Document:

Exhibit 10.2 

 

Execution Version

Confidential

 

SUBSCRIPTION AGREEMENT

 

Atlas Crest Investment Corp.

399 Park Avenue

New York, New York 10022

 

Ladies and Gentlemen:

 

This Subscription Agreement
(this “Subscription Agreement”) is being entered into as of the date set forth on the signature page hereto,
by and between Atlas Crest Investment Corp., a Delaware corporation (“Atlas”), and the undersigned subscriber
(the “Investor”), in connection with the Business Combination Agreement, dated as of the date hereof (as may
be amended, supplemented or otherwise modified from time to time, the “Transaction Agreement”), by and among
Atlas, Artemis Acquisition Sub Inc., a Delaware corporation (“Merger Sub”) and Archer Aviation Inc., a Delaware
corporation (the “Company”), pursuant to which, among other things, the parties will effect the consummation
of a series of related transactions to effect the business combination contemplated thereby and Merger Sub will merge with and
into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, the Company
will be a wholly-owned subsidiary of Atlas, on the terms and subject to the conditions therein (the transactions contemplated by
the Transaction Agreement, the “Transaction”).  In connection with
the Transaction, Atlas is seeking commitments from interested investors to purchase, prior to the closing of the Transaction, shares
of Atlas’s Class A common stock, par value $0.0001 per share (the “Shares”), in a private placement for
a purchase price of $10.00 per share (the “Per Share Purchase Price”). On or about the date of this Subscription
Agreement, Atlas is entering into subscription agreements (the “Other Subscription Agreements” and together
with this Subscription Agreement, the “Subscription Agreements”) with certain other investors (the “Other
Investors” and together with the Investor, the “Investors”), pursuant to which the Investors have
agreed, severally and not jointly, to purchase on the closing date of the Transaction, inclusive of the Shares subscribed for by
the Investor, an aggregate amount of up to 60,000,000 Shares, at the Per Share Purchase Price. The aggregate purchase price to
be paid by the Investor for the subscribed Shares (as set forth on the signature page hereto) is referred to herein as the “Subscription
Amount.” 

 

In connection therewith,
and in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions,
set forth herein, and intending to be legally bound hereby, each of the Investor and Atlas acknowledges and agrees as follows:

 

1. Subscription.
The Investor hereby irrevocably subscribes for and agrees to purchase from Atlas, and Atlas hereby agrees to issue and sell
to the Investor upon payment of the Subscription Amount, the number of Shares set forth on the signature page of this Subscription
Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that Atlas reserves
the right to accept or reject the Investor’s subscription for the Shares for any reason or for no reason, in whole or in
part, at any time prior to its acceptance, and the same shall be deemed to be accepted by Atlas only when this Subscription Agreement
is signed by a duly authorized person by or on behalf of Atlas; Atlas may do so in counterpart form. The
Investor acknowledges and agrees that the Shares that will be issued pursuant hereto
shall be shares of Class A common stock in a Delaware corporation.

 

2. Closing.
The closing of the sale of the Shares contemplated hereby (the “Closing”)
is contingent upon the substantially concurrent consummation of the Transaction. The Closing shall occur on the date of, and substantially
concurrently with and conditioned upon the consummation and effectiveness of, the Transaction. Upon (a) satisfaction or waiver
of the conditions set forth in this Section 2 and Section 3 below and (b) delivery of written notice from (or on behalf of) Atlas
to the Investor (the “Closing Notice”), that Atlas reasonably expects all
conditions to the closing of the Transaction to be satisfied or waived on a date that is not less than five (5) business days
from the date on which the Closing Notice is delivered to the Investor, the Investor shall deliver to Atlas, three (3) business
days prior to the expected closing date specified in the Closing Notice (the “Closing
Date”), the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s)
specified by Atlas in the Closing Notice. On the Closing Date, Atlas shall (i) issue the number of Shares to the Investor set
forth on the signature page to this Subscription Agreement and subsequently cause such Shares to be registered in book entry form,
free and clear of any liens or other restrictions whatsoever (other than those arising under state or federal securities laws
or as set forth herein), in the name of the Investor on Atlas’s share register and (ii) deliver or cause to be delivered
written notice from Atlas or its transfer agent evidencing the issuance to the Investor of the Shares on and as of the Closing
Date; provided, however, that Atlas’s obligation to issue the Shares to the Investor is contingent upon Atlas having received
the Subscription Amount in full accordance with this Section 2. In the event that the consummation of the Transaction does not
occur within two (2) business days after the anticipated Closing Date specified in the Closing Notice, Atlas shall promptly (but
in no event later than two (2) business days after the anticipated Closing Date specified in the Closing Notice) return the funds
so delivered by the Investor to Atlas by wire transfer in immediately available funds to the account specified by the Investor.
Notwithstanding such return, (i) failure to close on the Closing Date contained in the Closing Notice shall not, by itself, be
deemed to be a failure of any of the conditions to Closing set forth in this Section 2 to be satisfied or waived, and (ii) Investor
shall remain obligated to (A) redeliver funds to Atlas following Atlas's delivery to Investor of a new Closing Notice with a new
Closing Date in accordance with this Subscription Agreement and (B) consummate the Closing upon satisfaction of the conditions
set forth in Section 3, subject to termination of this Agreement in accordance with Section 8 below. For purposes of this Subscription
Agreement, “business day” shall mean a day, other than a Saturday or Sunday, on which commercial banks in New York,
New York are open for the general transaction of business.

 

     

     

    

 

3. Closing Conditions.

 

a. The obligation
of the parties hereto to consummate the purchase and sale of the Shares pursuant to this Subscription Agreement is subject to
the following conditions:

 

(i)
no applicable governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law,
rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation
of the transactions contemplated hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated
hereby;

 

(ii)
all conditions precedent to the closing of the Transaction under the Transaction Agreement shall have been satisfied or
waived (as determined by the parties to the Transaction Agreement and other than those conditions under the Transaction Agreement
which, by their nature, are to be fulfilled at the closing of the Transaction, including to the extent that any such condition
is dependent upon the consummation of the purchase and sale of the Shares pursuant to this Subscription Agreement);

 

(iii)
the New York Stock Exchange (the “NYSE”) shall have conditionally authorized, subject to official notice
of issuance, the listing of the Shares; and

 

(iv) no
suspension of the qualification of the Shares for offering or sale or trading in any jurisdiction, or initiation or
threatening of any proceedings for any of such purposes shall have occurred.

 

b.
The obligation of Atlas to consummate the issuance and sale of the Shares pursuant to this Subscription Agreement shall
be subject to the condition that all representations and warranties of the Investor contained in this Subscription Agreement are
true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Material
Adverse Effect (as defined herein), which representations and warranties shall be true in all respects) at and as of the Closing
Date (other than those representations and warranties expressly made as of an earlier date, which shall be true and correct in
all material respects, or in all respects, as applicable, as of such earlier date), and consummation of the Closing shall constitute
a reaffirmation by the Investor of each of the representations and warranties of the Investor contained in this Subscription Agreement
as of the Closing Date (other than those representations and warranties expressly made as of an earlier date, which shall be true
and correct in all material respects, or in all respects, as applicable, as of such earlier date).

 

c. The obligation
of the Investor to consummate the purchase of the Shares pursuant to this Subscription Agreement shall be subject to the
conditions that, at the Closing:

 

(i)
all representations and warranties of Atlas contained in this Subscription Agreement shall be true and correct in all material
respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect (as defined
herein), which representations and warranties shall be true in all respects) at and as of the Closing Date (other than those representations
and warranties expressly made as of an earlier date, which shall be true and correct in all material respects, or in all respects,
as applicable, as of such earlier date), and consummation of the Closing shall constitute a reaffirmation by Atlas of each of the
representations and warranties of Atlas contained in this Subscription Agreement as of the Closing Date (other than those representations
and warranties expressly made as of an earlier date, which shall be true and correct in all material respects, or in all respects,
as applicable, as of such earlier date); and

 

(ii)
all obligations, covenants and agreements of Atlas required by this Subscription Agreement to be performed by it at or prior
to the Closing shall have been performed in all material respects.

 

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4. Further Assurances.
At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as
the parties reasonably may deem to be practical and necessary in order to consummate the subscription as contemplated by this
Subscription Agreement.

 

5. Atlas Representations
and Warranties. Atlas represents and warrants to the Investor that:

 

a.  Atlas
has been duly incorporated, and is validly existing and in good standing under the laws of the State of Delaware. Atlas has
all power (corporate or otherwise) and authority to own, lease and operate its properties and conduct its business as
presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement.

 

b.
As of the Closing Date, the Shares will be duly authorized and, when issued and delivered to the Investor against full payment
therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable
and will not have been issued in violation of or subject to any preemptive or similar rights created under Atlas’s certificate
of incorporation (as amended to the Closing Date) or under the General Corporation Law of the State of Delaware.

 

c. Each of this
Subscription Agreement, the Other Subscription Agreements and the Transaction Agreement (the “Transaction
Documents”) has been duly authorized, executed and delivered by Atlas and, assuming that each Transaction Document
constitutes the valid and binding agreement of the other parties thereto, each Transaction Document is a valid and binding
obligation of Atlas, enforceable against Atlas in accordance with its terms, except as may be limited or otherwise affected
by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the
rights of creditors generally, or (ii) principles of equity, whether considered at law or equity.

 

d.
The issuance and sale of the Shares and the compliance by Atlas with all of the provisions of this Subscription Agreement
and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of
the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance
upon any of the property or assets of Atlas or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed
of trust, loan agreement, lease, license or other agreement or instrument to which Atlas or any of its subsidiaries is a party
or by which Atlas or any of its subsidiaries is bound or to which any of the property or assets of Atlas is subject that would
reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of Atlas
and its subsidiaries, taken as a whole (a “Material Adverse Effect”) or materially affect the validity of the Shares
or the legal authority of Atlas to comply in all material respects with the terms of this Subscription Agreement; (ii) result in
any violation of the provisions of the organizational documents of Atlas; or (iii) result in any violation of any statute or any
judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over
Atlas or any of their properties that would reasonably be expected to have a Material Adverse Effect or materially affect the validity
of the Shares or the legal authority of Atlas to comply in all material respects with this Subscription Agreement.

 

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e.  As
of their respective dates, all reports (the “SEC Reports”) required to be filed by Atlas with the U.S.
Securities and Exchange Commission (the “SEC”) complied in all material respects with the applicable
requirements of the Securities Act of 1933, as amended, (the “Securities Act”) and/or the Securities
Exchange Act of 1934, as amended, (the “Exchange Act”) and the rules and regulations of the SEC
promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading. The financial statements of Atlas included in the SEC Reports
comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect
thereto as in effect at the time of filing and fairly present in all material respects the financial position of Atlas as of
and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of
unaudited statements, to normal, year-end audit adjustments. A copy of each SEC Report is available to the Investor
via the SEC’s EDGAR system. There are no material outstanding or unresolved comments in comment letters from the staff
of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports.

 

f.  Assuming
the accuracy of the Investor’s representations and warranties set forth in Section 6, no registration under the
Securities Act is required for the offer and sale of the Shares by Atlas to the Investor hereunder. Atlas is not
required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration
with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person
in connection with the execution, delivery and performance by Atlas of this Subscription Agreement (including, without
limitation, the issuance of the Shares), other than (i) filings with the SEC, (ii) filings required by applicable state
securities laws, (iii) filings required in accordance with Section 12 of this Subscription Agreement, (iv) filings required
by the NYSE, or such other applicable stock exchange on which Atlas's common stock is then listed, and (v) the failure of
which to obtain would not be reasonably likely to have, individually or in the aggregate, a Material Adverse Effect. The
Shares (i) were not offered by any form of general solicitation or general advertising (within the meaning of Regulation
D) and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of,
the Securities Act, or any state securities laws.

 

g.
Other than the Other Subscription Agreements, the Transaction Agreement and any other agreement expressly contemplated by
the Transaction Agreement or described in the SEC Reports, Atlas has not entered into any side letter or similar agreement with
any investor in connection with such investor’s direct or indirect investment in Atlas (other than any side letter or similar
agreement relating to the transfer to any investor of (i) securities of Atlas by existing securityholders of Atlas, which may be
effectuated as a forfeiture to Atlas and reissuance, or (ii) securities to be issued to the direct or indirect securityholders
of the Company pursuant to the Transaction Agreement). Except for any alternative settlement procedures, eligibility for qualified
purchasers to invest, and other than terms particular to the regulatory requirements of such investors or its affiliates or related
funds, no Other Subscription Agreement includes terms and conditions that are materially more favorable to any such Other Investor
than Investor hereunder, and such Other Subscription Agreements reflect the same Per Share Purchase Price. The Other Subscription
Agreements have not been amended in any material respect following the date of this Subscription Agreement.

 

h.
Except for such matters as have not had and would not be reasonably likely to have,
individually or in the aggregate, a Material Adverse Effect, as of the date hereof, there is no (i) action, suit, claim or
other proceeding, in each case by or before any governmental authority pending, or, to the knowledge of Atlas, threatened against
Atlas or (ii) judgment, decree, injunction, ruling or order of any governmental entity or arbitrator outstanding against Atlas.
Atlas is in compliance with all applicable laws, except where such non-compliance would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect. Atlas has not received any written communication from a governmental authority
that alleges that Atlas is not in compliance with or is in default or violation of any applicable law, except where such non-compliance,
default or violation would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

 

i.
As of the date hereof, the issued and outstanding shares of Class A stock of
Atlas are registered pursuant to Section 12(b) of the Securities Exchange Act, and are listed for trading on the NYSE under
the symbol “ACIC.” There is no suit, action, proceeding or investigation pending or, to the knowledge of Atlas, threatened
against Atlas by NYSE or the SEC with respect to any intention by such entity to deregister the Shares or prohibit or terminate
the listing of the Shares on NYSE. Atlas has taken no action that is designed to terminate the registration of the Shares under
the Exchange Act.

 

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j.
As of the date of this Subscription Agreement, the authorized capital stock of Atlas consists of (i) 200,000,000 shares
of Class A common stock, (ii) 20,000,000 shares of Class B common stock and (iii) 1,000,000 preferred shares, each with
a par value of $0.0001 per share. As of the date of this Subscription Agreement, (A) 50,000,000 shares of Class A common stock
of Atlas are issued and outstanding, (B) 12,500,000 shares of Class B common stock of Atlas are issued and outstanding, (C)
24,666,667 warrants to purchase shares of Class A common stock of Atlas are issued and outstanding, and (D) no preference
shares are issued and outstanding. All (1) issued and outstanding shares of Class A common stock and shares of Class B
common stock of Atlas have been duly authorized and validly issued, are fully paid and are non-assessable and (2) outstanding
warrants have been duly authorized and validly issued. Except as set forth above and pursuant to the Other Subscription Agreements,
the Transaction Agreement and the other agreements and arrangements referred to therein or in the SEC Reports, as of the date hereof,
there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from Atlas any shares of Class A
common stock, shares of Class B common stock or other equity interests in Atlas, or securities convertible into or exchangeable
or exercisable for such equity interests. As of the date hereof, Atlas has no subsidiaries, other than Merger Sub, and does not
own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated.
There are no shareholder agreements, voting trusts or other agreements or understandings to which Atlas is a party or by which
it is bound relating to the voting of any securities of Atlas, other than (1) as set forth in the SEC Reports and (2) as
contemplated by the Transaction Agreement. There are no securities or instruments issued by Atlas containing anti-dilution provisions
that will be triggered by the issuance of (i) the Shares pursuant to this Subscription Agreement or (ii) the Shares to be issued
pursuant to any Other Subscription Agreement, in each case, that have not been or will not be validly waived on or prior to the
Closing Date.

 

k.
As of the date hereof, Atlas is not under any obligation to pay any broker’s fee or commission in connection with
the sale of the Shares other than to the Placement Agents (as defined herein).

 

6. Investor Representations
and Warranties. The Investor represents and warrants to Atlas that:

 

a. The Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or
an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), in each case,
satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring the Shares only for its own account and
not for the account of others, or if the Investor is subscribing for the Shares as a fiduciary or agent for one or more investor
accounts, the Investor has full investment discretion with respect to each such account, and the full power and authority to make
the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring
the Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act
(and shall provide the requested information set forth on Schedule A).

 

b.
The Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering
within the meaning of the Securities Act and that the Shares have not been registered under the Securities Act. The Investor acknowledges
and agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by the Investor absent an
effective registration statement under the Securities Act except (i) to Atlas or a subsidiary thereof, (ii) to non-U.S. persons
pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or
(iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and in each of clauses
(i) and (iii) in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and
that any certificates representing the Shares shall contain a restrictive legend to such effect. The Investor acknowledges and
agrees that the Shares will be subject to transfer restrictions and, as a result of these transfer restrictions, the Investor may
not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required to bear the financial
risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees that the Shares will
not be immediately eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities
Act until at least one year from the Closing Date. The Investor acknowledges and agrees that it has been advised to consult legal
counsel prior to making any offer, resale, transfer, pledge or disposition of any of the Shares.

 

c.  The
Investor acknowledges and agrees that the Investor is purchasing the Shares from Atlas. The Investor further acknowledges
that there have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of Atlas,
the Company, any of their respective affiliates or any control persons, officers, directors, employees, partners, agents or
representatives of any of the foregoing or any other person or entity, expressly or by implication, other than those
representations, warranties, covenants and agreements of Atlas expressly set forth in this Subscription Agreement.

 

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d.
The Investor’s acquisition and holding of the Shares will not constitute or result in a non-exempt prohibited transaction
under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section 4975 of the Internal Revenue Code
of 1986, as amended, or any applicable similar law.

 

e. The Investor acknowledges and agrees that the Investor has received such information as the Investor deems necessary in
order to make an investment decision with respect to the Shares, including, with respect to Atlas, the Transaction and the business
of the Company and its subsidiaries. Without limiting the generality of the foregoing, the Investor acknowledges that he, she or
it has reviewed Atlas’s filings with the SEC. The Investor acknowledges and agrees that the Investor and the Investor’s
professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information
as the Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment decision
with respect to the Shares.

 

f. The Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and Atlas,
the Company or a representative of Atlas or the Company, and the Shares were offered to the Investor solely by direct contact between
the Investor and Atlas, the Company or a representative of Atlas or the Company. The Investor did not become aware of this offering
of the Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that the Shares (i) were
not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public
offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. The Investor acknowledges
that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation
(including, without limitation, Atlas, the Company, the Placement Agents (defined below), any of their respective affiliates or
any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), other than the
representations and warranties of Atlas contained in Section 5 of this Subscription Agreement, in making its investment or decision
to invest in Atlas.

 

g.
The Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the
Shares, including those set forth in Atlas’s filings with the SEC. The Investor has such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the Investor has sought
such accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor
will not look to the Placement Agents for all or part of any such loss or losses the Investor may suffer and is able to sustain
a complete loss on its investment in the Shares.

 

h.
Alone, or together with any professional advisor(s), the Investor has adequately analyzed and fully considered the risks
of an investment in the Shares and determined that the Shares are a suitable investment for the Investor and that the Investor
is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Investor’s investment
in Atlas. The Investor acknowledges specifically that a possibility of total loss exists.

 

i.
In making its decision to purchase the Shares, the Investor has relied solely upon independent investigation made by the
Investor. Without limiting the generality of the foregoing, the Investor has not relied on any statements or other information
provided by or on behalf of the Placement Agents or any of their respective affiliates or any control persons, officers, directors,
employees, partners, agents or representatives of any of the foregoing concerning Atlas, the Company, the Transaction, the Transaction
Agreement, this Subscription Agreement or the transactions contemplated hereby or thereby, the Shares or the offer and sale of
the Shares.

 

j.
The Investor acknowledges that the Placement Agents: (i) have not provided the Investor with any information or advice with
respect to the Shares, (ii) have not made or make any representation, express or implied as to Atlas, the Company, the Company’s
credit quality, the Shares or the Investor’s purchase of the Shares, (iii) have not acted as the Investor’s financial
advisor or fiduciary in connection with the issue and purchase of Shares, (iv) may have acquired, or during the term of the Shares
may acquire, non-public information with respect to the Company, which the Investor agrees need not be provided to it, and (v)
may have existing or future business relationships with Atlas and the Company (including, but not limited to, an equity interest
in Atlas, lending, depository, risk management, advisory and banking relationships) and will pursue actions and take steps that
it deems or they deem necessary or appropriate to protect its or their interests arising therefrom without regard to the consequences
for a holder of Shares, and that certain of these actions may have material and adverse consequences for a holder of Shares.

 

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k.
The Investor acknowledges that it has not relied on the Placement Agents in connection with its determination as to the
legality of its acquisition of the Shares or as to the other matters referred to herein and the Investor has not relied on any
investigation that the Placement Agents, any of their affiliates or any person acting on their behalf have conducted with respect
to the Shares, Atlas or the Company. The Investor further acknowledges that it has not relied on any information contained in any
research reports prepared by the Placement Agents or any of their affiliates.

 

l.
The Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Shares or made any findings or determination as to the fairness of this investment.

 

m. The Investor, if
not an individual, has been duly formed or incorporated and is validly existing and is in good standing under the laws of its
jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations under
this Subscription Agreement.

 

n.
The execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor,
have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or
regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to
which the Investor is a party or by which the Investor is bound, and, if the Investor is not an individual, will not violate any
provisions of the Investor’s organizational documents, including, without limitation, its incorporation or formation papers,
bylaws, indenture of trust or partnership or operating agreement, as may be applicable. The signature of the Investor on this Subscription
Agreement is genuine, and the signatory, if the Investor is an individual, has legal competence and capacity to execute the same
or, if the Investor is not an individual, the signatory has been duly authorized to execute the same, assuming that this Subscription
Agreement constitutes the legal, valid and binding obligation of Atlas, and this Subscription Agreement constitutes a legal, valid
and binding obligation of the Investor, enforceable against the Investor in accordance with its terms except as may be limited
or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to
or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.

 

o.
The Investor is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons, the
Executive Order 13599 List, the Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, each of which is
administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), or any other Executive
Order issued by the President of the United States and administered by OFAC (collectively “OFAC Lists”), or a person
or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control Regulations,
31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. If the Investor
is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act
of 2001, and its implementing regulations (collectively, the “BSA/PATRIOT Act”), the Investor maintains policies and
procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. To the extent required, it maintains
policies and procedures reasonably designed for the screening of its investors against the OFAC sanctions programs, including the
OFAC List. To the extent required by applicable law, the Investor maintains policies and procedures reasonably designed to ensure
that the funds held by the Investor and used to purchase the Shares were legally derived.

 

p.
No foreign person (as defined in 31 C.F.R. Part 800.224) in which the national or subnational governments of a single foreign
state have a substantial interest (as defined in 31 C.F.R. Part 800.244) will acquire a substantial interest in Atlas as a result
of the purchase and sale of Shares hereunder such that a declaration to the Committee on Foreign Investment in the United States
would be mandatory under 31 C.F.R. Part 800.401, and no foreign person will have control (as defined in 31 C.F.R. Part 800.208)
over Atlas from and after the Closing as a result of the purchase and sale of Shares hereunder.

 

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q.
No disclosure or offering document has been prepared by Moelis & Company LLC or
any of their respective affiliates (collectively, the “Placement Agents”) in connection with the offer and sale of
the Shares.

 

r.  None
of the Placement Agents, nor any of its respective affiliates nor any control persons, officers, directors, employees,
partners, agents or representatives of any of the foregoing have made any independent investigation with respect to Atlas,
the Company or its subsidiaries or any of their respective businesses, or the Shares or the accuracy, completeness or
adequacy of any information supplied to the Investor by Atlas.

 

s.  In
connection with the issue and purchase of the Shares, none of the Placement Agents have acted as the Investor’s
financial advisor or fiduciary.

 

t.
The Investor has or has commitments to have and, when required to deliver payment
to Atlas pursuant to Section 2 above, will have, sufficient funds to pay the Subscription
Amount and consummate the purchase and sale of the Shares pursuant to this Subscription Agreement.

 

7.
Registration Rights.

 

a. In the event that
the Shares are not registered in connection with the consummation of the Transaction, Atlas agrees that, within thirty (30) calendar
days after the consummation of the Transaction, it will file with the SEC (at the its sole cost and expense) a registration statement
registering the resale of the Shares (the “Registration Statement”), and it shall use its commercially reasonable
efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but
no later than the earlier of (i) sixty (60) calendar days after the filing thereof (or one hundred and twenty (120) calendar
days after the filing thereof if the SEC notifies Atlas that it will “review” the Registration Statement) and
(ii) ten (10) business days after Atlas is notified (orally or in writing, whichever is earlier) by the SEC that the Registration
Statement will not be “reviewed” or will not be subject to further review. In connection with the foregoing,
Investor shall not be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction
on the ability to transfer the Shares. Atlas agrees to cause such Registration Statement, or another shelf registration statement
that includes the Shares to be sold pursuant to this Subscription Agreement, to remain effective until the earliest of (i) the
second anniversary of the Closing, (ii) the date on which the Investor ceases to hold any Shares issued pursuant to this Subscription
Agreement, or (iii) on the first date on which the Investor is able to sell all of its Shares issued pursuant to this Subscription
Agreement (or shares received in exchange therefor) under Rule 144 of the Securities Act within 90 days without limitation as
to the amount of such securities that may be sold or the manner in which they are sold. The Investor agrees to disclose its ownership
to Atlas upon request to assist it in making the determination described above. Atlas may amend the Registration Statement so
as to convert the Registration Statement to a Registration Statement on Form S-3 at such time after Atlas becomes eligible to
use such Form S-3. The Investor acknowledges and agrees that Atlas may suspend the use of any such registration statement if it
determines based on the advice of outside counsel that in order for such registration statement not to contain a material misstatement
or omission, an amendment thereto would be needed to include information that would at that time not otherwise be required in
a current, quarterly, or annual report under the Exchange Act; provided, that, (I) Atlas shall not so delay filing or so
suspend the use of the Registration Statement for a period of more than ninety (90) consecutive days or more than a total of one
hundred-twenty (120) calendar days in any three hundred sixty (360) day period and (II) Atlas shall use commercially reasonable
efforts to make such Registration Statement available for the sale by the Investor of such securities as soon as practicable thereafter.
Atlas’s obligations to include the Shares issued pursuant to this Subscription Agreement (or shares issued in exchange therefor)
for resale in the Registration Statement are contingent upon the Investor furnishing in writing to Atlas such information regarding
the Investor, the securities of Atlas held by the Investor and the intended method of disposition of such Shares, which shall
be limited to non-underwritten public offerings, as shall be reasonably requested by Atlas to effect the registration of such
Shares, and shall execute such documents in connection with such registration as Atlas may reasonably request that are customary
of a selling stockholder in similar situations.

 

    8 

     

    

 

b.
Atlas will provide a draft of the Registration Statement to the Investor for review at least two (2) business days in advance
of filing the Registration Statement. In no event shall the Investor be identified as a statutory underwriter in the Registration
Statement unless in response to a comment or request from the staff of the SEC or another regulatory agency; provided, however,
that if the SEC requests that the Investor be identified as a statutory underwriter in the Registration Statement, the Investor
will have an opportunity to withdraw from the Registration Statement.

 

c.  If
the SEC prevents Atlas from including any or all of the Shares proposed to be registered for resale under the Registration
Statement due to limitations on the use of Rule 415 of the Securities Act for the resale of the Shares by the applicable
shareholders or otherwise, (i) such Registration Statement shall register for resale such number of Shares which is equal to
the maximum number of Shares as is permitted by the SEC and (ii) the number of Shares to be registered for each selling
shareholder named in the Registration Statement shall be reduced pro rata among all such selling shareholders.

 

d.
Atlas shall advise the Investor within five (5) business days (at Atlas’s expense): (i) when a Registration Statement
or any post-effective amendment thereto has become effective; (ii) of any request by the SEC for amendments or supplements to any
Registration Statement or the prospectus included therein or for additional information; (iii) of the issuance by the SEC of any
stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; (iv)
of the receipt by Atlas of any notification with respect to the suspension of the qualification of the Shares included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and (v) subject to the provisions
in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement
or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required
to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances
under which they were made) not misleading (provided that any such notice pursuant to this Section 7(d)(v) shall solely provide
that the use of the Registration Statement or prospectus has been suspended without setting forth the reason for such suspension).
Atlas shall use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable. Upon the occurrence of any event contemplated in clauses (i) through (v) above, except
for such times as Atlas is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a registration
statement, Atlas shall use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment
to such registration statement or a supplement to the related prospectus, or file any other required document so that, as thereafter
delivered to purchasers of the Shares included therein, such prospectus will not include any untrue statement of a material fact
or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading. The Investor agrees that it will immediately discontinue offers and sales of the Shares using a Registration
Statement until the Investor receives copies of a supplemental or amended prospectus that corrects the misstatement(s) or omission(s)
referred to above in clause (v) and receives notice that any post-effective amendment has become effective or unless otherwise
notified by Atlas that it may resume such offers and sales. If so directed by Atlas, the Investor will deliver to Atlas or, in
the Investor’s sole discretion destroy, all copies of the prospectus covering the Shares in the Investor’s possession;
provided, however, that this obligation to deliver or destroy all copies of the prospectus covering the Shares shall not apply
(x) to the extent the Investor is required to retain a copy of such prospectus in order to comply with applicable legal, regulatory,
self-regulatory or professional requirements or in accordance with a bona fide pre-existing document retention policy or (y) to
copies stored electronically on archival servers as a result of automatic data back-up.

 

The Investor may
deliver written notice (an “Opt-Out Notice”) to Atlas requesting that the Investor not receive notices from Atlas otherwise
required by this Section 7; provided, however, that the Investor may later revoke any such Opt-Out Notice in writing. Following
receipt of an Opt-Out Notice from the Investor (unless subsequently revoked), (i) Atlas shall not deliver any such notices to the
Investor and the Investor shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to
the Investor’s intended use of an effective Registration Statement, the Investor will notify Atlas in writing at least two
(2) business days in advance of such intended use, and if a notice of regarding a suspension event was previously delivered (or
would have been delivered but for the provisions of this Section 7(d)) and the related suspension period remains in effect, Atlas
will so notify the Investor, within one (1) business day of the Investor’s notification to Atlas, by delivering to the Investor
a copy of such previous notice of the suspension event, and thereafter will provide the Investor with the related notice of the
conclusion of such suspension event promptly following its availability.

 

    9 

     

    

 

e.
 With a view to making available to the Investor the benefits of Rule 144 that may, at such times as Rule 144
is available to shareholders of the Company, permit the Investors to sell securities of the Company to the public without
registration, Atlas agrees to:

 

(i)   make
and keep public information available, as those terms are understood and defined in Rule 144;

 

(ii)   file
with the SEC in a timely manner all reports and other documents required of Atlas under the Securities Act and the Exchange Act
so long as Atlas remains subject to such requirements and the filing of such reports and other documents is required for the applicable
provisions of Rule 144; and

 

(iii) furnish
to the Investor so long as such Investor owns the Shares acquired hereunder, within two (2) business days following its receipt
of a written request, (A) a written statement by Atlas, if true, that it has complied with the reporting requirements of Rule 144,
the Securities Act and the Exchange Act, (B) a copy of the most recent annual or quarterly report of Atlas and such other reports
and documents so filed by Atlas (it being understood that the availability of such report on the SEC’s EDGAR system shall
satisfy this requirement) and (C) such other information as may be reasonably requested in writing to permit the Investor to sell
such securities pursuant to Rule 144 without registration.

 

f.  In
addition, in connection with any sale, assignment, transfer or other disposition of the Shares by the Investor pursuant to
Rule 144 or pursuant to any other exemption under the Securities Act such that the Shares held by the Investor become freely
tradable and upon compliance by the Investor with the requirements of this Subscription Agreement, if requested by the
Investor, Atlas shall cause the transfer agent for the Shares (the “Transfer Agent”) to remove any
restrictive legends related to the book entry account holding such Shares and make a new, unlegended entry for such book
entry Shares sold or disposed of without restrictive legends within two (2) trading days of any such request therefor from
the Investor, provided that Atlas and the Transfer Agent have timely received from the Investor customary representations and
other documentation reasonably acceptable to Atlas and the Transfer Agent in connection therewith. Subject to receipt from
the Investor by Atlas and the Transfer Agent of customary representations and other documentation reasonably acceptable to
Atlas and the Transfer Agent in connection therewith, including, if required by the Transfer Agent, an opinion of
Atlas’s counsel, in a form reasonably acceptable to the Transfer Agent, to the effect that the removal of such
restrictive legends in such circumstances may be effected under the Securities Act, the Investor may request that Atlas
remove any legend from the book entry position evidencing its Shares following the earliest of such time as such Shares (i)
(x) are subject to or (y) have been or are about to be sold or transferred pursuant to an effective registration statement,
(ii) have been or are about to be sold pursuant to Rule 144, or (iii) are eligible for resale under Rule 144(b)(1) or any
successor provision without the requirement for Atlas to be in compliance with the current public information requirement
under Rule 144 and without volume or manner-of-sale restrictions applicable to the sale or transfer of such Shares. If
restrictive legends are no longer required for such Shares pursuant to the foregoing, Atlas shall, in accordance with the
provisions of this Section 7(f) and within two (2) trading days of any request therefor from the Investor accompanied by such
customary and reasonably acceptable representations and other documentation referred to above establishing that restrictive
legends are no longer required, deliver to the Transfer Agent irrevocable instructions that the Transfer Agent shall make a
new, unlegended entry for such book entry Shares. Atlas shall be responsible for the fees of its Transfer Agent and all DTC
fees associated with such issuance.

