares of Common Stock issuable
pursuant to such rights, options or warrants; and
	 
	 	 	 	 	 	 
	 

	 	Y
	 	=
	 	the aggregate price payable to exercise such rights,
options or warrants, divided by the average of the
Daily VWAPs for the 10 consecutive Trading Day period
ending on and including the Trading Day immediately
preceding the announcement date for such issuance.

Any increase made under this clause (ii) will be made successively whenever any such rights,
options or warrants are issued and shall become effective immediately after the open of business on
the Ex-Date for such issuance. To the extent that shares of Common Stock are not delivered after
the expiration of such rights, options or warrants, each Fixed Settlement Rate shall be decreased,
effective as of the date of such expiration, to the Fixed Settlement Rate that would then be in
effect had the increase with respect to the issuance of such rights, options or warrants been made
on the basis of delivery of only the number of shares of Common Stock actually delivered. If such
rights, options or warrants are not so issued, each Fixed Settlement Rate shall be decreased,
effective as of the date the Board of Directors determines not to make such issuance, to the Fixed
Settlement Rate that would then be in effect if the Record Date for such issuance had not occurred.

30

 

In determining whether any rights, options or warrants entitle the holders to subscribe for or
purchase shares of Common Stock at less than the average of the Daily VWAPs for the 10 consecutive
Trading Day period ending on and including the Trading Day immediately preceding the announcement
date for such issuance, and in determining the aggregate price payable to exercise such rights,
options or warrants, there shall be taken into account any consideration received by the Company
for such rights, options or warrants and any amount payable on exercise or conversion thereof, the
value of such consideration, if other than cash, to be determined by the Board of Directors.

          (iii) the dividend or other distribution to all holders of the Common Stock of shares of
Capital Stock of the Company (other than Common Stock), evidences of the Company’s indebtedness,
the Company’s assets or rights to acquire Capital Stock of the Company, indebtedness or assets of
the Company (excluding any dividend, distribution or issuance as to which an adjustment was made
pursuant to clauses (i) or (ii) above, (iv) below or the provisions of this clause (iii) relating
to spin-offs), in which event each Fixed Settlement Rate will be adjusted based on the following
formula:

SR1
=
SR0
x
SP0
÷
(SP0
— FMV)

     where,

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the open of business on the Ex-Date for such
issuance;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the open of business on such Ex-Date;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	the average of the Daily VWAPs for the 10 consecutive
Trading Day period ending on and including the
Trading Day immediately preceding such Ex-Date; and
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the fair market value (as determined by the Board of
Directors), on the Ex-Date, for such dividend or
distribution of the shares of Capital Stock of the
Company, evidences of indebtedness, assets or rights
so distributed, expressed as an amount per share of
Common Stock.

Any increase made under this portion of clause (iii) will become effective immediately after the
open of business on the Ex-Date for such dividend or distribution. If such distribution is not so
paid or made, each Fixed Settlement Rate shall be decreased, effective as of the date the Board of
Directors determines not to pay the dividend or distribution, to the Fixed Settlement Rate that
would then be in effect if such dividend or distribution had not been declared.

Notwithstanding the foregoing, if the transaction that gives rise to an adjustment pursuant to this
clause (iii) is one pursuant to which the payment of a dividend or other distribution on the Common
Stock consists of shares of Capital Stock of, or similar equity interests in, a Subsidiary or other
business unit of the Company, (i.e., a spin-off) that are, or, when issued, will be, traded on a
U.S. national or regional securities exchange, then each Fixed Settlement Rate will instead be
adjusted based on the following formula:

SR1 = SR0 x (FMV0 + MP0) ÷ MP0

     where,

31

 

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the close of business on the 10th consecutive
Trading Day commencing on, and including, the third
Trading Day after the date on which “ex-distribution
trading” commences for such dividend or distribution
on the relevant exchange;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the close of business on the 10th consecutive Trading
Day commencing on, and including, the third Trading
Day after the date on which “ex-distribution trading”
commences for such dividend or distribution on the
relevant exchange;
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the average of the VWAPs of the Capital Stock or
similar equity interests distributed to holders of
Common Stock applicable to one share of Common Stock
over each of the 10 consecutive Trading Days
commencing on, and including, the third Trading Day
after the date on which “ex-distribution trading”
commences for such dividend or distribution on the
Nasdaq Global Select Market or such other United
States national or regional securities exchange on
which such Capital Stock or similar equity interests
are then listed; and
	 
	 	 	 	 	 	 
	 

	 	MP0
	 	=
	 	the average of the Daily VWAPs of the Common Stock
over each of the 10 consecutive Trading Days
commencing on, and including, the third Trading Day
after the date on which “ex-distribution trading”
commences for such dividend or distribution.

The adjustment to each Fixed Settlement Rate under this portion of clause (iii) will become
effective immediately after the close of business on the 10th consecutive Trading Day commencing
on, and including, the third Trading Day after the date on which “ex-distribution trading”
commences for such dividend or distribution on the relevant exchange; provided that in respect of
any settlement within 10 Trading Days immediately following the third Trading Day after the date on
which “ex-distribution trading” commences for such dividend or distribution on the relevant
exchange, the reference set forth in the calculation above to 10 consecutive Trading Days shall be
deemed replaced with such lesser number of Trading Days as have elapsed between such third Trading
Day and the applicable settlement date in determining the applicable Fixed Settlement Rates.

          (iv) the Company makes a distribution consisting exclusively of cash to all holders of the
Common Stock, excluding (a) any cash that is distributed as part of a distribution referred to in
clause (iii) above, (b) any consideration payable in connection with a tender or exchange offer
made by the Company or any of its Subsidiaries referred to in clause (v) below and (c) any regular
semi-annual dividend that does not exceed $0.09 per share (the “Dividend Threshold
Amount”), in which event, each Fixed Settlement Rate will be adjusted based on the following
formula:

SR1
=
SR0
x
SP0
÷
(SP0
— C)

     where,

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the open of business on the Ex-Date for such
distribution;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the open of business on such Ex-Date;

32

 

	 	 	 	 	 	 	 

	 

	 	SP0
	 	=
	 	the average of the Daily VWAPs for the 10 consecutive
Trading Day period ending on and including the
Trading Day immediately preceding such Ex-Date; and
	 
	 	 	 	 	 	 
	 

	 	C
	 	=
	 	the amount in cash per share the Company distributes
to holders of Common Stock in excess of the Dividend
Threshold Amount; provided that if the distribution
is not a regular semi-annual cash dividend, then the
Dividend Threshold Amount will be deemed to be zero.

The Dividend Threshold Amount is subject to adjustment on an inversely proportional basis whenever
the Fixed Settlement Rate is adjusted (by multiplying the Dividend Threshold Amount by a fraction,
the numerator of which will be the Minimum Settlement Rate in effect immediately prior to the
adjustment and the denominator of which will be the Minimum Settlement Rate as adjusted), but no
adjustment will be made to the Dividend Threshold Amount for any adjustment made to the Fixed
Settlement Rate pursuant to this clause (iv). Any increase to each Fixed Settlement Rate made
pursuant to this clause (iv) shall become effective immediately after the open of business on the
Ex-Date for such distribution. If any dividend or distribution described in this clause (iv) is
declared but not so paid or made, each Fixed Settlement Rate shall be decreased, effective as of
the date the Board of Directors determines not to pay or make such distribution, to the Fixed
Settlement Rate that would then be in effect if such distribution had not been declared.

          (v) the Company or one or more of its Subsidiaries makes purchases of Common Stock
pursuant to a tender offer or exchange offer by the Company or one of its Subsidiaries for Common
Stock to the extent that the cash and value of any other consideration included in the payment per
share of Common Stock validly tendered or exchanged exceeds the Daily VWAP per share of Common
Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made
pursuant to such tender or exchange offer (the “Expiration Date”), in which event each
Fixed Settlement Rate will be adjusted based on the following formula:

SR1
=
SR0
x (FMV +
(SP1
x
OS1))
÷ (SP1 x
 OS0)

     where,

	 	 	 	 	 	 	 

	 

	 	SR0
	 	=
	 	the Fixed Settlement Rate in effect immediately prior
to the close of business on the 10th Trading Day
immediately following, and including, the Trading Day
next succeeding the Expiration Date;
	 
	 	 	 	 	 	 
	 

	 	SR1
	 	=
	 	the Fixed Settlement Rate in effect immediately after
the close of business on the 10th Trading Day
immediately following, and including, the Trading Day
next succeeding the Expiration Date;
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the fair market value (as determined by the Board of
Directors), on the Expiration Date, of the aggregate
value of all cash and any other consideration paid or
payable for shares validly tendered or exchanged and
not withdrawn as of the Expiration Date;
	 
	 	 	 	 	 	 
	 

	 	OS1
	 	=
	 	the number of shares of Common Stock outstanding
immediately after the last time tenders or exchanges
may be made pursuant to such tender or exchange offer
(the “Expiration Time”) (after giving effect to the
purchase or exchange of shares pursuant to such
tender offer or exchange offer);

33

 

	 	 	 	 	 	 	 

	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding
immediately prior to the Expiration Time; and
	 
	 	 	 	 	 	 
	 

	 	SP1
	 	=
	 	the average Daily VWAPs of the Common Stock over the
10 consecutive Trading Day period commencing on, and
including, the Trading Day immediately after the
Expiration Date.

The adjustments to the Fixed Settlement Rates under this clause (v) will become effective
immediately after the close of business on the 10th Trading Day immediately following, and
including, the Trading Day next succeeding the Expiration Date; provided that in respect of any
settlement within 10 Trading Days immediately following, and including, the Expiration Date,
references with respect to 10 Trading Days shall be deemed replaced with such lesser number of
Trading Days as have elapsed between the Expiration Date and the applicable settlement date in
determining the applicable Fixed Settlement Rates. If the Company or one of its Subsidiaries is
obligated to purchase Common Stock pursuant to any such tender or exchange offer but the Company or
the relevant Subsidiary is permanently prevented by applicable law from effecting any such purchase
or all such purchases are rescinded, the Fixed Settlement Rates shall be immediately adjusted to
the Fixed Settlement Rates that would then be in effect if such tender or exchange offer had not
been made.

          (b) Except as stated in subsection (a) above or as otherwise agreed, the Fixed Settlement
Rates shall not be adjusted for the issuance of Common Stock or any securities convertible into or
exchangeable for Common Stock or carrying the right to purchase any of the foregoing or for the
repurchase of Common Stock. In addition, there shall be no adjustment to the Fixed Settlement Rates
in case of the issuance of any shares of Common Stock in a merger, reorganization, acquisition,
reclassification, recapitalization or other similar transaction except as provided in this Section
5.01 and Section 5.02.

          (c) To the extent that the Company has a rights plan in effect upon settlement of a
Purchase Contract, the Holder of such Purchase Contract will receive, in addition to Common Stock,
the rights under the rights plan, unless, prior to the settlement of such Purchase Contract, the
rights have separated from the Common Stock, in which case each Fixed Settlement Rate shall be
adjusted at the time of separation as if the Company made a distribution to all holders of the
Common Stock as described in Section 5.01(a)(iii), subject to readjustment in accordance with
Section 5.01(a)(iii) in the event of the expiration, termination or redemption of such rights.

          (d) The Company may, but shall not be required to, make such increases in each Fixed
Settlement Rate as the Company deems advisable. The Company may only make such a discretionary
adjustment if the Company makes the same proportionate adjustment to each Fixed Settlement Rate. No
adjustment in either Fixed Settlement Rate will be required unless such adjustment would require an
increase or decrease of at least one percent; provided, however, that any such
minor adjustments that are not required to be made will be carried forward and taken into account
in any subsequent adjustment, and provided further that any such adjustment of less
than one percent that has not been made shall be made (x) upon the end of the Company’s fiscal year
commencing with the 2010 fiscal year and (y) upon the Mandatory Settlement Date or any earlier
Fundamental Change Early Settlement Date or Early Settlement Date.

          (e) Adjustments to each Fixed Settlement Rate shall be calculated to the nearest
1/10,000th of a share.

