Document:

exv10w2

Exhibit 10.2

 

$300,000,000

CREDIT AGREEMENT

dated as of

June 28, 2011

among

TD AMERITRADE CLEARING, INC.,

as Borrower

The Lenders Party Hereto,

BANK OF AMERICA, N.A.,

as Syndication Agent

BARCLAYS BANK PLC, CITIBANK, N.A. and WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Co-Documentation Agents

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

___________________________

J.P. MORGAN SECURITIES LLC and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Joint Bookrunners and Joint Lead Arrangers

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I	 	 	 	 
	 
	Definitions	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	19	 
	SECTION 1.03. Terms Generally
	 	 	19	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	19	 
	SECTION 1.05. Pro Forma Calculations
	 	 	20	 
	 
	ARTICLE II	 	 	 	 
	 
	The Credits	 	 	 	 
	SECTION 2.01. Commitments
	 	 	20	 
	SECTION 2.02. Loans and Borrowings
	 	 	20	 
	SECTION 2.03. Requests for Revolving Borrowings
	 	 	21	 
	SECTION 2.04. [Reserved]
	 	 	21	 
	SECTION 2.05. Swingline Loans
	 	 	21	 
	SECTION 2.06. [Reserved]
	 	 	22	 
	SECTION 2.07. Funding of Loans
	 	 	23	 
	SECTION 2.08. Interest Elections
	 	 	23	 
	SECTION 2.09. Termination and Reduction of Commitments
	 	 	24	 
	SECTION 2.10. Repayment of Loans; Evidence of Debt
	 	 	25	 
	SECTION 2.11. Prepayment of Loans
	 	 	26	 
	SECTION 2.12. Fees
	 	 	26	 
	SECTION 2.13. Interest
	 	 	27	 
	SECTION 2.14. Alternate Rate of Interest
	 	 	27	 
	SECTION 2.15. Increased Costs
	 	 	28	 
	SECTION 2.16. Break Funding Payments
	 	 	29	 
	SECTION 2.17. Taxes
	 	 	29	 
	SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	32	 
	SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	 	 	34	 
	SECTION 2.20. Defaulting Lenders
	 	 	35	 
	 
	ARTICLE III	 	 	 	 
	 
	Representations and Warranties	 	 	 	 
	SECTION 3.01. Representations and Warranties of the Borrower
	 	 	36	 

i

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE IV	 	 	 	 
	 
	Conditions	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	39	 
	SECTION 4.02. Each Credit Event
	 	 	40	 
	 
	ARTICLE V	 	 	 	 
	 
	Covenants of the Borrower	 	 	 	 
	SECTION 5.01. Affirmative Covenants
	 	 	40	 
	SECTION 5.02. Negative Covenants
	 	 	42	 
	SECTION 5.03. Reporting Requirements
	 	 	46	 
	SECTION 5.04. Financial Covenants
	 	 	48	 
	 
	ARTICLE VI	 	 	 	 
	 
	Events of Default	 	 	 	 
	SECTION 6.01. Events of Default
	 	 	48	 
	 
	ARTICLE VII	 	 	 	 
	 
	[Reserved]	 	 	 	 
	 
	ARTICLE VIII	 	 	 	 
	 
	The Administrative Agent, Syndication Agent and Co-Documentation Agents	 	 	 	 
	 
	ARTICLE IX	 	 	 	 
	 
	Miscellaneous	 	 	 	 
	SECTION 9.01. Notices
	 	 	53	 
	SECTION 9.02. Waivers; Amendments
	 	 	54	 
	SECTION 9.03. Expenses; Indemnity; Damage Waiver
	 	 	55	 
	SECTION 9.04. Successors and Assigns
	 	 	56	 
	SECTION 9.05. Survival
	 	 	59	 
	SECTION 9.06. Counterparts; Integration; Effectiveness
	 	 	60	 
	SECTION 9.07. Severability
	 	 	60	 
	SECTION 9.08. Right of Setoff
	 	 	60	 
	SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	60	 
	SECTION 9.10. WAIVER OF JURY TRIAL
	 	 	61	 
	SECTION 9.11. Headings
	 	 	61	 
	SECTION 9.12. Confidentiality
	 	 	61	 
	SECTION 9.13. Interest Rate Limitation
	 	 	62	 
	SECTION 9.14. USA PATRIOT ACT
	 	 	63	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 9.15. No Fiduciary Duty
	 	 	63	 

SCHEDULES:

Schedule 2.01  — Commitments

Schedule 3.01(b) — Subsidiaries

EXHIBITS:

Exhibit A — Form of Assignment and Assumption

Exhibit B — Consolidated Tangible Net Worth Computations

Exhibit C — Form of U.S. Tax Certificate

iii

 

          CREDIT AGREEMENT dated as of June 28, 2011, among TD AMERITRADE CLEARING, INC., a
Nebraska corporation (the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to this Agreement (the “Lenders”), BANK OF AMERICA,
N.A., as syndication agent (the “Syndication Agent”), BARCLAYS BANK PLC, CITIBANK, N.A. and
WELLS FARGO BANK, NATIONAL ASSOCIATION, as co-documentation agents (the “Co-Documentation
Agents”) and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative
Agent”).

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “Administrative Agent” means JPMorgan Chase Bank, N.A. in its capacity as
administrative agent for the Lenders hereunder.

          “Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Administrative Agent.

          “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

          “Agreement Value” means, for each Hedge Agreement, on any date of determination, an
amount determined by the Borrower in the exercise of its reasonable business judgment equal to the
amount, if any, that would be payable by the Borrower or any of its Subsidiaries to its
counterparty to such Hedge Agreement in accordance with its terms as if (a) such Hedge Agreement
was being terminated early on such date of determination, (b) the Borrower or such Subsidiary was
the sole “Affected Party” and (c) the Borrower was the sole party determining such payment amount
pursuant to the provisions of the ISDA Master Agreement.

          “Applicable Percentage” means, with respect to any Lender, the percentage of the total
Commitments represented by such Lender’s Commitment. If the Commitments have terminated or
expired, the Applicable Percentages shall be determined based upon the Commitments most recently in
effect, giving effect to any assignments.

          “Applicable Rate” means, for any day, with respect to any Federal Funds Rate Loan or
Eurodollar Loan, or with respect to the commitment fees payable hereunder, as the case may be, the
applicable rate per annum set forth below under the caption “Federal Funds Rate Spread”,
“Eurodollar Spread” or “Commitment Fee Rate”, as the case may be, based upon the
ratings by Moody’s and S&P, respectively, applicable on such date to the Index Debt:

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	 	 	Eurodollar	 	 
	 	 	Rate and	 	 
	 	 	Federal Funds	 	Commitment
	Index Debt Ratings:	 	Rate Spread	 	Fee Rate
	Category 1:
Index Debt Ratings of at least A
by S&P/A2 By Moody’s
	 	1.00%	 	0.125%
	 
	 	 	 	 
	Category 2:
Index Debt Ratings of at least A-
by S&P/A3 By Moody’s and not
Category 1
	 	1.25%	 	0.15%
	 
	 	 	 	 
	Category 3:
Index Debt Ratings of at least
BBB+ by S&P/Baa1 by Moody’s and
not Category 1 or 2
	 	1.50%	 	0.20%
	 
	 	 	 	 
	Category 4:
Index Debt Ratings of at least BBB
by S&P/Baa2 by Moody’s and not
Category 1, 2 or 3
	 	1.75%	 	0.25%
	 
	 	 	 	 
	Category 5:
Index Debt Ratings below Category 4
	 	2.00%	 	0.30%

          For purposes of the foregoing, (i) if either Moody’s or S&P shall not have in effect a rating
for the Index Debt, then the Applicable Rate shall be determined by reference to the available
rating; (ii) if the ratings established by Moody’s and S&P for the Index Debt shall fall within
different Categories, the Applicable Rate shall be based on the higher of the two ratings unless
one of the two ratings is two or more Categories lower than the other, in which case the Applicable
Rate shall be determined by reference to the Category next below that of the higher of the two
ratings; and (iii) if the ratings established by Moody’s and S&P for the Index Debt shall be
changed (other than as a result of a change in the rating system of Moody’s or S&P), such change
shall be effective as of the date on which it is first announced by the applicable rating agency,
irrespective of when notice of such change shall have been furnished by the Borrower to the Agent
and the Lenders pursuant to Section 5.03(g) or otherwise. Each change in the Applicable Rate shall
apply during the period commencing on the effective date of such change and ending on the date
immediately preceding the effective date of the next such change. If the Administrative Agent and
the Borrower shall determine that the rating system of Moody’s or S&P shall have changed, or if
such rating agencies shall cease to be in the business of rating corporate debt obligations, the
Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such
changed rating system or the unavailability of ratings from such rating agencies and, pending the
effectiveness of any such amendment, the Applicable Rate shall be determined by reference to the
rating most recently in effect prior to such change or cessation.

          “Approved Fund” has the meaning assigned to such term in Section 9.04.

          “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section

2

 

9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent.

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment, provided that a
Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of
any ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such
Person with immunity from the jurisdiction of courts within the United States or from the
enforcement of judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts
or agreements made by such Person.

          “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.

          “Borrower” has the meaning assigned to such term in the preamble to this Agreement.

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect or (b) a Swingline Loan.

          “Borrowing Request” means a request by the Borrower for a Revolving Borrowing in
accordance with Section 2.03.

          “Broker-Dealer Subsidiary” means any Subsidiary of the Parent that (a) is a
“registered broker and/or dealer” under the Securities Exchange Act or under any similar foreign
law or regulatory regime established for the registration of brokers and/or dealers of securities
and/or (b) is required to be registered under the Commodity Exchange Act or under any similar
regulatory regime established for the registration of operators, merchants, brokers and/or dealers
of commodities, including, but not limited to, future commissions merchants, introducing brokers
and commodity pool operators.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business Day”
shall also exclude any day on which banks are not open for dealings in dollar deposits in the
London interbank market.

3

 

          “Capitalized Lease Obligations” of any Person means the obligations of such Person to
pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real
or personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP;
provided, however, that, for the avoidance of doubt, any obligations relating to a lease that was
accounted for by such Person as an operating lease as of the Effective Date and any similar lease
entered into after the Effective Date by such Person shall be accounted for as an operating lease
and not a Capitalized Lease Obligation.

          “CFC” means an entity that is a controlled foreign corporation of the Borrower under
Section 957 of the Internal Revenue Code.

          “Change in Law” means the occurrence, after the date of this Agreement (or with
respect to any Lender, if later, the date on which such Lender becomes a Lender), of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority, or (c) the making or issuance of any request, rules,
guideline, requirement or directive (whether or not having the force of law) by any Governmental
Authority; provided however, that notwithstanding anything herein to the contrary,(i) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines,
requirements and directives thereunder, issued in connection therewith or in implementation
thereof, and (ii) all requests, rules, guidelines, requirements and directives promulgated by the
Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States or foreign regulatory authorities, in each case pursuant to
Basel III, shall in each case be deemed to a “Change in Law” regardless of the date
enacted, adopted, issued or implemented.

          “Change of Control” means the occurrence of any of the following: (a) other than by
virtue of the exercise of collective voting rights of the TD Shareholders and the R Parties under
the Stockholders Agreement, the TD Shareholders or the R Parties shall have (i) acquired beneficial
ownership (within the meaning of Rule 13d-3 under the Securities Exchange Act), directly or
indirectly, or (ii) acquired by contract or otherwise, or shall have entered into a contract or
arrangement that, upon consummation, will result in its or their acquisition of control of, in
either case, Voting Interests of the Parent (or other securities convertible into such Voting
Interests) representing more than 45% (or, with respect to the TD Shareholders, such higher “TD
Ownership Limitation Percentage” (as defined in the Stockholders Agreement) as the TD
Shareholders shall have obtained as contemplated by the definition of “TD Ownership Limitation
Percentage” or as permitted pursuant to Section 2.1(b) of the Stockholders Agreement) of the
combined voting power of all Voting Interests of the Parent, provided that prior to
termination of the TD Shareholders’ obligations under Section 2.1(a) of the Stockholders Agreement,
in the event that the TD Shareholders shall have obtained securities in excess of the TD Ownership
Limitation Percentage in compliance with Section 2.1(c) of the Stockholders Agreement, such event
shall not constitute a “Change of Control” for purposes hereof; provided that the
“Stockholders Agreement” referenced in this clause (a) shall mean the Stockholders
Agreement as amended, restated, supplemented or otherwise modified and in effect as of the date
hereof; (b) any Person or two or more Persons acting in concert (other than the TD Shareholders and
the R

4

 

Parties) shall have (i) acquired beneficial ownership (within the meaning of Rule 13d-3 under
the Securities Exchange Act), directly or indirectly, or (ii) acquired by contract or otherwise, or
shall have entered into a contract or arrangement that, upon consummation, will result in its or
their acquisition of control of, in either case, Voting Interests of the Parent (or other
securities convertible into such Voting Interests) representing more than 35% of the combined
voting power of all Voting Interests of the Parent; (c) during any period of up to 24 consecutive
months, commencing before or after the date of this Agreement, Continuing Directors shall cease for
any reason to constitute a majority of the board of directors of the Parent; or (d) the Parent
shall cease to own, directly or indirectly, all of the Equity Interests of the Borrower. “TD
Shareholders” means The Toronto-Dominion Bank and its Subsidiaries. “R Parties” has the
meaning set forth in the Stockholders Agreement. “Continuing Directors” means the directors
of the Parent on the date hereof and each other director if, in each case, such other director’s
nomination for election to the board of directors of the Parent is recommended by (a) the TD
Shareholders solely pursuant to the Stockholders Agreement, (b) the R Parties solely pursuant to
the Stockholders Agreement or (c) at least a majority of the then Continuing Directors who are
Outside Independent Directors (as defined in the Stockholders Agreement).

          “Charges” has the meaning assigned to such term in Section 9.13.

          “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

          “Co-Documentation Agents” has the meaning assigned to such term in the preamble to
this Agreement.

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

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Swingline Loans hereunder, expressed as an amount
representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as
such commitment may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or
increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.
The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment
and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The
initial aggregate amount of the Lenders’ Commitments is $300,000,000.

          “Consolidated” refers to the consolidation of accounts in accordance with GAAP.

          “Consolidated Tangible Net Worth” means, at any date, all amounts that would, in
conformity with GAAP, be included on a consolidated balance sheet of the Borrower and its
Subsidiaries under stockholders’ equity at such date minus the amount of all intangible
items included therein, including, without limitation, goodwill, franchises, licenses, patents,
trademarks, trade names, copyrights, service marks, brand names and write-ups of assets (other than
non-cash gains resulting from mark to market adjustments of securities positions made in the
ordinary course of business) (but only to the extent that such items would be included on a
consolidated balance sheet of the Borrower and its Subsidiaries in accordance with GAAP).

5

 

          “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management and policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

          “Credit Documents” means (i) this Agreement and (ii) the Notes, in each case as
amended, restated, supplemented or otherwise modified.

          “Debt” of any Person means, without duplication, (a) all indebtedness of such Person
for borrowed money, (b) all payment Obligations of such Person for the deferred purchase price of
property or services (other than trade payables not more than 60 days past due incurred in the
ordinary course of such Person’s business), (c) all payment Obligations of such Person evidenced by
notes, bonds, debentures or other similar instruments, (d) all payment Obligations of such Person
created or arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or lender under
such agreement in the event of default are limited to repossession or sale of such property), (e)
all payment Obligations of such Person as lessee under Capitalized Lease Obligations, (f) all
payment Obligations of such Person as an account party under acceptance or similar facilities, (g)
all Obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment
in respect of any Equity Interests in such Person or any other Person or any warrants, rights or
options to acquire such Equity Interests, valued, in the case of Redeemable Preferred Interests, at
the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid
dividends, (h) all payment Obligations of such Person in respect of Hedge Agreements, valued at the
Agreement Value thereof, (i) all Guaranteed Debt of such Person, (j) all Obligations of such Person
in respect of non-contingent reimbursement obligations pursuant to letters of credit and (k) all
indebtedness and other payment Obligations referred to in clauses (a) through (j) above of another
Person secured by (or for which the holder of such Debt has an existing right, contingent or
otherwise, to be secured by) any Lien on property (including, without limitation, accounts and
contract rights) owned by such Person, even though such Person has not assumed or become liable for
the payment of such indebtedness or other payment Obligations; provided that, if such
Person has not assumed or otherwise become liable in respect of such Debt or other payment
Obligations, such indebtedness or payment Obligations shall be deemed to be in an amount equal to
the fair market value of the property subject to such Lien at the time of determination.

          “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

          “Defaulting Lender” means any Lender that, in the reasonable determination of the
Administrative Agent, (a) has failed, within three (3) Business Days of the date required to be
funded or paid, to (i) fund any portion of its Loans or (ii) pay over to the Borrower any other
amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender
notifies the Administrative Agent in writing that such failure is the result of such Lender’s good
faith determination that a condition precedent to funding (specifically identified and including
the particular default, if any) has not been satisfied, (b) has notified the Borrower in writing,
or has made a public statement to the effect, that it does not intend or expect to comply with any
of

6

 

its funding obligations under this Agreement (unless such writing or public statement
indicates that such position is based on such Lender’s good faith determination that a condition
precedent (specifically identified and including the particular default, if any) to funding a loan
under this Agreement cannot be satisfied) or generally under other agreements in which it commits
to extend credit, (c) has failed, within three (3) Business Days after written request by the
Borrower, acting in good faith, to provide a certification in writing from an authorized officer of
such Lender that it will comply with its obligations to fund prospective Loans and participations
in then outstanding Swingline Loans under this Agreement, provided that such Lender shall
cease to be a Defaulting Lender pursuant to this clause (c) upon the Borrower’s receipt of such
certification in form and substance satisfactory to the Borrower and the Administrative Agent, or
(d) has become, or the Lender Parent has become, the subject of a Bankruptcy Event.

          “dollars” or “$” refers to lawful money of the United States of America.

          “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 9.02).

          “Environmental Action” means any action, suit, demand, demand letter, claim, notice of
non compliance or violation, notice of liability or potential liability, investigation, proceeding,
consent order or consent agreement relating in any way to any Environmental Law, any Environmental
Permit or Hazardous Material or arising from alleged injury or threat to health, safety or the
environment, including, without limitation, (a) by any governmental or regulatory authority for
enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any
governmental or regulatory authority or third party for damages, contribution, indemnification,
cost recovery, compensation or injunctive relief.

          “Environmental Laws” means any Federal, state, local or foreign statute, law,
ordinance, rule, regulation, code, order, writ, judgment, injunction, decree or judicial or agency
interpretation, policy or guidance relating to pollution or protection of the environment, health,
safety or natural resources, including, without limitation, those relating to the use, handling,
transportation, treatment, storage, disposal, release or discharge of Hazardous Materials.

          “Environmental Permit” means any permit, approval, identification number, license or
other authorization required under any Environmental Law.

          “Equity Contribution” has the meaning set forth in the definition of Minimum TNW.

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

          “Equity Payment” has the meaning set forth in the definition of Minimum TNW.

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and the regulations promulgated and rulings issued thereunder.

7

 

          “ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a member
of the controlled group of the Borrower, or under common control with the Borrower, within the
meaning of Section 414 of the Internal Revenue Code.

          “ERISA Event” means (a)(i) the occurrence of a reportable event, within the meaning of
Section 4043 of ERISA, with respect to any Plan unless the 30 day notice requirement with respect
to such event has been waived by the PBGC or (ii) the requirements of Section 4043(b) of ERISA
apply with respect to a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a
Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA
is reasonably expected to occur with respect to such Plan within the following 30 days; (b) the
application for a minimum funding waiver with respect to a Plan; (c) the provision by the
administrator of any Plan of a notice of intent to terminate such Plan, pursuant to Section
4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in
Section 4041(e) of ERISA); (d) the cessation of operations at a facility of the Borrower or any
ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by
the Borrower or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it
was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) the conditions for
imposition of a lien under Section 303(k) of ERISA shall have been met with respect to any Plan;
(g) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of
ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that
constitutes grounds for the termination of, or the appointment of a trustee to administer, such
Plan; or (h) the failure of any insured medical Plan to satisfy the non-discrimination requirements
of Section 105 of the Code.

          “Eurocurrency Reserve Requirements” for any Interest Period for all Eurodollar Loans
comprising part of the same Borrowing means the reserve percentage applicable from time to time
under regulations issued from time to time by the Board of Governors of the Federal Reserve System
(or any successor) for determining the maximum reserve requirement (including, without limitation,
any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal
Reserve System in New York City with respect to liabilities or assets consisting of or including
Eurocurrency Liabilities (or with respect to any other category of liabilities that includes
deposits by reference to which the interest rate on Eurodollar Loans is determined) having a term
equal to such Interest Period.

          “Eurodollar Base Rate” means, with respect to each day during each Interest Period
pertaining to a Eurodollar Loan, the rate per annum determined on the basis of the rate for
deposits in Dollars for a period equal to such Interest Period commencing on the first day of such
Interest Period appearing on the Reuters Screen LIBOR01 Page as of 11:00 A.M., London time, two (2)
Business Days prior to the beginning of such Interest Period. In the event that such rate does not
appear on such page (or otherwise on such screen), the “Eurodollar Base Rate” shall be
determined by reference to such other comparable publicly available service for displaying
eurodollar rates as may be selected by the Administrative Agent or, in the absence of such
availability, by reference to the rate at which the Administrative Agent is offered Dollar deposits
at or about 11:00 A.M., New York City time, two (2) Business Days prior to the beginning of such
Interest Period in the interbank eurodollar market where its eurodollar and foreign currency and
exchange operations are then being conducted for delivery on the first day of such Interest Period
for the number of days comprised therein.

8

 

          “Eurodollar Borrowing” means a Borrowing comprised of Eurodollar Loans.

          “Eurodollar Loans” means Loans the rate of interest applicable to which is based upon
the Eurodollar Rate.

          “Eurodollar Rate” means with respect to each day during each Interest Period
pertaining to a Eurodollar Loan, a rate per annum determined for such day in accordance with the
following formula:

Eurodollar Base Rate
 

1.00 — Eurocurrency Reserve Requirements

          “Event of Default” has the meaning assigned to such term in Article VI.

          “Excluded Taxes” means, with respect to any payment made by the Borrower under any
Credit Document, any of the following Taxes imposed on or with respect to a Recipient: (a) income
or franchise Taxes imposed on (or measured by) net income by the United States of America, or by
the jurisdiction under the laws of which such Recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable lending office is located,
(b) any branch profits Taxes imposed by the United States of America or any similar Taxes imposed
by any other jurisdiction in which the Borrower is located and (c) in the case of a Non-U.S. Lender
(other than an assignee pursuant to a request by the Borrower under Section 2.19(b)), any U.S.
Federal withholding Taxes resulting from any requirement of law in effect (including FATCA) on the
date such Non-U.S. Lender becomes a party to this Agreement (or designates a new lending office) or
is attributable to such Non-U.S. Lender’s failure to comply with Section 2.17(f), except to the
extent that such Non-U.S. Lender (or its assignor, if any) was entitled, at the time of designation
of a new lending office (or assignment), to receive additional amounts from the Borrower with
respect to such withholding Taxes pursuant to Section 2.17(a).

          “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement
and any regulations or official interpretations thereof.

          “Federal Funds Effective Rate” means, for any day, the weighted average of the rates
on overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank
of New York, or, if such rate is not so published for any day that is a Business Day, the average
of the quotations for such day for such transactions received by the Administrative Agent from
three Federal funds brokers of recognized standing selected by it.

          “Federal Funds Rate” means, for any day, a rate per annum equal to the greater of (a)
the rate of interest per annum which is the average of the rates on the offered side of the Federal
funds market quoted by three interbank Federal funds brokers at the approximate time of the
relevant Borrowing (for the first day of such Borrowing and until the next Business Day) and 12:00
noon (New York City time) (for each subsequent Business Day on which such Borrowing is
outstanding), for Federal funds in an amount comparable to the portion of such Borrowing

9

 

made available by the Administrative Agent and (b) the Eurodollar Rate for a one-month
Interest Period commencing two (2) Business Days after such day.

          “Federal Funds Rate Borrowing” means a Borrowing comprised of Federal Funds Rate
Loans.

          “Federal Funds Rate Loans” means Loans the rate of interest applicable to which is
based upon the Federal Funds Rate.

          “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower.

          “FINRA” means the Financial Industry Regulatory Authority, Inc., or any other
self-regulatory body which succeeds to the functions of the Financial Industry Regulatory
Authority, Inc.

          “Fiscal Year” means a fiscal year of the Borrower and its Consolidated Subsidiaries
ending on the last day of September in any calendar year.

          “FOCUS-II Report” means the Financial and Operational Combined Uniform Single Report
on Form X-17A-5 Part II.

          “GAAP” means generally accepted accounting principles in the United States of America.

          “Governmental Authority” means any nation or government, any state, province, city,
municipal entity or other political subdivision thereof, and any governmental, executive,
legislative, judicial, administrative or regulatory agency, department, authority, instrumentality,
commission, board, bureau or similar body, including, without limitation, any self-regulatory
organization as defined in Section 3(a)(26) of the Securities Exchange Act, whether federal, state,
provincial, territorial, local or foreign.

          “Governmental Authorization” means any authorization, approval, consent, franchise,
license, covenant, order, ruling, permit, certification, exemption, notice, declaration or similar
right, undertaking or other action of, to or by, or any filing, qualification or registration with,
any Governmental Authority.

          “Guaranteed Debt” means, with respect to any Person, any payment Obligation or
arrangement of such Person to guarantee or intended to guarantee any Debt, leases, dividends or
other payment Obligations (“primary obligations”) of any other Person (the “primary obligor”) in
any manner, whether directly or indirectly, including, without limitation, (a) the direct or
indirect guarantee, endorsement (other than for collection or deposit in the ordinary course of
business), co-making, discounting with recourse or sale with recourse by such Person of the payment
Obligation of a primary obligor, (b) the payment Obligation to make take-or-pay or similar
payments, if required, regardless of nonperformance by any other party or parties to an agreement
or (c) any payment Obligation of such Person, whether or not contingent, (i) to purchase any such
primary obligation or any property constituting direct or indirect security therefor, (ii) to
advance or supply funds (A) for the purchase or payment of any such primary

10

 

obligation or (B) to maintain working capital or equity capital of the primary obligor or
otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property,
assets, securities or services primarily for the purpose of assuring the owner of any such primary
obligation of the ability of the primary obligor to make payment of such primary obligation or (iv)
otherwise to assure or hold harmless the holder of such primary obligation against loss in respect
thereof. The amount of any Guaranteed Debt shall be deemed to be an amount equal to the stated or
determinable amount of the primary obligation in respect of which such Guaranteed Debt is made (or,
if less, the maximum amount of such primary obligation for which such Person may be liable pursuant
to the terms of the instrument evidencing such Guaranteed Debt) or, if not stated or determinable,
the maximum reasonably anticipated liability in respect thereof (assuming such Person is required
to perform thereunder), as determined by such Person in good faith.

          “Guaranteed Hedge Agreement” means any Hedge Agreement permitted under Article V that
is entered into by and between the Borrower and any Hedge Bank.

          “Hazardous Materials” means (a) petroleum or petroleum products, by-products or
breakdown products, radioactive materials, asbestos-containing materials, polychlorinated biphenyls
and radon gas and (b) any other chemicals, materials or substances designated, classified or
regulated as hazardous or toxic or as a pollutant or contaminant under any Environmental Law.

          “Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate
future or option contracts, currency swap agreements, currency future or option contracts and other
hedging agreements. 

          “Hedge Bank” means (a) any Lender or an Affiliate of a Lender in its capacity as a
party to a Guaranteed Hedge Agreement or (b) any counterparty to a Guaranteed Hedge Agreement that
was a Lender or Affiliate of a Lender at the time such Guaranteed Hedge Agreement was entered into
by such counterparty.

          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by the Borrower under any Credit Document and (b) Other Taxes.

          “Indemnitee” has the meaning specified in Section 9.03(b).

          “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the
Parent that is not guaranteed by any other Person or subject to any other credit enhancement.

          “Information Memorandum” means the Confidential Information Memorandum dated June 1,
2011 relating to the Borrower and the Transactions.

          “Interest Election Request” means a request by the Borrower to convert or continue a
Revolving Borrowing in accordance with Section 2.08.

11

 

          “Interest Payment Date” means (a) with respect to any Federal Funds Rate Loan (other
than a Swingline Loan), the last day of each calendar month, (b) with respect to any Eurodollar
Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part
and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’
duration, each day prior to the last day of such Interest Period that occurs at intervals of three
months’ duration after the first day of such Interest Period and (c) with respect to any Swingline
Loan, the day that such Loan is required to be repaid.

          “Interest Period” means, with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect;
provided, that

          (i) if any Interest Period would end on a day other than a Business Day, such Interest Period
shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing
only, such next succeeding Business Day would fall in the next calendar month, in which case such
Interest Period shall end on the next preceding Business Day and

          (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially
shall be the date on which such Borrowing is made and, in the case a Revolving Borrowing,
thereafter shall be the effective date of the most recent conversion or continuation of such
Borrowing.

          “IRS” means the United States Internal Revenue Service.

          “ISDA Master Agreement” means the Master Agreement (Multicurrency-Cross Border)
published by the International Swap and Derivatives Association, Inc., as in effect from time to
time.

          “Lead Arrangers” means J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner &
Smith Incorporated.

          “Lender Parent” means, with respect to any Lender, any Person as to which such Lender
is, directly or indirectly, a subsidiary.

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall
have become a party hereto pursuant to an Assignment and Assumption, other than any such Person
that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context
otherwise requires, the term “Lenders” includes the Swingline Lender.

          “Lien” means any lien, security interest or other charge of any kind, or any other
type of preferential arrangement intended to have the effect of a lien or security interest,
including, without limitation, the lien or retained security title of a conditional vendor and any
easement, right of way or other encumbrance on title to real property.

12

 

          “Loans” means the loans made by the Lenders to the Borrower pursuant to this
Agreement.

          “Material Adverse Effect” means any event that could reasonably be expected to have a
material adverse effect on (a) the business, financial condition, or results of operations of the
Borrower and its Subsidiaries, taken as a whole, since September 30, 2010, (b) the rights and
remedies of the Lenders under any Credit Document or (c) the ability of the Borrower, taken as a
whole, to perform their obligations under any Credit Document (any such effect being a
“Material Adverse Effect”).

          “Maturity Date” means June 28, 2014.

          “Maximum Rate” has the meaning assigned to such term in Section 9.13.

          “Measurement Period” means, except as otherwise expressly provided herein, each period
of four consecutive fiscal quarters of the Borrower.

          “Minimum TNW” means, at any time, $975,000,000; provided that such amount shall be (a)
reduced on a dollar-for-dollar basis by an amount equal to any dividend or other distribution paid
by the Borrower on, or any repurchase or redemption by the Borrower of, any Equity Interests of
the Borrower since the Effective Date (each, an “Equity Payment”) and (b) increased on a
dollar-for-dollar basis by (i) an amount equal to the sum of (x) 50% of Consolidated net income of
the Borrower for each fiscal quarter of the Borrower ended after the Closing Date for which such
Consolidated net income is positive and (ii) an amount equal to the proceeds received on account of
equity contributions to the Borrower or issuances by the Borrower of its Equity Interests (each, an
“Equity Contribution”); provided, further, that the Minimum TNW shall in no event be less
than $650,000,000. Notwithstanding the foregoing, the Borrower may make an election that any
Equity Contribution shall not increase Minimum TNW but, if it makes such an election, all
subsequent Equity Payments shall not reduce Minimum TNW until the amount of such subsequent Equity
Payments equal the amount of such Equity Contribution.

          “Moody’s” means Moody’s Investors Service, Inc., or any successor thereto.

          “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of
ERISA to which the Borrower or any ERISA Affiliate has contributed or has had an obligation to
contribute.

          “Non-Consenting Lender” has the meaning assigned to such term in Section 2.19(b).

          “Non-U.S. Lender” means a Lender that is not a U.S. Person.

          “Notes” means the collective reference to any promissory note evidencing Loans.

          “Obligation” means, with respect to any Person, any payment, performance or other
obligation of such Person of any kind, including, without limitation, any liability of such Person
on any claim, whether or not the right of any creditor to payment in respect of such claim

13

 

is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, disputed,
undisputed, legal, equitable, secured or unsecured, and whether or not such claim is discharged,
stayed or otherwise affected by any proceeding referred to in Section 6.01(f). Without limiting the
generality of the foregoing, the Obligations of the Borrower under the Credit Documents include (a)
the obligation to pay principal, interest, charges, expenses, fees, attorneys’ fees and
disbursements, indemnities and other amounts payable by the Borrower under any Credit Document and
(b) the obligation of the Borrower to reimburse any amount in respect of any of the foregoing that
any Lender, in its sole discretion, may elect to pay or advance on behalf of the Borrower.

          “Ordinary Course Operating Debt” means (i) Debt incurred for operational liquidity
needs pursuant to lines of credit and other liabilities payable to brokers, dealers, clearing
organizations, clients and correspondents, and liabilities in respect of securities or commodities
sold but not yet purchased and Debt of the Borrower, in each case incurred in the ordinary course
of the “broker-dealer” or “commodity futures trading” business of the Broker-Dealer Subsidiaries,
including Debt incurred in the ordinary course of business to finance or secure the purchase or
carrying of securities, the provision of margin for forward, futures, repurchase or similar
transactions, the making of advances to customers, the establishment of performance or surety bonds
or guarantees, or in the nature of a letter of credit or letter of guaranty to support or secure
trading and other obligations incurred in the ordinary course of business, (ii) accounts payable
and accrued liabilities in the ordinary course of business of the Borrower and its Subsidiaries,
(iii) notes, bills and checks presented in the ordinary course of business by such Person to banks
for collection or deposit, (iv) all obligations of the Borrower and its Subsidiaries of the
character referred to in this definition to the extent owing to the Borrower or any of its
Subsidiaries and (v) Guaranteed Debt arising in the ordinary course of business pursuant to
contract or applicable law, rule or regulation with respect to the Obligations of other members of
securities and commodities clearinghouses and exchanges.

          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a
result of a present or former connection between such Recipient and the jurisdiction imposing such
Taxes (other than a connection arising solely from such Recipient having executed, delivered,
enforced, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, or engaged in any other transaction pursuant to, or enforced,
any Credit Document, or sold or assigned an interest in any Credit Document).

          “Other Taxes” mean any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Credit
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment under Section 2.19(b)).

          “Parent” means TD Ameritrade Holding Corporation, a Delaware corporation.

          “Participant” has the meaning set forth in Section 9.04.

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          “Participant Register” has the meaning set forth in Section 9.04.

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Encumbrances” means such of the following as to which no enforcement,
collection, execution, levy or foreclosure proceeding shall have been commenced:

          (a) Liens for unpaid utilities and for taxes, assessments and governmental charges or levies
to the extent not yet due or otherwise not required to be paid under Section 5.01(b);

          (b) Liens imposed by law, such as landlords’, materialmen’s, mechanics’, carriers’, workmen’s
and repairmen’s Liens and other similar Liens arising in the ordinary course of business securing
obligations that (i) are not overdue for a period of more than 30 days or are being contested in
good faith by appropriate proceedings diligently prosecuted and (ii) individually or together with
all other Permitted Encumbrances outstanding on any date of determination do not materially
adversely affect the use of the property to which they relate;

          (c) pledges or deposits in the ordinary course of business to secure obligations under
workers’ compensation, unemployment insurance or other social security or employment laws or
regulations or similar legislation or to secure public, statutory or regulatory obligations;

          (d) deposits to secure the performance of bids, trade contracts and leases (other than Debt),
statutory or regulatory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;

          (e) Liens securing judgments for the payment of money not constituting a Default under Section
6.01(g) or securing appeal or other surety bonds related to such judgments;

          (f) easements, rights of way, covenants, zoning, use restrictions and other encumbrances on
title to real property that do not render title to the property encumbered thereby unmarketable or
materially adversely affect the use of such property for its present purposes;

          (g) any interest or title of a lessor, sublessor, licensee or licensor under any operating
lease or license agreement entered into in the ordinary course of business and not interfering in
any material respect with the business of the Borrower or any of its Subsidiaries;

          (h) banker’s liens, rights of set off or similar rights and remedies as to deposit accounts or
other funds maintained with depository institutions in the ordinary course of business; and

          (i) Liens arising by virtue of Uniform Commercial Code financing statement filings (or similar
filings under applicable law) regarding operating leases entered into in the ordinary course of
business.

          “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.

15

 

          “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

          “Preferred Interests” means, with respect to any Person, Equity Interests issued by
such Person that are entitled to a preference or priority over any other Equity Interests issued by
such Person upon any distribution of such Person’s property and assets, whether by dividend or upon
liquidation.

          “Recipient” means, as applicable, (a) the Administrative Agent and (b) any Lender.

          “Redeemable” means, with respect to any Equity Interest, any such Equity Interest that
(a) the issuer has undertaken to redeem at a fixed or determinable date or dates, whether by
operation of a sinking fund or otherwise, or upon the occurrence of a condition not solely within
the control of the issuer or (b) is redeemable at the option of the holder.

          “Register” has the meaning set forth in Section 9.04.

          “Regulatory Net Capital” of any Person means (a) in the case such Person is a
Broker-Dealer Subsidiary of the type described in clause (a) of the definition of “Broker-Dealer
Subsidiary”, the amount of net capital held by such Person as a broker-dealer under Section
15(c)(3) of the Securities Exchange Act and regulations promulgated thereunder (or under comparable
statutes and regulations of the applicable jurisdiction) and (b) in the case such Person is a
Broker-Dealer Subsidiary of the type described in clause (b) of the definition of “Broker-Dealer
Subsidiary”, the amount of net capital held by such Person as a futures commission merchant or
introducing broker under Section 4f(b) of the Commodity Exchange Act and regulations promulgated
thereunder (or under comparable statutes and regulations of the applicable jurisdiction).

          “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.

          “Required Lenders” means, at any time, the holders of more than 50% of the Commitments
then in effect or, if the Commitments have been terminated, the Revolving Extensions of Credit then
outstanding.

          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans and Swingline Exposure at such
time.

          “Revolving Extensions of Credit” means as to any Lender at any time, an amount equal
to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then
outstanding and (b) such Lender’s Applicable Percentage of the aggregate principal amount of
Swingline Loans then outstanding.

16

 

          “Revolving Loan” means a Loan made pursuant to Section 2.03.