 

g.
Indemnification

 

(i)
Atlas agrees to indemnify and hold harmless, to the extent permitted by law, the Investor, its directors, and officers,
managers, employees, and agents, and each person who controls the Investor (within the meaning of the Securities Act or the Exchange
Act) and each affiliate of the Investor (within the meaning of Rule 405 under the Securities Act) from and against any and all
out-of-pocket losses, claims, damages, liabilities and expenses (including, without limitation, any reasonable and documented attorneys’
fees and expenses incurred in connection with defending or investigating any such action or claim) caused by any untrue or alleged
untrue statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement or
preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained
in any information furnished in writing to Atlas by or on behalf of the Investor expressly for use therein.

 

    10 

     

    

 

(ii)
The Investor agrees, severally and not jointly with any person that is a party to the Other Subscription Agreements, to
indemnify and hold harmless Atlas, its directors and officers and agents and each person who controls Atlas (within the meaning
of the Securities Act) against any losses, claims, damages, liabilities and expenses (including, without limitation, reasonable
and documented attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration Statement,
prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement
or omission is contained in any information or affidavit so furnished in writing by or on behalf of the Investor expressly for
use therein. In no event shall the liability of the Investor be greater in amount than the dollar amount of the net proceeds received
by the Investor upon the sale of the Shares purchased pursuant to this Subscription Agreement giving rise to such indemnification
obligation.

 

(iii)
Any person entitled to indemnification herein shall (1) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (2) permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense
is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without
its consent. An indemnifying party who elects not to assume the defense of a claim shall not be obligated to pay the fees and expenses
of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable
judgment of legal counsel to any indemnified party a conflict of interest exists between such indemnified party and any other of
such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party,
consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money
(and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability
in respect to such claim or litigation.

 

(iv) The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer, director, employee, agent, affiliate or controlling
person of such indemnified party and shall survive the transfer of the Shares purchased pursuant to this Subscription Agreement.

 

(v)
 If the indemnification provided under this Section 7(g) from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, was made by, or relates to information supplied by or on behalf of, such indemnifying party or indemnified
party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity
to correct or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred
to above shall be deemed to include, subject to the limitations set forth above, any legal or other fees, charges or expenses reasonably
incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 7(g) from
any person who was not guilty of such fraudulent misrepresentation. Any contribution pursuant to this Section 7(g)(v) by any seller
of Shares shall be limited in amount to the amount of net proceeds received by such seller from the sale of such Shares pursuant
to the Registration Statement. Notwithstanding anything to the contrary herein, in no event will any party be liable for consequential,
special, exemplary or punitive damages in connection with this Subscription Agreement.

 

    11 

     

    

 

8. Termination.
This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations
of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier
to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with its terms without being consummated,
(b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) Atlas’s
notification to the Investor in writing that it has, with the prior written consent of the Company, abandoned its plans to move
forward with the Transaction and terminated the Investor’s obligations with respect to the subscription without the delivery
of the Shares having occurred, (d) October 10, 2021, if the Closing has not occurred by such date, or (e) if, at the election
of the party the obligations of which are subject to such conditions, any of the conditions to Closing set forth in Section 3
of this Subscription Agreement are not satisfied or waived, or are not capable of being satisfied, on or prior to the earlier
of the closing of the Transaction and the Outside Date and, as a result thereof, the transactions contemplated by this Subscription
Agreement will not be and are not consummated at the earlier of the closing of the Transaction and the Outside Date (the termination
events described in clauses (a)–(e) above, each a “Termination Event”); provided that nothing herein will relieve
any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any
remedies at law or in equity to recover losses, liabilities or damages arising from any such willful breach. Atlas shall notify
the Investor of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the occurrence
of any Termination Event, this Subscription Agreement shall be void and of no further effect and any monies paid by the Investor
to Atlas in connection herewith shall promptly (and in any event within one (1) business day) following the Termination Event
be returned to the Investor.

 

9. Trust Account
Waiver. The Investor acknowledges that Atlas is a blank check company with the powers and privileges to effect a merger, asset
acquisition, reorganization or similar business combination involving Atlas and one or more businesses or assets. The Investor
further acknowledges that, as described in Atlas’s prospectus relating to its initial public offering dated September 16,
2020 (the “Prospectus”) available at www.sec.gov, substantially all of Atlas’s
assets consist of the cash proceeds of Atlas’s initial public offering and private placement of its securities, and substantially
all of those proceeds have been deposited in a trust account (the “Trust Account”)
for the benefit of Atlas, its public shareholders and the underwriters of Atlas’s initial public offering. Except with respect
to interest earned on the funds held in the Trust Account that may be released to Atlas to pay its tax obligations, if any, the
cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of Atlas
entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably
waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held
in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription
Agreement; provided, however, that nothing in this Section 9 shall be deemed to limit
the Investor’s right, title, interest or claim to any monies held in the Trust Account by virtue of its record or beneficial
ownership of Atlas’s shares of Class A common stock currently outstanding on the date hereof, pursuant to a validly
exercised redemption right with respect to any such shares, except to the extent that the Investor has otherwise agreed with Atlas
to not exercise such redemption right.

 

10. Miscellaneous.

 

a.  Neither
this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired
hereunder, if any) may be transferred or assigned without the prior written consent of each of the other parties hereto;
provided that (i) this Subscription Agreement and any of the Investor's rights and obligations hereunder may be assigned to
one or more affiliates (as defined in Rule 12b-2 of the Exchange Act) or to investment funds or accounts managed or advised
by the investment manager who acts on behalf of the Investor, and (ii) the Investor's rights under Section 7 may be assigned
to an assignee or transferee of the Shares; provided further that prior to such assignment any such assignee shall agree in
writing to be bound by the terms hereof and complete Schedule A hereto; provided, that no assignment pursuant to clause (i)
of this Section 10 shall relieve the Investor of its obligations hereunder. Notwithstanding anything to the contrary in the
foregoing, Investor may transfer or assign any of its rights and obligations hereunder to Mesa Airlines, Inc. or Mesa Air
Group, Inc. (together, “Mesa”) or one or more of their respective affiliates (as defined in Rule 12b-2 of
the Exchange Act); provided that (i) the aggregate number of Shares transferred or assigned pursuant to the foregoing clause
hereunder and under any Other Subscription Agreement shall not exceed 500,000 Shares and (ii) such assignee or assignees, as
applicable, shall agree in writing to be bound by the terms hereof and complete Schedule A hereto.

 

    12 

     

    

 

b.
Atlas may request from the Investor such additional information as Atlas may reasonably deem necessary to register the resale
of the Shares and evaluate the eligibility of the Investor to acquire the Shares, and the Investor shall promptly provide such
information as may reasonably be requested to the extent readily available and to the extent consistent with its internal policies
and procedures; provided, that, the Atlas agrees to keep any such information provided by Investor confidential; except
(i) as necessary to include in any registration statement Atlas is required to file hereunder, (ii) as required by the federal
securities law or pursuant to other routine proceedings of regulatory authorities or (iii) to the extent such disclosure is required
by law, at the request of the staff of the SEC or regulatory agency or under the regulations of any national securities exchange
on which Atlas’s securities are listed for trading. The Investor acknowledges that Atlas may file a copy of this Subscription
Agreement with the SEC as an exhibit to a periodic report or a registration statement of Atlas.

 

c.  Each
party acknowledges that Atlas and others will rely on the acknowledgments, understandings, agreements, representations and
warranties of the Investor contained in this Subscription Agreement and that the Placement Agents will rely on the
representations and warranties of the Investor set forth in Section 6 of this Subscription Agreement. Atlas acknowledges that
the Investor will rely on the acknowledgments, understandings, agreements, representations and warranties of Atlas contained
in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify Atlas and the Placement Agents
if any of the acknowledgments, understandings, agreements, representations and warranties set forth in Section 6 above are no
longer accurate in any material respect (other than those acknowledgments, understandings, agreements, representations and
warranties qualified by materiality, in which case the Investor shall notify Atlas and the Placement Agents if they are no
longer accurate in any respect). The Investor acknowledges and agrees that each purchase by the Investor of Shares from Atlas
will constitute a reaffirmation of the acknowledgments, understandings, agreements, representations and warranties herein (as
modified by any such notice) by the Investor as of the time of such purchase.

 

d.
The Investor, Atlas and each of the Placement Agents is irrevocably authorized to produce this Subscription Agreement or
a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters
covered hereby; provided, however, that the foregoing clause of this Section 10(d) shall not give the Placement Agents
any rights other than those expressly set forth herein.

 

e.
All of the agreements, representations and warranties made by each party hereto in this Subscription Agreement
shall survive the Closing.

 

f.  The
Investor does not have, as of the date hereof, any “put equivalent position” as such term is defined in Rule
16a-1 under the Exchange Act or short sale positions with respect to the securities of Atlas. Notwithstanding the foregoing,
in the case of an Investor that is a multi-managed investment vehicle whereby separate portfolio managers manage separate
portions of such Investor’s assets and the portfolio managers have no direct knowledge of the investment decisions made
by the portfolio managers managing other portions of such Investor’s assets, the representation set forth above shall
only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to
purchase the Shares covered by this Subscription Agreement.

 

g.
This Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8 above)
except by an instrument in writing, signed by each of the parties hereto, provided, however, that no modification
or waiver by Atlas of the provisions of this Subscription Agreement shall be effective without the prior written consent of the
Company (other than modifications or waivers that are solely ministerial in nature or otherwise immaterial and do not affect any
economic or any other material term of this Subscription Agreement). No failure or delay of either party in exercising any right
or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or
any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further
exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereunder are cumulative and
are not exclusive of any rights or remedies that they would otherwise have hereunder.

 

    13 

     

    

 

h.
This Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior
agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject
matter hereof. Except as set forth in Section 8, Section 10(c), Section 10(d), Section 10(g), this Section 10(h), the last sentence
of Section 10(l) and Section 11 with respect to the persons specifically referenced therein, this Subscription Agreement shall
not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns, and
the parties hereto acknowledge that such persons so referenced are third party beneficiaries of this Subscription Agreement for
the purposes of, and to the extent of, the rights granted to them, if any, pursuant to the applicable provisions.

 

i.
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the
parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements,
representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon,
such heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

j.
If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid,
illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall
not in any way be affected or impaired thereby and shall continue in full force and effect.

 

k.
This Subscription Agreement may be executed in one or more counterparts (including by facsimile or electronic mail or in
..pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document.
All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement.

 

l.
The parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of
this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without
posting a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription
Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or
otherwise.

 

m.
This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware (regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof) as to
all matters (including any action, suit, litigation, arbitration, mediation, claim, charge, complaint, inquiry, proceeding,
hearing, audit, investigation or reviews by or before any governmental entity related hereto), including matters of validity,
construction, effect, performance and remedies

 

n.
Each party hereto hereby and any person asserting rights as a third party beneficiary may do so only if he, she or it irrevocably
agrees that any action, suit or proceeding between or among the parties hereto, whether arising in contract, tort or otherwise,
arising in connection with any disagreement, dispute, controversy or claim arising out of or relating to this Subscription Agreement
or any related document or any of the transactions contemplated hereby or thereby (“Legal Dispute”) shall be
brought only to the exclusive jurisdiction of the courts of the State of Delaware or the federal courts located in the State of
Delaware, and each party hereto hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom)
in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may
now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit,
action or proceeding that is brought in any such court has been brought in an inconvenient forum. During the period a Legal Dispute
that is filed in accordance with this Section 10(n) is pending before a court, all actions, suits or proceedings with respect to
such Legal Dispute or any other Legal Dispute, including any counterclaim, cross-claim or interpleader, shall be subject to the
exclusive jurisdiction of such court. Each party hereto and any person asserting rights as a third party beneficiary may do so
only if he, she or it hereby waives, and shall not assert as a defense in any Legal Dispute, that (a) such party is not personally
subject to the jurisdiction of the above named courts for any reason, (b) such action, suit or proceeding may not be brought
or is not maintainable in such court, (c) such party’s property is exempt or immune from execution, (d) such action,
suit or proceeding is brought in an inconvenient forum, or (e) the venue of such action, suit or proceeding is improper. A
final judgment in any action, suit or proceeding described in this Section 10(n) following the expiration of any period permitted
for appeal and subject to any stay during appeal shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by applicable Laws. EACH OF THE PARTIES HERETO AND ANY PERSON ASSERTING RIGHTS AS A THIRD
PARTY BENEFICIARY MAY DO SO ONLY IF HE, SHE OR IT IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS
OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
AND FOR ANY COUNTERCLAIM RELATING THERETO. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL
IS PROHIBITED, NO PARTY HERETO NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL ASSERT IN SUCH LEGAL DISPUTE
A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
FURTHERMORE, NO PARTY HERETO NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL SEEK TO CONSOLIDATE ANY SUCH LEGAL
DISPUTE WITH A SEPARATE ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED.

 

    14 

     

    

 

11. Non-Reliance
and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation
or warranty made by any person, firm or corporation (including, without limitation, the
Placement Agents, any of their respective affiliates or any control persons, officers, directors, employees, partners,
agents or representatives of any of the foregoing), other than the statements, representations and warranties of Atlas expressly
contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in Atlas. The Investor acknowledges
and agrees that none of (i) any other investor pursuant to this Subscription Agreement or any other subscription agreement related
to the private placement of the Shares (including the investor’s respective affiliates or any control persons, officers,
directors, employees, partners, agents or representatives of any of the foregoing), (ii) the
Placement Agents, their respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives
of any of the foregoing, or (iii) any other party to the Transaction Agreement or any Non-Party Affiliate (other than Atlas
with respect to the previous sentence), shall have any liability to the Investor, or to any other investor, pursuant to, arising
out of or relating to this Subscription Agreement or any other subscription agreement related to the private placement of the
Shares, the negotiation hereof or thereof or its subject matter, or the transactions contemplated hereby or thereby, including,
without limitation, with respect to any action heretofore or hereafter taken or omitted to be taken by any of them in connection
with the purchase of the Shares or with respect to any claim (whether in tort, contract or otherwise) for breach of this Subscription
Agreement or in respect of any written or oral representations made or alleged to be made in connection herewith, as expressly
provided herein, or for any actual or alleged inaccuracies, misstatements or omissions with respect to any information or materials
of any kind furnished by Atlas, the Company, the Placement Agents or any Non-Party Affiliate concerning Atlas, the Company, the
Placement Agents, any of their controlled affiliates, this Subscription Agreement or the transactions contemplated hereby. For
purposes of this Subscription Agreement, “Non-Party Affiliates” means each former, current or future officer, director,
employee, partner, member, manager, direct or indirect equityholder or affiliate of Atlas, the Company, any Placement Agent or
any of Atlas’s, the Company’s or any Placement Agent’s controlled affiliates or any family member of the foregoing.

 

12.
Disclosure. Atlas shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date
of this Subscription Agreement, issue one or more press releases or file with the SEC a Current Report on Form 8-K (collectively,
the “Disclosure Document”) disclosing all material terms of the transactions contemplated hereby and by the Other
Subscription Agreements, the Transaction and any other material, nonpublic information that Atlas has provided to the Investor
at any time prior to the filing of the Disclosure Document. Upon the issuance of the Disclosure Document, to the actual knowledge
of Atlas, the Investor shall not be in possession of any material, non-public information received from Atlas or any
of its officers, directors, or employees or agents, and the Investor shall no longer be subject to any confidentiality or similar
obligations under any current agreement, whether written or oral, with Atlas or any of its affiliates, relating to the transactions
contemplated by this Subscription Agreement. Notwithstanding anything in this Subscription Agreement to the contrary, Atlas shall
not publicly disclose the name of the Investor or any of its affiliates or advisers, or include the name of the Investor or any
of its affiliates or advisers in any press release or in any filing with the SEC or any regulatory agency or trading market, without
the prior written consent of the Investor, except (i) as required by the federal securities law or pursuant to other routine
proceedings of regulatory authorities, (ii) to the extent such disclosure is required by law, at the request of the staff
of the SEC or regulatory agency or under the regulations of any national securities exchange on which Atlas’s securities
are listed for trading or (iii) to the extent such announcements or other communications contain only information previously
disclosed in a public statement, press release or other communication previously approved in accordance with this Section
12, in which case for clauses (i)-(iii), Atlas shall provide the Investor with prior written notice of such disclosure permitted
under hereunder.

 

13. Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or telecopied,
sent by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall
be deemed to be given and received (i) when so delivered personally, (ii) upon receipt of an appropriate electronic answerback
or confirmation when so delivered by telecopy (to such number specified below or another number or numbers as such person may
subsequently designate by notice given hereunder), (iii) when sent, with no mail undeliverable or other rejection notice, if sent
by email, or (iv) five (5) business days after the date of mailing to the address below or to such other address or addresses
as such person may hereafter designate by notice given hereunder, to the address or addresses set forth on the signature pages
hereto.

 

[SIGNATURE PAGES FOLLOW]

 

    15 

     

    

 

IN WITNESS WHEREOF,
the Investor has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the
date set forth below.

 

	Name of Investor:	 	State/Country of Formation or Domicile:
	 	 	 	 
	By:  	 	 	 
	Name:  	 	 	 
	Title:  	 	 	 

 

	Name in which Shares are to be registered (if different):	 	Date: ________, 2021
	 	 	 
	Investor’s EIN:	 	 
	 	 	 
	Business Address-Street:	 	Mailing Address-Street (if different):
	 	 	 
	City, State, Zip:	 	City, State, Zip:

 

	Attn: 	 	 	Attn:	 

 

	Telephone No.:	 	Telephone No.:
	Facsimile No.:	 	Facsimile No.:

 

	Number of Shares subscribed for:	 	 
	 	 	 
	Aggregate Subscription Amount: $	 	Price Per Share: $10.00

 

You must pay the Subscription
Amount by wire transfer of United States dollars in immediately available funds to the account specified by Atlas in the Closing
Notice.

 

     

     

    

 

IN WITNESS WHEREOF,
Atlas has accepted this Subscription Agreement as of the date set forth below.

 

	 	ATLAS CREST INVESTMENT CORP.
	 	 	 
	 	By:	/s/ Michael Spellacy
	 	Name:	Michael Spellacy
	 	Title:	Chief Executive Officer
	 	 	 
	Date:               , 2021		

 

     

     

    

 

SCHEDULE A

 

ELIGIBILITY
REPRESENTATIONS OF THE INVESTOR

 

	A.	QUALIFIED INSTITUTIONAL BUYER STATUS

	 	(Please check the applicable subparagraphs):

 

☐ We
are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act (a “QIB”)).

 

	B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

	 	(Please check the applicable subparagraphs):

 

	 	1.	☐ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act), and have marked and initialed the appropriate box on the following page indicating the provision under which we qualify as an “accredited investor.”

 

		2.	☐
We are not a natural person.

 

Rule 501(a), in relevant part, states
that an “accredited investor” shall mean any person who comes within any of the below listed categories, or who the
issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person.
The Investor has indicated, by marking and initialing the appropriate box below, the provision(s) below which apply to the Investor
and under which the Investor accordingly qualifies as an “accredited investor.”

 

☐ Any
bank, registered broker or dealer, insurance company, registered investment company, business development company, or small business
investment company;

 

☐ Any
plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000;

 

☐ Any
employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance company,
or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000;

 

☐ Any
organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, similar business trust, or partnership,
not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;

 

☐ Any
trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed by a sophisticated
person; or

 

☐ Any
entity in which all of the equity owners are accredited investors meeting one or more of the above tests.

 

This page
should be completed by the Investor

and constitutes
a part of the Subscription Agreement.Exhibit 4.1

 

 

SMILEDIRECTCLUB, INC.

  

and

 

WILMINGTON TRUST, NATIONAL ASSOCIATION

 

as Trustee

 

 

 

INDENTURE

 

Dated as of February 9, 2021

 

 

 

0.00% Convertible Senior Notes due 2026

  

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	Article 1.   Definitions; Rules of Construction	1
	Section 1.01.   Definitions	1
	Section 1.02.   Other Definitions	13
	Section 1.03.   Rules of Construction	14
	Article 2.   The Notes	14
	Section 2.01.   Form, Dating and Denominations	14
	Section 2.02.   Execution, Authentication and Delivery	15
	Section 2.03.   Initial Notes and Additional Notes	16
	Section 2.04.   Method of Payment	16
	Section 2.05.   No Regular Interest; Defaulted Amounts; When Payment Date is Not a Business Day	17
	Section 2.06.   Registrar, Paying Agent and Conversion Agent	17
	Section 2.07.   Paying Agent and Conversion Agent to Hold Property in Trust	18
	Section 2.08.   Holder Lists	19
	Section 2.09.   Legends	19
	Section 2.10.   Transfers and Exchanges; Certain Transfer Restrictions	20
	Section 2.11.   Exchange and Cancellation of Notes to Be Converted or to Be Repurchased Pursuant to a Repurchase
Upon Fundamental Change or Redemption	24
	Section 2.12.   Removal of Transfer Restrictions	25
	Section 2.13.   Replacement Notes	26
	Section 2.14.   Registered Holders; Certain Rights with Respect to Global Notes	26
	Section 2.15.   Cancellation	26
	Section 2.16.   Notes Held by the Company or its Affiliates	27
	Section 2.17.   Temporary Notes	27
	Section 2.18.   Outstanding Notes	27
	Section 2.19.   Repurchases by the Company	28
	Section 2.20.   CUSIP and ISIN Numbers	28
	Article 3.   Covenants	28
	Section 3.01.   Payment on Notes	28
	Section 3.02.   Exchange Act Reports	29
	Section 3.03.   Rule 144A Information	29
	Section 3.04.   Special Interest	29
	Section 3.05.   Compliance and Default Certificates	30
	Section 3.06.   Stay, Extension and Usury Laws	31
	Section 3.07.   Acquisition of Notes by the Company and its Affiliates	31
	Article 4.   Repurchase and Redemption	31
	Section 4.01.   No Sinking Fund	31

 

    - i -

     

    

 

	Section 4.02.   Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change	31
	Section 4.03.   Right of the Company to Redeem the Notes	36
	Article 5.   Conversion	39
	Section 5.01.   Right to Convert	39
	Section 5.02.   Conversion Procedures	42
	Section 5.03.   Settlement upon Conversion	44
	Section 5.04.   Shares to be Fully Paid	48
	Section 5.05.   Adjustments to the Conversion Rate	48
	Section 5.06.   Voluntary Adjustments	58
	Section 5.07.   Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change	58
	Section
    5.08.   [Reserved.]	60
	Section 5.09.   Effect of Common Stock Change Event	60
	Section 5.10.   Responsibility of Trustee and Conversion Agent	62
	Article 6.   Successors	62
	Section 6.01.   When the Company May Merge, Etc.	62
	Section 6.02.   Successor Corporation Substituted	63
	Article 7.   Defaults and Remedies	63
	Section 7.01.   Events of Default	63
	Section 7.02.   Acceleration	65
	Section 7.03.   Sole Remedy for a Failure to Report	65
	Section 7.04.   Other Remedies	67
	Section 7.05.   Waiver of Past Defaults	67
	Section 7.06.   Control by Majority	67
	Section 7.07.   Limitation on Suits	67
	Section 7.08.   Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment
and Conversion Consideration	68
	Section 7.09.   Collection Suit by Trustee	68
	Section 7.10.   Trustee May File Proofs of Claim	68
	Section 7.11.   Priorities	69
	Section 7.12.   Undertaking for Costs	69
	Article 8.   Amendments, Supplements and Waivers	70
	Section 8.01.   Without the Consent of Holders	70
	Section 8.02.   With the Consent of Holders	71
	Section 8.03.   Notice of Amendments, Supplements and Waivers	72
	Section 8.04.   Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc.	72
	Section 8.05.   Notations and Exchanges	72
	Section 8.06.   Trustee to Execute Supplemental Indentures	73
	Article 9.   Satisfaction and Discharge	73
	Section 9.01.   Termination of Company’s Obligations	73
	Section 9.02.   Repayment to Company	74

 

    - ii -

     

    

 

	Section 9.03.   Reinstatement	74
	Article 10.   Trustee	74
	Section 10.01.   Duties of the Trustee	74
	Section 10.02.   Rights of the Trustee	75
	Section 10.03.   Individual Rights of the Trustee	76
	Section 10.04.   Trustee’s Disclaimer	77
	Section 10.05.   Notice of Defaults	77
	Section 10.06.   Compensation and Indemnity	77
	Section 10.07.   Replacement of the Trustee	78
	Section 10.08.   Successor Trustee by Merger, Etc.	79
	Section 10.09.   Eligibility; Disqualification	79
	Article 11.   Miscellaneous	79
	Section 11.01.   Notices	79
	Section 11.02.   Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions Precedent	81
	Section 11.03.   Statements Required in Officer’s Certificate and Opinion of Counsel	82
	Section 11.04.   Rules by the Trustee, the Registrar and the Paying Agent	82
	Section 11.05.   No Personal Liability of Directors, Officers, Employees and Stockholders	82
	Section 11.06.   Governing Law; Waiver of Jury Trial	82
	Section 11.07.   Submission to Jurisdiction	83
	Section 11.08.   No Adverse Interpretation of Other Agreements	83
	Section 11.09.   Successors	83
	Section 11.10.   Force Majeure	83
	Section 11.11.   U.S.A. PATRIOT Act	83
	Section 11.12.   Calculations	84
	Section 11.13.   Severability; Entire Agreement	84
	Section 11.14.   Counterparts	84
	Section 11.15.   Table of Contents, Headings, Etc.	84
	Section 11.16.   Withholding Taxes	84

 

Exhibits

 

	Exhibit A: Form of Note	A-1
	Exhibit B-1: Form of Restricted Note Legend	B1-1
	Exhibit B-2: Form of Global Note Legend	B2-1
	Exhibit B-3: Form of Non-Affiliate Legend	B3-1

  

    - iii -

     

    

 

INDENTURE,
dated as of February 9, 2021, between SmileDirectClub, Inc., a Delaware corporation, as issuer (the “Company”),
and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”).

 

Each party to this
Indenture (as defined below) agrees as follows for the benefit of the other party and for the equal and ratable benefit of the
Holders (as defined below) of the Company’s 0.00% Convertible Senior Notes due 2026 (the “Notes”).

 

Article
1.         Definitions;
Rules of Construction

 

Section 1.01.    
Definitions.

 

“Affiliate”
has the meaning set forth in Rule 144 as in effect on the Issue Date.

 

“Affiliated
Party” means, with respect to any natural person, (i) any company, partnership, trust or other entity for which such
natural person (or such natural person’s estate) has dispositive or voting power with respect to any of our common equity
held by such company, partnership, trust or other entity; (ii) any trust the beneficiaries of which consist solely of such natural
person, any Family Member of such natural person or any person described in clause (i); (iii) the trustees, legal representatives,
beneficiaries or beneficial owners (in each case, solely in such capacity and not in their individual or other capacities) of any
such company, partnership, trust or other entity referred to in clause (i) or (ii); (iv) the estates of such natural person (it
being understood, for the avoidance of doubt, that this clause (iv) will not include any person to whom any securities are transferred
from any such estate); and (v) the Family Members of such natural person.

 

“Authorized
Denomination” means, with respect to a Note, a principal amount minimum denomination equal to $1,000 or any integral
multiple of $1,000 in excess thereof.

 

“Bankruptcy
Law” means Title 11, United States Code, or any similar U.S. federal or state or non-U.S. law for the relief of debtors.

 

“Bid Solicitation
Agent” means the Person who is required to obtain bids for the Trading Price in accordance with Section 5.01(C)(i)(2)
and the definition of “Trading Price.” The initial Bid Solicitation Agent on the Issue Date will be the Company; provided,
however, that the Company may appoint any other Person (including any of the Company’s Subsidiaries) to be the Bid
Solicitation Agent at any time after the Issue Date without prior notice.

 

“Board of
Directors” means the board of directors of the Company or a committee of such board duly authorized to act on behalf
of such board.

 

“Business
Day” means any day other than a Saturday, a Sunday or any day on which banking institutions or trust companies in
the City of New York, New York or the Corporate Trust Office of the Trustee are authorized or obligated by law, regulation or
executive order to close or be closed.

 

“Capital
Stock” of any Person means any and all shares of, interests in, rights to purchase, warrants or options for,
participations in, or other equivalents of, in each case however designated, the equity of such Person, but excluding any
debt securities convertible into such equity.

 

    - 1 - 

     

    

 

“Class B Common
Stock” means the Class B common stock of the Company, par value $0.0001 per share, at the date of this Indenture.

 

“Close of
Business” means 5:00 p.m., New York City time.

 

“Common Stock”
means the Class A common stock of the Company, par value $0.0001 per share, at the date of this Indenture, subject to Section
5.09.

 

“Company”
means the Person named as such in the first paragraph of this Indenture and, subject to Article 6, its successors and assigns.

 

“Company Order”
means a written request or order signed on behalf of the Company by one (1) of its Officers and delivered to the Trustee.

 

“Conversion
Date” means, with respect to a Note, the first Business Day on which the requirements set forth in Section 5.02(A)
to convert such Note are satisfied, subject to Section 5.03(C).

 

“Conversion
Price” means, as of any time, an amount equal to (A) one thousand dollars ($1,000) divided by (B) the Conversion
Rate in effect at such time.

 

“Conversion
Rate” initially means 55.3710 shares of Common Stock per $1,000 principal amount of Notes; provided, however,
that the Conversion Rate is subject to adjustment pursuant to Article 5, rounded to the nearest ten thousandth; provided,
further, that whenever this Indenture refers to the Conversion Rate as of a particular date without setting forth a particular
time on such date, such reference will be deemed to be to the Conversion Rate immediately after the Close of Business on such date.

 

“Conversion
Share” means any share of Common Stock issued or issuable upon conversion of any Note.

 

“Corporate
Trust Office” means the office of the Trustee at which at any particular time this Indenture shall be principally administered,
which office at the date hereof is located at Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, Attention: SmileDirectClub,
Inc. Administrator, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company,
or the principal corporate trust office of any successor trustee (or such other address as such successor trustee may designate
from time to time by notice to the holders and the Company).

 

“Daily Cash
Amount” means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily Maximum Cash Amount; and
(B) the Daily Conversion Value for such VWAP Trading Day.

 

“Daily
Conversion Value” means, with respect to any VWAP Trading Day, one-fortieth (1/40th) of the product of (A) the
Conversion Rate on such VWAP Trading Day; and (B) the Daily VWAP per share of Common Stock on such VWAP Trading Day.

 

    - 2 - 

     

    

 

“Daily Maximum
Cash Amount” means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar
Amount applicable to such conversion by (B) forty (40).

 

“Daily Share
Amount” means, with respect to any VWAP Trading Day, the quotient obtained by dividing (A) the excess, if any, of the
Daily Conversion Value for such VWAP Trading Day over the applicable Daily Maximum Cash Amount by (B) the Daily VWAP for such VWAP
Trading Day. For the avoidance of doubt, the Daily Share Amount will be zero for such VWAP Trading Day if such Daily Conversion
Value does not exceed such Daily Maximum Cash Amount.

 

“Daily VWAP”
means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading
 “Bloomberg VWAP” on Bloomberg page “SDC <EQUITY> AQR” (or, if such page is not available, its equivalent
successor page) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary
trading session on such VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one share
of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average price method, by a nationally recognized
independent investment banking firm selected by the Company, which may include any of the Initial Purchasers). The Daily VWAP will
be determined without regard to after-hours trading or any other trading outside of the regular trading session.

 

“De-Legending
Deadline Date” means, with respect to any Note, the Free Trade Date of such Note; provided, however, that
if such Free Trade Date is after a Special Interest Record Date and on or before the next Special Interest Payment Date, then the
De-Legending Deadline Date for such Note will instead be the Business Day immediately after such Special Interest Payment Date.

 

“Default”
means any event that is (or, after notice, passage of time or both, would be) an Event of Default.

 

“Default Settlement
Method” means, initially, Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount
of Notes; provided, however, that (x) subject to Section 5.03(A)(iii), the Company may, from time to time,
change the Default Settlement Method by sending written notice of the new Default Settlement Method to the Holders, the Trustee
and the Conversion Agent (if other than the Trustee) (it being understood that no such change will affect any Settlement Method
theretofore elected (or deemed to be elected) with respect to any Note pursuant to this Indenture); and (y) the Default Settlement
Method will be subject to Section 5.03(A)(ii).

 

“Depositary”
means The Depository Trust Company or its successor.

 

“Depositary
Participant” means any member of, or participant in, the Depositary.

 

“Depositary
Procedures” means, with respect to any conversion, transfer, exchange or transaction involving a Global Note or any
beneficial interest therein, the rules and procedures of the Depositary applicable to such conversion, transfer, exchange or
transaction.

 

    - 3 - 

     

    

 

“Ex-Dividend
Date” means, with respect to an issuance, dividend or distribution on the Common Stock, 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 such issuance,
dividend or distribution (including pursuant to due bills or similar arrangements required by the relevant stock exchange). For
the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock
under a separate ticker symbol or CUSIP number will not be considered “regular way” for this purpose.

 

“Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempted
Fundamental Change” means any Fundamental Change with respect to which, in accordance with Section 4.02(I), the
Company does not offer to repurchase any Notes.

 

“Family Member”
means, with respect to any individual, any other individual having a relationship by blood (to the second degree of consanguinity),
marriage (including former spouses), domestic partnership (including former domestic partners) or adoption to such individual.

 

“Free Trade
Date” means, with respect to any Note, the date that is one (1) year after the Last Original Issue Date of such Note.