          (f) Whenever the Fixed Settlement Rates are adjusted, the Company must deliver to the
Purchase Contract Agent an Officers’ Certificate setting forth each Fixed Settlement Rate,
detailing

34

 

the calculation of each Fixed Settlement Rate and describing the facts upon which the
adjustment is based. In addition, the Company must notify the Holders of Units and Separate
Purchase Contracts of the adjustment within 10 Business Days of any event requiring such adjustment
and describe in reasonable detail the method by which each Fixed Settlement Rate was adjusted; such
notification may be made by a press release (notwithstanding Section 1.06). The Purchase Contract
Agent shall not at any time be under any duty or responsibility to any Holder of Purchase Contracts
to determine whether any facts exist that may require any adjustment of any Fixed Settlement Rate
or Reference Property, or with respect to the nature or extent or calculation of any such
adjustment when made, or with respect to the method employed in making the same. The Purchase
Contract Agent shall not be accountable with respect to the validity or value (or the kind or
amount) of any shares of Common Stock or other Reference Property that may at the time be delivered
with respect to any Purchase Contract, and the Purchase Contract Agent makes no representation with
respect thereto. The Purchase Contract Agent shall not be responsible for any failure of the
Company to transfer or deliver any shares of Common Stock or other Reference Property pursuant to a
Purchase Contract or to comply with any of the duties, responsibilities or covenants of the Company
contained in this Article 5. All calculations and determinations pursuant to this Article 5 shall
be made by the Company or its agent and under no circumstances shall the Purchase Contract Agent
have any responsibility with respect thereto.

          (g) Each adjustment to each Fixed Settlement Rate shall result in a corresponding
adjustment to the Early Settlement Rate. Each adjustment to each Fixed Settlement Rate will also
result in a corresponding adjustment to the Applicable Market Value solely to determine which of
the three clauses in the definition of Settlement Rate will be applicable on the Mandatory
Settlement Date. In addition, if any adjustment to the Settlement Rate becomes effective, or any
Ex-Date or Record Date for any issuance, dividend or distribution (relating to a required Fixed
Settlement Rate adjustment) occurs, during the period beginning on, and including, (i) the open of
business on the first Trading Day of the 20 Trading Day period during which the Applicable Market
Value is calculated or (ii) in the case of an Early Settlement or an Early Settlement upon a
Fundamental Change, the relevant Early Settlement Date or Fundamental Change Early Settlement Date
and, in each case, ending on, and including, the date on which the Company delivers shares of its
Common Stock under the related Purchase Contract, the Company will make appropriate adjustments to
the Fixed Settlement Rates, the Applicable Market Value and/or the number of shares of its Common
Stock deliverable upon settlement of the Purchase Contract, in each case, consistent with, and in
order to give effect to the intent of, the provisions of this Section 5.01.

          (h) In connection with any Business Combination, the Dividend Threshold Amount shall be
subject to adjustment as described in Section 5.02(b).

          (i) The Board of Directors shall have the power to resolve any ambiguity or, subject to
applicable law, correct any error in this Article 5, and its action in so doing shall be final and
conclusive.

          (j) For purposes of Section 5.01 and Section 5.02, the number of shares of Common Stock at
any time outstanding shall not include shares held in the treasury of the Company so long as the
Company does not pay any dividend or make any distribution on shares of Common Stock held in the
treasury of the Company.

     Section 5.02. Business Combinations.

          (a) In the event of any consolidation, merger, sale or transfer of assets, share exchange
or other reorganization event, in each case, pursuant to which the Common Stock is converted into
the right to receive other securities, cash or property (each, a “Business Combination”),
then, at and

35

 

after the effective time of the Business Combination, (i) each Purchase Contract then
outstanding shall become a Purchase Contract to purchase the kind and amount of securities, cash or
property receivable upon any such Business Combination by the holder of one share of Common Stock,
multiplied by the applicable Settlement Rate (the “Reference Property” with each
“Unit of Reference Property” meaning the kind and amount of Reference Property that a
holder of one share of Common Stock is entitled to receive in the Business Combination) and
(ii) the Applicable Market Value of the Common Stock shall be calculated based on the value of a
Unit of Reference Property that a holder of one share of Common Stock would have received in such
transaction, as follows (x) with respect to any publicly traded securities that comprise all or
part of the Reference Property, based on the Daily VWAP of such securities which shall be
calculated based on the value of one Unit of Reference Property, (y) in the case of any cash that
comprises all or part of the Reference Property, based on the amount of such cash and (z) in the
case of any other property that comprises all or part of the Reference Property, based on the value
of such property, as determined by a nationally recognized independent investment banking firm
retained by the Company for this purpose. In the event holders of the Common Stock have the
opportunity to elect the form of consideration to be received in such Business Combination, the
Reference Property shall be deemed to be the weighted average of the types and amounts of
consideration received by the holders of the Common Stock that affirmatively make an election. In
the event of a Business Combination where the Company is not the successor Person, such Person
formed by such Business Combination shall execute and deliver to the Purchase Contract Agent an
agreement supplemental hereto providing that each Holder of an Outstanding Purchase Contract
(whether or not included in a Unit) shall have the rights provided by this Section 5.02. Such
supplemental agreement shall provide for adjustments which, for events subsequent to the effective
date of such Business Combination, shall be as nearly equivalent as may be practicable to the
adjustments provided for in Section 5.01 (with respect to any Reference Property consisting of
publicly traded common equity securities) and this Section 5.02. The above provisions of this
Section 5.02 shall similarly apply to successive Business Combinations. The Company shall notify
Holders of the composition of the Reference Property as soon as practicable after such
determination is made. The Company shall not become a party to any Business Combination unless its
terms are consistent with this Section 5.02.

          (b) In connection with any Business Combination, the Dividend Threshold Amount shall be
subject to adjustment as described in clause (i), clause (ii) or clause (iii) below, as the case
may be.

          (i) In the case of a Business Combination in which the Reference Property (determined, as
appropriate, pursuant to Section 5.02 and excluding cash payments made for fractional shares and
cash payments made in respect of any dissenters’ appraisal rights) is composed entirely of shares
of common stock (the “Merger Common Stock”), the Dividend Threshold Amount at and after the
effective time of such Business Combination will be equal to (x) the Dividend Threshold Amount
immediately prior to the effective time of such Business Combination, divided by (y) the
number of shares of Merger Common Stock that a holder of one share of Common Stock would receive in
such Business Combination (such quotient rounded down to nearest cent).

          (ii) In the case of a Business Combination in which the Reference Property (determined, as
appropriate, pursuant to Section 5.02 and excluding cash payments made for fractional shares and
cash payments made in respect of any dissenters’ appraisal rights) is composed in part of shares of
Merger Common Stock, the Dividend Threshold Amount at and after the effective time of such Business
Combination will be equal to (x) the Dividend Threshold Amount immediately prior to the effective
time of such Business Combination, multiplied by (y) the Merger Valuation Percentage for
such Business Combination (such product rounded down to nearest cent).

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          (iii) For the avoidance of doubt, in the case of a Business Combination in which the
Reference Property (determined, as appropriate, pursuant to subsection (a) above and excluding cash
payments made for fractional shares and cash payments made in respect of any dissenters’ appraisal
rights) is composed entirely of consideration other than shares of common stock, the Dividend
Threshold Amount at and after the effective time of such Business Combination will be equal to
zero.

     Section 5.03. Early Settlement Upon a Fundamental Change.

          (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts
early in connection with such Fundamental Change, such Holder shall receive a number of shares of
Common Stock (or cash, securities or other property) based on the Fundamental Change Early
Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement
shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder
delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the
requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning
on, and including, the Effective Date of the Fundamental Change and ending on, and including, the
30th Business Day thereafter (or, if earlier, the third Business Day immediately preceding the
Mandatory Settlement Date) (“the Fundamental Change Early Settlement Date”).

          (b) The Company shall provide the Purchase Contract Agent and the Holders of Units and
Separate Purchase Contracts with a notice of a Fundamental Change within five Business Days after
its occurrence, issue a press release announcing the Effective Date and post such press release on
its website. The notice shall set forth (i) the applicable Fundamental Change Early Settlement
Rate, (ii) the kind and amount of the cash, securities and other consideration receivable by the
Holder upon settlement and (iii) the deadline by which each Holder’s Fundamental Change Early
Settlement Right must be exercised. In addition to the foregoing, the notice may set forth such
additional information as the Company shall deem appropriate.

          (c) The “Fundamental Change Early Settlement Rate” shall be determined by the
Company by reference to the table below, based on the date on which the Fundamental Change occurs
or becomes effective (the “Effective Date”) and the stock price (the “Stock Price”)
in the Fundamental Change, which shall be:

          (i) in the case of a Fundamental Change described in clause (ii) of the definition thereof
in which holders of shares of Common Stock receive only cash in the Fundamental Change, the cash
amount paid per share of Common Stock; and

          (ii) in all other cases, the average of the Daily VWAPs of the Common Stock on each of the
10 consecutive Trading Days ending on and including the Trading Day immediately preceding the
Effective Date.

          (d) The Stock Prices set forth in the first column of the table below shall be adjusted as
of any date on which any Fixed Settlement Rate is otherwise adjusted. The adjusted Stock Prices
shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by
a fraction, the numerator of which is the Minimum Settlement Rate immediately prior to the
adjustment giving rise to the Stock Price adjustment and the denominator of which is the Minimum
Settlement Rate as so adjusted. The number of shares in the table below shall be adjusted in the
same manner as the Fixed Settlement Rates as set forth in Section 5.01.

          (e) The following table sets forth the Fundamental Change Early Settlement Rate per
Purchase Contract for each Stock Price and Effective Date set forth below:

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	 	 	 	 	Effective Date
	 	 	 	 	December 10,	 	December 15,	 	December 15,	 	December 15,
	Stock Price	 	2010	 	2011	 	2012	 	2013
	$	10.00	 	 	 	1.5036	 	 	 	1.5719	 	 	 	1.6282	 	 	 	1.6666	 
	$	12.50	 	 	 	1.4843	 	 	 	1.5580	 	 	 	1.6270	 	 	 	1.6666	 
	$	15.00	 	 	 	1.4586	 	 	 	1.5342	 	 	 	1.6158	 	 	 	1.6666	 
	$	17.50	 	 	 	1.4320	 	 	 	1.5056	 	 	 	1.5952	 	 	 	1.6666	 
	$	20.00	 	 	 	1.4073	 	 	 	1.4761	 	 	 	1.5671	 	 	 	1.6666	 
	$	22.50	 	 	 	1.3854	 	 	 	1.4480	 	 	 	1.5346	 	 	 	1.6666	 
	$	25.00	 	 	 	1.3669	 	 	 	1.4227	 	 	 	1.5009	 	 	 	1.6666	 
	$	27.50	 	 	 	1.3515	 	 	 	1.4007	 	 	 	1.4686	 	 	 	1.6666	 
	$	30.00	 	 	 	1.3390	 	 	 	1.3820	 	 	 	1.4394	 	 	 	1.6666	 
	$	32.50	 	 	 	1.3289	 	 	 	1.3666	 	 	 	1.4141	 	 	 	1.5384	 
	$	35.00	 	 	 	1.3209	 	 	 	1.3541	 	 	 	1.3931	 	 	 	1.4285	 
	$	37.50	 	 	 	1.3148	 	 	 	1.3441	 	 	 	1.3761	 	 	 	1.3333	 
	$	40.00	 	 	 	1.3100	 	 	 	1.3362	 	 	 	1.3627	 	 	 	1.3333	 
	$	42.50	 	 	 	1.3064	 	 	 	1.3300	 	 	 	1.3523	 	 	 	1.3333	 
	$	45.00	 	 	 	1.3038	 	 	 	1.3253	 	 	 	1.3445	 	 	 	1.3333	 
	$	47.50	 	 	 	1.3020	 	 	 	1.3217	 	 	 	1.3387	 	 	 	1.3333	 
	$	50.00	 	 	 	1.3007	 	 	 	1.3191	 	 	 	1.3345	 	 	 	1.3333	 

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

          (i) if the Stock Price is between two Stock Prices in the table or the Effective Date is
between two Effective Dates in the table, the Fundamental Change Early Settlement Rate shall be
determined by a straight-line interpolation between the number of shares set forth for the higher
and lower Stock Prices and the earlier and later Effective Dates, as applicable, based on a 365-day
year;

          (ii) if the Stock Price is greater than $50.00 per share, subject to adjustment in the
same manner as the Stock Prices set forth in the table above, the Fundamental Change Early
Settlement Rate shall be the Minimum Settlement Rate; or

          (iii) if the Stock Price is less than $10.00 per share (subject to adjustment in the same
manner as the Stock Prices set forth in the table above, the “Minimum Stock Price”) the
Fundamental Change Early Settlement Rate shall be determined as if the Stock Price equaled the
Minimum Stock Price, using straight line interpolation, as described in clause (i) of this
Section 5.03(e), if the Effective Date is between two dates in the table.

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The maximum number of shares of Common Stock deliverable under a Purchase Contract is 1.6666,
subject to adjustment in the same manner as the Fixed Settlement Rates as set forth under Section
5.01.