          “SEC” means the Securities and Exchange Commission, any successor thereto and any
analogous Governmental Authority.

          “Securities Exchange Act” means Securities Exchange Act of 1934, as amended from time
to time.

          “Significant Subsidiary” means, at any time, a Subsidiary of the Borrower that is a
“significant subsidiary” as defined in Rule 1.02(w) of Regulation S-X of the SEC, determined based
upon the Borrower’s most recent consolidated financial statements for the most recently completed
Fiscal Year as set forth in the Borrower’s Annual Report on Form 10-K (or 10-K-A) filed with the
SEC; provided that in the case of a Subsidiary formed or acquired after the Effective Date,
the determination of whether such Subsidiary is a Significant Subsidiary shall be made on a pro
forma basis based on the Borrower’s most recent consolidated financial statements for the most
recently completed fiscal quarter or Fiscal Year, as applicable, as set forth in the Borrower’s
Quarterly Report on Form 10-Q or Annual Report on Form 10-K (or 10-K-A), as applicable, filed with
the Securities Exchange Commission.

          “Single Employer Plan” means a single employer plan, as defined in Section 4001(a)(15)
of ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate and no Person
other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which
the Borrower or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event
such plan has been or were to be terminated.

          “Solvent” means, with respect to any Person on a particular date, that on such date
(a) the fair value of the property of such Person is greater than the total amount of liabilities,
including, without limitation, contingent liabilities, of such Person, (b) the present fair salable
value of the assets of such Person is not less than the amount that will be required to pay the
probable liability of such Person on its debts as they become absolute and matured, (c) such Person
does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not
engaged in business or a transaction, and is not about to engage in business or a transaction, for
which such Person’s property would constitute an unreasonably small capital. The amount of
contingent liabilities at any time shall be computed as the amount that, in the light of all the
facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability.

          “S&P” means Standard & Poor’s., or any successor thereto.

          “Stockholders Agreement” means that certain Stockholders Agreement, dated as of June
22, 2005, among the Borrower and the stockholders of the Borrower party thereto, as amended,
restated, supplemented or otherwise modified from time to time.

          “Subsidiary” of any Person means any corporation, partnership, joint venture, limited
liability company, trust or estate of which (or in which) more than 50% of (a) the issued and
outstanding capital stock having ordinary voting power to elect a majority of the Board of

17

 

Directors of such corporation (irrespective of whether at the time capital stock of any other
class or classes of such corporation shall or might have voting power upon the occurrence of any
contingency), (b) the interest in the capital or profits of such partnership, joint venture or
limited liability company or (c) the beneficial interest in such trust or estate is at the time
directly or indirectly owned or controlled by such Person, by such Person and one or more of its
other Subsidiaries or by one or more of such Person’s other Subsidiaries; provided that
solely for purposes of Section 3.01(a), “Subsidiaries” referred to therein shall not
include any Subsidiary that is specified on Schedule 3.01(b) as a Subsidiary that is in the process
of being liquidated or dissolved as of the Effective Date.

          “Surviving Debt” means Debt of any Subsidiary of the Borrower, other than Ordinary
Course Operating Debt, and Debt of the type permitted under Section 5.02(b)(x), outstanding on the
Effective Date.

          “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall
be its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means each of JPMorgan Chase Bank, N.A. and Bank of America, N.A.,
in its capacity as lender of Swingline Loans hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Syndication Agent” has the meaning assigned to such term in the preamble to this
Agreement.

          “Taxes” means any present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

          “Transactions” means the execution, delivery and performance by the Borrower of this
Agreement, the borrowing of Loans, the use of the proceeds thereof.

          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Eurodollar Rate or the Federal Funds Rate.

          “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code.

          “U.S. Tax Certificate” shall have the meaning set forth in Section 2.17(f)(ii)(D).

          “Voting Interests” means shares of capital stock issued by a corporation, or
equivalent Equity Interests in any other Person, the holders of which are ordinarily, in the
absence of contingencies, entitled to vote for the election of directors (or persons performing
similar functions) of such Person, even if the right so to vote has been suspended by the happening
of such a contingency.

18

 

          “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

          “Withholding Agent” means the Borrower and the Administrative Agent.

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type
(e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving
Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving
Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a
“Eurodollar Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Administrative Agent
that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders
request an amendment to any provision hereof for such purpose), regardless of whether any such
notice is given before or after such change in GAAP or in the application thereof, then such
provision shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith. All terms of an accounting or financial nature shall be
construed, and all computations of amounts and ratios shall be made without giving effect to any
treatment of indebtedness in respect of convertible debt instruments under Financial Accounting
Standards Board Staff Position APB 14-1 to value any such indebtedness in a reduced or bifurcated
manner as described therein, and such indebtedness shall at all times be valued at the full stated
principal amount thereof.

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Notwithstanding any other provision contained herein, all computations of amounts and ratios
referred to in this Agreement shall be made without giving effect to any election under FASB ASC
Topic 825 “Financial Instruments” (or any other financial accounting standard having a similar
result or effect) to value any Debt or other liabilities of the Borrower or any Subsidiary at “fair
value” as defined therein.

          SECTION 1.05. Pro Forma Calculations. All pro forma computations required to be made
hereunder giving effect to any acquisition, investment, sale, disposition, merger or similar event
shall reflect on a pro forma basis such event and, to the extent applicable, the historical
earnings and cash flows associated with the assets acquired or disposed of and any related
incurrence or reduction of Debt, but shall not take into account any projected synergies or similar
benefits expected to be realized as a result of such event.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, each
Lender agrees to make Revolving Loans to the Borrower from time to time during the Availability
Period in an aggregate principal amount that will not result in (a) such Lender’s Revolving Credit
Exposure exceeding such Lender’s Commitment or (b) the sum of the total Revolving Credit Exposures
exceeding the total Commitments. Within the foregoing limits and subject to the terms and
conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans.

          SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of
a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their
respective Commitments. The failure of any Lender to make any Loan required to be made by it shall
not relieve any other Lender of its obligations hereunder; provided that the Commitments of
the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make
Loans as required.

          (b) Subject to Section 2.14, (i) each Revolving Borrowing shall be comprised entirely of
Federal Funds Rate Loans or Eurodollar Loans as the Borrower may request in accordance herewith.
Each Swingline Loan shall be a Federal Funds Rate Loan. Each Lender at its option may make any
Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such
Loan; provided that any exercise of such option shall not affect the obligation of the
Borrower to repay such Loan in accordance with the terms of this Agreement.

          (c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing, such
Borrowing shall be in an aggregate amount equal to $5,000,000 or a whole multiple of $1,000,000 in
excess thereof. At the time that each Federal Funds Rate Borrowing is made, such Borrowing shall
be in an aggregate amount that is an integral multiple of $1,000,000; provided that a
Federal Funds Rate Borrowing may be in an aggregate

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amount that is equal to the entire unused balance of the total Commitments. Each Swingline
Loan shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof.
Loans of more than one Type and Class may be outstanding at the same time; provided that
there shall not at any time be more than a total of five Eurodollar Revolving Borrowings
outstanding.

          (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request, or to elect to convert or continue, any Borrowing if the Interest Period requested
with respect thereto would end after the Maturity Date.

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing,
the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of
a Eurodollar Borrowing, not later than 3:00 p.m., New York City time, three (3) Business Days
before the date of the proposed Borrowing or (b) in the case of a Federal Funds Rate Borrowing, not
later than 3:00 p.m., New York City time, on the date of the proposed Borrowing. Each such
telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery
or electronic communication in PDF format to 12012443660@tls.ldsprod.com) or facsimile to the
Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent
and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the
following information in compliance with Section 2.02: (i) the amount and Type of Revolving Loans
to be borrowed, (ii) the date of such Borrowing, which shall be a Business Day, (iii) in the case
of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of
the initial Interest Period therefor and (iv) the location and number of the Borrower’s account to
which funds are to be disbursed, which shall comply with the requirements of Section 2.07. Any
Revolving Loans made on the Effective Date shall initially be Federal Funds Rate Loans.

If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving
Borrowing shall be a Federal Funds Rate Borrowing. If no Interest Period is specified with respect
to any requested Eurodollar Revolving Borrowing, then the Borrower shall be deemed to have selected
an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in
accordance with this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

          SECTION 2.04. [Reserved].

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lenders severally agree to make Swingline Loans to the Borrower from time to
time during the Availability Period, in an aggregate principal amount at any time outstanding that
will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding
$180,000,000 or (ii) the sum of the total Revolving Credit Exposures exceeding the total
Commitments; provided that the Swingline Lenders shall not be required to make a Swingline
Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline
Loans.

21

 

          (b) To request Swingline Loans, the Borrower shall notify the Administrative Agent of such
request by telephone (confirmed by electronic communication in PDF format to
12012443660@tls.ldsprod.com or facsimile), not later than 4:00 p.m., New York City time, on the
day of the proposed Swingline Loans. Each such notice shall be irrevocable and shall specify the
requested date (which shall be a Business Day) and amount of the requested Swingline Loans. The
Administrative Agent will promptly advise each Swingline Lender of any such notice received from
the Borrower. Each Swingline Lender shall make its portion of the requested Swingline Loans
(which portion shall be equal to 50% of the aggregate Swingline Loans requested on such date)
available to the Borrower by means of a credit to the general deposit account of the Borrower with
such Swingline Lender (or such other account as designated by the Borrower) by 5:00 p.m., New York
City time, on the requested date of such Swingline Loan.

          (c) Each Swingline Lender may by written notice given to the Administrative Agent not later
than 10:00 a.m., New York City time, on any Business Day require the Lenders to acquire
participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such
notice shall specify the aggregate amount of Swingline Loans in which Lenders will participate.
Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each
Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or
Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as
provided above, to pay to the Administrative Agent, for the account of the Swingline Lenders, such
Lender’s Applicable Percentage of such Swingline Loans. Each Lender acknowledges and agrees that
its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute
and unconditional and shall not be affected by any circumstance whatsoever, including the
occurrence and continuance of a Default or reduction or termination of the Commitments, and that
each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Lender shall comply with its obligation under this paragraph by wire transfer of
immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans
made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the
payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the
Swingline Lenders, ratably as between them, the amounts so received by it from the Lenders. The
Administrative Agent shall notify the Borrower of any participations in any Swingline Loans
acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loans
shall be made to the Administrative Agent and not to the Swingline Lenders. Any amounts received
by the Swingline Lenders from the Borrower (or other party on behalf of the Borrower) in respect
of Swingline Loans after receipt by the Swingline Lenders of the proceeds of a sale of
participations therein shall be promptly remitted to the Administrative Agent; any such amounts
received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the
Lenders that shall have made their payments pursuant to this paragraph and to the Swingline
Lenders, as their interests may appear; provided that any such payment so remitted shall
be repaid to the Swingline Lenders or to the Administrative Agent, as applicable, if and to the
extent such payment is required to be refunded to the Borrower for any reason. The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of
any default in the payment thereof.

          SECTION 2.06. [Reserved].

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          SECTION 2.07. Funding of Loans. (a) Each Lender shall make each Loan to be made by
it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00
noon, New York City time, or, if later in the case of a Federal Funds Rate Borrowing, 60 minutes
after the Administrative Agent advises such Lender pursuant to the last sentence of Section 2.03,
of the details of a Borrowing Request made by the Borrower to the account of the Administrative
Agent most recently designated by it for such purpose by notice to the Lenders; provided
that Swingline Loans shall be made as provided in Section 2.05. The Administrative Agent will make
such Loans available to the Borrower by promptly crediting the amounts so received, in like funds,
to an account of the Borrower maintained with the Administrative Agent in New York City or such
other account of the Borrower designated by the Borrower in the applicable Borrowing Request.

          (b) Unless the Administrative Agent shall have received notice from a Lender not later than
one (1) Business Day prior to the proposed date of any Borrowing that such Lender will not make
available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such share available on such date in accordance with
paragraph (a) of this Section and may, in reliance upon such assumption, make available to the
Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Borrowing available to the Administrative Agent, then the applicable Lender and the
Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding
amount with interest thereon, for each day from and including the date such amount is made
available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i)
in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation or
(ii) in the case of the Borrower, the interest rate applicable to Federal Funds Rate Loans. If
such Lender pays such amount to the Administrative Agent, then such amount shall constitute such
Lender’s Loan included in such Borrowing.

          SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of
the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Revolving
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request.
Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue
such Borrowing and, in the case of a Eurodollar Revolving Borrowing, may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect to
different portions of the affected Borrowing, in which case each such portion shall be allocated
ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing. This Section shall not apply to
Swingline Borrowings, which may not be converted or continued.

          (b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone by the time that a Borrowing Request would be
required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type
resulting from such election to be made on the effective date of such election. Each such
telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand
delivery or electronic communication or facsimile to the Administrative

23

 

Agent of a written Interest Election Request in a form approved by the Administrative Agent
and signed by the Borrower.

          (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be a Federal Funds Rate Borrowing or a
Eurodollar Borrowing; and

     (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.

          (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of each resulting
Borrowing.

          (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurodollar Revolving Borrowing prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to a Federal Funds Rate Borrowing. Notwithstanding any contrary
provision hereof, if an Event of Default has occurred and is continuing and the Administrative
Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event
of Default is continuing (i) no outstanding Revolving Borrowing may be converted to or continued
as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Revolving Borrowing shall be
converted to a Federal Funds Rate Borrowing at the end of the Interest Period applicable thereto.

          SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously
terminated, the Commitments shall terminate on the Maturity Date.

          (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount equal to
$1,000,000, or a whole multiple thereof and (ii) the Borrower shall not terminate or reduce the
Commitments if, after giving effect to any concurrent prepayment of the Loans in

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accordance with Section 2.11, the sum of the Revolving Credit Exposures would exceed the
total Commitments.

          (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce
the Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section
shall be irrevocable; provided that a notice of termination of the Commitments delivered
by the Borrower may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of
the Commitments shall be made ratably among the Lenders in accordance with their respective
Commitments.

          SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby
unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the
then unpaid principal amount of the Revolving Loans on the Maturity Date and (ii) to the Swingline
Lenders the then unpaid principal amount of the Swingline Loans on the earlier of the Maturity Date
and the first date after any Swingline Loans are made that is the 15th or last day of a calendar
month and is at least two (2) Business Days after such Swingline Loans are made; provided
that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans
then outstanding.

          (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such
Lender, including the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.

          (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable
thereto, (ii) the amount of any principal or interest due and payable or to become due and payable
from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

          (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the
obligations recorded therein; provided that the failure of any Lender or the
Administrative Agent to maintain such accounts or any error therein shall not in any manner affect
the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.

          (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to
the order of such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent.

25

 

Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all
times (including after assignment pursuant to Section 9.04) be represented by one or more
promissory notes in such form payable to the order of the payee named therein (or, if such
promissory note is a registered note, to such payee and its registered assigns).

          SECTION 2.11. Prepayment of Loans. (a) The Borrower shall have the right at any time
and from time to time up to 3:00 p.m., New York City time on any Business Day to prepay any Loan in
whole or in part, subject to prior notice in accordance with paragraph (b) of this Section;
provided that interest will accrue on such amount being prepaid until the next business day
if such payment is received after 3:00 p.m., New York City time.

          (b) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a
Swingline Loan, the Swingline Lenders) by telephone (confirmed by electronic communication or
facsimile) of any prepayment hereunder not later than 12:00 p.m., New York City time, on the date
of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and
the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if
a notice of prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such
notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of
any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the
Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in
an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same
Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied
ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by
accrued interest to the extent required by Section 2.13.

          SECTION 2.12. Fees. (a) The Borrower agrees to pay to the Administrative Agent for
the account of each Lender a commitment fee, which shall accrue at the Applicable Rate on the daily
amount of the unused Commitment of such Lender during the period from and including the Effective
Date to but excluding the date on which such Commitment terminates. Accrued commitment fees shall
be payable in arrears on the last day of March, June, September and December of each year and on
the date on which the Commitments terminate, commencing on the first such date to occur after the
date hereof; provided that any commitment fees accruing after the date on which the
Commitments terminate shall be payable on demand. All commitment fees shall be computed on the
basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).

          (b) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Borrower and the Administrative
Agent.

          (c) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent for distribution, in the case of commitment fees, to the
Lenders. Fees paid shall not be refundable under any circumstances.

26

 

          SECTION 2.13. Interest. (a) The Loans comprising each Federal Funds Rate Borrowing
(including each Swingline Loan) shall bear interest at the Federal Funds Rate plus the Applicable
Rate.

          (b) The Loans comprising each Eurodollar Borrowing shall bear interest (i) in the case of a
Eurodollar Revolving Loan, at the Eurodollar Rate for the Interest Period in effect for such
Borrowing plus the Applicable Rate.

          (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity,
upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus
the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this
Section or (ii) in the case of any other amount, 2% plus the rate applicable to Federal Funds Rate
Loans as provided in paragraph (a) of this Section.

          (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan and, in the case of Revolving Loans, upon termination of the Commitments;
provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be
payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a
prepayment of a Federal Funds Rate Revolving Loan prior to the end of the Availability Period),
accrued interest on the principal amount repaid or prepaid shall be payable on the date of such
repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to
the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on
the effective date of such conversion.

          (e) All interest hereunder shall be computed on the basis of a year of 360 days and shall be
payable for the actual number of days elapsed (including the first day but excluding the last
day). The applicable Federal Funds Rate or Eurodollar Rate shall be determined by the
Administrative Agent, and such determination shall be conclusive absent manifest error.

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurodollar Borrowing:

          (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the Eurodollar
Rate or the Eurodollar Rate, as applicable, for such Interest Period; or

          (b) the Administrative Agent is advised by the Required Lenders that the Eurodollar Rate for
such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender)
of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest
Period;

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or electronic communication or facsimile as promptly as practicable thereafter and,
until the Administrative Agent notifies the Borrower and the Lenders that the circumstances

27

 

giving rise to such notice no longer exist, (i) any Interest Election Request that requests the
conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a
Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar
Revolving Borrowing, such Borrowing shall be made as a Federal Funds Rate Borrowing;
provided that if the circumstances giving rise to such notice affect only one Type of
Borrowings, then the other Type of Borrowings shall be permitted.

          SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

     (i) subject any Lender to any Taxes (other than (A) Indemnified Taxes and (B) Other
Connection Taxes on gross or net income, profits or revenue (including value-added or
similar Taxes)) on its loans, loan principal, letters of credit, commitments, or other
obligations, or its deposits, reserves, other liabilities or capital attributable thereto;

     (ii) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by,
any Lender (except any such reserve requirement reflected in the Eurodollar Rate); or

     (iii) impose on any Lender or the London interbank market any other condition affecting
this Agreement or Eurodollar Loans made by such Lender or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) , or in
the case of (i) above, any Loan, or to reduce the amount of any sum received or receivable by such
Lender hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such
Lender, as the case may be, such additional amount or amounts as will compensate such Lender, as
the case may be, for such additional costs incurred or reduction suffered.

          (b) If any Lender determines that any Change in Law regarding capital requirements has or
would have the effect of reducing the rate of return on such Lender’s capital or on the capital of
such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by
such Lender to a level below that which such Lender or such Lender’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s policies and the
policies of such Lender’s holding company with respect to capital adequacy), then from time to
time the Borrower will pay to such Lender such additional amount or amounts as will compensate
such Lender or such Lender’s holding company for any such reduction suffered.

          (c) A certificate of a Lender setting forth the amount or amounts necessary to compensate
such Lender or its holding company as specified in paragraph (a) or (b) of this Section shall be
delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

          (d) Failure or delay on the part of any Lender to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s right to demand such compensation;
provided that the Borrower shall not be required to compensate a Lender

28

 

pursuant to this Section for any increased costs or reductions incurred more than 180 days
prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s intention to claim compensation therefor;
provided further that, if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the 180-day period referred to above shall be extended to include
the period of retroactive effect thereof.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any
principal of any Eurodollar Loan other than on the last day of an Interest Period applicable
thereto (including as a result of an Event of Default or as a result of any prepayment pursuant to
Section 2.11), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest
Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar
Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such
notice may be revoked under Section 2.11(b) and is revoked in accordance therewith) or (d) the
assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable
thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event,
the Borrower shall compensate each Lender for the loss, cost and expense attributable to such
event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed
to include an amount determined by such Lender to be the excess, if any, of (i) the amount of
interest which would have accrued on the principal amount of such Loan had such event not occurred,
at the Eurodollar Rate that would have been applicable to such Loan, for the period from the date
of such event to the last day of the then current Interest Period therefor (or, in the case of a
failure to borrow, convert or continue, for the period that would have been the Interest Period for
such Loan), over (ii) the amount of interest which would accrue on such principal amount for such
period at the interest rate which such Lender would bid were it to bid, at the commencement of such
period, for dollar deposits of a comparable amount and period from other banks in the eurodollar
market. A certificate of any Lender setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be
conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 days after receipt thereof.

          SECTION 2.17. Taxes. (a) Each payment by the Borrower under any Credit Document
shall be made without withholding for any Taxes, unless such withholding is required by any law.
If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so
required to withhold Taxes, then such Withholding Agent may so withhold and shall timely pay the
full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable
law. If such Taxes are Indemnified Taxes, then the amount payable by the Borrower shall be
increased as necessary so that, net of such withholding (including such withholding applicable to
additional amounts payable under this Section), the applicable Recipient receives the amount it
would have received had no such withholding been made.

          (b) The Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in
accordance with applicable law.

          (c) As soon as practicable after any payment of Indemnified Taxes by the Borrower to a
Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a
certified copy of a receipt issued by such Governmental Authority evidencing

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such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent.

          (d) The Borrower shall jointly and severally indemnify each Recipient for any Indemnified
Taxes that are paid or payable by such Recipient in connection with any Credit Document (including
amounts paid or payable under this Section 2.17(d)) and any reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed
or asserted by the relevant Governmental Authority. The indemnity under this Section 2.17(d)
shall be paid within twenty (20) days after the Recipient delivers to the Borrower a certificate
stating the amount of any Indemnified Taxes so paid or payable by such Recipient and describing
the basis for the indemnification claim. Such certificate shall be conclusive of the amount so
paid or payable absent manifest error. Such Recipient shall deliver a copy of such certificate to
the Administrative Agent.

          (e) Each Lender shall severally indemnify the Administrative Agent for any Taxes (but, in the
case of any Indemnified Taxes, only to the extent that the Borrower has not already indemnified
the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the
Borrower to do so) attributable to such Lender that are paid or payable by the Administrative
Agent in connection with any Credit Document and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority. The indemnity under this Section 2.17(e) shall be paid within
twenty (20) days after the Administrative Agent delivers to the applicable Lender a certificate
stating the amount of Taxes so paid or payable by the Administrative Agent. Such certificate
shall be conclusive of the amount so paid or payable absent manifest error.

          (f) (i) Any Lender that is entitled to an exemption from, or reduction of, any applicable
withholding Tax with respect to any payments under any Credit Document shall deliver to the
Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower
or the Administrative Agent, such properly completed and executed documentation reasonably
requested by the Borrower or the Administrative Agent as will permit such payments to be made
without, or at a reduced rate of, withholding. In addition, any Lender, if requested by the
Borrower or the Administrative Agent, shall deliver such other documentation prescribed by law or
reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent to determine whether or not such Lender is subject to any withholding
(including backup withholding) or information reporting requirements. Notwithstanding anything to
the contrary in the preceding two sentences, the completion, execution and submission of such
documentation (other than such documentation set forth in Sections 2.17(f)(ii)(A) through (E) and
Section 2.17(f)(iii) below) shall not be required if in the Lender’s reasonable judgment such
completion, execution or submission would subject such Lender to any material unreimbursed cost or
expense (or, in the case of a Change in Law, any incremental material unreimbursed cost or
expense) or would materially prejudice the legal or commercial position of such Lender. Upon the
reasonable request of such Borrower or the Administrative Agent, any Lender shall update any form
or certification previously delivered pursuant to this Section 2.17(f). If any form or
certification previously delivered pursuant to this Section expires or becomes obsolete or
inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event
within 10 days

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after such expiration, obsolescence or inaccuracy) notify such Borrower and the
Administrative Agent in writing of such expiration, obsolescence or inaccuracy and update the form
or certification if it is legally eligible to do so.

     (ii) Without limiting the generality of the foregoing, any Lender with respect to such
Borrower shall, if it is legally eligible to do so, deliver to such Borrower and the
Administrative Agent (in such number of copies reasonably requested by such Borrower and the
Administrative Agent) on or prior to the date on which such Lender becomes a party hereto,
duly completed and executed copies of whichever of the following is applicable:

     (A) in the case of a Lender that is a U.S. Person, IRS Form W-9 certifying that
such Lender is exempt from U.S. Federal backup withholding tax;

     (B) in the case of a Non-U.S. Lender claiming the benefits of an income tax
treaty to which the United States is a party (1) with respect to payments of
interest under any Credit Document, IRS Form W-8BEN establishing an exemption from,
or reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of
such tax treaty and (2) with respect to any other applicable payments under any
Credit Document, IRS Form W-8BEN establishing an exemption from, or reduction of,
U.S. Federal withholding Tax pursuant to the “business profits” or “other income”
article of such tax treaty;

     (C) in the case of a Non-U.S. Lender for whom payments under any Credit
Document constitute income that is effectively connected with such Lender’s conduct
of a trade or business in the United States, IRS Form W-8ECI;

     (D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code both (1) IRS Form W-8BEN and (2)
a certificate substantially in the form of Exhibit C (a “U.S. Tax
Certificate”) to the effect that such Lender is not (a) a “bank” within the
meaning of Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of the
Borrower within the meaning of Section 881(c)(3)(B) of the Code (c) a “controlled
foreign corporation” described in Section 881(c)(3)(C) of the Code and (d)
conducting a trade or business in the United States with which the relevant interest
payments are effectively connected;

     (E) in the case of a Non-U.S. Lender that is not the beneficial owner of
payments made under any Credit Document (including a partnership or a participating
Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms
prescribed in clauses (A), (B), (C), (D) and (F) of this paragraph (f)(ii) that
would be required of each such beneficial owner or partner of such partnership if
such beneficial owner or partner were a Lender; provided, however,
that if the Lender is a partnership and one or more of its partners are claiming the
exemption for portfolio interest under Section 881(c) of the Code, such Lender may
provide a U.S. Tax Certificate on behalf of such partners; or

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     (F) any other form prescribed by law as a basis for claiming exemption from, or
a reduction of, U.S. Federal withholding Tax together with such supplementary
documentation necessary to enable the Borrower or the Administrative Agent to
determine the amount of Tax (if any) required by law to be withheld.

     (iii) If a payment made to a Lender under any Credit Document would be subject to U.S.
Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Withholding Agent, at
the time or times prescribed by law and at such time or times reasonably requested by the
Withholding Agent, such documentation prescribed by applicable law (including as prescribed
by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent to comply
with its obligations under FATCA, to determine that such Lender has or has not complied with
such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from
such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement.

          (g) If any Lender determines, in its sole discretion exercised in good faith, that it has
received a refund in respect of any Indemnified Taxes or Other Taxes as to which indemnification or
additional amounts have been paid to it by the Borrower pursuant to this Section 2.17, it shall
remit such refund (but only to the extent of indemnity payments made, or additional amounts paid,
by the Borrower under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving
rise to such refund plus any interest included in such refund (plus any penalties, interest or
other charges imposed by the relevant Governmental Authority) by the relevant Governmental
Authority attributable thereto) to the Borrower, net of all out-of-pocket expenses of such Lender
and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund); provided that the Borrower, upon the request of such Lender agrees
promptly to return such refund to such party in the event such party is required to repay such
refund to the relevant Governmental Authority. Nothing herein contained shall interfere with the
right of a Lender to arrange its tax affairs in whatever manner it thinks fit nor oblige any Lender
to claim any tax refund or to make available its tax returns or disclose any information relating
to its tax affairs or any computations in respect thereof or any other confidential information or
require any Lender to do anything that would prejudice its ability to benefit from any other
refunds, credits, reliefs, remissions or repayments to which it may be entitled. Notwithstanding
anything to the contrary in this Section 2.17(g), in no event will any Lender be required to pay
any amount to any indemnifying party pursuant to this Section 2.17(g) if such payment would place
such Lender in a less favorable position (on a net after-Tax basis) than such Lender would have
been in if the indemnification payments or additional amounts giving rise to such refund had never
been paid.

          SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The
Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to
12:00 noon, New York City time, on the date when due, in immediately available funds,

32

 

without set off or counterclaim. Any amounts received after such time on any date may, in the
discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the
Administrative Agent at its offices at 270 Park Avenue, New York, New York, except payments to be
made directly to the Swingline Lenders as expressly provided herein and except that payments
pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by it for the
account of any other Person to the appropriate recipient promptly following receipt thereof. If
any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall
be extended to the next succeeding Business Day, and, in the case of any payment accruing interest,
interest thereon shall be payable for the period of such extension. All payments hereunder shall
be made in dollars.

          (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds
shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among
the parties entitled thereto in accordance with the amounts of interest and fees then due to such
parties, and (ii) second, towards payment of principal then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of principal then due to such parties.

          (c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Revolving Loans or
Swingline Loans resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Revolving Loans and Swingline Loans and accrued interest thereon than the
proportion received by any other Lender, then the Lender receiving such greater proportion shall
purchase (for cash at face value) participations in the Revolving Loans and Swingline Loans of
other Lenders to the extent necessary so that the benefit of all such payments shall be shared by
the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest
on their respective Revolving Loans and Swingline Loans; provided that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price restored to the extent
of such recovery, without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to any payment made by the Borrower pursuant to and in accordance with the
express terms of this Agreement or any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans to any assignee or participant, other
than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this
paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may
effectively do so under applicable law, that any Lender acquiring a participation pursuant to the
foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with
respect to such participation as fully as if such Lender were a direct creditor of the Borrower in
the amount of such participation.

          (d) Unless the Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of the Lenders
hereunder that the Borrower will not make such payment, the Administrative Agent may assume that
the Borrower has made such payment on such date in

33

 

accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the
amount due. In such event, if the Borrower has not in fact made such payment, then each of the
Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender with interest thereon, for each day from and including the date such
amount is distributed to it to but excluding the date of payment to the Administrative Agent, at
the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation.

          (e) If any Lender shall fail to make any Loan or payment required to be made by it pursuant
to Section 2.02, 2.05(c), 2.07(b), 2.18(d) or 9.03(c), then the Administrative Agent may, in its
discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter
received by the Administrative Agent for the account of such Lender to satisfy such Lender’s
obligations to it under such Section until all such unsatisfied obligations are fully paid, and/or
(ii) hold any such amounts in a segregated account as cash collateral for, and application to, any
future funding obligations of such Lender under any such Section, in the case of each of clauses
(i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office
for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to
another of its offices, branches or affiliates, if, in the judgment of such Lender, such
designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or
2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment.

          (b) If (x) any Lender requests compensation under Section 2.15, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 2.17, (y) in connection with any proposed amendment, waiver or
consent to this Agreement or any other Credit Document requiring the consent of “each Lender” or
“each Lender directly affected thereby,” the consent of the Required Lenders is obtained, but the
consent of other necessary Lenders is not obtained (any such Lender whose consent is necessary but
not obtained being referred to herein as a “Non-Consenting Lender”) or (z) any Lender
becomes a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to
such Lender or Non-Consenting Lender, as applicable, and the Administrative Agent, require such
Lender or such Non-Consenting Lender, as applicable, to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in Section 9.04), all its interests,
rights and obligations under this Agreement to an assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment); provided that
(i) the Borrower shall have received the prior written consent of the Administrative Agent, which
consent shall not unreasonably be withheld, (ii) such Lender or such Non-Consenting Lender, as
applicable, shall have received payment of an amount equal to the outstanding principal of its
Loans and

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participations in Swingline Loans, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal
and accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the
case of any such assignment resulting from a claim for compensation under Section 2.15 or payments
required to be made pursuant to Section 2.17, such assignment will result in a reduction in such
compensation or payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply.

          SECTION 2.20. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

          (a) fees shall cease to accrue on the unused Commitment of such Defaulting Lender pursuant to
Section 2.12(a);

          (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether the Required Lenders have taken or may take any action hereunder
(including any consent to any amendment, waiver or other modification pursuant to Section 9.02);
provided, that this clause (b) shall not apply to the vote of a Defaulting Lender in the
case of an amendment, waiver or other modification requiring the consent of such Lender or each
Lender affected thereby;

          (c) if any Swingline Exposure exists at the time such Lender becomes a Defaulting Lender
then:

     (i) all or any part of the Swingline Exposure of such Defaulting Lender shall be
reallocated among the non-Defaulting Lenders in accordance with their respective Commitments
but only to the extent that (x) the sum of all non-Defaulting Lenders’ Revolving Credit
Exposures plus such Defaulting Lender’s Swingline Exposure does not exceed the total of all
non-Defaulting Lenders’ Commitments and (y) the conditions set forth in Sections 4.01 and
4.02 are satisfied at such time; and

     (ii) if the reallocation described in clause (i) above cannot, or can only partially,
be effected, the Borrower shall within one (1) Business Day following notice by the
Administrative Agent prepay such Swingline Exposure; and

          (d) so long as such Lender is a Defaulting Lender, no Swingline Lender shall be required to
fund any Swingline Loan, unless it is satisfied that the related exposure will be 100% covered by
the Commitments of the non-Defaulting Lenders and participating interests in any newly made
Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section
2.20(c)(i) (and such Defaulting Lender shall not participate therein).

          In the event that the Administrative Agent, the Borrower and the Swingline Lenders each agree
that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a
Defaulting Lender, then the Swingline Exposure of the Lenders shall be

35

 

readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender
shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the
Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans
in accordance with its Applicable Percentage.

ARTICLE III

Representations and Warranties

          SECTION 3.01. Representations and Warranties of the Borrower. The Borrower represents
and warrants as follows:

          (a) The Borrower and each of its Subsidiaries (i) is a corporation, limited liability company
or limited partnership duly organized, validly existing and (to the extent applicable in the
jurisdiction of its formation) in good standing under the laws of the jurisdiction of its
formation, (ii) except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect, is duly qualified and in good standing
as a foreign corporation or company in each other jurisdiction in which it owns or leases property
or in which the conduct of its business requires it to so qualify or be licensed and (iii) has all
requisite corporate, limited liability company or partnership (as applicable) power and authority
(including, without limitation, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect, all Governmental
Authorizations) to own or lease and operate its properties and to carry on its business as now
conducted.

          (b) Set forth on Schedule 3.01(b) hereto is a complete and accurate list of all Subsidiaries
of the Borrower as of the date hereof, showing as of the date hereof (as to each such Subsidiary)
the jurisdiction of its formation, the number of shares, membership interests or partnership
interests (as applicable) of each class of its Equity Interests authorized, and the number
outstanding, on the date hereof and the percentage of each such class of its Equity Interests
owned (directly or indirectly) by the Borrower and the number of shares covered by all outstanding
options, warrants, rights of conversion or purchase and similar rights at the date hereof. All of
the outstanding Equity Interests in the Borrower’s Subsidiaries have been validly issued, are
fully paid and non-assessable and are owned by the Bororwer or one or more of its Subsidiaries
free and clear of all Liens, except Permitted Encumbrances.

          (c) The execution, delivery and performance by the Borrower of each Credit Document to which
it is or is to be a party, and the consummation of the financing transactions evidenced by each
Credit Document to which it is a party, are within the Borrower’s corporate, limited liability
company or limited partnership (as applicable) powers, have been duly authorized by all necessary
corporate, limited liability company or limited partnership (as applicable) action, and do not (i)
contravene the Borrower’s charter, bylaws, limited liability company agreement, partnership
agreement or other constituent documents, (ii) violate any law, rule, regulation (including,
without limitation, Regulation X of the Board of Governors of the Federal Reserve System), order,
writ, judgment, injunction, decree, determination or award, (iii) conflict with or result in the
breach of, or constitute a default or require any payment to be made under, any loan agreement,
indenture, mortgage, deed of trust, material lease or other

36

 

material contract or instrument binding on or affecting the Borrower, any of its Subsidiaries
or any of their properties or (iv) result in or require the creation or imposition of any Lien
upon or with respect to any of the properties of the Borrower or any of its Subsidiaries.

          (d) No Governmental Authorization, and no notice to or filing with, any Governmental
Authority or any other third party is required for (i) the due execution, delivery, recordation,
filing or performance by the Borrower of any Credit Document to which it is or is to be a party,
or for the consummation of the financing transactions described herein or (ii) the exercise by the
Administrative Agent or any Lender of its rights under the Credit Documents, except with respect
to the exercise of any remedies with respect to, or any other transfer of, the Equity Interests of
any Broker-Dealer Subsidiary, giving all necessary notices to third parties and obtaining all
necessary Governmental Authorizations in connection with such exercise of remedies or transfer
including, without limitation, to the extent required under the Financial Industry Regulatory
Authority’s NASD Rule 1017 or any similar rule under the Commodities Exchange Act.

          (e) This Agreement has been, and each other Credit Document when delivered hereunder will
have been, duly executed and delivered by the Borrower party thereto. This Agreement is, and each
other Credit Document when delivered hereunder will be, the legal, valid and binding obligation of
the Borrower party thereto, enforceable against the Borrower in accordance with its terms subject
to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law.

          (f) Except as set forth in the financial statements referred to in Section 3.01(h), there is
no action, suit, investigation, litigation or proceeding affecting the Borrower or any of its
Subsidiaries, including any Environmental Action, pending or, to the knowledge of the Borrower,
threatened before any Governmental Authority or arbitrator that (i) could reasonably be expected
to have a Material Adverse Effect or (ii) purports to affect the legality, validity or
enforceability of any Credit Document or the consummation of the financing transactions evidenced
hereby and by the other Credit Documents.

          (g) The audited Consolidated balance sheet of the Borrower and its Subsidiaries as at
September 30, 2010, and the related audited Consolidated statement of income and audited
Consolidated statement of cash flows of the Borrower and its Subsidiaries for the Fiscal Year then
ended, accompanied by an unqualified opinion of Ernst & Young LLP, independent public accountants,
copies of which have been made available to each Lender, fairly present in all material respects
the Consolidated financial condition of the Borrower and its Subsidiaries as at such date and the
Consolidated results of operations of the Borrower and its Subsidiaries for the period ended on
such date, all in accordance with GAAP applied on a consistent basis. The Borrower’s FOCUS-II
Report for the fiscal quarter ended December 30, 2010 is true and complete in all material
respects. The Borrower’s FOCUS-II Report for the fiscal quarter ended March 31, 2011 is true and
complete in all material respects. All such audited financial statements, including the related
schedules and notes thereto, have been prepared in accordance with GAAP applied consistently
throughout the periods involved

37

 

(except as approved by the aforementioned firm of accountants and disclosed therein).
Since September 30, 2010, there has been no Material Adverse Effect.