 

“Freely Tradable”
means, with respect to any Note, that such Note would be eligible to be offered, sold or otherwise transferred pursuant to Rule
144 or otherwise if held by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of the Company
during the immediately preceding three (3) months, without any requirements as to volume, manner of sale, availability of current
public information or notice under the Securities Act (except that, during the six (6) month period beginning on, and including,
the date that is six (6) months after the Last Original Issue Date of such Note, any such requirement as to the availability of
current public information will be disregarded if the same is satisfied at that time); provided, however, that from
and after the Free Trade Date of such Note, such Note will not be “Freely Tradable” unless such Note (x) is not identified
by a “restricted” CUSIP or ISIN number; and (y) is not represented by any certificate that bears the Restricted Note
Legend. For the avoidance of doubt, whether a Note is deemed to be identified by a “restricted” CUSIP or ISIN number
or to bear the Restricted Note Legend is subject to Section 2.12.

 

“Fundamental
Change” means any of the following events:

 

(A)       (i)
a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act), other than the
Company or its Wholly Owned Subsidiaries, or their respective employee benefit plans or any Permitted Party, has become the
direct or indirect “beneficial owner” (as defined below) of shares of the common equity representing more than
fifty percent (50%) of the voting power of all classes of the Company’s then outstanding common equity; or (ii) a
 “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) has become the
direct or indirect “beneficial owner” (as defined below) of more than 50% of the outstanding shares of the Common
Stock (excluding, solely for purposes of clause (ii), any of the Common Stock that such “person” or
 “group”, as applicable, beneficially owns solely by virtue of its beneficial ownership of the Class B Common
Stock);

 

    - 4 - 

     

    

 

(B)       the
consummation of (i) any sale, lease or other transfer, in one transaction or a series of related transactions, of all or substantially
all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person, other than solely to one or more of the
Company’s Wholly Owned Subsidiaries; or (ii) any transaction or series of related transactions in connection with which (whether
by means of merger, consolidation, share exchange, combination, reclassification, recapitalization, acquisition, liquidation or
otherwise) all of the Common Stock is exchanged for, converted into, acquired for, or constitutes solely the right to receive,
other securities, cash or other property; provided, however, that any merger, consolidation, share exchange or combination
of the Company pursuant to which the Persons that directly or indirectly “beneficially owned” (as defined below) all
classes of the Company’s common equity immediately before such transaction directly or indirectly “beneficially own,”
immediately after such transaction, more than fifty percent (50%) of all classes of common equity of the surviving, continuing
or acquiring company or other transferee, as applicable, or the parent thereof, in substantially the same proportions vis-à-vis
each other as immediately before such transaction will be deemed not to be a Fundamental Change pursuant to this clause (B);

 

(C)       the
Company’s stockholders approve any plan or proposal for the liquidation or dissolution of the Company; or

 

(D)       the
Common Stock ceases to be listed on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market
(or any of their respective successors);

 

provided, however, that a
transaction or event described in clause (A) or (B) above will not constitute a Fundamental Change if at least ninety percent
(90%) of the consideration received or to be received by the holders of Common Stock (excluding cash payments for fractional shares
or pursuant to dissenters rights), in connection with such transaction or event, consists of shares of common stock listed on any
of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors),
or that will be so listed when issued or exchanged in connection with such transaction or event, and such transaction or event
constitutes a Common Stock Change Event whose Reference Property consists of such consideration.

 

For the purposes of
this definition, (x) any transaction or event described in both clause (A) and in clause (B)(i) or (ii) above
(without regard to the proviso in clause (B)) will be deemed to occur solely pursuant to clause (B) above (subject
to such proviso); and (y) whether a Person is a “beneficial owner” and whether shares are “beneficially
owned” will be determined in accordance with Rule 13d-3 under the Exchange Act.

 

“Fundamental
Change Repurchase Date” means the date fixed for the repurchase of any Notes by the Company pursuant to a
Repurchase Upon Fundamental Change, which must be a Business Day that is no more than 35, nor less than 20, Business Days
after the date the Company sends the Fundamental Change Repurchase Notice.

 

    - 5 - 

     

    

 

“Fundamental
Change Repurchase Notice” means a notice (including a notice substantially in the form of the “Fundamental Change
Repurchase Notice” set forth in Exhibit A) containing the information, or otherwise complying with the requirements,
set forth in Section 4.02(F)(i) and Section 4.02(F)(ii).

 

“Fundamental
Change Repurchase Price” means the cash price payable by the Company to repurchase any Note upon its Repurchase Upon
Fundamental Change, calculated pursuant to Section 4.02(D).

 

“Global Note”
means a Note that is represented by a certificate substantially in the form set forth in Exhibit A, registered in the name
of the Depositary or Cede & Co., as its nominee, duly executed by the Company and authenticated by the Trustee, and deposited
with the Trustee, as custodian for the Depositary.

 

“Global Note
Legend” means a legend substantially in the form set forth in Exhibit B-2.

 

“Holder”
means a person in whose name a Note is registered on the Registrar’s books.

 

“Indenture”
means this Indenture, as amended or supplemented from time to time.

 

“Initial Purchasers”
means J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

 

“Issue Date”
means February 9, 2021.

 

“Last
Original Issue Date” means (A) with respect to any Notes issued pursuant to the Purchase Agreement (including any
Notes issued pursuant to the exercise of the Shoe Option by the Initial Purchasers), and any Notes issued in exchange
therefor or in substitution thereof, the later of (i) the Issue Date and (ii) the last date any Notes are originally issued
pursuant to the exercise of the Shoe Option , and any Notes issued in exchange therefor or in substitution thereof, the Issue
Date; and (B) with respect to any Notes issued pursuant to Section 2.03(B), and any Notes issued in exchange therefor
or in substitution thereof, either (i) the later of (x) the date such Notes are originally issued and (y) the last date any
Notes are originally issued as part of the same offering pursuant to the exercise of an option granted to the initial
purchaser(s) of such Notes to purchase additional Notes; or (ii) such other date as is specified in an Officer’s
Certificate delivered to the Trustee before the original issuance of such Notes.

 

    - 6 - 

     

    

 

“Last
Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share (or, if no
closing sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in
either case, the average of the average last bid prices and the average last ask prices per share) of Common Stock on such
Trading Day as reported in composite transactions for the principal U.S. national or regional securities exchange on which
the Common Stock is then listed. If the Common Stock is not listed on a U.S. national or regional securities exchange on such
Trading Day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on such Trading
Day in the over-the-counter market as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is
not so quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last bid
price and the last ask price per share of Common Stock on such Trading Day from each of at least three (3) nationally
recognized independent investment banking firms selected by the Company, which may include any of the Initial Purchasers.
Neither the Trustee nor the Conversion Agent will have any duty to determine the Last Reported Sale Price. The Last Reported
Sale Price will be determined without regard to after-hours trading or any other trading outside of the regular trading
session hours.

 

“Make-Whole
Fundamental Change” means (A) a Fundamental Change (determined after giving effect to the proviso immediately after clause
(D) of the definition thereof, but without regard to the proviso to clause (B)(ii) of such definition); or (B) the sending
of a Redemption Notice pursuant to Section 4.03(F); provided, however, that, subject to Section 4.03(I),
the sending of a Redemption Notice will constitute a Make-Whole Fundamental Change only with respect to the Notes called (or deemed
to be called pursuant to Section 4.03) for Redemption pursuant to such Redemption Notice and not with respect to any other
Notes.

 

“Make-Whole
Fundamental Change Conversion Period” has the following meaning:

 

(A)       in
the case of a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the period from, and including,
the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change to, and including, the thirty fifth (35th)
Trading Day after such Make-Whole Fundamental Change Effective Date (or, if such Make-Whole Fundamental Change also constitutes
a Fundamental Change (other than an Exempted Fundamental Change), to, but excluding, the related Fundamental Change Repurchase
Date); and

 

(B)       in
the case of a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the period from, and including,
the Redemption Notice Date for the related Redemption to, and including, the second (2nd) Business Day immediately before the related
Redemption Date;

 

provided, however, that if
the Conversion Date for the conversion of a Note that has been called (or deemed, pursuant to Section 4.03(I), to be called)
for Redemption occurs during the Make-Whole Fundamental Change Conversion Period for both a Make-Whole Fundamental Change occurring
pursuant to clause (A) of the definition of “Make-Whole Fundamental Change” and a Make-Whole Fundamental Change
resulting from such Redemption pursuant to clause (B) of such definition, then, notwithstanding anything to the contrary
in Section 5.07, solely for purposes of such conversion, (x) such Conversion Date will be deemed to occur solely during
the Make-Whole Fundamental Change Conversion Period for the Make-Whole Fundamental Change with the earlier Make-Whole Fundamental
Change Effective Date; and (y) the Make-Whole Fundamental Change with the later Make-Whole Fundamental Change Effective Date will
be deemed not to have occurred.

 

“Make-Whole
Fundamental Change Effective Date” means (A) with respect to a Make-Whole Fundamental Change pursuant to clause
(A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B)
with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the applicable
Redemption Notice Date.

 

    - 7 - 

     

    

 

“Market Disruption
Event” means, with respect to any date, the occurrence or existence, during the one-half hour period ending at the scheduled
close of trading on such date on the principal U.S. national or regional securities exchange or other market on which the Common
Stock is listed for trading or trades, of any material suspension or limitation imposed on trading (by reason of movements in price
exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options contracts or futures contracts
relating to the Common Stock.

 

“Maturity
Date” means February 1, 2026.

 

“Non-Affiliate
Legend” means a legend substantially in the form set forth in Exhibit B-3.

 

“Note Agent”
means any Registrar, Paying Agent or Conversion Agent.

 

“Notes”
means the 0.00% Convertible Senior Notes due 2026 issued by the Company pursuant to this Indenture.

 

“Observation
Period” means, with respect to any Note to be converted, (A) subject to clause (B) below, if the Conversion Date
for such Note occurs on or before August 1, 2025, the forty (40) consecutive VWAP Trading Days beginning on, and including, the
third (3rd) VWAP Trading Day immediately after such Conversion Date; and (B) if such Conversion Date occurs on or after the date
the Company has sent a Redemption Notice calling such Note for Redemption pursuant to Section 4.03(F) and on or before the
second (2nd) Business Day before the related Redemption Date, the forty (40) consecutive VWAP Trading Days beginning on, and including,
the forty first (41st) Scheduled Trading Day immediately before such Redemption Date; and (C) subject to clause (B) above,
if such Conversion Date occurs on or after August 1, 2025, the forty (40) consecutive VWAP Trading Days beginning on, and including,
the forty first (41st) Scheduled Trading Day immediately before the Maturity Date.

 

“Officer”
means the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief
Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of the Company.

 

“Officer’s
Certificate” means a certificate that is signed on behalf of the Company by one (1) of its Officers and that meets the
requirements of Section 11.03.

 

“Open of Business”
means 9:00 a.m., New York City time.

 

“Opinion
of Counsel” means an opinion in writing signed by legal counsel (including an employee of, or counsel to, the Company
or any of its Subsidiaries) reasonably acceptable to the Trustee, that meets the requirements of Section 11.03, subject
to customary qualifications and exclusions.

 

    - 8 - 

     

    

 

“Permitted
Holder” means David Katzman, Steven Katzman, Jordan Katzman and Alex Fenkell.

 

“Permitted
Party” means (i) any Permitted Holder and/or Affiliated Party thereof and/or (ii) any “group” within
the meaning of Section 13(d) of the Exchange Act consisting solely of Permitted Parties.

 

“Person”
or “person” means any individual, corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. Any division
or series of a limited liability company, limited partnership or trust will constitute a separate “person” under this
Indenture.

 

“Physical
Note” means a Note (other than a Global Note) that is represented by a certificate substantially in the form set forth
in Exhibit A, registered in the name of the Holder of such Note and duly executed by the Company and authenticated by the
Trustee.

 

“Purchase
Agreement” means that certain Purchase Agreement, dated February 4, 2021, between the Company and the Initial Purchasers.

 

“Redemption”
means the repurchase of any Note by the Company pursuant to Section 4.03.

 

“Redemption
Date” means the date fixed, pursuant to Section 4.03(D), for the settlement of the repurchase of any Notes by
the Company pursuant to a Redemption.

 

“Redemption
Notice Date” means, with respect to a Redemption, the date on which the Company sends the Redemption Notice for such
Redemption pursuant to Section 4.03(F).

 

“Redemption
Price” means the cash price payable by the Company to redeem any Note upon its Redemption, calculated pursuant to Section
4.03(E).

 

“Repurchase
Upon Fundamental Change” means the repurchase of any Note by the Company pursuant to Section 4.02.

 

“Responsible
Officer” means (A) any officer of the Trustee assigned by the Trustee to administer its corporate trust matters or any
other officer of the Trustee customarily performing functions similar to those performed by any of such officers; and (B) with
respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge
of, and familiarity with, the particular subject and, in each case, who shall have direct responsibility for the administration
of this Indenture.

 

“Restricted
Note Legend” means a legend substantially in the form set forth in Exhibit B-1.

 

    - 9 - 

     

    

 

“Restricted
Stock Legend” means, with respect to any Conversion Share, a legend substantially to the effect that the offer and sale
of such Conversion Share have not been registered under the Securities Act and that such Conversion Share cannot be sold or otherwise
transferred except pursuant to a transaction that is registered under the Securities Act or that is exempt from, or not subject
to, the registration requirements of the Securities Act.

 

“Rule 144”
means Rule 144 under the Securities Act (or any successor rule thereto), as the same may be amended from time to time.

 

“Rule 144A”
means Rule 144A under the Securities Act (or any successor rule thereto), as the same may be amended from time to time.

 

“Scheduled
Trading Day” means any day that is scheduled to be a Trading Day on the principal U.S. national or regional securities
exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities
exchange, on the principal other market on which the Common Stock is then traded. If the Common Stock is not so listed or traded,
then “Scheduled Trading Day” means a Business Day.

 

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

 

“Securities
Act” means the U.S. Securities Act of 1933, as amended.

 

“Security”
means any Note or Conversion Share.

 

“Settlement
Method” means Cash Settlement, Physical Settlement or Combination Settlement.

 

“Shoe Option”
means the Initial Purchasers’ option to purchase up to ninety seven million five hundred thousand dollars ($97,500,000) aggregate
principal amount of additional Notes as

provided for in the Purchase Agreement.

 

“Significant
Subsidiary” means, with respect to any Person, any Subsidiary of such Person that constitutes, or any group of Subsidiaries
of such Person that, in the aggregate, would constitute, a “significant subsidiary” (as defined in Rule 1-02(w) of
Regulation S-X under the Exchange Act) of such Person.

 

“Special Interest”
means any interest that accrues on any Note pursuant to Section 3.04 and/or Section 7.03.

 

“Special Interest
Payment Date” means, if and to the extent that Special Interest is payable on the Notes, each February 1 and August 1
of each year, commencing on August 1, 2021.

 

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

 

    - 10 - 

     

    

 

“Specified
Dollar Amount” means, with respect to the conversion of a Note to which Combination Settlement applies, the maximum cash
amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional share
of Common Stock).

 

“Stock Price”
has the following meaning for any Make-Whole Fundamental Change: (A) if the holders of Common Stock receive only cash in consideration
for their shares of Common Stock in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is pursuant to clause
(B) of the definition of “Fundamental Change,” then the Stock Price is the amount of cash paid per share of Common
Stock in such Make-Whole Fundamental Change; and (B) in all other cases, the Stock Price is the average of the Last Reported Sale
Prices per share of Common Stock for the five (5) consecutive Trading Days ending on, and including, the Trading Day immediately
before the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change.

 

“Subsidiary”
means, with respect to any Person, (A) any corporation, association or other business entity (other than a partnership or limited
liability company) of which more than fifty percent (50%) of the total voting power of the Capital Stock entitled (without regard
to the occurrence of any contingency, but after giving effect to any voting agreement or stockholders’ agreement that effectively
transfers voting power) to vote in the election of directors, managers or trustees, as applicable, of such corporation, association
or other business entity is owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries
of such Person; and (B) any partnership or limited liability company where (i) more than fifty percent (50%) of the capital accounts,
distribution rights, equity and voting interests, or of the general and limited partnership interests, as applicable, of such partnership
or limited liability company are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries
of such Person, whether in the form of membership, general, special or limited partnership or limited liability company interests
or otherwise; and (ii) such Person or any one or more of the other Subsidiaries of such Person is a controlling general partner
of, or otherwise controls, such partnership or limited liability company.

 

“Trading Day”
means any day on which (A) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange
on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange,
on the principal other market on which the Common Stock is then traded; and (B) there is no Market Disruption Event. If the Common
Stock is not so listed or traded, then “Trading Day” means a Business Day.

 

“Trading
Price” of the Notes on any Trading Day means the average of the secondary market bid quotations, expressed as a
cash amount per $1,000 principal amount of Notes, obtained by the Bid Solicitation Agent for one million dollars ($1,000,000)
(or such lesser amount as may then be outstanding) in principal amount of Notes at approximately 3:30 p.m., New York City
time, on such Trading Day from three (3) nationally recognized independent securities dealers selected by the Company, which
may include any of the Initial Purchasers; provided, however, that, if three (3) such bids cannot reasonably be
obtained by the Bid Solicitation Agent but two (2) such bids are obtained, then the average of the two (2) bids will be used,
and if only one (1) such bid can reasonably be obtained by the Bid Solicitation Agent, then that one (1) bid will be used.
If, on any Trading Day, (A) the Bid Solicitation Agent cannot reasonably obtain at least one (1) bid for one million dollars
($1,000,000) (or such lesser amount as may then be outstanding) in principal amount of Notes from a nationally recognized
independent securities dealer; (B) the Company is not acting as the Bid Solicitation Agent and the Company fails to instruct
the Bid Solicitation Agent to obtain bids when required; or (C) the Bid Solicitation Agent fails to solicit bids when
required, then, in each case, the Trading Price per $1,000 principal amount of Notes on such Trading Day will be deemed to be
less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading
Day and the Conversion Rate on such Trading Day.

 

    - 11 - 

     

    

 

“Transfer-Restricted
Security” means any Security that constitutes a “restricted security” (as defined in Rule 144); provided,
however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the following
events:

 

(A)       such
Security is sold or otherwise transferred to a Person (other than the Company or an Affiliate of the Company) pursuant to a registration
statement that was effective under the Securities Act at the time of such sale or transfer;

 

(B)       such
Security is sold or otherwise transferred to a Person (other than the Company or an Affiliate of the Company) pursuant to an available
exemption (including Rule 144) from the registration and prospectus-delivery requirements of, or in a transaction not subject to,
the Securities Act and, immediately after such sale or transfer, such Security ceases to constitute a “restricted security”
(as defined in Rule 144); and

 

(C)       such
Security is eligible for resale, by a Person that is not an Affiliate of the Company and that has not been an Affiliate of the
Company during the immediately preceding three (3) months, pursuant to Rule 144 without any limitations thereunder as to volume,
manner of sale, availability of current public information or notice.

 

The Trustee is under
no obligation to determine whether any Security is a Transfer-Restricted Security and may conclusively rely on an Officer’s
Certificate with respect thereto.

 

“Trust Indenture
Act” means the U.S. Trust Indenture Act of 1939, as amended.

 

“Trustee”
means the Person named as such in the first paragraph of this Indenture in its capacity as such until a successor replaces it in
accordance with the provisions of this Indenture and, thereafter, means such successor.

 

“VWAP
Market Disruption Event” means, with respect to any date, (A) the failure by the principal U.S. national or
regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S.
national or regional securities exchange, the principal other market on which the Common Stock is then traded, to open for
trading during its regular trading session on such date; or (B) the occurrence or existence, for more than one half hour
period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits
permitted by the relevant exchange or otherwise) in the Common Stock or in any options contracts or futures contracts
relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City
time, on such date.

 

    - 12 - 

     

    

 

“VWAP Trading
Day” means a day on which (A) there is no VWAP Market Disruption Event; and (B) trading in the Common Stock generally
occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common
Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common
Stock is then traded. If the Common Stock is not so listed or traded, then “VWAP Trading Day” means a Business Day.

 

“Wholly Owned
Subsidiary” of a Person means any Subsidiary of such Person all of the outstanding Capital Stock or other ownership interests
of which (other than directors’ qualifying shares) are owned by such Person or one or more Wholly Owned Subsidiaries of such
Person.

 

Section 1.02.    
Other Definitions.

 

	
        Term
	
        Defined
        in 

Section

	“Additional Shares”	5.07(A)
	“Business Combination Event”	6.01(A)
	“Cash Settlement”	5.03(A)
	“Combination Settlement”	5.03(A)
	“Common Stock Change Event”	5.09(A)
	“Conversion Agent”	2.06(A)
	“Conversion Consideration”	5.03(B)
	“Defaulted Amount”	2.05(B)
	“Event of Default”	7.01(A)
	“Expiration Date”	5.05(A)(v)
	“Expiration Time”	5.05(A)(v)
	“Fundamental Change Notice”	4.02(E)
	“Fundamental Change Repurchase Right”	4.02(A)
	“Initial Notes”	2.03(A)
	“Measurement Period”	5.01(C)(i)(2)
	“Notice of Conversion” 	5.02(A)(ii)
	“Partial Redemption Limitation”	4.03(I)
	“Paying Agent”	2.06(A)
	“Physical Settlement”	5.03(A)
	“Redemption Notice”	4.03(F)
	“Reference Property”	5.09(A)
	“Reference Property Unit”	5.09(A)
	“Register”	2.06(B)
	“Registrar”	2.06(A)
	“Reporting Event of Default”	7.03(A)
	“Specified Courts”	11.07
	“Spin-Off”	5.05(A)(iii)(2)
	“Spin-Off Valuation Period”	5.05(A)(iii)(2)
	“Successor Corporation”	6.01(A)
	“Successor Person”	5.09(A)
	“Tender/Exchange Offer Valuation Period”	5.05(A)(v)
	“Trading Price Condition”	5.01(C)(i)(2)

 

    - 13 - 

     

    

 

Section 1.03.    
Rules of Construction.

 

For purposes of this
Indenture:

 

(A)            
“or” is not exclusive;

 

(B)             
“including” means “including without limitation”;

 

(C)             
“will” expresses a command;

 

(D)            
the “average” of a set of numerical values refers to the arithmetic average of such numerical values;

 

(E)             
a merger involving, or a transfer of assets by, a limited liability company, limited partnership or trust will be deemed
to include any division of or by, or an allocation of assets to a series of, such limited liability company, limited partnership
or trust, or any unwinding of any such division or allocation;

 

(F)             
words in the singular include the plural and in the plural include the singular, unless the context requires otherwise;

 

(G)            
“herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not
to any particular Article, Section or other subdivision of this Indenture, unless the context requires otherwise;

 

(H)            
references to currency mean the lawful currency of the United States of America, unless the context requires otherwise;

 

(I)               
the exhibits, schedules and other attachments to this Indenture are deemed to form part of this Indenture; and

 

(J)               
the term “interest,” when used with respect to a Note, shall be deemed to refer solely to Special Interest,
unless the context requires otherwise.

 

Article
2.         The
Notes

 

Section 2.01.    
Form, Dating and Denominations.

 

The Notes and the Trustee’s
certificate of authentication will be substantially in the form set forth in Exhibit A. The Notes will bear the legends
required by Section 2.09 and may bear notations, legends or endorsements required by law, stock exchange rule or usage or
the Depositary. Each Note will be dated as of the date of its authentication.

 

    - 14 - 

     

    

 

Except to the extent
otherwise provided in a Company Order delivered to the Trustee in connection with the issuance and authentication thereof, the
Notes will be issued initially in the form of one or more Global Notes. Global Notes may be exchanged for Physical Notes, and Physical
Notes may be exchanged for Global Notes, only as provided in Section 2.10.

 

The Notes will be issuable
only in registered form without interest coupons and only in Authorized Denominations.

 

Each certificate representing
a Note will bear a unique registration number that is not affixed to any other certificate representing another outstanding Note.

 

The terms contained
in the Notes constitute part of this Indenture, and, to the extent applicable, the Company and the Trustee, by their execution
and delivery of this Indenture, agree to such terms and to be bound thereby; provided, however, that, to the extent
that any provision of any Note conflicts with the provisions of this Indenture, the provisions of this Indenture will control for
purposes of this Indenture and such Note.

 

Section 2.02.    
Execution, Authentication and Delivery.

 

(A)            
Due Execution by the Company. At least one (1) duly authorized Officer will sign the Notes on behalf of the Company
by manual, electronic (e.g., “.pdf”) or facsimile signature. A Note’s validity will not be affected by the failure
of any Officer whose signature is on any Note to hold, at the time such Note is authenticated, the same or any other office at
the Company.

 

(B)             
Authentication by the Trustee and Delivery.

 

(i)                
No Note will be valid until it is authenticated by the Trustee. A Note will be deemed to be duly authenticated only when
an authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate of authentication
of such Note.

 

(ii)             
The Trustee will cause an authorized signatory of the Trustee (or a duly appointed authenticating agent) to manually sign
the certificate of authentication of a Note only if (1) the Company delivers such Note to the Trustee; (2) such Note is executed
by the Company in accordance with Section 2.02(A); and (3) the Company delivers a Company Order to the Trustee that (a)
requests the Trustee to authenticate such Note; and (b) sets forth the name of the Holder of such Note and the date as of which
such Note is to be authenticated. If such Company Order also requests the Trustee to deliver such Note to any Holder or to the
Depositary, then the Trustee will promptly deliver such Note in accordance with such Company Order.

 

(iii)            The
Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. A duly appointed authenticating
agent may authenticate Notes whenever the Trustee may do so under this Indenture, and a Note authenticated as provided in
this Indenture by such an agent will be deemed, for purposes of this Indenture, to be authenticated by the Trustee. Each duly
appointed authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were
performing the duties that the authentication agent was validly appointed to undertake.

 

    - 15 - 

     

    

 

Section 2.03.    
Initial Notes and Additional Notes.

 

(A)            
Initial Notes. On the Issue Date, there will be originally issued six hundred and fifty million dollars ($650,000,000)
aggregate principal amount of Notes, subject to the provisions of this Indenture (including Section 2.02). If the Initial
Purchasers exercise the Shoe Option, then there will be originally issued up to an additional ninety seven million five hundred
thousand dollars ($97,500,000) principal amount of Notes pursuant to such exercise. Notes issued pursuant to this Section 2.03(A),
and any Notes issued in exchange therefor or in substitution thereof, are referred to in this Indenture as the “Initial
Notes.”

 

(B)              Additional
Notes. Without the consent of, or notice to, any Holder, the Company may, subject to the provisions of this Indenture
(including Section 2.02), issue additional Notes with the same terms as the Initial Notes (except, to the extent
applicable, the issue price, the first Special Interest Payment Date, if applicable, and the Last Original Issue Date of such
additional Notes) in an unlimited principal amount, which additional Notes will, subject to the foregoing, be considered to
be part of the same series of, and rank equally and ratably with all other, Notes issued under this Indenture; provided, however,
that if any such additional Notes (and any Notes that are resold after such Notes have been purchased or otherwise acquired
by the Company or its Subsidiaries) are not fungible with other Notes issued under this Indenture for federal income tax or
federal securities laws purposes, then such additional Notes (or resold Notes) will be identified by a separate CUSIP number
or by no CUSIP number.

 

Section 2.04.    
Method of Payment.

 

(A)            
Global Notes. The Company will pay, or cause the Paying Agent to pay, the principal (whether due upon maturity on
the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, any
Special Interest on, and any cash Conversion Consideration for, any Global Note to the Depositary as the registered Holder of such
Global Note, by wire transfer of immediately available funds no later than the time the same is due as provided in this Indenture.

 

(B)              Physical
Notes. The Company will pay, or cause the Paying Agent to pay, the principal (whether due upon maturity on the Maturity
Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, any Special
Interest on, and any cash Conversion Consideration due upon conversion of, any Physical Note no later than the time the same
is due as provided in this Indenture as follows: (i) if the principal amount of such Physical Note is at least five million
dollars ($5,000,000) (or such lower amount as the Company may choose in its sole and absolute discretion) and the Holder of
such Physical Note entitled to such payment has delivered to the Paying Agent or the Trustee, no later than the time set
forth in the immediately following sentence, a written request that the Company (or the Paying Agent) make such payment by
wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such
account; and (ii) in all other cases, by check mailed to the address of the Holder of such Physical Note entitled to such
payment as set forth in the Register. To be timely, such written request must be so delivered no later than the Close of
Business on the following date: (x) with respect to the payment of any Special Interest due on a Special Interest Payment
Date, the immediately preceding Special Interest Record Date; and (y) with respect to any other payment, the date that is
fifteen (15) calendar days immediately before the date such payment is due.

  

    - 16 - 

     

    

 

Section 2.05.        
No Regular Interest;
Defaulted Amounts; When Payment Date is Not a Business Day.

 

(A)            
No Regular Interest. The Notes shall not bear regular interest, and the principal amount of the Notes shall not accrete.
Special Interest on the Notes, if any, may accrue pursuant to Sections 3.04 and 7.03. Special Interest, if any, on
the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

(B)             
Defaulted Amounts. If the Company fails to pay any amount (a “Defaulted Amount”) payable on a
Note on or before the due date therefor as provided in this Indenture, then, regardless of whether such failure constitutes an
Event of Default, (i) such Defaulted Amount will forthwith cease to be payable to the Holder of such Note otherwise entitled to
such payment; (ii) such Defaulted Amount shall not accrue interest (except and solely to the extent Special Interest is otherwise
payable thereon pursuant to this Indenture); (iii) such Defaulted Amount and any Special Interest then due thereon will be paid
on a payment date selected by the Company to the Holder of such Note as of the Close of Business on a special record date selected
by the Company, provided that such special record date must be no more than fifteen (15), nor less than ten (10), calendar
days before such payment date; and (iv) at least fifteen (15) calendar days before such special record date, the Company will send
notice to the Trustee and the Holders that states such special record date, such payment date and the amount of such Defaulted
Amount and any Special Interest then due thereon to be paid on such payment date.

 

(C)             
Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on a Note as provided in
this Indenture is not a Business Day, then, notwithstanding anything to the contrary in this Indenture or the Notes, such payment
may be made on the immediately following Business Day and no interest will accrue on such payment as a result of the related delay.
Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or obligated
by law, regulation or executive order to close or be closed will be deemed not to be a “Business Day.”

 

Section
2.06.        
Registrar, Paying Agent and Conversion Agent.

 

(A)              Generally.
The Company will maintain (i) an office or agency in the continental United States where Notes may be presented for registration
of transfer or for exchange (the “Registrar”); (ii) an office or agency in the continental United States where
Notes may be presented for payment (the “Paying Agent”); and (iii) an office or agency in the continental United
States where Notes may be presented for conversion (the “Conversion Agent”). The Company hereby designates
the Corporate Trust Office of the Trustee as such offices. If the Company fails to maintain a Registrar, Paying Agent or Conversion
Agent, then the Trustee will act as such. For the avoidance of doubt, the Company or any of its Subsidiaries may act as Registrar,
Paying Agent or Conversion Agent.

 

(B)              Duties
of the Registrar. The Registrar will keep a record (the “Register”) of the names and addresses of the
Holders, the Notes held by each Holder and the transfer, exchange, repurchase, Redemption and conversion of Notes. Absent
manifest error, the entries in the Register will be conclusive and the Company and the Trustee may treat each Person whose
name is recorded as a Holder in the Register as a Holder for all purposes. The Register will be in written form or in any
form capable of being converted into written form reasonably promptly.

 

    - 17 - 

     

    

 

(C)             
Co-Agents; Company’s Right to Appoint Successor Registrars, Paying Agents and Conversion Agents. The Company
may appoint one or more co-Registrars, co-Paying Agents and co-Conversion Agents, each of whom will be deemed to be a Registrar,
Paying Agent or Conversion Agent, as applicable, under this Indenture. Subject to Section 2.06(A), the Company may change
any Registrar, Paying Agent or Conversion Agent (including appointing itself or any of its Subsidiaries to act in such capacity)
without notice to any Holder. The Company will notify the Trustee (and, upon request, any Holder) of the name and address of each
Note Agent, if any, not a party to this Indenture and will enter into an appropriate agency agreement with each such Note Agent,
which agreement will implement the provisions of this Indenture that relate to such Note Agent.

 

(D)             
Initial Appointments. The Company appoints the Trustee as the initial Paying Agent, the initial Registrar and the
initial Conversion Agent. In acting in such capacities under this Indenture and in connection with the Notes, the Trustee in such
capacities will act solely as an agent of the Company and will not thereby assume any obligations towards, or relationship of agency
or trust for or with, any Holder.

 

Section
2.07.        
Paying Agent and Conversion Agent to Hold Property in Trust.

 

The Company will require
each Paying Agent or Conversion Agent that is not the Trustee to agree in writing that such Note Agent will (A) hold in trust for
the benefit of Holders or the Trustee all money and other property held by such Note Agent for payment or delivery due on the Notes;
and (B) notify the Trustee in writing of any default by the Company in making any such payment or delivery. The Company, at any
time, may, and the Trustee, while any Default continues, may, require a Paying Agent or Conversion Agent to pay or deliver, as
applicable, all money and other property held by it to the Trustee, after which payment or delivery, as applicable, such Note Agent
(if not the Company or any of its Subsidiaries) will have no further liability for such money or property. If the Company or any
of its Subsidiaries acts as Paying Agent or Conversion Agent, then (A) it will segregate and hold in a separate trust fund for
the benefit of the Holders or the Trustee all money and other property held by it as Paying Agent or Conversion Agent; and (B)
references in this Indenture or the Notes to the Paying Agent or Conversion Agent holding cash or other property, or to the delivery
of cash or other property to the Paying Agent or Conversion Agent, in each case for payment or delivery to any Holders or the Trustee
or with respect to the Notes, will be deemed to refer to cash or other property so segregated and held separately, or to the segregation
and separate holding of such cash or other property, respectively. Upon the occurrence of any event pursuant to clause (ix)
or (x) of Section 7.01(A) with respect to the Company (or with respect to any Subsidiary of the Company acting as
Paying Agent or Conversion Agent), the Trustee will serve as the Paying Agent or Conversion Agent, as applicable, for the Notes.