          (f) If a Holder exercises its Fundamental Change Early Settlement Right following the
Effective Date of a Fundamental Change described in clause (ii) of the definition thereof, the
Company shall deliver to such Holder, for each Purchase Contract being settled early, the kind and
amount of securities, cash or other property that such Holder would have been entitled to receive
in such Fundamental Change as a holder of a number of shares of the Common Stock equal to the
Fundamental Change Settlement Rate. If such Fundamental Change causes the Common Stock to be
converted into the right to receive more than a single type of consideration (determined based in
part upon any form of shareholder election) and the Holder exercises the Fundamental Change Early
Settlement Right, the Company shall deliver to such Holder the types and amounts of consideration
as are proportional to the types and amounts of consideration received by the holders of the Common
Stock that affirmatively make such an election. The Company shall deliver the shares of Common
Stock, securities, cash or other property payable as a result of such Holder’s exercise of the
Fundamental Change Early Settlement Right on the third Business Day following the Fundamental
Change Early Settlement Date.

          (g) If a Holder does not elect to exercise the Fundamental Change Early Settlement Right,
such Holder’s Purchase Contracts shall remain outstanding and shall be subject to normal settlement
on any subsequent Early Settlement Date or any subsequent Fundamental Change Early Settlement Date
or the Mandatory Settlement Date, including, if applicable, the provisions set forth in
Section 5.02 regarding the occurrence of a Business Combination.

          (h) If a Holder exercises the Fundamental Change Early Settlement Right, each of the
Holder, the Company and the Purchase Contract Agent shall be required to comply with their
respective obligations under the provisions of Section 5.04(b)(i) through (iii), (d), (e) and (f)
as if an Early Settlement had occurred.

     Section 5.04. Early Settlement.

          (a) Subject to and upon compliance with the provisions of this Section 5.04, on any
Trading Day prior to the close of business on the third Business Day immediately preceding the
Mandatory Settlement Date, a Holder may elect to settle its Purchase Contracts early (“Early
Settlement”), in whole or in part, and receive shares of Common Stock, at the Early Settlement
Rate, subject to adjustment as described in Section 5.01.

          (b) A Holder’s right to receive Common Stock upon Early Settlement of any of its Purchase
Contracts is subject to the following conditions:

          (i) delivery of a written and signed notice of election (an “Early Settlement
Notice”) to the Purchase Contract Agent electing Early Settlement of such Purchase Contract;

          (ii) surrendering the relevant Definitive Security, if such Purchase Contract or the Unit
that includes such Purchase Contract is in the form of a Definitive Security, to the Purchase
Contract Agent at the Corporate Trust Office duly endorsed for transfer to the Company or in blank
with the form of Election to Settle Early on the reverse thereof duly completed, or if such
Purchase Contract is represented by a Global Security, compliance with the applicable procedures of
the Depositary; and

          (iii) payment by such Holder of any transfer or similar taxes payable in connection with
the issuance of Common Stock to any Person other than such Holder pursuant to subsection (d) below.

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If a Holder complies with the requirements set forth in clauses (i) through (iii) above earlier
than the close of business on any Business Day, then that Business Day shall be considered the
“Early Settlement Date.” If a Holder complies with the requirements set forth in clauses
(i) through (iii) above after the close of business on any Business Day or at any time on a day
that is not a Business Day, then the next Business Day shall be considered the “Early
Settlement Date.”

          (c) Upon surrender or book-entry transfer of such Purchase Contracts or the related Units,
the Company shall cause a number of shares of Common Stock, calculated at the Early Settlement
Rate, to be issued and delivered, together with payment in lieu of any fraction of a share as
provided in Section 4.04, as promptly as practicable, but no later than the third Business Day
following the Early Settlement Date.

          (d) Any shares referred to in Section 5.04(c) above shall be registered in the name of the
Holder or the Holder’s designee, and shall be delivered, as specified on the applicable form of
Election to Settle Early provided by the Holder to the Purchase Contract Agent. If any shares of
Common Stock deliverable in respect of a Purchase Contract are to be registered to a Person other
than the Person in whose name the Security evidencing such Purchase Contract is registered, no such
registration shall be made unless the Person requesting such registration has paid any transfer and
other taxes required by reason of such registration in a name other than that of the registered
Holder of the Certificate evidencing such Purchase Contract or has established to the satisfaction
of the Company that such tax either has been paid or is not payable.

          (e) In the event that Early Settlement is effected with respect to Purchase Contracts that
are a component of Units, upon such Early Settlement the Company shall execute and the Trustee
shall execute on behalf of the Holder, authenticate and deliver to the Holder thereof, at the
expense of the Company, a Security, in the same form as the Units submitted to effect such Early
Settlement, evidencing a number of Separate Notes equal to the number of Purchase Contracts as to
which Early Settlement was effected.

          (f) In the event that Early Settlement is effected with respect to Purchase Contracts
represented by fewer than all the Purchase Contracts evidenced by a Security, upon such Early
Settlement the Company shall execute and the Purchase Contract Agent shall execute on behalf of the
Holder, authenticate and deliver to the Holder thereof, at the expense of the Company, a Security
evidencing the Purchase Contracts as to which Early Settlement was not effected.

ARTICLE VI

REMEDIES

     Section 6.01. Unconditional Right of Holders to Receive Shares of Common Stock. Each
Holder of a Purchase Contract (whether or not included in a Unit) shall have the right, which is
absolute and unconditional, to receive the shares of Common Stock pursuant to such Purchase
Contract and to institute suit for the enforcement of any such right to receive the shares of
Common Stock, and such right shall not be impaired without the consent of such Holder.

     Section 6.02. Notice to Purchase Contract Agent; Limitation on Proceedings. Holders
of not less than 25% of outstanding Equity-Linked Securities, by notice given to the Purchase
Contract Agent, may request that Purchase Contract Agent to institute proceedings with respect to a
default relating to any covenant hereunder. No Holder of Equity-Linked Securities may institute any
proceedings, judicial or otherwise, with respect to this Agreement or for any remedy hereunder,
except in the case of failure of the Purchase Contract Agent, for 60 days, to act after the
Purchase Contract Agent has received a written request to institute proceedings in respect of a
default with respect to any covenant hereunder from the

40

 

Holders of not less than 25% of the
Outstanding Purchase Contracts, as well as an offer of reasonable security or indemnity as the
Purchase Contract Agent may require against the costs, expenses and liabilities that may be
incurred in compliance with such request or direction. This provision will not prevent any Holder
of Purchase Contracts from instituting suit for the delivery of Common Stock deliverable upon
settlement of the Purchase Contracts on the Mandatory Settlement Date or any Early Settlement Date
or Fundamental Change Settlement Date.

     Section 6.03. Restoration of Rights and Remedies. If any Holder has instituted any
proceeding to enforce any right or remedy under this Agreement and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to such Holder, then and
in every such case, subject to any determination in such proceeding, the Company and such Holder
shall be restored severally and respectively to their former positions hereunder and thereafter all
rights and remedies of such Holder shall continue as though no such proceeding had been instituted.

     Section 6.04. Rights and Remedies Cumulative. Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the
last paragraph of Section 3.10, no right or remedy herein conferred upon or reserved to the Holders
is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

     Section 6.05. Delay or Omission Not Waiver. No delay or omission of any Holder to
exercise any right or remedy upon a default hereunder shall impair any such right or remedy or
constitute a waiver of any such right. Every right and remedy given by this Article or by law to
the Holders may be exercised from time to time, and as often as may be deemed expedient, by such
Holders.

     Section 6.06. Undertaking for Costs. All parties to this Agreement agree, and each
Holder of a Purchase Contract, by its acceptance of such Purchase Contract 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 Agreement, or in any suit against the Purchase Contract Agent for any action
taken, suffered or omitted by it as Purchase Contract Agent, 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 costs 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 shall
not apply to any suit instituted by (a) the Purchase Contract Agent, (b) any Holder, or group of
Holders, holding in the aggregate more than 10% of the Outstanding Purchase Contracts, or (c) any
Holder for the enforcement of the right to receive shares of Common Stock or other Reference
Property under the Purchase Contracts held by such Holder.

     Section 6.07. Waiver of Stay or Execution Laws. The Company covenants (to the extent
that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or assume or take the benefit or advantage of, any stay or extension law wherever
enacted, now or at any time hereafter in force, that may affect the covenants or the performance of
this Agreement; and the Company (to the extent that it may lawfully do so) hereby expressly waives
all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the
execution of any power herein granted to the Purchase Contract Agent or the Holders, but will
suffer and permit the execution of every such power as though no such law had been enacted.

41

 

     Section 6.08. Control by Majority. The Holders of not less than a majority of the
Outstanding Purchase Contracts shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Purchase Contract Agent, or of exercising
any trust or power conferred upon the Purchase Contract Agent; provided that the Purchase
Contract Agent has received reasonable security or indemnity as it may require against costs,
expenses and liabilities that may be incurred in connection with such request or direction.
Notwithstanding the foregoing, the Purchase Contract Agent may refuse to follow any direction that
is in conflict with any law, rule, regulation or order or the Purchase Contract Agreement, that may
involve it in personal liability or that may be unduly prejudicial to the Holders of Purchase
Contracts not joining in the action.

ARTICLE VII

THE PURCHASE CONTRACT AGENT

     Section 7.01. Certain Duties and Responsibilities.

          (a) The Purchase Contract Agent:

          (i) undertakes to perform, with respect to the Purchase Contracts, such duties and only
such duties as are specifically delegated to it and set forth in this Agreement, and no implied
covenants or obligations shall be read into this Agreement against the Purchase Contract Agent; and

          (ii) in the absence of bad faith on its own part, may, with respect to the Purchase
Contracts and Equity-Linked Securities, conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or opinions furnished to the
Purchase Contract Agent and conforming to the requirements of this Agreement but in the case of any
such certificates or opinions that by any provision hereof are specifically required to be
furnished to the Purchase Contract Agent, the Purchase Contract Agent shall be under a duty to
examine the same to determine whether or not they conform in so far as matters of form but not
substance are concerned to the requirements of this Agreement (but need not confirm or investigate
the accuracy or completeness of the mathematical calculations or other facts, statements, opinions
or conclusions stated or contained therein and may assume the genuineness of all signatures).

          (b) No provision of this Agreement shall be construed to relieve the Purchase Contract
Agent from liability for its own grossly negligent action, its own grossly negligent failure to
act, its own willful misconduct or its own bad faith, except that:

          (i) this subsection (b) shall not be construed to limit the effect of subsections (a) and
(c) of this Section;

          (ii) the Purchase Contract Agent shall not be liable for any error of judgment made in
good faith by a Responsible Officer or any other Person, unless it shall be proved that a
Responsible Officer of the Purchase Contract Agent was grossly negligent in ascertaining the
pertinent facts;

          (iii) the Purchase Contract Agent shall not be liable with respect to any action taken or
omitted to be taken by it in good faith in accordance with the direction of the Holders of a
majority in number of the Outstanding Purchase Contracts, determined as provided herein, relating
to the time, method and place of conducting any proceeding for any remedy available to the Purchase
Contract Agent, or exercising any trust or power conferred upon the Purchase Contract Agent, under
this Agreement with respect to the Outstanding Purchase Contracts.

42

 

          (c) No provision of this Agreement shall require the Purchase Contract Agent to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate security or indemnity against such
risk or liability satisfactory to the Purchase Contract Agent is not provided to it.

          (d) Whether or not herein or therein expressly so provided, every provision of this
Agreement relating to the conduct or affecting the liability of or affording protection to the
Purchase Contract Agent shall be subject to the provisions of this Section 7.01.

     Section 7.02. Notice of Default. Within 90 days after a Responsible Officer of the
Purchase Contract Agent has actual knowledge of the occurrence of any default by the Company
hereunder, the Purchase Contract Agent shall transmit by mail to the Company and the Holders of
Equity-Linked Securities, as their names and addresses appear in the Security Register, notice of
such default hereunder, unless such Responsible Officer of the Purchase Contract Agent has actual
knowledge that such default shall have been cured or waived.