          (h) [Reserved].

          (i) Neither the Information Memorandum nor any of the other reports, financial statements,
certificates or other written information, other than forward-looking information (including any
projections) and information of a general economic or general industry nature, furnished by or on
behalf of the Borrower to the Administrative Agent or any Lender in connection with the
negotiation of this Agreement or delivered or made available hereunder (as modified or
supplemented by other information so furnished, and all filings of the Borrower or any of its
Subsidies that have been made with the SEC), taken as a whole, when furnished contains any
material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in light of the circumstances under which such statements were made, not materially
misleading.

          (j) No proceeds of any Loan will be used for any purpose that violates, or which is
inconsistent with, the provisions of Regulation T, U or X of the Board of Governors of the Federal
Reserve System of the United States, as in effect from time to time.

          (k) The Borrower is not, nor is it required to be, registered as an “investment company”
under the Investment Company Act of 1940, as amended. Neither the making of any Loans, nor the
application of the proceeds or repayment thereof by the Borrower, nor the consummation of the
other transactions contemplated by the Credit Documents, will violate any provision of any such
Act or any rule, regulation or order of the SEC thereunder.

          (l) As of the Effective Date, the Borrower and its Subsidiaries are, taken as a whole,
Solvent.

          (m) (i) No ERISA Event has occurred or is reasonably expected to occur with respect to any
Plan which could reasonably be expected to result in a Material Adverse Effect.

     (ii) Schedule B (Actuarial Information) to the most recent annual report (Form
5500 Series) for each Single Employer Plan, copies of which have been filed with the
Internal Revenue Service and will be made available to the Lenders upon a written
request to the Borrower, is complete and accurate in all material respects and
fairly presents the funding status of such Single Employer Plan.

     (iii) Neither the Borrower nor any ERISA Affiliate has incurred or to the
knowledge of the Borrower or ERISA Affiliate, is reasonably expected to incur any
Withdrawal Liability to any Multiemployer Plan which could reasonably be expected to
result in a Material Adverse Effect.

     (iv) Neither the Borrower nor any ERISA Affiliate has been notified by the
sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization or
has been terminated, within the meaning of Title IV of ERISA,

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and, to the knowledge of the Borrower or ERISA Affiliate, no such Multiemployer
Plan is reasonably expected to be in reorganization or to be terminated, within the
meaning of Title IV of ERISA.

          (n) The operations and properties of the Borrower and each of its Subsidiaries comply in all
material respects with all applicable Environmental Laws and Environmental Permits, and, to the
Borrower’s knowledge, no circumstances exist that could form the basis of an Environmental Action
against the Borrower or any of its Subsidiaries or any of their properties that could reasonably
be expected to have a Material Adverse Effect.

          (o) The Borrower and each of its Subsidiaries and Affiliates has filed, has caused to be
filed or has been included in all Federal and State and other material Tax returns required to be
filed by it and has paid all Taxes due, except (i) Taxes that are being contested in good faith by
appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set
aside on its books adequate reserves or (ii) to the extent that the failure to do so could not
reasonably be expected to result in a Material Adverse Effect.

          (p) The Borrower (i) is a broker and dealer subject to the provisions of Regulation T of the
Board, (ii) maintains procedures and internal controls reasonably designed to ensure compliance
with the provisions of Regulation T, (iii) is a member in good standing of FINRA and (iv) is duly
registered as a broker dealer with the SEC and in each state where the conduct of a material
portion of its business requires such registration.

ARTICLE IV

Conditions

          SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans hereunder
shall not become effective until the date on which each of the following conditions is satisfied
(or waived in accordance with Section 9.02):

          (a) The Administrative Agent (or its counsel) shall have received from each party hereto a
counterpart of this Agreement signed on behalf of such party.

          (b) The Administrative Agent shall have received a favorable written opinion (addressed to
the Administrative Agent and the Lenders and dated the Effective Date) of Sidley Austin LLP,
counsel for the Borrower, and of Kutak Rock LLP, Nebraska counsel for the Borrower, each covering
such matters relating to the Borrower, this Agreement or the Transactions as the Administrative
Agent shall reasonably request. The Borrower hereby requests such counsel to deliver such
opinions.

          (c) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization, existence
and good standing of the Borrower, the authorization of the Transactions and any other legal
matters relating to the Borrower, this Agreement or the Transactions, all in form and substance
reasonably satisfactory to the Administrative Agent and its counsel.

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          (d) The Administrative Agent shall have received a certificate, dated the Effective Date and
signed by the President, a Vice President or a Financial Officer of the Borrower, confirming
compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02.

          (e) The Lenders, Administrative Agent and the Lead Arrangers shall have received all fees and
other amounts due and payable on or prior to the Effective Date, including, to the extent invoiced
not less than two (2) Business Days prior to the Effective Date, reimbursement or payment of all
out of pocket expenses required to be reimbursed or paid by the Borrower hereunder.

          (f) The Lenders shall have received Patriot Act and “know your customer” / anti-money
laundering documentation and information reasonably requested by the Lenders in writing at least
two (2) Business Days prior to the Effective Date.

          The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and
such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions
is satisfied (or waived pursuant to Section 9.02) at or prior to 3:00 p.m., New York City time, on
June 28, 2011 (and, in the event such conditions are not so satisfied or waived, the Commitments
shall terminate at such time).

          SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Loan is subject to the satisfaction or waiver of the following conditions:

          (a) The representations and warranties of the Borrower set forth in this Agreement or any
other Credit Document shall be true and correct in all material respects on and as of such date
(other than the representations and warranties contained in Section 3.01(f) and in the last
sentence of Section 3.01(g) and those only made as of the Effective Date).

          (b) At the time of and immediately after giving effect to such Loan, no Default or Event of
Default shall have occurred and be continuing.

Each borrowing of Loans (but excluding, for the avoidance of doubt, any conversion or continuation
of Loans) shall be deemed to constitute a representation and warranty by the Borrower on the date
thereof as to the matters specified in paragraphs (a) and (b) of this Section.

ARTICLE V

Covenants of the Borrower

          SECTION 5.01. Affirmative Covenants. So long as any Loan or any other Obligation of
the Borrower under any Credit Document shall remain unpaid or any Lender shall have any Commitment
hereunder, the Borrower will:

          (a) Compliance with Laws, Etc. Comply, and cause each of its Subsidiaries to comply,
in all material respects, with all applicable laws, rules, regulations and orders that

40

 

are material to the conduct of the business of the Borrower and its Subsidiaries taken as a
whole, such compliance to include, without limitation, compliance with Environmental Laws and
ERISA.

          (b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Subsidiaries to
pay and discharge, before the same shall become delinquent, (i) all material Taxes imposed upon it
or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon
its property; provided, however, that neither the Borrower nor any of its Subsidiaries
shall be required to pay or discharge any such Tax or claim that is being contested in good faith
and by proper proceedings and as to which appropriate reserves are being maintained.

          (c) Maintenance of Insurance. Maintain, and cause each of its Subsidiaries to
maintain, insurance in such amounts and covering such risks, and with such deductibles or
self-insurance retentions, as is usually carried by companies engaged in similar businesses and
owning similar properties in the same general areas in which the Borrower or such Subsidiary
operates.

          (d) Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each
of its Subsidiaries to preserve and maintain (i) its legal existence and legal structure and (ii)
to the extent material to the conduct of the business of the Borrower and its Subsidiaries taken
as a whole, its rights (charter and statutory), permits, licenses, approvals, privileges and
franchises except, in the case of its Subsidiaries, to the extent the failure to do so could not
reasonably be expected to have a Material Adverse Effect; provided, however, that the
Borrower and its Subsidiaries may consummate any merger, consolidation, liquidation or dissolution
permitted under Section 5.02(d) or any sale, transfer or other disposition permitted under Section
5.02(e).

          (e) Visitation Rights. At any reasonable time and from time to time, upon reasonable
prior notice, permit the Administrative Agent or any of the Lenders, or any agents or
representatives thereof, to examine and make copies of and abstracts from the records and books of
account of, and visit the properties of, the Borrower and any of its Subsidiaries, and to discuss
the affairs, finances and accounts of the Borrower and any of its Subsidiaries with any of their
officers and with their independent certified public accountants; provided that
representatives of the Borrower shall have the opportunity to be present at any meeting with its
independent accountants; provided further that unless (x) a Default has occurred
and is continuing or (y) the Administrative Agent reasonably believes an event has occurred that
has a Material Adverse Effect, (i) the Lenders shall coordinate the exercise of their visitation
and inspection rights under this Section 5.01(e) through the Administrative Agent and limit the
exercise of such rights to one time per Fiscal Year, and (ii) neither the Borrower nor any of its
Subsidiaries shall be required to pay or reimburse any costs and expenses incurred by any Lender
in connection with the exercise of such rights.

          (f) Keeping of Books. (i) Keep, and cause each of its Subsidiaries to keep, proper
books of record and account, in which true and correct entries shall be made of all material
financial transactions and the assets and business of the Borrower and each such Subsidiary and
(ii) maintain, and cause each of its Subsidiaries to maintain, a system of

41

 

accounting established and maintained in conformity, in all material respects, with generally
accepted accounting principles in effect from time to time.

          (g) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its
Subsidiaries to maintain and preserve, all of its properties that are used or useful in the
conduct of its business in good working order and condition, ordinary wear and tear excepted
except to the extent that the failure to do so could not reasonably be expected to have a Material
Adverse Effect.

          (h) [Reserved].

          (i) Further Assurances. (i) Promptly upon request by the Administrative Agent, or
any Lender through the Administrative Agent, correct, and cause each of its Subsidiaries promptly
to correct, any material defect or error that may be discovered in any Credit Document to which it
is a party or in the execution or acknowledgment thereof, and

          (ii) Promptly upon request by the Administrative Agent, or any Lender through the
Administrative Agent, do, execute, acknowledge, deliver, any and all such further acts and other
instruments as the Administrative Agent, or the Required Lenders through the Administrative Agent,
may reasonably require from time to time in order to carry out more effectively the purposes of the
Credit Documents, and cause each of its Subsidiaries to do so.

          (j) Use of Proceeds. The proceeds of the Loans shall be available (and the Borrower
agrees that it shall use such proceeds) solely to fund working capital needs and for general
corporate purposes of the Borrower.

          SECTION 5.02. Negative Covenants. So long as any Loan or any other Obligation of the
Borrower under any Credit Document shall remain unpaid or any Lender shall have any Commitment
hereunder, the Borrower will not, at any time:

          (a) Liens, Etc. Create, incur, assume or suffer to exist, or permit any of its
Subsidiaries to create, incur, assume or suffer to exist, any Lien on or with respect to any of
its properties of any character (including, without limitation, accounts) whether now owned or
hereafter acquired or, except to the extent otherwise permitted under Section 5.02(e), assign, or
permit any of its Subsidiaries to assign, any accounts or other right to receive income, except:

     (i) Liens created under the Credit Documents;

     (ii) Permitted Encumbrances;

     (iii) Liens created, incurred, assumed or suffered to exist in the ordinary course of
business upon assets owned by the Borrower or any Subsidiary or as to which the Borrower or
any Subsidiary has rights to create Liens thereon or held for its account to secure
liabilities or obligations, actual or contingent, incurred in the ordinary course of
business, including Liens in favor of clearing houses, clearing brokers or other entities
providing clearing services and borrowings collateralized by client assets in the ordinary
course of business; and

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     (iv) Liens securing Debt and other liabilities of the Borrower or any of its
Subsidiaries in an aggregate outstanding amount not to exceed at any time (x) 15% of
shareholders’ equity of the Borrower determined in accordance with GAAP, as shown on the
most recent Consolidated balance sheet of the Borrower and its Subsidiaries delivered
pursuant to Section 5.03(b) or (c), minus (y) the aggregate principal amount of any Debt
(other than Debt secured by such Liens permitted under this clause (iv)) of any such
Subsidiaries then outstanding under Section 5.02(b)(xv);

          (b) Debt. Create, incur, assume or suffer to exist, or permit any of its Subsidiaries
to create, incur, assume or suffer to exist, any Debt, except:

     (i) Debt under the Credit Documents;

     (ii) Surviving Debt and any Debt extending the maturity of, or refunding or
refinancing, in whole or in part, such Debt; provided that the terms of any such
extending, refunding or refinancing Debt, and of any agreement entered into and of any
instrument issued in connection therewith, are otherwise permitted by the Credit Documents;
provided further that the principal amount of any Surviving Debt shall not
be increased above the principal amount thereof outstanding immediately prior to such
extension, refunding or refinancing plus accrued interest thereon and reasonable expenses
and fees incurred in connection therewith, and the Borrower or any Subsidiary shall not be
added as an additional direct or contingent obligor with respect thereto, as a result of or
in connection with such extension, refunding or refinancing; and provided
further that the terms relating to principal amount, amortization, maturity,
collateral (if any) and subordination (if any), and other material terms taken as a whole,
of any such extending, refunding or refinancing Debt, and of any agreement entered into and
of any instrument issued in connection therewith, are no less favorable in any material
respect to the Borrower or the Lenders than the terms of any agreement or instrument
governing any Surviving Debt being extended, refunded or refinanced and the interest rate
applicable to any such extending, refunding or refinancing Debt does not exceed the then
applicable market interest rate;

     (iii) Debt in respect of Hedge Agreements designed to hedge against fluctuations in
interest rates and exchange rates incurred in the ordinary course of business and consistent
with prudent business practice;

     (iv) Debt owed to the Borrower or a wholly owned Subsidiary of the Borrower;

     (v) Debt of any Person that becomes a Subsidiary of the Borrower after the date hereof
not in contravention of this Agreement, which Debt is existing at the time such Person
becomes a Subsidiary of the Borrower (other than Debt incurred solely in contemplation of
such Person becoming a Subsidiary of the Borrower), and any Debt extending the maturity of,
or refunding or refinancing, in whole or in part, any such Debt under this clause (v);
provided that the terms of any such extending, refunding or refinancing
Debt, and of any agreement entered into and of any instrument issued in connection
therewith, are otherwise permitted by the Credit Documents; provided further

43

 

that the principal amount of the Debt being extended, refunded or refinanced shall not
be increased above the principal amount thereof outstanding immediately prior to such
extension, refunding or refinancing plus accrued interest thereon and reasonable expenses
and fees incurred in connection therewith, and the Borrower or any Subsidiary shall not be
added as an additional direct or contingent obligor with respect thereto, as a result of or
in connection with such extension, refunding or refinancing; and provided
further that the terms relating to principal amount, amortization, maturity,
collateral (if any) and subordination (if any), and other material terms taken as a whole,
of any such extending, refunding or refinancing Debt, and of any agreement entered into and
of any instrument issued in connection therewith, are no less favorable in any material
respect to the Borrower or the Lenders than the terms of any agreement or instrument
governing the Debt being extended, refunded or refinanced and the interest rate applicable
to any such extending, refunding or refinancing Debt does not exceed the then applicable
market interest rate;

     (vi) [Reserved];

     (vii) Debt under performance bonds, surety bonds and letter of credit obligations to
provide security for worker’s compensation claims and Debt in respect of bank overdrafts not
more than two days overdue, in each case, incurred in the ordinary course of business;

     (viii) to the extent the same constitutes Debt, obligations in respect of working
capital adjustments and/or earn-out arrangements in connection with any purchase or
acquisition;

     (ix) Ordinary Course Operating Debt;

     (x) to the extent constituting Guaranteed Debt, indemnification obligations and other
similar obligations of the Borrower and its Subsidiaries in favor of directors, officers,
employees, consultants or agents of the Borrower or any of its Subsidiaries extended in the
ordinary course of business;

     (xi) (A) unsecured Guaranteed Debt of any Subsidiary with respect to unsecured payment
Obligations of the Borrower and (B) Guaranteed Debt with respect to payment Obligations of
any Subsidiary; provided, that the underlying obligation related to such Guaranteed
Debt in this clause (B) is permitted under Section 5.02(b)(iii), (vii), (viii), (xiv) or
(xvi);

     (xii) Guaranteed Debt with respect to leases in respect of real property entered into
by any Broker-Dealer Subsidiary in the ordinary course of business;

     (xiii) contingent liabilities arising out of endorsements of checks and other
negotiable instruments for deposit or collection in the ordinary course of business;

     (xiv) Debt owing to insurance companies to finance insurance premiums incurred in the
ordinary course of business; provided that each insurance company financing such
insurance premiums agrees to give the Administrative Agent not less than

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30 days’ prior written notice before termination of any insurance policy for which
premiums are being financed; and

     (xv) other Debt not otherwise permitted under this Section 5.02(b) in an aggregate
outstanding principal amount not to exceed at any time (x) 15% of shareholders’ equity of
the Borrower determined in accordance with GAAP, as shown on the most recent Consolidated
balance sheet of the Borrower and its Subsidiaries delivered pursuant to Section 5.03(b) or
(c), minus (y) the aggregate outstanding principal amount of any Debt (other than Debt
permitted under this clause (xv)) and other liabilities secured by Liens then existing and
permitted under Section 5.02(a)(iv).

          (c) Change in Nature of Business. Engage or permit any of its Subsidiaries to engage
in any material line of business substantially different from those lines of business conducted by
the Borrower and its Subsidiaries on the date hereof or any business substantially related,
incidental or ancillary thereto.

          (d) Mergers, Etc. Merge into or consolidate with any Person or permit any Person to
merge into it, or permit any of its Subsidiaries to do so, except that:

     (i) any Subsidiary of the Borrower may merge into or consolidate with the Borrower or
any other Subsidiary of the Borrower; provided that (A) in the case of any such
merger or consolidation to which the Borrower is a party, the Borrower shall be the
surviving entity and (B) in the case of any such merger or consolidation in which the
Borrower is not a party, the Person formed by such merger or consolidation shall be a wholly
owned Subsidiary of the Borrower;

     (ii) the Borrower or any Subsidiary of the Borrower may merge into or consolidate with
any other Person or permit any other Person to merge into or consolidate with it;
provided that (A) in the case of any such merger or consolidation to which the
Borrower is a party, the Borrower shall be the surviving entity and (B) in the case of any
such merger or consolidation in which the Borrower is not a party, the Person formed by such
merger or consolidation shall be a wholly owned Subsidiary of the Borrower;

     (iii) as part of any sale or other disposition permitted under Section 5.02(e), any
Subsidiary of the Borrower may merge into or consolidate with any other Person or permit any
other Person to merge into or consolidate with it; and

     (iv) any Subsidiary of the Borrower may liquidate or dissolve if the Borrower
determines in good faith that such liquidation or dissolution is in the best interest of the
Borrower and is not materially disadvantageous to the Lenders; provided,
however, that in each case, immediately before and after giving effect thereto, no
Default shall have occurred and be continuing.

          (e) Sales, Etc. of Assets. Sell, lease, transfer or otherwise dispose of, or permit
any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, all or substantially all
of the assets of the Borrower and its Subsidiaries, taken as a whole, or grant any option or other
right to purchase, lease or otherwise acquire, or permit any of its Subsidiaries to grant

45

 

any option or other right to purchase, lease or otherwise acquire, all or substantially all
of the assets of the Borrower and its Subsidiaries, taken as a whole.

          SECTION 5.03. Reporting Requirements. So long as any Loan or any other Obligation of
the Borrower under any Credit Document shall remain unpaid or any Lender shall have any Commitment
hereunder, the Borrower will furnish to the Administrative Agent for prompt distribution to each
Lender electing to receive the same:

          (a) Default Notice. As soon as possible and in any event within two (2) Business Days
after any Financial Officer of the Borrower becomes aware of the occurrence of each Default or any
event, development or occurrence that could reasonably be expected to have a Material Adverse
Effect continuing on the date of such statement, a statement of the Financial Officer of the
Borrower setting forth details of such Default or event, development or occurrence and the action
that the Borrower has taken and proposes to take with respect thereto.

          (b) Annual Financials. As soon as available and in any event within 90 days after the
end of each Fiscal Year, a copy of the annual audit report for such year for the Borrower and its
Subsidiaries, including therein a Consolidated balance sheet of the Borrower and its Subsidiaries
as of the end of such Fiscal Year and a Consolidated statement of income and a Consolidated
statement of cash flows of the Borrower and its Subsidiaries for such Fiscal Year, in each case
accompanied by (i) an opinion as to such audit report of Ernst & Young LLP or other independent
public accountants of nationally recognized standing and (ii) if prepared, a report of such
independent public accountants as to the Borrower’s internal controls required under Section 404
of the Sarbanes-Oxley Act of 2002, in each case certified by such accountants without a “going
concern” or like qualification or exception and without any qualification or exception as to the
scope of such audit, provided that to the extent different components of such consolidated
financial statements are separately audited by different independent public accounting firms, the
audit report of any such accounting firm may contain a qualification or exception as to scope of
such consolidated financial statements; together with (x) a certificate of a Financial Officer of
the Borrower stating that no Default has occurred and is continuing or, if a Default has occurred
and is continuing, a statement as to the nature thereof and the action that the Borrower has taken
and proposes to take with respect thereto and (y) a schedule in substantially the form of Exhibit
B of the computations used by a Financial Officer of the Borrower in determining, as of the end of
such Fiscal Year, compliance with the covenants contained in Section 5.04.

          (c) Quarterly Financials. As soon as available and in any event within 45 days after
the end of each of the first three quarters of each Fiscal Year, a copy of the Borrower’s FOCUS-II
Report for such quarter, which report shall be true and complete in all material respects, and
duly certified by a Financial Officer of the Borrower, together with (i) a certificate of said
officer stating that no Default has occurred and is continuing or, if a Default has occurred and
is continuing, a statement as to the nature thereof and the action that the Borrower has taken and
proposes to take with respect thereto and (ii) a schedule in substantially the form of Exhibit B
of the computations used by the Borrower in determining compliance with the covenants contained in
Section 5.04.

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          (d) [Reserved].

          (e) Litigation. Promptly after the commencement thereof, notice of the commencement
of any action, suit, litigation or proceeding before any Governmental Authority affecting the
Borrower or any of its Subsidiaries, including any Environmental Action, that (i) could reasonably
be expected to have a Material Adverse Effect or (ii) purports to affect the legality, validity or
enforceability of any Credit Document or the consummation of the financing transactions evidenced
hereby and by the other Credit Documents.

          (f) ERISA. (i) ERISA Events and ERISA Reports. Promptly and in any event
within 10 days after (A) the Borrower or any ERISA Affiliate knows or has reason to know that any
ERISA Event has occurred, which could reasonably be expected to result in a Material Adverse
Effect, a statement of a Financial Officer of the Borrower describing such ERISA Event and the
action, if any, that the Borrower or such ERISA Affiliate has taken and proposes to take with
respect thereto and (B) any Lender makes a written request to the Borrower for any records,
documents or other information furnished to the PBGC with respect to any Plan pursuant to Section
4010 of ERISA, a copy of such records, documents and information.

     (ii) Plan Terminations. Promptly and in any event within ten (10) Business Days
after receipt thereof by the Borrower or any ERISA Affiliate, copies of each notice from the
PBGC stating its intention to terminate any Plan or to have a trustee appointed to
administer any Plan under Section 4042 of ERISA.

     (iii) Plan Annual Reports. Promptly and in any event within thirty (30) days
after the written request by any Lender to the Borrower, copies of each Schedule B
(Actuarial Information) to the annual report (Form 5500 Series) filed with the Internal
Revenue Service with respect to each Single Employer Plan.

     (iv) Multiemployer Plan Notices. Promptly and in any event within ten (10)
Business Days after receipt thereof by the Borrower or any ERISA Affiliate from the sponsor
of a Multiemployer Plan, copies of each notice concerning (A) the imposition of Withdrawal
Liability by any such Multiemployer Plan, (B) the reorganization or termination, within the
meaning of Title IV of ERISA, of any such Multiemployer Plan or (C) the amount of liability
incurred, or that may be incurred, by the Borrower or any ERISA Affiliate in connection with
any event described in clause (A) or (B), but only if such liability under (A), (B) or (C)
could reasonably be expected to result in a Material Adverse Effect.

          (g) Ratings. Promptly after Moody’s or S&P shall have announced a change in the
rating established or deemed to have been established for the Index Debt, written notice of such
rating change.

          (h) Publicly Available Information. Promptly after the same become publicly
available, copies of all periodic and other reports, and other materials filed by the Borrower or
any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the
functions of said Commission, or with any national securities exchange, as the case

47

 

may be. Filing of any such report or other material on the SEC’s EDGAR system (or any
successor thereto) or any other publicly available database maintained by the SEC shall be deemed
to satisfy the requirements of this Section 5.03(h).

          (i) Other Information. Such other information respecting the business, financial
condition or results of operations of the Borrower or any of its Subsidiaries as the
Administrative Agent, or any Lender through the Administrative Agent, may from time to time
reasonably request.

          Financial statements required to be delivered pursuant to Section 5.03(b) or (c) (to the extent any
such documents are included in materials otherwise filed with the SEC) or 5.03(h) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which
the Parent or the Borrower files such documents on the SEC’s EDGAR system (or any successor
thereto) or any other publicly available database maintained by the SEC, or provides a link thereto
on the Parent’s website on the Internet, to which each Lender and the Administrative Agent have
access; or (ii) on which such documents are posted on the Borrower’s behalf on
IntraLinks/IntraAgency or another relevant website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial, third-party website or whether sponsored by
the Administrative Agent); provided that upon the written request of the Administrative
Agent or any Lender, the Borrower shall deliver paper copies of such documents to the
Administrative Agent or such Lender, as the case may be. The Administrative Agent shall have no
obligation to request the delivery or to maintain copies of the financial statements referred to
above, and in any event shall have no responsibility to monitor compliance by the Borrower with any
such request for delivery, and each Lender shall be solely responsible for requesting delivery to
it or maintaining its copies of such documents.

          SECTION 5.04. Financial Covenants. So long as any Loan or any other Obligation of the
Borrower under any Credit Document shall remain unpaid or any Lender shall have any Commitment
hereunder, the Borrower will:

          (a) Minimum Consolidated Tangible Net Worth. Maintain at all times a Consolidated
Tangible Net Worth of not less than the Minimum TNW.

          (b) Regulatory Net Capital. Maintain at all times Regulatory Net Capital in
compliance with applicable law but in no event less than five percent (5%) of its aggregate debit
items calculated using the alternative standard for net capital calculation.

ARTICLE VI

Events of Default

          SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

          (a) (i) the Borrower shall fail to pay any principal of any Loan when the same shall become
due and payable or (ii) the Borrower shall fail to pay any interest on any Loan, or the Borrower
shall fail to make any other payment under any Credit Document, in

48

 

each case under this clause (ii) within three (3) Business Days after the same shall become
due and payable; or

          (b) any representation or warranty made by the Borrower (or any of its officers) under or in
connection with any Credit Document shall prove to have been incorrect in any material respect
when made; or

          (c) the Borrower shall fail to perform or observe any term, covenant or agreement contained
in Section 5.01(d) (solely with respect to the existence of the Borrower), (e), (h) or (j), 5.02,
5.03 or 5.04(a) or (c); or

          (d) (i) the Borrower shall fail to perform or observe any other term, covenant or agreement
contained in Section 5.04(b) and such failure shall remain unremedied for five (5) Business Days
or (ii) the Borrower shall fail to perform or observe any other term, covenant or agreement
contained in any Credit Document (other than described in Section 6.01(a), (b), (c) or (d)(i)) on
its part to be performed or observed if such failure shall remain unremedied for 30 days after the
earlier of the date on which (A) any Financial Officer becomes aware of such failure or (B)
written notice thereof shall have been given to the Borrower by the Administrative Agent or any
Lender; or

          (e) the Borrower or any of its Subsidiaries shall fail to pay any principal of, premium or
interest on or any other amount payable in respect of any Debt of the Borrower or such Subsidiary
(as the case may be) that is outstanding in a principal amount (or, in the case of any Hedge
Agreement, an Agreement Value) of at least $75,000,000 either individually or in the aggregate for
all the Borrower and Subsidiaries (but excluding Debt outstanding hereunder), when the same
becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand
or otherwise), and such failure shall continue after the applicable grace period, if any,
specified in the agreement or instrument relating to such Debt; or any other event shall occur or
condition shall exist under any agreement or instrument relating to any such Debt and shall
continue after the applicable grace period, if any, specified in such agreement or instrument, if
the effect of such event or condition is to accelerate, or to permit the acceleration of, the
maturity of such Debt or otherwise to cause, or to permit the holder thereof to cause, such Debt
to mature; or any such Debt shall be declared to be due and payable or required to be prepaid or
redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or
defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be
made, in each case prior to the stated maturity thereof; or

          (f) (i) an involuntary proceeding shall be commenced or an involuntary petition shall be
filed seeking (A) liquidation, reorganization or other relief in respect of the Borrower or any
Significant Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or
(B) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for the Borrower or any Significant Subsidiary or for a substantial part of its assets,
and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an
order or decree approving or ordering any of the foregoing shall be entered or (ii) the Borrower
or any Significant Subsidiary shall (A) voluntarily commence

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any proceeding or file any petition seeking liquidation, reorganization or other relief under
any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter
in effect, (B) consent to the institution of, or fail to contest in a timely and appropriate
manner, any proceeding or petition described in clause (f)(i) of this Article, (C) apply for or
consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for the Borrower or any Significant Subsidiary or for a substantial part of its assets,
(D) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (E) make a general assignment for the benefit of creditors or (F) take any corporate
board action to authorize any of the foregoing; or

          (g) any judgments or orders, either individually or in the aggregate, for the payment of
money in excess of $75,000,000 shall be rendered against the Borrower or any of its Subsidiaries
and either (i) enforcement proceedings shall have been commenced by any creditor upon such
judgment or order or (ii) there shall be any period of 10 consecutive days during which the
payment for such judgment or order shall remain unsatisfied and a stay of enforcement of such
judgment or order, by reason of a pending appeal or otherwise, shall not be in effect;
provided, however, that any such amount shall be calculated after deducting from
the sum so payable any amount of such judgment or order that is covered by a valid and binding
policy of insurance in favor of the Borrower or Subsidiary from an insurer that is rated at least
“A” by A.M. Best Company, which policy covers full payment thereof and which insurer has been
notified, and has not disputed the claim made for payment, of such amount of such judgment or
order; or

          (h) any provision of any Credit Document after delivery thereof pursuant to Section 4.01 or
5.01(h) shall for any reason cease to be valid and binding on or enforceable against the Borrower
party to it, or the Borrower shall so state in writing except to the extent the Borrower has been
released from its obligations thereunder in accordance with this Agreement or such other Credit
Document or such Credit Document has expired or terminated in accordance with its terms; or

          (i) a Change of Control shall occur; or

          (j) any ERISA Event shall have occurred with respect to a Single Employer Plan which could
reasonably be expected to result in liability to the Borrower and/or any ERISA Affiliate in an
amount that could reasonably be expected to have a Material Adverse Effect; or

          (k) the Borrower or any ERISA Affiliate shall have been notified by the sponsor of a
Multiemployer Plan that it has incurred Withdrawal Liability to such Multiemployer Plan in an
amount that, when aggregated with all other amounts required to be paid to Multiemployer Plans by
the Borrower and the ERISA Affiliates as Withdrawal Liability (determined as of the date of such
notification), could reasonably be expected to have a Material Adverse Effect; or

          (l) the Borrower or any ERISA Affiliate shall have been notified by the sponsor of a
Multiemployer Plan that such Multiemployer Plan is in reorganization or is being terminated,
within the meaning of Title IV of ERISA, and as a result of such reorganization or

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termination the aggregate annual contributions of the Borrower and the ERISA Affiliates to
all Multiemployer Plans that are then in reorganization or being terminated have been or will be
increased over the amounts contributed to such Multiemployer Plans for the plan years of such
Multiemployer Plans immediately preceding the plan year in which such reorganization or
termination occurs by an amount that could reasonably be expected to have a Material Adverse
Effect;

then, and in every such event (other than an event with respect to the Borrower described in clause
(f) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Borrower, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii)
declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become
due and payable immediately, without presentment, demand, protest or further notice of any kind,
all of which are hereby waived by the Borrower; and in case of any event with respect to the
Borrower described in clause (f) of this Article, the Commitments shall automatically terminate and
the principal of the Loans then outstanding, together with accrued interest thereon and all fees
and other obligations of the Borrower accrued hereunder, shall automatically become due and
payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by the Borrower.

ARTICLE VII

[Reserved]

ARTICLE VIII

The Administrative Agent, Syndication Agent and Co-Documentation Agents

          Each of the Lenders hereby irrevocably appoints the Administrative Agent as its agent and
authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers
as are delegated to the Administrative Agent by the terms hereof, together with such actions and
powers as are reasonably incidental thereto.

          The bank serving as the Administrative Agent, the bank serving as Syndication Agent hereunder
and the banks serving as Co-Documentation Agents shall have the same rights and powers in their
capacities as Lenders as any other Lender and may exercise the same as though it were not the
Administrative Agent, the Syndication Agent or a Co-Documentation Agent, and such banks and their
Affiliates may accept deposits from, lend money to and generally engage in any kind of business
with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative
Agent, the Syndication Agent or a Co-Documentation Agent hereunder.

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          The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Neither the Syndication Agent nor the Co-Documentation Agents shall have any duties
or responsibilities hereunder in their respective capacities as such. Without limiting the
generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or
other implied duties, regardless of whether a Default has occurred and is continuing, (b) the
Administrative Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby that the
Administrative Agent is required to exercise in writing as directed by the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the circumstances as
provided in Section 9.02), and (c) except as expressly set forth herein, the Administrative Agent
shall not have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained
by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The
Administrative Agent, the Syndication Agent and the Co-Documentation Agents shall not be liable for
any action taken or not taken by it with the consent or at the request of the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the circumstances as
provided in Section 9.02) or in the absence of its own gross negligence or wilful misconduct. The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until written
notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the
Administrative Agent, the Syndication Agent and the Co-Documentation Agents shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement, (ii) the contents of any certificate,
report or other document delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv)
the validity, enforceability, effectiveness or genuineness of this Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to
the Administrative Agent.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as the activities as Administrative Agent.

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          Subject to the appointment and acceptance of a successor Administrative Agent as provided
in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the
Borrower. Upon any such resignation, the Required Lenders shall have the right (with the consent
of the Borrower, which consent shall not be unreasonably withheld or delayed and shall not be
required if any Event of Default shall be continuing) to appoint a successor. If no successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment
within thirty (30) days after the retiring Administrative Agent gives notice of its resignation,
then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor
Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of
any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a
successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent
shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to
a successor Administrative Agent shall be the same as those payable to its predecessor unless
otherwise agreed between the Borrower and such successor. After the Administrative Agent’s
resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for
the benefit of such retiring Administrative Agent, its sub agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while it was acting
as Administrative Agent.

          Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent, the Syndication Agent, the Co-Documentation Agents or any other Lender and
based on such documents and information as it has deemed appropriate, made its own credit analysis
and decision to enter into this Agreement. Each Lender also acknowledges that it will,
independently and without reliance upon the Administrative Agent, the Syndication Agent, the
Co-Documentation Agents or any other Lender and based on such documents and information as it shall
from time to time deem appropriate, continue to make its own decisions in taking or not taking
action under or based upon this Agreement, any related agreement or any document furnished
hereunder or thereunder.

ARTICLE IX

Miscellaneous

          SECTION 9.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by facsimile, as follows:

     (i) if to the Borrower, to it at TD AMERITRADE Clearing, Inc. 4211 So. 102nd Street,
Omaha, NE 68127, Attention: Managing Director, Treasury, Fax: 402-827-8663, E-mail
Address: James.Powell@tdameritrade.com, with a copy to TD AMERITRADE Clearing, Inc., 6940
Columbia Gateway Drive, Suite 200, Columbia, Maryland 21046, Attention: Deputy General
Counsel, Fax: 443-539-2209, E-mail Address: David.Lambert@tdameritrade.com;

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     (ii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A., Loan and Agency
Services Group, 1111 Fannin, 10th Floor, Houston, Texas 77002, Attention: Siraz Maknojia,
Fax: 713-374-4312, Email Address: Siraz.x.maknojia@jpmorgan.com, with a copy to Carla
Kinney, Fax: 713-374-4312, Email Address: Carla.m.kinney@chase.com; and

     (iii) if to any other Lender, to it at its address (or facsimile number) set forth in
its Administrative Questionnaire.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the Administrative Agent and the
Borrower; provided that the foregoing shall not apply to notices pursuant to Article II
unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative
Agent or the Borrower may, in its discretion, agree to accept notices and other communications to
it hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

          (c) Any party hereto may change its address or electronic communication or facsimile number
for notices and other communications hereunder by notice to the other parties hereto. All notices
and other communications given to any party hereto in accordance with the provisions of this
Agreement shall be deemed to have been given on the date of receipt.

          SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent or any Lender in exercising any right or power 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 a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative
Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that
they would otherwise have. No waiver of any provision of this Agreement or consent to any
departure by the Borrower therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless
of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default
at the time.

          (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Borrower and the Required
Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without
the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the
rate of interest thereon, or reduce any fees payable hereunder, without the written consent of
each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount
of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of,
waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment,
without the written consent of

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each Lender affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter
the pro rata sharing of payments required thereby, without the written consent of each Lender
adversely affected thereby, (v) change Section 2.20 without the consent of the Swingline Lenders
or (vi) change any of the provisions of this Section or reduce any number or percentage set forth
in the definition of “Required Lenders” or any other provision hereof specifying the
number or percentage of Lenders required to waive, amend or modify any rights hereunder or make
any determination or grant any consent hereunder, without the written consent of each Lender;
provided further that no such agreement shall amend, modify or otherwise affect
the rights or duties of the Administrative Agent or the Swingline Lenders hereunder without the
prior written consent of the Administrative Agent or the Swingline Lenders, as the case may be.

          SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out of pocket expenses incurred by the Administrative Agent, the Lead Arrangers and each
of their respective Affiliates, including the reasonable fees, charges and disbursements of one law
firm acting as primary counsel for the Administrative Agent and the Lead Arrangers and any
additional special counsel to the Administrative Agent and the Lead Arrangers engaged after
consultation with the Borrower, in connection with the syndication of the credit facilities
provided for herein, the preparation and administration of this Agreement or any amendments,
modifications or waivers of the provisions hereof (whether or not the transactions contemplated
hereby or thereby shall be consummated) and (ii) all out-of-pocket expenses incurred by the
Administrative Agent or any Lender, including the reasonable and documented fees, charges and
disbursements of one law firm acting as primary counsel for the Administrative Agent and the
Lenders and any additional special counsel to the Administrative Agent and the Lenders engaged
after consultation with the Borrower, in connection with the enforcement or protection of its
rights in connection with this Agreement, including its rights under this Section, or in connection
with the Loans made hereunder, including all such out-of pocket expenses incurred during any
workout, restructuring or negotiations in respect of such Loans and (iii) any charges of
IntraLinks/IntraAgency or other relevant website or CUSIP charges.

          (b) The Borrower shall indemnify the Administrative Agent, the Syndication Agent, the
Co-Documentation Agents, the Lead Arrangers and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each
Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses,
including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or
asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective obligations hereunder or the consummation of
the Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the
proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or
from any property owned or operated by the Borrower or any of its Subsidiaries, or any
Environmental Action relating in any way to the Borrower or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that

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such losses, claims, damages, liabilities or related expenses are determined by a court of
competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or wilful misconduct of such Indemnitee, or the breach in bad faith of any of such
Indemnitee’s express obligations hereunder, and provided further, that this
Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses
or damages arising from any non-Tax claim.

          (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent or the Swingline Lenders under paragraph (a) or (b) of this Section, each
Lender severally agrees to pay to the Administrative Agent or the Swingline Lenders, as the case
may be, such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the
case may be, was incurred by or asserted against the Administrative Agent or the Swingline Lenders
in their capacities as such.

          (d) To the extent permitted by applicable law, no party hereto shall assert, and hereby
waives, any claim against the Borrower or any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out
of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof; provided that
this shall not limit the Borrower’s indemnification obligations pursuant to Section 9.03(b).

          (e) All amounts due under this Section shall be payable promptly after written demand
therefor.

          SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) the Borrower may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by the Borrower without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in
accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed
to confer upon any Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants (to the extent provided in paragraph (c) of this Section) and, to
the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent
and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

          (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign
to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans at the time owing to it) with the
prior written consent (such consent not to be unreasonably withheld) of:

               (A) the Borrower, provided that no consent of the Borrower shall be
required for an assignment to a Lender, an Affiliate of a Lender, an Approved

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Fund or, if an Event of Default has occurred and is continuing, any other
assignee; and

               (B) the Administrative Agent, provided that no consent of the
Administrative Agent shall be required for an assignment of any Commitment to an
assignee that is a Lender with a Commitment immediately prior to giving effect to
such assignment.

          (ii) Assignments shall be subject to the following additional conditions:

               (A) except in the case of an assignment to a Lender or an Affiliate of a Lender
or an assignment of the entire remaining amount of the assigning Lender’s Commitment
or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender
subject to each such assignment (determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent)
shall not be less than $5,000,000 unless each of the Borrower and the Administrative
Agent otherwise consent, provided that no such consent of the Borrower shall
be required if an Event of Default has occurred and is continuing;

               (B) each partial assignment shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement,
provided that this clause shall not be construed to prohibit the assignment
of a proportionate part of all the assigning Lender’s rights and obligations in
respect of one Class of Commitments or Loans;

               (C) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500; and

               (D) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee
designates one or more Credit Contacts to whom all syndicate-level information
(which may contain material non-public information about the Borrower and its
related parties or their respective securities) will be made available and who may
receive such information in accordance with the assignee’s compliance procedures and
applicable laws, including Federal and state securities laws.

          For the purposes of this Section 9.04(b), the term “Approved Fund” has the following
meaning:

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

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          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue, to the extent permitted by applicable
law, to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this
Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with paragraph (c) of this Section.

          (iv) The Administrative Agent, acting for this purpose as a non-fiduciary agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered
to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register; provided that if either the assigning Lender
or the assignee shall have failed to make any payment required to be made by it pursuant to Section
2.05(c), 2.07(b), 2.18(d) or 9.03(c), the Administrative Agent shall have no obligation to accept
such Assignment and Assumption and record the information therein in the Register unless and until
such payment shall have been made in full, together with all accrued interest thereon. No
assignment shall be effective for purposes of this Agreement unless it has been recorded in the
Register as provided in this paragraph.

          (vi) Any Lender may, without the consent of the Borrower, the Administrative Agent or the
Swingline Lenders, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrower, the Administrative Agent and the other Lenders shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this

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Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve
any amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the first proviso to
Section 9.02(b) that affects such Participant. The Borrower agrees that, to the extent permitted
by applicable law, each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and
2.17 (subject to the requirements and limitations therein, including the requirements under Section
2.17(f) (it being understood that the documentation required under Section 2.17(f) shall be
delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to paragraph (b) of this Section; provided that such
Participant (A) agrees to be subject to the provisions of Sections 2.15 and 2.17 as if it were an
assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater
payment under Sections 2.15 or 2.17, with respect to any participation, than its participating
Lender would have been entitled to receive, except to the extent such entitlement to receive a
greater payment results from an adoption of or any Change in Law made subsequent to the date hereof
that occurs after the Participant acquired the applicable participation. To the extent permitted
by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a
Lender, provided such Participant agrees to be subject to Section 2.18(c) as though it were a
Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of
the Borrower, maintain a register on which it enters the name and address of each Participant and
the principal amounts (and stated interest) of each Participant’s interest in the Loans or other
obligations under this Agreement (the “Participant Register”); provided that no
Lender shall have any obligation to disclose all or any portion of the Participant Register to any
Person (including the identity of any Participant or any information relating to a Participant’s
interest in any Commitments, Loans or its other obligations under any Credit Document) except to
the extent that such disclosure is necessary to establish that such Commitment, Loan or other
obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and
such Lender shall treat each person whose name is recorded in the Participant Register as the owner
of such participation for all purposes of this Agreement notwithstanding any notice to the
contrary.

          (c) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a security interest shall release a Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

          SECTION 9.05. Survival. All covenants, agreements, representations and warranties
made by the Borrower herein and in the certificates or other instruments delivered in connection
with or pursuant to this Agreement shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of this Agreement and the making of any
Loans, regardless of any investigation made by any such other party or on its behalf and
notwithstanding that the Administrative Agent or any Lender may have had notice or

59

 

knowledge of any Default or incorrect representation or warranty at the time any credit is
extended hereunder, and shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or any fee or any other amount payable under this Agreement is
outstanding and unpaid and so long as the Commitments have not expired or terminated. The
provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full
force and effect regardless of the consummation of the transactions contemplated hereby, the
repayment of the Loans and the Commitments or the termination of this Agreement or any provision
hereof.

          SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall
become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by email or facsimile transmission shall
be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 9.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender is hereby authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other obligations at any time owing by such
Lender to or for the credit or the account of the Borrower against any of and all the obligations
of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of
whether or not such Lender shall have made any demand under this Agreement and although such
obligations may be unmatured. The rights of each Lender under this Section are in addition to
other rights and remedies (including other rights of setoff) which such Lender may have.

          SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

          (b) The parties hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in
New York County and of the United States District Court of the Southern District of New York, and
any appellate court from any thereof, in any action or proceeding

60

 

arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding may be heard and determined in such New York
State or, to the extent permitted by law, in such Federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Agreement shall affect any right that the Administrative Agent or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement against the Borrower
or its properties in the courts of any jurisdiction.

          (c) The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement will affect the right of any
party to this Agreement to serve process in any other manner permitted by law.

          SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY UNCONDITIONALLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION.

          SECTION 9.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 9.12. Confidentiality. (a) Each of the Administrative Agent and the Lenders
agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (i) to its and its Affiliates’ directors, officers, employees and
agents, including accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (ii) to the extent requested by
any regulatory authority, (iii) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (iv) to any other party to this Agreement, (v) in connection

61

 

with the exercise of any remedies hereunder or any suit, action or proceeding relating to this
Agreement or the enforcement of rights hereunder (with respect to litigation brought by any Person
other than the Administrative Agent, the Borrower or any Lender Party, after the Borrower shall
have had notice thereof and the opportunity to seek a protective order or other appropriate remedy
with respect thereto), (vi) subject to an agreement containing provisions no less restrictive than
those of this Section to (A) any assignee of or Participant in, or any prospective assignee of or
Participant in, any of its rights or obligations under this Agreement or (B) any actual or
prospective counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower and its obligations, (vii) with the consent of the Borrower or (vii) to the extent such
Information (A) becomes publicly available other than as a result of a breach of this Section or
(B) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a
source other than the Borrower. For the purposes of this Section, “Information” means all
information received from the Borrower relating to the Borrower or its business, other than any
such information that is available to the Administrative Agent or any Lender on a nonconfidential
basis prior to disclosure by the Borrower; provided that, in the case of information
received from the Borrower after the date hereof, such information is clearly identified at the
time of delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

          (b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a) FURNISHED TO IT
PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND
ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE
PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING
FEDERAL AND STATE SECURITIES LAWS.

          (c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER
OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE
SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER
AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO
THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE
QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC
INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW.

          SECTION 9.13. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively

62

 

the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”)
which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan
in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder,
together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to
the extent lawful, the interest and Charges that would have been payable in respect of such Loan
but were not payable as a result of the operation of this Section shall be cumulated and the
interest and Charges payable to such Lender in respect of other Loans or periods shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together with interest
thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by
such Lender.

          SECTION 9.14. USA PATRIOT ACT. Each Lender hereby notifies the Borrower that pursuant
to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information
that identifies the Borrower, which information includes the name and address of the Borrower and
other information that will allow such Lender to identify the Borrower in accordance with the
Patriot Act.

          SECTION 9.15. No Fiduciary Duty. Neither the Administrative Agent nor any Lender has
any fiduciary relationship with or duty to the Borrower or its Affiliates arising out of or in
connection with this Agreement or any of the other Credit Document, and the relationship between
Administrative Agent and Lenders, on one hand, and the Borrower or its Affiliates, on the other
hand, in connection herewith or therewith is solely that of debtor and creditor.

63

 

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

	 	 	 	 	 
	 	TD AMERITRADE CLEARING, INC.,

as Borrower

 	 
	 	By:  	/s/
William J. Gerber	 
	 	 	Name:  	William J. Gerber	 
	 	 	Title:  	Chief Financial Officer	 
	 
	 	JPMORGAN CHASE BANK, N.A., as 

Administrative Agent,Swingline Lender and as a 

Lender

 	 
	 	By:  	/s/
Catherine Grossman	 
	 	 	Name:  	Catherine Grossman	 
	 	 	Title:  	Vice President	 
	 
	 	BANK OF AMERICA, N.A., as Syndication Agent,

Swingline Lender and as a Lender

 	 
	 	By:  	/s/
Sherman M. Wong	 
	 	 	Name:  	Sherman M. Wong	 
	 	 	Title:  	Director	 
	 
	 	BARCLAYS BANK PLC,
 as a Lender

 	 
	 	By:  	/s/
Alicia Borys	 
	 	 	Name:  	Alicia Borys	 
	 	 	Title:  	Vice President	 
	 
	 	CITIBANK, N.A., as a Co-Documentation Agent 

and as a Lender

 	 
	 	By:  	/s/
William Mandaro	 
	 	 	Name:  	William Mandaro	 
	 	 	Title:  	Director	 
	 

[Signature Page to the TD Ameritrade Clearing, Inc. Credit Agreement]

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Co-Documentation Agent and
as a Lender

 	 
	 	By:  	/s/
Michael H. Wheeler 	 
	 	 	Name:  	Michael H. Wheeler 	 
	 	 	Title:  	Vice President	 
	 
	 	 
	 	BANKERS TRUST COMPANY, as a
Lender

 	 
	 	By:  	/s/
Joe M. DeJong	 
	 	 	Name:  	Joe M. DeJong	 
	 	 	Title:  	Vice President	 
	 
	 	 
	 	CHANG HWA COMMERCIAL BANK,
LTD.,
LOS ANGELES BRANCH, as a Lender

 	 
	 	By:  	/s/
Beverley Chen	 
	 	 	Name:  	Beverley Chen	 
	 	 	Title:  	VP & General Manager	 
	 
	 	 
	 	E. SUN COMMERCIAL BANK, LTD., 

LOS ANGELES BRANCH, as a Lender

 	 
	 	By:  	/s/
Edward Chen	 
	 	 	Name:  	Edward Chen	 
	 	 	Title:  	VP & General Manager	 
	 
	 	 
	 	FIFTH THIRD BANK, as a Lender

 	 
	 	By:  	/s/
Lynn Hebel	 
	 	 	Name:  	Lynn Hebel	 
	 	 	Title:  	Vice President	 
	 
	 	 
	 	FIRST COMMERCIAL BANK NEW YORK,
as a Lender

 	 
	 	By:  	/s/
Jason Lee
	 
	 	 	Name:  	Jason Lee	 
	 	 	Title:  	General Manager	 
	 
	 	 
	 	FIRST NATIONAL BANK OMAHA,

as a Lender

 	 
	 	By:  	/s/
Steven R. Knapp
	 
	 	 	Name:  	Steven R. Knapp	 
	 	 	Title:  	Senior Vice President & Group Manager	 
	 
	 	 
	 	HUA NAN COMMERCIAL BANK, LTD., 

NEW YORK AGENCY,
as a Lender

 	 
	 	By:  	/s/
Henry Hsieh	 
	 	 	Name:  	Henry Hsieh	 
	 	 	Title:  	Assistant Vice President	 
	 
	 	 
	 	MEGA INTERNATIONAL COMMERCIAL BANK
CO., LTD. NEW YORK BRANCH,
as a Lender

 	 
	 	By:  	/s/
Priscilla Hsing	 
	 	 	Name:  	Priscilla Hsing	 
	 	 	Title:  	VP & DGM	 
	 
	 	 
	 	THE BANK OF NEW YORK MELLON,
as a Lender

 	 
	 	By:  	/s/
Steven J. Correll	 
	 	 	Name:  	Steven J. Correll	 
	 	 	Title:  	Managing Director	 
	 
	 	 
	 	THE PRIVATE BANK,
as a Lender

 	 
	 	By:  	/s/
John Mickelson	 
	 	 	Name:  	John Mickelson	 
	 	 	Title:  	Associate Managing Director	 
	 
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
as a Lender

 	 
	 	By:  	/s/
Charles Howes	 
	 	 	Name:  	Charles Howes	 
	 	 	Title:  	Vice President	 

[Signature Page to the TD Ameritrade Clearing, Inc. Credit Agreement]exv4w1

Exhibit 4.1

 
 

INSULET CORPORATION

AND

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

INDENTURE

Dated as of June 29, 2011

3.75% Convertible Senior Notes due 2016

 
 

 

 

TABLE OF CONTENTS

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
 Definitions
	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. References to Interest
	 	 	11	 
	 
	ARTICLE 2
 Issue, Description, Execution, Registration and Exchange of Notes
	 
	Section 2.01. Designation and Amount
	 	 	12	 
	Section 2.02. Form of Notes
	 	 	12	 
	Section 2.03. Date and Denomination of Notes; Payments of Interest and Defaulted Amounts
	 	 	13	 
	Section 2.04. Execution, Authentication and Delivery of Notes
	 	 	14	 
	Section 2.05. Exchange and Registration of Transfer of Notes; Depositary
	 	 	14	 
	Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes
	 	 	17	 
	Section 2.07. Temporary Notes
	 	 	18	 
	Section 2.08. Cancellation of Notes Paid, Converted, Etc
	 	 	18	 
	Section 2.09. CUSIP Numbers
	 	 	18	 
	Section 2.10. Additional Notes; Purchases
	 	 	18	 
	 
	ARTICLE 3
 Satisfaction and Discharge
	 
	Section 3.01. Satisfaction and Discharge
	 	 	19	 
	 
	ARTICLE 4
 Particular Covenants of the Company
	 
	Section 4.01. Payment of Principal and Interest
	 	 	19	 
	Section 4.02. Maintenance of Office or Agency
	 	 	20	 
	Section 4.03. Appointments to Fill Vacancies in Trustee’s Office
	 	 	20	 
	Section 4.04. Provisions as to Paying Agent
	 	 	20	 
	Section 4.05. Existence
	 	 	21	 
	Section 4.06. Annual Reports
	 	 	21	 
	Section 4.07. Stay, Extension and Usury Laws
	 	 	22	 
	Section 4.08. Compliance Certificate; Statements as to Defaults
	 	 	22	 
	Section 4.09. Further Instruments and Acts
	 	 	22	 

i

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 5
 Lists of Holders and Reports by the Company and the Trustee
	 
	Section 5.01. Lists of Holders
	 	 	22	 
	Section 5.02. Preservation and Disclosure of Lists
	 	 	23	 
	 
	ARTICLE 6
 Defaults and Remedies
	 
	Section 6.01. Events of Default
	 	 	23	 
	Section 6.02. Acceleration; Rescission and Annulment
	 	 	24	 
	Section 6.03. Additional Interest
	 	 	25	 
	Section 6.04. Payments of Notes on Default; Suit Therefor
	 	 	25	 
	Section 6.05. Application of Monies Collected by Trustee
	 	 	27	 
	Section 6.06. Proceedings by Holders
	 	 	28	 
	Section 6.07. Proceedings by Trustee
	 	 	29	 
	Section 6.08. Remedies Cumulative and Continuing
	 	 	29	 
	Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders
	 	 	29	 
	Section 6.10. Notice of Defaults
	 	 	30	 
	Section 6.11. Undertaking to Pay Costs
	 	 	30	 
	 
	ARTICLE 7
 Concerning the Trustee
	 
	Section 7.01. Duties and Responsibilities of Trustee
	 	 	30	 
	Section 7.02. Reliance on Documents, Opinions, Etc
	 	 	32	 
	Section 7.03. No Responsibility for Recitals, Etc
	 	 	33	 
	Section 7.04. Trustee, Paying Agents, Conversion Agent, Bid Solicitation Agent or Note Registrar May Own Notes
	 	 	33	 
	Section 7.05. Monies and Shares of Common Stock to Be Held in Trust
	 	 	33	 
	Section 7.06. Compensation and Expenses of Trustee
	 	 	33	 
	Section 7.07. Officers’ Certificate as Evidence
	 	 	34	 
	Section 7.08. Eligibility of Trustee
	 	 	35	 
	Section 7.09. Resignation or Removal of Trustee
	 	 	35	 
	Section 7.10. Acceptance by Successor Trustee
	 	 	36	 
	Section 7.11. Succession by Merger, Etc
	 	 	36	 
	 
	ARTICLE 8
 Concerning the Holders
	 
	Section 8.01. Action by Holders
	 	 	37	 
	Section 8.02. Proof of Execution by Holders
	 	 	37	 
	Section 8.03. Who Are Deemed Absolute Owners
	 	 	37	 
	Section 8.04. Company-Owned Notes Disregarded
	 	 	38	 
	Section 8.05. Revocation of Consents; Future Holders Bound
	 	 	38	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 9
 Intentionally Omitted
	 
	ARTICLE 10
 Supplemental Indentures
	 
	Section 10.01. Supplemental Indentures Without Consent of Holders
	 	 	39	 
	Section 10.02. Supplemental Indentures with Consent of Holders
	 	 	39	 
	Section 10.03. Effect of Supplemental Indentures
	 	 	41	 
	Section 10.04. Notation on Notes
	 	 	41	 
	Section 10.05. Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee
	 	 	41	 
	 
	ARTICLE 11
 Consolidation, Merger, Sale, Conveyance and Lease
	 
	Section 11.01. Company May Consolidate, Etc. on Certain Terms
	 	 	41	 
	Section 11.02. Successor Corporation to Be Substituted
	 	 	42	 
	Section 11.03. Opinion of Counsel to Be Given to Trustee
	 	 	42	 
	 
	ARTICLE 12
 Immunity of Incorporators, Stockholders, Officers and Directors
	 
	Section 12.01. Indenture and Notes Solely Corporate Obligations 	 	 	43	 
	 
	ARTICLE 13
 Intentionally Omitted
	 
	ARTICLE 14
 Conversion of Notes
	 
	Section 14.01. Conversion Privilege
	 	 	43	 
	Section 14.02. Conversion Procedure; Settlement Upon Conversion
	 	 	45	 
	Section 14.03. Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes
	 	 	49	 
	Section 14.04. Adjustment of Conversion Rate
	 	 	52	 
	Section 14.05. Adjustments of Prices
	 	 	60	 
	Section 14.06. Shares to Be Fully Paid
	 	 	61	 
	Section 14.07. Effect of Recapitalizations, Reclassifications and Changes of the Common Stock
	 	 	61	 
	Section 14.08. Certain Covenants
	 	 	62	 
	Section 14.09. Responsibility of Trustee
	 	 	63	 
	Section 14.10. Notice to Holders Prior to Certain Actions
	 	 	63	 
	Section 14.11. Stockholder Rights Plans
	 	 	64	 
	Section 14.12. Exchange In Lieu Of Conversion
	 	 	64	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 15
 Purchase of Notes at Option of Holders
	 
	Section 15.01. Intentionally Omitted
	 	 	65	 
	Section 15.02. Purchase at Option of Holders Upon a Fundamental Change
	 	 	65	 
	Section 15.03. Withdrawal of Fundamental Change Purchase Notice
	 	 	67	 
	Section 15.04. Deposit of Fundamental Change Purchase Price
	 	 	68	 
	Section 15.05. Covenant to Comply with Applicable Laws Upon Purchase of Notes
	 	 	68	 
	 
	ARTICLE 16
 Optional Redemption
	 
	Section 16.01. Optional Redemption
	 	 	69	 
	Section 16.02. Notice of Optional Redemption; Selection of Notes
	 	 	69	 
	Section 16.03. Payment of Notes Called for Redemption
	 	 	71	 
	Section 16.04. Restrictions on Redemption
	 	 	71	 
	 
	ARTICLE 17
 Miscellaneous Provisions
	 
	Section 17.01. Provisions Binding on Company’s Successors
	 	 	71	 
	Section 17.02. Official Acts by Successor Corporation
	 	 	72	 
	Section 17.03. Addresses for Notices, Etc
	 	 	72	 
	Section 17.04. Governing Law
	 	 	72	 
	Section 17.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee
	 	 	72	 
	Section 17.06. Legal Holidays
	 	 	73	 
	Section 17.07. No Security Interest Created
	 	 	73	 
	Section 17.08. Benefits of Indenture
	 	 	73	 
	Section 17.09. Table of Contents, Headings, Etc
	 	 	73	 
	Section 17.10. Authenticating Agent
	 	 	73	 
	Section 17.11. Execution in Counterparts
	 	 	74	 
	Section 17.12. Severability
	 	 	74	 
	Section 17.13. Waiver of Jury Trial
	 	 	75	 
	Section 17.14. Force Majeure
	 	 	75	 
	Section 17.15. Calculations
	 	 	75	 
	Section 17.16. U.S.A. Patriot Act
	 	 	75	 
	Section 17.17. Rules by Trustee and Agents
	 	 	75	 
	EXHIBIT
	 
	Exhibit A Form of Note
	 	 	A-1	 

iv

 

     INDENTURE dated as of June 29, 2011 between Insulet Corporation, a Delaware corporation, as
issuer (the “Company”, as more fully set forth in Section 1.01) and Wells Fargo Bank, National
Association, a national banking association, as trustee (the “Trustee”, as more fully set forth in
Section 1.01).

W I T N E S S E T H:

     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of
its 3.75% Convertible Senior Notes due 2016 (the “Notes”), initially in an aggregate principal
amount not to exceed $143,750,000, and in order to provide the terms and conditions upon which the
Notes are to be authenticated, issued and delivered, the Company has duly authorized the execution
and delivery of this Indenture; and

     WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note, the
Form of Notice of Conversion, the Form of Fundamental Change Purchase Notice and the Form of
Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter
provided; and

     WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee or a duly authorized authenticating agent, as in this
Indenture provided, the valid, binding and legal obligations of the Company, and this Indenture a
valid agreement according to its terms, have been done and performed, and the execution of this
Indenture and the issuance hereunder of the Notes have in all respects been duly authorized.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     That in order to declare the terms and conditions upon which the Notes are, and are to be,
authenticated, issued and delivered, and in consideration of the premises and of the purchase and
acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee
for the equal and proportionate benefit of the respective Holders from time to time of the Notes
(except as otherwise provided below), as follows:

ARTICLE 1

Definitions

     Section 1.01.  Definitions. The terms defined in this Section 1.01 (except as herein
otherwise expressly provided or unless the context otherwise requires) for all purposes of this
Indenture and of any indenture supplemental hereto shall have the respective meanings specified in
this Section 1.01. The words “herein,” “hereof,” “hereunder,” and words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision. The
terms defined in this Article include the plural as well as the singular.

     “Additional Interest” means all amounts, if any, payable pursuant to Section 6.03.

 

 

     “Additional Shares” shall have the meaning specified in Section 14.03(a).

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control,” when used with respect to any specified Person means the
power to direct or cause the direction of the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing.

     “Bid Solicitation Agent” means the Person appointed by the Company to solicit bids for the
Trading Price of the Notes in accordance with Section 14.01(b)(i). The Trustee shall initially act
as the Bid Solicitation Agent.

     “Board of Directors” means the board of directors of the Company or a committee of such board
duly authorized to act for it hereunder.

     “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors, and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not (i) a
day on which the banking institutions in The City of New York are authorized or obligated by law or
executive order to close or be closed or (ii) a day on which the Corporate Trust Office is
authorized or obligated by law or executive order to close or be closed.

     “Capital Stock” means, for any entity, any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
stock issued by that entity.

     “Cash Settlement” shall have the meaning specified in Section 14.02(a).

     “Clause A Distribution” shall have the meaning specified in Section 14.04(c).

     “Clause B Distribution” shall have the meaning specified in Section 14.04(c).

     “Clause C Distribution” shall have the meaning specified in Section 14.04(c).

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

     “Combination Settlement” shall have the meaning specified in Section 14.02(a).

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

     “Common Equity” of any Person means Capital Stock of such Person that is generally entitled
(a) to vote in the election of directors of such Person or (b) if such Person is not a corporation,
to vote or otherwise participate in the selection of the governing body, partners, managers or
others that will control the management or policies of such Person.

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     “Common Stock” means the common stock of the Company, par value $0.001 per share, at the date
of this Indenture, subject to Section 14.07.

     “Company” shall have the meaning specified in the first paragraph of this Indenture, and
subject to the provisions of Article 11, shall include its successors and assigns.

     “Company Order” means a written order of the Company, signed by (a) an Officer of the Company
and (b) another Officer of the Company, other than the Officer designated in clause (a) of this
definition, or the Company’s Assistant Treasurer or any Assistant Secretary, and delivered to the
Trustee.

     “Continuing Director” means a director who either was a member of the Board of Directors on
June 23, 2011 or who becomes a member of the Board of Directors subsequent to that date and whose
election, appointment or nomination for election by the stockholders of the Company is duly
approved by a majority of the continuing directors on the Board of Directors at the time of such
approval, either by a specific vote or by approval of the proxy statement issued by the Company on
behalf of the entire Board of Directors in which such individual is named as nominee for director.
Solely for purposes of this definition, the phrase “or a committee of such board duly authorized to
act for it hereunder” of the definition of Board of Directors shall be disregarded.

     “Conversion Agent” shall have the meaning specified in Section 4.02.

     “Conversion Date” shall have the meaning specified in Section 14.02(c).

     “Conversion Obligation” shall have the meaning specified in Section 14.01(a).

     “Conversion Price” means as of any date, $1,000, divided by the Conversion Rate as of such
date.

     “Conversion Rate” shall have the meaning specified in Section 14.01(a).

     “Corporate Trust Office” means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the date hereof is located at Wells
Fargo Bank, National Association, Corporate Trust Services, MAC N9311-110, 625 Marquette Ave.
South, Minneapolis, MN 55479, Attention: Insulet Corporation Account Manager, 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).

     “Custodian” means the Trustee, as custodian for The Depository Trust Company, with respect to
the Global Notes, or any successor entity thereto.

     “Daily Conversion Value” means, for each of the 25 consecutive Trading Days during the
Observation Period, 4% of the product of (a) the Conversion Rate on such Trading Day and (b) the
Daily VWAP on such Trading Day.

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     “Daily Measurement Value” means the Specified Dollar Amount (if any), divided by 25.

     “Daily Settlement Amount,” for each of the 25 consecutive Trading Days during the Observation
Period, shall consist of:

     (a) cash in an amount equal to the lesser of (i) the Daily Measurement Value and (ii)
the Daily Conversion Value on such Trading Day; and

     (b) if the Daily Conversion Value on such Trading Day exceeds the Daily Measurement
Value, a number of shares of Common Stock equal to (i) the difference between the Daily
Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such
Trading Day.

     “Daily VWAP” means, for each of the 25 consecutive Trading Days during the applicable
Observation Period, the per share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page “PODD <equity> AQR” (or its equivalent successor if such
page is not available) in respect of the period from the scheduled open of trading until the
scheduled close of trading of the primary trading session on such Trading Day (or if such
volume-weighted average price is unavailable, the market value of one share of the Common Stock on
such Trading Day as determined by the Board of Directors in a commercially reasonable manner using
a volume-weighted average method). The “Daily VWAP” shall be determined without regard to after
hours trading or any other trading outside of the regular trading session trading hours.

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

     “Defaulted Amounts” means any amounts on any Note (including, without limitation, the
Redemption Price, the Fundamental Change Purchase Price, principal and interest) that are payable
but are not punctually paid or duly provided for.

     “Depositary” means, with respect to each Global Note, the Person specified in Section 2.05(c)
as the Depositary with respect to such Notes, until a successor shall have been appointed and
become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary”
shall mean or include such successor.

     “Designated Institution” shall have the meaning specified in Section 14.12.

     “Distributed Property” shall have the meaning specified in Section 14.04(c).

     “effective date” means, for purposes of Section 14.04, the first date on which the shares of
the Common Stock trade on the applicable exchange or in the applicable market, regular way,
reflecting the relevant transaction.

     “Effective Date” shall have the meaning specified in Section 14.03(c).

     “Event of Default” shall have the meaning specified in Section 6.01.

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

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

     “Form of Assignment and Transfer” shall mean the “Form of Assignment and Transfer” attached as
Attachment 3 to the Form of Note attached hereto as Exhibit A.

     “Form of Fundamental Change Purchase Notice” shall mean the “Form of Fundamental Change
Purchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.

     “Form of Notice of Conversion” shall mean the “Form of Notice of Conversion” attached as
Attachment 1 to the Form of Note attached hereto as Exhibit A.

     “Fundamental Change” shall be deemed to have occurred at the time after the Notes are
originally issued if any of the following occurs:

     (a) any “person” or “group” (within the meaning of Section 13(d) of the
Exchange Act) other than the Company, its Subsidiaries or the employee benefit plans
of the Company or any such Subsidiary, files any schedule, form or report under the
Exchange Act disclosing that such person or group has become the direct or indirect
ultimate “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the
Company’s Common Equity representing more than 50% of the voting power of the
Company’s Common Equity;

     (b) consummation of any share exchange, exchange offer, tender offer,
consolidation or merger of the Company pursuant to which all or substantially all of
the Common Stock is converted into cash, securities or other property or any sale,
lease or other transfer in one transaction or a series of transactions of all or
substantially all of the consolidated assets of the Company and its Subsidiaries,
taken as a whole, to any Person other than one of the Company’s Subsidiaries;
provided, however, that any such transaction where the holders of more than 50% of
 shares of Common Stock immediately prior to such transaction that is a share
exchange, consolidation or merger own, directly or indirectly, more than 50% of all
classes of common equity of the continuing or surviving corporation or transferee or
the parent thereof immediately after such event shall not be a Fundamental Change;

     (c) Continuing Directors cease to constitute at least a majority of the Board
of Directors;

     (d) the stockholders of the Company approve any plan or proposal for the
liquidation or dissolution of the Company; or

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     (e) the Common Stock (or other common stock into which the Notes are then
convertible) ceases to be quoted or listed for trading on a U.S. national securities
exchange,

provided, however, in the case of a transaction or event described in clause (a) or (b) above, if
at least 90% of the consideration received or to be received by the holders of Common Stock,
excluding cash payments for fractional shares or pursuant to statutory appraisal rights, in
connection with the transaction or transactions constituting the Fundamental Change consists of
shares of Publicly Traded Securities, and as a result of such transaction or transactions, the
Notes become convertible or exchangeable into such Publicly Traded Securities, excluding cash
payments for fractional shares and pursuant to statutory appraisal rights (subject to the
provisions of Section 14.02(a)), such event shall not be a Fundamental Change.

     “Fundamental Change Company Notice” shall have the meaning specified in Section 15.02(c).

     “Fundamental Change Purchase Date” shall have the meaning specified in Section 15.02(a).

     “Fundamental Change Purchase Notice” shall have the meaning specified in Section 15.02(b)(i).

     “Fundamental Change Purchase Price” shall have the meaning specified in Section 15.02(a).

     “Global Note” shall have the meaning specified in Section 2.05(b).

     “Holder,” as applied to any Note, or other similar terms (but excluding the term “beneficial
holder”), shall mean any person in whose name at the time a particular Note is registered on the
Note Register.

     “Indenture” means this instrument as originally executed or, if amended or supplemented as
herein provided, as so amended or supplemented.

     “Interest Payment Date” means each June 15 and December 15 of each year, beginning on December
15, 2011.

     “Last Reported Sale Price” of the Common Stock on any date means the closing sale price per
share (or if no closing sale price is reported, the average of the bid and ask prices or, if more
than one in either case, the average of the average bid and the average ask prices) on that date as
reported in composite transactions for the principal U.S. national or regional securities exchange
on which the Common Stock is listed for trading. If the Common Stock is not listed for trading on
a U.S. national or regional securities exchange on the relevant date, the “Last Reported Sale
Price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on
the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common
Stock is not so quoted, the “Last Reported Sale Price” shall be the average of the mid-point of the
last bid and ask prices for the Common Stock on the relevant

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date from each of at least three nationally recognized independent investment banking firms
selected by the Company for this purpose.

     “Make-Whole Fundamental Change” means any transaction or event that constitutes a Fundamental
Change (as defined above) as described in clause (a) or (b) of the definition thereof (determined
after giving effect to any exceptions to or exclusions from such definition, but without regard to
the proviso in clause (b) of the definition thereof).

     “Make-Whole Fundamental Change Period” shall have the meaning specified in Section 14.03(a).

     “Market Disruption Event” means (a) a failure by the primary U.S. national or regional
securities exchange or market on which the Common Stock is listed or admitted for trading to open
for trading during its regular trading session or (b) the occurrence or existence prior to 1:00
p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one
half-hour period in the aggregate during regular trading hours of any suspension or limitation
imposed on trading (by reason of movements in price exceeding limits permitted by the relevant
stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts
relating to the Common Stock.

     “Maturity Date” means June 15, 2016.

     “Measurement Period” shall have the meaning specified in Section 14.01(b)(i).

     “Merger Event” shall have the meaning specified in Section 14.07(a).

     “Note” or “Notes” shall have the meaning specified in the first paragraph of the recitals of
this Indenture.

     “Note Register” shall have the meaning specified in Section 2.05(a).

     “Note Registrar” shall have the meaning specified in Section 2.05(a).

     “Notice of Conversion” shall have the meaning specified in Section 14.02(b).

     “Observation Period” with respect to any Note surrendered for conversion means: (i) subject to
clause (ii), if the relevant Conversion Date occurs prior to March 15, 2016, the 25 consecutive
Trading Day period beginning on, and including, the second Trading Day after such Conversion Date;
(ii) if the relevant Conversion Date occurs on or after the date of the Company’s issuance of a
Redemption Notice with respect to the Notes pursuant to Section 16.02 and prior to the relevant
Redemption Date, the 25 consecutive Trading Days beginning on, and including, the 27th Scheduled
Trading Day immediately preceding such Redemption Date; and (iii) if the relevant Conversion Date
occurs on or after March 15, 2016, the 25 consecutive Trading Days beginning on, and including, the
27th Scheduled Trading Day immediately preceding the Maturity Date.

     “Officer” means, with respect to the Company, the Chairman of the Board of Directors,
President, the Chief Executive Officer, the Treasurer, the Secretary, any Executive or Senior

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Vice President, Managing Director or any Vice President (whether or not designated by a number
or numbers or word added before or after the title “Vice President”).

     “Officers’ Certificate,” when used with respect to the Company, means a certificate that is
delivered to the Trustee and that is signed by (a) two Officers of the Company or (b) one Officer
of the Company and one of the Treasurer, any Assistant Treasurer, the Secretary, any Assistant
Secretary or the Controller of the Company. Each such certificate shall include the statements
provided for in Section 17.05 if and to the extent required by the provisions of such Section. One
of the Officers giving an Officers’ Certificate pursuant to Section 4.08 shall be the principal
executive, financial or accounting officer of the Company.

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

     “Opinion of Counsel” means an opinion in writing signed by legal counsel, who may be an
employee of or counsel to the Company or the Trustee, or other counsel acceptable to the Trustee,
that is delivered to the Trustee. Each such opinion shall include, without limitation, the
statements provided for in Section 17.05 if and to the extent required by the provisions of such
Section 17.05.

     “Optional Redemption” shall have the meaning specified in Section 16.01.

     “outstanding,” when used with reference to Notes, shall, subject to the provisions of Section
8.04, mean, as of any particular time, all Notes authenticated and delivered by the Trustee under
this Indenture, except:

     (a) Notes theretofore canceled by the Trustee or accepted by the Trustee for
cancellation;

     (b) Notes, or portions thereof, that have become due and payable and in respect of
which monies in the necessary amount shall have been deposited in trust with the Trustee or
with any Paying Agent (other than the Company) or shall have been set aside and segregated
in trust by the Company (if the Company shall act as its own Paying Agent);

     (c) Notes that have been paid pursuant to Section 2.06 or Notes in lieu of which, or in
substitution for which, other Notes shall have been authenticated and delivered pursuant to
the terms of Section 2.06 unless proof satisfactory to the Trustee is presented that any
such Notes are held by protected purchasers in due course;

     (d) Notes converted pursuant to Article 14 and required to be cancelled pursuant to
Section 2.08; and

     (e) Notes purchased by the Company pursuant to the penultimate sentence of Section
2.10.

     “Paying Agent” shall have the meaning specified in Section 4.02.