 

    - 18 - 

     

    

 

Section
2.08.         Holder
Lists.

 

If the Trustee is not
the Registrar, the Company will furnish to the Trustee, no later than seven (7) Business Days before each Special Interest Payment
Date, if any, and at such other times as the Trustee may request, a list, in such form and as of such date or time as the Trustee
may reasonably require, of the names and addresses of the Holders.

 

Section
2.09.        
Legends.

 

(A)            
Global Note Legend. Each Global Note will bear the Global Note Legend (or any similar legend, not inconsistent with
this Indenture, required by the Depositary for such Global Note).

 

(B)             
Non-Affiliate Legend. Each Note will bear the Non-Affiliate Legend.

 

(C)             
Restricted Note Legend. Subject to Section 2.12,

 

(i)               
each Note that is a Transfer-Restricted Security will bear the Restricted Note Legend; and

 

(ii)             
if a Note is issued in exchange for, in substitution of, or to effect a partial conversion of, another Note (such other
Note being referred to as the “old Note” for purposes of this Section 2.09(C)(ii)), including pursuant to Section
2.10(B), 2.10(C), 2.11 or 2.13, then such Note will bear the Restricted Note Legend if such old Note
bore the Restricted Note Legend at the time of such exchange or substitution, or on the related Conversion Date with respect to
such conversion, as applicable; provided, however, that such Note need not bear the Restricted Note Legend if such
Note does not constitute a Transfer-Restricted Security immediately after such exchange or substitution, or as of such Conversion
Date, as applicable.

 

(D)             
Other Legends. A Note may bear any other legend or text, not inconsistent with this Indenture, as may be required
by applicable law or by any securities exchange or automated quotation system on which such Note is traded or quoted.

 

(E)             
Acknowledgment and Agreement by the Holders. A Holder’s acceptance of any Note bearing any legend required
by this Section 2.09 will constitute such Holder’s acknowledgment of, and agreement to comply with, the restrictions
set forth in such legend.

 

(F)             
Restricted Stock Legend.

 

(i)               
Each Conversion Share will bear the Restricted Stock Legend if the Note upon the conversion of which such Conversion Share
was issued was (or would have been had it not been converted) a Transfer-Restricted Security at the time such Conversion Share
was issued; provided, however, that such Conversion Share need not bear the Restricted Stock Legend if the Company
determines, in its reasonable discretion, that such Conversion Share need not bear the Restricted Stock Legend.

 

(ii)              Notwithstanding
anything to the contrary in this Section 2.09(F), a Conversion Share need not bear a Restricted Stock Legend if such
Conversion Share is issued in an uncertificated form that does not permit affixing legends thereto, provided the
Company takes measures (including the assignment thereto of a “restricted” CUSIP number) that it reasonably deems
appropriate to enforce the transfer restrictions referred to in the Restricted Stock Legend.

 

    - 19 - 

     

    

 

Section
2.10.        
Transfers and Exchanges; Certain Transfer Restrictions.

 

(A)             
Provisions Applicable to All Transfers and Exchanges.

 

(i)               
Subject to this Section 2.10, Physical Notes and beneficial interests in Global Notes may be transferred or exchanged
from time to time. The Registrar will record each such transfer or exchange of Physical Notes in the Register.

 

(ii)             
Each Note issued upon transfer or exchange of any other Note (such other Note being referred to as the “old Note”
for purposes of this Section 2.10(A)(ii)) or portion thereof in accordance with this Indenture will be the valid obligation
of the Company, evidencing the same indebtedness, and entitled to the same benefits under this Indenture, as such old Note or portion
thereof, as applicable.

 

(iii)           
The Company, the Trustee and the Note Agents will not impose any service charge on any Holder for any transfer, exchange
or conversion of Notes, but the Company, the Trustee, the Registrar and the Conversion Agent may require payment of a sum sufficient
to cover any transfer tax or similar governmental charge that may be imposed in connection with any transfer, exchange or conversion
of Notes, other than exchanges pursuant to Section 2.11, 2.17 or 8.05 not involving any transfer.

 

(iv)            
Notwithstanding anything to the contrary in this Indenture or the Notes, a Note may not be transferred or exchanged in part
unless the portion to be so transferred or exchanged is in an Authorized Denomination.

 

(v)              The
Trustee will have no obligation or duty to monitor, determine or inquire as to compliance with any transfer restrictions imposed
under this Indenture or applicable law with respect to any Security, other than to require the delivery of such certificates or
other documentation or evidence as expressly required by this Indenture and to examine the same to determine substantial compliance
as to form with the requirements of this Indenture. Neither the Trustee nor any of its agents will have any responsibility for
actions taken or not taken by the Depositary.

 

(vi)             The
Trustee will have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in,
the Depositary or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any
participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any
participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of
Redemption or repurchase) or the payment of any amount or delivery of any Notes (or other security or property) under or with
respect to such Notes. All payments to be made to Holders in respect of the Notes will be given or made only to or upon the
order of the registered Holders (which is the Depositary or its nominee in the case of a Global Note). The rights of
beneficial owners in any Global Note will be exercised only through the Depositary subject to the applicable Depositary
Procedures. The Trustee may rely and will be fully protected in relying upon information furnished by the Depositary with
respect to its members, participants and any beneficial owners.

 

    - 20 - 

     

    

 

(vii)           
Each Note issued upon transfer of, or in exchange for, another Note will bear each legend, if any, required by Section
2.09.

 

(viii)          
Upon satisfaction of the requirements of this Indenture to effect a transfer or exchange of any Note, the Company will cause
such transfer or exchange to be effected as soon as reasonably practicable but in no event later than the second (2nd) Business
Day after the date of such satisfaction.

 

(ix)            
For the avoidance of doubt, and subject to the terms of this Indenture, as used in this Section 2.10, an “exchange”
of a Global Note or a Physical Note includes (x) an exchange effected for the sole purpose of removing any Restricted Note Legend
affixed to such Global Note or Physical Note; and (y) if such Global Note or Physical Note is identified by a “restricted”
CUSIP number, an exchange effected for the sole purpose of causing such Global Note or Physical Note to be identified by an “unrestricted”
CUSIP number.

 

(B)             
Transfers and Exchanges of Global Notes.

 

(i)             
Subject to the immediately following sentence, no Global Note may be transferred or exchanged in whole except (x) by the
Depositary to a nominee of the Depositary; (y) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary;
or (z) by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. No Global Note
(or any portion thereof) may be transferred to, or exchanged for, a Physical Note; provided, however, that a Global
Note will be exchanged, pursuant to customary procedures, for one or more Physical Notes if:

 

(1)               (x)
the Depositary notifies the Company or the Trustee that the Depositary is unwilling or unable to continue as depositary for such
Global Note or (y) the Depositary ceases to be a “clearing agency” registered under Section 17A of the Exchange Act
and, in each case, the Company fails to appoint a successor Depositary within ninety (90) days of such notice or cessation;

 

(2)              
an Event of Default has occurred and is continuing and the Company, the Trustee or the Registrar has received a written
request from the Depositary, or from a holder of a beneficial interest in such Global Note, to exchange such Global Note or beneficial
interest, as applicable, for one or more Physical Notes; or

 

(3)              
the Company, in its sole discretion, permits the exchange of any beneficial interest in such Global Note for one or more
Physical Notes at the request of the owner of such beneficial interest.

 

    - 21 - 

     

    

 

(ii)             
 Upon satisfaction of the requirements of this Indenture to effect a transfer or exchange of any Global Note (or any portion
thereof):

 

(1)              
the Trustee will reflect any resulting decrease of the principal amount of such Global Note by notation on the “Schedule
of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if such notation results in such Global
Note having a principal amount of zero, the Company may (but is not required to) instruct the Trustee in writing to cancel such
Global Note pursuant to Section 2.15);

 

(2)              
if required to effect such transfer or exchange, then the Trustee will reflect any resulting increase of the principal amount
of any other Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of
such other Global Note;

 

(3)              
if required to effect such transfer or exchange, then the Company will issue, execute and deliver, and the Trustee will
authenticate, in each case in accordance with Section 2.02, a new Global Note bearing each legend, if any, required by Section
2.09; and

 

(4)              
if such Global Note (or such portion thereof), or any beneficial interest therein, is to be exchanged for one or more Physical
Notes, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section
2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the
principal amount of such Global Note to be so exchanged; (y) are registered in such name(s) as the Depositary specifies (or as
otherwise determined pursuant to customary procedures); and (z) bear each legend, if any, required by Section 2.09.

 

(iii)             
Each transfer or exchange of a beneficial interest in any Global Note will be made in accordance with the Depositary Procedures.

 

(C)             
Transfers and Exchanges of Physical Notes.

 

(i)              
Subject to this Section 2.10, a Holder of a Physical Note may (x) transfer such Physical Note (or any portion thereof
in an Authorized Denomination) to one or more other Person(s); (y) exchange such Physical Note (or any portion thereof in an Authorized
Denomination) for one or more other Physical Notes in Authorized Denominations having an aggregate principal amount equal to the
aggregate principal amount of the Physical Note (or portion thereof) to be so exchanged; and (z) if then permitted by the Depositary
Procedures, transfer such Physical Note (or any portion thereof in an Authorized Denomination) in exchange for a beneficial interest
in one or more Global Notes; provided, however, that, to effect any such transfer or exchange, such Holder must:

 

(1)               surrender
such Physical Note to be transferred or exchanged to the office of the Registrar, together with any endorsements or transfer instruments
reasonably required by the Company, the Trustee or the Registrar; and

 

    - 22 - 

     

    

 

(2)              
 deliver such certificates, documentation or evidence as may be required pursuant to Section 2.10(D).

 

(ii)             
Upon the satisfaction of the requirements of this Indenture to effect a transfer or exchange of any Physical Note (such
Physical Note being referred to as the “old Physical Note” for purposes of this Section 2.10(C)(ii)) of a Holder
(or any portion of such old Physical Note in an Authorized Denomination):

 

(1)              
such old Physical Note will be promptly cancelled pursuant to Section 2.15;

 

(2)              
if such old Physical Note is to be so transferred or exchanged only in part, then the Company will issue, execute and deliver,
and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are
in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such old Physical Note not
to be so transferred or exchanged; (y) are registered in the name of such Holder; and (z) bear each legend, if any, required by
Section 2.09;

 

(3)              
in the case of a transfer:

 

(a)              
to the Depositary or a nominee thereof that will hold its interest in such old Physical Note (or such portion thereof) to
be so transferred in the form of one or more Global Notes, the Trustee will reflect an increase of the principal amount of one
or more existing Global Notes by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part
of such Global Note(s), which increase(s) are in Authorized Denominations and aggregate to the principal amount to be so transferred,
and which Global Note(s) bear each legend, if any, required by Section 2.09; provided, however, that if such
transfer cannot be so effected by notation on one or more existing Global Notes (whether because no Global Notes bearing each legend,
if any, required by Section 2.09 then exist, because any such increase will result in any Global Note having an aggregate
principal amount exceeding the maximum aggregate principal amount permitted by the Depositary or otherwise), then the Company will
issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more
Global Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount to be
so transferred; and (y) bear each legend, if any, required by Section 2.09; and

 

(b)                to
a transferee that will hold its interest in such old Physical Note (or such portion thereof) to be so transferred in the form
of one or more Physical Notes, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case
in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an
aggregate principal amount equal to the principal amount to be so transferred; (y) are registered in the name of such
transferee; and (z) bear each legend, if any, required by Section 2.09; and

 

    - 23 - 

     

    

 

(4)              
in the case of an exchange, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case
in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate
principal amount equal to the principal amount to be so exchanged; (y) are registered in the name of the Person to whom such old
Physical Note was registered; and (z) bear each legend, if any, required by Section 2.09.

 

(D)            
Requirement to Deliver Documentation and Other Evidence. If a Holder of any Note that is identified by a “restricted”
CUSIP number or that bears a Restricted Note Legend or is a Transfer-Restricted Security requests to:

 

(i)              
cause such Note to be identified by an “unrestricted” CUSIP number;

 

(ii)             
remove such Restricted Note Legend; or

 

(iii)             
register the transfer of such Note to the name of another Person,

 

then the Company, the Trustee and the Registrar
may refuse to effect such identification, removal or transfer, as applicable, unless there is delivered to the Company, the Trustee
and the Registrar such certificates or other documentation or evidence as the Company, the Trustee and the Registrar may reasonably
require to determine that such identification, removal or transfer, as applicable, complies with the Securities Act and other applicable
securities laws; provided, however, that no such certificates, documentation or evidence need be so delivered on
and after the Free Trade Date with respect to such Note unless the Company determines, in its reasonable discretion, that such
Note is not eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise without any requirements as
to volume, manner of sale, availability of current public information or notice under the Securities Act.

 

(E)             
Transfers of Notes Subject to Redemption, Repurchase or Conversion. Notwithstanding anything to the contrary in this
Indenture or the Notes, the Company, the Trustee and the Registrar may refuse to register the transfer of or exchange any Note
that (i) has been surrendered for conversion; (ii) is subject to a Fundamental Change Repurchase Notice validly delivered, and
not withdrawn, pursuant to Section 4.02(F), except to the extent that the Company fails to pay the applicable Fundamental
Change Repurchase Price when due; or (iii) has been selected for Redemption pursuant to a Redemption Notice, except to the extent
that the Company fails to pay the applicable Redemption Price when due.

 

Section
2.11.    
Exchange and Cancellation of Notes to Be Converted or to Be Repurchased Pursuant
to a Repurchase Upon Fundamental Change or Redemption.

 

(A)             Partial
Conversions of Physical Notes and Partial Repurchases of Physical Notes Pursuant to a Repurchase Upon Fundamental Change or
Redemption. If only a portion of a Physical Note of a Holder is to be converted pursuant to Article 5 or
repurchased pursuant to a Repurchase Upon Fundamental Change or Redemption, then, as soon as reasonably practicable after
such Physical Note is surrendered for such conversion or repurchase, as applicable, the Company will cause such Physical Note
to be exchanged, pursuant and subject to Section 2.10(C), for (i) one or more Physical Notes that are in Authorized
Denominations and have an aggregate principal amount equal to the principal amount of such Physical Note that is not to be so
converted or repurchased, as applicable, and deliver such Physical Note(s) to such Holder; and (ii) a Physical Note having a
principal amount equal to the principal amount to be so converted or repurchased, as applicable, which Physical Note will be
converted or repurchased, as applicable, pursuant to the terms of this Indenture; provided, however, that the
Physical Note referred to in this clause (ii) need not be issued at any time after which such principal amount subject
to such conversion or repurchase, as applicable, is deemed to cease to be outstanding pursuant to Section 2.18.

 

    - 24 - 

     

    

 

(B)             
Cancellation of Notes that Are Converted and Notes that Are Repurchased Pursuant to a Repurchase Upon Fundamental Change
or Redemption.

 

(i)               Physical
Notes. If a Physical Note (or any portion thereof that has not theretofore been exchanged pursuant to Section 2.11(A))
of a Holder is to be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or
Redemption, then, promptly after the later of the time such Physical Note (or such portion) is deemed to cease to be outstanding
pursuant to Section 2.18 and the time such Physical Note is surrendered for such conversion or repurchase, as applicable,
(1) such Physical Note will be cancelled pursuant to Section 2.15; and (2) in the case of a partial conversion or repurchase,
as applicable, the Company will issue, execute and deliver to such Holder, and the Trustee will authenticate, in each case in
accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate
principal amount equal to the principal amount of such Physical Note that is not to be so converted or repurchased, as applicable;
(y) are registered in the name of such Holder; and (z) bear each legend, if any, required by Section 2.09.

 

(ii)             
Global Notes. If a Global Note (or any portion thereof) is to be converted pursuant to Article 5 or repurchased
pursuant to a Repurchase Upon Fundamental Change or Redemption, then, promptly after the time such Note (or such portion) is deemed
to cease to be outstanding pursuant to Section 2.18, the Trustee will reflect a decrease of the principal amount of such
Global Note in an amount equal to the principal amount of such Global Note to be so converted or repurchased, as applicable, by
notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if the
principal amount of such Global Note is zero following such notation, cancel such Global Note pursuant to Section 2.15).

 

Section
2.12.        
Removal of Transfer Restrictions.

 

Without limiting
the generality of any other provision of this Indenture (including Section 3.04), the Restricted Note Legend affixed
to any Note will be deemed, pursuant to this Section 2.12 and the footnote to such Restricted Note Legend, to be
removed therefrom upon the Company’s delivery to the Trustee of notice, signed on behalf of the Company by one (1) of
its Officers, to such effect (and, for the avoidance of doubt, such notice need not be accompanied by an Officer’s
Certificate or an Opinion of Counsel in order to be effective to cause such Restricted Note Legend to be deemed to be removed
from such Note). If such Note bears a “restricted” CUSIP or ISIN number at the time of such delivery, then, upon
such delivery, such Note will be deemed, pursuant to this Section 2.12 and the footnotes to the CUSIP and ISIN numbers
set forth on the face of the certificate representing such Note, to thereafter bear the “unrestricted” CUSIP and
ISIN numbers identified in such footnotes; provided, however, that if such Note is a Global Note and the
Depositary thereof requires a mandatory exchange or other procedure to cause such Global Note to be identified by
 “unrestricted” CUSIP and ISIN numbers in the facilities of such Depositary, then (i) the Company will effect such
exchange or procedure as soon as reasonably practicable; and (ii) for purposes of Section 3.04 and the definition of
Freely Tradable, such Global Note will not be deemed to be identified by “unrestricted” CUSIP and ISIN numbers
until such time as such exchange or procedure is effected.

 

    - 25 - 

     

    

 

Section
2.13.        
Replacement Notes.

 

If a Holder of any
Note claims that such Note has been mutilated, lost, destroyed or wrongfully taken, then the Company will issue, execute and deliver,
and the Trustee will authenticate, in each case in accordance with Section 2.02, a replacement Note upon surrender to the
Trustee of such mutilated Note, or upon delivery to the Trustee of evidence of such loss, destruction or wrongful taking reasonably
satisfactory to the Trustee and the Company. In the case of a lost, destroyed or wrongfully taken Note, the Company and the Trustee
may require the Holder thereof to provide such security or indemnity that is satisfactory to the Company and the Trustee to protect
the Company and the Trustee from any loss that any of them may suffer if such Note is replaced.

 

Every replacement Note
issued pursuant to this Section 2.13 will be an additional obligation of the Company and will be entitled to all of the
benefits of this Indenture equally and ratably with all other Notes issued under this Indenture.

 

Section
2.14.        
Registered Holders; Certain Rights with Respect to Global Notes.

 

Only the Holder of
a Note will have rights under this Indenture as the owner of such Note. Without limiting the generality of the foregoing, Depositary
Participants will have no rights as such under this Indenture with respect to any Global Note held on their behalf by the Depositary
or its nominee, or by the Trustee as its custodian, and the Company, the Trustee and the Note Agents, and their respective agents,
may treat the Depositary as the absolute owner of such Global Note for all purposes whatsoever; provided, however,
that (A) the Holder of any Global Note may grant proxies and otherwise authorize any Person, including Depositary Participants
and Persons that hold interests in Notes through Depositary Participants, to take any action that such Holder is entitled to take
with respect to such Global Note under this Indenture or the Notes; and (B) the Company and the Trustee, and their respective agents,
may give effect to any written certification, proxy or other authorization furnished by the Depositary.

 

Section
2.15.        
Cancellation.

 

The Company may
at any time deliver Notes to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent will
forward to the Trustee each Note duly surrendered to them for transfer, exchange, payment or conversion. The Trustee will
promptly cancel all Notes so surrendered to it in accordance with its customary procedures. Without limiting the generality
of Section 2.03(B), the Company may not originally issue new Notes to replace Notes that it has paid or that have been
cancelled upon transfer, exchange, payment or conversion.

 

    - 26 - 

     

    

 

Section
2.16.        
Notes Held by the Company or its Affiliates.

 

Without limiting the
generality of Section 2.18, in determining whether the Holders of the required aggregate principal amount of Notes have
concurred in any direction, waiver or consent, Notes owned by the Company or any of its Affiliates will be deemed not to be outstanding;
provided, however, that, for purposes of determining whether the Trustee is protected in relying on any such direction,
waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned will be so disregarded.

 

Section
2.17.        
Temporary Notes.

 

Until definitive Notes
are ready for delivery, the Company may issue, execute and deliver, and the Trustee will authenticate, in each case in accordance
with Section 2.02, temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have variations
that the Company considers appropriate for temporary Notes. The Company will promptly prepare, issue, execute and deliver, and
the Trustee will authenticate, in each case in accordance with Section 2.02, definitive Notes in exchange for temporary
Notes. Until so exchanged, each temporary Note will in all respects be entitled to the same benefits under this Indenture as definitive
Notes.

 

Section
2.18.        
Outstanding Notes.

 

(A)            
Generally. The Notes that are outstanding at any time will be deemed to be those Notes that, at such time, have been
duly executed and authenticated, excluding those Notes (or portions thereof) that have theretofore been (i) cancelled by the Trustee
or delivered to the Trustee for cancellation in accordance with Section 2.15; (ii) assigned a principal amount of zero by
notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of any a Global Note representing
such Note; (iii) paid in full (including upon conversion) in accordance with this Indenture; or (iv) deemed to cease to be outstanding
to the extent provided in, and subject to, clause (B), (C) or (D) of this Section 2.18.

 

(B)             
Replaced Notes. If a Note is replaced pursuant to Section 2.13, then such Note will cease to be outstanding
at the time of its replacement, unless the Trustee and the Company receive proof reasonably satisfactory to them that such Note
is held by a “bona fide purchaser” under applicable law.

 

(C)              Maturing
Notes and Notes Called for Redemption or Subject to Repurchase. If, on a Redemption Date, a Fundamental Change Repurchase
Date or the Maturity Date, the Paying Agent holds money sufficient to pay the aggregate Redemption Price, Fundamental Change
Repurchase Price or principal amount, respectively, together, in each case, with the aggregate Special Interest, if any, in
each case due on such date, then (unless there occurs a Default in the payment of any such amount) (i) the Notes (or portions
thereof) to be redeemed or repurchased, or that mature, on such date will be deemed, as of such date, to cease to be
outstanding, except to the extent provided in Sections 4.02(D), 4.03(E) or 5.02(D); and (ii) the rights
of the Holders of such Notes (or such portions thereof), as such, will terminate with respect to such Notes (or such portions
thereof), other than the right to receive the Redemption Price, Fundamental Change Repurchase Price or principal amount, as
applicable, of, and any accrued and unpaid Special Interest on, such Notes (or such portions thereof), in each case as
provided in this Indenture.

 

    - 27 - 

     

    

 

(D)             
Notes to Be Converted. At the Close of Business on the Conversion Date for any Note (or any portion thereof) to be
converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or any
Special Interest due, pursuant to Section 5.03(B) or Section 5.02(D), upon such conversion) be deemed to cease to
be outstanding, except to the extent provided in Section 5.02(D) or Section 5.08.

 

(E)             
Cessation of Accrual of Special Interest. Except as provided in Sections 4.02(D), 4.03(E) or 5.02(D),
Special Interest, if any, will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to
this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other
property due on such Note.

 

Section
2.19.        
Repurchases by the Company.

 

Without limiting
the generality of Section 2.15, the Company or its Subsidiaries may, from time to time, repurchase Notes in open
market purchases or in negotiated transactions without delivering prior notice to Holders; provided, however,
that if any such Notes are resold after such Notes have been purchased or otherwise acquired by the Company or its
Subsidiaries and if any such Notes are not fungible with other Notes issued under this Indenture for federal tax or federal securities law purposes, then such resold Notes will be identified by a separate CUSIP number or by no CUSIP number. In connection with
any such repurchase, the Company may appoint a tender agent, in which case such tender agent shall be the Paying Agent in
connection with such repurchase.

 

Section
2.20.        
CUSIP and ISIN Numbers.

 

Subject to Section
2.12, the Company may use one or more CUSIP or ISIN numbers to identify any of the Notes, and, if so, the Company and the Trustee
will use such CUSIP or ISIN number(s) in notices to Holders as applicable; provided, however, that (i) the Trustee
makes no representation as to the correctness or accuracy of any such CUSIP or ISIN number; (ii) the effectiveness of any such
notice will not be affected by any defect in, or omission of, any such CUSIP or ISIN number; and (iii) the Trustee shall have no
liability for any defect in the CUSIP or ISIN numbers as they appear on any Note, notice or elsewhere. The Company will promptly
notify the Trustee of any change in the CUSIP or ISIN number(s) identifying any Notes.

 

Article
3.         Covenants

 

Section
3.01.        
Payment on Notes.

 

(A)            
Generally. The Company will pay or cause to be paid all the principal of, the Fundamental Change Repurchase Price
and Redemption Price for, any Special Interest on, and other amounts due with respect to, the Notes on the dates and in the manner
set forth in this Indenture.

 

(B)              Deposit
of Funds. Before 10:00 A.M., New York City time, on each Redemption Date, Fundamental Change Repurchase Date or Special
Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the Company
will deposit, or will cause there to be deposited, with the Paying Agent cash, in funds immediately available on such date,
sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as
soon as practicable, any money not required for such purpose.

 

    - 28 - 

     

    

 

Section 3.02.        
Exchange Act Reports.

 

(A)            
Generally. The Company will send to the Trustee copies of all reports that the Company is required to file with or
furnish to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that
the Company is required to file or furnish the same (after giving effect to all applicable grace periods under the Exchange Act);
provided, however, that the Company need not send to the Trustee any material for which the Company has received,
or is seeking in good faith and has not been denied, confidential treatment by the SEC. Any report that the Company files with
or furnishes to the SEC through the EDGAR system (or any successor thereto) will be deemed to be sent to the Trustee and Holders
at the time such report is so filed or furnished via the EDGAR system (or such successor). Upon the request of any Holder, the
Company will provide to such Holder a copy of any report that the Company has furnished or filed pursuant to this Section 3.02(A),
other than a report that is deemed to be sent to the Trustee pursuant to the preceding sentence.

 

(B)             
Trustee’s Disclaimer. The Trustee need not determine whether the Company has filed any material via the EDGAR
system (or such successor). The sending or filing of reports pursuant to Section 3.02(A) to the Trustee will be for informational
purposes only, and the Trustee’s receipt of such reports will not be deemed to constitute actual or constructive notice to
the Trustee of any information contained, or determinable from information contained, therein, including the Company’s compliance
with any of its covenants under this Indenture. The Trustee shall have no liability or responsibility for the filing, content or
timeliness if any report hereunder.

 

Section
3.03.        
Rule 144A Information.

 

If the Company is not
subject to Section 13 or 15(d) of the Exchange Act at any time when any Notes or shares of Common Stock issuable upon conversion
of the Notes are outstanding and constitute “restricted securities” (as defined in Rule 144), then the Company (or
its successor) will promptly provide, to the Trustee and, upon written request, to any Holder, beneficial owner or prospective
purchaser of such Notes or shares, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act
to facilitate the resale of such Notes or shares pursuant to Rule 144A. The Company (or its successor) will take such further action
as any Holder or beneficial owner of such Notes or shares may reasonably request to enable such Holder or beneficial owner to sell
such Notes or shares pursuant to Rule 144A.

 

Section
3.04.        
Special Interest.

 

(A)            
Accrual of Special Interest.

 

(i)               
If, at any time during the six (6) month period beginning on, and including, the date that is six (6) months after the Last
Original Issue Date of any Note,

 

(1)               the
Company fails to timely file any report (other than Form 8-K reports) that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder); or

 

    - 29 - 

     

    

 

(2)              
such Note is not otherwise Freely Tradable,

 

then Special Interest will accrue
on such Note for each day during such period on which such failure is continuing or such Note is not Freely Tradable.

 

(ii)             
In addition, Special Interest will accrue on a Note on each day on which such Note is not Freely Tradable on or after the
De-Legending Deadline Date for such Note.

 

(B)             
Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 3.04(A)
will be payable in arrears on each Special Interest Payment Date as set forth in Section 2.04 and will accrue at a rate
per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special
Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof
for the duration of the period on which Special Interest accrues; provided, however, that in no event will Special
Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that
the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable
grace periods thereunder), pursuant to Section 3.04(A), together with any Special Interest that is payable at the Company’s
election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, accrue on any day on a Note
at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that
accrues on a Note pursuant to Section 3.04(A) will be in addition to any Special Interest that accrues on such Note pursuant
to Section 7.03(A).

 

(C)             
Notice of Accrual of Special Interest; Trustee’s Disclaimer. The Company will send written notice to the Holder
of each Note, and to the Trustee, of the commencement and termination of any period in which any Special Interest pursuant to Section
3.04(A) accrues on such Note. In addition, if any Special Interest accrues on any Note, then, no later than five (5) Business
Days before each date on which such Special Interest is to be paid, the Company will deliver an Officer’s Certificate to
the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Special Interest pursuant to Section 3.04(A)
on such Note on such date of payment; and (ii) the amount of such Special Interest that is payable on such date of payment. The
Trustee will have no duty to determine whether any Special Interest is payable or the amount thereof.

 

(D)             
Exclusive Remedy. The accrual of Special Interest pursuant to Section 3.04(A) will be the exclusive remedy
available to Holders for the failure of their Notes to become Freely Tradable.

 

Section
3.05.        
Compliance and Default Certificates.

 

(A)             Annual
Compliance Certificate. Within ninety (90) days after December 31, 2021 and each fiscal year of the Company ending
thereafter, the Company will deliver an Officer’s Certificate to the Trustee stating (i) that the signatory thereto has
supervised a review of the activities of the Company and its Subsidiaries during such fiscal year with a view towards
determining whether any Default or Event of Default has occurred; and (ii) whether, to such signatory’s knowledge, a
Default or Event of Default has occurred and is continuing (and, if so, describing all such Defaults or Events of Default and
what action the Company is taking or proposes to take with respect thereto).

 

    - 30 - 

     

    

 

(B)             
Default Certificate. If a Default or Event of Default occurs, then the Company will promptly deliver an Officer’s
Certificate to the Trustee describing the same and what action the Company is taking or proposes to take with respect thereto.

 

Section
3.06.        
Stay, Extension and Usury Laws.

 

To the extent that
it may lawfully do so, the Company (A) agrees that it will not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law (wherever or whenever enacted or in force) that may affect
the covenants or the performance of this Indenture; and (B) expressly waives all benefits or advantages of any such law and agrees
that it will not, by resort to any such law, hinder, delay or impede the execution of any power granted to the Trustee by this
Indenture, but will suffer and permit the execution of every such power as though no such law has been enacted.

 

Section
3.07.        
Acquisition of Notes by the Company and its Affiliates.

 

Without limiting the
generality of Section 2.18, Notes that the Company or any of its Subsidiaries have purchased or otherwise acquired will
be deemed to remain outstanding (except to the extent provided in Section 2.16) until such time as such Notes are delivered
to the Trustee for cancellation. The Company will use commercially reasonable efforts to prevent any of its Affiliates from acquiring
any Note (or any beneficial interest therein).

 

 

Article
4.         Repurchase
and Redemption

 

Section
4.01.        
No Sinking Fund.

 

No sinking fund is
required to be provided for the Notes.

 

Section
4.02.        
Right of Holders to Require the Company to Repurchase Notes upon a Fundamental
Change.

 

(A)            
Right of Holders to Require the Company to Repurchase Notes Upon a Fundamental Change. Subject to the other terms
of this Section 4.02, if a Fundamental Change occurs, then each Holder will have the right (the “Fundamental Change
Repurchase Right”) to require the Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized
Denomination) on the Fundamental Change Repurchase Date for such Fundamental Change for a cash purchase price equal to the Fundamental
Change Repurchase Price. 

 

    - 31 - 

     

    

 

(B)            Repurchase
Prohibited in Certain Circumstances. If the principal amount of the Notes has been accelerated (other than as a result of
a failure to pay the related Fundamental Change Repurchase Price and any related interest pursuant to the proviso to Section
4.02(D)) and such acceleration has not been rescinded on or before the Fundamental Change Repurchase Date, then (i) the Company
may not repurchase any Notes pursuant to this Section 4.02; and (ii) the Company will cause any Notes theretofore surrendered
for such Repurchase Upon Fundamental Change to be returned to the Holders thereof (or, if applicable with respect to Global Notes,
cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interest
in such Notes in accordance with the Depositary Procedures).

 

(C)             Fundamental Change Repurchase Date. The Fundamental Change Repurchase Date for any Fundamental Change will be a Business
Day of the Company’s choosing that is no more than thirty five (35), nor less than twenty (20), Business Days after the date
the Company sends the related Fundamental Change Notice pursuant to Section 4.02(E).