     Section 7.03. Certain Rights of Purchase Contract Agent. Subject to the provisions
of Section 7.01:

          (a) the Purchase Contract Agent may conclusively rely and shall be fully protected in
acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties;

          (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by an Officers’ Certificate, Issuer Order or Issuer Request, and any resolution of the
Board of Directors of the Company may be sufficiently evidenced by a Board Resolution;

          (c) whenever in the administration of this Agreement the Purchase Contract Agent shall
deem it desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Purchase Contract Agent (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’
Certificate of the Company;

          (d) the Purchase Contract Agent may consult with counsel of its selection and the advice
of such counsel or any Opinion of Counsel shall be full and complete authorization and protection
in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon;

          (e) the Purchase Contract Agent shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Purchase Contract Agent, in its discretion may make such
reasonable further inquiry or investigation into such facts or matters related to the execution,
delivery and performance of the Purchase Contracts as it may see fit, and, if the Purchase Contract
Agent shall determine to make such further inquiry or investigation, it shall be given a reasonable
opportunity, during the Company’s normal business hours, to examine the relevant books, records and
premises of the Company, personally or by agent or attorney, and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation;

43

 

          (f) the Purchase Contract Agent may execute any of the powers hereunder or perform any
duties hereunder either directly or by or through agents, attorneys, or Affiliates and the Purchase
Contract Agent shall not be responsible for any misconduct or negligence on the part of any agent,
attorney or Affiliate appointed with due care by it hereunder;

          (g) the Purchase Contract Agent shall be under no obligation to exercise any of the rights
or powers vested in it by this Agreement at the request or direction of any of the Holders pursuant
to this Agreement, unless such Holders shall have provided to the Purchase Contract Agent security
or indemnity satisfactory to the Purchase Contract Agent against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction;

          (h) the Purchase Contract Agent 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 Agreement;

          (i) the Purchase Contract Agent shall not be deemed to have notice or be charged with
knowledge of any adjustment to the Settlement Rate, the occurrence of any Termination Event or any
default hereunder unless a Responsible Officer of the Purchase Contract Agent has actual knowledge
thereof or unless written notice of such adjustment to the Settlement Rate, occurrence of any
Termination Event or default is received by a Responsible Officer of the Purchase Contract Agent at
the Corporate Trust Office of the Purchase Contract Agent, and such notice references the Purchase
Contracts and this Agreement;

          (j) the Purchase Contract Agent 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 Agreement, 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;

          (k) the rights, privileges, protections, immunities and benefits given to the Purchase
Contract Agent, including, without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Purchase Contract Agent in each of its capacities hereunder (including
as Trustee, whether or not the Trustee is expressly referenced in connection with any such rights,
privileges, protections, immunities and benefits), and to each agent, custodian and other Person
employed in any capacity whatsoever to act hereunder and shall survive the resignation or removal
of the Purchase Contract Agent and the termination of this Agreement;

          (l) in no event shall either of the Purchase Contract Agent or the Trustee be responsible
or liable for special, punitive, indirect, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit) irrespective of whether the Purchase Contact Agent
or the Trustee has been advised of the likelihood of such loss or damage and regardless of the form
of action; and

          (m) the Purchase Contract Agent shall not be required to initiate or conduct any
litigation or collection proceedings hereunder and shall have no responsibilities with respect to
any default hereunder except as expressly set forth herein.

     Section 7.04. Not Responsible for Recitals. The recitals contained herein and in the
Certificates shall be taken as the statements of the Company, and the Purchase Contract Agent
assumes no

44

 

responsibility for their accuracy or validity. The Purchase Contract Agent makes no
representations as to the validity or sufficiency of either this Agreement or of the Purchase
Contracts. The Purchase Contract Agent shall not be accountable for the use or application by the
Company of the proceeds in respect of the Purchase Contracts.

     Section 7.05. May Hold Units and Purchase Contracts. Any Security Registrar or any
other agent of the Company, or the Purchase Contract Agent or the Trustee and their respective
Affiliates, in their individual or any other capacity, may become the owner of Units, Separate
Purchase Contracts and Separate Notes and may otherwise deal with the Company or any other Person
with the same rights it would have if it were not Security Registrar or such other agent, or the
Purchase Contract Agent. The Company may become the owner of Units, Separate Purchase Contracts and
Separate Notes.

     Section 7.06. Money Held in Custody. Money held by the Purchase Contract Agent in
custody hereunder need not be segregated from other funds except to the extent required by law or
provided herein. The Purchase Contract Agent shall be under no obligation to invest or pay interest
on any money received by it hereunder.

     Section 7.07. Compensation, Reimbursement and Indemnification. The Company agrees:

          (a) to pay to the Purchase Contract Agent, from time to time, compensation for all
services rendered by it hereunder as the Company and the Purchase Contract Agent shall from time to
time agree in writing (which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

          (b) except as otherwise expressly provided for herein, to reimburse the Purchase Contract
Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by
the Purchase Contract Agent in accordance with any provision of this Agreement (including the
reasonable compensation and the expenses and disbursements of its agents and counsel), except any
such expense, disbursement or advance as may be determined to have been caused by the Purchase
Contract Agent’s own gross negligence, willful misconduct or bad faith; and

          (c) to indemnify the Purchase Contract Agent and any predecessor Purchase Contract Agent,
the Trustee and their respective directors, officers, employees, agents and representatives for,
and to hold them harmless against, any loss, liability or expense (including, without limitation,
damages, fines, penalties, suits, actions, demands, costs, and legal fees and expenses) incurred
without gross negligence, willful misconduct or bad faith on their part, and further including
taxes (other than taxes based upon, measured by or determined by the income of the Purchase
Contract Agent or the Trustee) related to, arising out of or in connection with the acceptance or
administration of the Purchase Contract Agent’s or the Trustee’s duties hereunder or any
modification, supplement or waiver of any of the terms hereof, including the costs and expenses of
defending itself against any claim (whether asserted by the Company, a Holder or any other person)
or liability in connection with the exercise or performance of any of its powers or duties
hereunder, or in connection with enforcing the provisions of this Section 7.07.

     The provisions of this Section shall survive the resignation and removal of the Purchase
Contract Agent, the satisfaction and discharge of the Equity-Linked Securities and the termination
for any reason of this Agreement.

     As security for the performance of the obligations of the Company under this Section the
Purchase Contract Agent shall have a lien prior to the Securities upon all property and funds held
or

45

 

collected by the Purchase Contract Agent as such, except funds held in trust for the payment of
principal of (and premium, if any) or interest on particular Securities.

     Section 7.08. Corporate Purchase Contract Agent Required; Eligibility. There shall
at all times be a Purchase Contract Agent hereunder which shall be a corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to exercise corporate trust powers, having (or being a member
of a bank holding company having) a combined capital and surplus of at least $50,000,000, subject
to supervision or examination by Federal or State authority and having a corporate trust office in
the Borough of Manhattan, New York City, if there be such a corporation in the Borough of
Manhattan, New York City, qualified and eligible under this Article and willing to act on
reasonable terms. If such corporation publishes reports of condition at least annually, pursuant to
law or to the requirements of said supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If
at any time the Purchase Contract Agent shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     Section 7.09. Resignation and Removal; Appointment of Successor.

          (a) No resignation or removal of the Purchase Contract Agent and no appointment of a
successor Purchase Contract Agent pursuant to this Article shall become effective until the
acceptance of appointment by the successor Purchase Contract Agent in accordance with the
applicable requirements of Section 7.10 and, unless waived by the Purchase Contract Agent, the
payment in full of all amounts due and owing to such Purchase Contract Agent hereunder.

          (b) The Purchase Contract Agent may resign at any time by giving written notice thereof to
the Company at least 60 days prior to the effective date of such resignation. If the instrument of
acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have been
delivered to the Purchase Contract Agent within 30 days after the giving of such notice of
resignation, the resigning Purchase Contract Agent may petition, at the expense of the Company, any
court of competent jurisdiction for the appointment of a successor Purchase Contract Agent.

          (c) The Purchase Contract Agent may be removed at any time by Act of the Holders of a
majority in number of the Outstanding Purchase Contracts delivered to the Purchase Contract Agent
and the Company. If the instrument of acceptance by a successor Purchase Contract Agent required by
Section 7.10 shall not have been delivered to the Purchase Contract Agent within 30 days after the
delivery of such Act, the removed Purchase Contract Agent may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract
Agent.

          (d) If at any time:

          (i) the Purchase Contract Agent shall cease to be eligible under Section 7.08 and shall
fail to resign after written request therefor by the Company or by any such Holder; or

          (ii) the Purchase Contract Agent shall be adjudged bankrupt or insolvent or a receiver of
the Purchase Contract Agent or of its property shall be appointed or any public officer shall take
charge or control of the Purchase Contract Agent or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation,

46

 

then, in any such case, (x) the Company by a Board Resolution may remove the Purchase Contract
Agent, or (y) any Holder who has been a bona fide Holder of a Purchase Contract for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Purchase Contract Agent and the appointment of a successor
Purchase Contract Agent.

          (e) If the Purchase Contract Agent shall resign, be removed or become incapable of acting,
or if a vacancy shall occur in the office of the Purchase Contract Agent for any cause, the
Company, by a Board Resolution, shall promptly appoint a successor Purchase Contract Agent and
shall comply with the applicable requirements of Section 7.10. If no successor Purchase Contract
Agent shall have been so appointed by the Company and accepted appointment in the manner required
by Section 7.10, any Holder who has been a bona fide Holder of a Purchase Contract for at least six
months, on behalf of itself and all others similarly situated, or the Purchase Contract Agent may
petition, at the expense of the Company, any court of competent jurisdiction for the appointment of
a successor Purchase Contract Agent.

          (f) The Company shall give, or shall cause such successor Purchase Contract Agent to give,
notice of each resignation and each removal of the Purchase Contract Agent and each appointment of
a successor Purchase Contract Agent by mailing written notice of such event by first-class mail,
postage prepaid, to Holders as their names and addresses appear in the applicable Register. Each
notice shall include the name of the successor Purchase Contract Agent and the address of its
Corporate Trust Office.

          (g) At any time there shall be only one Purchase Contract Agent with respect to the
Securities.

     Section 7.10. Acceptance of Appointment by Successor.

          (a) In case of the appointment hereunder of a successor Purchase Contract Agent, every
such successor Purchase Contract Agent so appointed shall execute, acknowledge and deliver to the
Company and to the retiring Purchase Contract Agent an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Purchase Contract Agent shall become effective
and such successor Purchase Contract Agent, without any further act, deed or conveyance, shall
become vested with all the rights, powers, agencies and duties of the retiring Purchase Contract
Agent; but, at the request of the Company or the successor Purchase Contract Agent, such retiring
Purchase Contract Agent shall, upon its receipt of payment of its charges and all other amounts
payable to it hereunder, execute, acknowledge and deliver an instrument transferring to such
successor Purchase Contract Agent all the rights, powers and trusts of the retiring Purchase
Contract Agent (other than rights to indemnification, compensation and reimbursement of expenses)
and shall duly assign, transfer and deliver to such successor Purchase Contract Agent all property
and money held by such retiring Purchase Contract Agent hereunder (other than those relating to
unassigned rights).

          (b) Upon request of any such successor Purchase Contract Agent, the Company shall execute
any and all instruments for more fully and certainly vesting in and confirming to such successor
Purchase Contract Agent all such rights, powers and agencies referred to in paragraph Section
7.10(a) of this Section.

          (c) No successor Purchase Contract Agent shall accept its appointment unless at the time
of such acceptance such successor Purchase Contract Agent shall be qualified and eligible under
this Article.

47

 

          (d) Upon acceptance of appointment by a successor Purchase Contract Agent as provided in
this Section, the Company shall transmit notice of the succession of such Purchase Contract Agent
hereunder by mail, first class postage prepaid, to the Holders, as their names and addresses appear
upon the Security Register. If the Company fails to transmit such notice within ten days after
acceptance of appointment by the successor Purchase Contract Agent, the successor Purchase Contract
Agent shall cause such notice to be transmitted at the expense of the Company.

     Section 7.11. Merger; Conversion; Consolidation or Succession to Business. Any
Person into which the Purchase Contract Agent may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Purchase Contract Agent shall be a party, or any corporation succeeding to all or substantially all
the corporate trust business of the Purchase Contract Agent, shall be the successor of the Purchase
Contract Agent hereunder, without the execution or filing of any paper or any further act on the
part of any of the parties hereto; provided that such Person shall be otherwise qualified
and eligible under this Article. If any Securities shall have been authenticated and executed on
behalf of the Holders, but not delivered, by the Purchase Contract Agent then in office, any
successor by merger, conversion or consolidation to such Purchase Contract Agent may adopt such
authentication and execution and deliver the Securities so authenticated and executed with the same
effect as if such successor Purchase Contract Agent had itself authenticated and executed such
Purchase Contracts.

     Section 7.12. Preservation of Information; Communications to Holders.

          (a) The Purchase Contract Agent shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders as received by the Purchase Contract Agent in its
capacity as Security Registrar.

          (b) If three or more Holders (such three or more Holders, the “applicants”) apply
in writing to the Purchase Contract Agent, and furnish to the Purchase Contract Agent reasonable
proof that each such applicant has owned a Unit or Separate Purchase Contract for a period of at
least six months preceding the date of such application, and such application states that the
applicants desire to communicate with other Holders with respect to their rights under this
Agreement or under the Units or Separate Purchase Contracts and is accompanied by a copy of the
form of proxy or other communication that such applicants propose to transmit, then the Purchase
Contract Agent shall mail to all the Holders copies of the form of proxy or other communication
that is specified in such request, with reasonable promptness after a tender to the Purchase
Contract Agent of the materials to be mailed and of payment, or provision for the payment
acceptable to the Purchase Contract Agent, of the reasonable expenses of such mailing.