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     “Person” means an individual, a corporation, a limited liability company, an
association, a partnership, a joint venture, a joint stock company, a trust, an unincorporated
organization or a government or an agency or a political subdivision thereof.

     “Physical Notes” means permanent certificated Notes in registered form issued in denominations
of $1,000 principal amount and multiples thereof.

     “Physical Settlement” shall have the meaning specified in Section 14.02(a).

     “Predecessor Note” of any particular Note means every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purposes of this
definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a
mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Note that it replaces.

     “Prospectus” means the preliminary prospectus dated June 22, 2011, as supplemented by the
pricing term sheet filed with the Commission on June 24, 2011, relating to the offering and sale of
the Notes.

     “Publicly Traded Securities” means shares of common stock that are quoted or listed for
trading on a U.S. national securities exchange or that will be so quoted or listed when issued or
exchanged in connection with a Fundamental Change described in clause (a) or (b) of the definition
thereof.

     “Record Date” means, with respect to any dividend, distribution or other transaction or event
in which the holders of Common Stock (or other security) have the right to receive any cash,
securities or other property or in which the Common Stock (or other applicable security) is
exchanged for or converted into any combination of cash, securities or other property, the date
fixed for determination of holders of Common Stock (or other applicable security) entitled to
receive such cash, securities or other property (whether such date is fixed by the Board of
Directors, by statute, by contract or otherwise).

     “Redemption Date” shall have the meaning specified in Section 16.02(a).

     “Redemption Notice” shall have the meaning specified in Section 16.02(a).

     “Redemption Price” shall have the meaning specified in Section 16.01.

     “Reference Property” shall have the meaning specified in Section 14.07(a).

     “Regular Record Date,” with respect to any Interest Payment Date, shall mean the June 1 or
December 1 (whether or not such day is a Business Day) immediately preceding the applicable June 15
or December 15 Interest Payment Date, respectively.

     “Responsible Officer” means, when used with respect to the Trustee, any officer within the
corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who
customarily performs functions similar to those performed by the Persons who at the time

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shall be such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture.

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

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

     “Settlement Amount” has the meaning specified in Section 14.02(a)(iv).

     “Settlement Method” means, with respect to any conversion of Notes, Physical Settlement, Cash
Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company.

     “Settlement Notice” has the meaning specified in Section 14.02(a)(iii).

     “Significant Subsidiary” means a Subsidiary of the Company that meets the definition of
“significant subsidiary” in Article 1, Rule 1-02(w) of Regulation S-X under the Exchange Act. For
purposes of Article 6, the term “Significant Subsidiary” shall be deemed to include any group of
Subsidiaries of the Company that, in the aggregate, would constitute a “Significant Subsidiary” as
defined in the preceding sentence.

     “Specified Dollar Amount” means the maximum cash amount per $1,000 principal amount of Notes
to be received upon conversion as specified in the Settlement Notice related to any converted
Notes.

     “Spin-Off” shall have the meaning specified in Section 14.04(c).

     “Stock Price” shall have the meaning specified in Section 14.03(c).

     “Subsidiary” means, with respect to any Person, any corporation, association, partnership or
other business entity of which more than 50% of the total voting power of shares of Capital Stock
or other interests (including partnership interests) entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers, general partners or trustees
thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such
Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such
Person.

     “Successor Company” shall have the meaning specified in Section 11.01(a).

     “Trading Day” means a day on which (i) trading in the Common Stock generally occurs on The
NASDAQ Global Market or, if the Common Stock is not then listed on The NASDAQ Global Market, on the
principal other 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

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regional securities exchange, on the principal other market on which the Common Stock is then
traded and (ii) a Last Reported Sale Price for the Common Stock is available on such securities
exchange or market; provided that if the Common Stock (or other security for which a closing sale
price must be determined) is not so listed or traded, “Trading Day” means a Business Day; and
provided, further, that for purposes of determining amounts due upon conversion only, “Trading Day”
means a day on which (x) there is no Market Disruption Event and (y) trading in the Common Stock
generally occurs on The NASDAQ Global Market or, if the Common Stock is not then listed on The
NASDAQ Global Market, on the principal other 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
listed or admitted for trading, except that if the Common Stock is not so listed or admitted for
trading, “Trading Day” means a Business Day.

     “Trading Price” per $1,000 principal amount of Notes on any date of determination means the
average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $1.0
million principal amount of Notes at approximately 3:30 p.m., New York City time, on such
determination date from three independent U.S. nationally recognized securities dealers selected by
the Company; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation
Agent, but two such bids are obtained, then the average of the two bids shall be used, and if only
one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used.
If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $1.0 million principal
amount of Notes from any such nationally recognized securities dealer, then the Trading Price per
$1,000 principal amount of Notes will be deemed to be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the applicable Conversion Rate.

     “transfer” shall have the meaning specified in Section 2.05(c).

     “Trigger Event” shall have the meaning specified in Section 14.04(c).

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as it was in force at
the date of execution of this Indenture; provided, however, that in the event the Trust Indenture
Act of 1939 is amended after the date hereof, the term “Trust Indenture Act” shall mean, to the
extent required by such amendment, the Trust Indenture Act of 1939, as so amended.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder.

     “unit of Reference Property” shall have the meaning specified in Section 14.07(a).

     Section 1.02. References to Interest. Unless the context otherwise requires, any reference
to interest on, or in respect of, any Note in this Indenture shall be deemed to include Additional
Interest if, in such context, Additional Interest is, was or would be payable pursuant to Section
6.03. Unless the context otherwise requires, any express mention of Additional

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Interest in any provision hereof shall not be construed as excluding Additional Interest in
those provisions hereof where such express mention is not made.

ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes

     Section 2.01. Designation and Amount. The Notes shall be designated as the “3.75%
Convertible Senior Notes due 2016.” The aggregate principal amount of Notes that may be
authenticated and delivered under this Indenture is initially limited to $143,750,000, subject to
Section 2.10 and except for Notes authenticated and delivered upon registration or transfer of, or
in exchange for, or in lieu of other Notes pursuant to Section 2.05, Section 2.06, Section 10.04,
Section 14.02 and Section 15.04.

     Section 2.02. Form of Notes. The Notes and the Trustee’s certificate of authentication to be
borne by such Notes shall be substantially in the respective forms set forth in Exhibit A, the
terms and provisions of which shall constitute, and are hereby expressly incorporated in and made a
part of this Indenture. To the extent applicable, the Company and the Trustee, by their execution
and delivery of this Indenture, expressly agree to such terms and provisions and to be bound
thereby.

     Any Global Note may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Indenture as may be required by
the Custodian or the Depositary, or as may be required to comply with any applicable law or any
regulation thereunder or with the rules and regulations of any securities exchange or automated
quotation system upon which the Notes may be listed or traded or designated for issuance or to
conform with any usage with respect thereto, or to indicate any special limitations or restrictions
to which any particular Notes are subject.

     Any of the Notes may have such letters, numbers or other marks of identification and such
notations, legends or endorsements as the Officers executing the same may approve (execution
thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions
of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange or automated quotation
system on which the Notes may be listed or designated for issuance, or to conform to usage or to
indicate any special limitations or restrictions to which any particular Notes are subject.

     Each Global Note shall represent such principal amount of the outstanding Notes as shall be
specified therein and shall provide that it shall represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of
outstanding Notes represented thereby may from time to time be increased or reduced to reflect
purchases, cancellations, conversions, transfers or exchanges permitted hereby. Any endorsement of
the Global Note to reflect the amount of any increase or decrease in the amount of outstanding
Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the
Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with
this Indenture. Payment of principal (including the Fundamental Change Purchase Price, if
applicable) of, and accrued and unpaid interest on, the Global Note shall be

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made to the Holder of such Note on the date of payment, unless a record date or other means of
determining Holders eligible to receive payment is provided for herein.

     Section 2.03. Date and Denomination of Notes; Payments of Interest and Defaulted Amounts.
(a) The Notes shall be issuable in registered form without coupons in denominations of $1,000
principal amount and multiples thereof. Each Note shall be dated the date of its authentication
and shall bear interest from the date specified on the face of the form of Note attached as Exhibit
A hereto. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed
of twelve 30-day months.

     (b) The Person in whose name any Note (or its Predecessor Note) is registered on the Note
Register at the close of business on any Regular Record Date with respect to any Interest Payment
Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest
shall be payable at the office or agency of the Company maintained by the Company for such
purposes, which shall initially be the Corporate Trust Office. The Company shall pay interest (i)
on any Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of
$2,000,000 or less, by check mailed to the Holders of these Notes at their address as it appears in
the Note Register and (B) to Holders holding Physical Notes having an aggregate principal amount of
more than $2,000,000, either by check mailed to such Holders or, upon application by such Holder to
the Note Registrar not later than the relevant Regular Record Date, by wire transfer in immediately
available funds to that Holder’s account within the United States, which application shall remain
in effect until the Holder notifies, in writing, the Note Registrar to the contrary or (ii) on any
Global Note by wire transfer of immediately available funds to the account of the Depositary or its
nominee.

     (c) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the
relevant payment date but shall accrue interest per annum at the rate borne by the Notes from, and
including, such relevant payment date, and such Defaulted Amounts together with such interest
thereon shall be paid by the Company, at its election in each case, as follows:

The Company may elect to make payment of any Defaulted Amounts to the Persons in whose names
the Notes (or their respective Predecessor Notes) are registered at the close of business on
a special record date for the payment of such Defaulted Amounts, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount of the
Defaulted Amounts proposed to be paid on each Note and the date of the proposed payment
(which shall be not less than 25 days after the receipt by the Trustee of such notice,
unless the Trustee shall consent to an earlier date), and at the same time the Company shall
deposit with the Trustee an amount of money equal to the aggregate amount to be paid in
respect of such Defaulted Amounts or shall make arrangements satisfactory to the Trustee for
such deposit on or prior to the date of the proposed payment, such money when deposited to
be held in trust for the benefit of the Persons entitled to such Defaulted Amounts as in
this clause provided. Thereupon the Company shall fix a special record date for the payment
of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days
prior to the date of the proposed payment, and not less than 10 days after the receipt by
the Trustee of the notice of the proposed payment (unless the Trustee shall consent to an
earlier date). The Company shall promptly notify the Trustee of such special record date
and the Trustee, in

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the name and at the expense of the Company, shall cause notice of the proposed payment of
such Defaulted Amounts and the special record date therefor to be mailed, first-class
postage prepaid, to each Holder at its address as it appears in the Note Register, not less
than 10 days prior to such special record date. Notice of the proposed payment of such
Defaulted Amounts and the special record date therefor having been so mailed, such Defaulted
Amounts shall be paid to the Persons in whose names the Notes (or their respective
Predecessor Notes) are registered at the close of business on such special record date and
shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c).

     Section 2.04. Execution, Authentication and Delivery of Notes. The Notes shall be signed in
the name and on behalf of the Company by the manual or facsimile signature of its Chief Executive
Officer, President, Chief Financial Officer, Treasurer, Secretary or any of its Executive or Senior
Vice Presidents.

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Notes executed by the Company to the Trustee for authentication, together with
a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance
with such Company Order shall authenticate and deliver such Notes, without any further action by
the Company hereunder.

     Only such Notes as shall bear thereon a certificate of authentication substantially in the
form set forth on the form of Note attached as Exhibit A hereto, executed manually by an authorized
signatory of the Trustee (or an authenticating agent appointed by the Trustee as provided by
Section 17.10), shall be entitled to the benefits of this Indenture or be valid or obligatory for
any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any Note
executed by the Company shall be conclusive evidence that the Note so authenticated has been duly
authenticated and delivered hereunder and that the Holder is entitled to the benefits of this
Indenture.

     In case any Officer of the Company who shall have signed any of the Notes shall cease to be
such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee,
or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or
disposed of as though the Person who signed such Notes had not ceased to be such Officer of the
Company; and any Note may be signed on behalf of the Company by such persons as, at the actual date
of the execution of such Note, shall be the Officers of the Company, although at the date of the
execution of this Indenture any such Person was not such an Officer.

     Section 2.05. Exchange and Registration of Transfer of Notes; Depositary. (a) The Company
shall cause to be kept at the office of the Note Registrar and the Note Registrar agrees to keep a
register (the register maintained in such office or in any other office or agency of the Company
designated pursuant to Section 4.02, the “Note Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Notes and
transfers of Notes. Such register shall be in written form or in any form capable of being
converted into written form within a reasonable period of time. The Trustee is hereby initially
appointed the “Note Registrar” for the purpose of registering Notes and transfers of

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Notes as herein provided. The Company may appoint one or more co-Note Registrars in
accordance with Section 4.02.

     Upon surrender for registration of transfer of any Note to the Note Registrar or any co-Note
Registrar, and satisfaction of the requirements for such transfer set forth in this Section 2.05,
the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Notes of any authorized denominations and of
a like aggregate principal amount and bearing such restrictive legends as may be required by this
Indenture.

     Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate
principal amount, upon surrender of the Notes to be exchanged at any such office or agency
maintained by the Company pursuant to Section 4.02. Whenever any Notes are so surrendered for
exchange, the Company shall execute, and the Trustee shall, upon Company Order, authenticate and
deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration
numbers not contemporaneously outstanding.

     All Notes presented or surrendered for registration of transfer or for exchange, purchase or
conversion shall (if so required by the Company, the Trustee, the Note Registrar or any co-Note
Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer
in form satisfactory to the Company and duly executed, by the Holder thereof or its
attorney-in-fact duly authorized in writing.

     No service charge shall be imposed by the Company, the Trustee, the Note Registrar or any
co-Note Registrar for any exchange or registration of transfer of Notes, but the Company or the
Trustee may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar
issue or transfer tax required by law or permitted pursuant to Section 14.02(d) or Section
14.02(e).

     None of the Company, the Trustee, the Note Registrar or any co-Note Registrar shall be
required to exchange or register a transfer of (i) any Notes surrendered for conversion or, if a
portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion,
(ii) any Notes, or a portion of any Note, surrendered for purchase (and not withdrawn) in
accordance with Article 15 or (iii) any Notes selected for redemption in accordance with Article
16.

     All Notes issued upon any registration of transfer or exchange of Notes in accordance with
this Indenture shall be the valid obligations of the Company, evidencing the same debt, and
entitled to the same benefits under this Indenture as the Notes surrendered upon such registration
of transfer or exchange.

     (b) So long as the Notes are eligible for book-entry settlement with the Depositary,
unless otherwise required by law, subject to the fourth paragraph from the end of Section 2.05(c)
all Notes shall be represented by one or more Notes in global form (each, a “Global Note”)
registered in the name of the Depositary or the nominee of the Depositary. The transfer and
exchange of beneficial interests in a Global Note that does not involve the issuance of a Physical
Note, shall be effected through the Depositary (but not the Trustee or the Custodian) in

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accordance with this Indenture (including the restrictions on transfer set forth herein) and
the procedures of the Depositary therefor.

     (c) Notwithstanding any other provisions of this Indenture (other than the provisions set
forth in this Section 2.05(c)), a Global Note may not be transferred as a whole or in part except
(i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary and (ii) for transfers of portions
of a Global Note in certificated form made upon request of a member of, or a participant in, the
Depositary (for itself or on behalf of a beneficial owner) by written notice given to the Trustee
by or on behalf of the Depositary in accordance with customary procedures of the Depositary and in
compliance with this Section 2.05(c).

     The Depositary shall be a clearing agency registered under the Exchange Act. The Company
initially appoints The Depository Trust Company to act as Depositary with respect to each Global
Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of
Cede & Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for Cede
& Co.

     If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or
unable to continue as depositary for the Global Notes and a successor depositary is not appointed
within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange
Act and a successor depositary is not appointed within 90 days or (iii) an Event of Default with
respect to the Notes has occurred and is continuing and a beneficial owner of any Note requests
that its beneficial interest therein be issued as a Physical Note, the Company shall execute, and
the Trustee, upon receipt of an Officers’ Certificate and a Company Order for the authentication
and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical
Note to such beneficial owner in a principal amount equal to the principal amount of such Note
corresponding to such beneficial owner’s beneficial interest and (y) in the case of clause (i) or
(ii), Physical Notes to each beneficial owner of the related Global Notes (or a portion thereof) in
an aggregate principal amount equal to the aggregate principal amount of such Global Notes in
exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global
Notes shall be canceled.

     Physical Notes issued in exchange for all or a part of the Global Note pursuant to this
Section 2.05(c) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee in writing. Upon execution and authentication, the Trustee shall deliver such
Physical Notes to the Persons in whose names such Physical Notes are so registered.

     At such time as all interests in a Global Note have been converted, canceled, purchased or
transferred, such Global Note shall be, upon receipt thereof, canceled by the Trustee in accordance
with standing procedures and existing instructions between the Depositary and the Custodian. At
any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical
Notes, converted, canceled, purchased or transferred to a transferee who receives Physical Notes
therefor or any Physical Note is exchanged or transferred for part of such Global Note, the
principal amount of such Global Note shall, in accordance with the standing procedures

16

 

and instructions existing between the Depositary and the Custodian, be appropriately reduced
or increased, as the case may be, and an endorsement shall be made on such Global Note, by the
Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction or increase.

     Neither the Company, the Trustee nor any agent of the Company or the Trustee shall have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any
records relating to such beneficial ownership interests.

     Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become
mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon
receipt of a Company Order request the Trustee or an authenticating agent appointed by the Trustee
shall authenticate and deliver, a new Note, bearing a registration number not contemporaneously
outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution
for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note
shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such
security or indemnity as may be required by them to save each of them harmless from any loss,
liability, cost or expense caused by or connected with such substitution, and, in every case of
destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if
applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or
theft of such Note and of the ownership thereof.

     The Trustee or such authenticating agent may authenticate any such substituted Note and
deliver the same upon the receipt of such security or indemnity as the Trustee, the Company and, if
applicable, such authenticating agent may require. Upon the issuance of any substitute Note, the
Company or the Trustee may require the payment by the Holder of a sum sufficient to cover any tax,
assessment or other governmental charge that may be imposed in relation thereto and any other
expenses connected therewith. In case any Note that has matured or is about to mature or has been
surrendered for required purchase or is about to be converted in accordance with Article 14 shall
become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead
of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
conversion of the same (without surrender thereof except in the case of a mutilated Note), as the
case may be, if the applicant for such payment or conversion shall furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent such security or indemnity as may be
required by them to save each of them harmless for any loss, liability, cost or expense caused by
or connected with such substitution, and, in every case of destruction, loss or theft, evidence
satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent
evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof.

     Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of the
fact that any Note is destroyed, lost or stolen shall constitute an additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any
time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set
forth in) this Indenture equally and proportionately with any and all other Notes duly issued
hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment

17

 

or conversion or purchase of mutilated, destroyed, lost or stolen Notes and shall preclude any
and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted
to the contrary with respect to the replacement or payment or conversion of negotiable instruments
or other securities without their surrender.

     Section 2.07. Temporary Notes. Pending the preparation of Physical Notes, the Company may
execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon receipt of
a Company Order, authenticate and deliver temporary Notes (printed or lithographed). Temporary
Notes shall be issuable in any authorized denomination, and substantially in the form of the
Physical Notes but with such omissions, insertions and variations as may be appropriate for
temporary Notes, all as may be determined by the Company. Every such temporary Note shall be
executed by the Company and authenticated by the Trustee or such authenticating agent upon the same
conditions and in substantially the same manner, and with the same effect, as the Physical Notes.
Without unreasonable delay, the Company shall execute and deliver to the Trustee or such
authenticating agent Physical Notes (other than any Global Note) and thereupon any or all temporary
Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or
agency maintained by the Company pursuant to Section 4.02 and the Trustee or such authenticating
agent, upon Company Order, shall authenticate and deliver in exchange for such temporary Notes an
equal aggregate principal amount of Physical Notes. Such exchange shall be made by the Company at
its own expense and without any charge therefor. Until so exchanged, the temporary Notes shall in
all respects be entitled to the same benefits and subject to the same limitations under this
Indenture as Physical Notes authenticated and delivered hereunder.

     Section 2.08. Cancellation of Notes Paid, Converted, Etc. The Company shall cause all Notes
surrendered for the purpose of payment, purchase, redemption, registration of transfer or exchange
or conversion, if surrendered to any Person other than the Trustee that the Company controls, to be
surrendered to the Trustee for cancellation. All Notes delivered to the Trustee shall be canceled
promptly by it, and no Notes shall be authenticated in exchange thereof except as expressly
permitted by any of the provisions of this Indenture. The Trustee shall cancel such Notes in
accordance with its customary procedures and, after such cancellation, shall deliver a certificate
of such cancellation to the Company, at the Company’s written request in a Company Order. If the
Company or any of its Subsidiaries shall acquire any of the Notes, such acquisition shall not
operate as a redemption, purchase or satisfaction of the indebtedness represented by such Notes
unless and until the same are delivered to the Trustee for cancellation.

     Section 2.09. CUSIP Numbers. The Company in issuing the Notes may use “CUSIP” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in all notices issued to
Holders as a convenience to such Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or on
such notice and that reliance may be placed only on the other identification numbers printed on the
Notes. The Company shall promptly notify the Trustee in writing of any change in the “CUSIP”
numbers.

     Section 2.10. Additional Notes; Purchases. The Company may, without the consent of the
Holders and notwithstanding Section 2.01, reopen this Indenture and issue additional Notes
hereunder with the same terms and with the same CUSIP number as the Notes initially issued

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hereunder in an unlimited aggregate principal amount; provided that if any such additional
Notes are not fungible with the Notes initially issued hereunder for U.S. federal income tax
purposes, such additional Notes will have a separate CUSIP number. Prior to the issuance of any
such additional Notes, the Company shall deliver to the Trustee a Company Order, an Officers’
Certificate and an Opinion of Counsel, such Officers’ Certificate and Opinion of Counsel to cover
such matters, in addition to the due authorization, execution, delivery, validity and
enforceability of such Additional Notes and those required by Section 17.05, as the Trustee shall
reasonably request. In addition, the Company may, to the extent permitted by law, and directly or
indirectly (regardless of whether such Notes are surrendered to the Company), purchase Notes in the
open market or otherwise, whether by the Company or its Subsidiaries or through a private or public
tender or exchange offer or through counterparties to private agreements, including by cash-settled
swaps or other derivatives. The Company shall cause any Notes so purchased (other than Notes
purchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for
cancellation in accordance with Section 2.08.

ARTICLE 3

Satisfaction and Discharge

     Section 3.01. Satisfaction and Discharge. This Indenture shall upon request of the Company
contained in an Officers’ Certificate cease to be of further effect, and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when (a) (i) all Notes theretofore authenticated and delivered (other than (x)
Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 2.06 and (y) Notes for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Company and thereafter repaid to the Company or discharged from
such trust, as provided in Section 4.04(d)) have been delivered to the Trustee for cancellation; or
(ii) the Company has deposited with the Trustee or delivered to Holders, as applicable, after the
Notes have become due and payable, whether at the Maturity Date, any Fundamental Change Purchase
Date, upon conversion or otherwise, cash or cash, shares of Common Stock or a combination thereof,
as applicable, solely to satisfy the Company’s Conversion Obligation, sufficient to pay all of the
outstanding Notes and all other sums due and payable under this Indenture by the Company; and (b)
the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and
discharge of this Indenture have been complied with. Notwithstanding the satisfaction and
discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.06 shall
survive.

ARTICLE 4

Particular Covenants of the Company

     Section 4.01. Payment of Principal and Interest. The Company covenants and agrees that it
will cause to be paid the principal (including the Fundamental Change Purchase Price, if
applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the
respective times and in the manner provided herein and in the Notes.

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     Section 4.02. Maintenance of Office or Agency. The Company will maintain in a State of the
United States of America or the District of Columbia, an office or agency where the Notes may be
surrendered for registration of transfer or exchange or for presentation for payment or purchase
(“Paying Agent”) or for conversion (“Conversion Agent”) and where notices and demands to or upon
the Company in respect of the Notes and this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Company shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the Corporate Trust Office or the office or agency of the
Trustee.

     The Company may also from time to time designate as co-Note Registrars one or more other
offices or agencies where the Notes may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in any State of the United States of America of the District of Columbia for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or agency. The terms “Paying Agent” and
“Conversion Agent” include any such additional or other offices or agencies, as applicable.

     The Company hereby initially designates the Trustee as the Paying Agent, Note Registrar and
Conversion Agent and the Corporate Trust Office shall be considered as one such office or agency of
the Company for each of the aforesaid purposes.

     Section 4.03. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided
in Section 7.09, a Trustee, so that there shall at all times be a Trustee hereunder.

     Section 4.04. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent
other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions
of this Section 4.04:

     (i) that it will hold all sums held by it as such agent for the payment of the
principal (including the Fundamental Change Purchase Price, if applicable) of, and accrued
and unpaid interest on, the Notes in trust for the benefit of the Holders of the Notes;

     (ii) that it will give the Trustee prompt notice of any failure by the Company to
make any payment of the principal (including the Fundamental Change Purchase Price, if
applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due and
payable; and

     (iii) that at any time during the continuance of an Event of Default, upon request
of the Trustee, it will forthwith pay to the Trustee all sums so held in trust.

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     The Company shall, on or before each due date of the principal (including the Fundamental
Change Purchase Price, if applicable) of, or accrued and unpaid interest on, the Notes, deposit
with the Paying Agent a sum sufficient to pay such principal (including the Fundamental Change
Purchase Price, if applicable) or accrued and unpaid interest, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of any failure to take such action; provided
that if such deposit is made on the due date, such deposit must be received by the Paying Agent by
11:00 a.m., New York City time, on such date.

     (b) If the Company shall act as its own Paying Agent, it will, on or before each due date
of the principal (including the Fundamental Change Purchase Price, if applicable) of, and accrued
and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of the
Holders of the Notes a sum sufficient to pay such principal (including the Fundamental Change
Purchase Price, if applicable) and accrued and unpaid interest so becoming due and will promptly
notify the Trustee in writing of any failure to take such action and of any failure by the Company
to make any payment of the principal (including the Fundamental Change Purchase Price, if
applicable) of, or accrued and unpaid interest on, the Notes when the same shall become due and
payable.

     (c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the
Company or any Paying Agent hereunder as required by this Section 4.04, such sums or amounts to be
held by the Trustee upon the trusts herein contained and upon such payment or delivery by the
Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from
all further liability but only with respect to such sums or amounts.

     (d) Any money and shares of Common Stock deposited with the Trustee or any Paying Agent,
or then held by the Company, in trust for the payment of the principal (including the Fundamental
Change Purchase Price, if applicable) of, and accrued and unpaid interest on, any Note and
remaining unclaimed for two years after such principal (including the Fundamental Change Purchase
Price, if applicable) or interest has become due and payable shall be paid to the Company on
request of the Company contained in an Officers’ Certificate, or (if then held by the Company)
shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money and shares of Common Stock, and all liability of
the Company as trustee thereof, shall thereupon cease.

     Section 4.05. Existence. Subject to Article 11, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate existence.

     Section 4.06. Annual Reports. (a) The Company shall file with the Trustee within 15 days
after the same are required to be filed with the Commission, copies of any documents or reports
that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the
Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act).
Any such document or report that the Company files with the Commission via the Commission’s EDGAR
system shall be deemed to be filed with the Trustee for purposes of this Section 4.06(a) at the
time such documents are filed via the EDGAR system; provided,

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however, that the Trustee shall have no obligation to determine whether or not such
information, documents or reports have been filed pursuant to the “EDGAR” system (or any
successor).

     (b) Delivery of the reports and documents described in subsection (a) above to the Trustee
is for informational purposes only, and the Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to conclusively rely on an Officers’ Certificate).

     Section 4.07. Stay, Extension and Usury Laws. The Company covenants (to the extent that it
may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law or other law that would
prohibit or forgive the Company from paying all or any portion of the principal of or interest on
the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that
may affect the covenants or the performance of this Indenture; and the Company (to the extent it
may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants
that it will not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted.

     Section 4.08. Compliance Certificate; Statements as to Defaults. The Company shall deliver
to the Trustee within 120 days after the end of each fiscal year of the Company (beginning with the
fiscal year ending on December 31, 2011) an Officers’ Certificate stating whether or not the
signers thereof have knowledge of any failure by the Company to comply with all conditions and
covenants then required to be performed under this Indenture and, if so, specifying each such
failure and the nature thereof.

     In addition, the Company shall deliver to the Trustee, as soon as possible, and in any event
within 30 days after the Company becomes aware of the occurrence of any Event of Default or Default
that is continuing, an Officers’ Certificate setting forth the details of such Event of Default or
Default, its status and the action that the Company proposes to take with respect thereto.

     Section 4.09. Further Instruments and Acts. Upon request of the Trustee, the Company will
execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purposes of this Indenture.

ARTICLE 5

Lists of Holders and Reports by the Company and the Trustee

     Section 5.01. Lists of Holders. The Company covenants and agrees that it will furnish or
cause to be furnished to the Trustee, semi-annually, not more than 5 days after each June 1 and
December 1 in each year beginning with December 1, 2011, and at such other times as the Trustee may
request in writing, within 10 days after receipt by the Company of any such request (or such lesser
time as the Trustee may reasonably request in order to enable it to timely provide any notice to be
provided by it hereunder), a list in such form as the Trustee may reasonably require of the names
and addresses of the Holders as of a date not more than 15 days (or such

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other date as the Trustee may reasonably request in order to so provide any such notices)
prior to the time such information is furnished, except that no such list need be furnished so long
as the Trustee is acting as Note Registrar.

     Section 5.02. Preservation and Disclosure of Lists. The Trustee shall preserve, in as
current a form as is reasonably practicable, all information as to the names and addresses of the
Holders contained in the most recent list furnished to it as provided in Section 5.01 or maintained
by the Trustee in its capacity as Note Registrar, if so acting. The Trustee may destroy any list
furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

ARTICLE 6

Defaults and Remedies

     Section 6.01. Events of Default. The following events shall be “Events of Default” with
respect to the Notes:

     (a) default in any payment of interest on any Note when due and payable, and the default
continues for a period of 30 days;

     (b) default in the payment of principal of any Note when due and payable on the Maturity
Date, upon Optional Redemption, upon any required purchase, upon declaration of acceleration or
otherwise;

     (c) failure by the Company to comply with its obligation to convert the Notes in
accordance with this Indenture upon exercise of a Holder’s conversion right, and such failure
continues for a period of 5 calendar days;

     (d) failure by the Company to issue a Fundamental Change Company Notice in accordance with
Section 15.02(c) or notice of a specified corporate event in accordance with Section 14.01(b)(ii),
in each case when due;

     (e) failure by the Company to comply with its obligations under Article 11;

     (f) failure by the Company for 60 days after written notice from the Trustee or the
Holders of at least 25% in principal amount of the Notes then outstanding (a copy of which notice,
if given by holders, also to be given to the Trustee) has been received by the Company to comply
with any of its other agreements contained in the Notes or this Indenture;

     (g) default by the Company or any Subsidiary of the Company in the payment of the
principal or interest on any mortgage, agreement or other instrument under which there may be
outstanding, or by which there may be secured or evidenced, any debt for money borrowed in excess
of $25 million in the aggregate of the Company and/or any such Subsidiary, whether such debt now
exists or shall hereafter be created, resulting in such debt becoming or being declared due and
payable, and such acceleration shall not have been rescinded or annulled within thirty days after
written notice to the Company by the Trustee or to the Company and the Trustee by the Holders of at
least 25% in principal amount of the Notes then outstanding;

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     (h) a final judgment for the payment of $25 million or more (excluding any amounts covered
by insurance) rendered against the Company or any Subsidiary of the Company, which judgment is not
discharged or stayed within 30 days after (i) the date on which the right to appeal thereof has
expired if no such appeal has commenced, or (ii) the date on which all rights to appeal have been
extinguished;

     (i) the Company or any Significant Subsidiary shall commence a voluntary case or other
proceeding seeking liquidation, reorganization or other relief with respect to the Company or any
such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now
or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or
other similar official of the Company or any such Significant Subsidiary or any substantial part of
its property, or shall consent to any such relief or to the appointment of or taking possession by
any such official in an involuntary case or other proceeding commenced against it, or shall make a
general assignment for the benefit of creditors; or

     (j) an involuntary case or other proceeding shall be commenced against the Company or any
Significant Subsidiary seeking liquidation, reorganization or other relief with respect to the
Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or seeking the appointment of a trustee, receiver,
liquidator, custodian or other similar official of the Company or such Significant Subsidiary or
any substantial part of its property, and such involuntary case or other proceeding shall remain
undismissed and unstayed for a period of 30 consecutive days.

     Section 6.02. Acceleration; Rescission and Annulment. In case one or more Events of Default
shall have occurred and be continuing (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental
body), then, and in each and every such case (other than an Event of Default specified in Section
6.01(i) or Section 6.01(j) with respect to the Company (but not with respect to any of its
Significant Subsidiaries)), unless the principal of all of the Notes shall have already become due
and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding determined in accordance with Section 8.04, by notice in writing to the
Company (and to the Trustee if given by Holders), may declare 100% of the principal of, and accrued
and unpaid interest on, all the Notes to be due and payable immediately, and upon any such
declaration the same shall become and shall automatically be immediately due and payable, anything
in this Indenture or in the Notes contained to the contrary notwithstanding. If an Event of
Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company (but not with
respect to any of its Significant Subsidiaries) occurs and is continuing, 100% of the principal of,
and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be
immediately due and payable.

     The immediately preceding paragraph, however, is subject to the conditions that if, at any
time after the principal of the Notes shall have been so declared due and payable, and before any
judgment or decree for the payment of the monies due shall have been obtained or entered as
hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to
pay installments of accrued and unpaid interest upon all Notes and the principal of any and all
Notes that shall have become due otherwise than by acceleration (with interest on overdue

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installments of accrued and unpaid interest, and on such principal at the rate borne by the
Notes at such time) and amounts due to the Trustee pursuant to Section 7.06, and if (1) rescission
would not conflict with any judgment or decree of a court of competent jurisdiction and (2) any and
all existing Events of Default under this Indenture, other than the nonpayment of the principal of
and accrued and unpaid interest, if any, on Notes that shall have become due solely by such
acceleration, shall have been cured or waived pursuant to Section 6.09, then and in every such case
(except as provided in the immediately succeeding sentence) the Holders of a majority in aggregate
principal amount of the Notes then outstanding, by written notice to the Company and to the
Trustee, may waive all Defaults or Events of Default with respect to the Notes and rescind and
annul such declaration and its consequences and such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture;
but no such waiver or rescission and annulment shall extend to or shall affect any subsequent
Default or Event of Default, or shall impair any right consequent thereon. Notwithstanding
anything to the contrary herein, no such waiver or rescission and annulment shall extend to or
shall affect any Default or Event of Default resulting from (i) the nonpayment of the principal of,
or accrued and unpaid interest on, any Notes, (ii) a failure to purchase any Notes when required or
(iii) a failure to pay or deliver, as the case may be, the consideration due upon conversion of the
Notes.

     Section 6.03. Additional Interest. Notwithstanding anything in this Indenture or in the
Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default
relating to the Company’s failure to comply with its obligations as set forth in Section 4.06
shall, for the first 360 days after the occurrence of such an Event of Default, consist exclusively
of the right to receive Additional Interest on the Notes at a rate equal to 0.25% per annum of the
principal amount of the Notes outstanding for each day during the first 180 days after the
occurrence of such Event of Default and 0.50% per annum of the principal amount of the Notes
outstanding from the 181st day until the 360th day following the occurrence of such an Event of
Default during which such Event of Default is continuing beginning on, and including, the date on
which such an Event of Default first occurs. If the Company so elects, such Additional Interest
shall be payable in the same manner and on the same dates as regular interest on the Notes. On the
361st day after such Event of Default (if the Event of Default relating to the Company’s failure to
file is not cured or waived prior to such 361st day), the Notes will be subject to acceleration as
provided in Section 6.02. In the event the Company does not elect to pay Additional Interest
following an Event of Default in accordance with this Section 6.03, or the Company elects to make
such payment but does not pay the Additional Interest when due, the Notes shall be subject to
acceleration as provided in Section 6.02.

     In order to elect to pay Additional Interest as the sole remedy during the first 360 days
after the occurrence of any Event of Default described in the immediately preceding paragraph, the
Company must notify all Holders of the Notes, the Trustee and the Paying Agent in writing of such
election prior to the beginning of such 360-day period. Upon the failure to timely give such
notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

     Section 6.04. Payments of Notes on Default; Suit Therefor. If an Event of Default described
in clause (a) or (b) of Section 6.01 shall have occurred, the Company shall, upon demand of the
Trustee, pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due
and payable on the Notes for principal and interest, if any, with interest on any

25

 

overdue principal and interest, if any, at the rate borne by the Notes at such time and, in
addition thereto, such further amount as shall be sufficient to cover any amounts due to the
Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith upon such
demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial
proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to
judgment or final decree and may enforce the same against the Company or any other obligor upon the
Notes and collect the monies adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon the Notes, wherever situated.

     In the event there shall be pending proceedings for the bankruptcy or for the reorganization
of the Company or any other obligor on the Notes under title 11 of the United States Code, or any
other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or taken possession of
the Company or such other obligor, the property of the Company or such other obligor, or in the
event of any other judicial proceedings relative to the Company or such other obligor upon the
Notes, or to the creditors or property of the Company or such other obligor, the Trustee,
irrespective of whether the principal of the Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole
amount of principal and accrued and unpaid interest, if any, in respect of the Notes, and, in case
of any judicial proceedings, to file such proofs of claim and other papers or documents and to take
such other actions as it may deem necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative
to the Company or any other obligor on the Notes, its or their creditors, or its or their property,
and to collect and receive any monies or other property payable or deliverable on any such claims,
and to distribute the same after the deduction of any amounts due to the Trustee under Section
7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian
or similar official is hereby authorized by each of the Holders to make such payments to the
Trustee, as administrative expenses, and, in the event that the Trustee shall consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable
compensation, expenses, advances and disbursements, including agents and counsel fees, and
including any other amounts due to the Trustee under Section 7.06, incurred by it up to the date of
such distribution. To the extent that such payment of reasonable compensation, expenses, advances
and disbursements out of the estate in any such proceedings shall be denied for any reason, payment
of the same shall be secured by a lien on, and shall be paid out of, any and all distributions,
dividends, monies, securities and other property that the Holders of the Notes may be entitled to
receive in such proceedings, whether in liquidation or under any plan of reorganization or
arrangement or otherwise.

     Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding.