 

(D)            Fundamental
Change Repurchase Price. The Fundamental Change Repurchase Price for any Note to be repurchased upon a Repurchase Upon Fundamental
Change following a Fundamental Change is an amount in cash equal to the principal amount of such Note plus accrued and unpaid
Special Interest, if any, on such Note to, but excluding, the Fundamental Change Repurchase Date for such Fundamental Change;
provided, however, that if such Fundamental Change Repurchase Date is after a Special Interest Record Date and on
or before the next Special Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Special Interest
Record Date will be entitled, notwithstanding such Repurchase Upon Fundamental Change, to receive, on or, at the Company’s
election, before such Special Interest Payment Date, the unpaid Special Interest, if any, that would have accrued on such Note
to, but excluding, such Special Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding
through such Special Interest Payment Date, if such Fundamental Change Repurchase Date is before such Special Interest Payment
Date); and (ii) the Fundamental Change Repurchase Price will not include any accrued and unpaid Special Interest on such Note
to, but excluding, such Fundamental Change Repurchase Date. For the avoidance of doubt, if a Special Interest Payment Date is
not a Business Day within the meaning of Section 2.05(C) and such Fundamental Change Repurchase Date occurs on the Business
Day immediately after such Special Interest Payment Date, then (x) any accrued and unpaid Special Interest on Notes to, but excluding,
such Special Interest Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders
as of the Close of Business on the immediately preceding Special Interest Record Date; and (y) the Fundamental Change Repurchase
Price will include any Special Interest on Notes to be repurchased from, and including, such Special Interest Payment Date to,
but excluding, the Fundamental Change Repurchase Date.

 

(E)            Fundamental
Change Notice. On or before the twentieth (20th) calendar day after the effective date of a Fundamental Change, the Company
will send to each Holder, the Trustee, the Conversion Agent and the Paying Agent a notice of such Fundamental Change (a “Fundamental
Change Notice”). Substantially contemporaneously, the Company will issue a press release through such national newswire
service as the Company then uses (or publish the same through such other widely disseminated public medium as the Company then
uses, including its website) containing the information set forth in the Fundamental Change Notice.

 

    -32-

     

    

 

Such
Fundamental Change Notice must state:

 

(i)               briefly,
the events causing such Fundamental Change;

 

(ii)             
the effective date of such Fundamental Change;

 

(iii)             the
procedures that a Holder must follow to require the Company to repurchase its Notes pursuant to this Section 4.02, including
the deadline for exercising the Fundamental Change Repurchase Right and the procedures for submitting and withdrawing a Fundamental
Change Repurchase Notice;

 

(iv)            the
Fundamental Change Repurchase Date for such Fundamental Change;

 

(v)             the
Fundamental Change Repurchase Price per $1,000 principal amount of Notes for such Fundamental Change (and, if such Fundamental
Change Repurchase Date is after a Special Interest Record Date and on or before the next Special Interest Payment Date, the amount,
manner and timing of any Special Interest payment payable pursuant to the proviso to Section 4.02(D));

 

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

 

(vii)           the
Conversion Rate in effect on the date of such Fundamental Change Notice and a description and quantification of any adjustments
to the Conversion Rate that may result from such Fundamental Change (including pursuant to Section 5.07);

 

(viii)          that Notes for which a Fundamental Change Repurchase Notice has been duly tendered and not duly withdrawn must be delivered
to the Paying Agent for the Holder thereof to be entitled to receive the Fundamental Change Repurchase Price;

 

(ix)             that Notes (or any portion thereof) that are subject to a Fundamental Change Repurchase Notice that has been duly tendered
may be converted only if such Fundamental Change Repurchase Notice is withdrawn in accordance with this Indenture; and

 

(x)              the CUSIP and ISIN numbers, if any, of the Notes.

 

Neither the failure
to deliver a Fundamental Change Notice nor any defect in a Fundamental Change Notice will limit the Fundamental Change Repurchase
Right of any Holder or otherwise affect the validity of any proceedings relating to any Repurchase Upon Fundamental Change.

 

(F)             Procedures
to Exercise the Fundamental Change Repurchase Right.

 

(i)               Delivery
of Fundamental Change Repurchase Notice and Notes to Be Repurchased. To exercise its Fundamental Change Repurchase Right for
a Note following a Fundamental Change, the Holder thereof must deliver to the Paying Agent:

 

(1)               before
the Close of Business on the Business Day immediately before the related Fundamental Change Repurchase Date (or such later
time as may be required by law), a duly completed, written Fundamental Change Repurchase Notice with respect to such Note;
and

 

    -33-

     

    

 

(2)               such
Note, duly endorsed for transfer (if such Note is a Physical Note) or by book-entry transfer (if such Note is a Global Note).

 

The Paying Agent will promptly
deliver to the Company a copy of each Fundamental Change Repurchase Notice that it receives.

 

(ii)             Contents of Fundamental Change Repurchase Notices. Each Fundamental Change Repurchase Notice with respect to a Note
must state:

 

(1)              
if such Note is a Physical Note, the certificate number of such Note;

 

(2)              
the principal amount of such Note to be repurchased, which must be an Authorized Denomination; and

 

(3)               that
such Holder is exercising its Fundamental Change Repurchase Right with respect to such principal amount of such Note;

 

provided, however,
that if such Note is a Global Note, then such Fundamental Change Repurchase Notice must comply with the Depositary Procedures (and
any such Fundamental Change Repurchase Notice delivered in compliance with the Depositary Procedures will be deemed to satisfy
the requirements of this Section 4.02(F)).

 

(iii)           
Withdrawal of Fundamental Change Repurchase Notice. A Holder that has delivered a Fundamental Change Repurchase Notice
with respect to a Note may withdraw such Fundamental Change Repurchase Notice by delivering a written notice of withdrawal to the
Paying Agent at any time before the Close of Business on the Business Day immediately before the related Fundamental Change Repurchase
Date. Such withdrawal notice must state:

 

(1)              
if such Note is a Physical Note, the certificate number of such Note;

 

(2)              
the principal amount of such Note to be withdrawn, which must be an Authorized Denomination; and

 

(3)              
the principal amount of such Note, if any, that remains subject to such Fundamental Change Repurchase Notice, which must
be an Authorized Denomination;

 

provided, however,
that if such Note is a Global Note, then such withdrawal notice must comply with the Depositary Procedures (and any such withdrawal
notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this Section 4.02(F)).

 

    -34-

     

    

 

Upon receipt of any such
withdrawal notice with respect to a Note (or any portion thereof), the Paying Agent will (x) promptly deliver a copy of such
withdrawal notice to the Company; and (y) if such Note is surrendered to the Paying Agent, cause such Note (or such portion
thereof in accordance with Section 2.11, treating such Note as having been then surrendered for partial repurchase in
the amount set forth in such withdrawal notice as remaining subject to repurchase) to be returned to the Holder thereof (or,
if applicable with respect to any Global Note, cancel any instructions for book-entry transfer to the Company, the Trustee or
the Paying Agent of the applicable beneficial interest in such Note in accordance with the Depositary Procedures).

 

(G)            Payment
of the Fundamental Change Repurchase Price. Without limiting the Company’s obligation to deposit the Fundamental Change
Repurchase Price within the time proscribed by Section 3.01(B), the Company will cause the Fundamental Change Repurchase
Price for a Note (or portion thereof) to be repurchased pursuant to a Repurchase Upon Fundamental Change to be paid to the Holder
thereof on or before the later of (i) the applicable Fundamental Change Repurchase Date; and (ii) the date (x) such Note is delivered
to the Paying Agent (in the case of a Physical Note) or (y) the Depositary Procedures relating to the repurchase, and the delivery
to the Paying Agent, of such Holder’s beneficial interest in such Note to be repurchased are complied with (in the case
of a Global Note). For the avoidance of doubt, any Special Interest payable pursuant to the proviso to Section 4.02(D)
on any Note to be repurchased pursuant to a Repurchase Upon Fundamental Change must be paid pursuant to such proviso regardless
of whether such Note is delivered or such Depositary Procedures are complied with pursuant to the first sentence of this Section
4.02(G).

 

(H)            Notwithstanding anything to the contrary in this Section 4.02, the Company will be deemed to satisfy its obligations
under this Section 4.02 if (i) one or more third parties conduct the repurchase offer and repurchase tendered Notes in a
manner that would have satisfied the requirements of this Section 4.02 if conducted directly by the Company; and (ii) an
owner of a beneficial interest in any Note repurchased by such third party or parties will not receive a lesser amount (as a result
of taxes, additional expenses or for any other reason) than such owner would have received had the Company repurchased such Note.

 

(I)              No Requirement to Conduct an Offer to Repurchase Notes if the Fundamental Change Results in the Notes Becoming Convertible
into an Amount of Cash Exceeding the Fundamental Change Repurchase Price. Notwithstanding anything to the contrary in this
Section 4.02, the Company will not be required to send a Fundamental Change Notice or issue a press release pursuant to
Section 4.02(E), or offer to repurchase or repurchase any Notes pursuant to this Section 4.02, in connection with
a Fundamental Change occurring pursuant to clause (B)(ii) (or pursuant to clause (A) that also constitutes a Fundamental
Change occurring pursuant to clause (B)(ii)) of the definition thereof, if (i) such Fundamental Change constitutes a Common
Stock Change Event whose Reference Property consists entirely of cash in U.S. dollars; (ii) immediately after such Fundamental
Change, the Notes become convertible, pursuant to Section 5.09(A) and, if applicable, Section 5.07, into consideration
that consists solely of U.S. dollars in an amount per $1,000 aggregate principal amount of Notes that equals or exceeds the Fundamental
Change Repurchase Price per $1,000 aggregate principal amount of Notes (calculated assuming that the same includes any accrued
and unpaid Special Interest to, but excluding, the latest possible Fundamental Change Repurchase Date for such Fundamental Change);
and (iii) the Company timely sends the notice relating to such Fundamental Change required pursuant to Section 5.01(C)(i)(3)(b)
and includes, in such notice, a statement that the Company is relying on this

 

    -35-

     

    

 

Section 4.02(I).

 

(J)             Compliance
with Applicable Securities Laws. To the extent applicable, the Company will comply, in all material respects, with all applicable
federal and state securities laws in connection with a Repurchase Upon Fundamental Change (including complying with Rules 13e-4
and 14e-1 under the Exchange Act and filing any required Schedule TO, to the extent applicable) so as to permit effecting such
Repurchase Upon Fundamental Change in the manner set forth in this Indenture. The Fundamental Change Repurchase Date shall be
subject to postponement in order to allow the Company to comply with applicable law as a result of changes to such applicable
law occurring after the date of this Indenture.

 

(K)            Repurchase
in Part. Subject to the terms of this Section 4.02, Notes may be repurchased pursuant to a Repurchase Upon Fundamental
Change in part, but only in Authorized Denominations. Provisions of this Section 4.02 applying to the repurchase of a Note
in whole will equally apply to the repurchase of a permitted portion of a Note.

 

Section
4.03.       Right
of the Company to Redeem the Notes.

 

(A)            No
Right to Redeem Before February 6, 2024. The Company may not redeem the Notes at its option at any time before February 6,
2024.

 

(B)             Right to Redeem the Notes on or After February 6, 2024. Subject to the terms of this Section 4.03, the Company
has the right, at its election, to redeem all, or any portion (subject to the Partial Redemption Limitation) in an Authorized Denomination,
of the Notes, at any time, and from time to time, on a Redemption Date on or after February 6, 2024 and on or before the fortieth
(40th) Scheduled Trading Day immediately before the Maturity Date, for a cash purchase price equal to the Redemption Price, but
only if the Last Reported Sale Price per share of Common Stock exceeds one hundred and thirty percent (130%) of the Conversion
Price on (i) each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading
Days ending on, and including, the Trading Day immediately before the Redemption Notice Date for such Redemption; and (ii) the
Trading Day immediately before such Redemption Notice Date. For the avoidance of doubt, the calling of any Notes for Redemption
will constitute a Make-Whole Fundamental Change with respect to such Notes pursuant to clause (B) of the definition thereof.

 

(C)            Redemption Prohibited in Certain Circumstances. If the principal amount of the Notes has been accelerated (other
than as a result of a failure to pay the related Redemption Price and any related Special Interest pursuant to the proviso to Section
4.03(E), on such Redemption Date) and such acceleration has not been rescinded on or before the Redemption Date, then (i) the
Company may not call for Redemption or otherwise redeem any Notes pursuant to this Section 4.03; and (ii) the Company will
cause any Notes theretofore surrendered for such Redemption to be returned to the Holders thereof (or, if applicable with respect
to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable
beneficial interests in such Notes in accordance with the Depositary Procedures).

 

(D)            Redemption
Date. The Redemption Date for any Redemption will be a Business Day of the Company’s choosing that is no more than sixty
five (65), nor less than forty five (45), Scheduled Trading Days after the Redemption Notice Date for such Redemption.

 

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(E)             Redemption Price. The Redemption Price for any Note called for Redemption is an amount in cash equal to the principal
amount of such Note plus any accrued and unpaid Special Interest on such Note to, but excluding, the Redemption Date for such Redemption;
provided, however, that if such Redemption Date is after a Special Interest Record Date and on or before the next
Special Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Special Interest Record Date will
be entitled, notwithstanding such Redemption, to receive, on or, at the Company’s election, before such Special Interest
Payment Date, any unpaid Special Interest that would have accrued on such Note to, but excluding, such Special Interest Payment
Date (in the case of Global Notes, payable in accordance with the Depositary Procedures) (assuming, solely for these purposes,
that such Note remained outstanding through such Special Interest Payment Date, if such Redemption Date is before such Special
Interest Payment Date); and (ii) the Redemption Price will not include any accrued and unpaid Special Interest on such Note to,
but excluding, such Redemption Date. For the avoidance of doubt, if a Special Interest Payment Date is not a Business Day within
the meaning of Section 2.05(C) and such Redemption Date occurs on the Business Day immediately after such Special Interest
Payment Date, then (x) any accrued and unpaid Special Interest on Notes to, but excluding, such Special Interest Payment Date will
be paid, in accordance with Section 2.05(C), on the next Business Day to Holders as of the Close of Business on the immediately
preceding Special Interest Record Date; and (y) the Redemption Price will include any Special Interest on Notes to be redeemed
from, and including, such Special Interest Payment Date to, but excluding, such Redemption Date.

 

(F)             Redemption Notice. To call any Notes for Redemption, the Company must (x) send to each Holder of such Notes, the
Trustee and the Paying Agent a written notice of such Redemption (a “Redemption Notice”); and (y) substantially
contemporaneously therewith, issue a press release through such national newswire service as the Company then uses (or publish
the same through such other widely disseminated public medium as the Company then uses, including its website) containing the information
set forth in the Redemption Notice.

 

Such Redemption Notice
must state:

 

(i)               that such Notes have been called for Redemption, briefly describing the Company’s Redemption right under this Indenture;

 

(ii)             
the Redemption Date for such Redemption;

 

(iii)             the Redemption Price per $1,000 principal amount of Notes for such Redemption (and, if the Redemption Date is after a Special
Interest Record Date and on or before the next Special Interest Payment Date, the amount, manner and timing of any Special Interest
payment payable pursuant to the proviso to Section 4.03(E));

 

(iv)            
the name and address of the Paying Agent and the Conversion Agent;

 

(v)              that Notes called for Redemption may be converted at any time before the Close of Business on the second (2nd) Business
Day immediately before the Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in
full, at any time until such time as the Company pays such Redemption Price in full);

 

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(vi)            the
Conversion Rate in effect on the Redemption Notice Date for such Redemption and a description and quantification of any adjustments
to the Conversion Rate that may result from such Redemption (including pursuant to Section 5.07);

 

(vii)           the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after such Redemption
Notice Date and on or before the second (2nd) Business Day before such Redemption Date; and

 

(viii)          the CUSIP and ISIN numbers, if any, of the Notes called for Redemption.

 

On or before the Redemption
Notice Date, the Company will send a copy of such Redemption Notice to the Trustee and the Paying Agent.

 

(G)            
Selection and Conversion of Notes to Be Redeemed in Part. If less than all Notes then outstanding are called for
Redemption, then:

 

(i)               the Notes to be redeemed will be selected by the Company as follows: (1) in the case of Global Notes, in accordance with
the Depositary Procedures; and (2) in the case of Physical Notes, the Trustee will select the Notes to be redeemed (in an Authorized
Denomination) by lot, on a pro rata basis or in such other manner as it shall deem appropriate and fair; and

 

(ii)             
if only a portion of a Note is subject to Redemption and such Note is converted in part, then the converted portion of such
Note will be deemed to be from the portion of such Note that was subject to Redemption.

 

(H)            Payment of the Redemption Price. Without limiting the Company’s obligation to deposit the Redemption Price
by the time proscribed by Section 3.01(B), the Company will cause the Redemption Price for a Note (or portion thereof) subject
to Redemption to be paid to the Holder thereof on or before the applicable Redemption Date. For the avoidance of doubt, any Special
Interest payable pursuant to the proviso to Section 4.03(E) on any Note (or portion thereof) subject to Redemption must
be paid pursuant to such proviso.

 

(I)             
Special Provisions for Partial Calls. If the Company elects to redeem less than all of the outstanding Notes, at
least one hundred and fifty million dollars ($150,000,000) aggregate principal amount of Notes must be outstanding and not subject
to Redemption as of the relevant Redemption Notice Date (such requirement, the “Partial Redemption Limitation”).
In addition, if the Company elects to redeem less than all of the outstanding Notes pursuant to this Section 4.03, and the
Holder of any Note, or any owner of a beneficial interest in any Global Note, is reasonably not able to determine, before the Close
of Business on the forty second (42nd) Scheduled Trading Day immediately before the Redemption Date for such Redemption, whether
such Note or beneficial interest, as applicable, is to be redeemed pursuant to such Redemption, then such Holder or owner, as applicable,
will be entitled to convert such Note or beneficial interest, as applicable, at any time before the Close of Business on the second
(2nd) Business Day immediately before such Redemption Date, and each such conversion will be deemed to be of a Note called for
Redemption for purposes of this Section 4.03 and Sections 5.01(C)(i)(4) and 5.07.

 

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Article
5.    Conversion

 

Section
5.01.      
Right to Convert.

 

(A)            Generally.
Subject to the provisions of this Article 5, each Holder may, at its option, convert such Holder’s Notes into Conversion
Consideration.

 

(B)             Conversions in Part. Subject to the terms of this Indenture, Notes may be converted in part, but only in Authorized
Denominations. Provisions of this Article 5 applying to the conversion of a Note in whole will equally apply to conversions
of a permitted portion of a Note.

 

(C)             When
Notes May Be Converted.

 

(i)              
Generally. Subject to Section 5.01(C)(ii), a Note may be converted only in the following circumstances:

 

(1)              Conversion
upon Satisfaction of Common Stock Sale Price Condition. A Holder may convert its Notes during any calendar quarter (and only
during such calendar quarter) commencing after the calendar quarter ending on June 30, 2021, if the Last Reported Sale Price per
share of Common Stock exceeds one hundred and thirty percent (130%) of the Conversion Price for each of at least twenty (20) Trading
Days (whether or not consecutive) during the thirty (30) consecutive Trading Days ending on, and including, the last Trading Day
of the immediately preceding calendar quarter.

 

(2)              Conversion
upon Satisfaction of Note Trading Price Condition. A Holder may convert its Notes during the five (5) consecutive Business
Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the “Measurement
Period”) if the Trading Price per $1,000 principal amount of Notes, as determined by the Bid Solicitation Agent (if
not the Company) following a request by a Holder in accordance with the procedures set forth below, for each Trading Day of the
Measurement Period was less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common
Stock on such Trading Day and the Conversion Rate on such Trading Day. The condition set forth in the preceding sentence is referred
to in this Indenture as the “Trading Price Condition.”

 

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The Bid Solicitation Agent
(if not the Company) will have no obligation to determine the Trading Price of the Notes unless the Company has requested
such determination in writing, and the Company will have no obligation to make such request (or seek bids itself) unless a
Holder of at least $1,000,000 aggregate principal amount of Notes (or such lesser principal amount as may be then
outstanding) provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would
be less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock and the
Conversion Rate. If such a Holder provides such evidence, then the Company will (if acting as Bid Solicitation Agent), or
will instruct the Bid Solicitation Agent to, determine the Trading Price of the Notes beginning on the next Trading Day and
on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to
ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and
the Conversion Rate on such Trading Day. If the Trading Price Condition has been met as set forth above, then the Company
will notify the Holders, the Trustee and the Conversion Agent of the same and, thereafter, the Bid Solicitation Agent (or, if
the Company is acting as the Bid Solicitation Agent, the Company) shall have no obligation to solicit bids as described in
this Section 5.01(C)(i), and the Company shall have no obligation to request the Bid Solicitation Agent (if not the
Company) to solicit such bids, in each case until another Holder requests so as described in this Section 5.01(C)(i).
If, on any Trading Day after the Trading Price Condition has been met as set forth above, the Trading Price per $1,000
principal amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale
Price per share of Common Stock on such Trading Day and the Conversion Rate on such Trading Day, then the Company will notify
the Holders, the Trustee and the Conversion Agent of the same.

 

(3)               
Conversion upon Specified Corporate Events.

 

(a)               
Certain Distributions. If the Company elects to:

 

(I)               
distribute, to all or substantially all holders of Common Stock, any rights, options or warrants (other than rights issued
pursuant to a stockholder rights plan, so long as such rights have not separated from the Common Stock and are not exercisable
until the occurrence of a triggering event, except that such rights will be deemed to be distributed under this clause (I)
upon their separation from the Common Stock or upon the occurrence of such triggering event) entitling them, for a period of not
more than sixty (60) calendar days after the record date of such distribution, to subscribe for or purchase shares of Common Stock
at a price per share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten (10)
consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced (determined
in the manner set forth in the third paragraph of Section 5.05(A)(ii)); or

 

(II)              
distribute, to all or substantially all holders of Common Stock, assets or securities of the Company or rights to purchase
the Company’s securities, which distribution per share of Common Stock has a value, as reasonably determined by the Board
of Directors, exceeding ten percent (10%) of the Last Reported Sale Price per share of Common Stock on the Trading Day immediately
before the date such distribution is announced,

 

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then, in either case, (x)
the Company will send notice of such distribution, and of the related right to convert Notes, to Holders, the Trustee and the
Conversion Agent at least forty five (45) Scheduled Trading Days before the Ex-Dividend Date for such distribution (or, if
later in the case of any such separation of rights issued pursuant to a stockholder rights plan or the occurrence of any such
triggering event under a stockholder rights plan, as soon as reasonably practicable after the Company becomes aware that such
separation or triggering event has occurred or will occur); and (y) once the Company has sent such notice, Holders may
convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately before such
Ex-Dividend Date and the Company’s announcement that such distribution will not take place; provided, however,
that the Notes will not become convertible pursuant to clause (y) above (but the Company will be required to send notice of
such distribution pursuant to clause (x) above) on account of such distribution if each Holder participates, at the same time
and on the same terms as holders of Common Stock, and solely by virtue of being a Holder, in such distribution without having
to convert such Holder’s Notes and as if such Holder held a number of shares of Common Stock equal to the product of
(i) the Conversion Rate in effect on the record date for such distribution; and (ii) the aggregate principal amount
(expressed in thousands) of Notes held by such Holder on such record date.

 

(b)              
Certain Corporate Events. If a Fundamental Change, Make-Whole Fundamental Change (other than a Make-Whole Fundamental
Change pursuant to clause (B) of the definition thereof) or Common Stock Change Event occurs (other than a merger or other
business combination transaction that is effected solely to change the Company’s jurisdiction of incorporation to the United
States, any State thereof or the District of Columbia and that does not constitute a Fundamental Change or a Make-Whole Fundamental
Change), then, in each case, Holders may convert their Notes at any time from, and including, the date that the Company sends (or,
if earlier, the date the Company is required to send) notice of such transaction or event pursuant to the immediately following
sentence to, and including, the thirty fifth (35th) Trading Day after such effective date (or, if such transaction or event also
constitutes a Fundamental Change (other than an Exempted Fundamental Change), to, but excluding, the related Fundamental Change
Repurchase Date); provided, however, that if the Company does not provide the notice referred to in the immediately
following sentence by such effective date, then the last day on which the Notes are convertible pursuant to this sentence will
be extended by the number of Business Days from, and including, such effective date to, but excluding, the date the Company provides
such notice. No later than such effective date, the Company will send notice to the Holders, the Trustee and the Conversion Agent
of such transaction or event, such effective date and the related right to convert Notes.

 

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(4)              Conversion
upon Redemption. If the Company calls any Note for Redemption, then the Holder of such Note called for Redemption may
convert such Note at any time from the date the Company delivers the Redemption Notice until the Close of Business on the
second (2nd) Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption
Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in
full).

 

(5)              Conversions
During Free Convertibility Period. A Holder may convert its Notes at any time from, and including, August 1, 2025 until the
Close of Business on the second (2nd) Scheduled Trading Day immediately before the Maturity Date.

 

For the avoidance of doubt, the
Notes may become convertible pursuant to any one or more of the preceding sub-paragraphs of this Section 5.01(C)(i) and
the Notes ceasing to be convertible pursuant to a particular sub-paragraph of this Section 5.01(C)(i) will not preclude
the Notes from being convertible pursuant to any other sub-paragraph of this Section 5.01(C)(i).

 

(ii)             
 Limitations and Closed Periods. Notwithstanding anything to the contrary in this Indenture or the Notes:

 

(1)              
Notes may be surrendered for conversion only after the Open of Business and before the Close of Business on a day that is
a Business Day;

 

(2)              
in no event may any Note be converted after the Close of Business on the second (2nd) Scheduled Trading Day immediately
before the Maturity Date;

 

(3)              
if the Company calls any Note for Redemption pursuant to Section 4.03, then the Holder of such Note may not convert
such Note after the Close of Business on the second (2nd) Business Day immediately before the applicable Redemption Date, except
to the extent the Company fails to pay the Redemption Price for such Note in accordance with this Indenture; and

 

(4)              
if a Fundamental Change Repurchase Notice is validly delivered pursuant to Section 4.02(F) with respect to any Note,
then such Note may not be converted, except to the extent (a) such notice is withdrawn in accordance with Section 4.02(F);
or (b) the Company fails to pay the Fundamental Change Repurchase Price for such Note in accordance with this Indenture.

 

Section
5.02.       Conversion
Procedures.

 

(A)            Generally.

 

(i)               Global Notes. To convert a beneficial interest in a Global Note that is convertible pursuant to Section 5.01(C),
the owner of such beneficial interest must (1) comply with the Depositary Procedures for converting such beneficial interest (at
which time such conversion will become irrevocable); and (2) pay any amounts due pursuant to Section 5.02(D) or Section
5.02(E).

 

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(ii)              Physical
Notes. To convert all or a portion of a Physical Note that is convertible pursuant to Section 5.01(C), the Holder
of such Note must (1) complete, manually sign and deliver to the Conversion Agent the notice of conversion attached to such
Physical Note or a facsimile of such notice of conversion; (2) deliver such Physical Note to the Conversion Agent (at which
time such conversion will become irrevocable); (3) furnish any endorsements and transfer documents that the Company or the
Conversion Agent may require; and (4) pay any amounts due pursuant to Section 5.02(D) or Section 5.02(E) (a
notice pursuant to the Depositary Procedures as set forth in Section 5.02(A)(i) or a notice of conversion attached to
a Physical Note as set forth in this Section 5.02(A)(ii), a “Notice of Conversion”).

 

(B)             Effect of Converting a Note. At the Close of Business on the Conversion Date for a Note (or any portion thereof)
to be converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration
or any Special Interest due, pursuant to Section 5.03(B) or 5.02(D), upon such conversion) be deemed to cease to
be outstanding (and, for the avoidance of doubt, no Person will be deemed to be a Holder of such Note (or such portion thereof)
as of the Close of Business on such Conversion Date), except to the extent provided in Section 5.02(D).

 

(C)             Holder of Record of Conversion Shares. The Person in whose name any share of Common Stock is issuable upon conversion
of any Note will be deemed to become the holder of record of such share as of the Close of Business on (i) the Conversion Date
for such conversion, in the case of Physical Settlement; or (ii) the last VWAP Trading Day of the Observation Period for such conversion,
in the case of Combination Settlement.

 

(D)            Interest
Payable upon Conversion in Certain Circumstances. If the Conversion Date of a Note is after a Special Interest Record
Date and before the next Special Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such
Special Interest Record Date will be entitled, notwithstanding such conversion (and, for the avoidance of doubt,
notwithstanding anything set forth in the proviso to this sentence), to receive, on or, at the Company’s election,
before such Special Interest Payment Date, any unpaid Special Interest that would have accrued on such Note to, but
excluding, such Special Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding
through such Special Interest Payment Date); and (ii) the Holder surrendering such Note for conversion must deliver to the
Conversion Agent, at the time of such surrender, an amount of cash equal to the amount of any such Special Interest referred
to in clause (i) above; provided, however, that the Holder surrendering such Note for conversion need not
deliver such cash (w) if the Company has specified a Redemption Date that is after such Special Interest Record Date and on
or before the second (2nd) Business Day immediately after such Special Interest Payment Date; (x) if such Conversion Date
occurs after the Special Interest Record Date immediately before the Maturity Date; (y) if the Company has specified a
Fundamental Change Repurchase Date that is after such Special Interest Record Date and on or before the Business Day
immediately after such Special Interest Payment Date; or (z) to the extent of any overdue Special Interest, if any overdue
Special Interest exists at the time of such surrender. For the avoidance of doubt, as a result of, and without limiting the
generality of, the foregoing, if a Note is converted with a Conversion Date that is after the Special Interest Record Date
immediately before the Maturity Date (if and to the extent Special Interest is payable on the Maturity Date), any Redemption
Date (if and to the extent Special Interest is payable on any Redemption Date) described in clause (w) above and any
Fundamental Change Repurchase Date (if and to the extent Special Interest is payable on any Fundamental Change Repurchase
Date) described in clause (y) above, then the Company will pay, as provided above, any Special Interest that would have
accrued on such Note to, but excluding, the Maturity Date or other applicable Special Interest Payment Date to Holders as of
the Close of Business on the Special Interest Record Date immediately before the Maturity Date or other applicable Special
Interest Payment Date. For the avoidance of doubt, if the Conversion Date of a Note to be converted is on any Special
Interest Payment Date, then the Holder of such Note at the Close of Business on the Special Interest Record Date immediately
before such Special Interest Payment Date will be entitled to receive, on such Special Interest Payment Date, any unpaid
Special Interest that has accrued on such Note to, but excluding, such Special Interest Payment Date, and such Note, when
surrendered for conversion, need not be accompanied by any cash amount pursuant to the first sentence of this Section
5.02(D).

 

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(E)             Taxes and Duties. If a Holder converts a Note, the Company will pay any documentary, stamp or similar issue or transfer
tax or duty due on the issue of any shares of Common Stock upon such conversion; provided, however, that if any tax
or duty is due because such Holder requested such shares to be registered in a name other than such Holder’s name, then such
Holder will pay such tax or duty and, until having received a sum sufficient to pay such tax or duty, the Conversion Agent may
refuse to deliver any such shares to be registered in a name other than that of such Holder.

 

(F)             Conversion Agent to Notify Company of Conversions. If any Note is submitted for conversion to the Conversion Agent
or the Conversion Agent receives any written notice of conversion with respect to a Note, then the Conversion Agent will promptly
(and, in any event, no later than the Business Day following the date the Conversion Agent receives such Note or notice) notify
the Company and the Trustee of such occurrence, together with any other information reasonably requested by the Company, and will
cooperate with the Company to determine the Conversion Date for such Note.

 

Section
5.03.       Settlement
upon Conversion.

 

(A)            Settlement Method. Upon the conversion of any Note, the Company will settle such conversion by paying or delivering,
as applicable and as provided in this Article 5, either (x) shares of Common Stock, together, if applicable, with cash in
lieu of fractional shares as provided in Section 5.03(B)(i)(1) (a “Physical Settlement”); (y) solely
cash as provided in Section 5.03(B)(i)(2) (a “Cash Settlement”); or (z) a combination of cash and shares
of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in Section 5.03(B)(i)(3) (a
 “Combination Settlement”).

 

(i)               The Company’s Right to Elect Settlement Method. The Company will have the right to elect the Settlement Method
applicable to any conversion of a Note; provided, however, that:

 

(1)               subject
to clause (3) below, all conversions of Notes with a Conversion Date that occurs on or after August 1, 2025 will be settled
using the same Settlement Method, and the Company will send notice of such Settlement Method to Holders (with a written copy to
the Trustee) and the Conversion Agent (if other than the Trustee) no later than the Open of Business on August 1, 2025;

 

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(2)               subject
to clause (3) below, if the Company elects a Settlement Method with respect to the conversion of any Note whose Conversion
Date occurs before August 1, 2025, then the Company will send notice of such Settlement Method to the Holder of such Note (with
a written copy to the Trustee) and the Conversion Agent (if other than the Trustee) no later than the Close of Business on the
Business Day immediately after such Conversion Date;

 

(3)              
if any Notes are called for Redemption, then (1) the Company will specify, in the related Redemption Notice (and, in the
case of a Redemption of less than all outstanding Notes, in a notice simultaneously sent to all Holders of Notes not called for
Redemption) sent pursuant to Section 4.03(F), the Settlement Method that will apply to all conversions of Notes with a Conversion
Date that occurs on or after the related Redemption Notice Date and on or before the second (2nd) Business Day before the related
Redemption Date; and (2) if such Redemption Date occurs on or after August 1, 2025, then such Settlement Method must be the same
Settlement Method that, pursuant to clause (1) above, applies to all conversions of Notes with a Conversion Date that occurs
on or after August 1, 2025;

 

(4)              
the Company will use the same Settlement Method for all conversions of Notes with the same Conversion Date (and, for the
avoidance of doubt, the Company will not be obligated to use the same Settlement Method with respect to conversions of Notes with
different Conversion Dates, except as provided in clause (1) or (3) above);

 

(5)              
if the Company does not timely elect a Settlement Method with respect to the conversion of a Note, then the Company will
be deemed to have elected the Default Settlement Method (and, for the avoidance of doubt, the failure to timely make such election
will not constitute a Default or Event of Default);

 

(6)               if the Company timely elects Combination Settlement with respect to the conversion of a Note but does not timely notify
the Holder of such Note, the Trustee and the Conversion Agent (if other than the Trustee) in writing of the applicable Specified
Dollar Amount, then the Specified Dollar Amount for such conversion will be deemed to be $1,000 per $1,000 principal amount of
Notes (and, for the avoidance of doubt, the failure to timely send such notification will not constitute a Default or Event of
Default); and

 

(7)              
the Settlement Method will be subject to Sections 4.03(D), 5.09(A)(2) and 5.01(C)(i)(3)(a).