     Section 7.13. No Obligations of Purchase Contract Agent or Trustee. Except to the
extent otherwise expressly provided in this Agreement, the Purchase Contract Agent and the Trustee
assume no obligations and shall not be subject to any liability under this Agreement or Security
evidencing a Unit or Purchase Contract in respect of the obligations of the Holder of any Unit or
Purchase Contract thereunder. The Company agrees, and each Holder of a Note, by his or her
acceptance thereof, shall be deemed to have agreed, that the Purchase Contract Agent’s execution of
the Securities on behalf of the Holders shall be solely as agent and attorney-in-fact for the
Holders, and that the Purchase Contract Agent shall have no obligation to perform such Purchase
Contracts (whether held as components of Units or Separate Purchase Contracts) on behalf of the
Holders, except to the extent expressly provided in Article 3 hereof. Anything contained in this
Agreement to the contrary notwithstanding, in no event shall the Purchase Contract Agent or the
Trustee or their respective officers, directors, employees or agents be liable under this Agreement
to any third party for indirect, special, punitive, or consequential loss or damage of any kind
whatsoever, including lost profits.

48

 

     Section 7.14. Tax Compliance.

          (a) The Company and the Purchase Contract Agent shall comply with all applicable
certification, information reporting and withholding (including “backup” withholding) requirements
imposed by applicable tax laws, regulations or administrative practice with respect to (i) any
payments made with respect to the Purchase Contracts or (ii) the issuance, delivery, holding,
transfer, redemption or exercise of rights under the Purchase Contracts. Such compliance shall
include, without limitation, the preparation and timely filing at the expense of the Company of
required returns and the timely payment of all amounts required to be withheld to the appropriate
taxing authority or its designated agent. The Company shall deliver to the Purchase Contract Agent
an Officers’ Certificate similar to that required to be provided under Section 4.06 of the
Indenture setting forth all necessary information to enable the Purchase Contract Agent to comply
with the provisions of this Section 7.14.

          (b) The Purchase Contract Agent shall comply in accordance with the terms hereof with any
written direction received from the Company with respect to the execution or certification of any
required documentation and the application of such requirements to particular payments or Holders
or in other particular circumstances, and may for purposes of this Agreement conclusively rely on
any such direction in accordance with the provisions of Section 7.01(a)(ii) hereof.

          (c) The Purchase Contract Agent shall maintain, and the Company shall cooperate in the
maintenance of all appropriate records documenting compliance with such requirements, and shall
make such records available, on written request, to the Company or its authorized representative
within a reasonable period of time after receipt of such request.

ARTICLE VIII

SUPPLEMENTAL AGREEMENTS

     Section 8.01. Supplemental Agreements Without Consent of Holders. Without the
consent of any Holders, the Company, the Purchase Contract Agent and the Trustee, at any time and
from time to time, may enter into one or more agreements supplemental hereto, in form satisfactory
to the Company, the Purchase Contract Agent and the Trustee, to:

          (i) evidence the succession of another Person to the Company’s obligations;

          (ii) add to the covenants for the benefit of Holders or to surrender any of the Company’s
rights or powers;

          (iii) evidence and provide for the acceptance of appointment of a successor Purchase
Contract Agent;

          (iv) make provision with respect to the rights of Holders pursuant to adjustments in the
Settlement Rate due to Business Combinations as described in this Agreement;

          (v) conform the provisions of this Agreement to the “Description of the Purchase
Contracts” section in the Prospectus Supplement;

          (vi) cure any ambiguity or to correct or supplement any provisions that may be defective
or inconsistent with other provisions hereof, provided such change does not adversely affect the
interests or rights of any Holder in any material respect; or

49

 

          (vii) to make any other change that does not adversely affect the interests or rights of
any Holder in any material respect.

     Section 8.02. Supplemental Agreements With Consent of Holders. With the consent of
the Holders of not less than a majority of the Outstanding Purchase Contracts voting together as
one class, by Act of said Holders delivered to the Company, the Purchase Contract Agent and the
Trustee, the Company, when authorized by a Board Resolution, and the Purchase Contract Agent and
the Trustee may enter into an agreement or agreements supplemental hereto for the purpose of
modifying in any manner the terms of the Purchase Contracts, or the provisions of this Agreement or
the rights of the Holders in respect of the Purchase Contracts; provided, however,
that, except as contemplated herein, no such supplemental agreement shall, without the consent of
each Holder of an Outstanding Purchase Contract affected thereby,

          (i) reduce the number of shares of Common Stock deliverable upon settlement of the
Purchase Contracts;

          (ii) change the Mandatory Settlement Date, the right to settle Purchase Contracts early or
the Fundamental Change Early Settlement Right, or otherwise adversely affect the Holder’s rights
relating to settlement under the Purchase Contract; or

          (iii) reduce the above-stated percentage of Outstanding Purchase Contracts the consent of
the Holders of which is required for the modification or amendment of the provisions of the
Purchase Contracts or this Agreement; or

          (iv) impair the right to institute suit for the enforcement of the Purchase Contracts.

It shall not be necessary for any Act of Holders under this Section to approve the particular form
of any proposed supplemental agreement, but it shall be sufficient if such Act shall approve the
substance thereof.

     Section 8.03. Execution of Supplemental Agreements. In executing, or accepting the
additional agencies created by, any supplemental agreement permitted by this Article or the
modifications thereby of the agencies created by this Agreement, the Purchase Contract Agent and
the Trustee shall be provided, and shall be fully protected in relying upon, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such supplemental agreement is
authorized or permitted by this Agreement and that any and all conditions precedent to the
execution and delivery of such supplemental agreement have been satisfied. The Purchase Contract
Agent may, but shall not be obligated to, enter into any such supplemental agreement that affects
the Purchase Contract Agent’s own rights, duties or immunities under this Agreement or otherwise
and shall have the right to indemnity as provided in Article 7 of this Agreement.

     Section 8.04. Effect of Supplemental Agreements. Upon the execution of any
supplemental agreement under this Article, this Agreement shall be modified in accordance
therewith, and such supplemental agreement shall form a part of this Agreement for all purposes;
and every Holder of Securities theretofore or thereafter authenticated, executed on behalf of the
Holders and delivered hereunder, shall be bound thereby.

     Section 8.05. Reference to Supplemental Agreements. Securities authenticated,
executed on behalf of the Holders and delivered after the execution of any supplemental agreement
pursuant to this Article may, and shall if required by the Purchase Contract Agent, bear a notation
in form approved by the Purchase Contract Agent as to any matter provided for in such supplemental
agreement. If the

50

 

Company shall so determine, new Securities so modified as to conform, in the
opinion of the Purchase Contract Agent, the Trustee and the Company, to any such supplemental
agreement may be prepared and executed by the Company and authenticated, executed on behalf of the
Holders and delivered by the Purchase Contract Agent in exchange for outstanding Securities (by the
Purchase Contract Agent and the Trustee, as applicable).

     Section 8.06. Notice of Amendment. After any supplemental agreement under this
Article becomes effective, the Company shall mail to the Holders a notice briefly describing such
supplemental agreements; provided, however, that the failure to give such notice to all Holders, or
any defect therein, shall not impair or affect the validity of any supplemental agreement under
this Article 8.

ARTICLE IX

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

     Section 9.01. Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property
Except Under Certain Conditions. The Company covenants that it will not merge with and into,
consolidate with or convert into any other Person or sell, assign, transfer, lease or convey all or
substantially all of its properties and assets to any Person, unless:

          (i) the Company is the surviving entity or the successor entity, if other than the
Company, is a corporation organized and existing under the laws of the United States of America,
any state thereof or the District of Columbia and that entity expressly assumes all of the
Company’s obligations under the Units, the Purchase Contracts and this Agreement by an agreement
supplemental hereto, executed and delivered to the Purchase Contract Agent and the Trustee;

          (ii) immediately after the merger, consolidation, conversion, sale, assignment, transfer,
lease or conveyance, no default under the Units, the Purchase Contracts or this Agreement shall
have occurred and be continuing; and

          (iii) the Company has delivered to the Purchase Contract Agent an Officers’ Certificate
and an Opinion of Counsel, each stating that such merger, consolidation, conversion, sale,
assignment, transfer, lease or conveyance and such supplemental agreement comply with this
Article 9 and that all conditions precedent herein provided for related to such transaction have
been complied with.

     Section 9.02. Rights and Duties of Successor Entity. In case of any such merger,
consolidation, sale, assignment, transfer or conveyance (but not any such lease) and upon any such
assumption by a successor entity in accordance with Section 9.01, such successor entity shall
succeed to and be substituted for the Company with the same effect as if it had been named herein
as the Company. Such successor entity thereupon may cause to be signed, and may issue either in its
own name or in the name of Wintrust Financial Corporation, any or all of the Securities evidencing
Units or Purchase Contracts issuable hereunder which theretofore shall not have been signed by the
Company and delivered to the Purchase Contract Agent; and, upon the order of such successor entity,
instead of the Company, and subject to all the terms, conditions and limitations in this Agreement
prescribed, the Purchase Contract Agent shall authenticate and execute on behalf of the Holders and
deliver any such Securities that previously shall have been signed and delivered by the officers of
the Company to the Purchase Contract Agent for authentication and execution, and any such Security
evidencing Units or Purchase Contracts that such successor corporation thereafter shall cause to be
signed and delivered to the Purchase Contract Agent for that purpose. All the Securities issued
shall in all respects have the same legal rank and benefit under this Agreement as the Securities
theretofore or thereafter issued in accordance with the terms of this Agreement as though all of
such Securities had been issued at the date of the execution hereof.

51

 

     In the event of any such merger, consolidation, conversion, sale, assignment, transfer, lease
or conveyance, such change in phraseology and form (but not in substance) may be made in the
Equity-Linked Securities thereafter to be issued as may be appropriate.

ARTICLE X

COVENANTS OF THE COMPANY

     Section 10.01. Performance Under Purchase Contracts. The Company covenants and
agrees for the benefit of the Holders from time to time of the Purchase Contracts that it will duly
and punctually perform its obligations under the Purchase Contracts in accordance with the terms of
the Purchase Contracts and this Agreement.

     Section 10.02. Maintenance of Office or Agency. The Company will maintain an office
or agency where Securities may be presented or surrendered for acquisition of shares of Common
Stock upon settlement of the Purchase Contracts on the Mandatory Settlement Date or any Early
Settlement Date and where notices and demands to or upon the Company in respect of the Purchase
Contracts and this Agreement may be served. The Company will give prompt written notice to the
Purchase Contract Agent of the location, and any change in the location, of such office or agency.
If at any time the Company shall fail to maintain any such required office or agency or shall fail
to furnish the Purchase Contract Agent with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office, and the Company hereby
appoints the Purchase Contract Agent as its agent to receive all such presentations, surrenders,
notices and demands.

     The Company hereby designates as the place of payment for the Purchase Contracts the Corporate
Trust Office and appoints the Purchase Contract Agent at its Corporate Trust Office as paying agent
in such city.

     Section 10.03. Statements of Officers of the Company as to Default; Notice of
Default.

          (a) The Company will deliver to the Purchase Contract Agent, within 120 days after the end
of each fiscal year of the Company (which fiscal year end as of the date hereof is December 31)
ending after the date hereof, an Officers’ Certificate (one of the signers of which shall be the
principal executive officer, principal financial officer or principal accounting officer of the
Company), stating whether or not to the knowledge of the signers thereof the Company is in default
in the performance and observance of any of the terms, provisions and conditions hereof, and if the
Company shall be in default, specifying all such defaults and the nature and status thereof of
which they may have knowledge.

          (b) The Company shall deliver to the Purchase Contract Agent, as soon as possible but, in
any event, within five days after the Company becomes aware of the occurrence thereof, notice of
any default in the performance and observance of any of the terms, provisions and conditions hereof
and the status thereof.

     Section 10.04. Existence. Except as otherwise permitted under Article 9, the Company
will do or cause to be done all things necessary to maintain in full force its legal existence,
rights (charter and statutory) and franchises, except that the Company is not required to preserve
any right or franchise if the Company determines that it is no longer desirable in the conduct of
its business.

     Section 10.05. Company to Reserve Common Stock. The Company shall at all times prior
to the Mandatory Settlement Date reserve and keep available, free from preemptive rights or other
encumbrances, out of its authorized but unissued Common Stock, solely for issuance upon settlement
of the Purchase Contracts, that number of shares of Common Stock as shall from time to time be
issuable

52

 

upon the settlement of all Outstanding Purchase Contracts (whether or not included in a
Unit), assuming settlement at the Maximum Settlement Rate.