26

 

     All rights of action and of asserting claims under this Indenture, or under any of the Notes,
may be enforced by the Trustee without the possession of any of the Notes, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the Holders of the Notes.

     In any proceedings brought by the Trustee (and in any proceedings involving the interpretation
of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held
to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the
Notes parties to any such proceedings.

     In case the Trustee shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned because of any waiver pursuant to Section
6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have
been determined adversely to the Trustee, then and in every such case the Company, the Holders, and
the Trustee shall, subject to any determination in such proceeding, be restored respectively to
their several positions and rights hereunder, and all rights, remedies and powers of the Company,
the Holders, and the Trustee shall continue as though no such proceeding had been instituted.

     Section 6.05. Application of Monies Collected by Trustee. Any monies collected by the
Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the order
following, at the date or dates fixed by the Trustee for the distribution of such monies, upon
presentation of the several Notes, and stamping thereon the payment, if only partially paid, and
upon surrender thereof, if fully paid:

     First, to the payment of all amounts due the Trustee under Section 7.06;

     Second, in case the principal of the outstanding Notes shall not have become due and be
unpaid, to the payment of interest on, and any cash due upon conversion of, the Notes in default in
the order of the date due of the payments of such interest and cash due upon conversion, as the
case may be, with interest (to the extent that such interest has been collected by the Trustee)
upon such overdue payments at the rate borne by the Notes at such time, such payments to be made
ratably to the Persons entitled thereto;

     Third, in case the principal of the outstanding Notes shall have become due, by declaration or
otherwise, and be unpaid to the payment of the whole amount (including, if applicable, the payment
of the Fundamental Change Purchase Price and any cash due upon conversion) then owing and unpaid
upon the Notes for principal and interest, if any, with interest on the overdue principal and, to
the extent that such interest has been collected by the Trustee, upon overdue installments of
interest at the rate borne by the Notes at such time, and in case such monies shall be insufficient
to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such
principal (including, if applicable, the Fundamental Change Purchase Price and the cash due upon
conversion) and interest without preference or priority of principal over interest, or of interest
over principal or of any installment of interest over any

27

 

other installment of interest, or of any Note over any other Note, ratably to the aggregate of
such principal (including, if applicable, the Fundamental Change Purchase Price and any cash due
upon conversion) and accrued and unpaid interest; and

     Fourth, to the payment of the remainder, if any, to the Company.

     Section 6.06. Proceedings by Holders. Except to enforce the right to receive payment of
principal (including, if applicable, the Fundamental Change Purchase Price) or interest when due,
or the right to receive payment or delivery of the consideration due upon conversion, no Holder of
any Note shall have any right by virtue of or by availing of any provision of this Indenture to
institute any suit, action or proceeding in equity or at law upon or under or with respect to this
Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar
official, or for any other remedy hereunder, unless:

     (a) such Holder previously shall have given to the Trustee written notice of an Event of
Default and of the continuance thereof, as herein provided;

     (b) Holders of at least 25% in aggregate principal amount of the Notes then outstanding
shall have made written request upon the Trustee to institute such action, suit or proceeding in
its own name as Trustee hereunder;

     (c) such Holders shall have offered to the Trustee such security or indemnity satisfactory
to it against any loss, liability or expense to be incurred therein or thereby;

     (d) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and

     (e) no direction that, in the opinion of the Trustee, is inconsistent with such written
request shall have been given to the Trustee by the Holders of a majority of the aggregate
principal amount of the Notes then outstanding within such 60-day period pursuant to Section 6.09,
it being understood and intended, and being expressly covenanted by the taker and Holder of every
Note with every other taker and Holder and the Trustee that no one or more Holders shall have any
right in any manner whatever by virtue of or by availing of any provision of this Indenture to
affect, disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all Holders,
except as otherwise provided herein (it being understood that the Trustee does not have an
affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to
such Holders). For the protection and enforcement of this Section 6.06, each and every Holder and
the Trustee shall be entitled to such relief as can be given either at law or in equity.

     Notwithstanding any other provision of this Indenture and any provision of any Note, the right
of any Holder to receive payment or delivery, as the case may be, of (x) the principal (including
the Fundamental Change Purchase Price, if applicable) of, (y) accrued and unpaid interest, if any,
on, and (z) the consideration due upon conversion of, such Note, on or after the

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respective due dates expressed or provided for in such Note or in this Indenture, or to
institute suit for the enforcement of any such payment or delivery, as the case may be, on or after
such respective dates against the Company shall not be impaired or affected without the consent of
such Holder.

     Section 6.07. Proceedings by Trustee. In case of an Event of Default the Trustee may in its
discretion proceed to protect and enforce the rights vested in it by this Indenture by such
appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either
by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the
specific enforcement of any covenant or agreement contained in this Indenture or in aid of the
exercise of any power granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law.

     Section 6.08. Remedies Cumulative and Continuing. Except as provided in the last paragraph
of Section 2.06, all powers and remedies given by this Article 6 to the Trustee or to the Holders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of
any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants and agreements
contained in this Indenture, and no delay or omission of the Trustee or of any Holder of any of the
Notes to exercise any right or power accruing upon any Default or Event of Default shall impair any
such right or power, or shall be construed to be a waiver of any such Default or Event of Default
or any acquiescence therein; and, subject to the provisions of Section 6.06, every power and remedy
given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to
time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

     Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders. The
Holders of a majority of the aggregate principal amount of the Notes at the time outstanding
determined in accordance with Section 8.04 shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee or exercising any trust
or power conferred on the Trustee with respect to Notes; provided, however, that (a) such direction
shall not be in conflict with any rule of law or with this Indenture, and (b) the Trustee may take
any other action deemed proper by the Trustee that is not inconsistent with such direction. The
Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights
of any other Holder or that would involve the Trustee in personal liability. The Holders of a
majority in aggregate principal amount of the Notes at the time outstanding determined in
accordance with Section 8.04 may on behalf of the Holders of all of the Notes waive any past
Default or Event of Default hereunder and its consequences except (i) a default in the payment of
accrued and unpaid interest, if any, on, or the principal (including any Fundamental Change
Purchase Price) of, the Notes when due that has not been cured pursuant to the provisions of
Section 6.01, (ii) a failure by the Company to deliver the consideration due upon conversion of the
Notes or (iii) a default in respect of a covenant or provision hereof which under Article 10 cannot
be modified or amended without the consent of each Holder of an outstanding Note affected. Upon
any such waiver the Company, the Trustee and the Holders of the Notes shall be restored to their
former positions and rights hereunder; but no such waiver shall extend to any subsequent or other
Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event
of Default hereunder shall have been

29

 

waived as permitted by this Section 6.09, said Default or Event of Default shall for all
purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but
no such waiver shall extend to any subsequent or other Default or Event of Default or impair any
right consequent thereon.

     Section 6.10. Notice of Defaults. The Trustee shall, within 90 days after the occurrence and
continuance of a Default of which a Responsible Officer has actual knowledge, send to all Holders
as the names and addresses of such Holders appear upon the Note Register, notice of all Defaults
known to a Responsible Officer, unless such Defaults shall have been cured or waived before the
giving of such notice; provided that, except in the case of a Default in the payment of the
principal of (including the Fundamental Change Purchase Price, if applicable), or accrued and
unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration
due upon conversion, the Trustee shall be protected in withholding such notice if and so long as it
in good faith determines that the withholding of such notice is in the interests of the Holders.

     Section 6.11. Undertaking to Pay Costs. All parties to this Indenture agree, and each Holder
of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in its
discretion, require, in any suit for the enforcement of any right or remedy under this Indenture,
or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by
any party litigant in such suit of an undertaking to pay the costs of such suit and that such court
may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; provided that the provisions of this Section 6.11
(to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit
instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal
amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any
suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and
unpaid interest, if any, on any Note (including, but not limited to, the Fundamental Change
Purchase Price with respect to the Notes being purchased as provided in this Indenture) on or after
the due date expressed or provided for in such Note or to any suit for the enforcement of the right
to convert any Note in accordance with the provisions of Article 14.

ARTICLE 7

Concerning the Trustee

     Section 7.01. Duties and Responsibilities of Trustee. The Trustee, prior to the occurrence
of an Event of Default and after the curing or waiver of all Events of Default that may have
occurred, undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture. In case an Event of Default has occurred that has not been cured or waived the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the
same degree of care and skill in their exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs; provided that if an Event of Default
occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or
powers under this Indenture at the request or direction of any of the Holders unless such Holders
have offered to the Trustee indemnity or security satisfactory to it against the costs, expenses
and liabilities that might be incurred by it in compliance with such request or direction.

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     No provision of this Indenture shall be construed to relieve the Trustee from liability for
its own grossly negligent action, its own grossly negligent failure to act or its own willful
misconduct, except that:

     (a) prior to the occurrence of an Event of Default and after the curing or waiving of all
Events of Default that may have occurred:

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

     (ii) in the absence of bad faith or willful misconduct on the part of the Trustee,
the Trustee may conclusively rely, as to the truth of the statements and the correctness of
the opinions expressed therein, upon any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture; but, in the case of any such
certificates or opinions that by any provisions hereof are specifically required to be
furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of any mathematical calculations or other facts stated therein);

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

     (c) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of not less than a
majority of the aggregate principal amount of the Notes at the time outstanding determined as
provided in Section 8.04 relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture;

     (d) whether or not therein provided, every provision of this Indenture relating to the
conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to
the provisions of this Section 7.01;

     (e) the Trustee shall not be liable in respect of any payment (as to the correctness of
amount, entitlement to receive or any other matters relating to payment) or notice effected by the
Company or any Paying Agent or any records maintained by any co-Note Registrar with respect to the
Notes;

     (f) if any party fails to deliver a notice relating to an event the fact of which,
pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively
rely on its failure to receive such notice as reason to act as if no such event occurred, unless
such Responsible Officer of the Trustee had actual knowledge of such event;

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     (g) in the absence of written investment direction from the Company, all cash received by
the Trustee shall be placed in a non-interest bearing trust account, and in no event shall the
Trustee be liable for the selection of investments or for investment losses incurred thereon or for
losses incurred as a result of the liquidation of any such investment prior to its maturity date or
the failure of the party directing such investments prior to its maturity date or the failure of
the party directing such investment to provide timely written investment direction, and the Trustee
shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such
timely and written investment direction from the Company; and

     (h) in the event that the Trustee is also acting as Custodian, Note Registrar, Paying
Agent, Conversion Agent, Bid Solicitation Agent, transfer agent or other agent hereunder, the
rights and protections afforded to the Trustee pursuant to this Article 7 shall also be afforded to
such Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent, transfer
agent or other agent hereunder.

     None of the provisions contained in this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur personal financial liability in the performance of any of its
duties or in the exercise of any of its rights or powers.

     Section 7.02. Reliance on Documents, Opinions, Etc. Except as otherwise provided in Section
7.01:

     (a) the Trustee may conclusively rely and shall be fully protected in acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order,
bond, Note, coupon or other paper or document believed by it in good faith to be genuine and to
have been signed or presented by the proper party or parties;

     (b) any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be
herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy
thereof certified by the Secretary or an Assistant Secretary of the Company;

     (c) the Trustee may consult with counsel of its selection and require an Opinion of
Counsel and any advice of such counsel or Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or omitted by it hereunder in good
faith and in accordance with such advice or Opinion of Counsel;

     (d) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see
fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Company, personally or by agent or
attorney at the expense of the Company and shall incur no liability of any kind by reason of such
inquiry or investigation;

     (e) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents, custodians, nominees or attorneys and

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the Trustee shall not be responsible for any misconduct or negligence on the part of any
agent, custodian, nominee or attorney appointed by it with due care hereunder;

     (f) the permissive rights of the Trustee enumerated herein shall not be construed as
duties;

     (g) in no event shall the Trustee be liable for any consequential, indirect, punitive or
special loss or damage of any kind whatsoever (including but not limited to 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 shall not be charged with knowledge of any Default or Event of Default
with respect to the Notes, unless either (1) a Responsible Officer shall have actual knowledge of
such Default or Event of Default or (2) written notice of such Default or Event of Default shall
have been given to the Trustee at its Corporate Trust Office by the Company or by any Holder of the
Notes;

     (i) the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder; and

     (j) the Trustee may request that the Company deliver a certificate setting forth the names
of individuals and/or titles of officers authorized at such time to take specified actions pursuant
to this Indenture.

     Section 7.03. No Responsibility for Recitals, Etc. The recitals contained herein and in the
Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for the correctness of the same. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes
or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the
provisions of this Indenture.

     Section 7.04. Trustee, Paying Agents, Conversion Agent, Bid Solicitation Agent or Note
Registrar May Own Notes. The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation
Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee
of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion
Agent, Bid Solicitation Agent or Note Registrar.

     Section 7.05. Monies and Shares of Common Stock to Be Held in Trust. All monies and shares
of Common Stock received by the Trustee shall, until used or applied as herein provided, be held in
trust for the purposes for which they were received. Money and shares of Common Stock held by the
Trustee in trust hereunder need not be segregated from other funds except to the extent required by
law. The Trustee shall be under no liability for interest on any money or shares of Common Stock
received by it hereunder except as may be agreed in writing from time to time by the Company and
the Trustee.

     Section 7.06. Compensation and Expenses of Trustee. The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, such

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compensation for all services rendered by it hereunder in any capacity (which shall not be
limited by any provision of law in regard to the compensation of a trustee of an express trust) as
mutually agreed to in writing between the Trustee and the Company, and the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances
reasonably incurred or made by the Trustee in accordance with any of the provisions of this
Indenture in any capacity thereunder (including the reasonable compensation and the expenses and
disbursements of its agents and counsel and of all Persons not regularly in its employ) except any
such expense, disbursement or advance as shall have been caused by its gross negligence, willful
misconduct or bad faith. The Company also covenants to indemnify the Trustee in any capacity under
this Indenture and any other document or transaction entered into in connection herewith and its
agents and any authenticating agent for, and to hold them harmless against, any loss, claim,
damage, liability or expense incurred without gross negligence, willful misconduct or bad faith on
the part of the Trustee, its officers, directors, agents or employees, or such agent or
authenticating agent, as the case may be, and arising out of or in connection with the acceptance
or administration of this trust or in any other capacity hereunder, including the costs and
expenses of defending themselves against any claim of liability (whether asserted by the Company, a
Holder or any other Person) in the premises. The obligations of the Company under this Section
7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses,
disbursements and advances shall be secured by a senior claim to which the Notes are hereby made
subordinate on all money or property held or collected by the Trustee, except, subject to the
effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of particular
Notes. The Trustee’s right to receive payment of any amounts due under this Section 7.06 shall not
be subordinate to any other liability or indebtedness of the Company (even though the Notes may be
so subordinated). The obligation of the Company under this Section 7.06 shall survive the
satisfaction and discharge of this Indenture and the earlier resignation or removal or the Trustee.
The Company need not pay for any settlement made without its consent, which consent shall not be
unreasonably withheld. The indemnification provided in this Section 7.06 shall extend to the
officers, directors, agents and employees of the Trustee.

     Without prejudice to any other rights available to the Trustee under applicable law, when the
Trustee and its agents and any authenticating agent incur expenses or render services after an
Event of Default specified in Section 6.01(i) or Section 6.01(j) occurs, the expenses and the
compensation for the services are intended to constitute expenses of administration under any
bankruptcy, insolvency or similar laws.

     Section 7.07. Officers’ Certificate as Evidence. Except as otherwise provided in Section
7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or omitting any
action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of gross negligence, willful misconduct, recklessness and bad faith
on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’
Certificate delivered to the Trustee, and such Officers’ Certificate, in the absence of gross
negligence, willful misconduct, recklessness and bad faith on the part of the Trustee, shall be
full warrant to the Trustee for any action taken or omitted by it under the provisions of this
Indenture upon the faith thereof.

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     Section 7.08. Eligibility of Trustee. There shall at all times be a Trustee hereunder which
shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a
combined capital and surplus of at least $50,000,000. If such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of any supervising or examining
authority, then for the purposes of this Section 7.08, the combined capital and surplus of such
Person shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article 7.

     Section 7.09. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by
giving written notice of such resignation to the Company and by mailing notice thereof to the
Holders at their addresses as they shall appear on the Note Register. Upon receiving such notice
of resignation, the Company shall promptly appoint a successor trustee by written instrument, in
duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee
shall have been so appointed and have accepted appointment within 60 days after the mailing of such
notice of resignation to the Holders, the resigning Trustee may, at the expense of the Company,
upon 10 Business Days’ notice to the Company and the Holders, petition any court of competent
jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide
holder of a Note or Notes for at least six months may, subject to the provisions of Section 6.11,
on behalf of himself and all others similarly situated, petition any such court for the appointment
of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper
and prescribe, appoint a successor trustee.

     (b) In case at any time any of the following shall occur:

     (i) the Trustee shall cease to be eligible in accordance with the provisions of
Section 7.08 and shall fail to resign after written request therefor by the Company or by
any such Holder, or

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

then, in either case, the Company may by a Board Resolution remove the Trustee and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and one copy to the
successor trustee, or, subject to the provisions of Section 6.11, any Holder who has been a bona
fide holder of a Note or Notes for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and
the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it
may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

     (c) The Holders of a majority in aggregate principal amount of the Notes at the time
outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee

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and nominate a successor trustee that shall be deemed appointed as successor trustee unless
within 10 days after notice to the Company of such nomination the Company objects thereto, in which
case the Trustee so removed or any Holder, upon the terms and conditions and otherwise as in
Section 7.09(a) provided, may, at the expense of the Company, petition any court of competent
jurisdiction for an appointment of a successor trustee.

     (d) Any resignation or removal of the Trustee and appointment of a successor trustee
pursuant to any of the provisions of this Section 7.09 shall become effective upon acceptance of
appointment by the successor trustee as provided in Section 7.10.

     Section 7.10. Acceptance by Successor Trustee. Any successor trustee appointed as provided
in Section 7.09 shall execute, acknowledge and deliver to the Company and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the resignation or
removal of the predecessor trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, duties and
obligations of its predecessor hereunder, with like effect as if originally named as Trustee
herein; but, nevertheless, on the written request of the Company or of the successor trustee, the
trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of
Section 7.06, execute and deliver an instrument transferring to such successor trustee all the
rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee,
the Company shall execute any and all instruments in writing for more fully and certainly vesting
in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act
shall, nevertheless, retain a senior claim to which the Notes are hereby made subordinate on all
money or property held or collected by such trustee as such, except for funds held in trust for the
benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the
provisions of Section 7.06.

     No successor trustee shall accept appointment as provided in this Section 7.10 unless at the
time of such acceptance such successor trustee shall be eligible under the provisions of Section
7.08.

     Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each
of the Company and the successor trustee, at the written direction and at the expense of the
Company shall mail or cause to be mailed notice of the succession of such trustee hereunder to the
Holders at their addresses as they shall appear on the Note Register. If the Company fails to mail
such notice within 10 days after acceptance of appointment by the successor trustee, the successor
trustee shall cause such notice to be mailed at the expense of the Company.

     Section 7.11. Succession by Merger, Etc. Any corporation or other entity into which the
Trustee may be merged or converted or with which it may be consolidated, or any corporation or
other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation or other entity succeeding to all or substantially all of the corporate
trust business of the Trustee (including the administration of this Indenture), shall be the
successor to the Trustee hereunder without the execution or filing of any paper or any further act
on the part of any of the parties hereto; provided that in the case of any corporation or other
entity succeeding to all or substantially all of the corporate trust business of the Trustee such
corporation or other entity shall be eligible under the provisions of Section 7.08.

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     In case at the time such successor to the Trustee shall succeed to the trusts created by this
Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to
the Trustee may adopt the certificate of authentication of any predecessor trustee or
authenticating agent appointed by such predecessor trustee, and deliver such Notes so
authenticated; and in case at that time any of the Notes shall not have been authenticated, any
successor to the Trustee or an authenticating agent appointed by such successor trustee may
authenticate such Notes either in the name of any predecessor trustee hereunder or in the name of
the successor trustee; and in all such cases such certificates shall have the full force which it
is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall
have; provided, however, that the right to adopt the certificate of authentication of any
predecessor trustee or to authenticate Notes in the name of any predecessor trustee shall apply
only to its successor or successors by merger, conversion or consolidation.

ARTICLE 8

Concerning the Holders

     Section 8.01. Action by Holders. Whenever in this Indenture it is provided that the Holders
of a specified percentage of the aggregate principal amount of the Notes may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such action, the Holders of
such specified percentage have joined therein may be evidenced (a) by any instrument or any number
of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in
writing, or (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly
called and held in accordance with such rules as may be established in accordance with Section
17.17, or (c) by a combination of such instrument or instruments and any such record of such a
meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the
Holders of the Notes, the Company or the Trustee may fix, but shall not be required to, in advance
of such solicitation, a date as the record date for determining Holders entitled to take such
action. The record date if one is selected shall be not more than fifteen days prior to the date
of commencement of solicitation of such action.

     Section 8.02. Proof of Execution by Holders. Subject to the provisions of Section 7.01,
Section 7.02 and such rules as may be established in accordance with Section 17.17, proof of the
execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in
accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in
such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the
Note Register or by a certificate of the Note Registrar. The record of any Holders’ meeting shall
be proved in the manner provided by the Trustee in accordance with Section 17.17.

     Section 8.03. Who Are Deemed Absolute Owners. The Company, the Trustee, any authenticating
agent, any Paying Agent, any Conversion Agent and any Note Registrar may deem the Person in whose
name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute
owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of
ownership or other writing thereon made by any Person other than the Company or any Note Registrar)
for the purpose of receiving payment of or on account of the principal of and (subject to Section
2.03) accrued and unpaid interest on such Note, for conversion of such Note and for all other
purposes; and neither the Company nor the Trustee nor

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any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any
notice to the contrary. All such payments or deliveries so made to any Holder for the time being,
or upon its order, shall be valid, and, to the extent of the sums or shares of Common Stock so paid
or delivered, effectual to satisfy and discharge the liability for monies payable or shares
deliverable upon any such Note. Notwithstanding anything to the contrary in this Indenture or the
Notes following an Event of Default, any Holder of a beneficial interest in a Global Note may
directly enforce against the Company, without the consent, solicitation, proxy, authorization or
any other action of the Depositary or any other Person, such Holder’s right to exchange such
beneficial interest for a Note in certificated form in accordance with the provisions of this
Indenture.

     Section 8.04. Company-Owned Notes Disregarded. In determining whether the Holders of the
requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or
other action under this Indenture, Notes that are owned by the Company or by any Person directly or
indirectly controlling or controlled by or under direct or indirect common control with the Company
shall be disregarded and deemed not to be outstanding for the purpose of any such determination;
provided that for the purposes of determining whether the Trustee shall be protected in relying on
any such direction, consent, waiver or other action only Notes that a Responsible Officer actually
knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith
may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish
to the satisfaction of the Trustee the pledgee’s right to so act with respect to such Notes and
that the pledgee is not the Company or a Person directly or indirectly controlling or controlled by
or under direct or indirect common control with the Company. In the case of a dispute as to such
right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the
Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an
Officers’ Certificate listing and identifying all Notes, if any, known by the Company to be owned
or held by or for the account of any of the above described Persons; and, subject to Section 7.01,
the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the
facts therein set forth and of the fact that all Notes not listed therein are outstanding for the
purpose of any such determination. The Trustee shall not be required at any time to request a list
of Company-owned Notes before taking any actions or making any calculations.

     Section 8.05. Revocation of Consents; Future Holders Bound. At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by
the Holders of the percentage of the aggregate principal amount of the Notes specified in this
Indenture in connection with such action, any Holder of a Note that is shown by the evidence to be
included in the Notes the Holders of which have consented to such action may, by filing written
notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in
Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such
action taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon
all future Holders and owners of such Note and of any Notes issued in exchange or substitution
therefor or upon registration of transfer thereof, irrespective of whether any notation in regard
thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon
registration of transfer thereof.

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ARTICLE 9

Intentionally Omitted

ARTICLE 10

Supplemental Indentures

     Section 10.01. Supplemental Indentures Without Consent of Holders. The Company, when
authorized by the resolutions of the Board of Directors and the Trustee, at the Company’s expense,
may from time to time and at any time enter into an indenture or indentures supplemental hereto for
one or more of the following purposes:

     (a) to cure any ambiguity, omission, defect or inconsistency in this Indenture that does
not, individually or in the aggregate, adversely affect the rights of any Holder of the Notes in
any material respect;

     (b) to provide for the assumption by a Successor Company of the obligations of the Company
under this Indenture pursuant to Article 11;

     (c) to add guarantees with respect to the Notes;

     (d) to secure the Notes;

     (e) to add to the covenants for the benefit of the Holders or surrender any right or power
conferred upon the Company;

     (f) to make any other change that does not adversely affect the rights of any Holder;

     (g) to comply with any requirements of the Commission in connection with the qualification
of this Indenture under the Trust Indenture Act;

     (h) to appoint a successor Trustee with respect to the Notes; or

     (i) to conform the provisions of this Indenture or the Notes to the “Description of the
notes” section of the Prospectus, as set forth in an Officers’ Certificate.

     Upon the written request of the Company, the Trustee is hereby authorized to join with the
Company in the execution of any such supplemental indenture, to make any further appropriate
agreements and stipulations that may be therein contained, but the Trustee shall not be obligated
to, but may in its discretion, enter into any supplemental indenture that affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

     Any supplemental indenture authorized by the provisions of this Section 10.01 may be executed
by the Company and the Trustee without the consent of the Holders of any of the Notes at the time
outstanding, notwithstanding any of the provisions of Section 10.02.

     Section 10.02. Supplemental Indentures with Consent of Holders. With the consent (evidenced
as provided in Article 8) of the Holders of at least a majority of the aggregate principal amount
of the Notes then outstanding (determined in accordance with Article 8 and

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including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, Notes), the Company, when authorized by the resolutions of the Board
of Directors and the Trustee, at the Company’s expense, may from time to time and at any time enter
into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or any supplemental
indenture or of modifying in any manner the rights of the Holders; provided, however, that, without
the consent of each Holder of an outstanding Note affected, no such supplemental indenture shall:

     (a) reduce the percentage in aggregate principal amount of Notes outstanding whose Holders
must consent to an amendment to this Indenture or to waive any past Default or Event of Default
pursuant to Section 6.09;

     (b) reduce the rate of or extend the stated time for payment of interest on any Note;

     (c) reduce the principal of or extend the Maturity Date of any Note;

     (d) make any change that impairs or adversely affects the conversion rights of any Notes;

     (e) reduce the Redemption Price or the Fundamental Change Purchase Price of any Note or
amend or modify in any manner adverse to the Holders the Company’s obligation to make such
payments, whether through an amendment or waiver of provisions in the covenants, definitions or
otherwise;

     (f) make any Note payable in a currency other than that stated in the Note;

     (g) change the ranking of the Notes;

     (h) impair the right of any Holder to receive payment of principal of and interest,
including Additional Interest, if any, on such Holder’s Notes on or after the due dates therefor or
to institute suit for the enforcement of any payment on or with respect to such Holder’s Note; or

     (i) make any change in this Article 10 that requires each Holder’s consent or in the
waiver provisions in Section 6.01 or Section 6.09.

     Upon the written request of the Company, and upon the filing with the Trustee of evidence of
the consent of Holders as aforesaid and subject to Section 10.05, the Trustee shall join with the
Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the
Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

     Holders do not need under this Section 10.02 to approve the particular form of any proposed
supplemental indenture. It shall be sufficient if such Holders approve the substance thereof.
After any such supplemental indenture becomes effective, the Company shall deliver to the Holders a
notice briefly describing such supplemental indenture. However, the failure to give

40

 

such notice to all the Holders, or any defect in the notice, will not impair or affect the
validity of the supplemental indenture.

     Section 10.03. Effect of Supplemental Indentures. Upon the execution of any supplemental
indenture pursuant to the provisions of this Article 10, this Indenture shall be and be deemed to
be modified and amended in accordance therewith and the respective rights, limitation of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders
shall thereafter be determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture for any and all
purposes.

     Section 10.04. Notation on Notes. Notes authenticated and delivered after the execution of
any supplemental indenture pursuant to the provisions of this Article 10 may, at the Company’s
expense, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company or the Trustee shall so determine, new Notes so modified as
to conform, in the opinion of the Trustee and the Board of Directors, to any modification of this
Indenture contained in any such supplemental indenture may, at the Company’s expense, be prepared
and executed by the Company, authenticated by the Trustee (or an authenticating agent duly
appointed by the Trustee pursuant to Section 17.10) and delivered in exchange for the Notes then
outstanding, upon surrender of such Notes then outstanding.

     Section 10.05. Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee. In
addition to the documents required by Section 17.05, the Trustee shall receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant hereto complies with the requirements of this Article 10 and is permitted or
authorized by this Indenture, and is the legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms.

ARTICLE 11

Consolidation, Merger, Sale, Conveyance and Lease

     Section 11.01. Company May Consolidate, Etc. on Certain Terms. Subject to the provisions of
Section 11.02, the Company shall not consolidate with, merge with or into, or sell, convey,
transfer or lease its properties and assets substantially as an entirety to another Person, unless:

     (a) the resulting, surviving or transferee Person (the “Successor Company”), if not the
Company, shall be a corporation organized and existing under the laws of the United States of
America, any State thereof or the District of Columbia, and the Successor Company (if not the
Company) shall expressly assume, by supplemental indenture, executed and delivered to the Trustee,
in form satisfactory to the Trustee, all of the obligations of the Company under the Notes and this
Indenture; and

     (b) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing under this Indenture.

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     For purposes of this Section 11.01, the sale, conveyance, transfer or lease of the
properties and assets of one or more Subsidiaries of the Company substantially as an entirety to
another Person, which properties and assets, if held by the Company instead of such Subsidiaries,
would constitute the properties and assets of the Company substantially as an entirety on a
consolidated basis, shall be deemed to be the sale, conveyance, transfer or lease of the properties
and assets of the Company substantially as an entirety to another Person.

     Section 11.02. Successor Corporation to Be Substituted. In case of any such consolidation,
merger, sale, conveyance, transfer or lease and upon the assumption by the Successor Company, by
supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the
Trustee, of the due and punctual payment of the principal of and accrued and unpaid interest on all
of the Notes, the due and punctual delivery or payment, as the case may be, of any consideration
due upon conversion of the Notes and the due and punctual performance of all of the covenants and
conditions of this Indenture to be performed by the Company, such Successor Company (if not the
Company) shall succeed to and be substituted for the Company, with the same effect as if it had
been named herein as the party of the first part, except in the case of a lease of the Company’s
properties and assets substantially as an entirety. Such Successor Company thereupon may cause to
be signed, and may issue either in its own name or in the name of the Company any or all of the
Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered
to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to
all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that
previously shall have been signed and delivered by the Officers of the Company to the Trustee for
authentication, and any Notes that such Successor Company thereafter shall cause to be signed and
delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the
same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in
accordance with the terms of this Indenture as though all of such Notes had been issued at the date
of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or
transfer (but not in the case of a lease), upon compliance with this Article 11 the Person named as
the “Company” in the first paragraph of this Indenture (or any successor that shall thereafter have
become such in the manner prescribed in this Article 11) may be dissolved, wound up and liquidated
at any time thereafter and, except in the case of a lease, such Person shall be released from its
liabilities as obligor and maker of the Notes and from its obligations under this Indenture and the
Notes.

     In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes
in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as
may be appropriate.

     Section 11.03. Opinion of Counsel to Be Given to Trustee. No consolidation, merger, sale,
conveyance, transfer or lease shall be effective unless the Trustee shall receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger,
sale, conveyance, transfer or lease and any such assumption complies with the provisions of this
Article 11 and, if a supplemental indenture is required in connection with such transaction, such
supplemental indenture, complies with the provisions of this Article 11 and Article 10 and has been
duly authorized, executed and delivered by the Successor Company, and

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is the legal, valid and binding obligation of the Successor Company, enforceable against the
Successor Company in accordance with its terms.

ARTICLE 12

Immunity of Incorporators, Stockholders, Officers and Directors

     Section 12.01. Indenture and Notes Solely Corporate Obligations. No recourse for the payment
of the principal of or accrued and unpaid interest on any Note, nor for any claim based thereon or
otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement
of the Company in this Indenture or in any supplemental indenture or in any Note, nor because of
the creation of any indebtedness represented thereby, shall be had against any incorporator,
stockholder, employee, agent, Officer or director or Subsidiary, as such, past, present or future,
of the Company or of any successor corporation, either directly or through the Company or any
successor corporation, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as a consideration for,
the execution of this Indenture and the issue of the Notes.

ARTICLE 13

Intentionally Omitted

ARTICLE 14

Conversion of Notes

     Section 14.01. Conversion Privilege. (a)Subject to and upon compliance with the provisions
of this Article 14, each Holder of a Note shall have the right, at such Holder’s option, to convert
all or any portion (if the portion to be converted is $1,000 principal amount or a multiple
thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b),
at any time prior to the close of business on the Business Day immediately preceding March 15, 2016
under the circumstances and during the periods set forth in Section 14.01(b), and (ii) irrespective
of the conditions described in Section 14.01(b), on or after March 15, 2016 and prior to the close
of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each
case, at an initial conversion rate of 38.1749 shares of Common Stock (as adjusted as provided in
Section 14.04 as of any date, the “Conversion Rate”) per $1,000 principal amount of Notes (subject
to the settlement provisions of Section 14.02, the “Conversion Obligation”).

     (b) (i) Prior to the close of business on the Business Day immediately preceding March 15,
2016, the Notes may be surrendered for conversion during the five Business Day period immediately
after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price
per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in
accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less
than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate
on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent
pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture.
The Company shall provide written notice to the Bid

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Solicitation Agent of the three independent nationally recognized securities dealers selected
by the Company pursuant to the definition of Trading Price, along with appropriate contact
information for each. The Bid Solicitation Agent shall have no obligation to determine the Trading
Price per $1,000 principal amount of Notes unless the Company has requested such determination in
writing, and the Company shall have no obligation to make such request unless a Holder provides the
Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would
be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the
Conversion Rate, at which time the Company shall instruct the Bid Solicitation Agent in writing to
determine the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day
and on each successive Trading Day until the Trading Price per Note is greater than or equal to 98%
of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If the
Company does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000
principal amount of Notes when obligated as provided in the preceding sentence, or if the Company
instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make
such determination, then, in either case, the Trading Price per $1,000 principal amount of Notes
shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common
Stock and the Conversion Rate on each Trading Day of such failure. If the Trading Price condition
set forth above has been met, the Company shall so notify the Holders, the Trustee and the
Conversion Agent (if other than the Trustee). If, at any time after the Trading Price condition
set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater
than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the
applicable Conversion Rate, the Company shall so notify the Holders of the Notes, the Trustee and
the Conversion Agent (if other than the Trustee) in writing.

     (ii) If, prior to the close of business on the Business Day immediately preceding March
15, 2016, the Company elects to:

     (A) distribute to all or substantially all holders of its Common Stock rights,
options or warrants entitling them, for a period of not more than 60 calendar days
from the declaration date of such distribution, to subscribe for or purchase shares
of its Common Stock, at a price per share less than the average of the Last
Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period
ending on, and including, the Trading Day immediately preceding the declaration
date for such distribution; or

     (B) distribute to all or substantially all holders of its Common Stock the
Company’s assets, debt securities or rights to purchase securities of the Company,
which distribution has a per share value, as determined by the Board of Directors,
exceeding 10% of the average of the Last Reported Sale Prices of the Common Stock
for the 10 consecutive Trading Day period ending on, and including, the Trading Day
immediately preceding the declaration date for such distribution,

then, in either case, the Company shall notify all Holders of the Notes, the Trustee and the
Conversion Agent (if other than the Trustee) in writing at least 35 Business Days prior to the
Ex-Dividend Date for such distribution. Once the Company has given such notice, the Notes may be

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surrendered for conversion at any time until the earlier of (1) the close of business on the
Business Day immediately prior to the Ex-Dividend Date for such distribution and (2) the Company’s
announcement that such distribution will not take place, even if the Notes are not otherwise
convertible at such time.

     (iii) If a transaction or event that constitutes a Fundamental Change or a Make-Whole
Fundamental Change occurs prior to the close of business on the Business Day immediately
preceding March 15, 2016, regardless of whether a Holder has the right to require the
Company to purchase the Notes pursuant to Section 15.02, the Notes may be surrendered for
conversion at any time from and after the date that is 35 Business Days prior to the
anticipated effective date of such Fundamental Change or Make-Whole Fundamental Change, as
the case may be, until the Business Day immediately preceding the Fundamental Change
Purchase Date corresponding to such Fundamental Change (or, in the case of a Make-Whole
Fundamental Change that does not constitute a Fundamental Change by virtue of the proviso in
clause (b) of the definition of Make-Whole Fundamental Change, the 35th Trading Day
immediately following such effective date). The Company shall give notice in writing of the
anticipated effective date of any Fundamental Change or Make-Whole Fundamental Change, as
the case may be, as soon as practicable after the Company first determines the anticipated
effective date of such Fundamental Change or such Make-Whole Fundamental Change, as the case
may be; provided that the Company shall not be required to give such notice more than 35
Business Days in advance of such anticipated effective date.

     (iv) Prior to the close of business on the Business Day immediately preceding March 15,
2016, the Notes may be surrendered for conversion during any calendar quarter commencing
after the calendar quarter ending on September 30, 2011 (and only during such calendar
quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days
(whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and
including, the last Trading Day of the immediately preceding calendar quarter is equal to or
greater than 130% of the Conversion Price on each applicable Trading Day. The Conversion
Agent, on behalf of the Company, shall determine at the beginning of each calendar quarter
commencing after September 30, 2011 whether the Notes may be surrendered for conversion in
accordance with this clause (iv) and shall notify the Company and the Trustee if the Notes
become convertible in accordance with this clause (iv).

     (v) If the Company calls any or all of the Notes for redemption pursuant to Article 16
prior to the close of business on the Business Day immediately preceding March 15, 2016,
then Holders may surrender Notes that have been so called for redemption at any time prior
to the close of business on the Scheduled Trading Day prior to the Redemption Date, even if
the Notes are not otherwise convertible at such time. After that time, the right to convert
shall expire, unless the Company defaults in the payment of the Redemption Price, in which
case a Holder of Notes may convert its Notes until the Redemption Price has been paid or
duly provided for.

     Section 14.02. Conversion Procedure; Settlement Upon Conversion.

