Document:

Exhibit 4.1

 Exhibit 4.1 
 BROADWING CORPORATION 
 AND EACH OF THE GUARANTORS PARTY HERETO 
 3.125% CONVERTIBLE SENIOR DEBENTURES DUE 2026 
  

 INDENTURE 
 Dated
as of May 16, 2006 
 J.P. Morgan Trust Company, National Association 
 Trustee 

 CROSS-REFERENCE TABLE* 
  

			
	 Trust Indenture
Act Section
	  	 Indenture Section

	310(a)(1)	  	7.10
	      (a)(2)	  	7.10
	      (a)(3)	  	N.A.
	      (a)(4)	  	N.A.
	      (a)(5)	  	7.10
	      (b)	  	7.10
	      (c)	  	N.A.
	311(a)	  	7.11
	      (b)	  	7.11
	      (c)	  	N.A.
	312(a)	  	2.05
	      (b)	  	12.03
	      (c)	  	12.03
	313(a)	  	7.06
	      (b)(2)	  	7.06; 7.07
	      (c)	  	7.06; 12.02
	      (d)	  	7.06
	314(a)	  	4.03;12.02; 12.05
	      (c)(1)	  	12.04
	      (c)(2)	  	12.04
	      (c)(3)	  	N.A.
	      (e)	  	12.05
	      (f)	  	N.A.
	315(a)	  	7.01
	      (b)	  	7.05; 12.02
	      (c)	  	7.01
	      (d)	  	7.01
	      (e)	  	6.11
	316(a) (last sentence)	  	2.09
	      (a)(1)(A)	  	6.05
	      (a)(1)(B)	  	6.04
	      (a)(2)	  	N.A.
	      (b)	  	6.07
	      (c)	  	2.12
	317(a)(1)	  	6.08
	      (a)(2)	  	6.09
	      (b)	  	2.04
	318(a)	  	12.01
	      (b)	  	N.A.
	      (c)	  	12.01

 N.A. means not applicable. 
  

	*	This Cross Reference Table is not part of this Indenture. 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE 1
	DEFINITIONS AND INCORPORATION
	BY REFERENCE
			
	Section 1.01	  	Definitions	  	1
	Section 1.02	  	Other Definitions	  	10
	Section 1.03	  	Incorporation by Reference of Trust Indenture Act	  	11
	Section 1.04	  	Rules of Construction	  	11
	
	ARTICLE 2
	THE DEBENTURES
			
	Section 2.01	  	Form and Dating	  	12
	Section 2.02	  	Execution and Authentication	  	13
	Section 2.03	  	Registrar and Paying Agent	  	14
	Section 2.04	  	Paying Agent to Hold Money in Trust	  	14
	Section 2.05	  	Holder Lists	  	14
	Section 2.06	  	Transfer and Exchange	  	14
	Section 2.07	  	Replacement Debentures	  	26
	Section 2.08	  	Outstanding Debentures	  	26
	Section 2.09	  	Treasury Debentures	  	26
	Section 2.10	  	Temporary Debentures	  	26
	Section 2.11	  	Cancellation	  	27
	Section 2.12	  	Defaulted Interest	  	27
	
	ARTICLE 3
	REDEMPTION AND PREPAYMENT
			
	Section 3.01	  	Notices to Trustee	  	27
	Section 3.02	  	Selection of Debentures to Be Redeemed or Purchased	  	27
	Section 3.03	  	Notice of Redemption	  	28
	Section 3.04	  	Effect of Notice of Redemption	  	29
	Section 3.05	  	Deposit of Redemption or Purchase Price	  	29
	Section 3.06	  	Debentures Redeemed or Purchased in Part	  	29
	Section 3.07	  	Optional Redemption	  	29
	Section 3.08	  	Repurchase at Option of the Holder	  	30
	Section 3.09	  	Effect of a Repurchase Notice	  	31
	Section 3.10	  	Repurchase at Option of Holder Upon a Designated Event	  	31
	
	ARTICLE 4
	COVENANTS
			
	Section 4.01	  	Payment of Debentures	  	34
	Section 4.02	  	Maintenance of Office or Agency	  	34
	Section 4.03	  	Reports	  	35
	Section 4.04	  	Compliance Certificate	  	35
	Section 4.05	  	Taxes	  	36
	Section 4.06	  	Stay, Extension and Usury Laws	  	36
	Section 4.07	  	Corporate Existence	  	36
	Section 4.08	  	No Layering of Debt	  	36
	Section 4.09	  	Payments for Consent	  	37
	Section 4.10	  	Additional Debenture Guarantees	  	37

					
	
	ARTICLE 5
	SUCCESSORS
			
	Section 5.01	  	Merger, Consolidation, or Sale of Assets	  	37
	Section 5.02	  	Successor Corporation Substituted	  	38
	
	ARTICLE 6
	DEFAULTS AND REMEDIES
			
	Section 6.01	  	Events of Default	  	38
	Section 6.02	  	Acceleration	  	39
	Section 6.03	  	Other Remedies	  	40
	Section 6.04	  	Waiver of Past Defaults	  	40
	Section 6.05	  	Control by Majority	  	40
	Section 6.06	  	Limitation on Suits	  	40
	Section 6.07	  	Rights of Holders of Debentures to Receive Payment	  	41
	Section 6.08	  	Collection Suit by Trustee	  	41
	Section 6.09	  	Trustee May File Proofs of Claim	  	41
	Section 6.10	  	Priorities	  	42
	Section 6.11	  	Undertaking for Costs	  	42
	
	ARTICLE 7
	TRUSTEE
			
	Section 7.01	  	Duties of Trustee	  	42
	Section 7.02	  	Rights of Trustee	  	43
	Section 7.03	  	Individual Rights of Trustee	  	44
	Section 7.04	  	Trustee’s Disclaimer	  	44
	Section 7.05	  	Notice of Defaults	  	44
	Section 7.06	  	Reports by Trustee to Holders of the Debentures	  	44
	Section 7.07	  	Compensation and Indemnity	  	44
	Section 7.08	  	Replacement of Trustee	  	45
	Section 7.09	  	Successor Trustee by Merger, etc.	  	46
	Section 7.10	  	Eligibility; Disqualification	  	46
	Section 7.11	  	Preferential Collection of Claims Against Company	  	46
	
	ARTICLE 8
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
			
	Section 8.01	  	Option to Effect Legal Defeasance or Covenant Defeasance	  	47
	Section 8.02	  	Legal Defeasance and Discharge	  	47
	Section 8.03	  	Covenant Defeasance	  	47
	Section 8.04	  	Conditions to Legal or Covenant Defeasance	  	48
	Section 8.05	  	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	49
	Section 8.06	  	Repayment to Company	  	49
	Section 8.07	  	Reinstatement	  	50
	
	ARTICLE 9
	AMENDMENT, SUPPLEMENT AND WAIVER
			
	Section 9.01	  	Without Consent of Holders of Debentures	  	50
	Section 9.02	  	With Consent of Holders of Debentures	  	51
	Section 9.03	  	Compliance with Trust Indenture Act	  	53

  

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	Section 9.04	  	Revocation and Effect of Consents	  	53
	Section 9.05	  	Notation on or Exchange of Debentures	  	53
	Section 9.06	  	Trustee to Sign Amendments, etc.	  	53
	
	ARTICLE 10
	DEBENTURE GUARANTEES
			
	Section 10.01.	  	Guarantee	  	53
	Section 10.02.	  	Limitation on Guarantor Liability	  	54
	Section 10.03.	  	Execution and Delivery of Debenture Guarantee	  	55
	Section 10.04.	  	Guarantors May Consolidate, etc., on Certain Terms	  	55
	Section 10.05.	  	Releases	  	56
	
	 ARTICLE 11
 SATISFACTION AND DISCHARGE

			
	Section 11.01	  	Satisfaction and Discharge	  	56
	Section 11.02	  	Application of Trust Money	  	57
	
	ARTICLE 12
	MISCELLANEOUS
			
	Section 12.01	  	Trust Indenture Act Controls	  	58
	Section 12.02	  	Notices	  	58
	Section 12.03	  	Communication by Holders of Debentures with Other Holders of Debentures	  	59
	Section 12.04	  	Certificate and Opinion as to Conditions Precedent	  	59
	Section 12.05	  	Statements Required in Certificate or Opinion	  	59
	Section 12.06	  	Rules by Trustee and Agents	  	59
	Section 12.07	  	No Personal Liability of Directors, Officers, Employees and Stockholders	  	60
	Section 12.08	  	Governing Law	  	60
	Section 12.09	  	No Adverse Interpretation of Other Agreements	  	60
	Section 12.10	  	Successors	  	60
	Section 12.11	  	Severability	  	60
	Section 12.12	  	Counterpart Originals	  	60
	Section 12.13	  	Table of Contents, Headings, etc.	  	60
	
	ARTICLE 13
	CONVERSION
			
	Section 13.01	  	Conversion Right and Conversion Rate	  	61
	Section 13.02	  	Conversion Consideration	  	61
	Section 13.03	  	Exercise of Conversion Right	  	61
	Section 13.04	  	Fractions of Shares	  	63
	Section 13.05	  	Adjustment of Conversion Rate	  	63
	Section 13.06	  	Notice of Adjustments of Conversion Rate	  	63
	Section 13.07	  	Notice of Certain Corporate Action	  	69
	Section 13.08	  	Cancellation of Converted Notes	  	70
	Section 13.09	  	Provision in Case of Consolidation, Merger or Sale of Assets	  	70
	Section 13.10	  	Rights Issued in Respect of Common Stock	  	70
	Section 13.11	  	Responsibility of Trustee and Conversion Agent for Conversion Provisions	  	71

  

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 EXHIBITS 
  

			
	 Exhibit A1
	  	 FORM OF DEBENTURE

	 Exhibit A2
	  	 FORM OF REGULATION S TEMPORARY GLOBAL DEBENTURE

	 Exhibit B
	  	 FORM OF CERTIFICATE OF TRANSFER

	 Exhibit C
	  	 FORM OF CERTIFICATE OF EXCHANGE

	 Exhibit D
	  	 FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

	 Exhibit E
	  	 FORM OF NOTATION OF GUARANTEE

	 Exhibit F
	  	 FORM OF CONVERSION NOTICE

	 Exhibit G
	  	 FORM OF CERTIFICATE OF CONVERSION & RESTRICTED TRANSFER

	 Exhibit H
	  	 FORM OF SUPPLEMENTAL INDENTURE

  

 iv 

 INDENTURE dated as of May 16, 2006 among Broadwing Corporation, a Delaware corporation, the
Guarantors (as defined) and J.P. Morgan Trust Company, National Association, as Trustee. 
 The Company, the Guarantors and the Trustee agree
as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined) of the 3.125% Convertible Senior Debentures due 2026 (the “Debentures”): 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION

 BY REFERENCE 
 Section 1.01 Definitions.

 “144A Global Debenture” means a Global Debenture substantially in the form of Exhibit A1 hereto bearing the Global
Debenture Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Debentures sold
in reliance on Rule 144A. 
 “Additional Debentures” means up to $30.0 million aggregate principal amount of additional
Debentures (other than the Initial Debentures) issued under this Indenture in accordance with Section 2.02 hereof, as part of the same series as the Initial Debentures. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to be control. For purposes
of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 
 “Agent” means any Registrar, co-registrar, Paying Agent or additional Paying Agent. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Debenture, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such
transfer or exchange. 
 “Acquisition Value” of the Common Stock means, for each Trading Day in the valuation period, the
value of the consideration paid per share of Common Stock in connection with such Public Acquirer Change of Control, as follows: 
 (1) for any cash, 100% of the face amount of such cash; 
 (2) for any acquirer common stock or any other securities
that are traded on a U.S. national securities exchange or approved for quotation on the Nasdaq National Market, 100% of the closing price of such acquirer common stock or other traded securities on each such Trading Day; and 
 (3) for any other securities, assets or property, 102% of the Fair Market Value of such security, asset or property on each such Trading
Day, as determined by two independent nationally recognized investment banks selected by the Trustee for this purpose. 
  

 1 

 “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person”
(as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other
securities, whether such right is currently exercisable or is exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Board of Directors” means: 
 (1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board; 
 (2) with respect to a partnership, the Board of Directors of the general partner of the partnership; 
 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof;
and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar function. 
 “Business Day” means any day other than a Legal Holiday. 
 “Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a
balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without
payment of a penalty. 
 “Capital Stock” means: 
 (1) in the case of a corporation, corporate stock; 
 (2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership interests
(whether general or limited) or membership interests; and 
 (4) any other interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any
right of participation with Capital Stock. 
  

 2 

 “Clearstream” means Clearstream Banking, S.A. 
 “Closing Sale Price” means, with respect to the Common Stock, on any date, the last reported per share sale price (or, if no last sale
price is reported, the average of the last bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on such date as reported in composite transactions for the principal U.S. securities
exchange on which the Common Stock then is listed, or if the Common Stock is not listed on a U.S. national or regional exchange, as reported on NASDAQ, or if the Common Stock is not quoted on NASDAQ, as reported on the principal other market on
which the Common Stock is then traded. In the absence of such quotations, the Company’s Board of Directors will make a good faith determination of the Closing Sale Price. 
 “Common Stock” means the common stock of the Company, par value $0.01 per share, as it exists on the date of this Indenture, or to the
extent such common stock is reclassified or otherwise ceases to exist, any class of Capital Stock of the Company that (1) is Voting Stock, (2) has no preference in respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding up of the issuer thereof and which is not subject to redemption by the issuer thereof and (3) is registered pursuant to Section 12 of the Exchange Act and admitted for trading on a national
securities exchange or quoted on the automated quotation system of a registered securities association, if any. 
 “Company”
means Broadwing Corporation, and any and all successors thereto. 
 “Corporate Trust Office of the Trustee” will be at the
address of the Trustee specified in Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company. 
 “Current Market Price” means the average of the daily closing prices per share of Common Stock for the ten consecutive Trading Days ending on the earlier of the date of determination and the day before the “ex”
date with respect to the distribution requiring such computation. For purpose of this paragraph, the term “ex” date, when used with respect to any distribution, means the first date on which the Common Stock trades, regular way, on the
relevant exchange or in the relevant market from which the closing price was obtained without the right to receive such distribution. The Company will make adjustments to the Current Market Price in accordance with this Indenture to account for the
occurrence of certain events during the ten consecutive Trading Day period. 
 “Custodian” means the Trustee, as custodian
with respect to the Debentures in global form, or any successor entity thereto. 
 “Debenture Guarantee” means the Guarantee
by each Guarantor of the Company’s obligations under this Indenture and the Debentures, executed pursuant to the provisions of this Indenture. 
 “Debentures” has the meaning assigned to it in the preamble to this Indenture. The Initial Debentures and the Additional Debentures shall be treated as a single class for all purposes under this Indenture, and unless the
context otherwise requires, all references to the Debentures shall include the Initial Debentures and any Additional Debentures. 
 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default. 
 “Definitive Debenture” means a certificated Debenture registered in the name of the Holder thereof and issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A1
hereto 

  

 3 

 
except that such Debenture shall not bear the Global Debenture Legend and shall not have the “Schedule of Exchanges of Interests in the Global
Debenture” attached thereto. 
 “Depositary” means, with respect to the Debentures issuable or issued in whole or in
part in global form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Debentures, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision
of this Indenture. 
 “Designated Event” means a Fundamental Change or a Termination of Trading. 
 “Domestic Subsidiary” means any Subsidiary of the Company that was formed under the laws of the United States or any state of the United
States or the District of Columbia or that guarantees or otherwise provides direct credit support for any Indebtedness of the Company. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not
involving distress or necessity of either party, determined in good faith. 
 “Foreign Subsidiary” means any Subsidiary of
the Company that is not a Domestic Subsidiary. 
 “Fundamental Change” shall be deemed to have occur at such time as:

 (1) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the
Exchange Act) is or becomes the “beneficial owner” (as used in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% or more of the total voting power of all classes of the Company’s Capital Stock entitled to vote
generally in the election of directors; 
 (2) the following persons cease for any reason to constitute a majority of the
Board of Directors of the Company: 
 (i) individuals who on the first issue date of the Debentures constituted the Company’s Board of
Directors; and 
 (ii) any new directors whose election to the Company’s Board of Directors or whose nomination for election by the
Company’s shareholders was approved by at least a majority of the Company’s directors, or if applicable, a majority of the Company’s directors on the board’s nominating committee then still in office who were either directors on
such first issue date of the Debentures or whose election or nomination for election was previously so approved; 
 (3) any
transaction or event in which the Company consolidates with, or merges with or into, another Person or any Person consolidates with, or merges with or into, the Company, other than pursuant to a transaction or event in which the Persons that
“beneficially owned,” directly or indirectly, the shares of the Company’s Capital Stock entitled to vote generally in the election of directors immediately prior to such transaction, “beneficially own” directly or
indirectly, immediately after such 

  

 4 

 
transaction, shares of the continuing or surviving Person’s Voting Stock representing at least a majority of the total voting power of all outstanding
classes of voting stock of the continuing or surviving Person in substantially the same proportion as such ownership immediately prior to the transaction; 
 (4) a sale, transfer, lease, conveyance or other disposition of all or substantially all of the Company’s assets or properties to any “person” or “group” (as these terms are used in Sections
13(d) and 14(d) of the Exchange Act), including any group acting for the purpose of acquiring, holding, voting or disposing of securities with the meaning of Rule 13d-5(b)(1) under the Exchange Act; or 
 (v) a liquidation or dissolution of the Company or the approval by holders of the Capital Stock of the Company of any plan or proposal for
the liquidation or dissolution of the Company; 
 provided, however, that a Fundamental Change will not be deemed to have occurred if, in the
case of a merger or consolidation, 90% or more of the total consideration (other than cash payments for fractional shares or pursuant to statutory appraisal rights) in the merger or consolidation constituting the Fundamental Change consists of
common stock and any associated rights traded on a United States national securities exchange or quoted on the Nasdaq National Market (or which will be so traded or quoted when issued or exchanged in connection with such Fundamental Change), and, as
a result of such transaction or transactions, the Holders’ rights to convert Debentures into shares of Common Stock will be changed into the right to convert Debentures into the kind and amount of cash, securities or other property that the
Holder would have received if the Holder had converted its Debentures immediately prior to such transaction or transactions. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time. 
 “Global Debenture Legend” means the legend set forth in Section 2.06(f)(2) hereof, which is required to be placed on all Global
Debentures issued under this Indenture. 
 “Global Debentures” means, individually and collectively, each of the Restricted
Global Debentures and the Unrestricted Global Debentures deposited with or on behalf of and registered in the name of the Depository or its nominee, substantially in the form of Exhibit A1 hereto and that bears the Global Debenture Legend and that
has the “Schedule of Exchanges of Interests in the Global Debenture” attached thereto, issued in accordance with Section 2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof. 
 “Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for
which the United States pledges its full faith and credit. 
 “Guarantee” means a guarantee other than by endorsement of
negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of
all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise).