 

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(ii)             The
Company’s Right to Irrevocably Fix the Settlement Method. The Company will have the right, exercisable at its
election by sending notice of such exercise to the Holders (with a copy to the Trustee and the Conversion Agent), to (1)
irrevocably fix the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or
after the date such notice is sent to Holders; or (2) irrevocably elect Combination Settlement to apply to all conversions of
Notes with a Conversion Date that occurs on or after the date such notice is sent to Holders, and eliminate a Specified
Dollar Amount or range of Specified Dollar Amounts that will apply to such conversions, provided, in each case, that
(w) the Settlement Method(s) so elected pursuant to clause (1) or (2) above must be a Settlement Method or
Settlement Method(s), as applicable, that the Company is then permitted to elect (for the avoidance of doubt, including
pursuant to, and subject to, the other provisions of this Section 5.03(A)); (x) no such irrevocable election will
affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any Note pursuant to this
Indenture (including pursuant to Section 8.01(G) or this Section 5.03(A)); (y) upon any such irrevocable
election pursuant to clause (1) above, the Default Settlement Method will automatically be deemed to be set to the
Settlement Method so fixed; and (z) upon any such irrevocable election pursuant to clause (2) above, the Company will,
if needed, simultaneously change the Default Settlement Method to Combination Settlement with a Specified Dollar Amount that
is consistent with such irrevocable election. Such notice, if sent, must set forth the applicable Settlement Method and
expressly state that the election is irrevocable and applicable to all conversions of Notes with a Conversion Date that
occurs on or after the date such notice is sent to Holders. For the avoidance of doubt, such an irrevocable election, if
made, will be effective without the need to amend this Indenture or the Notes, including pursuant to Section 8.01(G)
(it being understood, however, that the Company may nonetheless choose to execute such an amendment at its option).

 

(iii)            Requirement
to Publicly Disclose the Fixed or Default Settlement Method. If the Company changes the Default Settlement Method pursuant
to clause (x) of the proviso to the definition of such term or irrevocably fixes the Settlement Method(s) pursuant Section
5.03(A)(ii), then the Company will either post the Default Settlement Method or fixed Settlement Method(s), as applicable,
on its website or disclose the same in a Current Report on Form 8-K (or any successor form) that is filed with, or furnished to,
the SEC.

 

(B)             Conversion
Consideration.

 

(i)               Generally.
Subject to Section 5.03(B)(ii) and Section 5.03(B)(iii), the type and amount of consideration (the “Conversion
Consideration”) due in respect of each $1,000 principal amount of a Note to be converted will be as follows:

 

(1)              
if Physical Settlement applies to such conversion, a number of shares of Common Stock equal to the Conversion Rate in effect
on the Conversion Date for such conversion;

 

(2)              
if Cash Settlement applies to such conversion, cash in an amount equal to the sum of the Daily Conversion Values for each
VWAP Trading Day in the Observation Period for such conversion; or

 

(3)               if
Combination Settlement applies to such conversion, consideration consisting of (a) a number of shares of Common Stock equal to
the sum of the Daily Share Amounts for each VWAP Trading Day in the Observation Period for such conversion; and (b) an amount
of cash equal to the sum of the Daily Cash Amounts for each VWAP Trading Day in such Observation Period.

 

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(ii)             
Cash in Lieu of Fractional Shares. If Physical Settlement or Combination Settlement applies to the conversion of
any Note and the number of shares of Common Stock deliverable pursuant to Section 5.03(B)(i) upon such conversion is not
a whole number, then such number will be rounded down to the nearest whole number and the Company will deliver, in addition to
the other consideration due upon such conversion, cash in lieu of the related fractional share in an amount equal to the product
of (1) such fraction and (2) (x) the Daily VWAP on the Conversion Date for such conversion (or, if such Conversion Date is not
a VWAP Trading Day, the immediately preceding VWAP Trading Day), in the case of Physical Settlement; or (y) the Daily VWAP on the
last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement.

 

(iii)           
Conversion of Multiple Notes by a Single Holder. If a Holder converts more than one (1) Note on a single Conversion
Date, then the Conversion Consideration due in respect of such conversion will (in the case of any Global Note, to the extent permitted
by, and practicable under, the Depositary Procedures) be computed based on the total principal amount of Notes converted on such
Conversion Date by such Holder.

 

(iv)            
Notice of Calculation of Conversion Consideration. If Cash Settlement or Combination Settlement applies to the conversion
of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading
Day of the applicable Observation Period and will promptly thereafter send notice to the Trustee and the Conversion Agent of the
same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent will have any duty to make
any such determination.

 

(C)              Delivery
of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.09, the Company will pay or
deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Holder as follows: (i) if
Cash Settlement or Combination Settlement applies to such conversion, on the second (2nd) Business Day immediately after the
last VWAP Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement applies to such
conversion, on the second (2nd) Business Day immediately after the Conversion Date for such conversion; provided, however,
that if Physical Settlement applies to the conversion of any Note with a Conversion Date that is after the Special Interest
Record Date (if Special Interest were payable) immediately before the Maturity Date, then, solely for purposes of such
conversion, (x) the Company will pay or deliver, as applicable, the Conversion Consideration due upon such conversion on the
Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day); and (y) the Conversion Date will
instead be deemed to be the second (2nd) Business Day immediately before the Maturity Date.

 

    -47- 

     

    

 

(D)             Deemed
Payment of Principal and Special Interest; Settlement of Accrued Special Interest Notwithstanding Conversion. If a Holder
converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid Special Interest
on such Note, and, except as provided in Section 5.02(D), the Company’s delivery of the Conversion Consideration
due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the
principal of, and accrued and unpaid Special Interest, if any, on, such Note to, but excluding the Conversion Date. As a
result, except as provided in Section 5.02(D), any accrued and unpaid Special Interest on a converted Note will be
deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, subject to Section 5.02(D),
if the Conversion Consideration for a Note consists of both cash and shares of Common Stock, then any accrued and unpaid
Special Interest that is deemed to be paid therewith will be deemed to be paid first out of such cash.

 

Section
5.04.     Shares
to be Fully Paid.

 

The Company shall provide,
free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common
Stock to provide for conversion of the Notes from time to time as such Notes are presented for conversion (assuming delivery of
the maximum number of Additional Shares pursuant to Section 5.07 and that at the time of computation of such number of shares,
all such Notes would be converted by a single Holder and that Physical Settlement were applicable). Each Conversion Share, if any, delivered upon conversion of any Note will be duly and validly issued, fully paid, non-assessable and free
of any lien or adverse claim (except to the extent of any lien or adverse claim created by the action or inaction of the Holder of such
Note or the Person to whom such Conversion Share will be delivered). If the Common Stock is then listed on any securities exchange, or
quoted on any inter-dealer quotation system, then the Company will cause each Conversion Share, when delivered upon conversion of any
Note, to be admitted for listing on such exchange or quotation on such system.

 

Section
5.05.    
Adjustments to the Conversion Rate.

 

(A)            
Events Requiring an Adjustment to the Conversion Rate. The Conversion Rate will be adjusted from time to time as
follows:

 

(i)                
Stock Dividends, Splits and Combinations. If the Company issues solely shares of Common Stock as a dividend or distribution
on all or substantially all shares of the Common Stock, or if the Company effects a stock split or a stock combination of the Common
Stock (in each case excluding an issuance solely pursuant to a Common Stock Change Event, as to which Section 5.09 will
apply), then the Conversion Rate will be adjusted based on the following formula:

 

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution,
or immediately before the Open of Business on the effective date of such stock split or stock combination, as applicable;

 

		CR1	=	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or effective date, as applicable;

 

		OS0	=	the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date or effective
date, as applicable, without giving effect to such dividend, distribution, stock split or stock combination; and

 

		OS1	=	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, stock split or
stock combination.

 

    -48- 

     

    

 

If any dividend, distribution,
stock split or stock combination of the type described in this Section 5.05(A)(i) is declared or announced, but not so paid
or made, then the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to pay such
dividend or distribution or to effect such stock split or stock combination, to the Conversion Rate that would then be in effect
had such dividend, distribution, stock split or stock combination not been declared or announced.

 

(ii)             
Rights, Options and Warrants. If the Company distributes, to all or substantially all holders of Common Stock, rights,
options or warrants (other than rights issued or otherwise distributed pursuant to a stockholder rights plan, as to which Sections
5.05(A)(iii)(1) and 5.05(F) will apply) entitling such holders, for a period of not more than sixty (60) calendar days
after the record date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less
than the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on,
and including, the Trading Day immediately before the date such distribution is announced, then the Conversion Rate will be increased
based on the following formula:

 

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;

 

		CR1	=	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

		OS	=	the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date;

 

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

 

		Y	=	a number of shares of Common Stock obtained by dividing (x) the aggregate price payable to exercise such rights, options or warrants
by (y) the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending
on, and including, the Trading Day immediately before the date such distribution is announced.

 

    -49- 

     

    

 

To the extent such rights,
options or warrants are not so distributed, the Conversion Rate will be readjusted to the Conversion Rate that would then be
in effect had the increase to the Conversion Rate for such distribution been made on the basis of only the rights, options or
warrants, if any, actually distributed. In addition, to the extent that shares of Common Stock are not delivered after the
expiration of such rights, options or warrants (including as a result of such rights, options or warrants not being
exercised), the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the increase to
the Conversion Rate for such distribution been made on the basis of delivery of only the number of shares of Common Stock
actually delivered upon exercise of such rights, option or warrants.

 

For purposes of this Section
5.05(A)(ii) and Section 5.01(C)(i)(3)(a)(I), in determining whether any rights, options or warrants entitle holders
of Common Stock to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last
Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading
Day immediately before the date the distribution of such rights, options or warrants is announced, and in determining the aggregate
price payable to exercise such rights, options or warrants, there will be taken into account any consideration the Company receives
for such rights, options or warrants and any amount payable on exercise thereof, with the value of such consideration, if not cash,
to be determined by the Board of Directors.

 

(iii)           
Spin-Offs and Other Distributed Property.

 

(1)              
Distributions Other than Spin-Offs. If the Company distributes shares of its Capital Stock, evidences of its indebtedness
or other assets or property of the Company, or rights, options or warrants to acquire Capital Stock of the Company or other securities,
to all or substantially all holders of the Common Stock, excluding:

 

(u)       dividends,
distributions, rights, options or warrants for which an adjustment to the Conversion Rate is required pursuant to Section 5.05(A)(i)
or 5.05(A)(ii);

 

(v)       dividends
or distributions paid exclusively in cash for which an adjustment to the Conversion Rate is required pursuant to Section 5.05(A)(iv);

 

(w)       rights
issued or otherwise distributed pursuant to a stockholder rights plan, except to the extent provided in Section 5.05(F);

 

(x)       Spin-Offs
for which an adjustment to the Conversion Rate is required pursuant to Section 5.05(A)(iii)(2);

 

(y)       a
distribution solely pursuant to a tender offer or exchange offer for shares of Common Stock, as to which Section 5.05(A)(v)
will apply; and

 

(z)       a
distribution solely pursuant to a Common Stock Change Event, as to which Section 5.09 will apply,

 

    -50- 

     

    

 

then the Conversion Rate will be
increased based on the following formula:

 

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;

 

		CR1	=	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

		SP	=	the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and
including, the Trading Day immediately before such Ex-Dividend Date; and

 

		FMV	=	the fair market value (as determined by the Board of Directors), as of such Ex-Dividend Date, of the shares of Capital Stock,
evidences of indebtedness, assets, property, rights, options or warrants distributed per share of Common Stock pursuant to such
distribution;

 

provided, however,
that if FMV is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion Rate, each
Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such distribution, at
the same time and on the same terms as holders of Common Stock, the amount and kind of shares of Capital Stock, evidences of indebtedness,
assets, property, rights, options or warrants that such Holder would have received if such Holder had owned, on such record date,
a number of shares of Common Stock equal to the Conversion Rate in effect on such record date.

 

To the extent such distribution
is not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment
been made on the basis of only the distribution, if any, actually made or paid.

 

(2)               Spin-Offs.
If the Company distributes or dividends shares of Capital Stock of any class or series, or similar equity interests, of or
relating to an Affiliate, a Subsidiary or other business unit of the Company to all or substantially all holders of the
Common Stock (other than solely pursuant to (x) a Common Stock Change Event, as to which Section 5.09 will apply; or
(y) a tender offer or exchange offer for shares of Common Stock, as to which Section 5.05(A)(v) will apply), and such
Capital Stock or equity interests are listed or quoted (or will be listed or quoted upon the consummation of the transaction)
on a U.S. national securities exchange (a “Spin-Off”), then the Conversion Rate will be increased based on
the following formula:

 

 

    -51- 

     

    

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Close of Business on the last Trading Day of the Spin-Off Valuation Period
for such Spin-Off;

 

		CR1	=	the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Spin-Off Valuation Period;

 

		FMV	=	the product of (x) the average of the Last Reported Sale Prices per share or unit of the Capital Stock or equity interests distributed
in such Spin-Off over the ten (10) consecutive Trading Day period (the “Spin-Off Valuation Period”) beginning
on, and including, the Ex-Dividend Date for such Spin-Off (such average to be determined as if references to Common Stock in the
definitions of Last Reported Sale Price, Trading Day and Market Disruption Event were instead references to such Capital Stock
or equity interests); and (y) the number of shares or units of such Capital Stock or equity interests distributed per share of
Common Stock in such Spin-Off; and

 

		SP	=	the average of the Last Reported Sale Prices per share of Common Stock for each Trading Day in the Spin-Off Valuation Period.

 

Notwithstanding anything to the
contrary in this Section 5.05(A)(iii)(2), (i) if any VWAP Trading Day of the Observation Period for a Note whose conversion
will be settled pursuant to Cash Settlement or Combination Settlement occurs during the Spin-Off Valuation Period for such Spin-Off,
then, solely for purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, such Spin-Off Valuation
Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Ex-Dividend Date for such
Spin-Off to, and including, such VWAP Trading Day; and (ii) if the Conversion Date for a Note whose conversion will be settled
pursuant to Physical Settlement occurs during the Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining
the Conversion Consideration for such conversion, such Spin-Off Valuation Period will be deemed to consist of the Trading Days
occurring in the period from, and including, the Ex-Dividend Date for such Spin-Off to, and including, such Conversion Date.

 

    -52- 

     

    

 

To the extent any dividend or distribution
of the type set forth in this Section 5.05(A)(iii)(2) is declared but not made or paid, the Conversion Rate will be readjusted
to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the dividend or distribution,
if any, actually made or paid.

 

(iv)            
Cash Dividends or Distributions. If any cash dividend or distribution is made to all or substantially all holders
of Common Stock, then the Conversion Rate will be increased based on the following formula:

 

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution;

 

		CR1	=	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

		SP	=	the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before such Ex-Dividend Date; and

 

		D	=	the cash amount distributed per share of Common Stock in such dividend or distribution;

 

provided, however,
that if D is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion Rate, each
Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution,
at the same time and on the same terms as holders of Common Stock, the amount of cash that such Holder would have received if such
Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record
date.

 

To the extent such dividend or
distribution is declared but not made or paid, the Conversion Rate will be readjusted to the Conversion Rate that would then be
in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid.

 

(v)               Tender
Offers or Exchange Offers. If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or
exchange offer for shares of Common Stock, and the value (determined as of the Expiration Time by the Board of Directors) of
the cash and other consideration paid per share of Common Stock in such tender or exchange offer exceeds the Last Reported
Sale Price per share of Common Stock on the Trading Day immediately after the last date (the “Expiration
Date”) on which tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended),
then the Conversion Rate will be increased based on the following formula:

 

 

    -53- 

     

    

 

where:

 

		CR0	=	the Conversion Rate in effect immediately before the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation
Period for such tender or exchange offer;

 

		CR1	=	the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation
Period;

 

		AC	=	the aggregate value (determined as of the time (the “Expiration Time”) such tender or exchange offer expires
by the Board of Directors) of all cash and other consideration paid for shares of Common Stock purchased or exchanged in such
tender or exchange offer;

 

		OS0	=	the number of shares of Common Stock outstanding immediately before the Expiration Time (including all shares of Common Stock
accepted for purchase or exchange in such tender or exchange offer);

 

		OS1	=	the number of shares of Common Stock outstanding immediately after the Expiration Time (excluding all shares of Common Stock accepted
for purchase or exchange in such tender or exchange offer); and

 

		SP	=	the average of the Last Reported Sale Prices per share of Common Stock over the ten (10) consecutive Trading Day period (the “Tender/Exchange
Offer Valuation Period”) beginning on, and including, the Trading Day immediately after the Expiration Date;

 

provided, however,
that the Conversion Rate will in no event be adjusted down pursuant to this Section 5.05(A)(v), except to the extent
provided in the immediately following paragraph. Notwithstanding anything to the contrary in this Section 5.05(A)(v),
(i) if any VWAP Trading Day of the Observation Period for a Note whose conversion will be settled pursuant to Cash Settlement
or Combination Settlement occurs during the Tender/Exchange Offer Valuation Period for such tender or exchange offer, then,
solely for purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, such Tender/Exchange
Offer Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Trading
Day immediately after the Expiration Date for such tender or exchange offer to, and including, such VWAP Trading Day; and
(ii) if the Conversion Date for a Note whose conversion will be settled pursuant to Physical Settlement occurs during the
Tender/Exchange Offer Valuation Period for such tender or exchange offer, then, solely for purposes of determining the
Conversion Consideration for such conversion, such Tender/Exchange Offer Valuation Period will be deemed to consist of the
Trading Days occurring in the period from, and including, the Trading Day immediately after the Expiration Date to, and
including, such Conversion Date.

 

    -54- 

     

    

 

To the extent such tender or
exchange offer is announced but not consummated (including as a result of the Company being precluded from consummating such tender
or exchange offer under applicable law), or any purchases or exchanges of shares of Common Stock in such tender or exchange offer
are rescinded, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been
made on the basis of only the purchases or exchanges of shares of Common Stock, if any, actually made, and not rescinded, in such
tender or exchange offer.

 

(B)             
No Adjustments in Certain Cases.

 

(i)                
Where Holders Participate in the Transaction or Event Without Conversion. Notwithstanding anything to the contrary
in Section 5.05(A), the Company will not be obligated to adjust the Conversion Rate on account of a transaction or other
event otherwise requiring an adjustment pursuant to Section 5.05(A) (other than a stock split or combination of the type
set forth in Section 5.05(A)(i) or a tender or exchange offer of the type set forth in Section 5.05(A)(v)) if each
Holder participates, at the same time and on the same terms as holders of Common Stock, and solely by virtue of being a Holder
of Notes, in such transaction or event without having to convert such Holder’s Notes and as if such Holder held a number
of shares of Common Stock equal to the product of (i) the Conversion Rate in effect on the related record date; and (ii) the aggregate
principal amount (expressed in thousands) of Notes held by such Holder on such date.

 

(ii)             
Certain Events. The Company will not be required to adjust the Conversion Rate except as provided in Section 5.05
or Section 5.07. Without limiting the foregoing, the Company will not be obligated to adjust the Conversion Rate on account
of:

 

(1)              
except as otherwise provided in Section 5.05, the sale of shares of Common Stock for a purchase price that is less
than the market price per share of Common Stock or less than the Conversion Price;

 

(2)              
the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends
or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock
under any such plan;

 

(3)              
the issuance of any shares of Common Stock or options or rights to purchase shares of Common Stock pursuant to any present
or future employee, director or consultant benefit plan or program of, or assumed by, the Company or any of its Subsidiaries;

 

(4)              
the issuance of any shares of Common Stock pursuant to any option, warrant, right or convertible or exchangeable security
of the Company outstanding as of the Issue Date;

 

    -55- 

     

    

 

(5)              
the repurchase of any shares of Common Stock pursuant to an open market share purchase program or other buyback transaction,
including structured or derivative transactions such as accelerated share repurchase transactions or similar forward derivatives,
in each case that is not subject to Section 5.05(A)(v);

 

(6)              
solely a change in the par value of the Common Stock; or

 

(7)              
accrued and unpaid Special Interest, if any, on the Notes.

 

(C)             
[Reserved.]

 

(D)            
Adjustments Not Yet Effective. Notwithstanding anything to the contrary in this Indenture or the Notes, if:

 

(i)                a Note is to be converted pursuant to Physical Settlement or Combination Settlement;

 

(ii)             
the record date, effective date or Expiration Time for any event that requires an adjustment to the Conversion Rate pursuant
to Section 5.05(A) has occurred on or before the Conversion Date for such conversion (in the case of Physical Settlement)
or on or before any VWAP Trading Day in the Observation Period for such conversion (in the case of Combination Settlement), but
an adjustment to the Conversion Rate for such event has not yet become effective as of such Conversion Date or VWAP Trading Day,
as applicable;

 

(iii)           
the Conversion Consideration due upon such conversion includes any whole shares of Common Stock (in the case of Physical
Settlement) or due in respect of such VWAP Trading Day includes any whole or fractional shares of Common Stock (in the case of
Combination Settlement); and

 

(iv)            
such shares are not entitled to participate in such event (because they were not held on the related record date or otherwise),

 

then, solely for purposes of such conversion,
the Company will, without duplication, give effect to such adjustment on such Conversion Date (in the case of Physical Settlement)
or such VWAP Trading Day (in the case of Combination Settlement). In such case, if the date on which the Company is otherwise required
to deliver the consideration due upon such conversion is before the first date on which the amount of such adjustment can be determined,
then the Company will delay the settlement of such conversion until the second (2nd) Business Day after such first date.

 

(E)             
Conversion Rate Adjustments where Converting Holders Participate in the Relevant Transaction or Event. Notwithstanding
anything to the contrary in this Indenture or the Notes, if:

 

(i)                
a Conversion Rate adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date pursuant to Section
5.05(A);

 

    -56- 

     

    

 

(ii)             
 a Note is to be converted pursuant to Physical Settlement or Combination Settlement;

 

(iii)           
  the Conversion Date for such conversion (in the case of Physical Settlement) or any VWAP Trading Day in the Observation
Period for such conversion (in the case of Combination Settlement) occurs on or after such Ex-Dividend Date and on or before the
related record date;

 

(iv)            
the Conversion Consideration due upon such conversion includes any whole shares of Common Stock (in the case of Physical
Settlement) or due in respect of such VWAP Trading Day includes any whole or fractional shares of Common Stock (in the case of
Combination Settlement), in each case based on a Conversion Rate that is adjusted for such dividend or distribution; and

 

(v)              
such shares would be entitled to participate in such dividend or distribution (including pursuant to Section 5.02(C)),

 

then (x) in the case of Physical Settlement,
such Conversion Rate adjustment will not be given effect for such conversion and the shares of Common Stock issuable upon such
conversion based on such unadjusted Conversion Rate will not be entitled to participate in such dividend or distribution, but there
will be added, to the Conversion Consideration otherwise due upon such conversion, the same kind and amount of consideration that
would have been delivered in such dividend or distribution with respect to such shares of Common Stock had such shares been entitled
to participate in such dividend or distribution; and (y) in the case of Combination Settlement, the Conversion Rate adjustment
relating to such Ex-Dividend Date will be made for such conversion in respect of such VWAP Trading Day, but the shares of Common
Stock issuable with respect to such VWAP Trading Day based on such adjusted Conversion Rate will not be entitled to participate
in such dividend or distribution.

 

(F)             
Stockholder Rights Plans. If any shares of Common Stock are to be issued upon conversion of any Note and, at the
time of such conversion, the Company has in effect any stockholder rights plan, then the Holder of such Note will be entitled to
receive, in addition to, and concurrently with the delivery of, the Conversion Consideration otherwise payable under this Indenture
upon such conversion, the rights set forth in such stockholder rights plan, unless such rights have separated from the Common Stock
at such time, in which case, and only in such case, the Conversion Rate will be adjusted pursuant to Section 5.05(A)(iii)(1)
on account of such separation as if, at the time of such separation, the Company had made a distribution of the type referred to
in such Section to all holders of the Common Stock, subject to potential readjustment in accordance with the last paragraph of
Section 5.05(A)(iii)(1).

 

(G)               
Limitation on Effecting Transactions Resulting in Certain Adjustments. The Company will not engage in or be a party to
any transaction or event that would require the Conversion Rate to be adjusted pursuant to Section 5.05(A) or Section
5.07 to an amount that would result in the Conversion Price per share of Common Stock being less than the par value per share
of Common Stock.

 

(H)             Equitable
Adjustments to Prices. Whenever any provision of this Indenture requires the Company to calculate the average of the Last
Reported Sale Prices, or any function thereof, over a period of multiple days (including to calculate the Stock Price or an
adjustment to the Conversion Rate), or to calculate Daily VWAPs over an Observation Period, the Company will make
proportionate adjustments, if any, to such calculations to account for any adjustment to the Conversion Rate pursuant to Section
5.05(A)(i) that becomes effective, or any event requiring such an adjustment to the Conversion Rate where the Ex-Dividend
Date or effective date, as applicable, of such event occurs, at any time during such period or Observation Period, as
applicable.

 

    -57- 

     

    

 

(I)               
Calculation of Number of Outstanding Shares of Common Stock. For purposes of Section 5.05(A), the number of
shares of Common Stock outstanding at any time will (i) include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock; and (ii) exclude shares of Common Stock held in the Company’s treasury (unless the
Company pays any dividend or makes any distribution on shares of Common Stock held in its treasury).

 

(J)               
Calculations. All calculations with respect to the Conversion Rate and adjustments thereto will be made to the nearest
1/10,000th of a share of Common Stock (with 5/100,000ths rounded upward).

 

(K)            
Notice of Conversion Rate Adjustments. Upon the effectiveness of any adjustment to the Conversion Rate pursuant to
Section 5.05(A), the Company will promptly send written notice to the Holders, the Trustee and the Conversion Agent containing
(i) a brief description of the transaction or other event on account of which such adjustment was made; (ii) the Conversion Rate
in effect immediately after such adjustment; and (iii) the effective time of such adjustment.

 

Section
5.06.    
Voluntary Adjustments.

 

(A)            
Generally. To the extent permitted by law and applicable stock exchange rules, the Company, from time to time, may
(but is not required to) increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase
is either (x) in the best interest of the Company; or (y) advisable to avoid or diminish any income tax imposed on holders of Common
Stock or rights to purchase Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) of
Common Stock or any similar event; (ii) such increase is in effect for a period of at least twenty (20) Business Days; and (iii)
such increase is irrevocable during such period.

 

(B)             
Notice of Voluntary Increases. If the Board of Directors determines to increase the Conversion Rate pursuant to Section
5.06(A), then, no later than the first Business Day of the related twenty (20) Business Day period referred to in Section
5.06(A), the Company will send notice to each Holder, the Trustee and the Conversion Agent of such increase, the amount thereof
and the period during which such increase will be in effect.

 

Section
5.07.    
Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental
Change.

 

(A)            
Generally. If a Make-Whole Fundamental Change occurs and the Conversion Date for the conversion of a Note occurs
during the related Make-Whole Fundamental Change Conversion Period, then, subject to this Section 5.07, the Conversion Rate
applicable to such conversion will be increased by a number of shares (the “Additional Shares”) set forth in
the table below corresponding (after interpolation as provided in, and subject to, the provisions below) to the Make-Whole Fundamental
Change Effective Date and the Stock Price of such Make-Whole Fundamental Change:

 

    -58- 

     

    

 

	Make-Whole Fundamental Change Effective Date	 	 	 	Stock
    Price	 
	 	 	$	12.90	 	 	$	14.50	 	 	$	16.00	 	 	$	18.06	 	 	$	20.50	 	 	$	23.48	 	 	$	27.00	 	 	$	30.00	 	 	$	35.00	 	 	$	40.00	 	 	$	50.00	 	 	$	60.00	 	 	$	70.00	 
	February 9, 2021	 	 	22.1483	 	 	 	17.6228	 	 	 	14.2400	 	 	 	10.7841	 	 	 	7.8902	 	 	 	5.4830	 	 	 	3.6215	 	 	 	2.5583	 	 	 	1.4274	 	 	 	0.7733	 	 	 	0.1740	 	 	 	0.0083	 	 	 	0.0000	 
	February 1, 2022	 	 	22.1483	 	 	 	17.4959	 	 	 	13.9719	 	 	 	10.4042	 	 	 	7.4566	 	 	 	5.0456	 	 	 	3.2237	 	 	 	2.2080	 	 	 	1.1609	 	 	 	0.5820	 	 	 	0.0956	 	 	 	0.0000	 	 	 	0.0000	 
	February 1, 2023	 	 	22.1483	 	 	 	17.1062	 	 	 	13.4206	 	 	 	9.7398	 	 	 	6.7576	 	 	 	4.3846	 	 	 	2.6541	 	 	 	1.7273	 	 	 	0.8197	 	 	 	0.3560	 	 	 	0.0260	 	 	 	0.0000	 	 	 	0.0000	 
	February 1, 2024	 	 	22.1483	 	 	 	16.3793	 	 	 	12.4719	 	 	 	8.6545	 	 	 	5.6683	 	 	 	3.4072	 	 	 	1.8659	 	 	 	1.1017	 	 	 	0.4240	 	 	 	0.1298	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	February 1, 2025	 	 	22.1483	 	 	 	15.1434	 	 	 	10.8125	 	 	 	6.7685	 	 	 	3.8600	 	 	 	1.9238	 	 	 	0.8189	 	 	 	0.3710	 	 	 	0.0691	 	 	 	0.0005	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	February 1, 2026	 	 	22.1483	 	 	 	13.5945	 	 	 	7.1288	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

If such Make-Whole
Fundamental Change Effective Date or Stock Price is not set forth in the table above, then:

 

(i)                
if such Stock Price is between two Stock Prices in the table above or the Make-Whole Fundamental Change Effective Date is
between two dates in the table above, then the number of Additional Shares will be determined by straight-line interpolation between
the numbers of Additional Shares set forth for the higher and lower Stock Prices in the table above or the earlier and later dates
in the table above, based on a 365- or 366-day year, as applicable; and

 

(ii)             
if the Stock Price is greater than $70.00 (subject to adjustment in the same manner as the Stock Prices set forth in the
column headings of the table above are adjusted pursuant to Section 5.07(B)), or less than $12.90 (subject to adjustment
in the same manner), per share, then no Additional Shares will be added to the Conversion Rate.

 

Notwithstanding anything
to the contrary in this Indenture or the Notes, in no event will the Conversion Rate be increased to an amount that exceeds 77.5193
shares of Common Stock per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at
the same time and for the same events for which, the Conversion Rate is required to be adjusted pursuant to Section 5.05(A).

 

For the avoidance of
doubt, but subject to Section 4.03(I), (x) the sending of a Redemption Notice will constitute a Make-Whole Fundamental Change
only with respect to the Notes called (or deemed called) for Redemption pursuant to such Redemption Notice, and not with respect
to any other Notes; and (y) the Conversion Rate applicable to the Notes not so called for Redemption will not be subject to increase
pursuant to this Section 5.07 on account of such Redemption Notice.

 

(B)             
Adjustment of Stock Prices and Number of Additional Shares. The Stock Prices in the first row (i.e., the
column headers) of the table set forth in Section 5.07(A) will be adjusted in the same manner as, and at the same time
and for the same events for which, the Conversion Price is adjusted as a result of the operation of Section 5.05(A). The
numbers of Additional Shares in the table set forth in Section 5.07(A) will be adjusted in the same manner as, and at the
same time and for the same events for which, the Conversion Rate is adjusted pursuant to Section 5.05(A).

 

    -59- 

     

    

 

(C)             
Notice of the Occurrence of a Make-Whole Fundamental Change. The Company will notify the Holders in writing, the
Trustee and the Conversion Agent of each Make-Whole Fundamental Change (i) occurring pursuant to clause (A) of the definition
thereof in accordance with Section 5.01(C)(i)(3)(b); and (ii) occurring pursuant to clause (B) of the definition
thereof in accordance with Section 4.03(F).

 

Section
5.08.    
[Reserved.]

 

Section
5.09.    
Effect of Common Stock Change Event.