     Section 10.06. Covenants as to Common Stock; Listing. The Company covenants that all
shares of Common Stock that may be issued upon settlement of any Purchase Contract represented by
the Outstanding Securities will, upon issuance, be duly authorized, validly issued, fully paid and
nonassessable, free from all taxes, liens and charges and not subject to any preemptive rights.

     The Company further covenants that, if at any time the Common Stock shall be listed on the
Nasdaq Global Select Market or any other national securities exchange, the Company will, if
permitted by the rules of such exchange, list and keep listed, so long as the Common Stock shall be
so listed on such exchange, all Common Stock issuable upon settlement of the Purchase Contracts;
provided, however, that, if the rules of such exchange system permit the Company to
defer the listing of such Common Stock until the first delivery of Common Stock upon settlement of
Purchase Contracts in accordance with the provisions of this Agreement, the Company covenants to
list such Common Stock issuable upon settlement of the Purchase Contracts in accordance with the
requirements of such exchange at such time.

     Section 10.07. Tax Treatment. The Company agrees, and by purchasing a Unit or a
beneficial ownership interest in a Unit, each Holder and each beneficial owner of a beneficial
ownership interest in a Unit agrees, for United States federal, state and local tax purposes, to
treat (1) a Unit as an investment unit composed of two separate instruments, in accordance with its
form and (2) the Notes as indebtedness.

53

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	/s/ David A. Dykstra
 	 
	 	 	Name:  	David A. Dykstra 	 
	 	 	Title:  	Senior Executive Vice President 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Purchase Contract Agent

 	 
	 	By:  	/s/ Williams Bryan Echols
 	 
	 	 	Name:  	William Bryan Echols 	 
	 	 	Title:  	Vice President 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee under the Indenture

 	 
	 	By:  	/s/ William Bryan Echols
 	 
	 	 	Name:  	William Bryan Echols 	 
	 	 	Title:  	Vice President 	 

54

 

	 	 	 	 	 

EXHIBIT A

[FORM OF FACE OF UNIT]

[INCLUDE IF A GLOBAL UNIT]

     [THIS UNIT IS A GLOBAL UNIT WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF
THE DEPOSITARY. THIS UNIT IS EXCHANGEABLE FOR UNITS REGISTERED IN THE NAME OF A PERSON OTHER THAN
THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT
AGREEMENT AND NO TRANSFER OF THIS UNIT (OTHER THAN A TRANSFER OF THIS UNIT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS UNIT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY UNIT ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND
ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.]

A-1

 

WINTRUST FINANCIAL CORPORATION

7.50% Tangible Equity Unit

CUSIP No. 97650W207

      

			
	No.                     
	 	[Initial]1 Number of Units                     

     This Unit
certifies that [CEDE & CO.] 2 [                                            
                                    ] (the “Holder”), or registered
assigns, is the registered owner of [the number of Units set forth above] [the number of Units
shown on Schedule A hereto, which number may from time to time be reduced or increased, as
appropriate in accordance with the terms of the Purchase Contract Agreement (as defined below), but
which shall not exceed                                          Units]3.

     Each Unit consists of (i) a Purchase Contract (attached hereto as Attachment 3) and (ii) a
Note (attached hereto as Attachment 4), in each case issued by the Company. Each Unit evidenced
hereby is governed by a Purchase Contract Agreement, dated as of December 10, 2010 (as may be
supplemented from time to time, the “Purchase Contract Agreement”), among the Company, U.S.
Bank National Association, as Purchase Contract Agent (including its successors hereunder, the
“Purchase Contract Agent”), and U.S. Bank National Association, as Trustee (including its
successors hereunder, the “Trustee”) under the Indenture.

     Reference is hereby made to the Purchase Contract Agreement and the Indenture and, in each
case supplemental agreements thereto, for a description of the respective rights, limitations of
rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the Company,
and the Holders and of the terms upon which the Units are, and are to be, executed and delivered.

     Upon the conditions and under the circumstances set forth in the Purchase Contract Agreement,
Holders of Units shall have the right to separate a Unit into its component parts, and a Holder of
a Separate Purchase Contract and Separate Note shall have the right to re-create a Unit.

     The Company agrees, and by purchasing a Unit each Holder agrees, for United States tax
purposes, to treat (1) a Unit as an investment unit composed of two separate instruments, in
accordance with its form and (2) the Notes as indebtedness.

     The Units, and any claim, controversy or dispute arising under or related to the Units, shall
be governed by, and construed in accordance with, the laws of the State of New York, without regard
to conflicts of laws principles thereof.

     Capitalized terms used herein and not defined have the meanings given to such terms in the
Purchase Contract Agreement.

     In the case of any conflict between this Unit and the Purchase Contract Agreement, the
provisions of the Purchase Contract Agreement shall control.

 

			
	1	 	Include if a Global Unit.
	 
	2	 	Include if a Global Unit.
	 
	3	 	Include if a Global Unit.

A-2

 

[SIGNATURES ON THE FOLLOWING PAGE]

A-3

 

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

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-4

 

	 	 	 	 	 

UNIT CERTIFICATE OF AUTHENTICATION

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE

     This is one of the Units referred to in the within-mentioned Purchase Contract Agreement.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Purchase Contract Agent

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee under the Indenture

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:_______________

A-5

 

SCHEDULE A

[INCLUDE IF A GLOBAL UNIT]

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL UNIT

     The initial number of Units evidenced by this Global Unit is                     . The following increases or
decreases in this Global Unit have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Number of Units	 	 
	 	 	Amount of increase	 	Amount of decrease	 	evidenced by the	 	Signature of
	 	 	in number of Units	 	in number of	 	Global Unit following	 	authorized signatory
	 	 	evidenced by the	 	Units evidenced by the	 	such decrease or	 	of Purchase
	Date	 	Global Unit	 	Global Unit	 	increase	 	Contract Agent
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

A-6

 

ATTACHMENT 1

[FORM OF SEPARATION NOTICE]

U.S. Bank National Association

Corporate Trust Services

1349 West Peachtree NW, Suite 1050

Atlanta, Georgia 30309

Attention: Account Manager – Wintrust

Re:      Separation of [Global]4 Units

The undersigned [Beneficial Owner]4 hereby notifies you that it wishes to                                               
               separate Units
[as to which it holds a Book-Entry Interest]4 into the applicable number of Notes and
the applicable number of Purchase Contracts in accordance with the Purchase Contract Agreement (the
“Purchase Contract Agreement”) dated as of December 10, 2010 among the Company, U.S. Bank
National Association, as Purchase Contract Agent and as Paying Agent, and U.S. Bank National
Association, as Trustee under the Indenture. Terms used and not defined herein have the meaning
assigned to such terms in the Purchase Contract Agreement.

The undersigned [includes herewith]5 [Beneficial Owner has instructed the undersigned
Depository Participant to transfer to you its Book-Entry Interests]4 the number of Units
specified in the immediately succeeding paragraph. The undersigned [includes herewith]5
[Beneficial Owner has furnished the undersigned Depository Participant with]4 the
appropriate endorsements and documents and paid all applicable transfer or similar taxes, if any,
to the extent required by the Purchase Contract Agreement.

Please [deliver to the undersigned’s address specified below]5 [transfer to the account
of the undersigned Beneficial Owner with the undersigned Depositary Participant the beneficial
interests in]4 (i) the number of Separate Notes and (ii) number of Separate Purchase
Contracts represented by the number of Units specified above.

 

			
	4	 	Include if a Global Unit.
	 
	5	 	Exclude if a Global Unit.

A-7

 

     IN WITNESS WHEREOF, the [undersigned has caused this instrument to be duly
executed]5 [Depository Participant has caused this instrument to be duly executed on
behalf of itself and the undersigned Beneficial Owner]4.

Dated:                                         

	 	 	 	 	 
	 	[NAME OF BENEFICIAL OWNER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	Address: 	 	 
	 
	 	 	 
	 	  	 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 
	[NAME OF DEPOSITORY PARTICIPANT]4

 	 	 
	  	 	 	 
	 	Name:  	 	 	 
	 	Address:
	 
	 
	 
	 	 	Attest 	 
	 
	By:  	 	 
	 	 	 
	 	 	 

A-8

 

	 	 	 	 	 

ATTACHMENT 2

[FORM OF RECREATION NOTICE]

U.S. Bank National Association

Corporate Trust Services

1349 West Peachtree NW, Suite 1050

Atlanta, Georgia 30309

Attention: Account Manager – Wintrust

Re:      Recreation of [Global]6 Units

     The undersigned [Beneficial Owner]6 hereby notifies you that it wishes to recreate                                         
Units [as to which it holds a Book-Entry Interest]6 from the applicable number of
Separate Notes and the applicable number of Separate Purchase Contracts in accordance with the
Purchase Contract Agreement (the “Purchase Contract Agreement”) dated as of December 10,
2010 among the Company, U.S. Bank National Association, as Purchase Contract Agent and as Paying
Agent, and U.S. Bank National Association, as Trustee under the Indenture. Terms used and not
defined herein have the meaning assigned to such terms in the Purchase Contract Agreement.

     The undersigned [includes herewith]7 [Beneficial Owner has instructed the
undersigned Depository Participant to transfer to you its Book-Entry Interests in]6 the
applicable number of Separate Notes and the applicable number of Separate Purchase Contracts
sufficient for the recreation of the number of Units specified above. The undersigned [includes
herewith]7 [Beneficial Owner has furnished the undersigned Depository Participant
with]6 the appropriate endorsements and documents and paid all applicable transfer or
similar taxes, if any, to the extent required by the Purchase Contract Agreement.

     Please [deliver to the undersigned’s address specified below]7 [transfer to the
account of the undersigned Beneficial Owner with the undersigned Depositary Participant the
beneficial interests in]6 the number of Units specified above.

 

			
	6	 	Include if a Global Unit.
	 
	7	 	Exclude if a Global Unit.

A-9

 

     IN WITNESS WHEREOF, the [undersigned has caused this instrument to be duly
executed]7 [Depository Participant has caused this instrument to be duly executed on
behalf of itself and the undersigned Beneficial Owner]6.

Dated:                     

	 	 	 	 	 
	 	[NAME OF BENEFICIAL OWNER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	Address: 	 
	 
	 	 	 
	 	  	 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 
	[NAME OF DEPOSITORY PARTICIPANT]5

 	 	 
	  	 	 	 
	 	Name:  	 	 	 
	 	Address:
	 
	 	 
	 	 	
Attest 	 
	 
	 	 	 
	By:  	 	 
	 	 	 
	 	 	 

A-10

 

	 	 	 	 	 

ATTACHMENT 3

[INCLUDE IF A GLOBAL UNIT]

     [THIS SECURITY IS A GLOBAL PURCHASE CONTRACT WITHIN THE MEANING OF THE PURCHASE CONTRACT
AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY. THIS GLOBAL PURCHASE CONTRACT IS EXCHANGEABLE FOR SECURITIES REGISTERED
IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS SECURITY (OTHER THAN A
TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED
EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS GLOBAL PURCHASE CONTRACT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.]

WINTRUST FINANCIAL CORPORATION

PURCHASE CONTRACTS

      

			
	No. 0002
	 	Initial Number of Purchase Contracts:                     

     This Purchase Contract certifies that CEDE & CO. (the “Holder”), or registered
assigns, is the registered owner of the number of Purchase Contracts the number of Purchase
Contracts shown on Schedule A hereto, which number may from time to time be reduced or increased,
as appropriate in accordance with the terms of the Purchase Contract Agreement (as defined below),
but which shall not exceed [           ] Purchase Contracts.

     Each Purchase Contract consists of the rights of the Holder under such Purchase Contract with
the Company. All capitalized terms used herein that are defined in the Purchase Contract Agreement
(as defined on the reverse hereof) have the meaning set forth therein.

     Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this
Purchase Contract on the Mandatory Settlement Date a number shares of common stock, no par value
(“Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase
Contract settles prior to the Mandatory Settlement Date, in which event the provisions of Section
5.03 or Section 5.04 of the Purchase Contract Agreement shall apply, all as provided in the
Purchase Contract Agreement and more fully described on the reverse hereof.

A-11

 

     Reference is hereby made to the further provisions set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place.

A-12

 

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

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-13

 

	 	 	 	 	 

PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE

     This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract
Agreement.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Purchase Contract Agent

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee under the Indenture

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:                                         

A-14

 

REVERSE OF PURCHASE CONTRACT

     Each Purchase Contract evidenced hereby is governed by a Purchase Contract Agreement, dated as
of December 10, 2010 (as may be supplemented from time to time, the “Purchase Contract
Agreement”), among the Company, U.S. Bank National Association, as Purchase Contract Agent
(including its successors hereunder, the “Purchase Contract Agent”) and U.S. Bank National
Association, as Trustee under the Indenture. Reference is hereby made to the Purchase Contract
Agreement and supplemental agreements thereto for a description of the respective rights,
limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract
Agent, the Company and the Holders and of the terms upon which the Purchase Contracts are, and are
to be, executed and delivered.

     Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this
Purchase Contract, on the Mandatory Settlement Date, a number of shares of Common Stock equal to
the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory Settlement Date,
in either case, pursuant to the terms of the Purchase Contract Agreement.

     No fractional shares of Common Stock will be issued upon settlement of Purchase Contracts, as
provided in Section 4.04 of the Purchase Contract Agreement.

     The Purchase Contracts are issuable only in registered form and only in denominations of a
single Purchase Contract and any integral multiple thereof. The transfer of any Purchase Contract
will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract
Agreement.

     The Holder of this Purchase Contract, by its acceptance hereof, authorizes the Purchase
Contract Agent to enter into and perform the Purchase Contract Agreement on its behalf as its
attorney-in-fact and agrees to be bound by the terms and provisions thereof.

     Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions of
the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the
Purchase Contracts.

     The Purchase Contracts, and any claim, controversy or dispute arising under or related to the
Purchase Contracts, shall be governed by, and construed in accordance with, the laws of the State
of New York, without regard to conflicts of laws principles thereof.

     The Company, the Purchase Contract Agent and its Affiliates and any agent of the Company or
the Purchase Contract Agent may treat the Person in whose name this Purchase Contract is registered
as the owner of the Purchase Contracts evidenced hereby for the purpose of performance of the
Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect
thereof be overdue and notwithstanding any notice to the contrary, and neither the Company, the
Purchase Contract Agent nor any such agent shall be affected by notice to the contrary.

     The Purchase Contracts shall not, prior to the settlement thereof, entitle the Holder to any
of the rights of a holder of the Common Stock or other Reference Property.

     Each Purchase Contract (whether or not included in a Unit) is a security governed by Article 8
of the Uniform Commercial Code as in effect in the State of New York on the date hereof.

     In the case of any conflict between this Purchase Contract and the Purchase Contract
Agreement, the provisions of the Purchase Contract Agreement shall control.

A-15

 

     A copy of the Purchase Contract Agreement is available for inspection at the offices of the
Purchase Contract Agent.

A-16

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of this instrument,
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	 	 
	 

	 	 
	 	 	 	 
	 

	 	(cust)
	 	 	 	(minor)

	 	 	 

	 

	 	Under Uniform Gifts to Minors Act of
	 
	 	 
	 
	 	 
	 
	 	 
	TENANT:

	 	as tenants by the entireties
	 
	 	 
	JT TEN:

	 	as joint tenants with right of survivorship and not as tenants in common

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

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
(Please insert Social Security or Taxpayer I.D. or other Identifying Number of Assignee)
(Please Print or Type Name and Address Including Postal Zip Code of Assignee)
the within Purchase Contracts and all rights thereunder, hereby irrevocably constituting and
appointing attorney                                 , to transfer said Purchase Contracts on the books of Wintrust Financial
Corporation with full power of substitution in the premises.

Dated:

	 	 	 

	 
	 	 
	 

	 	Signature

NOTICE: The signature to
this assignment must
correspond with the name
as it appears upon the
face of the within
Purchase Contracts in
every particular, without
alteration or enlargement
or any change whatsoever.

     Signature Guarantee:                                                             

A-17

 

SETTLEMENT INSTRUCTIONS

     The undersigned Holder directs that a certificate for shares of Common Stock or other
securities deliverable upon settlement on or after the Mandatory Settlement Date of the number of
Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered,
together with a check in payment for any fractional share, to the undersigned at the address
indicated below unless a different name and address have been indicated below. The undersigned will
pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned.

	 	 	 

	Dated:                     
	 	 
	 
	 	 
	 
	 	 
	 

	 	Signature
	 

	 	Signature Guarantee:                     
	 
	 	 
	 

	 	(if assigned to another Person)
	 
	 	 
	If shares are to be registered
in the name of and delivered to
a Person other than the Holder,
please (i) print such Person’s
name and address and
(ii) provide a guarantee of your
signature:
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	Name

	 	Name
	 
	 	 
	 

	 	 
	 
	 	 
	Address

	 	Address
	 
	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	Social Security or other
Taxpayer Identification
Number, if any
	 	 
	 
	 	 

A-18

 

ELECTION TO SETTLE EARLY

     The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to
effect Early Settlement in accordance with the terms of the Purchase Contract with respect to the
Purchase Contracts evidenced by this Purchase Contract specified below. The undersigned Holder
directs that a certificate for shares of Common Stock or other securities deliverable upon such
Early Settlement be registered in the name of, and delivered, together with a check in payment for
any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby
as to which Early Settlement is not effected, to the undersigned at the address indicated below
unless a different name and address have been indicated below. The undersigned will pay any
transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned.

	 	 	 

	Dated:                     
	 	 
	 
	 	 
	 
	 

	 	Signature

Signature Guarantee:

A-19

 

Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected:

	 	 	 

	If shares of Common Stock or Purchase
Contracts are to be registered in the
name of and delivered to a Person
other than the Holder, please print
such Person’s name and address:

	 	REGISTERED HOLDER
	 
	 	 
	 

	 	Please print name and address of
Registered Holder:
	 
	 	 
	 

	 	 
	 
	 	 
	Name

	 	Name
	 
	 	 
	 

	 	 
	 
	 	 
	Address

	 	Address
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	Social Security or other
Taxpayer Identification
Number, if any
	 	 
	 

	 	 

A-20

 

SCHEDULE A

SCHEDULE OF INCREASES OR DECREASES IN THE PURCHASE CONTRACTS

     The initial number of Purchase Contracts evidenced by this certificate is                     . The following
increases or decreases in this certificate have been made:

	 	 	 	 	 	 	 	 	 
	 	 	Amount of increase	 	Amount of decrease	 	Number of Purchase	 	 
	 	 	in number of Purchase	 	in number of	 	Contracts evidenced	 	Signature of
	 	 	Contracts evidenced	 	Purchase Contracts	 	by this certificate	 	authorized signatory
	 	 	by this	 	evidenced by	 	following	 	of Purchase
	Date	 	Certificate	 	this Certificate	 	such decrease or increase	 	Contract Agent
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 

A-21

 

ATTACHMENT 4

[FORM OF FACE OF NOTE]

[INCLUDE IF A UNIT]

     [THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY. THIS REGISTERED GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME
OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE
BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS REGISTERED GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.]

WINTRUST FINANCIAL CORPORATION

9.50% JUNIOR SUBORDINATED AMORTIZING NOTES

DUE DECEMBER 15, 2013

REGISTERED

			
	No.                     
	 	[Initial]6 Number of Notes                     

     WINTRUST FINANCIAL CORPORATION, an Illinois corporation (the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value
received, hereby promises to pay to CEDE & CO., or registered assigns, the initial principal sum of
$9.728182 for each of the number of Notes set forth above[, or such other number of Notes as set
forth in the Schedule of Increases or Decreases in Global Note attached hereto, which shall not
exceed [ ]]7 in quarterly installment payments (each constituting a payment of interest
at the rate per year of 9.50% and a partial repayment of principal) payable on March 15, June 15,
September 15 and December 15 of each year (each such date, an “Installment Payment Date”
and the period from, and including, December 10, 2010 to, but excluding, the first Installment
Payment Date and each subsequent full quarterly period from and including an Installment Payment
Date to, but excluding, the immediately succeeding Installment Payment Date, an “Installment
Payment Period”), commencing on March 15, 2011, all as set forth on the reverse hereof, with
the final installment payment due and payable on December 15, 2013, subject to the Company’s right
to defer such

 

			
	6	 	Include if a Global Note.
	 
	7	 	Include if a Global Note.

A-22

 

payments in accordance with the terms of the Indenture. The installment payments
payable on any Installment Payment Date shall be computed on the basis of a 360-day year consisting
of twelve 30-day months. If an installment payment is payable for any period shorter than a full
Installment Payment Period, such installment payment shall be computed on the basis of the actual
number of days elapsed per 30-day month. In the event that any date on which an installment payment
is payable is not a Business Day, then the installment payment on such date will be made on the
next succeeding day that is a Business Day, and without any interest or other payment in respect of
any such delay. However, if such Business Day is in the next succeeding calendar year, then such
installment payment shall be made on the immediately preceding Business Day, in each case with the
same force and effect as if made on such date. Installment payments shall be paid to the person in
whose name the Note is registered at the close of business on the Business Day immediately
preceding the related Installment Payment Date (each, a “Regular Record Date”) in
accordance with the terms of the Indenture. If the Notes do not remain in the form of Registered
Global Securities, the Company shall have the right to select Regular Record Dates, which will be
more than 14 days but less than 60 days prior to the relevant Installment Payment Date.

     Installments shall be payable at the office or agency of the Company maintained for that
purpose in accordance with the provisions of the Indenture.

     This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or
be valid or obligatory for any purpose until the Certificate of Authentication shall have been
signed by or on behalf of the Trustee.

     The provisions of this Note are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place.

A-23

 

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

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION,

as Issuer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: 	 

A-24

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

	 	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 
	 
	 
	 

A-25

 

[FORM OF REVERSE OF NOTE]

WINTRUST FINANCIAL CORPORATION

     This Note is one of a duly authorized series of Securities of the Company designated as its
“9.50% Junior Subordinated Amortizing Notes due 2013” (herein referred to as the “Notes”),
issued under the Junior Subordinated Indenture, dated as of December 10, 2010, between the Company
and U.S. Bank National Association, as trustee (the “Trustee,” which term includes any
successor trustee under the Indenture) (the “Base Indenture,” and the Base Indenture, as
supplemented by the First Supplemental Indenture, dated as of December 10, 2010, (the
“Supplemental Indenture”), between the Company and the Trustee, the “Indenture”),
to which Indenture 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. The
terms of other series of Securities issued under the Indenture may vary with respect to interest
rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided
in the Indenture. The Base Indenture further provides that securities of a single series may be
issued at various times, with different maturity dates and may bear interest at different rates.
This series of Securities is limited in aggregate principal amount as specified in said First
Supplemental Indenture.

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     Each installment shall constitute a payment of interest (at a rate of 9.50% per annum) and a
partial repayment of principal on the Note, allocated as set forth in the schedule below:

	 	 	 	 	 	 	 	 	 
	Scheduled Installment Payment Date	 	Amount of Principal	 	Amount of Interest
	March 15, 2011
	 	$	0.745703	 	 	$	0.243880	 
	June 15, 2011
	 	$	0.724166	 	 	$	0.213334	 
	September 15, 2011
	 	$	0.741365	 	 	$	0.196135	 
	December 15, 2011
	 	$	0.758973	 	 	$	0.178527	 
	March 15, 2012
	 	$	0.776998	 	 	$	0.160502	 
	June 15, 2012
	 	$	0.795452	 	 	$	0.142048	 
	September 15, 2012
	 	$	0.814344	 	 	$	0.123156	 
	December 15, 2012
	 	$	0.833684	 	 	$	0.103816	 
	March 15, 2013
	 	$	0.853484	 	 	$	0.084016	 
	June 15, 2013
	 	$	0.873755	 	 	$	0.063745	 
	September 15, 2013
	 	$	0.894506	 	 	$	0.042994	 
	December 15, 2013
	 	$	0.915751	 	 	$	0.021749	 

     Installment payments may be deferred by the Company in accordance with the provisions of
Section 2.03(c) of the Supplemental Indenture.

     This Note will not be subject to redemption at the option of the Company.

A-26

 

     This Note is not entitled to the benefit of any sinking fund.

     The Indenture contains provisions for defeasance and covenant defeasance at any time of the
indebtedness on this Note upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Note.

     If an Event of Default relating to specified events of bankruptcy, insolvency or
reorganization, or court appointment of a receiver, liquidator or trustee of the Company occurs and
is continuing, then and in each such case either the Trustee or the Holders of not less than 25% in
aggregate initial principal amount of the Notes then outstanding, by notice in writing to the
Company (and to the Trustee if given by Holders), may declare the principal amount of all the Notes
to be due and payable immediately, and upon any such declaration the same shall become immediately
due and payable. This provision, however, is subject to the condition that, at any time after such
a declaration of acceleration, and before any judgment or decree for the payment of the money due
shall have been obtained or entered, 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
and rescind and annul such declaration and its consequences, if certain conditions are met as set
forth in the Indenture.

     There is no right of acceleration upon the occurrence of an Event of Default described in
Section 5.01(a) of the Supplemental Indenture or as described in Section 6.01(b) of the Base
Indenture.