 “Guarantors” means each Subsidiary of the Company that executes a Debenture Guarantee in accordance with the provisions
of this Indenture, and their respective successors and assigns, in each case, 

  

 5 

 
until the Debenture Guarantee of such Person has been released in accordance with the provisions of this Indenture. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under: 
 (1) interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest
rate collar agreements; 
 (2) other agreements or arrangements designed to manage interest rates or interest rate risk; and

 (3) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or
commodity prices. 
 “Holder” means a Person in whose name a Debenture is registered. 
 “IAI Global Debenture” means a Global Debenture substantially in the form of Exhibit A1 hereto bearing the Global Debenture Legend and
the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Debentures sold to Institutional
Accredited Investors. 
 “Immaterial Subsidiary” means, as of any date, any Subsidiary whose total
assets, as of that date, are less than $100,000 and whose total revenues for the most recent 12-month period do not exceed $100,000; provided that a Subsidiary will not be considered to be an Immaterial Subsidiary if it, directly or
indirectly, guarantees or otherwise provides direct credit support for any Indebtedness of the Company, except that the preceding proviso shall not apply to 650 Townsend Facility Company, LLC. 
 “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade
payables), whether or not contingent: 
 (1) in respect of borrowed money; 
 (2) evidenced by bonds, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

 (3) in respect of banker’s acceptances; 
 (4) representing Capital Lease Obligations; 
 (5) representing the balance deferred and unpaid of the purchase price of any property or services due more than six months after such property is acquired or such services are completed; or 
 (6) representing any Hedging Obligations, 
 if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term
“Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the
specified Person of any Indebtedness of any other Person. 
  

 6 

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

 “Indirect Participant” means a Person who holds a beneficial interest in a Global Debenture through a Participant.

 “Initial Debentures” means the first $150.0 million aggregate principal amount of Debentures issued under this Indenture
on the date hereof. 
 “Initial Purchasers” means Jefferies & Company, Inc. and CIBC World Markets Corp.

 “Institutional Accredited Investor” means an institution that is an “accredited investor” as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs. 
 “Legal Holiday” means a Saturday, a
Sunday or a day on which banking institutions in the City of New York or at a place of payment are authorized by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at
that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law,
including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform
Commercial Code (or equivalent statutes) of any jurisdiction. 
 “Liquidated Damages” means all liquidated damages then
owing pursuant to the Registration Rights Agreement. 
 “Non-U.S. Person” means a Person who is not a U.S. Person.

 “Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means, with respect to any Person, the
Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person. 
 “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of the Company, one of whom must be the
principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company, that meets the requirements of Section 12.05 hereof. 
 “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the requirements of
Section 12.05 hereof. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company or the Trustee. 
 “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and
Clearstream). 
  

 7 

 “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 
 “Private
Placement Legend” means the legend set forth in Section 2.06(f)(1) hereof to be placed on all Debentures issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “Public Acquirer Change of Control” means any transaction described in clause (3) of the definition of a Fundamental Change, as
limited by the paragraph following the definition of a Fundamental Change, where the acquirer, or any entity that is a direct or indirect “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of more than 50% of the total
voting power of all shares of such acquirer’s Capital Stock that are entitled to vote generally in the election of directors, has a class of common stock traded on a national securities exchange or quoted on the Nasdaq National Market or which
will be so traded or quoted when issued or exchanged in connection with such change of control. 
 “QIB” means a
“qualified institutional buyer” as defined in Rule 144A. 
 “Registration Rights Agreement” means the Registration
Rights Agreement, dated as of May, 16, 2006, among the Company and the other parties named on the signature pages thereof, as such agreement may be amended, modified or supplemented from time to time, and, with respect to any Additional Debentures,
one or more registration rights agreements among the Company, the Guarantors and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Company to the purchasers of
Additional Debentures to register such Additional Debentures under the Securities Act. 
 “Regulation S” means Regulation S
promulgated under the Securities Act. 
 “Regulation S Global Debenture” means a Regulation S Temporary Global Debenture or
Regulation S Permanent Global Debenture, as appropriate. 
 “Regulation S Permanent Global Debenture” means a permanent
Global Debenture in the form of Exhibit A1 hereto bearing the Global Debenture Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to
the outstanding principal amount of the Regulation S Temporary Global Debenture upon expiration of the Restricted Period. 
 “Regulation S Temporary Global Debenture” means a temporary Global Debenture in the form of Exhibit A2 hereto deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a
denomination equal to the outstanding principal amount of the Debentures initially sold in reliance on Rule 903 of Regulation S. 
 “Responsible Officer,” when used with respect to the Trustee, means any officer having direct responsibility for the administration of this Indenture within the Corporate Trust Department of the Trustee (or any successor
group of the Trustee) and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
 “Restricted Definitive Debenture” means a Definitive Debenture bearing the Private Placement Legend. 
 “Restricted Global Debenture” means a Global Debenture bearing the Private Placement Legend. 
  

 8 

 “Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S. 
 “Rule 144” means Rule 144 promulgated under the Securities Act. 
 “Rule 144A” means Rule 144A promulgated under the Securities Act. 
 “Rule 903” means Rule 903 promulgated under the Securities Act. 
 “Rule 904” means Rule 904 promulgated under the Securities Act. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Shelf
Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement. 
 “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in
effect on the date of this Indenture. 
 “Stated Maturity” means, with respect to any installment of interest or principal
on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of this Indenture, and will not include any contingent obligations to
repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
 “Stock
Price” means the price paid per share of Common Stock in the applicable Fundamental Change transaction; provided that (1) if holders of Common Stock receive only cash in such Fundamental Change transaction, the Stock Price will
be the cash amount paid per share of Common Stock and (2) in any other Fundamental Change transaction, the Stock Price will be the average of the last Closing Sale Prices on each of the five consecutive Trading Days prior to but not including
the Effective Date of such Fundamental Change. 
 “Subsidiary” means, with respect to any specified Person: 
 (1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the
corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 
 (2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such
Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 “Termination of Trading” will be deemed to have occurred if the Common Stock (or other common stock into which the Debentures are then convertible pursuant to Article 13) is neither listed for 

  

 9 

 
trading on a United States national securities exchange nor approved for trading on the Nasdaq National Market. 
 “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 
 “Trading Day” means a day during which trading in securities generally occurs on the NYSE or, if the Common Stock is not then listed the
NYSE or another United States national securities exchange nor quoted on NASDAQ or another established automated over-the-counter trading market in the United States, on the principal other market on which the Common Stock is then traded or quoted.

 “Treasury Rate” means, as of any applicable date, the yield to maturity as of such date of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical
Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such date to May 15, 2013; provided, however, that if the period from such date to May 15, 2013, is
less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 
 “Trustee” means J.P. Morgan Trust Company, National Association, until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving
hereunder. 
 “Unrestricted Definitive Debenture” means a Definitive Debenture that does not bear and is not required to
bear the Private Placement Legend. 
 “Unrestricted Global Debenture” means a Global Debenture that does not bear and is not
required to bear the Private Placement Legend. 
 “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated
under the Securities Act. 
 “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person
that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 Section 1.02 Other Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “Asset Sale Offer”
	  	3.09
	 “Authentication Order”
	  	2.02
	 “Certificate of Conversion & Restricted Transfer”
	  	13.03
	 “Covenant Defeasance”
	  	8.03
	 “Conversion Date”
	  	13.01
	 “Conversion Notice”
	  	13.01
	 “Conversion Price”
	  	13.02
	 “Conversion Rate”
	  	13.02
	 “Designated Event Expiration Time”
	  	3.10
	 “Designated Event Notice”
	  	3.10
	 “Designated Event Repurchase Date”
	  	3.10
	 “Distributed Assets”
	  	13.05

  

 10 

			
	 Term
	  	Defined in
Section
	 “DTC”
	  	2.03
	 “Effective Date Notice”
	  	13.05
	 “Event of Default”
	  	6.01
	 “Expiration Date”
	  	13.05
	 “Legal Defeasance”
	  	8.02
	 “Offer Amount”
	  	3.09
	 “Offer Period”
	  	3.09
	 “Option to Elect Repurchase upon a Designated Event”
	  	3.10
	 “Paying Agent”
	  	2.03
	 “Payment Default”
	  	6.01
	 “Purchase Date”
	  	3.09
	 “Redemption Date”
	  	3.07
	 “Registrar”
	  	2.03
	 “Repurchase Date”
	  	3.08
	 “Repurchase Notice”
	  	3.08
	 “Settlement”
	  	13.03
	 “Triggering Event”
	  	13.10
	 “Unit Legend”
	  	2.06

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 
 Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 
 The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the Debentures; 
 “indenture security Holder” means a Holder of a Debenture; 
 “indenture to be
qualified” means this Indenture; 
 “indenture trustee” or “institutional trustee” means the
Trustee; and 
 “obligor” on the Debentures and the Debenture Guarantees means the Company and the Guarantors, respectively,
and any successor obligor upon the Debentures and the Debenture Guarantees, respectively. 
 All other terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA have the meanings so assigned to them. 
 Section 1.04
Rules of Construction. 
 Unless the context otherwise requires: 
 (1) a term has the meaning assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
  

 11 

 (3) “or” is not exclusive; 
 (4) words in the singular include the plural, and in the plural include the singular; 
 (5) “will” shall be interpreted to express a command; 
 (6) provisions apply to successive events and transactions; and 
 (7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor sections or
rules adopted by the SEC from time to time. 
 ARTICLE 2 
 THE DEBENTURES 
 Section 2.01 Form and Dating. 
 (a) General. The Debentures and the Trustee’s certificate of authentication will be substantially in the form of Exhibits A1 and A2 hereto.
The Debentures may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Debenture will be dated the date of its authentication. The Debentures shall be in denominations of $1,000 and integral multiples thereof.

 The terms and provisions contained in the Debentures will constitute, and are hereby expressly made, a part of this Indenture and the
Company, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Debenture conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Global Debentures. Debentures
issued in global form will be substantially in the form of Exhibits A1 or A2 hereto (including the Global Debenture Legend thereon and the “Schedule of Exchanges of Interests in the Global Debenture” attached thereto). Debentures issued in
definitive form will be substantially in the form of Exhibit A1 hereto (but without the Global Debenture Legend thereon and without the “Schedule of Exchanges of Interests in the Global Debenture” attached thereto). Each Global Debenture
will represent such of the outstanding Debentures as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Debentures from time to time endorsed thereon and that the aggregate principal
amount of outstanding Debentures represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Debenture to reflect the amount of any increase or decrease in the
aggregate principal amount of outstanding Debentures represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06
hereof. 
  

 12 

 (c) Temporary Global Debentures. Debentures offered and sold in reliance on Regulation S will be
issued initially in the form of the Regulation S Temporary Global Debenture, which will be deposited on behalf of the purchasers of the Debentures represented thereby with the Trustee, at its Houston, Texas office, as custodian for the Depositary,
and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed by the Company and authenticated by the Trustee as hereinafter provided.
The Restricted Period will be terminated upon the receipt by the Trustee of: 
 (1) a written certificate from the Depositary,
together with copies of certificates from Euroclear and Clearstream certifying that they have received certification of non-United States Beneficial Ownership of 100% of the aggregate principal amount of the Regulation S Temporary Global Debenture
(except to the extent of any Beneficial Owners thereof who acquired an interest therein during the Restricted Period pursuant to another exemption from registration under the Securities Act and who will take delivery of a Beneficial Ownership
interest in a 144A Global Debenture or an IAI Global Debenture bearing a Private Placement Legend, all as contemplated by Section 2.06(b) hereof); and 
 (2) an Officers’ Certificate from the Company. 
 Following the termination of the Restricted Period,
beneficial interests in the Regulation S Temporary Global Debenture will be exchanged for beneficial interests in the Regulation S Permanent Global Debenture pursuant to the Applicable Procedures. Simultaneously with the authentication of the
Regulation S Permanent Global Debenture, the Trustee will cancel the Regulation S Temporary Global Debenture. The aggregate principal amount of the Regulation S Temporary Global Debenture and the Regulation S Permanent Global Debenture may from time
to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. 
 (3) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System”
and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the
Regulation S Temporary Global Debenture and the Regulation S Permanent Global Debenture that are held by Participants through Euroclear or Clearstream. 
 Section 2.02 Execution and Authentication. 
 At least one Officer must sign the Debentures for the Company by manual or
facsimile signature. 
 If an Officer whose signature is on a Debenture no longer holds that office at the time a Debenture is authenticated,
the Debenture will nevertheless be valid. 
 A Debenture will not be valid until authenticated by the manual signature of the Trustee. The
signature will be conclusive evidence that the Debenture has been authenticated under this Indenture. 
 The Trustee will, upon receipt of a
written order of the Company signed by two Officers (an “Authentication Order”), authenticate Debentures for original issue that may be validly issued under this Indenture, including any Additional Debentures. The aggregate
principal amount of Debentures outstanding at any time may not exceed the aggregate principal amount of Debentures authorized for issuance by the Company pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof.

 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Debentures. An authenticating agent may
authenticate Debentures whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an
Affiliate of the Company. 
  