 

(A)            
Generally. If there occurs any:

 

(i)                
recapitalization, reclassification or change of the Common Stock (other than (x) changes solely resulting from a subdivision
or combination of the Common Stock, (y) a change only in par value or from par value to no par value or no par value to par value
and (z) stock splits and stock combinations that do not involve the issuance of any other series or class of securities);

 

(ii)             
consolidation, merger, combination or binding or statutory share exchange involving the Company;

 

(iii)           
sale, lease or other transfer of all or substantially all of the assets of the Company and its Subsidiaries, taken as a
whole, to any Person; or

 

(iv)            
other similar event,

 

and, as a result of which, the Common Stock
is converted into, or is exchanged for, or represents solely the right to receive, other securities, cash or other property, or
any combination of the foregoing (such an event, a “Common Stock Change Event,” and such other securities, cash
or property, the “Reference Property,” and the amount and kind of Reference Property that a holder of one (1)
share of Common Stock would be entitled to receive on account of such Common Stock Change Event (without giving effect to any arrangement
not to issue or deliver a fractional portion of any security or other property), a “Reference Property Unit”),
then, notwithstanding anything to the contrary in this Indenture or the Notes,

 

(1)       from
and after the effective time of such Common Stock Change Event, (I) the Conversion Consideration due upon conversion of any Note,
and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of shares of
Common Stock in this Article 5 (or in any related definitions) were instead a reference to the same number of Reference
Property Units; (II) for purposes of Section 4.03, each reference to any number of shares of Common Stock in such Section
(or in any related definitions) will instead be deemed to be a reference to the same number of Reference Property Units; and (III)
for purposes of the definitions of “Fundamental Change” and “Make-Whole Fundamental Change,” references
to “Common Stock” and the Company’s “common equity” will be deemed to refer to the corresponding
common equity, if any, forming part of such Reference Property;

 

    -60- 

     

    

 

(2)       if
such Reference Property Unit consists entirely of cash, then the Company will be deemed to elect Physical Settlement in respect
of all conversions whose Conversion Date occurs on or after the effective date of such Common Stock Change Event and will pay the
cash due upon such conversions no later than the second (2nd) Business Day after the relevant Conversion Date; and

 

(3)       for
these purposes, (I) the Daily VWAP of any Reference Property Unit or portion thereof that consists of a class of common equity
securities will be determined by reference to the definition of “Daily VWAP,” substituting, if applicable, the Bloomberg
page for such class of securities in such definition; and (II) the Daily VWAP of any Reference Property Unit or portion thereof
that does not consist of a class of common equity securities, and the Last Reported Sale Price of any Reference Property Unit or
portion thereof that does not consist of a class of securities, will be the fair value of such Reference Property Unit or portion
thereof, as applicable, determined in good faith by the Company (or, in the case of cash denominated in U.S. dollars, the face
amount thereof).

 

If the Reference Property
consists of more than a single type of consideration to be determined based in part upon any form of stockholder election, then
the composition of the Reference Property Unit will be deemed to be the weighted average of the types and amounts of consideration
actually received, per share of Common Stock, by the holders of Common Stock. The Company will notify Holders, the Trustee and
the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made.

 

At or before the effective
time of such Common Stock Change Event, the Company and the resulting, surviving or transferee Person (if not the Company) of such
Common Stock Change Event (the “Successor Person”) will execute and deliver to the Trustee a supplemental indenture
pursuant to Section 8.01(F), which supplemental indenture will (x) provide for subsequent conversions of Notes in the manner
set forth in this Section 5.09; (y) provide for subsequent adjustments to the Conversion Rate pursuant to Section 5.05(A)
in a manner consistent with this Section 5.09; and (z) contain such other provisions, if any, that the Company reasonably
determines are appropriate to preserve the economic interests of the Holders and to give effect to the provisions of this Section
5.09(A). If the Reference Property includes shares of stock or other securities or assets (other than cash) of a Person other
than the Successor Person, then such other Person will also execute such supplemental indenture and such supplemental indenture
will contain such additional provisions, if any, that the Company reasonably determines are appropriate to preserve the economic
interests of the Holders.

 

(B)             
Notice of Common Stock Change Events. The Company will provide notice of each Common Stock Change Event in the manner
provided in Section 5.01(C)(i)(3)(b).

 

(C)             
Compliance Covenant. The Company will not become a party to any Common Stock Change Event unless its terms are consistent
with this Section 5.09.

 

    -61- 

     

    

 

Section 5.10.    
Responsibility of Trustee and Conversion Agent

 

The Trustee and
Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate (or
any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase) of the Conversion
Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method
employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and Conversion
Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock,
or of any securities, property or cash that may at any time be issued or delivered upon the conversion of any Note; and the
Trustee and Conversion Agent make no representations with respect thereto. Neither the Trustee nor any Conversion Agent shall
be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates
or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of
the duties, responsibilities or covenants of the Company contained in this Article. Without limiting the generality of the
foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any
provisions contained in any supplemental indenture entered into pursuant to ‎Section 5.09 relating either to the kind
or amount of shares of stock or securities or property (including cash) receivable by Holders upon the conversion of their
Notes after any event referred to in such ‎Section 5.09 or to any adjustment to be made with respect thereto, but,
subject to the provisions of ‎Section 10.01, may accept (without any independent investigation) as conclusive evidence
of the correctness of any such provisions, and shall be protected in relying upon, the Officer’s Certificate with
respect thereto. Neither the Trustee nor the Conversion Agent shall be responsible for determining whether any event
contemplated by ‎Section 5.01 has occurred that makes the Notes eligible for conversion or no longer eligible therefor
until the Company has delivered to the Trustee and the Conversion Agent the notices referred to in ‎Section 5.01 with
respect to the commencement or termination of such conversion rights, on which notices the Trustee and the Conversion Agent
may conclusively rely.

 

Article
6.         Successors

 

Section 6.01.    
When the Company May Merge, Etc.

 

(A)            
Generally. The Company will not consolidate with or merge with or into, or (directly, or indirectly through one or
more of its Subsidiaries) sell, lease or otherwise transfer, in one transaction or a series of transactions, all or substantially
all of the assets of the Company and its Subsidiaries, taken as a whole, to another Person (a “Business Combination Event”),
unless:

 

(i)                
the resulting, surviving or transferee Person either (x) is the Company or (y) if not the Company, is a corporation (the
 “Successor Corporation”) duly organized and existing under the laws of the United States of America, any State
thereof or the District of Columbia that expressly assumes (by executing and delivering to the Trustee, at or before the effective
time of such Business Combination Event, a supplemental indenture pursuant to Section 8.01(E)) all of the Company’s
obligations under this Indenture and the Notes; and

 

(ii)             
immediately after giving effect to such Business Combination Event, no Default or Event of Default will have occurred and
be continuing.

 

(B)              Delivery
of Officer’s Certificate and Opinion of Counsel to the Trustee. Promptly following request by the Trustee in
respect of any Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and Opinion
of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental indenture)
comply with Section 6.01(A); and (ii) all conditions precedent to such Business Combination Event provided in this
Indenture have been satisfied.

 

    -62- 

     

    

 

Section 6.02.    
Successor Corporation Substituted.

 

At the effective time
of any Business Combination Event that complies with Section 6.01, the Successor Corporation (if not the Company) will succeed
to, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such Successor
Corporation had been named as the Company in this Indenture and the Notes, and, except in the case of a lease, the predecessor
Company will be discharged from its obligations under this Indenture and the Notes.

 

Article
7.         Defaults
and Remedies

 

Section 7.01.    
Events of Default.

 

(A)            
Definition of Events of Default. “Event of Default” means the occurrence of any of the following:

 

(i)                
a default in the payment when due (whether at maturity, upon Redemption or Repurchase Upon Fundamental Change or otherwise)
of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, any Note;

 

(ii)             
a default for thirty (30) days in the payment when due of any Special Interest on any Note;

 

(iii)           
the Company’s failure to deliver, when required by this Indenture, a Fundamental Change Notice, or a notice pursuant
to Section 5.01(C)(i)(3);

 

(iv)            
a default in the Company’s obligation to convert a Note in accordance with Article 5 upon the exercise of the
conversion right with respect thereto, if such default is not cured within three (3) Business Days after its occurrence;

 

(v)              
a default in the Company’s obligations under Section 6.01(A);

 

(vi)            
a default in any of the Company’s obligations or agreements under this Indenture or the Notes (other than a default
set forth in clause (i), (ii), (iii), (iv) or (v) of this Section 7.01(A)) where such
default is not cured or waived within sixty (60) days after written notice to the Company by the Trustee, or to the Company and
the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, which
notice must specify such default, demand that it be remedied and state that such notice is a “Notice of Default”;

 

(vii)          a
default by the Company or any of the Company’s Significant Subsidiaries with respect to any one or more mortgages,
agreements or other instruments under which there is outstanding, or by which there is secured or evidenced, any indebtedness
for money borrowed of at least fifty million dollars ($50,000,000) (or its foreign currency equivalent) in the aggregate of
the Company or any of the Company’s Significant Subsidiaries, whether such indebtedness exists as of the Issue Date or
is thereafter created, where such default:

 

    -63- 

     

    

 

(1)              
constitutes a failure to pay the principal, or premium or interest on, any of such indebtedness when due and payable at
its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, in each case after the expiration
of any applicable grace period; or

 

(2)              
results in such indebtedness becoming or being declared due and payable before its stated maturity,

 

in each case where such default
is not cured or waived, or such indebtedness is not paid or discharged in full, within thirty (30) days after notice to the Company
by the Trustee or to the Company and the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount
of Notes then outstanding;

 

(viii)       
one or more final judgments being rendered against the Company or any of the Company’s Significant Subsidiaries for
the payment of at least fifty million dollars ($50,000,000) (or its foreign currency equivalent) in the aggregate (excluding any
amounts covered by insurance), where such judgment is not discharged or stayed within sixty (60) days after (i) the date on which
the right to appeal the same has expired, if no such appeal has commenced; or (ii) the date on which all rights to appeal have
been extinguished; and

 

(ix)            
the Company or any of its Significant Subsidiaries, pursuant to or within the meaning of any Bankruptcy Law, either:

 

(1)              
commences a voluntary case or proceeding;

 

(2)              
consents to the entry of an order for relief against it in an involuntary case or proceeding;

 

(3)              
consents to the appointment of a custodian of it or for any substantial part of its property;

 

(4)              
makes a general assignment for the benefit of its creditors;

 

(5)              
takes any comparable action under any foreign Bankruptcy Law; or

 

(6)              
generally is not paying its debts as they become due; or

 

(x)              
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that either:

 

(1)              
is for relief against the Company or any of its Significant Subsidiaries in an involuntary case or proceeding;

 

    -64- 

     

    

 

(2)              
 appoints a custodian of the Company or any of its Significant Subsidiaries, or for any substantial part of the property
of the Company or any of its Significant Subsidiaries;

 

(3)              
orders the winding up or liquidation of the Company or any of its Significant Subsidiaries; or

 

(4)              
grants any similar relief under any foreign Bankruptcy Law,

 

and, in each case under this
Section 7.01(A)(x), such order or decree remains unstayed and in effect for at least sixty (60) days.

 

(B)             
Cause Irrelevant. Each of the events set forth in Section 7.01(A) will constitute an Event of Default regardless
of the cause thereof or whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body.

 

Section 7.02.    
Acceleration.

 

(A)            
Automatic Acceleration in Certain Circumstances. If an Event of Default set forth in Section 7.01(A)(ix) or
7.01(A)(x) occurs with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company),
then the principal amount of, and all accrued and unpaid Special Interest, if any, on, all of the Notes then outstanding will immediately
become due and payable without any further action or notice by any Person.

 

(B)             
Optional Acceleration. Subject to Section 7.03, if an Event of Default (other than an Event of Default set
forth in Section 7.01(A)(ix) or 7.01(A)(x) with respect to the Company and not solely with respect to a Significant
Subsidiary of the Company) occurs and is continuing, then the Trustee, by notice to the Company, or Holders of at least twenty
five percent (25%) of the aggregate principal amount of Notes then outstanding, by written notice to the Company and the Trustee,
may declare the principal amount of, and all accrued and unpaid Special Interest, if any, on, all of the Notes then outstanding
to become due and payable immediately.

 

(C)             
Rescission of Acceleration. Notwithstanding anything to the contrary in this Indenture or the Notes, the Holders
of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Company and the Trustee, may,
on behalf of all Holders, rescind any acceleration of the Notes and its consequences if (i) such rescission would not conflict
with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default (except the non-payment
of principal of, or any Special Interest on, the Notes that has become due solely because of such acceleration) have been cured
or waived. No such rescission will affect any subsequent Default or impair any right consequent thereto.

 

Section 7.03.    
Sole Remedy for a Failure to Report.

 

(A)             Generally.
Notwithstanding anything to the contrary in this Indenture or the Notes, the Company may elect that the sole remedy for any
Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(A)(vi) arising from the
Company’s failure to comply with Section 3.02 will, for each of the first one hundred and eighty (180) calendar
days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of Special
Interest on the Notes. If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant
to Section 7.02 on account of the relevant Reporting Event of Default from, and including, the one hundred and eighty
first (181st) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to
pay any accrued and unpaid Special Interest when due; and (ii) Special Interest will cease to accrue on any Notes from, and
including, the earlier of (x) the date such Reporting Event of Default is cured or waived and (y) such one hundred and eighty
first (181st) calendar day.

 

    -65- 

     

    

 

(B)             
Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A)
will be payable in arrears on each Special Interest Payment Date as set forth in Section 2.04 and will accrue at a rate
per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special
Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof
for the duration of the period on which Special Interest accrues; provided, however, that in no event will Special
Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event
of Default, together with any Special Interest that may accrue as a result of the Company’s failure to timely file any report
(other than Form 8-K reports) that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange
Act (after giving effect to all applicable grace periods thereunder), pursuant to Section 3.04(A), accrue on any day on
a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest
that accrues pursuant to Section 7.03(A) will be in addition to any Special Interest that accrues on such Note pursuant
to Section 3.04(A).

 

(C)             
Notice of Election. To make the election set forth in Section 7.03(A), the Company must send to the Holders,
the Trustee and the Paying Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly
describes the report(s) that the Company failed to file with or furnish to the SEC; (ii) states that the Company is electing that
the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest pursuant to Section 7.03(A);
and (iii) briefly describes the periods during which and rate at which Special Interest will accrue and the circumstances under
which the Notes will be subject to acceleration on account of such Reporting Event of Default.

 

(D)            
Notice to Trustee and Paying Agent; Trustee’s Disclaimer. If any Special Interest accrues on any Note pursuant
to Section 7.03(A), then, no later than five (5) Business Days before each date on which such Special Interest is to be
paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company
is obligated to pay Special Interest pursuant to Section 7.03(A) on such Note on such date of payment; and (ii) the amount
of such Special Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Special
Interest is payable or the amount thereof.

 

(E)             
No Effect on Other Events of Default. No election pursuant to this Section 7.03 with respect to a Reporting
Event of Default will affect the rights of any Holder with respect to any other Event of Default, including with respect to any
other Reporting Event of Default.

 

    -66- 

     

    

 

Section 7.04.    
Other Remedies.

 

(A)            
Trustee May Pursue All Remedies. If an Event of Default occurs and is continuing, then the Trustee may pursue any
available remedy to collect the payment of any amounts due with respect to the Notes or to enforce the performance of any provision
of this Indenture or the Notes.

 

(B)             
Procedural Matters. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in such proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy following
an Event of Default will not impair the right or remedy or constitute a waiver of, or acquiescence in, such Event of Default. All
remedies will be cumulative to the extent permitted by law.

 

Section 7.05.    
Waiver of Past Defaults.

 

An Event of Default
pursuant to clause (i), (ii), (iv) or (vi) of Section 7.01(A) (that, in the case of clause
(vi) only, results from a Default under any covenant that cannot be amended without the consent of each affected Holder), and
a Default that could lead to such an Event of Default, can be waived only with the consent of each affected Holder. Each other
Default or Event of Default may be waived, on behalf of all Holders, by the Holders of a majority in aggregate principal amount
of the Notes then outstanding. If an Event of Default is so waived, then it will cease to exist. If a Default is so waived, then
it will be deemed to be cured and any Event of Default arising therefrom will be deemed not to occur. However, no such waiver will
extend to any subsequent or other Default or Event of Default or impair any right arising therefrom.

 

Section 7.06.    
Control by Majority.

 

Holders of a majority
in aggregate principal amount of the Notes then outstanding may direct the time, method and place of conducting any proceeding
for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse
to follow any direction that conflicts with law, this Indenture or the Notes, or that, subject to Section 10.01, the Trustee
determines may be unduly prejudicial to the rights of other Holders (it being understood that the Trustee does not have an affirmative
duty to ascertain whether or not any such direction is unduly prejudicial to any Holders) or may involve the Trustee in liability,
unless the Trustee is offered security and indemnity satisfactory to the Trustee against any loss, liability or expense to the
Trustee that may result from the Trustee’s following such direction.

 

Section 7.07.    
Limitation on Suits.

 

No Holder may pursue
any remedy with respect to this Indenture or the Notes (except to enforce (x) its rights to receive the principal of, or the Redemption
Price or Fundamental Change Repurchase Price for, or any Special Interest on, any Notes; or (y) the Company’s obligations
to convert any Notes pursuant to Article 5), unless:

 

(A)            
such Holder has previously delivered to the Trustee notice that an Event of Default is continuing;

 

(B)             
Holders of at least twenty five percent (25%) in aggregate principal amount of the Notes then outstanding deliver a written
request to the Trustee to pursue such remedy;

 

    -67- 

     

    

 

(C)             
 such Holder or Holders offer and, if requested, provide to the Trustee security and indemnity satisfactory to the Trustee
against any loss, liability or expense to the Trustee that may result from the Trustee’s following such request;

 

(D)            
the Trustee does not comply with such request within sixty (60) calendar days after its receipt of such request and such
offer of security or indemnity; and

 

(E)             
during such sixty (60) calendar day period, Holders of a majority in aggregate principal amount of the Notes then outstanding
do not deliver to the Trustee a direction that is inconsistent with such request.

 

A Holder of a Note
may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder.
The Trustee will have no duty to determine whether any Holder’s use of this Indenture complies with the preceding sentence.

 

Section 7.08.    
Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment and Conversion Consideration.

 

Notwithstanding anything
to the contrary in this Indenture or the Notes (but without limiting Section 8.01), the right of each Holder of a Note to
bring suit for the enforcement of any payment or delivery, as applicable, of the principal of, or the Redemption Price or Fundamental
Change Repurchase Price for, or any Special Interest on, or the Conversion Consideration due pursuant to Article 5 upon
conversion of, such Note on or after the respective due dates therefor provided in this Indenture and the Notes, will not be impaired
or affected without the consent of such Holder.

 

Section 7.09.    
Collection Suit by Trustee.

 

The Trustee will have
the right, upon the occurrence and continuance of an Event of Default pursuant to clause (i), (ii) or (iv)
of Section 7.01(A), to recover judgment in its own name and as trustee of an express trust against the Company for the total
unpaid or undelivered principal of, or Redemption Price or Fundamental Change Repurchase Price for, or Special Interest on, or
Conversion Consideration due pursuant to Article 5 upon conversion of, the Notes, as applicable, and such further amounts
sufficient to cover the costs and expenses of collection, including compensation provided for in Section 10.06.

 

Section 7.10.    
Trustee May File Proofs of Claim.

 

The Trustee has
the right to (A) file such proofs of claim and other papers or documents as may be necessary or advisable in order to have
the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor
upon the Notes) or its creditors or property and (B) collect, receive and distribute any money or other property payable or
deliverable on any such claims. Each Holder authorizes any custodian in such proceeding to make such payments to the Trustee,
and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to
the Trustee for the reasonable compensation, expenses, disbursements and advances of the Trustee, and its agents and counsel,
and any other amounts payable to the Trustee pursuant to Section 10.06. To the extent that the payment of any such
compensation, expenses, disbursements, advances and other amounts out of the estate in such proceeding, is denied for any
reason, payment of the same will be secured by a lien (senior to the rights of Holders) on, and will be paid out of, any and
all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such
proceeding (whether in liquidation or under any plan of reorganization or arrangement or otherwise). Nothing in this
Indenture will be deemed to authorize the Trustee to authorize, consent to, accept or adopt on behalf of any Holder any plan
of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize
the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

    -68- 

     

    

 

Section 7.11.    
Priorities.

 

The Trustee will pay
or deliver in the following order any money or other property that it collects pursuant to this Article 7:

 

First:to
the Trustee and its agents and attorneys for amounts due under this Indenture, including payment of all fees, compensation, expenses
and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

Second:to
Holders for unpaid amounts or other property due on the Notes, including the principal of, or the Redemption Price or Fundamental
Change Repurchase Price for, or any Special Interest on, or any Conversion Consideration due upon conversion of, the Notes, ratably,
and without preference or priority of any kind, according to such amounts or other property due and payable on all of the Notes;
and

 

Third:to
the Company or such other Person as a court of competent jurisdiction directs.

 

The Trustee may fix
a record date and payment date for any payment or delivery to the Holders pursuant to this Section 7.11, in which case the
Trustee will instruct the Company to, and the Company will deliver in writing, at least fifteen (15) calendar days before such
record date, to each Holder and the Trustee a notice stating such record date, such payment date and the amount of such payment
or nature of such delivery, as applicable.

 

Section 7.12.    
Undertaking for Costs.

 

In any suit for the
enforcement of any right or remedy under this Indenture or the Notes or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court, in its discretion, may (A) require the filing by any litigant party in such suit of an undertaking
to pay the costs of such suit, and (B) assess reasonable costs (including reasonable attorneys’ fees) against any litigant
party in such suit, having due regard to the merits and good faith of the claims or defenses made by such litigant party; provided,
however, that this Section 7.12 does not apply to any suit by the Trustee, any suit by a Holder pursuant to Section
7.08 or any suit by one or more Holders of more than ten percent (10%) in aggregate principal amount of the Notes then outstanding.

 

    -69- 

     

    

 

Article
8.         Amendments,
Supplements and Waivers

 

Section 8.01.    
Without the Consent of Holders.

 

Notwithstanding anything
to the contrary in Section 8.02, the Company and the Trustee may amend or supplement this Indenture or the Notes without
the consent of any Holder to:

 

(A)            
cure any ambiguity or correct any omission, defect or inconsistency in this Indenture or the Notes;

 

(B)             
add guarantees with respect to the Company’s obligations under this Indenture or the Notes;

 

(C)             
secure the Notes;

 

(D)            
add to the Company’s covenants or Events of Default for the benefit of the Holders or surrender any right or power
conferred on the Company;

 

(E)             
provide for the assumption of the Company’s obligations under this Indenture and the Notes pursuant to, and in compliance
with, Article 6;

 

(F)             
enter into supplemental indentures pursuant to, and in accordance with, Section 5.09 in connection with a Common
Stock Change Event;

 

(G)            
irrevocably elect or eliminate any Settlement Method or Specified Dollar Amount; provided, however, that no
such election or elimination will affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any
Note pursuant to Section 5.03(A);

 

(H)            
evidence or provide for the acceptance of the appointment, under this Indenture, of a successor Trustee, Registrar, Paying
Agent, Bid Solicitation Agent or Conversion Agent or facilitate the administration of the trusts under this Indenture by more than
one trustee;

 

(I)               
conform the provisions of this Indenture and the Notes to the “Description of the Notes” section of the Company’s
preliminary offering memorandum, dated February 4, 2021, as supplemented by the related pricing term sheet, dated February 4, 2021;

 

(J)               
provide for or confirm the issuance of additional Notes pursuant to Section 2.03(B);

 

(K)            
increase the Conversion Rate in accordance with this Indenture;

 

(L)             
comply with any requirement of the SEC in connection with any qualification of this Indenture or any supplemental indenture
under the Trust Indenture Act, as then in effect; or

 

(M)           
make any other change to this Indenture or the Notes that does not, individually or in the aggregate with all other such
changes, adversely affect the rights of the Holders, as such, in any material respect.

 

At the written request
of any Holder of a Note or owner of a beneficial interest in a Global Note, the Company will provide a copy of the “Description
of the Notes” section and pricing term sheet referred to in Section 8.01(I).

 

    -70- 

     

    

 

Section 8.02.    
With the Consent of Holders.

 

(A)            
Generally. Subject to Sections 8.01, 7.05 and 7.08 and the immediately following sentence, the
Company and the Trustee may, with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding,
amend or supplement this Indenture or the Notes or waive compliance with any provision of this Indenture or the Notes. Notwithstanding
anything to the contrary in the foregoing sentence, but subject to Section 8.01, without the consent of each affected Holder,
no amendment or supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may:

 

(i)                
reduce the principal, or extend the stated maturity, of any Note;

 

(ii)             
reduce the Redemption Price or Fundamental Change Repurchase Price for any Note or change the times at which, or the circumstances
under which, the Notes may or will be redeemed or repurchased by the Company;

 

(iii)           
reduce the rate, or extend the time for the payment, of any Special Interest on any Note;

 

(iv)            
make any change that adversely affects the conversion rights of any Note, other than as required by this Indenture;

 

(v)              
impair the absolute rights of any Holder set forth in Section 7.08 (as such section is in effect on the Issue Date);

 

(vi)            
change the ranking of the Notes in a manner that adversely affects any Holder;

 

(vii)         
make any Note payable in money, or at a place of payment, other than that stated in this Indenture or the Note;

 

(viii)       
reduce the amount of Notes whose Holders must consent to any amendment, supplement, waiver or other modification; or

 

(ix)            
make any direct or indirect change to any amendment, supplement, waiver or modification provision of this Indenture or the
Notes that requires the consent of each affected Holder.

 

For the avoidance of
doubt, pursuant to clauses (i), (ii), (iii), (iv) and (v) of this Section 8.02(A), no
amendment or supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may change the
amount or type of consideration due on any Note (whether on a Special Interest Payment Date, Redemption Date, Fundamental Change
Repurchase Date or the Maturity Date or upon conversion, or otherwise), or the date(s) or time(s) such consideration is payable
or deliverable, as applicable, without the consent of each affected Holder.

 

(B)              Holders
Need Not Approve the Particular Form of any Amendment. A consent of any Holder pursuant to this Section 8.02 need
approve only the substance, and not necessarily the particular form, of the proposed amendment, supplement or waiver.

 

    -71- 

     

    

 

Section 8.03.    
Notice of Amendments, Supplements and Waivers.

 

As soon as reasonably
practicable after any amendment, supplement or waiver pursuant to Section 8.01 or 8.02 becomes effective, the Company
will send to the Holders and the Trustee notice that (A) describes the substance of such amendment, supplement or waiver in reasonable
detail and (B) states the effective date thereof; provided, however, that the Company will not be required to provide
such notice to the Holders if such amendment, supplement or waiver is included in a periodic report filed by the Company with the
SEC within four (4) Business Days of its effectiveness. The failure to send, or the existence of any defect in, such notice will
not impair or affect the validity of such amendment, supplement or waiver.

 

Section 8.04.    
Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc.

 

(A)            
Revocation and Effect of Consents. The consent of a Holder of a Note to an amendment, supplement or waiver will bind
(and constitute the consent of) each subsequent Holder of any Note to the extent the same evidences any portion of the same indebtedness
as the consenting Holder’s Note, subject to the right of any Holder of a Note to revoke (if not prohibited pursuant to Section
8.04(B)) any such consent with respect to such Note by delivering notice of revocation to the Trustee before the time such
amendment, supplement or waiver becomes effective.

 

(B)             
Special Record Dates. The Company may, but is not required to, fix a record date for the purpose of determining the
Holders entitled to consent or take any other action in connection with any amendment, supplement or waiver pursuant to this Article
8. If a record date is fixed, then, notwithstanding anything to the contrary in Section 8.04(A), only Persons who are
Holders as of such record date (or their duly designated proxies) will be entitled to give such consent, to revoke any consent
previously given or to take any such action, regardless of whether such Persons continue to be Holders after such record date;
provided, however, that no such consent will be valid or effective for more than one hundred and twenty (120) calendar
days after such record date.

 

(C)             
Solicitation of Consents. For the avoidance of doubt, each reference in this Indenture or the Notes to the consent
of a Holder will be deemed to include any such consent obtained in connection with a repurchase of, or tender or exchange offer
for, any Notes.

 

(D)            
Effectiveness and Binding Effect. Each amendment, supplement or waiver pursuant to this Article 8 will become
effective in accordance with its terms and, when it becomes effective with respect to any Note (or any portion thereof), will thereafter
bind every Holder of such Note (or such portion).

 

Section 8.05.    
Notations and Exchanges.

 

If any amendment,
supplement or waiver changes the terms of a Note, then the Trustee (at the direction of the Company) or the Company may, in
its discretion, require the Holder of such Note to deliver such Note to the Trustee so that the Trustee may place an
appropriate notation prepared by the Company on such Note and return such Note to such Holder. Alternatively, at its
discretion, the Company may, in exchange for such Note, issue, execute and deliver, and the Trustee will authenticate, in
each case in accordance with Section 2.02, a new Note that reflects the changed terms. The failure to make any
appropriate notation or issue a new Note pursuant to this Section 8.05 will not impair or affect the validity of such
amendment, supplement or waiver.

 

    -72- 

     

    

 

Section 8.06.    
Trustee to Execute Supplemental Indentures.

 

The Trustee will execute
and deliver any amendment or supplemental indenture authorized pursuant to this Article 8; provided, however,
that the Trustee need not (but may, in its sole and absolute discretion) execute or deliver any such amendment or supplemental
indenture that the Trustee concludes adversely affects the Trustee’s rights, duties, liabilities or immunities. In executing
any amendment or supplemental indenture, the Trustee will be entitled to receive, and (subject to Sections 10.01 and 10.02)
will be fully protected in relying on, an Officer’s Certificate and an Opinion of Counsel stating that (A) the execution
and delivery of such amendment or supplemental indenture is authorized or permitted by this Indenture; and (B) in the case of the
Opinion of Counsel, such amendment or supplemental indenture is valid, binding and enforceable against the Company in accordance
with its terms.

 

Article
9.         Satisfaction
and Discharge

 

Section 9.01.    
Termination of Company’s Obligations.

 

This Indenture will
be discharged, and will cease to be of further effect as to all Notes issued under this Indenture, when:

 

(A)            
all Notes then outstanding (other than Notes replaced pursuant to Section 2.13) have (i) been delivered to the Trustee
for cancellation; or (ii) become due and payable (whether on a Redemption Date, a Fundamental Change Repurchase Date, the Maturity
Date, upon conversion or otherwise) for an amount of cash or Conversion Consideration, as applicable, that has been fixed;

 

(B)             
the Company has caused there to be irrevocably deposited with the Trustee, or with the Paying Agent (or, with respect to
Conversion Consideration, the Conversion Agent), in each case for the benefit of the Holders, or has otherwise caused there to
be delivered to the Holders, cash (or, with respect to Notes to be converted, Conversion Consideration) sufficient to satisfy all
amounts or other property due on all Notes then outstanding (other than Notes replaced pursuant to Section 2.13);

 

(C)             
the Company has paid all other amounts payable by it under this Indenture; and

 

(D)            
the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that the
conditions precedent to the discharge of this Indenture have been satisfied;

 

provided, however, that Article
10 and Section 11.01 will survive such discharge and, until no Notes remain outstanding, Section 2.15 and
the obligations of the Trustee, the Paying Agent and the Conversion Agent with respect to money or other property deposited
with them will survive such discharge.

 

At the Company’s
request, the Trustee will acknowledge the satisfaction and discharge of this Indenture.

 

    -73- 

     

    

 

Section 9.02.    
Repayment to Company.

 

Subject to applicable
unclaimed property law, the Trustee, the Paying Agent and the Conversion Agent will promptly notify the Company if there exists
(and, at the Company’s request, promptly deliver to the Company) any cash, Conversion Consideration or other property held
by any of them for payment or delivery on the Notes that remain unclaimed two (2) years after the date on which such payment or
delivery was due. After such delivery to the Company, the Trustee, the Paying Agent and the Conversion Agent will have no further
liability to any Holder with respect to such cash, Conversion Consideration or other property, and Holders entitled to the payment
or delivery of such cash, Conversion Consideration or other property must look to the Company for payment as a general creditor
of the Company.

 

Section 9.03.    
Reinstatement.

 

If the Trustee, the
Paying Agent or the Conversion Agent is unable to apply any cash or other property deposited with it pursuant to Section 9.01
because of any legal proceeding or any order or judgment of any court or other governmental authority that enjoins, restrains or
otherwise prohibits such application, then the discharge of this Indenture pursuant to Section 9.01 will be rescinded; provided,
however, that if the Company thereafter pays or delivers any cash or other property due on the Notes to the Holders thereof,
then the Company will be subrogated to the rights of such Holders to receive such cash or other property from the cash or other
property, if any, held by the Trustee, the Paying Agent or the Conversion Agent, as applicable.

 

Article
10.       Trustee

 

Section 10.01. Duties
of the Trustee.

 

(A)            
If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs.

 

(B)             
Except during the continuance of an Event of Default:

 

(i)                
the duties of the Trustee will be determined solely by the express provisions of this Indenture, and the Trustee need perform
only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations will
be read into this Indenture against the Trustee; and

 

(ii)              in
the absence of bad faith or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel
that are provided to the Trustee and conform to the requirements of this Indenture. However, the Trustee will examine the
certificates and opinions to determine whether or not they conform to the requirements of this Indenture, but shall have no
affirmative duty to verify the contents thereof.

 

    -74- 

     

    

 

(C)             
The Trustee may not be relieved from liabilities for its gross negligence or willful misconduct, except that:

 

(i)                
this paragraph will not limit the effect of Section 10.01(B);

 

(ii)             
the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was grossly negligent in ascertaining the pertinent facts; and

 

(iii)           
the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 7.06.

 

(D)            
Each provision of this Indenture that in any way relates to the Trustee is subject to this Section 10.01 and Section
10.02, regardless of whether such provision so expressly provides.

 

(E)             
No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability.

 

(F)             
The Trustee will not be liable for interest on any money received by it, except as the Trustee may agree in writing with
the Company. Money held in trust by the Trustee need not be segregated from other funds, except to the extent required by law.

 

Section 10.02. Rights
of the Trustee.

 

(A)            
The Trustee may conclusively rely on any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, judgment, bond, debenture, note, other evidence of indebtedness or other paper or document that it believes
to be genuine and signed or presented by the proper Person, and the Trustee need not investigate any fact or matter stated in such
document.