     In the case of an Event of Default relating to the default by the Company in the payment in
full of all deferred installment payments on the Notes on or by December 15, 2015 and continuance
of such failure to pay for a period of 30 days, 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, premium, if any, or interest, or any
combination thereof, as the case may be, with interest upon the overdue principal 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; and, in addition, such further amount as
shall be sufficient to cover the costs and expenses of collection, including reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents, attorneys and
counsel. If the Company does not pay such amounts upon such demand, the Trustee shall be entitled
and empowered to institute any actions or proceeding 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 money adjudged or decreed to be payable.

     The Indenture permits, with certain exceptions as therein provided, the Company and the
Trustee, with the consent of the Holders of not less than a majority in principal amount of the
Securities at the time outstanding of each series issued under the Indenture to be affected
thereby, to execute supplemental indentures for certain purposes as described therein.

     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 installments on this Note at the time, place
and rate, and in the coin or currency, herein and in the Indenture prescribed, subject to the
Company’s right to defer installment payments as described therein.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note shall be registered on the Security Register of the Company, upon surrender
of this Note for registration of transfer at the office or agency of the Company in St. Paul,
Minnesota, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney
duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor,
of authorized denominations and for the same aggregate principal amount, shall be issued to the
designated transferee or transferees.

A-27

 

     The Notes are initially issued in the form of Registered Global Securities without coupons in
initial minimum denominations of one Note and integral multiples in excess thereof.

     No charge shall be made for any such registration of transfer or exchange, but the Company may
require the payment of a sum sufficient to cover any applicable tax or other governmental charge
payable in connection with the transfer.

     The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the
Holder in whose name any Note shall be registered upon the Security Register for the Notes 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) for the purpose of receiving installment payments
on such Note and for all other purposes; and neither the Company nor the Trustee nor any agent of
the Company or the Trustee shall be affected by any notice to the contrary.

     This Note and the Indenture, and any claim, controversy or dispute arising under or related to
the Indenture or this Note, for all purposes shall be governed by and construed in accordance with
the laws of the State of New York (without regard to the conflicts of laws provisions thereof).
Each of the Company and the Trustee, and each Holder of a Security by its acceptance thereof,
hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right it
may have to trial by jury in any legal proceeding directly or indirectly arising out of or relating
to this Indenture, the Notes or the transactions contemplated hereby or thereby.

     All terms used in this Note which are defined in the Indenture and not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

     No recourse under or upon any obligation, covenant or agreement contained in the Indenture, or
this Note, or because of any indebtedness evidenced thereby, shall be had against any incorporator,
as such or against any past, present or future stockholder, Officer, director or employee, as such,
of the Company or of any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of any assessment or by
any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance of this Note by the Holders hereof and as part of the consideration for
the issue of this Note.

     The Company and each Holder agrees, and by acceptance of a beneficial ownership interest in
the Notes, each beneficial owner of a beneficial ownership interest in the Notes will be deemed to
have agreed, for U.S. federal, state and local tax purposes, to treat the Notes as indebtedness.

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

A-28

 

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:

                                                                                                                        
(Insert assignee’s social security or tax identification number)

                                                                                                                        
(Insert address and zip code of assignee)

and irrevocably appoints agent to transfer this Note on the books of the Company. The agent may
substitute another to act for him or her.

Date:                                                                                 

Signature:                                                                                 

Signature Guarantee:

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

A-29

 

SIGNATURE GUARANTEE

     Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the 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 Registrar in addition to, or in substitution for, STAMP, all in accordance with
the Securities Exchange Act of 1934, as amended.

	 	 	 	 	 
	By:  	 	 
	 	Name 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	as Trustee

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Attest:

 	 
	By:  	 	 
	 	Name 	 
	 	Title:  	 	 

A-30

 

	 	 	 	 	 

[TO BE ATTACHED TO GLOBAL NOTES]

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL NOTE

     The initial number of Notes evidenced by this Global Note is                . The
following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Number of Notes	 	 
	 	 	Amount of  decrease	 	Amount of  increase in	 	evidenced by this	 	 
	 	 	in number of Notes	 	number of Notes	 	Global Note following	 	Signature of
	 	 	evidenced by this	 	evidenced by this	 	such decrease (or	 	authorized signatory of
	Date	 	Global Note	 	Global Note	 	increase)	 	Trustee
	 
	 	 	 	 	 	 	 	 

A-31

 

EXHIBIT B

[FORM OF FACE OF PURCHASE CONTRACT]

[INCLUDE IF A GLOBAL PURCHASE CONTRACT]

     [THIS PURCHASE CONTRACT IS A GLOBAL PURCHASE CONTRACT WITHIN THE MEANING OF THE PURCHASE
CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS PURCHASE CONTRACT IS EXCHANGEABLE FOR A PURCHASE
CONTRACT REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS PURCHASE
CONTRACT (OTHER THAN A TRANSFER OF THIS PURCHASE CONTRACT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE
OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS PURCHASE CONTRACT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY PURCHASE CONTRACT ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.]

B-1

 

WINTRUST FINANCIAL CORPORATION

PURCHASE CONTRACTS

CUSIP No. 97650W140

	 	 	 

	No.

	 	[Initial]8 Number of Purchase Contracts:                     
	 

	 	                    

     This Purchase Contract certifies that [CEDE & CO.]9 [                                           
                                     ] (the “Holder”), or
registered assigns, is the registered owner of [the number of Purchase Contracts set forth above]
[the number of Purchase Contracts shown on Schedule A hereto, which number may from time to time be
reduced or increased, as appropriate in accordance with the terms of the Purchase Contract
Agreement (as defined below), but which shall not exceed                                          Purchase Contracts].10

     Each Purchase Contract consists of the rights of the Holder under such Purchase Contract with
the Company. All capitalized terms used herein that are defined in the Purchase Contract Agreement
(as defined on the reverse hereof) have the meaning set forth therein.

     Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this
Purchase Contract on the Mandatory Settlement Date a number shares of common stock, no par value
(“Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase
Contract settles prior to the Mandatory Settlement Date, in which event the provisions of Section
5.03 or Section 5.04 of the Purchase Contract Agreement shall apply, all as provided in the
Purchase Contract Agreement and more fully described on the reverse hereof.

     Reference is hereby made to the further provisions set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place.

 

			
	8	 	Include if a Global Purchase Contract.
	 
	9	 	Include if a Global Purchase Contract.
	 
	10	 	Include if a Global Purchase Contract.

B-2

 

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

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: ______________________

B-3

 

PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE

     This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract
Agreement.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Purchase Contract Agent

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee under the Indenture

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated: ______________________

B-4

 

[FORM OF REVERSE OF PURCHASE CONTRACT]

     Each Purchase Contract evidenced hereby is governed by a Purchase Contract Agreement, dated as
of December 10, 2010 (as may be supplemented from time to time, the “Purchase Contract
Agreement”), among the Company, U.S. Bank National Association, as Purchase Contract Agent
(including its successors hereunder, the “Purchase Contract Agent”) and U.S. Bank National
Association, as Trustee under the Indenture. Reference is hereby made to the Purchase Contract
Agreement and supplemental agreements thereto for a description of the respective rights,
limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract
Agent, the Company and the Holders and of the terms upon which the Purchase Contracts are, and are
to be, executed and delivered.

     Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this
Purchase Contract, on the Mandatory Settlement Date, a number of shares of Common Stock equal to
the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory Settlement Date,
in either case, pursuant to the terms of the Purchase Contract Agreement.

     No fractional shares of Common Stock will be issued upon settlement of Purchase Contracts, as
provided in Section 4.04 of the Purchase Contract Agreement.

     The Purchase Contracts are issuable only in registered form and only in denominations of a
single Purchase Contract and any integral multiple thereof. The transfer of any Purchase Contract
will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract
Agreement.

     The Holder of this Purchase Contract, by its acceptance hereof, authorizes the Purchase
Contract Agent to enter into and perform the Purchase Contract Agreement on its behalf as its
attorney-in-fact and agrees to be bound by the terms and provisions thereof.

     Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions of
the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the
Purchase Contracts.

     The Purchase Contracts, and any claim, controversy or dispute arising under or related to the
Purchase Contracts, shall be governed by, and construed in accordance with, the laws of the State
of New York, without regard to conflicts of laws principles thereof.

     The Company, the Purchase Contract Agent and its Affiliates and any agent of the Company or
the Purchase Contract Agent may treat the Person in whose name this Purchase Contract is registered
as the owner of the Purchase Contracts evidenced hereby for the purpose of performance of the
Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect
thereof be overdue and notwithstanding any notice to the contrary, and neither the Company, the
Purchase Contract Agent nor any such agent shall be affected by notice to the contrary.

     The Purchase Contracts shall not, prior to the settlement thereof, entitle the Holder to any
of the rights of a holder of the Common Stock or other Reference Property.

     Each Purchase Contract (whether or not included in a Unit) is a security governed by Article 8
of the Uniform Commercial Code as in effect in the State of New York on the date hereof.

     In the case of any conflict between this Purchase Contract and the Purchase Contract
Agreement, the provisions of the Purchase Contract Agreement shall control.

B-5

 

     A copy of the Purchase Contract Agreement is available for inspection at the offices of the
Purchase Contract Agent.

B-6

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of this instrument,
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                                                          
	 

	 	(cust)                                                                                  (minor)
	 
	 	 
	 
	 	 
	 

	 	Under Uniform Gifts to Minors Act of                                                                 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	TENANT:

	 	as tenants by the entireties
	 
	 	 
	JT TEN:

	 	as joint tenants with right of survivorship and not as tenants in common

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

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

(Please insert Social Security or Taxpayer I.D. or other Identifying Number of Assignee)

(Please Print or Type Name and Address Including Postal Zip Code of Assignee)
the within Purchase Contracts and all rights thereunder, hereby irrevocably constituting and
appointing attorney                                                             , to transfer said Purchase Contracts on the books of Wintrust Financial
Corporation with full power of substitution in the premises.

	 	 	 

	Dated:                                                             

	 	Signature
	 
	 	 
	 

	 	NOTICE: The signature to this assignment must correspond with the
name as it appears upon the face of the within Purchase Contracts
in every particular, without alteration or enlargement or any
change whatsoever.

Signature Guarantee:                                                                     
                                

B-7

 

SETTLEMENT INSTRUCTIONS

     The undersigned Holder directs that a certificate for shares of Common Stock or other
securities deliverable upon settlement on or after the Mandatory Settlement Date of the number of
Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered,
together with a check in payment for any fractional share, to the undersigned at the address
indicated below unless a different name and address have been indicated below. The undersigned will
pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned.

Dated: __________________________________

Signature: _______________________________

Signature Guarantee: ______________________

(if assigned to another Person)

	 	 	 

	If shares are to be registered in the name of and
delivered to a Person other than the Holder, please
(i) print such Person’s name and address and
(ii) provide a guarantee of your signature:
	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	Name

	 	Name
	 

	 	 
	 

	 	 
	 
	 	 
	Address

	 	Address
	 

	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	Social Security or other
Taxpayer Identification
Number, if any

	 	 
	 

	 	 

B-8

 

ELECTION TO SETTLE EARLY

     The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to
effect Early Settlement in accordance with the terms of the Purchase Contract with respect to the
Purchase Contracts evidenced by this Purchase Contract specified below. The undersigned Holder
directs that a certificate for shares of Common Stock or other securities deliverable upon such
Early Settlement be registered in the name of, and delivered, together with a check in payment for
any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby
as to which Early Settlement is not effected, to the undersigned at the address indicated below
unless a different name and address have been indicated below. The undersigned will pay any
transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned.

Dated:                                                                       

Signature Guarantee:                                                                                                        

Signature

B-9

 

Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected:

	 	 	 

	If shares of Common Stock or Purchase
Contracts are to be registered in the
name of and delivered to a Person
other than the Holder, please print
such Person’s name and address:

	 	REGISTERED HOLDER
	 
	 	 
	 

	 	Please print name and address of
Registered Holder:
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	Name

	 	Name
	 

	 	 
	 

	 	 
	 
	 	 
	Address

	 	Address
	 

	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	Social Security or other
Taxpayer Identification
Number, if any

	 	 
	 

	 	 

B-10

 

SCHEDULE A

[INCLUDE IF A GLOBAL PURCHASE CONTRACT]

SCHEDULE OF INCREASES OR DECREASES IN THE PURCHASE CONTRACTS

     The initial number of Purchase Contracts evidenced by this certificate is                                                             . The following
increases or decreases in this certificate have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount of decrease	 	Number of Purchase	 	 
	 	 	 	 	Amount of increase	 	in number of	 	Contracts evidenced	 	Signature of
	 	 	 	 	in number of Purchase	 	Purchase Contracts	 	by the Global Purchase	 	authorized signatory
	 	 	 	 	Contracts evidenced by	 	evidenced by the	 	Contract following	 	of Purchase
	Date	 	the Global Purchase Contract	 	Global Purchase Contract	 	such decrease or increase	 	Contract Agent

B-11

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