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     (a) Subject to this Section 14.02, Section 14.03(b) and Section 14.07(a), upon conversion of
any Note, the Company shall pay or deliver, as the case may be, to the converting Holder, in
respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), shares
of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock
in accordance with subsection (j) of this Section 14.02 (“Physical Settlement”) or a combination of
cash and shares of Common Stock, together with cash, if applicable, in lieu of any fractional share
of Common Stock in accordance with subsection (j) of this Section 14.02 (“Combination Settlement”),
at its election, as set forth in this Section 14.02.

     (i) All conversions occurring on or after March 15, 2016 and after the Company’s
issuance of a Redemption Notice with respect to the Notes and prior to the related
Redemption Date shall be settled using the same Settlement Method.

     (ii) Prior to March 15, 2016, except for any conversions that occur after the Company’s
issuance of a Redemption Notice with respect to the Notes but prior to the related
Redemption Date, the Company shall use the same Settlement Method for all conversions
occurring on the same Conversion Date, but the Company shall not have any obligation to use
the same Settlement Method with respect to conversions that occur on different Trading Days.

     (iii) If, in respect of any Conversion Date (or the period beginning on, but excluding,
March 15, 2016 and ending on, and including, the Business Day immediately preceding the
Maturity Date, as the case may be), the Company elects to deliver a notice (the “Settlement
Notice”) of the relevant Settlement Method in respect of such Conversion Date (or such
period, as the case may be), the Company, through the Trustee, shall deliver such Settlement
Notice to converting Holders no later than the close of business on the Trading Day
immediately following the relevant Conversion Date (or, in the case of any conversions
occurring (x) after the date of issuance of a Redemption Notice with respect to the Notes
and prior to the related Redemption Date, in such Redemption Notice or (y) on or after March
15, 2016, no later than April 15, 2016). If the Company does not elect a Settlement Method
prior to the deadline set forth in the immediately preceding sentence, the Company shall no
longer have the right to elect Cash Settlement or Physical Settlement and the Company shall
be deemed to have elected Combination Settlement in respect of its Conversion Obligation,
and the Specified Dollar Amount per $1,000 principal amount of Notes shall be equal to
$1,000. Such Settlement Notice shall specify the relevant Settlement Method and in the case
of an election of Combination Settlement, the relevant Settlement Notice shall indicate the
Specified Dollar Amount. If the Company delivers a Settlement Notice electing Combination
Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar
Amount in such Settlement Notice, the Specified Dollar Amount shall be deemed to be $1,000.

     (iv) The cash, shares of Common Stock or combination of cash and shares of Common Stock
in respect of any conversion of Notes (the “Settlement Amount”) shall be computed as
follows:

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     (A) if the Company elects to satisfy its Conversion Obligation in respect of
such conversion by Physical Settlement, the Company shall deliver to the converting
Holder a number of shares of Common Stock equal to the product of (1) the aggregate
principal amount of Notes to be converted, divided by $1,000, and (2) the
Conversion Rate in effect on the Conversion Date;

     (B) if the Company elects to satisfy its Conversion Obligation in respect of
such conversion by Cash Settlement, the Company shall pay to the converting Holder
in respect of each $1,000 principal amount of Notes being converted cash in an
amount equal to the sum of the Daily Conversion Values for each of the 25
consecutive Trading Days during the related Observation Period; and

     (C) if the Company elects (or is deemed to have elected) to satisfy its
Conversion Obligation in respect of such conversion by Combination Settlement, the
Company shall pay or deliver, as the case may be, in respect of each $1,000
principal amount of Notes being converted, a Settlement Amount equal to the sum of
the Daily Settlement Amounts for each of the 25 consecutive Trading Days during the
related Observation Period.

     (v) The Daily Settlement Amounts (if applicable) and the Daily Conversion Values (if
applicable) shall be determined by the Company promptly following the last day of the
Observation Period. Promptly after such determination of the Daily Settlement Amounts or
the Daily Conversion Values, as the case may be, and the amount of cash payable in lieu of
any fractional share, the Company shall notify the Trustee and the Conversion Agent (if
other than the Trustee) of the Daily Settlement Amounts or the Daily Conversion Values, as
the case may be, and the amount of cash payable in lieu of fractional shares of Common
Stock. The Trustee and the Conversion Agent (if other than the Trustee) shall have no
responsibility for any such determination.

     (b) Subject to Section 14.02(e), before any Holder of a Note shall be entitled to convert a
Note as set forth above, such Holder shall (i) in the case of a Global Note, comply with the
procedures of the Depositary in effect at that time and, if required, pay funds equal to interest
payable on the next Interest Payment Date to which such Holder is not entitled as set forth in
Section 14.02(h) and (ii) in the case of a Physical Note (1) complete, manually sign and deliver an
irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion (or a
facsimile thereof) (a “Notice of Conversion”) at the office of the Conversion Agent and state in
writing therein the principal amount of Notes to be converted and the name or names (with
addresses) in which such Holder wishes the certificate or certificates for any shares of Common
Stock to be delivered upon settlement of the Conversion Obligation to be registered, (2) surrender
such Notes, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement
and transfer documents), at the office of the Conversion Agent, (3) if required, furnish
appropriate endorsements and transfer documents and (4) if required, pay funds equal to interest
payable on the next Interest Payment Date to which such Holder is not entitled as set forth in
Section 14.02(h). The Trustee (and if different, the Conversion Agent) shall notify the Company of
any conversion pursuant to this Article 14 on the Conversion Date for such conversion. No Notice
of Conversion with respect to any Notes may be surrendered by a Holder

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thereof if such Holder has also delivered a Fundamental Change Purchase Notice to the Company
in respect of such Notes and not validly withdrawn such Fundamental Change Purchase Notice in
accordance with Section 15.03.

     If more than one Note shall be surrendered for conversion at one time by the same Holder, the
Conversion Obligation with respect to such Notes shall be computed on the basis of the aggregate
principal amount of the Notes (or specified portions thereof to the extent permitted thereby) so
surrendered.

     (c) A Note shall be deemed to have been converted immediately prior to the close of business
on the date (the “Conversion Date”) that the Holder has complied with the requirements set forth in
subsection (b) above. The Company shall pay or deliver, as the case may be, the consideration due
in respect of the Conversion Obligation on the third Business Day immediately following the
relevant Conversion Date, if the Company elects Physical Settlement, or on the third Business Day
immediately following the last Trading Day of the Observation Period, in the case of any other
Settlement Method. If any shares of Common Stock are due to converting Holders, the Company shall
issue or cause to be issued, and deliver to the Conversion Agent or to such Holder, or such
Holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary for the
full number of shares of Common Stock to which such Holder shall be entitled in satisfaction of the
Company’s Conversion Obligation.

     (d) In case any Note shall be surrendered for partial conversion, the Company shall execute
and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the
Note so surrendered a new Note or Notes in authorized denominations in an aggregate principal
amount equal to the unconverted portion of the surrendered Note, without payment of any service
charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum
sufficient to cover any transfer tax or similar governmental charge required by law or that may be
imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon
such conversion being different from the name of the Holder of the old Notes surrendered for such
conversion.

     (e) If a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or
similar issue or transfer tax due on the issue of any shares of Common Stock upon conversion,
unless the tax is due because the Holder requests such shares to be issued in a name other than the
Holder’s name, in which case the Holder shall pay that tax. The Conversion Agent may refuse to
deliver the certificates representing the shares of Common Stock being issued in a name other than
the Holder’s name until the Trustee receives a sum sufficient to pay any tax that is due by such
Holder in accordance with the immediately preceding sentence.

     (f) Except as provided in Section 14.04, no adjustment shall be made for dividends on any
shares issued upon the conversion of any Note as provided in this Article 14.

     (g) Upon the conversion of an interest in a Global Note, the Trustee, or the Custodian at the
direction of the Trustee, shall make a notation on such Global Note as to the reduction in the
principal amount represented thereby. The Company shall notify the Trustee in writing of any
conversion of Notes effected through any Conversion Agent other than the Trustee.

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     (h) Upon conversion, a Holder shall not receive any separate cash payment for accrued and
unpaid interest, if any, except as set forth below. The Company’s settlement of the Conversion
Obligation shall be deemed to satisfy in full its obligation to pay the principal amount of the
Note and accrued and unpaid interest, if any, to, but not including, the Conversion Date. As a
result, accrued and unpaid interest, if any, to, but not including, the Conversion Date shall be
deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of
Notes into a combination of cash and shares of Common Stock accrued and unpaid interest will be
deemed to be paid first out of the cash paid upon such conversion. Notwithstanding the foregoing,
if Notes are converted after the close of business on a Regular Record Date, Holders of such Notes
as of the close of business on such Regular Record Date will receive the full amount of interest
payable on such Notes on the corresponding Interest Payment Date notwithstanding the conversion.
Notes surrendered for conversion during the period from the close of business on any Regular Record
Date to the open of business on the immediately following Interest Payment Date must be accompanied
by funds equal to the amount of interest payable on the Notes so converted; provided that no such
payment shall be required (1) for conversions following the Regular Record Date immediately
preceding the Maturity Date; (2) if the Company has specified a Redemption Date that is after a
Regular Record Date and on or prior to the Business Day immediately following the corresponding
Interest Payment Date; (3) if the Company has specified a Fundamental Change Purchase Date that is
after a Regular Record Date and on or prior to the Business Day immediately following the
corresponding Interest Payment Date; or (4) to the extent of any Defaulted Amounts, if any
Defaulted Amounts exist at the time of conversion with respect to such Note.

     (i) The Person in whose name the certificate for any shares of Common Stock delivered upon
conversion is registered shall be treated as a stockholder of record as of the close of business on
the relevant Conversion Date (if the Company elects to satisfy the related Conversion Obligation by
Physical Settlement) or the last Trading Day of the relevant Observation Period (if the Company
elects to satisfy the related Conversion Obligation by Combination Settlement), as the case may be.
Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for
conversion.

     (j) The Company shall not issue any fractional share of Common Stock upon conversion of the
Notes and shall instead pay cash in lieu of any fractional share of Common Stock issuable upon
conversion based on the Daily VWAP on the relevant Conversion Date (in the case of Physical
Settlement) or based on the Daily VWAP on the last Trading Day of the relevant Observation Period
(in the case of Combination Settlement). For each Note surrendered for conversion, if the Company
has elected Combination Settlement, the full number of shares that shall be issued upon conversion
thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the applicable
Observation Period and any fractional shares remaining after such computation shall be paid in
cash.

     Section 14.03. Increased Conversion Rate Applicable to Certain Notes Surrendered in
Connection with Make-Whole Fundamental Changes. (a) If a Make-Whole Fundamental Change occurs and
a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change, the
Company shall, under the circumstances described below, increase the Conversion Rate for the Notes
so surrendered for conversion by a number of additional shares of Common Stock (the “Additional
Shares”), as described below. A conversion of Notes shall be

49

 

deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change if the
relevant Notice of Conversion is received by the Conversion Agent from, and including, the
Effective Date of the Make-Whole Fundamental Change up to, and including, the Business Day
immediately preceding the related Fundamental Change Purchase Date (or, in the case of a Make-Whole
Fundamental Change that would have been a Fundamental Change but for the proviso in clause (b) of
the definition thereof, the 35th Trading Day immediately following the Effective Date of such
Make-Whole Fundamental Change) (such period, the “Make-Whole Fundamental Change Period”).

     (b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change
pursuant to Section 14.01(b)(iii), the Company shall, at its option, satisfy the related Conversion
Obligation by Physical Settlement, Cash Settlement or Combination Settlement in accordance with
Section 14.02; provided, however, that if, at the effective time of a Make-Whole Fundamental Change
described in clause (b) of the definition of Fundamental Change, the Reference Property is composed
entirely of cash, for any conversion of Notes following the Effective Date of such Make-Whole
Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price
for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of
converted Notes equal to the Conversion Rate (including any adjustment for Additional Shares),
multiplied by such Stock Price. In such event, the Conversion Obligation shall be paid to Holders
in cash on the third Business Day following the Conversion Date.

     (c) The number of Additional Shares, if any, by which the Conversion Rate shall be increased
for conversions during the Make-Whole Fundamental Change Period shall be determined by reference to
the table below, based on the date on which the Make-Whole Fundamental Change occurs (the
"Effective Date”) and the price (the “Stock Price”) paid or deemed paid per share of the Common
Stock in the Make-Whole Fundamental Change. If holders of the Common Stock receive only cash in
the case of a Make-Whole Fundamental Change described in clause (b) of the definition of
Fundamental Change, the Stock Price shall be the cash amount paid per share. In the case of any
other Make-Whole Fundamental Change, the Stock Price shall be the average of the Last Reported Sale
Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading
Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. The Board of
Directors shall make appropriate adjustments to the Stock Price, in its good faith determination,
to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring
an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, during such
five consecutive Trading Day period.

     (d) The Stock Prices set forth in the column headings of the table below shall be adjusted as
of any date on which the Conversion Rate of the Notes is otherwise adjusted. The adjusted Stock
Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by
a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment
giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so
adjusted. The number of Additional Shares set forth in the table below shall be adjusted in the
same manner and at the same time as the Conversion Rate as set forth in Section 14.04.

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     (e) The following table sets forth the number of Additional Shares to be received per $1,000
principal amount of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date
set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Stock Price	 
	Effective Date	 	$19.77	 	 	$22.00	 	 	$26.00	 	 	$30.00	 	 	$34.00	 	 	$38.00	 	 	$42.00	 	 	$45.00	 	 	$50.00	 	 	$55.00	 	 	$60.00	 	 	$65.00	 	 	$70.00	 	 	$75.00	 	 	$80.00	 
	June 29, 2011
	 	 	12.4067	 	 	 	10.7236	 	 	 	7.6185	 	 	 	5.6283	 	 	 	4.2932	 	 	 	3.3640	 	 	 	2.6970	 	 	 	2.3152	 	 	 	1.8340	 	 	 	1.4863	 	 	 	1.2276	 	 	 	1.0297	 	 	 	0.8748	 	 	 	0.7509	 	 	 	0.6498	 
	June 15, 2012
	 	 	12.4067	 	 	 	10.3647	 	 	 	7.0174	 	 	 	4.9240	 	 	 	3.5640	 	 	 	2.6531	 	 	 	2.0272	 	 	 	1.6836	 	 	 	1.2710	 	 	 	0.9910	 	 	 	0.7948	 	 	 	0.6530	 	 	 	0.5473	 	 	 	0.4660	 	 	 	0.4018	 
	June 15, 2013
	 	 	12.4067	 	 	 	9.6956	 	 	 	6.0287	 	 	 	3.8023	 	 	 	2.4257	 	 	 	1.5693	 	 	 	1.0363	 	 	 	0.7733	 	 	 	0.4979	 	 	 	0.3436	 	 	 	0.2551	 	 	 	0.2018	 	 	 	0.1673	 	 	 	0.1433	 	 	 	0.1252	 
	June 15, 2014
	 	 	12.4067	 	 	 	8.5789	 	 	 	4.5413	 	 	 	2.0733	 	 	 	0.4928	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	June 15, 2015
	 	 	12.4067	 	 	 	6.4953	 	 	 	0.3957	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	June 15, 2016
	 	 	12.4067	 	 	 	7.2796	 	 	 	0.2866	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

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

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

     (ii) if the Stock Price is greater than $80.00 per share (subject to adjustment in the
same manner as the Stock Prices set forth in the column headings of the table above pursuant
to subsection (d) above), no Additional Shares shall be added to the Conversion Rate; and

     (iii) if the Stock Price is less than $19.77 per share (subject to adjustment in the
same manner as the Stock Prices set forth in the column headings of the table above pursuant
to subsection (d) above), no Additional Shares shall be added to the Conversion Rate.

Notwithstanding the foregoing, in no event shall the total number of shares of Common Stock
issuable upon conversion exceed 50.5816 per $1,000 principal amount of Notes, subject to adjustment
in the same manner as the Conversion Rate pursuant to Section 14.04.

     (f) As soon as practicable after the Company determines the anticipated Effective Date of any
proposed Make-Whole Fundamental Change the Company shall deliver to each Holder, the Trustee and
the Conversion Agent written notice of, and shall issue a press release indicating, and publicly
announce, through a public medium that is customary for such announcements, and publish on the
Company’s website, the anticipated Effective Date of such proposed Make-Whole Fundamental Change;
provided that the Company shall not be required to give such written notice or issue such press
release more than 35 Business Days in advance of such anticipated Effective Date. No later than
five Business Days after the actual Effective Date of each Make-Whole Fundamental Change, the
Company shall deliver to each Holder, the Trustee and the Conversion Agent written notice of, and
shall issue a press release indicating, and publicly

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announce, through a public medium that is
customary for such announcements, and publish on the Company’s website, such Effective Date.

     (g) Nothing in this Section 14.03 shall prevent an adjustment to the Conversion Rate pursuant
to Section 14.04 in respect of a Make-Whole Fundamental Change.

     Section 14.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from
time to time by the Company if any of the following events occurs, except that the Company shall
not make any adjustments to the Conversion Rate if Holders of the Notes participate (as a result of
holding the Notes and contemporaneously with holders of the Common Stock) in any of the
transactions described in this Section 14.04 as if they held a number of shares of Common Stock
equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes
held by such Holder, without having to convert their Notes.

     (a) If the Company issues solely shares of Common Stock as a dividend or distribution to all
holders of the outstanding Common Stock on all or substantially all of the shares of Common Stock,
or if the Company effects a share split or share combination of the Common Stock, the applicable
Conversion Rate will be adjusted based on the following formula:

	 	 	 	 	 

	CR’ = CR0 x

	 	OS’
 

OS0
	 	 

     where

	 	 	 	 	 	 	 

	 

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

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

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding immediately prior to the
open of business on the Ex-Dividend Date for such dividend or distribution, or
immediately prior to the open of business on the effective date of such share split or
share combination, as the case may be; and
	 
	 	 	 	 	 	 
	 

	 	OS’
	 	=
	 	the number of shares of Common Stock outstanding immediately after such
dividend or distribution, or immediately after the effective date of such share split
or share combination, as the case may be.

Any adjustment made under this Section 14.04(a) shall become effective immediately after the open
of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the
open of business on the effective date for such share split or share combination, as applicable.
If any dividend or distribution of the type described in this Section 14.04(a) is declared but not
so

52

 

paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the
Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that
would then be in effect if such dividend or distribution had not been declared.

     (b) If the Company distributes to all or substantially all holders of its Common Stock any
rights, options or warrants entitling them for a period of not more than 60 days from the
declaration date of such distribution to subscribe for or purchase shares of the Common Stock, at
a price per share less than the average of the Last Reported Sale Prices of the Common Stock
for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the declaration date for such distribution, the Conversion Rate shall be increased based
on the following formula:

	 	 	 	 	 

	CR’= CR0 x

	 	OS0 + X
 

OS0 + Y
	 	 

     where

	 	 	 	 	 	 	 

	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such distribution;
	 
	 	 	 	 	 	 
	 

	 	CR’
	 	=
	 	the Conversion Rate in effect immediately after the open of business on the
Ex-Dividend Date for such distribution;
	 
	 	 	 	 	 	 
	 

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

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

	 	Y
	 	=
	 	the number of shares of the Common Stock equal to the aggregate price payable
to exercise such rights, options or warrants, divided by the average of the Last
Reported Sale Prices of Common Stock over the 10 consecutive Trading Day period ending
on, and including, the Trading Day immediately preceding the Ex-Dividend Date relating
to such distribution of such rights, options or warrants.

Any increase made under this Section 14.04(b) shall be made successively whenever any such rights,
options or warrants are distributed and shall become effective immediately after the open of
business on the Ex-Dividend Date for such distribution. To the extent that shares of the Common
Stock are not delivered after the expiration of such rights, options or warrants, the Conversion
Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with
respect to the distribution of such rights, options or warrants been made on the basis of delivery
of only the number of shares of Common Stock actually delivered. If such rights, options or
warrants are not so distributed, the Conversion Rate shall be decreased to the Conversion Rate that
would then be in effect if such Ex-Dividend Date for such distribution had not occurred.

53

 

     For purposes of this Section 14.04(b), in determining whether any rights, options or warrants
entitle the holders to subscribe for or purchase shares of the Common Stock at less than such
average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the
declaration date of such distribution, and in determining the aggregate offering price of such
shares of Common Stock, there shall be taken into account any consideration received by the Company
for such rights, options or warrants and any amount payable on exercise or conversion thereof, the
value of such consideration, if other than cash, to be determined by the Board of Directors.

     (c) If the Company distributes shares of its Capital Stock, evidences of its indebtedness,
other assets or property or rights, options or warrants to acquire its Capital Stock or other
securities, to all or substantially all holders of the Common Stock, excluding (i) dividends or
distributions (including share splits) as to which an adjustment was effected pursuant to Section
14.04(a)or Section 14.04(b), (ii) dividends or distributions paid in cash as to which an adjustment
was effected pursuant to Section 14.04(d), and (iii) Spin-Offs as to which the provisions set forth
below in this Section 14.04(c) shall apply (any of such shares of Capital Stock, evidences of
indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or
other securities of the Company, the “Distributed Property”), then the Conversion Rate shall be
increased based on the following formula:

	 	 	 	 	 

	CR’= CR0 x

	 	SP0
 

SP0 - FMV
	 	 

     where

	 	 	 	 	 	 	 

	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such distribution;
	 
	 	 	 	 	 	 
	 

	 	CR’
	 	=
	 	the Conversion Rate in effect immediately after the open of business on the
Ex-Dividend Date for such distribution;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock over the
10 consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the Ex-Dividend Date for such distribution; and
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the fair market value (as determined by the Board of Directors) of the
Distributed Property distributed with respect to each outstanding share of the Common
Stock as of the open of business on the Ex-Dividend Date for such distribution.

Any increase made under the portion of this Section 14.04(c) above shall become effective
immediately after the open of business on the Ex-Dividend Date for such distribution. If such
distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate
that would then be in effect if such dividend or distribution had not been declared.
Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than
“SP0” (as

54

 

defined above), in lieu of the foregoing increase, each Holder of a Note shall
receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same
terms as holders of the Common Stock receive the Distributed Property, the amount of Distributed
Property such Holder would have received if such Holder owned a number of shares of Common Stock
equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. If the Board of
Directors determines the “FMV” (as defined above) of any distribution for purposes of this Section
14.04(c) by reference to the actual or when-issued trading market for any securities, it shall in
doing so consider the prices in such market over the same period used in computing the Last
Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and
including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution.

          With respect to an adjustment pursuant to this Section 14.04(c) where there has been a
dividend or other distribution on the Common Stock of shares of Capital Stock of any class or
series, or similar equity interest, of or relating to a Subsidiary or other business unit of the
Company, which Capital Stock or similar equity interest will be quoted or listed for trading on a
U.S. national securities exchange or other established automated over-the-counter trading market in
the United States after its distribution (a “Spin-Off”), the Conversion Rate in effect immediately
before the close of business on the tenth Trading Day immediately following, and including, the
Ex-Dividend Date for the Spin-Off will be increased based on the following formula:

	 	 	 	 	 

	CR’ = CR0 x

	 	FMV + MP0
 

MP0
	 	 

     where

	 	 	 	 	 	 	 

	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the close of business on
the tenth Trading Day immediately following, and including, the Ex-Dividend Date for
the Spin-Off;
	 
	 	 	 	 	 	 
	 

	 	CR’
	 	=
	 	the Conversion Rate in effect immediately after the close of business on the
tenth Trading Day immediately following, and including, the Ex-Dividend Date for the
Spin-Off;
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the average of the Last Reported Sale Prices of the Capital Stock or similar
equity interest distributed to holders of the Common Stock applicable to one share of
the Common Stock over the first 10 consecutive Trading Day period immediately
following, and including, the Ex-Dividend Date for the Spin-Off; and
	 
	 	 	 	 	 	 
	 

	 	MP0
	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock over the
first 10 consecutive Trading Day period immediately following and including the
Ex-Dividend Date for the Spin-Off.

The adjustment to the Conversion Rate under the preceding paragraph shall become effective at the
close of business on the tenth Trading Day immediately following, and including, the Ex-

55

 

Dividend Date for the Spin-Off; provided that, for purposes of determining the Conversion Rate, in respect
of any conversion during the 10 Trading Days immediately following, and including, the Ex-Dividend
Date for any Spin-Off, references in the portion of this Section 14.04(c) related to Spin-Offs to
10 Trading Days shall be deemed replaced with such lesser number of Trading
Days as have elapsed between the Ex-Dividend Date for such Spin-Off and the relevant Conversion
Date.

     For purposes of this Section 14.04(c) (and subject in all respect to Section 14.11), rights,
options or warrants distributed by the Company to all holders of its Common Stock entitling them to
subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either
initially or under certain circumstances), which rights, options or warrants, until the occurrence
of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares
of the Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future
issuances of the Common Stock, shall be deemed not to have been distributed for purposes of this
Section 14.04(c) (and no adjustment to the Conversion Rate under this Section 14.04(c) will be
required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or
warrants shall be deemed to have been distributed and an appropriate adjustment (if any is
required) to the Conversion Rate shall be made under this Section 14.04(c). If any such right,
option or warrant, including any such existing rights, options or warrants distributed prior to the
date of this Indenture, are subject to events, upon the occurrence of which such rights, options or
warrants become exercisable to purchase different securities, evidences of indebtedness or other
assets, then the date of the occurrence of any and each such event shall be deemed to be the date
of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such
rights (in which case the existing rights, options or warrants shall be deemed to terminate and
expire on such date without exercise by any of the holders thereof). In addition, in the event of
any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or
other event (of the type described in the immediately preceding sentence) with respect thereto that
was counted for purposes of calculating a distribution amount for which an adjustment to the
Conversion Rate under this Section 14.04(c) was made, (1) in the case of any such rights, options
or warrants that shall all have been redeemed or purchased without exercise by any holders thereof,
upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such
rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be
readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case
may be, as though it were a cash distribution, equal to the per share redemption or purchase price
received by a holder or holders of Common Stock with respect to such rights, options or warrants
(assuming such holder had retained such rights, options or warrants), made to all holders of Common
Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or
warrants that shall have expired or been terminated without exercise by any holders thereof, the
Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued.

     For purposes of Section 14.04(a), Section 14.04(b) and this Section 14.04(c), any dividend or
distribution to which this Section 14.04(c) is applicable that also includes one or both of:

     (A) a dividend or distribution of shares of Common Stock to which Section 14.04(a) is
applicable (the “Clause A Distribution”); or

56

 

     (B) a dividend or distribution of rights, options or warrants to which Section 14.04(b) is
applicable (the “Clause B Distribution”),

(1) other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a
dividend or distribution to which this Section 14.04(c) is applicable (the “Clause C Distribution”)
and any Conversion Rate adjustment required by this Section 14.04(c) with respect to such Clause C
Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall
be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment
required by Section 14.04(a) and Section 14.04(b) with respect thereto shall then be made, except
that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the
Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and
(II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution
shall be deemed not to be “outstanding immediately prior to the open of business on the Ex-Dividend
Date for such dividend or distribution, or immediately prior to the open of business on the
effective date of such share split or share combination, as the case may be” within the meaning of
Section 14.04(a) or “outstanding immediately prior to the open of business on the Ex-Dividend Date
for such distribution” within the meaning of Section 14.04(b).

     (d) If any cash dividend or distribution is made to all or substantially all holders of the
Common Stock, the Conversion Rate shall be increased based on the following formula:

	 	 	 	 	 

	CR’= CR0 x

	 	SP0
 

SP0 – C
	 	 

where

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect immediately prior to
the open of business on the Ex-Dividend Date for
such dividend or distribution;
	 
	 	 	 	 
	CR’

	 	=
	 	the Conversion Rate in effect immediately after
the open of business on the Ex-Dividend Date for
such dividend or distribution;
	 
	 	 	 	 
	SP0

	 	=
	 	the average of the Last Reported Sale Prices of
the Common Stock over the 10 consecutive Trading
Day period ending on, and including, the Trading
Day immediately preceding the Ex-Dividend Date for
such dividend or distribution; and
	 
	 	 	 	 
	C

	 	=
	 	the amount in cash per share the Company
distributes to holders of its Common Stock.

Any increase pursuant to this Section 14.04(d) shall become effective immediately after the open of
business on the Ex-Dividend Date for such dividend or distribution. If such dividend or
distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the
Board of Directors determines not to make or pay such dividend or distribution, to the Conversion
Rate that would then be in effect if such dividend or distribution had not been declared.
Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than
“SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall
receive,

57

 

for each $1,000 principal amount of Notes, at the same time and upon the same terms as
holders of shares of the Common Stock, the amount of cash that such Holder would have received if
such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the
Ex-Dividend Date for such cash dividend or distribution.

     (e) If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or
exchange offer for the Common Stock and the cash and value of any other consideration included in
the payment per share of the Common Stock exceeds the average of the Last Reported Sale Prices of
the Common Stock over the 10 consecutive Trading-Day period commencing on, and including, the
Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to
such tender or exchange offer (the “Expiration Date”), the Conversion Rate shall be increased based
on the following formula:

	 	 	 	 	 

	CR’ = CR0 x

	 	FMV + (SP’ x OS’ )
 

OS0 x SP’
	 	 

     where

	 	 	 	 	 	 	 

	 

	 	CR0
	 	=
	 	the Conversion Rate in effect at the close of business on the last Trading
Day of the period of 10 consecutive Trading Days commencing on, and including, the
Trading Day next succeeding the Expiration Date;
	 
	 

	 	CR’
	 	=
	 	the Conversion Rate in effect at the open of business on first day following
the last Trading Day of the period of 10 consecutive Trading Days commencing on, and
including, the Trading Day next succeeding the Expiration Date;
	 
	 

	 	FMV
	 	=
	 	the fair market value (as determined by the Board of Directors), on the
Expiration Date, of the aggregate value of all cash and any other consideration paid or
payable for shares validly tendered or exchanged as of the Expiration Date;
	 
	 

	 	OS’
	 	=
	 	the number of shares of Common Stock outstanding immediately after the time
(the “Expiration Time”) tender or exchange offer expires (after giving effect to such
tender offer or exchange offer);
	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding immediately prior to the
Expiration Time (prior to giving effect to such tender offer or exchange offer); and
	 
	 

	 	SP’
	 	=
	 	the average of the Last Reported Sale Prices of Common Stock over the 10
consecutive Trading Day period commencing on, and including, the Trading Day next
succeeding the date such tender or exchange offer expires.

The adjustment to the Conversion Rate under this Section 14.04(e) shall occur at the close of
business on the 10th Trading Day immediately following the Expiration Date; provided that, for

58

 

purposes of determining the Conversion Rate, in respect of any conversion during the 10 Trading
Days following, and including, the Trading Day next succeeding the Expiration Date, references in
this Section 14.04(e) with respect to 10 Trading Days shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the Trading Day next succeeding the date that such
tender or exchange offer expires and the relevant Conversion Date. If the Company is obligated to
purchase shares pursuant to any such tender offer or exchange offer, but the Company is permanently
prevented by applicable law from effecting any or all or any portion of such purchases or all such
purchases are rescinded, the Conversion Rate shall again be adjusted to be the Conversion Rate that
would then be in effect if such tender offer or exchange offer had not been made or had been made
only in respect of the purchases that have been effected.

     (f) Notwithstanding this Section 14.04 or any other provision of this Indenture or the Notes,
if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date, and a Holder that has
converted its Notes on or after such Ex-Dividend Date and on or prior to the related Record Date
would be treated as the record holder of the shares of Common Stock as of the related Conversion
Date as described under Section 14.02(i) based on an adjusted Conversion Rate for such Ex-Dividend
Date, then, notwithstanding the Conversion Rate adjustment provisions in this Section 14.04, the
Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting
Holder. Instead, such Holder shall be treated as if such Holder were the record owner of the shares
of Common Stock on an unadjusted basis and participate in the related dividend, distribution or
other event giving rise to such adjustment.

     (g) Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance
of shares of its Common Stock or any securities convertible into or exchangeable for shares of its
Common Stock or the right to purchase shares of its Common Stock or such convertible or
exchangeable securities.

     (h) In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this
Section 14.04, and to the extent permitted by applicable law and subject to the applicable rules of
The NASDAQ Global Market, the Company from time to time may increase the Conversion Rate by any
amount for a period of at least 20 Business Days if the Board of Directors determines that such
increase would be in the Company’s best interest. In addition, the Company may (but is not
required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common
Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares
(or rights to acquire shares) or similar event. Whenever the Conversion Rate is increased pursuant
to either of the preceding two sentences, the Company shall mail to the Holder of each Note at its
last address appearing on the Note Register a notice of the increase at least 15 days prior to the
date the increased Conversion Rate takes effect, and such notice shall state the increased
Conversion Rate and the period during which it will be in effect.

     (i) Notwithstanding anything to the contrary in this Article 14, the Conversion Rate shall not
be adjusted:

     (i) upon 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

59

 

Company’s securities and the investment of additional optional amounts in shares of Common Stock under
any plan;

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

     (iii) upon the issuance of any shares of the Common Stock pursuant to any option,
warrant, right or exercisable, exchangeable or convertible security not described in clause
(ii) of this subsection and outstanding as of the date the Notes were first issued;

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

     (v) for accrued and unpaid interest, if any.

     (j) All calculations and other determinations under this Article 14 shall be made by the
Company and shall be made to the nearest one-ten thousandth (1/10,000) of a share.

     (k) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly
file with the Trustee (and the Conversion Agent if not the Trustee) an Officers’ Certificate
setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the
facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee shall have
received such Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any
adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of
which it has knowledge is still in effect. Promptly after delivery of such certificate, the
Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted
Conversion Rate and the date on which each adjustment becomes effective and shall mail such notice
of such adjustment of the Conversion Rate to each Holder at its last address appearing on the Note
Register of this Indenture. Failure to deliver such notice shall not affect the legality or
validity of any such adjustment.

     (l) For purposes of this Section 14.04, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Company so long as the Company
does not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock.

     Section 14.05. Adjustments of Prices. Whenever any provision of this Indenture requires the
Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or
the Daily Settlement Amounts over a span of multiple days (including an Observation Period and the
period for determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board
of Directors shall make appropriate adjustments to each to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate
where the Ex-Dividend Date of the event occurs, at any time during the period when the Last
Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts
are to be calculated.

60

 

     Section 14.06. 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 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 is applicable).

     Section 14.07. Effect of Recapitalizations, Reclassifications and Changes of the Common
Stock.

     (a) In the case of:

     (i) any recapitalization, reclassification or change of the Common Stock (other than
changes resulting from a subdivision or combination),

     (ii) any consolidation, merger or combination involving the Company,

     (iii) any sale, lease or other transfer to a third party of the consolidated assets of
the Company and the Company’s Subsidiaries substantially as an entirety or

     (iv) any statutory share exchange,

in each case, as a result of which the Common Stock would be converted into, or exchanged for,
stock, other securities, other property or assets (including cash or any combination thereof) (any
such event, a “Merger Event”), then, at and after the effective time of such Merger Event, the
right to convert each $1,000 principal amount of Notes shall be changed into a right to convert
such principal amount of Notes into the kind and amount of shares of stock, other securities or
other property or assets (including cash or any combination thereof) that a holder of a number of
shares of Common Stock equal to the Conversion Rate immediately prior to such Merger Event would
have owned or been entitled to receive (the “Reference Property”, with each “unit of Reference
Property” meaning the kind and amount of Reference Property that a holder of one share of Common
Stock is entitled to receive) upon such Merger Event and, prior to or at the effective time of such
Merger Event, the Company or the successor or purchasing Person, as the case may be, shall execute
with the Trustee a supplemental indenture permitted under Section 10.01(f) providing for such
change in the right to convert each $1,000 principal amount of Notes; provided, however, that at
and after the effective time of the Merger Event (A) the Company shall continue to have the right
to determine the form of consideration to be paid or delivered, as the case may be, upon conversion
of Notes in accordance with Section 14.02 and (B) (I) any amount payable in cash upon conversion of
the Notes in accordance with Section 14.02 shall continue to be payable in cash, (II) any shares of
Common Stock that the Company would have been required to deliver upon conversion of the Notes in
accordance with Section 14.02 shall instead be deliverable in the amount and type of Reference
Property that a holder of that number of shares of Common Stock would have been entitled to receive
in such Merger Event and (III) the Daily VWAP shall be calculated based on the value of a unit of
Reference Property.

     If the Merger Event causes the Common Stock to be converted into, or exchanged for, the right
to receive more than a single type of consideration (determined based in part upon any form of
stockholder election), then (i) the Reference Property into which the Notes will be convertible
shall be deemed to be the weighted average of the types and amounts of consideration received

61

 

by the holders of Common Stock that affirmatively make such an election, and (ii) the unit of
Reference Property for purposes of the immediately preceding paragraph shall refer to the
consideration referred to in clause (i) attributable to one share of Common Stock. If the holders
receive only cash in such Merger Event, then for all conversions that occur after the effective
date of such Merger Event (x) the consideration due upon conversion of each $1,000 principal amount
of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion
Date (as may be increased by any Additional Shares pursuant to Section 14.03), multiplied by the
price paid per share of Common Stock in such Merger Event and (y) the Company shall satisfy the
Conversion Obligation by paying cash to converting Holders on the third Business Day immediately
following the Conversion Date. The Company shall notify Holders, the Trustee and the Conversion
Agent (if other than the Trustee) in writing of such weighted average as soon as practicable after
such determination is made.

     Such supplemental indenture described in the second immediately preceding paragraph shall
provide for adjustments that shall be as nearly equivalent as is possible to the adjustments
provided for in this Article 14. If, in the case of any Merger Event, the Reference Property
includes shares of stock or other securities or other property or assets (including cash or any
combination thereof) of a Person other than the successor or purchasing corporation, as the case
may be, in such Merger Event, then such supplemental indenture shall also be executed by such other
Person and shall contain such additional provisions to protect the interests of the Holders of the
Notes as the Board of Directors shall reasonably consider necessary by reason of the foregoing,
including to the extent required by the Board of Directors and practicable the provisions providing
for the purchase rights set forth in Article 15.

     (b) In the event the Company shall execute a supplemental indenture pursuant to subsection (a)
of this Section 14.07, the Company shall promptly file with the Trustee an Officers’ Certificate
briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset
that will comprise the Reference Property after any such Merger Event, any adjustment to be made
with respect thereto and that all conditions precedent have been complied with, and shall promptly
deliver notice thereof to all Holders. The Company shall cause notice of the execution of such
supplemental indenture to be mailed to each Holder, at its address appearing on the Note Register
provided for in this Indenture, within 20 days after execution thereof. Failure to deliver such
notice shall not affect the legality or validity of such supplemental indenture.