 13 

 Section 2.03 Registrar and Paying Agent. 
 The Company will maintain an office or agency where Debentures may be presented for registration of transfer or for exchange
(“Registrar”), an office or agency where Debentures may be presented for payment (“Paying Agent”) and an office or agency where Notes may be presented for conversion pursuant to Article 13 hereof
(“Conversion Agent”). The Registrar will keep a register of the Debentures and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional Paying Agents. The term
“Registrar” includes any co-registrar and the term “Paying Agent” includes any additional Paying Agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company will notify the Trustee in
writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as
Paying Agent or Registrar. 
 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Debentures. 
 The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as
Custodian with respect to the Global Debentures. 
 Section 2.04 Paying Agent to Hold Money in Trust. 
 The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit of Holders
or the Trustee all money held by the Paying Agent for the payment of principal, premium or Liquidated Damages, if any, or interest on the Debentures, and will notify the Trustee of any default by the Company in making any such payment. While any
such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by
it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee will serve as Paying Agent for the Debentures. 
 Section 2.05 Holder Lists. 
 The Trustee will preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at least seven Business Days before each interest
payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders of Debentures and the Company shall otherwise comply
with TIA § 312(a). 
 Section 2.06 Transfer and Exchange. 
 (a) Transfer and Exchange of Global Debentures. A Global Debenture may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or
to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Debentures will be exchanged by the Company for Definitive Debentures if: 
 (1) the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that
it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 120 days after the date of such notice from the Depositary; 
  

 14 

 (2) the Company in its sole discretion determines that the Global Debentures (in whole
but not in part) should be exchanged for Definitive Debentures and delivers a written notice to such effect to the Trustee; provided that in no event shall the Regulation S Temporary Global Debenture be exchanged by the Company for Definitive
Debentures prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or 
 (3) there has occurred and is continuing a Default or Event of Default with respect to the Debentures. 
 Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Debentures shall be issued in such names as the
Depositary shall instruct the Trustee. Global Debentures also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Debenture authenticated and delivered in exchange for, or in lieu of, a Global
Debenture or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Debenture. A Global Debenture may not be exchanged for another
Debenture other than as provided in this Section 2.06(a), however, beneficial interests in a Global Debenture may be transferred and exchanged as provided in Section 2.06(b), (c) or (d) hereof. 
 (b) Transfer and Exchange of Beneficial Interests in the Global Debentures. The transfer and exchange of beneficial interests in the Global
Debentures will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Debentures will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Debentures also will require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more
of the other following subparagraphs, as applicable: 
 (1) Transfer of Beneficial Interests in the Same Global
Debenture. Beneficial interests in any Restricted Global Debenture may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Debenture in accordance with the transfer restrictions
set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Temporary Global Debenture may not be made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Debenture may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Debenture. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1). 
 (2) All Other Transfers and Exchanges of Beneficial Interests in Global Debentures. In connection with all transfers and exchanges
of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the Registrar either: 
 (A) both: 
 (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global
Debenture in an amount equal to the beneficial interest to be transferred or exchanged; and 
  

 15 

 (ii) instructions given in accordance with the Applicable Procedures containing
information regarding the Participant account to be credited with such increase; or 
 (B) both: 
 (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to cause to be issued a Definitive Debenture in an amount equal to the beneficial interest to be transferred or exchanged; and 
 (ii) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Debenture shall be registered to effect the transfer or exchange referred to in
(i) above; 
 ; provided that in no event shall Definitive Debentures be issued upon the transfer or exchange of beneficial
interests in the Regulation S Temporary Global Debenture prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903 under the Securities Act. 
 Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Debentures contained in this Indenture and the Debentures or
otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Debenture(s) pursuant to Section 2.06(h) hereof. 
 (3) Transfer of Beneficial Interests to Another Restricted Global Debenture. A beneficial interest in any Restricted Global
Debenture may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Debenture if the transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar
receives the following: 
 (A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global
Debenture, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Temporary Global Debenture or the Regulation S Permanent Global Debenture, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C) if the
transferee will take delivery in the form of a beneficial interest in the IAI Global Debenture, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel
required by item (3) thereof, if applicable. 
  

 16 

 (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Debenture for
Beneficial Interests in an Unrestricted Global Debenture. A beneficial interest in any Restricted Global Debenture may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Debenture or transferred to a Person
who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Debenture if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and: 
 (A) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

 (B) the Registrar receives the following: 
 (i) if the holder of such beneficial interest in a Restricted Global Debenture proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Debenture, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 
 (ii) if the holder of such beneficial interest in a Restricted Global Debenture proposes to transfer such beneficial interest to a Person
who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Debenture, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (4), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to subparagraph (2) or (4) above
at a time when an Unrestricted Global Debenture has not yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global
Debentures in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (2) or (4) above. 
 Beneficial interests in an Unrestricted Global Debenture cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a
beneficial interest in a Restricted Global Debenture. 
 (c) Transfer or Exchange of Beneficial Interests for Definitive Debentures.

 (1) Beneficial Interests in Restricted Global Debentures to Restricted Definitive Debentures. If any holder of a
beneficial interest in a Restricted Global Debenture proposes to exchange such beneficial interest for a Restricted Definitive Debenture or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted
Definitive Debenture, then, upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such
beneficial interest in a Restricted Global Debenture proposes to exchange such beneficial interest for a Restricted Definitive Debenture, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item
(2)(a) thereof; 
  

 17 

 (B) if such beneficial interest is being transferred to a QIB in accordance with Rule
144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C)
if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(2) thereof; 
 (D) if such beneficial interest is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
 (E) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption from the
registration requirements of the Securities Act other than those listed in subparagraphs (2) through (4) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of Counsel
required by item (3) thereof, if applicable; 
 (F) if such beneficial interest is being transferred to the Company or
any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in
item (3)(c) thereof, 
 the Trustee shall cause the aggregate principal amount of the applicable Global Debenture to be reduced accordingly pursuant to
Section 2.06(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Debenture in the appropriate principal amount. Any Definitive Debenture issued in
exchange for a beneficial interest in a Restricted Global Debenture pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall
instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Debentures to the Persons in whose names such Debentures are so registered. Any Definitive
Debenture issued in exchange for a beneficial interest in a Restricted Global Debenture pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 (2) Beneficial Interests in Regulation S Temporary Global Debenture to Definitive Debentures. Notwithstanding
Sections 2.06(c)(1)(A) and (C) hereof, a beneficial interest in the Regulation S Temporary Global Debenture may not be exchanged for a Definitive Debenture or transferred to a Person who takes delivery thereof in the form of a Definitive
Debenture prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an
exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 
 (3) Beneficial
Interests in Restricted Global Debentures to Unrestricted Definitive Debentures. A holder of a beneficial interest in a Restricted Global Debenture may exchange such beneficial interest for an Unrestricted Definitive Debenture or may transfer
such 

  

 18 

 
beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Debenture only if: 
 (A) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; or

 (B) the Registrar receives the following: 
 (i) if the holder of such beneficial interest in a Restricted Global Debenture proposes to exchange such beneficial interest for an
Unrestricted Definitive Debenture, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 
 (ii) if the holder of such beneficial interest in a Restricted Global Debenture proposes to transfer such beneficial interest to a Person
who shall take delivery thereof in the form of an Unrestricted Definitive Debenture, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (3), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 
 (4) Beneficial Interests in Unrestricted Global Debentures to
Unrestricted Definitive Debentures. If any holder of a beneficial interest in an Unrestricted Global Debenture proposes to exchange such beneficial interest for a Definitive Debenture or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Definitive Debenture, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable Global Debenture to be reduced
accordingly pursuant to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Debenture in the appropriate principal amount. Any Definitive
Debenture issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Debentures to the Persons in whose names such Debentures are so registered. Any Definitive Debenture
issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will not bear the Private Placement Legend. 
 (d)
Transfer and Exchange of Definitive Debentures for Beneficial Interests. 
 (1) Restricted Definitive Debentures to
Beneficial Interests in Restricted Global Debentures. If any Holder of a Restricted Definitive Debenture proposes to exchange such Debenture for a beneficial interest in a Restricted Global Debenture or to transfer such Restricted Definitive
Debentures to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Debenture, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive Debenture proposes to exchange such Debenture for a beneficial interest in a Restricted
Global Debenture, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 
  

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 (B) if such Restricted Definitive Debenture is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Definitive Debenture is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (2) thereof; 
 (D) if such Restricted Definitive Debenture is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
 (E) if such Restricted Definitive Debenture is being transferred to an Institutional Accredited Investor in reliance on an exemption from
the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3) thereof, if applicable; 
 (F) if such Restricted Definitive Debenture is being transferred
to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such Restricted Definitive Debenture is being transferred pursuant to an effective registration statement under the Securities Act,
a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
 the Trustee will
cancel the Restricted Definitive Debenture, increase or cause to be increased the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Debenture, in the case of clause (B) above, the 144A Global
Debenture, in the case of clause (C) above, the Regulation S Global Debenture, and in all other cases, the IAI Global Debenture. 
 (2) Restricted Definitive Debentures to Beneficial Interests in Unrestricted Global Debentures. A Holder of a Restricted Definitive Debenture may exchange such Debenture for a beneficial interest in an
Unrestricted Global Debenture or transfer such Restricted Definitive Debenture to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Debenture only if: 
 (A) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; or

  

 20 

 (B) the Registrar receives the following: 
 (i) if the Holder of such Definitive Debentures proposes to exchange such Debentures for a beneficial interest in the Unrestricted Global
Debenture, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 
 (ii) if the Holder of such Definitive Debentures proposes to transfer such Debentures to a Person who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Debenture, a
certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case
set forth in this subparagraph (B), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.06(d)(2), the Trustee will cancel the Definitive Debentures and
increase or cause to be increased the aggregate principal amount of the Unrestricted Global Debenture. 
 (3) Unrestricted
Definitive Debentures to Beneficial Interests in Unrestricted Global Debentures. A Holder of an Unrestricted Definitive Debenture may exchange such Debenture for a beneficial interest in an Unrestricted Global Debenture or transfer such
Definitive Debentures to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Debenture at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable
Unrestricted Definitive Debenture and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Debentures. 
 If any such exchange or transfer from a Definitive Debenture to a beneficial interest is effected pursuant to subparagraphs (2)(A), (2)(B) or (3) above at a time when an Unrestricted Global Debenture has not
yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate one or more Unrestricted Global Debentures in an aggregate principal amount equal to the
principal amount of Definitive Debentures so transferred. 
 (e) Transfer and Exchange of Definitive Debentures for Definitive
Debentures. Upon request by a Holder of Definitive Debentures and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or exchange of Definitive Debentures. Prior to such
registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Debentures duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this
Section 2.06(e). 
 (1) Restricted Definitive Debentures to Restricted Definitive Debentures. Any Restricted
Definitive Debenture may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Debenture if the Registrar receives the following: 
 (A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (1) thereof; 
  

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 (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C)
if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and
Opinion of Counsel required by item (3) thereof, if applicable. 
 (2) Restricted Definitive Debentures to
Unrestricted Definitive Debentures. Any Restricted Definitive Debenture may be exchanged by the Holder thereof for an Unrestricted Definitive Debenture or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Debenture if: 
 (A) any such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement; or 
 (B) the Registrar receives the following: 
 (i) if the Holder of such Restricted Definitive Debentures proposes to exchange such Debentures for an Unrestricted Definitive Debenture,
a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
 (ii) if the Holder of such Restricted Definitive Debentures proposes to transfer such Debentures to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Debenture, a certificate from such Holder in the form of
Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (2), if the
Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (3)
Unrestricted Definitive Debentures to Unrestricted Definitive Debentures. A Holder of Unrestricted Definitive Debentures may transfer such Debentures to a Person who takes delivery thereof in the form of an Unrestricted Definitive Debenture.
Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Debentures pursuant to the instructions from the Holder thereof. 
 Concurrently with the issuance of such Debentures, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Debentures
to be reduced accordingly, and the Company will execute and the Trustee will authenticate and deliver to the Persons designated by the Holders of Definitive Debentures so accepted Unrestricted Definitive Debentures in the appropriate principal
amount. 
  

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 (f) Legends. The following legends will appear on the face of all Global Debentures and Definitive
Debentures issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
 (1) Private Placement Legend. 
 (A) Except as permitted by subparagraph (B) below, each Global Debenture
and each Definitive Debenture (and all Debentures issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (1) (a) IN THE UNITED STATES TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(b) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (c) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (d) TO AN INSTITUTIONAL
“ACCREDITED INVESTOR” (AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT (AN “INSTITUTIONAL ACCREDITED INVESTOR”) THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING
CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF DEBENTURES OR SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF THE DEBENTURES LESS
THAN $250,000, AN OPINION OF COUNSEL ACCEPTABLE TO BROADWING CORPORATION THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT OR (e) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED
UPON AN OPINION OF COUNSEL IF THE ISSUER OF THE SECURITY SO REQUESTS), (2) TO THE ISSUER OF THE SECURITY OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN
(A) ABOVE.” 
 (B) Notwithstanding the foregoing, any Global Debenture or Definitive Debenture issued pursuant to
subparagraphs (b)(4), (c)(3), (c)(4), (d)(2), (d)(3), (e)(2) or (e)(3) of this Section 2.06 (and all Debentures issued in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 
  

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 (2) Global Debenture Legend. Each Global Debenture will bear a legend in
substantially the following form: 
 “THIS GLOBAL DEBENTURE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS
DEBENTURE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL DEBENTURE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL DEBENTURE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
2.11 OF THE INDENTURE AND (4) THIS GLOBAL DEBENTURE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR DEBENTURES IN DEFINITIVE FORM, THIS DEBENTURE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“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 SUCH OTHER NAME AS
MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE 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.” 
 (3) Regulation S Temporary Debenture Legend. The Regulation S Temporary Global Debenture will bear a Legend in substantially the following form: 
 “THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL DEBENTURE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED DEBENTURES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).
NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL DEBENTURE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.” 
 (g) Cancellation and/or Adjustment of Global Debentures. At such time as all beneficial interests in a particular Global Debenture have been exchanged for Definitive Debentures or a particular Global Debenture
has been redeemed, repurchased or canceled in whole and not in part, each such Global Debenture will be returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any
beneficial interest in a Global Debenture is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Debenture or for Definitive Debentures, the principal amount of Debentures
represented by such Global Debenture will be reduced accordingly and an endorsement will be made on such Global Debenture by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest
is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Debenture, such other Global Debenture will be increased accordingly and an endorsement will be made on such
Global Debenture by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
  

 24 

 (h) General Provisions Relating to Transfers and Exchanges. 
 (1) To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Debentures and
Definitive Debentures upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 
 (2) No service charge will be made to a holder of a beneficial interest in a Global Debenture or to a Holder of a Definitive Debenture for any registration of transfer or exchange, but the Company may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09
and 9.05 hereof). 
 (3) The Registrar will not be required to register the transfer of or exchange of any Debenture selected
for redemption in whole or in part, except the unredeemed portion of any Debenture being redeemed in part. 
 (4) All Global
Debentures and Definitive Debentures issued upon any registration of transfer or exchange of Global Debentures or Definitive Debentures will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Global Debentures or Definitive Debentures surrendered upon such registration of transfer or exchange. 
 (5) Neither the Registrar nor the Company will be required: 
 (A) to issue, to register the transfer of or to
exchange any Debentures during a period beginning at the opening of business 15 days before the day of any selection of Debentures for redemption under Section 3.02 hereof and ending at the close of business on the day of selection; 

(B) to register the transfer of or to exchange any Debenture selected for redemption in whole or in part, except the unredeemed portion
of any Debenture being redeemed in part; or 
 (C) to register the transfer of or to exchange a Debenture between a record
date and the next succeeding interest payment date. 
 (6) Prior to due presentment for the registration of a transfer of any
Debenture, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Debenture is registered as the absolute owner of such Debenture for the purpose of receiving payment of principal of and interest on such Debentures
and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
 (7) The Trustee will authenticate Global Debentures and Definitive Debentures in accordance with the provisions of Section 2.02 hereof. 
 (8) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile.

  

 25 

 Section 2.07 Replacement Debentures. 
 If any mutilated Debenture is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the destruction, loss or
theft of any Debenture, the Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Debenture if the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity
bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Debenture is replaced.
The Company may charge for its expenses in replacing a Debenture. 
 Every replacement Debenture is an additional obligation of the Company
and will be entitled to all of the benefits of this Indenture equally and proportionately with all other Debentures duly issued hereunder. 
 Section 2.08
Outstanding Debentures. 
 The Debentures outstanding at any time are all the Debentures authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Debenture effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except
as set forth in Section 2.09 hereof, a Debenture does not cease to be outstanding because the Company or an Affiliate of the Company holds the Debenture. 
 If a Debenture is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Debenture is held by a protected purchaser.

 If the principal amount of any Debenture is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it
ceases to accrue. 
 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or
maturity date, money sufficient to pay Debentures payable on that date, then on and after that date such Debentures will be deemed to be no longer outstanding and will cease to accrue interest. 
 Section 2.09 Treasury Debentures. 
 In determining
whether the Holders of the required principal amount of Debentures have concurred in any direction, waiver or consent, Debentures owned by the Company or any Guarantor, or by any Person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Company or any Guarantor, will be considered as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent,
only Debentures that the Trustee actually knows are so owned will be so disregarded. 
 Section 2.10 Temporary Debentures. 
 Until certificates representing Debentures are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, will
authenticate temporary Debentures. Temporary Debentures will be substantially in the form of certificated Debentures but may have variations that the Company considers appropriate for temporary Debentures and as may be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company will prepare and the Trustee will authenticate definitive Debentures in exchange for temporary Debentures. 
  

 26 

 Holders of temporary Debentures will be entitled to all of the benefits of this Indenture. 
 Section 2.11 Cancellation. 
 The Company at any time
may deliver Debentures to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Debentures surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel all
Debentures surrendered for registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled Debentures (subject to the record retention requirement of the Exchange Act). Certification of the destruction of all
canceled Debentures will be delivered to the Company. The Company may not issue new Debentures to replace Debentures that it has paid or that have been delivered to the Trustee for cancellation. 
 Section 2.12 Defaulted Interest. 
 If the Company
defaults in a payment of interest on the Debentures, it will pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date,
in each case at the rate provided in the Debentures and in Section 4.01 hereof. The Company will notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Debenture and the date of the proposed payment. The
Company will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before
the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) will mail or cause to be mailed to Holders a notice that states the special record date, the related
payment date and the amount of such interest to be paid. 
 ARTICLE 3 
 REDEMPTION AND PREPAYMENT 
 Section 3.01 Notices to Trustee. 
 If the Company elects to redeem Debentures pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the Trustee, at
least 45 days but not more than 60 days before a redemption date, an Officers’ Certificate setting forth: 
 (1) the
clause of this Indenture pursuant to which the redemption shall occur; 
 (2) the redemption date; 
 (3) the principal amount of Debentures to be redeemed; and 
 (4) the redemption price. 
 Section 3.02
Selection of Debentures to Be Redeemed or Purchased. 
 If less than all of the Debentures are to be redeemed or purchased in an offer
to purchase at any time, the Trustee will select Debentures for redemption or purchase on a pro rata basis unless otherwise required by law or applicable stock exchange requirements. 
  