 

(B)             
Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate, an Opinion of Counsel or
both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s
Certificate or Opinion of Counsel. The Trustee may consult with counsel; and the advice of such counsel, or any Opinion of Counsel,
will constitute full and complete authorization of the Trustee to take or omit to take any action in good faith in reliance thereon
without liability.

 

(C)             
The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any
such agent appointed with due care.

 

(D)            
The Trustee will not be liable for any action it takes or omits to take in good faith and that it believes to be authorized
or within the rights or powers vested in it by this Indenture.

 

    -75- 

     

    

 

(E)             
 Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will
be sufficient if signed by an Officer of the Company.

 

(F)             
The Trustee need not exercise any rights or powers vested in it by this Indenture at the request or direction of any Holder
unless such Holder has offered the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense
that it may incur in complying with such request or direction.

 

(G)            
The Trustee will not be responsible or liable for any punitive, special, indirect, incidental or consequential loss or damage
(including lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form
of action.

 

(H)            
The Trustee will 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, judgment, bond, debenture or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may
see fit and will incur no liability of any kind by reason of such inquiry or investigation.

 

(I)               
The Trustee will not be required to give any bond or surety in respect of the execution of the trusts, powers, and duties
under this Indenture.

 

(J)               
The permissive rights of the Trustee enumerated herein will not be construed as duties. The Trustee undertakes to perform
such duties and only such duties as are specifically and expressly set forth in this Indenture.

 

(K)            
The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and
titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate
may be signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized
in any such certificate previously delivered and not superseded.

 

(L)             
The Trustee will not be deemed to have notice of any Default or Event of Default (except in the case of a Default or Event
of Default in payment of scheduled principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or interest
on, any Note) unless written notice of any event that is in fact such a Default or Event of Default (and stating the occurrence
of a Default or Event of Default) is actually received by the a Responsible Officer of the Trustee at the Corporate Trust Office
of the Trustee, and such notice references the Notes, the Company and this Indenture and states that it is a notice of Default
or Event of Default.

 

(M)            The Trustee shall have no duty to monitor for a Business Combination Event, shall not be deemed to have knowledge of a Business Combination
Event unless a Responsible Officer of the Trustee has received from the Company written notice thereof at the Corporate Trust Office and
the Trustee shall have no duty to notify Holders of a Business Combination Event.

 

Section 10.03. Individual
Rights of the Trustee.

 

The Trustee, in
its individual or any other capacity, may become the owner or pledgee of any Note and may otherwise deal with the Company or
any of its Affiliates with the same rights that it would have if it were not Trustee; provided, however, that
if the Trustee acquires a “conflicting interest” (within the meaning of Section 310(b) of the Trust Indenture
Act), then it must eliminate such conflict within ninety (90) days or resign as Trustee. The rights, privileges, protections,
immunities and benefits given to the Trustee, including its right to be compensated, reimbursed and indemnified, are extended
to, and will be enforceable by, the Trustee in each of its capacities under this Indenture and each Note Agent, custodian and
other Person retained to act under this Indenture.

 

    -76- 

     

    

 

Section
10.04. Trustee’s Disclaimer.

 

The Trustee will not
be (A) responsible for, and makes no representation as to, the validity or adequacy of this Indenture or the Notes; (B) accountable
for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction
under any provision of this Indenture; (C) responsible for the use or application of any money received by any Paying Agent other
than the Trustee; and (D) responsible for any statement or recital in this Indenture, the Notes or any other document relating
to the sale of the Notes or this Indenture, other than the Trustee’s certificate of authentication.

 

Section
10.05. Notice of Defaults.

 

If a Default or Event
of Default occurs and is continuing and is actually known to a Responsible Officer of the Trustee, then the Trustee will send Holders
a notice of such Default or Event of Default within ninety (90) days after it occurs or, if it is not actually known to a Responsible
Officer of the Trustee at such time, promptly (and in any event within ten (10) Business Days) after it becomes actually known
to a Responsible Officer; provided, however, that, except in the case of a Default or Event of Default in the payment
of the principal of, or Special Interest, if any, on, any Note, or a Default in the payment or delivery of any Conversion Consideration
upon conversion of any Note, the Trustee may withhold such notice if and for so long as it in good faith determines that withholding
such notice is in the interests of the Holders.

 

Section
10.06. Compensation and Indemnity.

 

(A)           
The Company will, from time to time, pay the Trustee (acting in any capacity hereunder) reasonable compensation for its
acceptance of this Indenture and services under this Indenture. The Trustee’s compensation will not be limited by any law
on compensation of a trustee of an express trust. In addition to the compensation for the Trustee’s services, the Company
will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it
under this Indenture, including the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

 

(B)             The
Company will indemnify and hold harmless the Trustee (acting in any capacity hereunder) against any and all losses,
liabilities or expenses (including, without limitation, attorneys fees and expenses) incurred by it arising out of or in
connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of
enforcing this Indenture (including, without limitation, attorneys fees and expenses) against the Company (including this Section
10.06) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or
liability in connection with the exercise or performance of any of its powers or duties under this Indenture, except to the
extent any such loss, liability or expense may be attributable to its gross negligence or willful misconduct as determined by
a court of competent jurisdiction in a final and non-appealable decision. The Trustee will promptly notify the Company of any
claim for which it may seek indemnity (other than any claim brought by the Company), but the Trustee’s failure to so
notify the Company will not relieve the Company of its obligations under this Section 10.06(B), except to the extent
the Company is materially prejudiced by such failure. The Company will defend such claim, and the Trustee will cooperate in
such defense at the expense of the Company. If the Trustee is advised by counsel that it may have defenses available to it
that are in conflict with the defenses available to the Company, or that there is an actual or potential conflict of
interest, then the Trustee may retain separate counsel, and the Company will pay the reasonable fees and expenses of such
counsel (including the reasonable fees and expenses of counsel to the Trustee incurred in evaluating whether such a conflict
exists). The Company need not pay for any settlement of any such claim made without its consent, which consent will not be
unreasonably withheld. The indemnification provided in this Section 10.06 will extend to the officers, directors,
agents and employees of the Trustee and any successor Trustee under this Indenture.

 

    -77- 

     

    

 

(C)            
The obligations of the Company under this Section 10.06 will survive the resignation or removal of the Trustee and
the discharge of this Indenture.

 

(D)            
To secure the Company’s payment obligations in this Section 10.06, the Trustee will have a lien prior to the
Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of, or any Special
Interest on, particular Notes, which lien will survive the discharge of this Indenture.

 

(E)            
If the Trustee incurs expenses or renders services after an Event of Default pursuant to clause (ix) or (x)
of Section 7.01(A) occurs, then such expenses and the compensation for such services (including the fees and expenses of
its agents and counsel) are intended to constitute administrative expenses for purposes of priority under any Bankruptcy Law.

 

Section
10.07. Replacement of the Trustee.

 

(A)            
Notwithstanding anything to the contrary in this Section 10.07, a resignation or removal of the Trustee, and the
appointment of a successor Trustee, will become effective only upon such successor Trustee’s acceptance of appointment as
provided in this Section 10.07.

 

(B)            
The Trustee may resign at any time and be discharged from its duties and obligations hereunder at any time by giving no
less than thirty (30) calendar days’ prior written notice of such resignation to the Company. The Holders of a majority in
aggregate principal amount of the Notes then outstanding may remove the Trustee by providing no less than thirty (30) calendar
days’ prior written notice to the Trustee and the Company. The Company may remove the Trustee if:

 

(i)                
the Trustee fails to comply with Section 10.09;

 

(ii)               
the Trustee is adjudged to be bankrupt or insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law;

 

(iii)               a custodian or public officer takes charge of the Trustee or its property; or

 

(iv)              
the Trustee becomes incapable of acting.

 

    -78- 

     

    

 

(C)             
 If the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, then (i) the Company
will promptly appoint a successor Trustee; and (ii) at any time within one (1) year after the successor Trustee takes office, the
Holders of a majority in aggregate principal amount of the Notes then outstanding may appoint a successor Trustee to replace such
successor Trustee appointed by the Company.

 

(D)            
If a successor Trustee does not take office within sixty (60) days after the retiring Trustee resigns or is removed, then
the retiring Trustee (at the Company’s expense), the Company or the Holders of at least ten percent (10%) in aggregate principal
amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

(E)             
If the Trustee, after written request by a Holder of at least six (6) months, fails to comply with Section 10.09,
then such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee.

 

(F)             
A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company, upon
which notice the resignation or removal of the retiring Trustee will become effective and the successor Trustee will have all the
rights, powers and duties of the Trustee under this Indenture. The successor Trustee will send notice of its succession to Holders.
The retiring Trustee will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it
as Trustee to the successor Trustee, which property will, for the avoidance of doubt, be subject to the lien provided for in Section
10.06(D).

 

Section
10.08. Successor Trustee by Merger, Etc.

 

If the Trustee consolidates,
merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, then such
corporation will become the successor Trustee under this Indenture and will have and succeed to the rights, powers, duties, immunities
and privileges of its predecessor without any further act or the execution or filing of any instrument or paper.

 

Section
10.09. Eligibility; Disqualification.

 

There will at all times
be a Trustee under this Indenture that is a corporation organized and doing business under the laws of the United States of America
or of any state thereof, that is authorized under such laws to exercise corporate trustee power, that is subject to supervision
or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth
in its most recent published annual report of condition.

 

Article
11.       Miscellaneous

 

Section
11.01. Notices.

 

Any notice or
communication by the Company or the Trustee (including in its capacity as any Note Agent) to the other will be deemed to have
been duly given if in writing and delivered in person or by first class mail (registered or certified, return receipt
requested), facsimile transmission, electronic transmission or other similar means of unsecured electronic communication or
overnight air courier guaranteeing next day delivery, or to the other’s address, which initially is as follows:

 

    -79- 

     

    

 

If to the Company:

 

	 	To: 	SmileDirectClub, Inc.
	 	 	414 Union St.
	 	 	8th Floor
	 	 	Nashville, TN 37219

	 	 	Attn:	Kyle Wailes, Chief Financial Officer and Susan Greenspon
Rammelt, Chief Legal Officer
	 	 	Email:	kyle.wailes@smiledirectclub.com
	 	 	 	susan.greenspon@smiledirectclub.com

 

with a copy (which will not constitute
notice) to:

 

	 	Foley & Lardner LLP
	 	777 E. Wisconsin Avenue
	 	Milwaukee, WI 53202
	 	Attn: Patricia J. Lane
	 	Email: plane@foley.com

 

If to the Trustee:

 

	 	Wilmington Trust, National Association
	 	Rodney Square North
	 	1100 North Market Street
	 	Wilmington, Delaware 19890
	 	Attention: SmileDirectClub, Inc. Administrator

 

The Company or the
Trustee, by notice to the other, may designate additional or different addresses (including facsimile numbers and electronic addresses)
for subsequent notices or communications.

 

All notices and communications
(other than those sent to Holders) will be deemed to have been duly given: (A) at the time delivered by hand, if personally delivered;
(B) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; (C) when receipt acknowledged, if transmitted
by facsimile, electronic transmission or other similar means of unsecured electronic communication; and (D) the next Business Day
after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

 

    -80- 

     

    

 

All notices or
communications required to be made to a Holder pursuant to this Indenture must be made in writing and will be deemed to be
duly sent or given in writing if mailed by first class mail, certified or registered, return receipt requested, or by
overnight air courier guaranteeing next day delivery, to its address shown on the Register; provided, however,
that a notice or communication to a Holder of a Global Note may, but need not, instead be sent pursuant to the Depositary
Procedures (in which case, such notice will be deemed to be duly sent or given in writing). The failure to send a notice or
communication to a Holder, or any defect in such notice or communication, will not affect its sufficiency with respect to any
other Holder. All notices, approvals, consents, requests and any communications hereunder must be in writing (provided that
any communication sent to Trustee hereunder must be in the form of a document that is signed manually or by way of a digital
signature), in English, and signatures of the parties hereto transmitted by facsimile, PDF or other electronic transmission
(including any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) will
constitute effective execution and delivery of this Indenture as to the other parties hereto and will be deemed to be their
original signatures for all purposes; provided, notwithstanding anything to the contrary set forth herein, the Trustee is
under no obligation to agree to accept electronic signatures in any form or format unless express agreed to by the Trustee
pursuant to procedures approved by the Trustee. The Company agrees to assume all risks arising out of the use of digital
signatures and electronic methods to submit communications to Trustee, including, without limitation, the risk of the Trustee
acting on unauthorized instructions, and the risk of interception and misuse by third parties.

 

If the Trustee is then
acting as the Depositary’s custodian for the Notes, then, at the reasonable request of the Company to the Trustee, the Trustee
will cause any notice prepared by the Company to be sent to any Holder(s) pursuant to the Depositary Procedures, provided
such request is evidenced in a Company Order delivered, together with the text of such notice, to the Trustee at least two (2)
Business Days before the date such notice is to be so sent. For the avoidance of doubt, such Company Order need not be accompanied
by an Officer’s Certificate or Opinion of Counsel. The Trustee will not have any liability relating to the contents of any
notice that it sends to any Holder pursuant to any such Company Order.

 

If a notice or communication
is mailed or sent in the manner provided above within the time prescribed, it will be deemed to have been duly given, whether or
not the addressee receives it.

 

Notwithstanding anything
to the contrary in this Indenture or the Notes, (A) whenever any provision of this Indenture requires a party to send notice to
another party, no such notice need be sent if the sending party and the recipient are the same Person acting in different capacities;
and (B) whenever any provision of this Indenture requires a party to send notice to more than one receiving party, and each receiving
party is the same Person acting in different capacities, then only one such notice need be sent to such Person.

 

Section
11.02. Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions
Precedent.

 

Upon any request or
application by the Company to the Trustee to take any action under this Indenture (other than the Opinion of Counsel described
in (B) with respect to the initial authentication of Notes under this Indenture), the Company will furnish to the Trustee:

 

(A)            
an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee that complies with Section
11.03 and states that, in the opinion of the signatory thereto, all conditions precedent and covenants, if any, provided for
in this Indenture relating to such action have been satisfied; and

 

    -81- 

     

    

 

(B)             
an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee that complies with Section 11.03
and states that, in the opinion of such counsel, all such conditions precedent and covenants, if any, have been satisfied.

 

Section
11.03. Statements Required in Officer’s Certificate and Opinion of Counsel.

 

Each Officer’s
Certificate (other than an Officer’s Certificate pursuant to Section 3.05) or Opinion of Counsel with respect to compliance
with a covenant or condition provided for in this Indenture will include:

 

(A)            
a statement that the signatory thereto has read such covenant or condition;

 

(B)            
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
therein are based;

 

(C)            
a statement that, in the opinion of such signatory, he, she or it has made such examination or investigation as is necessary
to enable him, her or it to express an informed opinion as to whether or not such covenant or condition has been satisfied; and

 

(D)           
a statement as to whether, in the opinion of such signatory, such covenant or condition has been satisfied.

 

Section
11.04. Rules by the Trustee, the Registrar and the Paying Agent.

 

The Trustee may make
reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable
requirements for its functions.

 

Section
11.05. No Personal Liability of Directors, Officers, Employees and Stockholders.

 

No past, present or
future director, officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations
of the Company under this Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or
their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of
the consideration for the issuance of the Notes.

 

Section
11.06. Governing Law; Waiver of Jury Trial.

 

THIS INDENTURE AND
THE NOTES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE OR THE NOTES, WILL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING
TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED BY THIS INDENTURE OR THE NOTES.

 

    -82- 

     

    

 

Section
11.07. Submission to Jurisdiction.

 

Any legal suit, action
or proceeding arising out of or based upon this Indenture or the transactions contemplated by this Indenture may be instituted
in the federal courts of the United States of America located in the City of New York or the courts of the State of New York, in
each case located in the City of New York (collectively, the “Specified Courts”), and each party irrevocably
submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons,
notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party’s address
set forth in Section 11.01 will be effective service of process for any such suit, action or proceeding brought in any such
court. Each of the Company, the Trustee and each Holder (by its acceptance of any Note) irrevocably and unconditionally waives
any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally
waives and agrees not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum.

 

Section
11.08. No Adverse Interpretation of Other Agreements.

 

Neither this Indenture
nor the Notes may be used to interpret any other indenture, note, loan or debt agreement of the Company or its Subsidiaries or
of any other Person, and no such indenture, note, loan or debt agreement may be used to interpret this Indenture or the Notes.

 

Section
11.09. Successors.

 

All agreements of the
Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its
successors.

 

Section
11.10. Force Majeure.

 

The Trustee and each
Note Agent will not incur any liability for not performing or for any delay in performing any act or fulfilling any duty, obligation
or responsibility under this Indenture or the Notes by reason of any occurrence beyond its control (including, without limitation,
any act or provision of any present or future law or regulation or governmental authority, act of God, earthquakes, fires, floods,
sabotage, epidemics, pandemics, riots, interruptions loss or malfunction of utilities, computer (hardware or software) or communications
service, accidents, acts of war, civil or military unrest, labor disputes, acts of civil or military authority or governmental
actions, local or national disturbance or disaster, act of terrorism or unavailability of the Federal Reserve Bank wire or facsimile
or other wire or communication facility).

 

Section
11.11. U.S.A. PATRIOT Act.

 

The Company acknowledges
that, in accordance with Section 326 of the U.S.A. PATRIOT Act, the Trustee, like all financial institutions, in order to help
fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each
person or legal entity that establishes a relationship or opens an account with the Trustee. The Company agrees to provide the
Trustee with such information as it may request to enable the Trustee to comply with the U.S.A. PATRIOT Act.

 

    -83- 

     

    

 

Section
11.12. Calculations.

 

Except as otherwise
provided in this Indenture, the Company will be responsible for making all calculations called for under this Indenture or the
Notes, including determinations of the Last Reported Sale Price, the Daily Conversion Value, the Daily Cash Amount, the Daily Share
Amount, any accrued Special Interest on the Notes and the Conversion Rate. None of the Trustee, the Paying Agent, the Registrar
nor the Conversion Agent will have any liability or responsibility for any calculation under this Indenture or in connection with
the Notes, any information used in connection with such calculation or any determination made in connection with a conversion.

 

The Company will make
all calculations in good faith, and, absent manifest error, its calculations will be final and binding on all Holders. The Company
will provide a schedule of its calculations in writing to the Trustee and the Conversion Agent, and each of the Trustee and the
Conversion Agent may rely conclusively on the accuracy of the Company’s calculations without independent verification. The
Trustee will promptly forward a copy of each such schedule to a Holder upon its written request therefor.

 

Section
11.13. Severability; Entire Agreement.

 

If a court of competent
jurisdiction declares any provision of this Indenture or the Notes is invalid, illegal or unenforceable, then the validity, legality
and enforceability of the remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby.
This Indenture and the exhibits hereto set forth the entire agreement and understanding of the parties related to this transaction
and supersede all prior agreements and understandings, written or oral.

 

Section
11.14. Counterparts.

 

The parties may sign
any number of copies of this Indenture. Each signed copy will be an original, and all of them together represent the same agreement.
Delivery of an executed counterpart of this Indenture by facsimile, electronically in portable document format or in any other
format will be effective as delivery of a manually executed counterpart.

 

Section
11.15. Table of Contents, Headings, Etc.

 

The table of contents
and the headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to
be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions of this Indenture.

 

Section
11.16. Withholding Taxes.

 

Each Holder of a
Note agrees, and each beneficial owner of an interest in a Global Note, by its acquisition of such interest, is deemed to
agree, that, if a Holder or such beneficial owner is deemed to have received a distribution subject to federal income tax as
a result of an adjustment or the non-occurrence of an adjustment to the Conversion Rate, (A) then any applicable withholding taxes or
backup withholding may be withheld from Special Interest, if any, and payments upon
conversion, repurchase, redemption or maturity of the Notes, and (B) if the Company or other applicable withholding agent
pays any such withholding taxes or backup withholding on behalf of such Holder or beneficial owner, then the Company or such
withholding agent, as applicable, may, at its option, withhold from or set off such payments against payments of cash or the
delivery of other Conversion Consideration on such Note, any payments on the Common Stock or sales proceeds received by, or
other funds or assets of, such Holder or the beneficial owner of such Note.

 

[The Remainder of This Page Intentionally
Left Blank; Signature Page Follows]

 

    -84- 

     

    

 

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

 

	 	SmileDirectClub, Inc.

 

	 	By:	/s/ Kyle Wailes
			Name:	Kyle Wailes
			Title:	Chief Financial Officer

 

	 	Wilmington trust, National Association, as Trustee 

 

	 	By:	/s/ Michale H. Wass
			Name:	Michael H. Wass
			Title:	Vice President

 

     

     

    

 

EXHIBIT A

 

FORM OF NOTE

 

[Insert Global Note Legend, if applicable]

 

[Insert Restricted Note Legend, if applicable]

 

[Insert Non-Affiliate Legend]

 

SMILEDIRECTCLUB, INC.

 

0.00% Convertible Senior Note due 2026

 

	CUSIP No.:	[___][Insert for a “restricted” CUSIP number: *]	Certificate No. [___]
	ISIN No.:	[___][Insert for a “restricted” ISIN number: *]	 

 

SmileDirectClub, Inc.,
a Delaware corporation, for value received, promises to pay to [Cede & Co.], or its registered assigns, the principal sum of
[___] dollars ($[___]) [(as revised by the attached Schedule of Exchanges of Interests in the Global Note)]†
on February 1, 2026 and to pay any Special Interest thereon, as provided in the Indenture referred to below, until the principal
and all accrued and unpaid Special Interest, if any, are paid or duly provided for.

 

	Special Interest Payment Dates:	February 1 and August 1 of each year, commencing on August 1, 2021.

 

	Special Interest Record Dates:	January 15 and July 15 (whether or not a Business Day).

 

Additional provisions
of this Note are set forth on the other side of this Note.

 

[The Remainder of This Page Intentionally
Left Blank; Signature Page Follows]

 

 

	*	This Note will be deemed to be identified by CUSIP No.
[___] and ISIN No. [___] from and after such time when the Company delivers, pursuant to Section 2.12 of the within-mentioned
Indenture, written notice to the Trustee of the deemed removal of the Restricted Note Legend affixed to this Note.
	 	 
	†	Insert bracketed language for Global Notes only.

 

    A-1 

     

    

 

IN
WITNESS WHEREOF, SmileDirectClub, Inc. has caused this instrument to be duly executed as of the date set forth below.

 

	 	 	 	SmileDirectClub, Inc.
	 	 	 	 
	Date:	                                                	 	By: 	                                       
		 		Name:
		 		Title:

 

    A-2 

     

    

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

Wilmington Trust, National Association,
as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture.

 

	Date:  	                                                	 	By:  	                                                
	 	 	Authorized Signatory

 

    A-3 

     

    

 

SMILEDIRECTCLUB, INC.

 

0.00% Convertible Senior Note due 2026

 

This Note is one of
a duly authorized issue of notes of SmileDirectClub, Inc., a Delaware corporation (the “Company”), designated
as its 0.00% Convertible Senior Notes due 2026 (the “Notes”), all issued or to be issued pursuant to an indenture,
dated as of February 9, 2021 (as the same may be amended from time to time, the “Indenture”), between the Company
and Wilmington Trust, National Association, as trustee. Capitalized terms used in this Note without definition have the respective
meanings ascribed to them in the Indenture.

 

The Indenture sets
forth the rights and obligations of the Company, the Trustee and the Holders and the terms of the Notes. Notwithstanding anything
to the contrary in this Note, to the extent that any provision of this Note conflicts with the provisions of the Indenture, the
provisions of the Indenture will control.

 

1.                 
Interest. This Note will bear no regular cash interest, and the principal amount of this Note shall not accrete.

 

2.                 
Maturity. This Note will mature on February 1, 2026, unless earlier repurchased, redeemed or converted.

 

3.                 
Method of Payment. Cash amounts due on this Note will be paid in the manner set forth in Section 2.04 of the Indenture.

 

4.                 
Persons Deemed Owners. The Holder of this Note will be treated as the owner of this Note for all purposes.

 

5.              Denominations; Transfers and Exchanges. All Notes will be in registered form, without coupons, in principal amounts
equal to any Authorized Denominations. Subject to the terms of the Indenture, the Holder of this Note may transfer or exchange
this Note by presenting it to the Registrar and delivering any required documentation or other materials.

 

6.               Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change. If a Fundamental Change occurs,
then each Holder will have the right to require the Company to repurchase such Holder’s Notes (or any portion thereof in
an Authorized Denomination) for cash in the manner, and subject to the terms, set forth in Section 4.02 of the Indenture.

 

7.                 
Right of the Company to Redeem the Notes. The Company will have the right to redeem the Notes for cash in the manner,
and subject to the terms, set forth in Section 4.03 of the Indenture.

 

8.               
Conversion. The Holder of this Note may convert this Note into Conversion Consideration in the manner, and subject
to the terms, set forth in Article 5 of the Indenture.

 

    A-4

     

    

 

9.                 When the Company May Merge, Etc. Article 6 of the Indenture places limited restrictions on the Company’s ability
to be a party to a Business Combination Event.

 

10.              
Defaults and Remedies. If an Event of Default occurs, then the principal amount of, and all accrued and unpaid Special
Interest, if any, on, all of the Notes then outstanding may (and, in certain circumstances, will automatically) become due and
payable in the manner, and subject to the terms, set forth in Article 7 of the Indenture.

 

11.               
Amendments, Supplements and Waivers. The Company and the Trustee may amend or supplement the Indenture or the Notes
or waive compliance with any provision of the Indenture or the Notes in the manner, and subject to the terms, set forth in Section
7.05 and Article 8 of the Indenture.

 

12.             No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or future director, officer,
employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under
the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting
any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance
of the Notes.

 

13.               
Authentication. No Note will be valid until it is authenticated by the Trustee. A Note will be deemed to be duly
authenticated only when an authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate
of authentication of such Note.

 

14.               
Abbreviations. Customary abbreviations may be used in the name of a Holder or its assignee, such as TEN COM (tenants
in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common),
CUST (custodian), and U/G/M/A (Uniform Gift to Minors Act).

 

15.            Governing Law. THIS NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS NOTE, WILL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

* * *

 

To request a copy of
the Indenture, which the Company will provide to any Holder at no charge, please send a written request to the following address:

 

SmileDirectClub,
Inc.

414 Union St., 8th Floor

Nashville, Tennessee 37219

Attention: Chief Financial Officer and Chief
Legal Officer

 

    A-5 

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN
THE GLOBAL NOTE *

 

INITIAL PRINCIPAL AMOUNT OF THIS GLOBAL
NOTE: $[___]

 

The following exchanges, transfers or cancellations
of this Global Note have been made:

 

	Date	 	Amount of Increase (Decrease) in Principal Amount of this Global Note	 	Principal Amount of this Global Note After Such Increase (Decrease)	 	Signature of Authorized Signatory of Trustee	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

 

 

	 	*	Insert for Global Notes only.

 

    A-6 

     

    

 

NOTICE OF CONVERSION

 

SMILEDIRECTCLUB, INC.

 

0.00% Convertible Senior Notes due 2026

 

Subject to the terms of the Indenture,
by executing and delivering this Notice of Conversion, the undersigned Holder of the Note identified below directs the Company
to convert (check one):

 

		o	the entire principal amount of

 

		o	$                     *
aggregate principal amount of

 

the Note identified by CUSIP No.                      
and Certificate No.                      .

 

The undersigned acknowledges that if the
Conversion Date of a Note to be converted is after a Special Interest Record Date and before the next Special Interest Payment
Date, then such Note, when surrendered for conversion, must, in certain circumstances, be accompanied with an amount of cash equal
to any Special Interest that would have accrued on such Note to, but excluding, such Special Interest Payment Date.

  

	Date:	 	 	 
	 	(Legal Name of Holder)

 

	 	By:	
	 		Name:
	 		Title:

 

	 	Signature Guaranteed:
	 	 
	 	Participant in a Recognized Signature
	 	Guarantee Medallion Program

 

	 	By:	
	 	Authorized Signatory

 

 

 

	 	*	Must be an Authorized Denomination.

 

    A-7 

     

    

 

FUNDAMENTAL CHANGE REPURCHASE NOTICE

 

SMILEDIRECTCLUB, INC.

 

0.00% Convertible Senior Notes due 2026

 

Subject to the terms of the Indenture,
by executing and delivering this Fundamental Change Repurchase Notice, the undersigned Holder of the Note identified below is exercising
its Fundamental Change Repurchase Right with respect to (check one):

 

		 ̈	the entire principal amount of

 

		 ̈	$                     [**]
aggregate principal amount of

 

the Note identified by CUSIP No.                      
and Certificate No.                      .

 

The undersigned acknowledges that this
Note, duly endorsed for transfer, must be delivered to the Paying Agent before the Fundamental Change Repurchase Price will be
paid.

  

	Date:	 	 	 
	 	(Legal Name of Holder)

 

	 	By:	
	 		Name:
	 		Title:

 

	 	Signature Guaranteed:
	 	 
	 	Participant in a Recognized Signature
	 	Guarantee Medallion Program

 

	 	By:	
	 	Authorized Signatory

 

 

 

	 	*	Must be an Authorized Denomination.

 

    A-8 

     

    

 

ASSIGNMENT FORM

 

SMILEDIRECTCLUB, INC.

 

0.00% Convertible Senior Notes due 2026

 

Subject to the terms of the Indenture,
the undersigned Holder of the within Note assigns to:

 

	Name:	

  

	Address:	

  

	Social security or 

tax identification 

number:	 

  

the within Note and all rights thereunder
irrevocably appoints:

 

as agent to transfer the within Note on
the books of the Company. The agent may substitute another to act for him/her.

  

	Date:	 	 	 
	 	(Legal Name of Holder)

 

	 	By:	
	 		Name:
	 		Title:

 

	 	Signature Guaranteed:
	 	 
	 	Participant in a Recognized Signature
	 	Guarantee Medallion Program

 

	 	By:	
	 	Authorized Signatory

  

    A-9 

     

    

 

TRANSFEROR ACKNOWLEDGMENT

 

If the within Note bears a Restricted Note
Legend, the undersigned further certifies that (check one):

 

		1.	o    Such Transfer is being made to the Company or a
                                                          Subsidiary of the Company.

 

		2.	o    Such Transfer is being made pursuant to, and in
                                                          accordance with, a registration statement that is effective under the Securities Act at the time of the Transfer.

 

		3.	o    Such Transfer is being made pursuant to, and in
                                                          accordance with, Rule 144A under the Securities Act, and, accordingly, the undersigned further certifies that the within Note
                                                          is being transferred to a Person that the undersigned reasonably believes is purchasing the within Note for its own account,
                                                          or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each
                                                          such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act in a
                                                          transaction meeting the requirements of Rule 144A. If this item is checked, then the transferee must complete and execute
                                                          the acknowledgment contained on the next page.

 

		4.	o    Such Transfer is being made pursuant to, and in
                                                          accordance with, any other available exemption from the registration requirements of the Securities Act (including, if
                                                          available, the exemption provided by Rule 144 under the Securities Act).

 

	Dated:	 	 	 

   

	 	 
	(Legal Name of Holder)	 

  

	By:	 	 
	 	Name:	 
	 	Title:	 

 

	Signature Guaranteed:	 
	 	 
	(Participant in a Recognized Signature	 
	Guarantee Medallion Program)	 

  

	By:	 	 
	Authorized Signatory	 

 

    A-10 

     

    

 

TRANSFEREE ACKNOWLEDGMENT

 

The undersigned represents that it is purchasing
the within Note for its own account, or for one or more accounts with respect to which the undersigned exercises sole investment
discretion, and that and the undersigned and each such account is a “qualified institutional buyer” within the meaning
of Rule 144A under the Securities Act. The undersigned acknowledges that the transferor is relying, in transferring the within
Note on the exemption from the registration and prospectus-delivery requirements of the Securities Act of 1933, as amended, provided
by Rule 144A and that the undersigned has received such information regarding the Company as the undersigned has requested pursuant
to Rule 144A.

 

	Dated:	 	 	 

 

	 	 
	(Name of Transferee)	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

    A-11 

     

    

 

EXHIBIT B-1

 

FORM OF RESTRICTED NOTE LEGEND

 

THIS SECURITY AND THE CLASS A COMMON STOCK,
IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY
ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

 

		(1)	REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER”
(WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH
SUCH ACCOUNT, AND

 

		(2)	AGREES FOR THE BENEFIT OF SMILEDIRECTCLUB, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER,
SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY AND THE CLASS A COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY,
IF ANY OR ANY BENEFICIAL INTEREST HEREIN OR THEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL
ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO
AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

		(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

		(B)	PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR

 

		(C)	TO A PERSON REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT, OR

 

	 	(D)	PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

PRIOR TO THE REGISTRATION OF ANY
TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF
SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE
THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO
REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.*

 

 

 

	*	This paragraph and the immediately preceding paragraph
will be deemed to be removed from the face of this Note at such time when the Company delivers written notice to the Trustee of
such deemed removal pursuant to Section 2.12 of the within-mentioned Indenture.

 

    B1-1 

     

    

 

EXHIBIT B-2

 

FORM OF GLOBAL NOTE LEGEND

 

THIS IS A GLOBAL NOTE WITHIN THE MEANING
OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH
MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS THE OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES.

 

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

 

TRANSFERS OF THIS GLOBAL NOTE WILL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS
OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE 2 OF
THE INDENTURE HEREINAFTER REFERRED TO.

 

    B2-1 

     

    

 

EXHIBIT B-3

 

FORM OF NON-AFFILIATE LEGEND

 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER
THE SECURITIES ACT) OF THE COMPANY OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE
COMPANY DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR OWN THIS SECURITY OR A BENEFICIAL INTEREST
HEREIN.

 

    B3-1

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