     (c) The Company shall not become a party to any Merger Event unless its terms are consistent
with this Section 14.07. None of the foregoing provisions shall affect the right of a holder of
Notes to convert its Notes into cash, shares of Common Stock or a combination of cash and shares of
Common Stock, as applicable, as set forth in Section 14.01 and Section 14.02 prior to the effective
date of such Merger Event.

     (d) The above provisions of this Section shall similarly apply to successive Merger Events.

     Section 14.08. Certain Covenants. (a) The Company covenants that all shares of Common Stock
issued upon conversion of Notes will be fully paid and non-assessable by the Company and free from
all taxes, liens and charges with respect to the issue thereof.

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     (b) The Company covenants that, if any shares of Common Stock to be provided for the purpose
of conversion of Notes hereunder require registration with or approval of any governmental
authority under any federal or state law before such shares may be validly issued upon conversion,
the Company will, to the extent then permitted by the rules and interpretations of the Commission,
secure such registration or approval, as the case may be.

     (c) The Company further covenants that if at any time the Common Stock shall be listed on any
national securities exchange or automated quotation system the Company will list and keep listed,
so long as the Common Stock shall be so listed on such exchange or automated quotation system, any
Common Stock issuable upon conversion of the Notes.

     Section 14.09. Responsibility of Trustee. The Trustee and any other 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 any other Conversion Agent
shall not be accountable with respect to the validity or value (or the kind or amount) of any
shares of Common Stock, or of any securities, property or cash that may at any time be issued or
delivered upon the conversion of any Note; and the Trustee and any other Conversion Agent make no
representations with respect thereto. Neither the Trustee nor any Conversion Agent shall be
responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock
or stock certificates or other securities or property or cash upon the surrender of any Note for
the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the
Company contained in this Article. 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 14.07
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 14.07 or to any adjustment to be made with respect thereto, but, subject to the provisions
of Section 7.01, may accept (without any independent investigation) as conclusive evidence of the
correctness of any such provisions, and shall be protected in relying upon, the Officers’
Certificate (which the Company shall be obligated to file with the Trustee prior to the execution
of any such supplemental indenture) with respect thereto. Neither the Trustee nor the Conversion
Agent shall be responsible for determining whether any event contemplated by Section 14.01(b) 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
14.01(b) with respect to the commencement or termination of such conversion rights, on which
notices the Trustee and the Conversion Agent may conclusively rely, and the Company agrees to
deliver such notices to the Trustee and the Conversion Agent immediately after the occurrence of
any such event or at such other times as shall be provided for in Section 14.01(b).

     Section 14.10. Notice to Holders Prior to Certain Actions. In case of any:

     (a) action by the Company or one of its Subsidiaries that would require an adjustment in the
Conversion Rate pursuant to Section 14.04 or Section 14.11;

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     (b) Merger Event; or

     (c) voluntary or involuntary dissolution, liquidation or winding-up of the Company or any of
its Subsidiaries;

then, in each case (unless notice of such event is otherwise required pursuant to another provision
of this Indenture), the Company shall cause to be filed with the Trustee and the Conversion Agent
(if other than the Trustee) and to be mailed to each Holder at its address appearing on the Note
Register, as promptly as possible but in any event at least 20 days prior to the applicable date
hereinafter specified, a notice stating (i) the date on which a record is to be taken for the
purpose of such action by the Company or one of its Subsidiaries or, if a record is not to be
taken, the date as of which the holders of Common Stock of record are to be determined for the
purposes of such action by the Company or one of its Subsidiaries, or (ii) the date on which such
Merger Event, dissolution, liquidation or winding-up is expected to become effective or occur, and
the date as of which it is expected that holders of Common Stock of record shall be entitled to
exchange their Common Stock for securities or other property deliverable upon such Merger Event,
dissolution, liquidation or winding-up. Failure to give such notice, or any defect therein, shall
not affect the legality or validity of such action by the Company or one of its Subsidiaries,
Merger Event, dissolution, liquidation or winding-up.

     Section 14.11. Stockholder Rights Plans. To the extent that the Company has a rights plan in
effect upon conversion of the Notes, each share of Common Stock, if any, issued upon such
conversion shall be entitled to receive the appropriate number of rights, if any, and the
certificates representing the Common Stock issued upon such conversion shall bear such legends, if
any, in each case as may be provided by the terms of any such stockholder rights plan, as the same
may be amended from time to time. If at the time of conversion, however, the rights have separated
from the shares of Common Stock in accordance with the provisions of the applicable stockholder
rights plan so that the Holders would not be entitled to receive any rights in respect of Common
Stock, if any, issuable upon conversion of the Notes, the Conversion Rate shall be adjusted at the
time of separation as if the Company distributed to all or substantially all holders of Common
Stock Distributed Property as provided in Section 14.04(c), subject to readjustment in the event of
the expiration, termination or redemption of such rights.

     Section 14.12. Exchange In Lieu Of Conversion. (a) When a Holder surrenders its Notes for
conversion, the Company may, at its election, direct the Conversion Agent to surrender, on or prior
to the second Business Day following the relevant Conversion Date, such Notes to a financial
institution designated by the Company (the “Designated Institution”) for exchange in lieu of
conversion. In order to accept any Notes surrendered for conversion for exchange in lieu of
conversion, the Designated Institution must agree to timely deliver, in exchange for such Notes,
the cash, shares of Common Stock or combination of cash and shares of Common Stock, at the
Company’s election, that would otherwise be due upon conversion as described in Section 14.02 above
and in respect of which the Company has notified converting Holders. If the Company makes the
election described above, the Company shall, by the close of business on the second Business Day
following the relevant Conversion Date, notify the Holder surrendering Notes for conversion that it
has made such election. In addition, the Company shall concurrently notify the Designated
Institution of the relevant deadline for delivery of the consideration due upon conversion. Any
Notes exchanged by the Designated Institution will remain outstanding.

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     (b) If the Designated Institution agrees to accept any Notes for exchange but does not timely
deliver the related consideration due upon conversion to the Conversion Agent, or if the Designated
Institution does not accept such Notes for exchange, the Company shall, within the time period
specified in Section 14.02(c), convert such Notes into cash and shares of Common Stock, if any, in
accordance with the provisions of Section 14.02.

     (c) For the avoidance of doubt, in no event will the Company’s designation of a Designated
Institution pursuant to this Section 14.12 require the Designated Institution to accept any Notes
for exchange.

ARTICLE 15

Purchase of Notes at Option of Holders

     Section 15.01. Intentionally Omitted.

     Section 15.02. Purchase at Option of Holders Upon a Fundamental Change. (a) If there shall
occur a Fundamental Change at any time prior to the Maturity Date, then each Holder shall have the
right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s
Notes, or any portion thereof that is a multiple of $1,000 principal amount, on the date (the
“Fundamental Change Purchase Date”) specified by the Company that is not less than 20 calendar days
and not more than 35 calendar days after the date of the Fundamental Change Company Notice (as
defined below) at a purchase price equal to 100% of the principal amount thereof, together with
accrued and unpaid interest, if any, thereon to, but excluding, the Fundamental Change Purchase
Date (the “Fundamental Change Purchase Price”), unless the Fundamental Change Purchase Date is
after a Regular Record Date and on or prior to the immediately succeeding Interest Payment Date, in
which case interest accrued to the Interest Payment Date will be paid to Holders of the Notes as of
the immediately preceding Regular Record Date and the Fundamental Change Purchase Price payable to
the Holder surrendering the Note for purchase pursuant to this Section 15.02 shall be equal to the
principal amount of Notes subject to purchase.

     (b) Purchases of Notes under this Section 15.02 shall be made, at the option of the Holder
thereof, upon:

     (i) delivery to the Paying Agent by a Holder of a duly completed notice (the
“Fundamental Change Purchase Notice”) in the form set forth in Attachment 2 to the Form of
Note attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with
the Depositary’s procedures for surrendering interests in Global Notes, if the Notes are
Global Notes, in each case prior to the close of business on the Business Day immediately
preceding the Fundamental Change Purchase Date; and

     (ii) delivery of the Notes, if the Notes are Physical Notes, to the Paying Agent at any
time after delivery of the Fundamental Change Purchase Notice (together with all necessary
endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or book-entry
transfer of the Notes, if the Notes are Global Notes, in compliance with the procedures of
the Depositary, in each case such delivery being a condition to receipt by the Holder of the
Fundamental Change Purchase Price therefor.

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     The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall state:

     (i) in the case of Physical Notes, the certificate numbers of the Notes to be delivered
for purchase;

     (ii) the portion of the principal amount of Notes to be purchased, which must be $1,000
or a multiple thereof; and

     (iii) that the Notes are to be purchased by the Company pursuant to the applicable
provisions of the Notes and this Indenture;

provided, however, that if the Notes are Global Notes, the Fundamental Change Purchase Notice must
comply with appropriate Depositary procedures.

     Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the
Fundamental Change Purchase Notice contemplated by this Section 15.02 shall have the right to
withdraw, in whole or in part, such Fundamental Change Purchase Notice at any time prior to the
close of business on the Business Day immediately preceding the Fundamental Change Purchase Date by
delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 15.03.

     The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Purchase Notice or written notice of withdrawal thereof.

     (c) On or before the 20th calendar day after the occurrence of the effective date of a
Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee and the
Paying Agent (in the case of a Paying Agent other than the Trustee) a written notice (the
“Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental
Change and of the purchase right at the option of the Holders arising as a result thereof. Such
notice shall be by first class mail or, in the case of Global Notes, in accordance with the
applicable procedures of the Depositary. Contemporaneously with providing such notice, the Company
shall publish a notice containing the information set forth in the Fundamental Change Company
Notice in a newspaper of general circulation in The City of New York or publish such information on
the Company’s website or through such other public medium as the Company may use at that time or
issue a press release containing the relevant information. Each Fundamental Change Company Notice
shall specify:

     (i) the events causing the Fundamental Change;

     (ii) the date the Fundamental Change occurred, and whether such Fundamental Change is a
Make-Whole Fundamental Change, in which case the Effective Date of such Make-Whole
Fundamental Change shall also be specified;

     (iii) the last date on which a Holder may exercise the purchase right pursuant to this
Article 15;

     (iv) the Fundamental Change Purchase Price;

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     (v) the Fundamental Change Purchase Date;

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

     (vii) if applicable, the Conversion Rate and any adjustments to the Conversion Rate
made or to be made on account of such Fundamental Change;

     (viii) if applicable, that the Notes with respect to which a Fundamental Change
Purchase Notice has been delivered by a Holder may be converted only if the Holder withdraws
the Fundamental Change Purchase Notice in accordance with the terms of this Indenture; and

     (ix) the procedures that Holders must follow to require the Company to purchase their
Notes.

     No failure of the Company to give the foregoing notices and no defect therein shall limit the
Holders’ purchase rights or affect the validity of the proceedings for the purchase of the Notes
pursuant to this Section 15.02.

     At the Company’s expense and written request, the Trustee shall give such notice in the
Company’s name and at the Company’s expense; provided, however, that, in all cases, the text of
such Fundamental Change Company Notice shall be prepared by the Company.

     (d) Notwithstanding the foregoing, no Notes may be purchased by the Company on any date at the
option of the Holders upon a Fundamental Change if the principal amount of the Notes has been
accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the
case of an acceleration resulting from a Default by the Company in the payment of the Fundamental
Change Purchase Price with respect to such Notes). The Paying Agent will promptly return to the
respective Holders thereof any Physical Notes held by it during the acceleration of the Notes
(except in the case of an acceleration resulting from a Default by the Company in the payment of
the Fundamental Change Purchase Price with respect to such Notes), or any instructions for
book-entry transfer of the Notes in compliance with the procedures of the Depositary shall be
deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the
Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn.

     Section 15.03. Withdrawal of Fundamental Change Purchase Notice. (a) A Fundamental Change
Purchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal
delivered to the Corporate Trust Office of the Paying Agent in accordance with this Section 15.03
at any time prior to the close of business on the Business Day immediately preceding the
Fundamental Change Purchase Date, specifying:

     (i) the principal amount of the Notes with respect to which such notice of withdrawal
is being submitted, which amount must be $1,000 or a multiple thereof,

     (ii) if Physical Notes have been issued, the certificate number of the Note in respect
of which such notice of withdrawal is being submitted, and

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     (iii) the principal amount, if any, of such Note that remains subject to the original
Fundamental Change Purchase Notice, which portion must be in principal amounts of $1,000 or
a multiple of $1,000;

provided, however, that if the Notes are Global Notes, the notice must comply with appropriate
procedures of the Depositary.

     Section 15.04. Deposit of Fundamental Change Purchase Price. (a) The Company will deposit
with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as
its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) on or
prior to 11:00 a.m., New York City time, on the Fundamental Change Purchase Date an amount of money
sufficient to purchase all of the Notes to be purchased at the appropriate Fundamental Change
Purchase Price. Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent
appointed by the Company), payment for Notes surrendered for purchase (and not withdrawn prior to
the close of business on the Business Day immediately preceding the Fundamental Change Purchase
Date) will be made on the later of (i) the Fundamental Change Purchase Date with respect to such
Note (provided the Holder has satisfied the conditions in Section 15.02) and (ii) the time of
book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by
the Company) by the Holder thereof in the manner required by Section 15.02 by mailing checks for
the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note
Register; provided, however, that payments to the Depositary shall be made by wire transfer of
immediately available funds to the account of the Depositary or its nominee. The Trustee shall,
promptly after such payment and upon written demand by the Company, return to the Company any funds
in excess of the Fundamental Change Purchase Price.

     (b) If by 11:00 a.m. New York City time, on the Fundamental Change Purchase Date, the Trustee
(or other Paying Agent appointed by the Company) holds money or securities sufficient to make
payment on all the Notes or portions thereof that are to be purchased on such Fundamental Change
Purchase Date, then (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue
on such Notes (whether or not book-entry transfer of the Notes has been made or the Notes have been
delivered to the Trustee or Paying Agent) and (iii) all other rights of the Holders of such Notes
will terminate (other than the right to receive the Fundamental Change Purchase Price, and subject
to Section 15.02(a), previously accrued and unpaid interest upon delivery or transfer of such
Notes).

     (c) Upon surrender of a Note that is to be purchased in part pursuant to Section 15.02, the
Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an
authorized denomination equal in principal amount to the unpurchased portion of the Note
surrendered.

     Section 15.05. Covenant to Comply with Applicable Laws Upon Purchase of Notes. In connection
with any purchase offer, the Company will, to the extent required:

     (a) comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules
under the Exchange Act that may then be applicable;

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     (b) file a Schedule TO or any successor or similar schedule required under the Exchange Act;
and

     (c) otherwise comply with all federal and state securities laws in connection with any offer
by the Company to purchase the Notes;

in each case, so as to permit the rights and obligations under this Article 15 to be exercised in
the time and in the manner specified in this Article 15.

     Notwithstanding anything to the contrary provided in this Indenture, compliance by the Company
with Rule 13e-4, Rule 14e-1 and any other tender offer rule under the Exchange Act in accordance
with clause (a) above, to the extent inconsistent with any other provision of this Indenture, will
not, standing alone, constitute an Event of Default solely as a result of compliance by the Company
with such rules.

ARTICLE 16

Optional Redemption

     Section 16.01. Optional Redemption. No sinking fund is provided for the Notes. The Notes
shall not be redeemable by the Company prior to June 20, 2014. On or after (i) June 20, 2014, if
the Last Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price for
at least 20 Trading Days (whether or not consecutive) during any 30 consecutive Trading Day period
ending within five Trading Days prior to the date on which the Company provides notice of
redemption as set forth in Section 16.02 and (ii) June 20, 2015, irrespective of the sale price
condition described in clause (i), the Company may redeem (an “Optional Redemption”) for cash all
or part of the Notes, upon notice as set forth in Section 16.02, at a redemption price equal to
100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any,
to, but excluding, the Redemption Date (the “Redemption Price”) (unless the Redemption Date falls
after a Regular Record Date but on or prior to the immediately succeeding Interest Payment Date, in
which case interest accrued to the Interest Payment Date will be paid to Holders of record of such
Notes on such Regular Record Date, and the Redemption Price will be equal to 100% of the principal
amount of the Notes to be redeemed).

     Section 16.02. Notice of Optional Redemption; Selection of Notes.

     (a) In case the Company exercises its Optional Redemption right to redeem all or, as the case
may be, any part of the Notes pursuant to Section 16.01, it shall fix a date for redemption (each,
a “Redemption Date”) and it or, at its written request received by the Trustee not less than 50
calendar days prior to the Redemption Date (or such shorter period of time as may be acceptable to
the Trustee), the Trustee, in the name of and at the expense of the Company, shall mail or cause to
be mailed a notice of such Optional Redemption (a “Redemption Notice”) not less than 40 nor more
than 60 calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed as a
whole or in part at its last address as the same appears on the Note

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Register; provided, however, that if the Company shall give such notice, it shall also give
written notice of the Redemption Date to the Trustee.

     (b) The Redemption Notice, if mailed in the manner herein provided, shall be conclusively
presumed to have been duly given, whether or not the Holder receives such notice. In any case,
failure to give such Redemption Notice by mail or any defect in the Redemption Notice to the Holder
of any Note designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Note.

     (c) Each Redemption Notice shall specify:

     (i) the Redemption Date (which must be a Business Day);

     (ii) the Redemption Price;

     (iii) that on the Redemption Date, the Redemption Price will become due and payable
upon each such Note, and that interest thereon, if any, shall cease to accrue on and after
said date;

     (iv) the place or places where such Notes are to be surrendered for payment of the
Redemption Price;

     (v) that Holders may surrender their Notes for conversion at any time prior to the
close of business on the third Scheduled Trading Day immediately preceding the Redemption
Date;

     (vi) the procedures a converting Holder must follow to convert its Notes and the
Settlement Method and Specified Cash Amount, if applicable;

     (vii) the Conversion Rate and, if applicable, the number of Additional Shares added to
the Conversion Rate in accordance with Section 14.03;

     (viii) the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and

     (ix) in case any Note is to be redeemed in part only, the portion of the principal
amount thereof to be redeemed and on and after the Redemption Date, upon surrender of such
Note, a new Note in principal amount equal to the unredeemed portion thereof shall be
issued.

A Redemption Notice shall be irrevocable.

     (d) If fewer than all of the outstanding Notes are to be redeemed, the Trustee shall select
the Notes or portions thereof of a Global Note or the Notes in certificated form to be redeemed (in
principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method
the Trustee considers to be fair and appropriate; provided that, to the extent the Notes to be
redeemed in part are represented by a Global Note, such method shall comply with the applicable
procedures of the Depositary. If any Note selected for partial redemption is

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submitted for conversion in part after such selection, the portion of the Note submitted for
conversion shall be deemed (so far as may be possible) to be the portion selected for redemption.
In the event of any redemption in part, the Company shall not be required to (i) issue, register
the transfer of or exchange any Notes during a period beginning at the open of business 15 calendar
days before the mailing of a Redemption Notice and ending at the close of business on the day of
such mailing or (ii) register the transfer of or exchange any Notes so selected for redemption, in
whole or in part, except the unredeemed portion of any Notes being redeemed in part.

     Section 16.03. Payment of Notes Called for Redemption.

     (a) If any Redemption Notice has been given in respect of the Notes in accordance with Section
16.02, the Notes shall become due and payable on the Redemption Date at the place or places stated
in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of
the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid and
redeemed by the Company at the applicable Redemption Price.

     (b) Prior to the open of business on the Redemption Date, the Company shall deposit with the
Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall
segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately available
funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the
Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent,
payment for the Notes to be redeemed shall be made promptly after the later of:

     (i) the Redemption Date for such Notes; and

     (ii) the time of presentation of such Note to the Trustee (or other Paying Agent
appointed by the Company) by the Holder thereof in the manner required by this Section
16.03.

The Paying Agent shall, promptly after such payment and upon written demand by the Company, return
to the Company any funds in excess of the Redemption Price.

     Section 16.04. Restrictions on Redemption. The Company may not redeem any Notes on any date
if the principal amount of the Notes has been accelerated in accordance with the terms of this
Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except
in the case of an acceleration resulting from a Default by the Company in the payment of the
Redemption Price with respect to such Notes).

ARTICLE 17

Miscellaneous Provisions

     Section 17.01. Provisions Binding on Company’s Successors. All the covenants, stipulations,
promises and agreements of the Company contained in this Indenture shall bind its successors and
assigns whether so expressed or not.

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     Section 17.02. Official Acts by Successor Corporation. Any act or proceeding by any
provision of this Indenture authorized or required to be done or performed by any board, committee
or Officer of the Company shall and may be done and performed with like force and effect by the
like board, committee or officer of any corporation or other entity that shall at the time be the
lawful sole successor of the Company.

     Section 17.03. Addresses for Notices, Etc. Any notice or demand that by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Holders on
the Company shall be deemed to have been sufficiently given or made, for all purposes if given or
served by being deposited postage prepaid by registered or certified mail in a post office letter
box, or telecopied, addressed (until another address is filed by the Company with the Trustee) to
Insulet Corporation, 9 Oak Park Drive, Bedford, Massachusetts 01730, Attention: General Counsel,
facsimile (781) 457-5011. Any notice, direction, request or demand hereunder to or upon the Trustee
shall be deemed to have been sufficiently given or made, for all purposes, if given or served by
being deposited postage prepaid by registered or certified mail in a post office letter box
addressed to the Corporate Trust Office.

     The Trustee, by notice to the Company, may designate additional or different addresses for
subsequent notices or communications.

     Any notice or communication sent to a Holder shall be sent electronically (in the case of a
Global Note) or mailed to it by first class mail, postage prepaid, at its address as it appears on
the Note Register and shall be sufficiently given to it if so mailed within the time prescribed.

     Failure to send a notice or communication to a Holder or any defect in it shall not affect its
sufficiency with respect to other Holders. If a notice or communication is mailed in the manner
provided above, it is duly given, whether or not the addressee receives it.

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

     Section 17.04. Governing Law. THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF
LAWS PROVISIONS THEREOF).

     Section 17.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of
Counsel to Trustee. Upon any application or demand by the Company to the Trustee to take any
action under any of the provisions of this Indenture, the Company shall, if requested by the
Trustee, furnish to the Trustee an Officers’ Certificate stating that all conditions precedent to
such action have been satisfied and such action is permitted by the terms of this Indenture.

     Each Officers’ Certificate provided for, by or on behalf of the Company in this Indenture and
delivered to the Trustee with respect to compliance with this Indenture (other than the Officers’
Certificates provided for in Section 4.08) shall include (a) a statement that the Person

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making such certificate is familiar with the requested action and this Indenture; (b) a brief
statement as to the nature and scope of the examination or investigation upon which the statement
contained in such certificate is based; (c) a statement that, in the judgment of such person, he or
she has made such examination or investigation as is necessary to enable him or her to express an
informed judgment as to whether or not such action is permitted by this Indenture; and (d) a
statement as to whether or not, in the judgment of such Person, all conditions precedent to such
action have been satisfied and such action is permitted by this Indenture.

     Notwithstanding anything to the contrary in this Section 17.05, if any provision in this
Indenture specifically provides that the Trustee shall or may receive an Opinion of Counsel in
connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall
be entitled to, or entitled to request, such Opinion of Counsel.

     Section 17.06. Legal Holidays. In any case where any Interest Payment Date, Fundamental
Change Purchase Date, Conversion Date or Maturity Date is not a Business Day, then any action to be
taken on such date need not be taken on such date, but may be taken on the next succeeding Business
Day with the same force and effect as if taken on such date, and no interest shall accrue in
respect of the delay.

     Section 17.07. No Security Interest Created. Nothing in this Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction.

     Section 17.08. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed
or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any
Conversion Agent, any authenticating agent, any Note Registrar and their successors hereunder or
the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

     Section 17.09. Table of Contents, Headings, Etc. The table of contents and the titles and
headings of the articles and sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.

     Section 17.10. Authenticating Agent. The Trustee may appoint an authenticating agent that
shall be authorized to act on its behalf and subject to its direction in the authentication and
delivery of Notes in connection with the original issuance thereof and transfers and exchanges of
Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06, Section 2.07, Section
10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had
been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes.
For all purposes of this Indenture, the authentication and delivery of Notes by the authenticating
agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a
certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be
deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of
authentication. Such authenticating agent shall at all times be a Person eligible to serve as
trustee hereunder pursuant to Section 7.08.

73

 

     Any corporation or other entity into which any authenticating agent may be merged or converted
or with which it may be consolidated, or any corporation or other entity resulting from any merger,
consolidation or conversion to which any authenticating agent shall be a party, or any corporation
or other entity succeeding to all or substantially all the corporate trust business of any
authenticating agent, shall be the successor of the authenticating agent hereunder, if such
successor corporation or other entity is otherwise eligible under this Section 17.10, without the
execution or filing of any paper or any further act on the part of the parties hereto or the
authenticating agent or such successor corporation or other entity.

     Any authenticating agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time terminate the agency of any authenticating
agent by giving written notice of termination to such authenticating agent and to the Company.
Upon receiving such a notice of resignation or upon such a termination, or in case at any time any
authenticating agent shall cease to be eligible under this Section, the Trustee may appoint a
successor authenticating agent (which may be the Trustee), shall give written notice of such
appointment to the Company and shall mail notice of such appointment to all Holders as the names
and addresses of such Holders appear on the Note Register.

     The Company agrees to pay to the authenticating agent from time to time reasonable
compensation for its services although the Company may terminate the authenticating agent, if it
determines such agent’s fees to be unreasonable.

     The provisions of Section 7.02, Section 7.03, Section 7.04, Section 8.03 and this Section
17.10 shall be applicable to any authenticating agent.

     If an authenticating agent is appointed pursuant to this Section 17.10, the Notes may have
endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative
certificate of authentication in the following form:

                                                            ,

as Authenticating Agent, certifies that this is one of the Notes described

in the within-named Indenture.

By:                                                 

       Authorized Signatory

     Section 17.11. Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute
but one and the same instrument. The exchange of copies of this Indenture and of signature pages
by facsimile or PDF transmission shall constitute effective execution and delivery of this
Indenture as to the parties hereto and may be used in lieu of the original Indenture for all
purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes.

     Section 17.12. Severability. In the event any provision of this Indenture or in the Notes
shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity,
legality or enforceability of the remaining provisions shall not in any way be affected or
impaired.

74

 

     Section 17.13. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION
CONTEMPLATED HEREBY.

     Section 17.14. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts that are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

     Section 17.15. Calculations. Except as otherwise provided herein, the Company shall be
responsible for making all calculations called for under the Notes. These calculations include,
but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock,
accrued interest payable on the Notes and the Conversion Rate of the Notes. The Company shall make
all these calculations in good faith and, absent manifest error, the Company’s calculations shall
be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations
to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is
entitled to rely conclusively upon the accuracy of the Company’s calculations without independent
verification. The Trustee will forward the Company’s calculations to any Holder of Notes upon the
written request of that Holder at the sole cost and expense of the Company.

     Section 17.16. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with
Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and 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 parties to this Indenture agree that they will provide the Trustee
with such information as it may request in order for the Trustee to satisfy the requirements of the
U.S.A. Patriot Act.

     Section 17.17. Rules by Trustee and Agents. 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.

75

 

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

	 	 	 	 	 
	 	INSULET CORPORATION

 	 
	 	By:  	/s/ R. Anthony Diehl
 	 
	 	 	Name:  	R. Anthony Diehl 	 
	 	 	Title:  	General Counsel and
Secretary 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Lynn M. Steiner
 	 
	 	 	Name:  	Lynn M. Steiner 	 
	 	 	Title:  	Vice President 	 

 

 

EXHIBIT A

[FORM OF FACE OF NOTE]

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE]

     [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“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 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
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

A-1

 

Insulet Corporation

3.75% Convertible Senior Note due 2016

	 	 	 

	No. [       ]

	 	Initially $[                ]

CUSIP No.

     Insulet Corporation, a corporation duly organized and validly existing under the laws of the
State of Delaware (the “Company,” which term includes any successor corporation or other entity
under the Indenture referred to on the reverse hereof), for value received hereby promises to pay
to CEDE & CO., or registered assigns, the principal sum as set forth in the “Schedule of Exchanges
of Notes” attached hereto, which amount, taken together with the principal amounts of all other
outstanding Notes, shall not, unless permitted by the Indenture, exceed $[        ], in
accordance with the rules and procedures of the Depositary, on June 29, 2011, and interest thereon
as set forth below.

     This Note shall bear interest at the rate of 3.75% per year from June 29, 2011, or from the
most recent date to which interest had been paid or provided for to, but excluding, the next
scheduled Interest Payment Date until June 15, 2016. Accrued interest on this Note shall be
computed on the basis of a 360-day year composed of twelve 30-day months. Interest is payable
semi-annually in arrears on each June 15 and December 15, commencing on December 15, 2011, to
Holders of record at the close of business on the preceding June 1 and December 15 (whether or not
such day is a Business Day), respectively. Additional Interest will be payable as set forth in
Section 6.03 of the within-mentioned Indenture, and any reference to interest on, or in respect of,
any Note therein shall be deemed to include Additional Interest if, in such context, Additional
Interest is, was or would be payable pursuant to any of such Section 6.03 and any express mention
of the payment of Additional Interest in any provision therein shall not be construed as excluding
Additional Interest in those provisions thereof where such express mention is not made.

     Any Defaulted Amounts shall accrue interest per annum at the rate borne by the Notes from, and
including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts
shall have been paid by the Company, at its election, in accordance with Section 2.03(c) of the
Indenture.

     The Company shall pay, or cause the paying agent to pay, the principal of and interest on this
Note, so long as such Note is a Global Note, in immediately available funds to the Depositary or
its nominee, as the case may be, as the registered Holder of such Note. As provided in and subject
to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than
Notes that are Global Notes) at the office or agency designated by the Company for that purpose.
The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect
of the Notes and its agency in Minneapolis, Minnesota as a place where Notes may be presented for
payment or for registration of transfer.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions giving the Holder of this Note the right to convert this

A-2

 

Note into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as
applicable, on the terms and subject to the limitations set forth in the Indenture. Such further
provisions shall for all purposes have the same effect as though fully set forth at this place.

     This Note, and any claim, controversy or dispute arising under or related to this Note, shall
be construed in accordance with and governed by the laws of the State of New York (without regard
to the conflicts of laws provisions thereof).

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

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

[Remainder of page intentionally left blank]

A-3

 

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

	 	 	 	 	 
	 	INSULET CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee, certifies that this is one of the Notes described

in the within-named Indenture.

	 	 	 	 	 
	 	 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 

A-4

 

[FORM OF REVERSE OF NOTE]

Insulet Corporation

3.75% Convertible Senior Note due 2016

     This Note is one of a duly authorized issue of Notes of the Company, designated as its 3.75%
Convertible Senior Notes due 2016 (the “Notes”), limited to the aggregate principal amount of $[       
] all issued or to be issued under and pursuant to an Indenture dated as of June 29, 2011
(the “Indenture”), between the Company and Wells Fargo Bank, National Association (the “Trustee”),
to which Indenture and all indentures supplemental thereto reference is hereby made for a
description of the rights, limitations of rights, obligations, duties and immunities thereunder of
the Trustee, the Company and the Holders of the Notes. Additional Notes may be issued in an
unlimited aggregate principal amount, subject to certain conditions specified in the Indenture.

     In case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of, and interest on, all Notes may be declared, by either the Trustee or
Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said
declaration shall become, due and payable, in the manner, with the effect and subject to the
conditions and certain exceptions set forth in the Indenture.

     Subject to the terms and conditions of the Indenture, the Company will make all payments and
deliveries in respect of the Fundamental Change Purchase Price and the principal amount on the
Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect
such payments in respect of the Note. The Company will pay cash amounts in money of the United
States that at the time of payment is legal tender for payment of public and private debts.

     The Indenture contains provisions permitting the Company and the Trustee in certain
circumstances, without the consent of the Holders of the Notes, and in certain other circumstances,
with the consent of the Holders of not less than a majority in aggregate principal amount of the
Notes at the time outstanding, evidenced as in the Indenture provided, to execute supplemental
indentures modifying the terms of the Indenture and the Notes as described therein. It is also
provided in the Indenture that, subject to certain exceptions, the Holders of a majority in
aggregate principal amount of the Notes at the time outstanding may on behalf of the Holders of all
of the Notes waive any past Default or Event of Default under the Indenture and its consequences.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal (including the Fundamental Change Purchase Price, if applicable) of and accrued and
unpaid interest on this Note at the place, at the respective times, at the rate and in the lawful
money herein prescribed.

     The Notes are issuable in registered form without coupons in denominations of $1,000 principal
amount and multiples thereof. At the office or agency of the Company referred to on the face
hereof, and in the manner and subject to the limitations provided in the Indenture, Notes

A-5

 

may be exchanged for a like aggregate principal amount of Notes of other authorized
denominations, without payment of any service charge but, if required by the Company or Trustee,
with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in
connection therewith as a result of the name of the Holder of the new Notes issued upon such
exchange of Notes being different from the name of the Holder of the old Notes surrendered for such
exchange.

     The Notes shall be redeemable at the Company’s option in accordance with the terms and
conditions specified in the Indenture.

     Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s
option, to require the Company to purchase for cash all of such Holder’s Notes or any portion
thereof (in principal amounts of $1,000 or multiples thereof) on the Fundamental Change Purchase
Date at a price equal to the Fundamental Change Purchase Price.

     Subject to the provisions of the Indenture, the Holder hereof has the right, at its option,
during certain periods and upon the occurrence of certain conditions specified in the Indenture,
prior to the close of business on the second Scheduled Trading Day immediately preceding the
Maturity Date, to convert any Notes or portion thereof that is $1,000 or a multiple thereof, into
cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, at
the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the
Indenture.

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

A-6

 

ABBREVIATIONS

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

TEN COM = as tenants in common

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

CUST = Custodian

TEN ENT = as tenants by the entireties

JT TEN = joint tenants with right of survivorship and not as tenants in common

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

A-7

 

SCHEDULE A

SCHEDULE OF EXCHANGES OF NOTES

Insulet Corporation

3.75% Convertible Senior Notes due 2016

     The initial principal amount of this Global Note is                      DOLLARS ($[                    ]). The
following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal amount of	 	 	Signature of	 
	 	 	 	 	 	 	 	 	 	 	this Global Note	 	 	authorized	 
	 	 	Amount of decrease	 	 	Amount of increase	 	 	following such	 	 	signatory of	 
	 	 	in principal amount	 	 	in principal amount	 	 	decrease or	 	 	Trustee or	 
	Date of exchange	 	of this Global Note	 	 	of this Global Note	 	 	increase	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

A-8

 

ATTACHMENT 1

[FORM OF NOTICE OF CONVERSION]

To: Insulet Corporation

     The undersigned registered owner of this Note hereby exercises the option to convert this
Note, or the portion hereof (that is $1,000 principal amount or a multiple thereof) below
designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock,
as applicable, in accordance with the terms of the Indenture referred to in this Note, and directs
that any cash payable and any shares of Common Stock issuable and deliverable upon such conversion,
together with any cash for any fractional share, and any Notes representing any unconverted
principal amount hereof, be issued and delivered to the registered Holder hereof unless a different
name has been indicated below. If any shares of Common Stock or any portion of this Note not
converted are to be issued in the name of a Person other than the undersigned, the undersigned will
pay all documentary, stamp or similar issue or transfer taxes, if any in accordance with Section
14.02(d) and Section 14.02(e) of the Indenture. Any amount required to be paid to the undersigned
on account of interest accompanies this Note.

	 	 	 

	Dated:                                                            

	 	                                                                          
      
	 
	 	 
	 

	 	                                                            
               
     

Signature(s)

                                        
                    

Signature Guarantee

Signature(s) must be guaranteed

by an eligible Guarantor Institution

(banks, stock brokers, savings and

loan associations and credit unions)

with membership in an approved

signature guarantee medallion program

pursuant to Securities and Exchange

Commission Rule 17Ad-15 if shares

of Common Stock are to be issued, or

Notes are to be delivered, other than

to and in the name of the registered holder.

Fill in for registration of shares if

to be issued, and Notes if to

1

 

be delivered, other than to and in the

name of the registered holder:

                                                                                

(Name)

                                                                                

(Street Address)

                                                                      
          

(City, State and Zip Code)

Please print name and address

	 	 	 

	 

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

	 	$                    ,000
	 
	 	 
	 

	 	NOTICE: The above signature(s) of the Holder(s) hereof must
correspond with the name as written upon the face of the Note
in every particular without alteration or enlargement or any
change whatever.
	 
	 	 
	 

	 	                                                                                

Social Security or Other Taxpayer

Identification Number

2

 

ATTACHMENT 2

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE]

To: Insulet Corporation

     The undersigned registered owner of this Note hereby acknowledges receipt of a notice from
Insulet Corporation (the “Company”) as to the occurrence of a Fundamental Change with respect to
the Company and specifying the Fundamental Change Purchase Date and requests and instructs the
Company to pay to the registered holder hereof in accordance with Section 15.02 of the Indenture
referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that
is $1,000 principal amount or a multiple thereof) below designated, and (2) if such Fundamental
Change Purchase Date does not fall during the period after a Regular Record Date and on or prior to
the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but
excluding, such Fundamental Change Purchase Date.

     In the case of Physical Notes, the certificate numbers of the Notes to be purchased are as set
forth below:

Dated:                                         

	 	 	 

	 

	 	                                                            

Signature(s)
	 
	 	 
	 

	 	                                                                         
       

Social Security or Other Taxpayer

Identification Number
	 
	 	 
	 

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

	 	$                    ,000
	 
	 	 
	 

	 	NOTICE: The above signature(s) of the Holder(s) hereof must
correspond with the name as written upon the face of the Note
in every particular without alteration or enlargement or any
change whatever.

1

 

ATTACHMENT 3

[FORM OF ASSIGNMENT AND TRANSFER]

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

Dated: ________________

___________________________

___________________________

Signature(s)

___________________________

Signature Guarantee

Signature(s) must be guaranteed by an

eligible Guarantor Institution (banks, stock

brokers, savings and loan associations and

credit unions) with membership in an approved

signature guarantee medallion program pursuant

to Securities and Exchange Commission

Rule 17Ad-15 if Notes are to be delivered, other

than to and in the name of the registered holder.

NOTICE: The signature on the assignment must correspond with the name as written upon the face of
the Note in every particular without alteration or enlargement or any change whatever.

1

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