 27 

 In the event of partial redemption or purchase by lot, the particular Debentures to be redeemed or
purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Debentures not previously called for redemption or purchase.

 The Trustee will promptly notify the Company in writing of the Debentures selected for redemption or purchase and, in the case of any
Debenture selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Debentures and portions of Debentures selected will be in amounts of $1,000 or whole multiples of $1,000; except that if all of the
Debentures of a Holder are to be redeemed or purchased, the entire outstanding amount of Debentures held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of
this Indenture that apply to Debentures called for redemption or purchase also apply to portions of Debentures called for redemption or purchase. 
 Section
3.03 Notice of Redemption. 
 At least 30 days but not more than 60 days before a redemption date, the Company will mail or cause to
be mailed, by first class mail, a notice of redemption to each Holder whose Debentures are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in
connection with a defeasance of the Debentures or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 11 hereof. 
 The
notice will identify the Debentures to be redeemed and will state: 
 (1) the redemption date; 
 (2) the redemption price; 
 (3) if any Debenture is being redeemed in part, the portion of the principal amount of such Debenture to be redeemed and that, after the redemption date upon surrender of such Debenture, a new Debenture or Debentures
in principal amount equal to the unredeemed portion will be issued upon cancellation of the original Debenture; 
 (4) the
name and address of the Paying Agent; 
 (5) that Debentures called for redemption must be surrendered to the Paying Agent to
collect the redemption price; 
 (6) that, unless the Company defaults in making such redemption payment, interest on
Debentures called for redemption ceases to accrue on and after the redemption date; 
 (7) the paragraph of the Debentures
and/or Section of this Indenture pursuant to which the Debentures called for redemption are being redeemed; and 
 (8) that no
representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Debentures. 
 At the Company’s request, the Trustee will give the notice of redemption in the Company’s name and at its expense; provided, however, that the Company has delivered to the Trustee, at least 45 days prior to the redemption
date, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 
  

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 Section 3.04 Effect of Notice of Redemption. 
 Once notice of redemption is mailed in accordance with Section 3.03 hereof, Debentures called for redemption become irrevocably due and payable on
the redemption date at the redemption price. A notice of redemption may not be conditional. 
 Section 3.05 Deposit of Redemption or Purchase Price.

 One Business Day prior to the redemption or purchase date, the Company will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of and accrued interest and Liquidated Damages, if any, on all Debentures to be redeemed or purchased on that date. The Trustee or the Paying Agent will promptly return to the Company any money
deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest and Liquidated Damages, if any, on, all Debentures to be redeemed or purchased.

 If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease
to accrue on the Debentures or the portions of Debentures called for redemption or purchase. If a Debenture is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and
unpaid interest shall be paid to the Person in whose name such Debenture was registered at the close of business on such record date. If any Debenture called for redemption or purchase is not so paid upon surrender for redemption or purchase because
of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid
principal, in each case at the rate provided in the Debentures and in Section 4.01 hereof. 
 Section 3.06 Debentures Redeemed or Purchased in
Part. 
 Upon surrender of a Debenture that is redeemed or purchased in part, the Company will issue and, upon receipt of an
Authentication Order, the Trustee will authenticate for the Holder at the expense of the Company a new Debenture equal in principal amount to the unredeemed or unpurchased portion of the Debenture surrendered. 
 Section 3.07 Optional Redemption. 
 (a) The
Debentures will not be redeemable at the Company’s option prior to May 15, 2013. 
 (b) On or after May 15, 2013, the Company
may redeem all or a part of the Debentures upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 100% of the principal amount of the Debentures being redeemed plus accrued and unpaid interest and Liquidated
Damages, if any, on the Debentures redeemed up to, but excluding, the redemption date, unless the redemption date falls after a record date and on or prior to the corresponding interest payment date. In that case, the Company will pay the full
amount of accrued and unpaid interest, including Liquidated Damages, if any, due on such interest payment date to the Holder of record at the close of business on the corresponding record date. Unless the Company defaults in the payment of the
redemption price, interest will cease to accrue on the Debentures or portions thereof called for redemption on the applicable redemption date. 
 (c) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 
  

 29 

 Section 3.08 Repurchase at Option of the Holder. 
 Debentures shall be purchased by the Company in cash pursuant to the terms of the Debentures at the option of the Holder on each of May 15,
2013, May 15, 2016, and May 15, 2021 (each a “Repurchase Date”), at a purchase price of 100% of the principal amount, plus any accrued and unpaid interest and Liquidated Damages, if any, to, but excluding, the
Repurchase Date; provided that if such Repurchase Date falls after a record date and on or prior to the corresponding interest payment date, then the interest and Liquidated Damages, if any, payable on such interest payment date shall be paid to the
Holders of record of the Debentures at the close of business on the applicable record date instead of the Holders surrendering the Debentures for repurchase. At least 20 Business Days prior any Repurchase Date, the Company will mail or cause to be
mailed, by first class mail, a notice of such Repurchase Date to each Holder at its registered address. 
 Repurchases of Debentures under
this Section 3.08 shall be made, at the option of the Holder thereof, upon: 
 (a) delivery to the Trustee (or other
Paying Agent appointed by the Company) by a Holder of a duly completed and executed notice (the “Repurchase Notice”) in the form set forth on the reverse of the Debenture during the period beginning at any time from the opening of
business on the date that is twenty (20) Business Days prior to the Repurchase Date until the close of business on the Repurchase Date; and 
 (b) delivery or book-entry transfer of the Debentures to the Trustee (or other Paying Agent appointed by the Company) at any time simultaneous to or after delivery of the Repurchase Notice (together with all necessary
endorsements) at the Corporate Trust Office of the Trustee (or other Paying Agent appointed by the Company) in Houston, Texas, such delivery being a condition to receipt by the Holder of the purchase price therefor; provided that such purchase price
shall be so paid pursuant to this Section 3.08 only if the Debenture so delivered to the Trustee (or other Paying Agent appointed by the Company) shall conform in all respects to the description thereof in the related Repurchase Notice.

 The Company shall purchase from the Holder thereof, pursuant to this Section 3.08, a portion of a Debenture, if the principal amount
of such portion is $1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Debenture also apply to the purchase of such portion of such Debenture. 
 Upon presentation of any Debenture repurchased in part only, the Company shall execute and, upon the Company’s written direction to the Trustee, the
Trustee shall authenticate and make available for delivery to the Holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in aggregate principal amount equal to the portion of the Debentures
presented that was not repurchased. 
 Any purchase by the Company contemplated pursuant to the provisions of this Section 3.08 shall be
consummated by the delivery of the consideration to be received by the Holder promptly following the later of the Business Day immediately following the Repurchase Date and the time of the book-entry transfer or delivery of the Debenture.

 Notwithstanding anything herein to the contrary, any Holder delivering to the Trustee (or other Paying Agent appointed by the Company) the
Repurchase Notice contemplated by this Section 3.08 shall have the right to withdraw such Repurchase Notice at any time prior to the close of business on the Repurchase Date by delivery of a written notice of withdrawal to the Trustee (or other
Paying Agent appointed by the Company) in accordance with Section 3.09. 
  

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 The Trustee (or other Paying Agent appointed by the Company) shall promptly notify the Company of the
receipt by it of any Repurchase Notice or written notice of withdrawal thereof. 
 Section 3.09 Effect of a Repurchase Notice. 
 Upon receipt by the Trustee (or other Paying Agent appointed by the Company) of the Repurchase Notice specified in Section 3.08, the Holder of the
Debenture in respect of which such Repurchase Notice was given shall (unless such Repurchase Notice is validly withdrawn) thereafter be entitled to receive solely the purchase price with respect to such Debenture. Such purchase price shall be paid
to such Holder, subject to receipt of funds and/or Debentures by the Trustee (or other Paying Agent appointed by the Company), promptly following the later of (x) the Business Day immediately following the Repurchase Date with respect to such
Debenture (provided the Holder has satisfied the conditions in Section 3.08) and (y) the time of book entry transfer or delivery of such Debenture to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the
manner required by Section 3.08. Debentures in respect of which a Repurchase Notice has been given by the Holder thereof may not be converted pursuant to Article 13 hereof on or after the date of the delivery of such Repurchase Notice unless
such Repurchase Notice has first been validly withdrawn. 
 A Repurchase Notice may be withdrawn by means of a written notice of withdrawal
delivered to the office of the Trustee (or other Paying Agent appointed by the Company) in accordance with the Repurchase Notice at any time prior to the close of business on the Repurchase Date, specifying: 
 (a) the principal amount of the Debenture with respect to which such notice of withdrawal is being submitted, 
 (b) the certificate number, if any, of the Debenture in respect of which such notice of withdrawal is being submitted, or the appropriate
Depositary information if the Debenture in respect of which such notice of withdrawal is being submitted is represented by a Global Debenture, and 
 (c) the principal amount, if any, of such Debenture that remains subject to the original Repurchase Notice and that has been or will be delivered for purchase by the Company. 
 Section 3.10 Repurchase at Option of Holder Upon a Designated Event. 
 (a) If there shall occur a Designated Event at any time prior to maturity of the Debentures, then each Holder shall have the right, at such Holder’s option, to require the Company to repurchase all of such
Holder’s Debentures, or any portion thereof that is a multiple of $1,000 principal amount, for cash on a date designated by the Company (the “Designated Event Repurchase Date”) that is not less than twenty (20) nor more
than thirty (30) days after the date of the Designated Event Notice (as defined in Section 3.10(b)) for such Designated Event at a repurchase price equal to 100% of the principal amount thereof, together with accrued and unpaid interest
and Liquidated Damages, if any, to, but excluding, the Designated Event Repurchase Date; provided that if such Designated Event Repurchase Date falls after a record date and on or prior to the corresponding interest payment date, then the interest
and Liquidated Damages, if any, payable on such interest payment date shall be paid to the Holders of record of the Debentures at the close of business on the applicable record date instead of the Holders surrendering the Debentures for repurchase.
Notwithstanding the foregoing, no Debentures may be surrendered for repurchase pursuant to this Section 3.10 in connection with a merger, consolidation or other transaction effected solely for the purpose of changing the Company’s
jurisdiction of incorporation to any other state within the United States. 
  

 31 

 (b) On or before the 10th day after the occurrence of a Designated Event, the Company, or at its written
request (which must be received by the Trustee at least five (5) Business Days prior to the date the Trustee is requested to give notice as described below, unless the Trustee shall agree in writing to a shorter period), the Trustee, in the
name of and at the expense of the Company, shall mail or cause to be mailed to all Holders of record on the date of the Designated Event a notice (the “Designated Event Notice”) of the occurrence of such Designated Event and of the
repurchase right at the option of the Holders arising as a result thereof. If the Company shall give such notice, the Company shall also deliver a copy of the Designated Event Notice to the Trustee at such time as it is mailed to Holders.

 Each Designated Event Notice shall specify the circumstances constituting the Designated Event, the Designated Event Repurchase Date, the
price at which the Company shall be obligated to repurchase Debentures, that the Holder must exercise the repurchase right on or prior to the close of business on the Designated Event Repurchase Date (the “Designated Event Expiration
Time”), that the Holder shall have the right to withdraw any Debentures surrendered prior to the Designated Event Expiration Time, if the Debentures are then convertible, that Debentures as to which an Option to Elect Repurchase Upon a
Designated Event (hereafter defined) has been given may be converted only if the Option to Elect Repurchase Upon a Designated Event is withdrawn in accordance with the terms of this Indenture, a description of the procedure that a Holder must follow
to exercise such repurchase right and to withdraw any surrendered Debentures, the place or places where the Holder is to surrender such Holder’s Debentures, the amount of interest and Liquidated Damages, if any, accrued and unpaid on each
Debenture to the Designated Event Repurchase Date and the CUSIP number or numbers of the Debentures (if then generally in use). 
 No failure
of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect the validity of the proceedings for the repurchase of the Debentures pursuant to this Section 3.10. 
 (c) Repurchases of Debentures under this Section 3.10 shall be made, at the option of the Holder thereof, upon: 
 (i) delivery to the Trustee at the Corporate Trust Office of the Trustee (or other Paying Agent appointed by the Company) by a Holder of a
duly completed and executed notice (the “Option to Elect Repurchase upon a Designated Event”) in the form set forth on the reverse of the Debenture prior to the Designated Event Expiration Time; and 
 (ii) delivery or book-entry transfer of the Debentures to the Trustee (or other Paying Agent appointed by the Company) at any time
simultaneous to or after delivery of the Option to Elect Repurchase Upon a Designated Event (together with all necessary endorsements) at the Corporate Trust Office of the Trustee (or other Paying Agent appointed by the Company) in Houston, Texas as
provided in Section 3.08, such delivery being a condition to receipt by the Holder of the repurchase price therefor; provided that such repurchase price shall be so paid pursuant to this Section 3.10 only if the Debenture so delivered to
the Trustee (or other Paying Agent appointed by the Company) shall conform in all respects to the description thereof in the related Option to Elect Repurchase Upon a Designated Event. 
 The Company shall purchase from the Holder thereof, pursuant to this Section 3.10, a portion of a Debenture, if the principal amount of such portion
is $1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Debenture also apply to the purchase of such portion of such Debenture. 
 Upon presentation of any Debenture repurchased in part only, the Company shall execute and, upon the Company’s written direction to the Trustee, the
Trustee shall authenticate and make available for 

  

 32 

 
delivery to the Holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in aggregate principal amount
equal to the portion of the Debentures presented that was not repurchased. 
 Notwithstanding anything herein to the contrary, any Holder
delivering to the Trustee (or other Paying Agent appointed by the Company) the Option to Elect Repurchase Upon a Designated Event contemplated by this Section 3.10 shall have the right to withdraw such Option to Elect Repurchase Upon a
Designated Event at any time prior to the Designated Event Expiration Time by delivery of a written notice of withdrawal to the Trustee (or other Paying Agent appointed by the Company) in accordance with Section 3.10(d) below. Debentures in
respect of which an Option to Elect Repurchase Upon a Designated Event has been given by the Holder thereof may not be converted pursuant to Article 13 hereof on or after the date of the delivery of such Option to Elect Repurchase Upon a Designated
Event unless such Option to Elect Repurchase Upon a Designated Event has first been validly withdrawn. 
 The Trustee (or other Paying Agent
appointed by the Company) shall promptly notify the Company of the receipt by it of any Option to Elect Repurchase Upon a Designated Event or written notice of withdrawal thereof. 
 For a Debenture, other than a Global Debenture, to be so repurchased at the option of the Holder, the Company must receive at the office or agency of the
Company maintained for that purpose or, at the option of such Holder, the Corporate Trust Office, such Debenture with the Option to Elect Repurchase Upon A Designated Event on the reverse thereof duly completed, together with such Debentures duly
endorsed for transfer, on or before the Designated Event Expiration Time. All questions as to the validity, eligibility (including time of receipt) and acceptance of any Debenture for repurchase shall be determined by the Company, whose
determination shall be final and binding absent manifest error. 
 (d) An Option to Elect Repurchase Upon a Designated Event may be withdrawn
by means of a written notice of withdrawal delivered to the Corporate Trust Office of the Trustee (or other Paying Agent appointed by the Company) in accordance with the Option to Elect Repurchase Upon a Designated Event at any time prior to the
Designated Event Expiration Time, specifying: 
 (i) the principal amount of the Debenture with respect to which such notice
of withdrawal is being submitted, 
 (ii) the certificate number, if any, of the Debenture in respect of which such notice of
withdrawal is being submitted, or the appropriate Depositary information if the Debenture in respect of which such notice of withdrawal is being submitted is represented by a Global Debenture, and 
 (iii) the principal amount, if any, of such Debenture that remains subject to the original Option to Elect Repurchase Upon a Designated
Event. 
 (e) The Company shall deposit with the Trustee or with one or more Paying Agents (or, if the Company is acting as its own Paying
Agent, set aside, segregate and hold in trust as provided in Section 2.04) an amount of money sufficient to repurchase on the Business Day immediately preceding the Designated Event Repurchase Date all the Debentures to be repurchased on such
date at the appropriate repurchase price, together with accrued and unpaid interest and Liquidated Damages, if any, to, but excluding, the Designated Event Repurchase Date; provided that if such payment is made on the Designated Event Repurchase
Date it must be received by the Trustee or Paying Agent, as the case may be, by 10:00 a.m. New York City time, on such date. Payment for Debentures surrendered for repurchase (and not withdrawn) prior to the Designated Event Expiration Time will be
made promptly (but in no event more than five (5) Business Days) following the later of (x) the Business Day immediately 

  

 33 

 
following the Designated Event Repurchase Date, and (y) the time of book-entry transfer or delivery of the Debenture surrendered for repurchase, by
(i) mailing checks for the amount payable to the Holders of such Debentures entitled thereto as they shall appear in the Debenture Register or (ii) on any Global Debenture by wire transfer of immediately available funds to the account of
the Depositary or its nominee. 
 If on the Business Day immediately following the Designated Event Repurchase Date the Trustee or other
Paying Agent appointed by the Company, or the Company if the Company is acting as the Paying Agent, holds money sufficient to repurchase all the Debentures or portions thereof that are to be purchased as of the Designated Event Repurchase Date,
then, on and after such date (i) the Debentures will cease to be outstanding, (ii) interest and Liquidated Damages, if any, on the Debentures will cease to accrue, and (iii) all other rights of the Holders of such Debentures will
terminate, whether or not book-entry transfer of the Debentures has been made or the Debentures have been delivered to the Trustee or Paying Agent, other than the right to receive the repurchase price upon delivery of the Debentures. 
 (f) The Company will comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act to the extent
applicable and file a Schedule TO or any other required schedule or form under the Exchange Act to the extent then applicable in connection with the repurchase rights of the Holders of Debentures in the event of a Designated Event. 
 ARTICLE 4 
 COVENANTS 
 Section 4.01 Payment of Debentures. 
 The Company
will pay or cause to be paid the principal of, premium, if any, and interest and Liquidated Damages, if any, on, the Debentures on the dates and in the manner provided in the Debentures. Principal, premium, if any, and interest and Liquidated
Damages, if any will be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. New York City time on the due date money deposited by the Company in immediately available funds
and designated for and sufficient to pay all principal, premium, if any, and interest then due. The Company will pay all Liquidated Damages, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement.

 The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the
rate equal to 1% per annum in excess of the then applicable interest rate on the Debentures to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest and Liquidated Damages (without regard to any applicable grace period) at the same rate to the extent lawful. 
 Section 4.02 Maintenance of
Office or Agency. 
 The Company will maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an
office of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Debentures may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Debentures 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 fails to maintain any such required office or agency or
fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 
  

 34 

 The Company may also from time to time designate one or more other offices or agencies where the
Debentures may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to
maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. 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 Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in
accordance with Section 2.03 hereof. 
 Section 4.03 Reports. 
 (a) Whether or not required by the rules and regulations of the SEC, so long as any Debentures are outstanding, the Company will furnish to the Holders of Debentures or cause the Trustee to furnish to the Holders of
Debentures, within the time periods specified in the SEC’s rules and regulations: 
 (1) all quarterly and annual reports
that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required to file reports, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect
to the annual information only, a report thereon by the Company’s certified independent accountants; and 
 (2) all
current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports. 
 (b) For so
long as any Debentures remain outstanding, if at any time they are not required to file with the SEC the reports required by paragraph (a) of this Section 4.03, the Company and the Guarantors will furnish to the Holders and to securities
analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 Section 4.04 Compliance Certificate. 
 (a) The Company and each Guarantor (to the extent that such Guarantor is so required
under the TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made
under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate,
that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and
conditions of this Indenture (or, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto)
and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Debentures is prohibited or if such event has occurred, a description
of the event and what action the Company is taking or proposes to take with respect thereto. 
 (b) So long as not contrary to the then
current recommendations of the American Institute of Certified Public Accountants, the year-end financial statements delivered pursuant to Section 4.03 above shall be accompanied by a written statement of the Company’s independent public
accountants (who shall 

  

 35 

 
be a firm of established national reputation) that in making the examination necessary for certification of such financial statements, nothing has come to
their attention that would lead them to believe that the Company has violated any provisions of Article 4 hereof or, if any such violation has occurred, specifying the nature and period of existence thereof, it being understood that such accountants
shall not be liable directly or indirectly to any Person for any failure to obtain knowledge of any such violation. 
 (c) So long as any of
the Debentures are outstanding, the Company will deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the
Company is taking or proposes to take with respect thereto. 
 Section 4.05 Taxes. 
 The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies
except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Debentures. 
 Section 4.06 Stay, Extension and Usury Laws. 
 The
Company and each of the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever
enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, and covenants that it will not, 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 has been enacted. 
 Section 4.07 Corporate Existence. 
 Subject to Article 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect: 
 (1) its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the
respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 
 (2) the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate,
partnership or other existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that
the loss thereof is not adverse in any material respect to the Holders of the Debentures. 
 Section 4.08 No Layering of Debt. 
 The Company will not incur, and will not permit any Guarantor to incur, any Indebtedness that is contractually subordinated in right of payment to any
other Indebtedness of the Company or such Guarantor unless such Indebtedness is also contractually subordinated in right of payment to the 

  

 36 

 
Debentures and the applicable Debenture Guarantee on substantially identical terms; provided, however, that no Indebtedness will be deemed to be
contractually subordinated in right of payment to any other Indebtedness of the Company solely by virtue of being unsecured or by virtue of being secured on a first or junior Lien basis. 
 Section 4.09 Payments for Consent. 
 The Company will not, and will not permit any of its
Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder of Debentures for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or
the Debentures unless such consideration is offered to be paid and is paid to all Holders of the Debentures that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or
agreement. 
 Section 4.10 Additional Debenture Guarantees. 
 If the Company or any of the Guarantors acquires or creates another Domestic Subsidiary after the date of this Indenture, then that newly acquired or created Domestic Subsidiary will become a Guarantor and execute a
supplemental indenture and deliver an Opinion of Counsel satisfactory to the Trustee within ten Business Days of the date on which it was acquired or created; provided that any Domestic Subsidiary that constitutes an Immaterial Subsidiary
need not become a Guarantor until such time as it ceases to be an Immaterial Subsidiary. 
 ARTICLE 5 
 SUCCESSORS 
 Section 5.01 Merger, Consolidation, or Sale of
Assets. 
 The Company shall not, directly or indirectly: (i) consolidate or merge with or into another Person (whether or not the
Company is the surviving corporation); or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole, in one or more related transactions,
to another Person, unless: 
 (1) either: 
 (A) the Company is the surviving corporation; or 
 (B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment,
transfer, conveyance or other disposition has been made is a corporation organized or existing under the laws of the United States, any state of the United States or the District of Columbia; 
 (2) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such sale,
assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under the Debentures, this Indenture and the Registration Rights Agreement pursuant to agreements reasonably satisfactory to the Trustee;
and 
 (3) immediately after such transaction, no Default or Event of Default exists. 
  

 37 

 In addition, the Company will not, directly or indirectly, lease all or substantially all of the
properties and assets of it and its Subsidiaries taken as a whole, in one or more related transactions, to any other Person. This Section 5.01 will not apply to: 
 (1) a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction; or

 (2) any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of assets
between or among the Company and the Guarantors. 
 Section 5.02 Successor Corporation Substituted. 
 Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties
or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the successor Person formed by such consolidation or into or with which the Company is merged or to which such sale,
assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the
provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Debentures except in the case of a sale of all of the
Company’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof. 
 ARTICLE 6

 DEFAULTS AND REMEDIES 
 Section 6.01 Events
of Default. 
 Each of the following is an “Event of Default”: 
 (1) default for 30 days in the payment when due of interest on, or Liquidated Damages, if any, with respect to, the Debentures;

 (2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any,
on, the Debentures; 
 (3) default in the Company’s obligation to deliver shares of Common Stock, cash or other property
upon conversion of the Debentures as required under this Indenture and such default continues for a period of five (5) days; 
 (4) failure to pay the make whole premium, if any, when due upon conversion of the Debentures, and such default continues for a period of ten (10) days; 
 (5) failure to provide notice of a specified corporate transaction or the occurrence of a Designated Event on a timely basis; 

(6) failure by the Company or any of the Guarantors for 60 days after notice to the Company by the Trustee or the Holders of at least
25% in aggregate principal amount of 

  

 38 

 
the Debentures then outstanding voting as a single class to comply with any of the other agreements in this Indenture; 
 (7) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any
Indebtedness for money borrowed by the Company or any of its Subsidiaries (or the payment of which is guaranteed by the Company or any of its Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created after the date of this
Indenture, if that default: 
  

	 	(a)	is caused by a failure to pay principal of, or interest or premium, if any, on, such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the
date of such default (a “Payment Default”); or 

  

	 	(b)	results in the acceleration of such Indebtedness prior to its express maturity, 

 and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so
accelerated, aggregates $15.0 million or more; 
 (8) failure by the Company or any of the Guarantors to pay final judgments
entered by a court or courts of competent jurisdiction aggregating in excess of $15.0 million, which judgments are not paid, discharged or stayed for a period of 60 days; 
 (9) any Debenture Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force
and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms its obligations under its Debenture Guarantee; and 
 (10) certain events of bankruptcy or insolvency described in this Indenture with respect to the Company or any of its Subsidiaries that is a Significant Subsidiary or any group of Subsidiaries that, taken together,
would constitute a Significant Subsidiary. 
 Section 6.02 Acceleration. 
 In the case of an Event of Default specified in clause (10) of Section 6.01 hereof, with respect to the Company, any Subsidiary of the Company
that is a Significant Subsidiary or any group of Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, all outstanding Debentures will become due and payable immediately without further action or notice. If any
other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Debentures may declare all the Debentures to be due and payable immediately. Upon any such declaration,
the Debentures shall become due and payable immediately. 
 The Holders of a majority in aggregate principal amount of the then outstanding
Debentures by written notice to the Trustee may, on behalf of all of the Holders, rescind an acceleration and its consequences, if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment
of principal, interest or premium or Liquidated Damages, if any, that has become due solely because of the acceleration) have been cured or waived. 
 If an Event of Default occurs prior to May 15, 2013 by reason of any willful action (or inaction) taken (or not taken) by or on behalf of the Company with the intention of avoiding the prohibition on 

  

 39 

 
redemption of the Debentures prior to such date, then, upon acceleration of the Debentures, an additional premium shall also become and be immediately due
and payable, to the extent permitted by law, in an amount equal to the present value at the date of the Event of Default of all required interest payments due on the Debentures through May 15, 2013 (excluding accrued but unpaid interest to the
date of the Event of Default) computed using a discount rate equal to the Treasury Rate as of the date of the Event of Default plus 50 basis points. 
 Section 6.03 Other Remedies. 
 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal, premium and Liquidated Damages, if any, and interest on the Debentures or to enforce the performance of any provision of the Debentures or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Debentures or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Holder of a Debenture in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 
 Section 6.04 Waiver of Past Defaults. 
 Holders of not less than a majority in aggregate principal amount of the then outstanding Debentures by notice to the Trustee may on behalf of the
Holders of all of the Debentures waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium and Liquidated Damages, if any, or interest
on, the Debentures (including in connection with an offer to purchase). 
 Section 6.05 Control by Majority. 
 Holders of a majority in aggregate principal amount of the then outstanding Debentures may direct the time, method and place of conducting any proceeding
for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Debentures or that may involve the Trustee in personal liability. 
 Section 6.06 Limitation on Suits.

 A Holder may pursue a remedy with respect to this Indenture or the Debentures only if: 
 (1) such Holder gives to the Trustee notice that an Event of Default is continuing; 
 (2) Holders of at least 25% in aggregate principal amount of the then outstanding Debentures make a request to the Trustee to pursue the
remedy; 
 (3) such Holder or Holders offer and, if requested, provide to the Trustee security or indemnity reasonably
satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee does not comply with the request within
60 days after receipt of the request and the offer of security or indemnity; and 
  

 40 

 (5) during such 60-day period, Holders of a majority in aggregate principal amount of the
then outstanding Debentures do not give the Trustee a direction inconsistent with such request. 
 A Holder of a Debenture may not use this
Indenture to prejudice the rights of another Holder of a Debenture or to obtain a preference or priority over another Holder of a Debenture. 
 Section 6.07
Rights of Holders of Debentures to Receive Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder
of a Debenture to receive payment of principal, premium and Liquidated Damages, if any, and interest on the Debenture, on or after the respective due dates expressed in the Debenture (including in connection with an offer to purchase), or to bring
suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 Section 6.08 Collection Suit by Trustee. 
 If an Event of Default specified in Section 6.01(1) or (2) hereof
occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company and the Guarantors for the whole amount of principal of, premium and Liquidated Damages, if any, and
interest remaining unpaid on, the Debentures and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel. 
 Section 6.09 Trustee May File Proofs of Claim. 
 The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Debentures allowed in any judicial proceedings relative to the Company (or any other
obligor upon the Debentures), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, 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, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or
arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the
Debentures or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

 41 

 Section 6.10 Priorities. 
 If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee
and the costs and expenses of collection; 
 Second: to Holders of Debentures for amounts due and unpaid on the
Debentures for principal, premium and Liquidated Damages, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Debentures for principal, premium and Liquidated Damages, if any and
interest, respectively; and 
 Third: to the Company or to such party as a court of competent jurisdiction shall
direct. 
 The Trustee may fix a record date and payment date for any payment to Holders of Debentures pursuant to this Section 6.10.

 Section 6.11 Undertaking for Costs. 
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the
suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Debenture pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal
amount of the then outstanding Debentures. 
 ARTICLE 7 
 TRUSTEE 
 Section 7.01 Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and
use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
 (b) Except during the continuance of an Event of Default: 
 (1) the duties of the Trustee
will be determined solely by the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and 
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this 

  

 42 

 
Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture.

 (c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

 (2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is
proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will not be liable with
respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof. 
 (d) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01. 
 (e) No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be under no
obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has furnished to the Trustee security and indemnity satisfactory to it against any loss, liability or expense. 
 (f) The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in
trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 Section 7.02 Rights of Trustee. 
 (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The
Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may
require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee may
consult with counsel and the written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in
reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of
any agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes or omits to take in good faith that it
believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided
in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. 
 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have furnished to 

  

 43 

 
the Trustee reasonable indemnity or security against the losses, liabilities and expenses that might be incurred by it in compliance with such request or
direction. 
 Section 7.03 Individual Rights of Trustee. 
 The Trustee in its individual or any other capacity may become the owner or pledgee of Debentures and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were
not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee (if this Indenture has been qualified under the TIA) or
resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 
 Section 7.04
Trustee’s Disclaimer. 
 The Trustee will not be responsible for and makes no representation as to the validity or adequacy of
this Indenture or the Debentures, it shall not be accountable for the Company’s use of the proceeds from the Debentures or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it will not be
responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Debentures or any other document in connection with
the sale of the Debentures or pursuant to this Indenture other than its certificate of authentication. 
 Section 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders of Debentures a notice
of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium or Liquidated Damages, if any, or interest on, any Debenture, the Trustee may withhold the
notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Debentures. 
 Section 7.06 Reports by Trustee to Holders of the Debentures. 
 (a) Within 60 days after each
May 15 beginning with the May 15 following the date of this Indenture, and for so long as Debentures remain outstanding, the Trustee will mail to the Holders of the Debentures a brief report dated as of such reporting date that complies
with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The
Trustee will also transmit by mail all reports as required by TIA § 313(c). 
 (b) A copy of each report at the time of its mailing
to the Holders of Debentures will be mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which the Debentures are listed in accordance with TIA § 313(d). The Company will promptly notify
the Trustee in writing when the Debentures are listed on any stock exchange. 
 Section 7.07 Compensation and Indemnity. 
 (a) The Company will pay to the Trustee from time to time reasonable compensation for its acceptance of this Indenture and services hereunder. The
Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it
in 

  

 44 

 
addition to the compensation for its services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s
agents and counsel. 
 (b) The Company and the Guarantors will indemnify the Trustee against any and all losses, liabilities or expenses
incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company and the Guarantors (including this
Section 7.07) and defending itself against any claim (whether asserted by the Company, the Guarantors, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, liability or expense may be attributable to its negligence or bad faith. The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company will not
relieve the Company or any of the Guarantors of their obligations hereunder. The Company or such Guarantor will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Company will pay the
reasonable fees and expenses of such counsel. Neither the Company nor any Guarantor need pay for any settlement made without its consent, which consent will not be unreasonably withheld. 
 (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive the satisfaction and discharge of this Indenture.

 (d) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the Trustee will have a Lien
prior to the Debentures on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Debentures. Such Lien will survive the satisfaction and discharge of this Indenture. 

(e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(10) hereof occurs, the expenses and
the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 
 (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 
 Section 7.08 Replacement of Trustee. 
 (a) A
resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority
in aggregate principal amount of the then outstanding Debentures may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof; 
 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law; 
 (3) a custodian or public officer takes charge of the Trustee or its property; or 
 (4) the Trustee becomes incapable of acting. 
  

 45 

 (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason,
the Company will promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Debentures may appoint a successor Trustee to replace
the successor Trustee appointed by the Company. 
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Debentures may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 (e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will become effective, and the
successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders. The retiring Trustee will promptly transfer all property held by it as Trustee
to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the
Company’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 
 Section 7.09 Successor Trustee by
Merger, etc. 
 If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust
business to, another corporation, the successor corporation without any further act will be the successor Trustee. 
 Section 7.10 Eligibility;
Disqualification. 
 There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of
the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of
at least $100.0 million as set forth in its most recent published annual report of condition. 
 This Indenture will always have a Trustee
who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b). 
 Section 7.11
Preferential Collection of Claims Against Company. 
 The Trustee is subject to TIA § 311(a), excluding any creditor
relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
  

 46 

 ARTICLE 8 
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

 The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Debentures upon compliance with the conditions set forth below in this Article 8. 
 Section 8.02 Legal Defeasance and Discharge. 
 Upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.02, the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from
their obligations with respect to all outstanding Debentures (including the Debenture Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means
that the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Debentures (including the Debenture Guarantees), which will thereafter be deemed to be “outstanding” only
for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all their other obligations under such Debentures, the Debenture Guarantees and this
Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder:

 (1) the rights of Holders of outstanding Debentures to receive payments in respect of the principal of, or interest or
premium and Liquidated Damages, if any, on, such Debentures when such payments are due from the trust referred to in Section 8.04 hereof; 
 (2) the Company’s obligations with respect to such Debentures under Article 2 and Section 4.02 hereof; 
 (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s and the Guarantors’ obligations in connection therewith; and 
 (4) this Article 8. 
 Subject
to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 
 Upon the Company’s exercise under Section 8.01 hereof
of the option applicable to this Section 8.03, the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of their obligations under the covenants
contained in Sections 4.03, 4.04 (other than Section 4.04(a)), 4.07, 4.08, 4.09 and 4.10 hereof and clause (4) of Section 5.01 hereof with respect to the outstanding Debentures on and after the date the conditions set forth in
Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Debentures will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Debentures will not be deemed outstanding for
accounting purposes). For this purpose, Covenant Defeasance means that, 

  

 47 

 
with respect to the outstanding Debentures and Debenture Guarantees, the Company and the Guarantors may omit to comply with and will have no liability in
respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision
herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Debentures and Debenture
Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, Sections 6.01(3) through 6.01(5) hereof will not constitute Events of Default. 
 Section 8.04 Conditions to Legal or Covenant Defeasance.

 In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 
 (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, premium and
Liquidated Damages, if any, and interest on, the outstanding Debentures on the stated date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether the Debentures are being defeased to such
stated date for payment or to a particular redemption date; 
 (2) in the case of an election under Section 8.02 hereof,
the Company must deliver to the Trustee an Opinion of Counsel confirming that: 
 (A) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling; or 
 (B) since the date of this Indenture, there has been a
change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Debentures will not recognize income, gain or loss for federal income
tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 
 (3) in the case of an election under Section 8.03 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming
that the Holders of the outstanding Debentures will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (4) no Default or Event of Default
shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, 

  

 48 

 
or constitute a default under, any other instrument to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound;

 (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default
under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 
 (6) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders of Debentures over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 
 (7) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 Section 8.05 Deposited Money and Government Securities
to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all money and non-callable Government
Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the
outstanding Debentures will be held in trust and applied by the Trustee, in accordance with the provisions of such Debentures and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying
Agent) as the Trustee may determine, to the Holders of such Debentures of all sums due and to become due thereon in respect of principal, premium and Liquidated Damages, if any, and interest, but such money need not be segregated from other funds
except to the extent required by law. 
 The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of
the Holders of the outstanding Debentures. 
 Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to
the Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance. 
 Section 8.06 Repayment to Company. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium or
Liquidated Damages, if any, or interest on, any Debenture and remaining unclaimed for two years after such principal, premium or Liquidated Damages, if any, or interest has become due and payable shall be paid to the Company on its request or (if
then held by the Company) will be discharged from such trust; and the Holder of such Debenture will thereafter be permitted to 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 all liability of the Company as trustee thereof, will thereupon 

  

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cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company
cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such
notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company. Any money held by the Trustee pursuant to this Section 8,06 shall be held uninvested and without liability for interest. 

Section 8.07 Reinstatement. 
 If the Trustee or
Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Company’s and the Guarantors’ obligations under this Indenture and the Debentures and the Debenture Guarantees will be revived and reinstated as though no deposit had occurred
pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company
makes any payment of principal of, premium or Liquidated Damages, if any, or interest on, any Debenture following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Debentures to receive such
payment from the money held by the Trustee or Paying Agent. 
 ARTICLE 9 
 AMENDMENT, SUPPLEMENT AND WAIVER 
 Section 9.01 Without Consent of Holders of Debentures.

 Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee may amend or supplement this Indenture or
the Debentures or the Debenture Guarantees without the consent of any Holder of Debenture: 
 (1) to cure any ambiguity,
defect or inconsistency; 
 (2) to provide for uncertificated Debentures in addition to or in place of certificated
Debentures; 
 (3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders of the
Debentures and Debenture Guarantees by a successor to the Company or such Guarantor pursuant to Article 5 or Article 10 hereof; 
 (4) to make any change that would provide any additional rights or benefits to the Holders of the Debentures or that does not adversely affect the legal rights hereunder of any Holder; 
 (5) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 

(6) to conform the text of this Indenture, the Debentures or the Debenture Guarantees to any provision of the “Description of
Debentures” section of the Company’s Offering Memorandum dated May 9, 2006, relating to the initial offering of the Debentures, to the extent that such provision in that “Description of Debentures” was intended to be a

  

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verbatim recitation of a provision of this Indenture, the Debenture Guarantees or the Debentures; 
 (7) to provide for the issuance of Additional Debentures in accordance with the limitations set forth in this Indenture as of the date
hereof; or 
 (8) to allow any Guarantor to execute a supplemental indenture and/or a Debenture Guarantee with respect to the
Debentures. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such
amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company and the Guarantors in the execution of any amended or supplemental indenture authorized
or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its
own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02 With Consent of Holders of Debentures. 
 Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture and the Debentures and the
Debenture Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Debentures (including, without limitation, Additional Debentures, if any) voting as a single class (including, without
limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Debentures), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other than a Default or Event of Default
in the payment of the principal of, premium or Liquidated Damages, if any, or interest on, the Debentures, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the
Debentures or the Debenture Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Debentures (including, without limitation, Additional Debentures, if any) voting as a single
class (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Debentures). Section 2.08 hereof shall determine which Debentures are considered to be
“outstanding” for purposes of this Section 9.02. 
 Upon the request of the Company accompanied by a resolution of its Board
of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Debentures as aforesaid, and upon receipt by the
Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 It is not be necessary for the consent of the Holders of Debentures under this Section 9.02 to approve the particular form of any proposed
amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or
waiver under this Section 9.02 becomes effective, the Company will mail to the Holders of Debentures affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amended or supplemental 

  

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indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Debentures then outstanding
voting as a single class may waive compliance in a particular instance by the Company with any provision of this Indenture or the Debentures or the Debenture Guarantees. However, without the consent of each Holder affected, an amendment, supplement
or waiver under this Section 9.02 may not (with respect to any Debentures held by a non-consenting Holder): 
 (1) reduce
the principal amount of Debentures whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce the
principal of or change the fixed maturity of any Debenture or alter or waive any of the provisions with respect to the redemption of the Debentures; 
 (3) reduce the rate of or change the time for payment of interest, including default interest or Liquidated Damages, if any, on any Debenture; 
 (4) waive a Default or Event of Default in the payment of principal of, or premium or Liquidated Damages, if any, or interest on, the
Debentures (except a rescission of acceleration of the Debentures by the Holders of at least a majority in aggregate principal amount of the then outstanding Debentures and a waiver of the payment default that resulted from such acceleration);

 (5) make any Debenture payable in money other than that stated in the Debentures; 
 (6) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Debentures to
receive payments of principal of, or interest or premium or Liquidated Damages, if any, on, the Debentures; 
 (7) waive a
redemption payment with respect to any Debenture; 
 (8) release any Guarantor from any of its obligations under its Debenture
Guarantee or this Indenture, except in accordance with the terms of this Indenture; 
 (9) reduce the amount of the make whole
premium or otherwise impair the right of a Holder to receive the make whole premium due on any Debenture; 
 (10) adversely
change the Company’s obligation to repurchase any Debenture upon a Designated Event; 
 (11) impair the right of a Holder
to convert any Debenture or reduce the amount of cash, the number of shares of Common Stock or the amount of any other property receivable upon conversion; 
 (12) waive a Default or Event of Default in the payment of the repurchase price (upon a repurchase at the option of a Holder or a repurchase upon a Designated Event); 
 (13) waive a Default or Event of Default in the payment of the make whole premium when due; or 
 (14) make any change in the preceding amendment and waiver provisions. 
  

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 Section 9.03 Compliance with Trust Indenture Act. 
 Every amendment or supplement to this Indenture or the Debentures will be set forth in a amended or supplemental indenture that complies with the TIA as
then in effect. 
 Section 9.04 Revocation and Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Debenture is a continuing consent by the Holder of a Debenture and every subsequent Holder of a Debenture or portion of a
Debenture that evidences the same debt as the consenting Holder’s Debenture, even if notation of the consent is not made on any Debenture. However, any such Holder of a Debenture or subsequent Holder of a Debenture may revoke the consent as to
its Debenture if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every
Holder. 
 Section 9.05 Notation on or Exchange of Debentures. 
 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Debenture thereafter authenticated. The Company in exchange for all Debentures may issue and the Trustee shall, upon
receipt of an Authentication Order, authenticate new Debentures that reflect the amendment, supplement or waiver. 
 Failure to make the
appropriate notation or issue a new Debenture will not affect the validity and effect of such amendment, supplement or waiver. 
 Section 9.06 Trustee to
Sign Amendments, etc. 
 The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the
amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves it. In executing any
amended or supplemental indenture, the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section 12.04 hereof, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture. 
 ARTICLE 10 
 DEBENTURE GUARANTEES 
 Section 10.01. Guarantee. 
 (a) Subject to this Article 10, each of the Guarantors
hereby, jointly and severally, unconditionally guarantees to each Holder of a Debenture authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture,
the Debentures or the obligations of the Company hereunder or thereunder, that: 
 (1) the principal of, premium and
Liquidated Damages, if any, and interest on, the Debentures will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Debentures, if any, if
lawful, and all other obligations of the Company to the Holders or the 

  

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Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 
 (2) in case of any extension of time of payment or renewal of any Debentures or any of such other obligations, that same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 
 Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors will be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that
this is a guarantee of payment and not a guarantee of collection. 
 (b) The Guarantors hereby agree that their obligations hereunder are
unconditional, irrespective of the validity, regularity or enforceability of the Debentures or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Debentures with respect to any provisions hereof
or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this
Debenture Guarantee will not be discharged except by complete performance of the obligations contained in the Debentures and this Indenture. 
 (c) If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any
amount paid by either to the Trustee or such Holder, this Debenture Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect. 
 (d) Each Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby.
Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the
purposes of this Debenture Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such
obligations as provided in Article 6 hereof, such obligations (whether or not due and payable) will forthwith become due and payable by the Guarantors for the purpose of this Debenture Guarantee. The Guarantors will have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Debenture Guarantee. 
 Section 10.02. Limitation on Guarantor Liability. 
 Each Guarantor, and by its acceptance of Debentures, each Holder,
hereby confirms that it is the intention of all such parties that the Debenture Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform
Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Debenture Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such
Guarantor will be limited to the maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections
from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the 

  

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obligations of such other Guarantor under this Article 10, result in the obligations of such Guarantor under its Debenture Guarantee not constituting a
fraudulent transfer or conveyance. 
 Section 10.03. Execution and Delivery of Debenture Guarantee. 
 To evidence its Debenture Guarantee set forth in Section 10.01 hereof, each Guarantor hereby agrees that a notation of such Debenture Guarantee
substantially in the form attached as Exhibit E hereto will be endorsed by an Officer of such Guarantor on each Debenture authenticated and delivered by the Trustee and that this Indenture will be executed on behalf of such Guarantor by one of its
Officers. 
 Each Guarantor hereby agrees that its Debenture Guarantee set forth in Section 10.01 hereof will remain in full force and
effect notwithstanding any failure to endorse on each Debenture a notation of such Debenture Guarantee. 
 If an Officer whose signature is
on this Indenture or on the Debenture Guarantee no longer holds that office at the time the Trustee authenticates the Debenture on which a Debenture Guarantee is endorsed, the Debenture Guarantee will be valid nevertheless. 
 The delivery of any Debenture by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Debenture Guarantee set
forth in this Indenture on behalf of the Guarantors. 
 In the event that the Company or any of its Subsidiaries creates or acquires any
Domestic Subsidiary after the date of this Indenture, if required by Section 4.10 hereof, the Company will cause such Domestic Subsidiary to comply with the provisions of Section 4.10 hereof and this Article 10, to the extent applicable.

 Section 10.04. Guarantors May Consolidate, etc., on Certain Terms. 
 Except as otherwise provided in Section 10.05 hereof, no Guarantor may sell or otherwise dispose of all or substantially all of its assets to, or
consolidate with or merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Company or another Guarantor, unless: 
 (1) immediately after giving effect to such transaction, no Default or Event of Default exists; and 
 (2) subject to Section 10.05 hereof, the Person acquiring the property in any such sale or disposition or the Person formed by or
surviving any such consolidation or merger unconditionally assumes all the obligations of that Guarantor under this Indenture, its Debenture Guarantee and the Registration Rights Agreement on the terms set forth herein or therein, pursuant to a
supplemental indenture in form and substance reasonably satisfactory to the Trustee; or 
 In case of any such consolidation, merger, sale or
conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the Debenture Guarantee endorsed upon the Debentures and the due and punctual
performance of all of the covenants and conditions of this Indenture to be performed by the Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor.
Such successor Person thereupon may cause to be signed any or all of the Debenture Guarantees to be endorsed upon all of the Debentures issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. All
the Debenture Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the 

  

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Debenture Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Debenture Guarantees had been
issued at the date of the execution hereof. 
 Except as set forth in Articles 4 and 5 hereof, nothing contained in this Indenture or in any
of the Debentures will prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the
Company or another Guarantor. 
 Section 10.05. Releases. 
 (a) In the event of any sale or other disposition of all or substantially all of the assets of any Guarantor, by way of merger, consolidation or otherwise, or a sale or other disposition of all of the Capital Stock of
any Guarantor, in each case to a Person that is not (either before or after giving effect to such transactions) the Company or a Subsidiary of the Company, then such Guarantor (in the event of a sale or other disposition, by way of merger,
consolidation or otherwise, of all of the Capital Stock of such Guarantor) or the corporation acquiring the property (in the event of a sale or other disposition of all or substantially all of the assets of such Guarantor) will be released and
relieved of any obligations under its Debenture Guarantee. Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in accordance
with the provisions of this Indenture, including without limitation Section 4.10 hereof, the Trustee will execute any documents reasonably required in order to evidence the release of any Guarantor from its obligations under its Debenture
Guarantee. 
 (b) Upon Legal Defeasance in accordance with Article 8 hereof or satisfaction and discharge of this Indenture in accordance
with Article 11 hereof, each Guarantor will be released and relieved of any obligations under its Debenture Guarantee. 
 Any Guarantor not
released from its obligations under its Debenture Guarantee as provided in this Section 10.05 will remain liable for the full amount of principal of and interest and premium and Liquidated Damages, if any, on the Debentures and for the other
obligations of any Guarantor under this Indenture as provided in this Article 10. 
 ARTICLE 11 
 SATISFACTION AND DISCHARGE 
 Section 11.01 Satisfaction and
Discharge. 
 This Indenture will be discharged and will cease to be of further effect as to all Debentures issued hereunder, when:

 (1) either: 
 (a) all Debentures that have been authenticated, except lost, stolen or destroyed Debentures that have been replaced or paid and Debentures for whose payment money has theretofore been deposited in trust and
thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 
 (b) all Debentures that have not
been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably deposited or
caused to be deposited with the Trustee as trust funds in trust solely for the benefit of 

  

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the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration
of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Debentures not delivered to the Trustee for cancellation for principal, premium and Liquidated Damages, if any, and accrued interest to the date of maturity or
redemption; 
 (2) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a
Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company or any Guarantor
is a party or by which the Company or any Guarantor is bound; 
 (3) the Company or any Guarantor has paid or caused to be
paid all sums payable by it under this Indenture; and 
 (4) the Company has delivered irrevocable instructions to the Trustee
under this Indenture to apply the deposited money toward the payment of the Debentures at maturity or on the redemption date, as the case may be. 
 In
addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of clause
(1) of this Section 11.01, the provisions of Sections 11.02 and 8.06 hereof will survive. In addition, nothing in this Section 11.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms,
survive the satisfaction and discharge of this Indenture. 
 Section 11.02 Application of Trust Money. 
 Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 11.01 hereof shall be held in trust
and applied by it, in accordance with the provisions of the Debentures and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal (and premium and Liquidated Damages, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent
required by law. 
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with
Section 11.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s
obligations under this Indenture and the Debentures shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that if the Company has made any payment of principal of, premium or
Liquidated Damages, if any, or interest on, any Debentures because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Debentures to receive such payment from the money or Government
Securities held by the Trustee or Paying Agent. 
  

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 ARTICLE 12 
 MISCELLANEOUS 
 Section 12.01 Trust Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties will control.

 Section 12.02 Notices. 
 Any notice or
communication by the Company, any Guarantor or the Trustee to the others is duly given if in writing and delivered in person or by first class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier
guaranteeing next day delivery, to the others’ address: 
 If to the Company and/or any Guarantor: 
 Broadwing Corporation 
 1122 Capital of Texas
Highway, South 
 Austin, TX 78746 
 Facsimile No.: (512) 328-7902 
 Attention: General Counsel 
 With a copy to: 
 Mayer, Brown,
Rowe & Maw LLP 
 71 South Wacker Drive 
 Chicago, IL 60606 
 Facsimile No.: (312) 701-7711 
 Attention: Philip J. Niehoff, Esq. 
 If to
the Trustee: 
 J.P. Morgan Trust Company, National Association 
 600 Travis Street, Suite 1150 
 Houston, TX 77002 
 Facsimile No.: (713) 216-2431 
 Attention: Mary Jane Henson 
 The Company, any Guarantor or the Trustee, by notice to the others, may designate additional or
different addresses for subsequent notices or communications. 
 All notices and communications (other than those sent to Holders) will be
deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business
Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Any notice or communication to
a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will
also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders.

  

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 If a notice or communication is mailed in the manner provided above within the time prescribed, it is
duly given, whether or not the addressee receives it. 
 If the Company mails a notice or communication to Holders, it will mail a copy to
the Trustee and each Agent at the same time. 
 Section 12.03 Communication by Holders of Debentures with Other Holders of Debentures. 
 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Debentures. The
Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 Section 12.04 Certificate and Opinion as to
Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under this Indenture, the
Company shall furnish to the Trustee: 
 (1) an Officers’ Certificate in form and substance reasonably satisfactory to
the Trustee (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have
been satisfied; and 
 (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must
include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 
 Section 12.05 Statements Required in Certificate or Opinion. 
 Each certificate or opinion with
respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the provisions of TIA § 314(e) and must include: 
 (1) a statement that the Person making such certificate or opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 
 (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied. 
 Section 12.06 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. 
  

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 Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders. 
 No past, present or future director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for
any obligations of the Company or the Guarantors under the Debentures, this Indenture, the Debenture Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Debentures by accepting a
Debenture waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Debentures. The waiver may not be effective to waive liabilities under the federal securities laws. 
 Section 12.08 Governing Law. 
 THE INTERNAL LAW OF
THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE DEBENTURES AND THE DEBENTURE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY. 
 Section 12.09 No Adverse Interpretation of Other Agreements. 
 This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.10 Successors. 
 All agreements of the Company in this Indenture and the Debentures will bind its successors. All agreements of the Trustee in this Indenture will bind
its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 10.05 hereof. 
 Section 12.11 Severability. 
 In case any provision in this Indenture or in the Debentures is invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 
 Section 12.12
Counterpart Originals. 
 The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all
of them together represent the same agreement. 
 Section 12.13 Table of Contents, Headings, etc. 
 The Table of Contents, Cross-Reference Table 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 of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 
  

 60 

 ARTICLE 13 
 CONVERSION 
 Section 13.01 Conversion Right and Conversion Rate. 
 (a) Subject to and upon compliance with the provisions of this Article 13, at the option of the Holder thereof, any portion of the principal amount of
any Debenture that is an integral multiple of $1,000 may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in effect at the time of conversion. The Holders of the
Debentures may surrender Debentures for conversion at the applicable Conversion Rate at any time prior to the close of business on the Business Day immediately preceding the final maturity date of the Debentures. 
 (b) All calculations under this Article shall be made to the nearest cent or to the nearest one-hundredth of a share, as the case may be. 
 Section 13.02 Conversion Consideration. 
 (a) Upon
surrendering any Debentures for conversion, the Holder of such Debentures shall receive, in respect of each $1,000 principal amount of Debentures: shares of Common Stock at an initial conversion rate of 60.241 shares per $1,000 principal amount of
Debentures (the “Conversion Rate”), which is based on an initial conversion price of approximately $16.60 per share (the “Conversion Price”). The Conversion Rate (and Conversion Price) are subject to adjustment
described below. 
 If a Holder receives Common Stock upon conversion of Debentures, such Holder will also receive the associated rights
under any stockholder rights plan that the Company may adopt, whether or not the rights have separated from the Common Stock at the time of conversion unless, prior to conversion, the rights have expired, terminated or been exchanged. 
 Section 13.03 Exercise of Conversion Right.
 (a) In
order to exercise the conversion right: 
 (1) the Holder of any Definitive Debenture to be converted must: (i) complete
and manually sign a notice of conversion substantially in the form of Exhibit F hereto (the “Conversion Notice”); (ii) deliver the Conversion Notice and the Definitive Debenture (and the Certificate of Conversion &
Restricted Transfer (defined below), if applicable) to the Conversion Agent and the Company; and (iii) if required, furnish appropriate endorsements and transfer documents; or 
 (2) the holder of beneficial interests in any Global Debenture to be converted must comply with the Applicable Procedures to cause the
beneficial interests in such Global Debenture to be delivered to the Conversion Agent, 
 and in either case, the Holder of a Definitive Debenture or holder
of beneficial interests in a Global Debenture will, if required, pay all transfer or similar taxes and, if required pursuant to Section 13.03(b) hereof, pay funds equal to the interest payable on the next interest payment date. 
 The date on which a Holder of a Definitive Debenture or holder of a beneficial interest in a Global Debenture completes the requirements of this
Section 13.03(a) shall be deemed to be the date of 

  

 61 

 
conversion (the “Conversion Date”) for purposes of this Article 13. On and after the Conversion Date, the conversion by such Holder or
holder, as set forth in the Conversion Notice, shall become irrevocable. 
 (b) Debentures shall be deemed to have been converted immediately
prior to the close of business on the Conversion Date, and at such time the rights of the Holders of such Debentures as Holders shall cease, and the Person or Persons entitled to receive the shares of Common Stock, payable and issuable upon
conversion shall be treated for all purposes as the payee or payees of such payment and the record holder or holders of such Common Stock at such time. Following any Conversion Date, the Company shall satisfy its obligations with respect to such
conversion by either: 
 (1) delivering to the Trustee, for delivery to the Holder (or such other Person as may be named in
the relevant Conversion Notice), the cash payment, together with certificates representing the number of shares of Common Stock, payable and issuable upon such conversion; or 
 (2) delivering to such Holder (or such other Person as may be named in the relevant Conversion Notice) the cash payment, together with
such number of shares of Common Stock, payable and issuable upon such conversion in accordance with the Applicable Procedures, 
 in each case, together with
payment in lieu of any fractional shares, if any, as provided in Section 13.04 (such cash payment and delivery of shares, if any, the “Settlement”); provided that shares of Common Stock only will be deliverable in
certificated form if (i) the Holder or holder that is exercising such conversion has specifically requested in writing that delivery be in certificates or (ii) the Company determines that delivery is required in certificated shares either
because (A) delivery to the Holder (or such other Person named in the relevant Conversion Notice) is not practicable in accordance with the Applicable Procedures or (B) in the opinion of legal counsel, delivery is required in certificated
form in order to comply with the requirements of applicable securities laws. Settlement shall occur promptly. 
 (c) In the case of any
Debenture which is converted in part only, upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Debenture or Debentures of authorized denominations
in an aggregate principal amount equal to the unconverted portion of the principal amount of such Debenture. A Debenture may be converted in part, but only if the principal amount of such Debenture to be converted is any integral multiple of U.S.
$1,000 and the principal amount of such security to remain outstanding after such conversion is equal to U.S. $1,000 or any integral multiple of $1,000 in excess thereof. 
 (d) If shares of Common Stock to be issued upon conversion of a Restricted Debenture, or Debentures to be issued upon conversion of a Restricted Debenture in part only, are to be registered in a name other than that
of the Beneficial Owner of such Restricted Debenture, then such Holder must deliver to the Conversion Agent a certificate of conversion and restricted transfer in form and substance set forth in Exhibit G hereto (the “Certificate of
Conversion & Restricted Transfer”), dated the date of surrender of such Restricted Debenture and signed by such Beneficial Owner, as to compliance with the restrictions on transfer applicable to such Restricted Debenture. The
Certificate of Conversion & Restricted Transfer shall be required in addition to the Conversion Notice. None of the Trustee, any Conversion Agent, Registrar or transfer agent shall be required to register shares of Common Stock issued upon
conversion or any unconverted Debentures in the name of any Person other than that of the Holder or Beneficial Owner of the converted Restricted Debenture unless such Holder or Beneficial Owner has delivered a properly completed Certificate of
Conversion & Restricted Transfer. 
 All shares of Common Stock delivered upon conversion of Restricted Debentures shall bear
restrictive legends substantially in the form of the legends required to be set forth on the Restricted 

  

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Debentures pursuant to Section 2.06(f) hereof and shall be subject to the restrictions on transfer provided in such legends. Neither the Trustee nor any
Conversion Agent shall have any responsibility for the inclusion or content of any such restrictive legends on such Common Stock. 
 Section 13.04
Fractions of Shares.
 No fractional shares of Common Stock shall be issued upon conversion of any Debenture or Debentures. If more
than one Debenture shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Debentures (or
specified portions thereof) so surrendered. The number of fractional shares to be paid, if any, will be determined by the Closing Sale Price on the applicable Trading Day. Instead of any fractional share of Common Stock that would otherwise be
issuable upon conversion of any Debenture or Debentures (or specified portions thereof), the Company shall calculate and pay a cash adjustment for the fractional amount (calculated to the nearest 1/100th of a share) based upon the applicable
Conversion Price. 
 Section 13.05 Adjustment of Conversion Rate.
 (a) The Conversion Rate shall be subject to adjustment, without duplication, from time to time upon the occurrence of any of the following: 
 (1) Stock Dividends in Common Stock. In case the Company shall pay or make a dividend or other distribution on shares of Common
Stock payable exclusively in shares of Common Stock, the Conversion Rate in effect at the opening of business on the day following the date fixed for the determination of stockholders entitled to receive such dividend or other distribution shall be
increased by dividing such Conversion Rate by a fraction of which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination and the denominator shall be the sum of such
number of shares and the total number of shares constituting such dividend or other distribution, such increase to become effective immediately after the opening of business on the day following the date fixed for such determination. If, after any
such date fixed for determination, any dividend or distribution is not in fact paid, the Conversion Rate shall be immediately readjusted, effective as of the date the Company’s Board of Directors determines not to pay such dividend or
distribution, to the Conversion Rate that would have been in effect if such determination date had not been fixed. For the purposes of this clause (1), the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. The Company will not pay any dividend or make any distribution on shares of Common Stock held in the
treasury of the Company. 
 (2) Issuance of Rights or Warrants. In case the Company shall issue rights or warrants to
all or substantially all holders of its Common Stock entitling them for a period expiring within 45 days from the date of issuance of the rights or warrants to subscribe for or purchase shares of Common Stock at a price per share less than the
Current Market Price per share of Common Stock on the date fixed for the determination of stockholders entitled to receive such rights or warrants (other than any rights, options or warrants that (x) by their terms will also be issued to any
Holder upon conversion of a Debenture into shares of Common Stock without any action required by the Company or any other Person or (y) are distributed to shareholders of the Company upon a merger or consolidation in compliance with
Section 13.09 hereof), then the Conversion Rate in effect at the opening of business on the day following the date fixed for such determination shall be increased by dividing such Conversion Rate by a fraction: 
 (A) numerator of which shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such
determination plus the number of shares of Common Stock that the aggregate of the offering price of the total number of shares of Common Stock so offered for subscription or purchase would purchase at such Current Market Price; and 
  

 63 

 (B) the denominator of which shall be the number of shares of Common Stock outstanding at
the close of business on the date fixed for such determination plus the number of shares of Common Stock so offered for subscription or purchase, 
 such increase to become effective immediately after the opening of business on the day following the date fixed for such determination. If, after any such date fixed for determination, any such rights, options or warrants are not in fact
issued, or are not exercised prior to the expiration thereof, the Conversion Rate shall be immediately readjusted, effective as of the date such rights, options or warrants expire, or the date the Company’s Board of Directors determines not to
issue such rights, options or warrants, to the Conversion Rate that would have been in effect if the unexercised rights, options or warrants had never been granted or such determination date had not been fixed, as the case may be and as a result no
additional shares are delivered or issued pursuant to such rights or warrants. For the purposes of this clause (2), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall
include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. The Company will not issue any rights, options or warrants in respect of shares of Common Stock held in the treasury of the Company.

 (3) Stock Splits and Combinations. (i) In case outstanding shares of Common Stock shall be subdivided or split
into a greater number of shares of Common Stock, then the Conversion Rate in effect at the opening of business on the day following the day upon which such subdivision or split becomes effective shall be proportionately increased; (ii) in case
outstanding shares of Common Stock shall be combined or reclassified into a smaller number of shares of Common Stock, then the Conversion Rate in effect at the opening of business on the day following the day upon which such combination or
reclassification becomes effective shall be proportionately reduced and (iii) in case the Company issues any shares of its Capital Stock in a reclassification of the outstanding shares of Common Stock, then the Conversion Rate in effect at the
opening of business on the day following the day upon which such reclassification becomes effective shall be proportionately applied to the new class of shares of Capital Stock of the Company into which the Common Stock was reclassified; in each
case, such increase, reduction or reclassification, as the case may be, to become effective immediately after the opening of business on the Business Day following the day upon which such subdivision, combination or reclassification becomes
effective. 
 (4) Distribution of Indebtedness, Securities or Assets. In case the Company shall, by dividend or
otherwise, distribute to all or substantially all holders of its Common Stock evidences of its indebtedness, securities, assets or certain rights to purchase the Company’s securities (provided, that if these rights are only exercisable
upon the occurrence of specified triggering events, then the Conversion Rate will not be adjusted until the triggering events occur), but excluding (i) any dividends or distributions referred to in clause (1) of this Section 13.05(a),
(ii) any rights or warrants referred to in clause (2) of this Section 13.05(a), (iii) any dividends or distributions paid exclusively in cash described in clause (5) of this Section 13.05(a) (the “Distributed
Assets”), then the Conversion Rate shall be adjusted so that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the close of 

  

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business on the record date fixed for the determination of stockholders entitled to receive such distribution by a fraction: 
 (A) the numerator of which shall be the Current Market Price per share of Common Stock; and 
 (B) the denominator of which shall be the such Current Market Price per share of Common Stock on the date fixed for such determination
less the Fair Market Value, as determined by the Company’s Board of Directors, whose determination in good faith shall be conclusive and described in a Board Resolution filed with the Trustee, of the portion of those Distributed Assets
applicable to one share of Common Stock, such adjustment to become effective immediately after the record date fixed for the determination of stockholders entitled to receive such distribution. 
 If after any such date fixed for determination, any such distribution is not in fact made, the Conversion Rate shall be immediately readjusted, effective
as of the date of the Company’s Board of Directors determines not to make such distribution, to the Conversion Rate that would have been in effect if such determination date had not been fixed. 
 Notwithstanding the foregoing, in cases where (i) the Fair Market Value per share of the Distributed Assets equals or exceeds the
Current Market Price of the Common Stock, or (ii) the Current Market Price of the Common Stock exceeds the Fair Market Value per share of the Distributed Assets by less than $1.00, in lieu of the adjustment set forth in this
Section 13.05(a)(4), Holders will have the right to receive upon conversion, in addition to shares of Common Stock, if any, the amount and type of Distributed Assets such Holders would have received upon conversion of such Holders’
Debentures if they had been converted immediately prior to the record date. 
 (5) Cash Distributions. In case the
Company shall, by dividend or otherwise, distribute to all or substantially all holders of outstanding shares of Common Stock distributions consisting exclusively of cash, then the Conversion Rate shall be adjusted so that the same shall equal the
rate determined by multiplying the Conversion Rate in effect immediately prior to the close of business on the date fixed for determination of the stockholders entitled to receive such distribution by a fraction: 
 (A) the numerator of which shall be equal to the Current Market Price per share of Common Stock on the date fixed for such determination;
and 
 (B) the denominator of which shall be equal to the Current Market Price per share of Common Stock on such date fixed
for determination less the amount per share of such distribution, such adjustment to become effective immediately after the record date fixed for the determination of stockholders entitled to receive such distribution. 
 Notwithstanding the foregoing, in cases where (i) the per share amount of such distribution equals or exceeds the Current Market
Price of the Common Stock, or (ii) the Current Market Price of the Common Stock exceeds the per share amount of such distribution by less than $1.00, in lieu of the adjustment set forth in this Section 13.05(a)(5), Holders will have the
right to receive upon conversion, in addition to shares of Common Stock, if any, such distribution such Holders would have received upon conversion of such Holders’ Debentures if they had been converted immediately prior to the record date.

  

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 (6) Tender or Exchange Offers. In case the Company or any Subsidiary shall make a
payment in respect of a tender offer or exchange offer for any portion of the Common Stock, in which event, to the extent the cash and value of any other consideration included in the payment per share of Common Stock exceeds the Closing Sale Price
of the Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender offer or exchange offer (the “Expiration Date”), as the case may be, then the Conversion
Rate shall be adjusted so that the same shall equal the rate determined by multiplying the Conversion Rate immediately prior to close of business on the Expiration Date by a fraction: 
 (A) the numerator of which shall be equal to the sum of (a) the Fair Market Value, as determined by the Board of Directors of the
Company, of the aggregate consideration payable for all shares of Common Stock purchased by the Company in the tender or exchange offer and (b) the product of (i) the number of shares of Common Stock outstanding less any such purchased
shares and (ii) the Closing Sale Price of the Common Stock on the Trading Day next succeeding the Expiration Date; and 
 (B) the denominator of which shall be equal to the product of (a) the number of shares of Common Stock outstanding, including any such purchased shares and (b) the Closing Sale Price of the Common Stock on the Trading Day next
succeeding the Expiration Date, such adjustment to become effective immediately after the opening of business on the second Trading Day next succeeding the Expiration Date. 
 (b) No Adjustment. No adjustment in the Conversion Rate shall be required: 
 (1) 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 Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 
 (2) upon the issuance of any shares of Common Stock or options or rights to purchase such shares pursuant to any present or future employee, director or consultant benefit plan or program of, or assumed by, the
Company or any of its Subsidiaries; 
 (3) upon the issuance of any shares of Common Stock pursuant to any option, warrant,
right or exercisable, exchangeable or convertible security not described in clause (2) of this Section 13.05(b) and outstanding as of the date the Debentures were first issued; 
 (4) for a change in the par value of the Common Stock; or 
 (5) for accrued and unpaid interest, if any. 
 (c) Increase in Conversion Rate due to Taxes. The Company may make such increases in the Conversion Rate, for the remaining term of the Debentures or any shorter term, in addition to those required by clause
(a) of this Section 13.05, as the Board of Directors of the Company considers to be advisable in order to avoid or diminish any income tax to any holders of shares of Common Stock or rights to purchase Common Stock resulting from any
dividend or distribution of stock or issuance of rights or warrants to purchase or subscribe for stock or from any event treated as such for income tax purposes. The Company shall have the power to resolve any ambiguity or correct any error in this
clause (d) and its actions in so doing shall, absent manifest error, be final and conclusive. 
 (d) Temporary Increase in Conversion
Rate. To the extent permitted by applicable law, the Company from time to time may increase the Conversion Rate by any amount for any period of time if 

  

 66 

 
the period is at least twenty (20) days, the increase is irrevocable during such period, and the Company’s Board of Directors shall have made a
determination that such increase would be in the best interests of the Company, which determination shall be conclusive; provided, however, that no such increase shall be taken into account for purposes of determining whether the closing
price of the Common Stock equals or exceeds 105% of the Conversion Price in connection with an event which would otherwise be a Fundamental Change. Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall give
notice of the increase to the Holders in the manner provided in Section 12.02, with a copy to the Trustee and Conversion Agent, at least fifteen (15) days prior to the date the increased Conversion Rate takes effect, and such notice shall
state the increased Conversion Rate and the period during which it will be in effect. 
 (e) Fundamental Change Make-Whole Adjustment.
In case of a transaction described in clause (3) of the definition of Fundamental Change, solely upon receipt by the Conversion Agent of any Holder’s Conversion Notice on or subsequent to the Effective Date of such Fundamental Change and
prior to the 45th day following such Effective Date (or, if earlier and to the extent applicable, the close of
business on the second Business Day immediately preceding the Fundamental Change Repurchase Date (as specified in the Fundamental Change Repurchase Right Notice)), the Company shall increase the Conversion Rate for the Debentures surrendered for
conversion by such Holder by the number of Additional Shares determined in accordance with this Section 13.05(e). 
 The following table
sets forth the increase in the Conversion Rate, expressed as a number of Additional Shares issuable per $1,000 initial principal amount of Debentures as a result of a transaction described in clause (3) of the definition Fundamental Change that
occurs in the corresponding period: 
  

																																																	
	 Effective
Date
	 	Stock Price
		 	$	13.28	 	$	14.61	 	$	15.94	 	$	16.60	 	$	17.26	 	$	18.59	 	$	19.92	 	$	21.25	 	$	22.58	 	$	23.90	 	$	25.23	 	$	26.56	 	$	33.20	 	$	39.84	 	$	46.48	 	$	53.12
																	
	 5/9/06
	 	 	15.529	 	 	12.834	 	 	10.696	 	 	9.782	 	 	8.962	 	 	7.535	 	 	6.356	 	 	5.357	 	 	4.518	 	 	3.795	 	 	3.171	 	 	2.635	 	 	1.851	 	 	0.799	 	 	0.168	 	 	0.000
	 5/9/07
	 	 	15.400	 	 	12.931	 	 	10.700	 	 	9.756	 	 	8.904	 	 	7.438	 	 	6.225	 	 	5.212	 	 	4.356	 	 	3.629	 	 	3.005	 	 	2.466	 	 	1.704	 	 	0.684	 	 	0.082	 	 	0.000
	 5/9/08
	 	 	15.270	 	 	12.937	 	 	10.605	 	 	9.623	 	 	8.741	 	 	7.229	 	 	5.988	 	 	4.959	 	 	4.095	 	 	3.366	 	 	2.744	 	 	2.211	 	 	1.493	 	 	0.525	 	 	0.000	 	 	0.000
	 5/9/09
	 	 	15.190	 	 	12.778	 	 	10.331	 	 	9.308	 	 	8.393	 	 	6.837	 	 	5.573	 	 	4.533	 	 	3.671	 	 	2.950	 	 	2.339	 	 	1.822	 	 	1.190	 	 	0.307	 	 	0.000	 	 	0.000
	 5/9/10
	 	 	15.101	 	 	12.382	 	 	9.799	 	 	8.729	 	 	7.781	 	 	6.184	 	 	4.905	 	 	3.869	 	 	3.023	 	 	2.325	 	 	1.746	 	 	1.261	 	 	0.784	 	 	0.031	 	 	0.000	 	 	0.000
	 5/9/11
	 	 	15.060	 	 	11.550	 	 	8.797	 	 	7.677	 	 	6.694	 	 	5.069	 	 	3.802	 	 	2.803	 	 	2.009	 	 	1.371	 	 	0.857	 	 	0.437	 	 	0.247	 	 	0.000	 	 	0.000	 	 	0.000
	 5/9/12
	 	 	15.060	 	 	9.867	 	 	6.853	 	 	5.667	 	 	4.655	 	 	3.049	 	 	1.875	 	 	1.006	 	 	0.369	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000
	 5/9/13
	 	 	15.060	 	 	8.215	 	 	2.510	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000	 	 	0.000

 The Stock Prices and Additional Share amounts set forth above are based upon a Closing Sale Price of $13.28 on
May 9, 2006 and an initial Conversion Price of $16.60. The Stock Prices set forth in the first row of the table above shall be adjusted as of any date on which the Conversion Rate of the Debentures is adjusted in accordance with
Section 13.05 hereof. 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 the 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 shall be adjusted in the same manner and for the same events as the Conversion Rate as set forth in
Section 13.05 hereof. 
 The exact Stock Price and Conversion Dates may not be set forth on the table; in which case, if the Stock Price
is: 
 (A) between two Stock Price amounts on the table or the Conversion Date is between two dates on the table, the number
of Additional Shares will be determined by straight-line interpolation between the number of Additional Shares set forth for the 

  

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higher and lower stock price amounts and the two dates, as applicable, based on a 365-day year; 
 (B) more than $53.12 per share (subject to adjustment), no Additional Shares will be issued upon conversion; and 
 (C) less than $13.28 per share (subject to adjustment), no Additional Shares will be issued upon conversion. 
 Notwithstanding the foregoing, in no event shall the total number of shares of Common Stock issuable upon conversion of a Debenture exceed
75.770 per $1,000 initial principal amount of the Debentures, after giving effect to the make whole adjustment and any related increase in the Conversion Rate pursuant to this Section 13.05(e), subject to anti-dilution adjustments set
forth in Section 13.05(a) hereof. 
 The Company shall give notice (an “Effective Date Notice”) to all Holders and to
the Trustee at least ten days prior to the anticipated effective date of any transaction described in clause (3) of the definition of a Fundamental Change, as limited by the paragraph following the definition of a Fundamental Change.

 Holders converting Debentures in connection with the Designated Event that is the subject of an Effective Date Notice will not receive
payment on the Debentures they surrender for conversion in connection with such Designated Event until the applicable Stock Price has been determined. If Holders convert their Debentures following the effective date of such Designated Event, then
the Holders’ rights to convert Debentures into shares of Common Stock will be changed into the right to convert Debentures into the kind and amount of such cash, securities or other property that the Holder would have received if the Holder had
converted its Debentures immediately prior to such Designated Event. 
 Notwithstanding delivery of the Effective Date Notice by us as
described above, no make whole premium will be payable if the related Designated Event does not occur. 
 (f) Public Acquirer Change of
Control. Notwithstanding anything in this Section 13.05, in the case of a Public Acquirer Change of Control, the Company may, in lieu of adjusting the Conversion Rate as described in Section 13.05(e) hereof, elect to adjust the
Conversion Rate and the related conversion obligation such that from and after the Effective Date of such Public Acquirer Change of Control, Holders of the Debentures will be entitled to convert their Debentures into a number of shares of Public
Acquirer Common Stock by adjusting the Conversion Rate in effect immediately before the Public Acquirer Change of Control by a fraction: 
 (A) the numerator of which will be the average of the Acquisition Value of the Common Stock for the ten consecutive Trading Days prior to but excluding the Effective Date of such Public Acquirer Change of Control, and

 (B) the denominator of which will be the average of the last reported sale prices of the Public Acquirer Common Stock for
the ten consecutive Trading Days prior to but excluding the Effective Date of such Public Acquirer Change of Control. 
 If the Company
elects to adjust the Conversion Rate and conversion obligation as described in this Section 13.05(f), the Company shall send a Designated Event Notice to the Holders of Debentures at least 10 Trading Days prior to the expected Effective Date of
the Fundamental Change that is also a Public Acquirer Change of Control, in accordance with Section 3.10 hereof. If the Company elects to 

  

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adjust the Conversion Rate and conversion obligation in connection with a Public Acquirer Change of Control, Holder of the Debentures shall not have the
right to receive Additional Shares pursuant to Section 13.05(e) or to require the Company to repurchase such Debentures in connection with the Fundamental Change that is also a Public Acquirer Change of Control. 
 Section 13.06 Notice of Adjustments of Conversion Rate.
 Whenever the Conversion Rate is adjusted pursuant to Section 13.05 hereof: 
 (a) The Company shall compute the adjusted
Conversion Rate in accordance with Section 13.05 hereof and shall prepare an Officer’s Certificate setting forth (1) the adjusted Conversion Rate, (2) the clause of Section 13.05 pursuant to which such adjustment has been
made, showing in reasonable detail the facts upon which such adjustment is based, (3) the calculation of such adjustment and (4) the date as of which such adjustment is effective, and such certificate shall promptly be filed with the
Trustee and with each Conversion Agent; and 
 (b) upon each such adjustment, a notice stating that the Conversion Rate has been adjusted and
setting forth the adjusted Conversion Rate shall be required, and as soon as practicable after it is required, such notice shall be provided by the Company to all Holders in accordance with Section 12.02. Moreover, upon any determination by the
Company, the Conversion Agent or the Trustee that Holders of the Debentures are or will be entitled to convert the Debentures in accordance with Section 13.01, the Company will issue a press release and publish the information on its website.

 Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such certificate or the
information and calculations contained therein, except to exhibit the same to any Holder of Debentures desiring inspection thereof at its office during normal business hours. 
 Section 13.07 Notice of Certain Corporate Action.
 In case the Company shall: 
 (a) distribute to all or substantially all holders of Common Stock certain rights or warrants entitling them to purchase, for a period expiring within 45
days of the declaration date for such distribution, Common Stock at less than the Current Market Price of the Common Stock; or 
 (b)
distribute to all or substantially all holders of Common Stock the Company’s assets, debt securities or certain rights or warrants to purchase the Company’s securities, which distribution has a per share value exceeding 10% of the Closing
Sale Price of the Common Stock on the day preceding the declaration date for such distribution; 
 then the Company shall deliver written notice to the
Conversion Agent, and shall deliver or cause its Agents to deliver, to all Holders in accordance with Section 12.02, at least 10 days prior to the ex-dividend date for such distribution, a notice of such distribution. At such time notice is
given pursuant to this Section 13.07, Holders of Debentures that are not otherwise convertible at that time may surrender their Debentures for conversion at any time until the earlier of (1) the close of business on the Business Day prior
to the ex-dividend date or (2) the Company’s announcement that such distribution will not take place. Holders of Debentures may not exercise this right of conversion if they participate in the distribution without conversion. 

At any time that the Trustee is not also the Conversion Agent, the Company shall forthwith deliver a copy of any notice required pursuant to this
Section 13.07 to the Trustee. 
  

 69 

 Section 13.08 Cancellation of Converted Debentures.
 All Definitive Debentures delivered for conversion shall be delivered to the Trustee or its agent to be canceled by or at the direction of the Trustee,
which shall dispose of the same as provided in Section 2.11. Upon conversions of beneficial interests in any Global Debenture, the Trustee or the Custodian, at the direction of the Trustee, shall reduce the aggregate principal amount of
outstanding Debentures represented by such Global Debenture to reflect the conversion pursuant to Section 2.01(b). 
 Section 13.09 Provision in Case
of Consolidation, Merger or Sale of Assets.
 Subject to the Section 13.05(f) hereof, in the case of any consolidation or merger of
the Company with or into any other Person, any merger of another Person with or into the Company (other than a merger that does not result in any reclassification, conversion, exchange or cancellation of outstanding shares of Common Stock of the
Company) or any conveyance, sale or transfer of all or substantially all of the assets of the Company, the Person formed by such consolidation or resulting from such merger or which acquires such assets, as the case may be, shall notify the Trustee
and the Holders at least ten days prior to the record date for such transaction, or if there is no record date, at least ten Trading Days prior to the anticipated effective date for such transaction. Following such effective date, the Holders shall
have the right thereafter to convert such Debenture only into the kind and amount of securities, cash and other property receivable upon such consolidation, merger, conveyance, sale or transfer by a holder of the number of shares of Common Stock of
the Company into which such Debenture might have been converted immediately prior to such consolidation, merger, conveyance, sale or transfer. In the event holders of Common Stock have the opportunity to elect the form of consideration to be
received in such transaction, then from and after the effective date of such transaction, the Debentures shall be convertible into the consideration that a majority of the holders of Common Stock who made such an election received in such
transaction. The Company will notify holders and the Trustee as promptly as practicable following the date we publicly announce such transaction but in no event less than 15 days prior to the anticipated effective date of such transaction. The above
provisions of this Section 13.09 shall similarly apply to successive consolidations, mergers, conveyances, sales, transfers or leases. Notice of the execution of such a supplemental indenture shall be given by the Company to the Holder of each
Debenture as provided in Section 12.02 promptly upon such execution. 
 Neither the Trustee nor any Conversion Agent shall be under any
responsibility to determine the correctness of any provisions contained in any such supplemental indenture relating either to the kind or amount of shares of stock or other securities or property or cash receivable by Holders of Debentures upon the
conversion of their Debentures after any such consolidation, merger, conveyance, transfer, sale or lease or to any such adjustment, but may accept as conclusive evidence of the correctness of any such provisions, and shall be protected in relying
upon, an Opinion of Counsel with respect thereto, which the Company shall cause to be furnished to the Trustee upon request. 
 Section 13.10 Rights
Issued in Respect of Common Stock.
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders
thereof to subscribe for or purchase shares of the Company’s Capital Stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”):

 (1) are deemed to be transferred with such shares of Common Stock; 
 (2) are not exercisable; and 
  

 70 

 (3) are also issued in respect of future issuances of Common Stock, 
 shall not be deemed distributed for purposes of Section 13.05(a)(2) or (4) until the occurrence of the earliest Trigger Event. In addition, in the event of any
distribution of rights or warrants, or any Trigger Event with respect thereto, that shall have resulted in an adjustment to the Conversion Rate under Section 13.05(a)(2) or (4), (A) in the case of any such rights or warrants that shall all
have been redeemed or repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a
cash distribution, equal to the per share redemption or repurchase price received by a holder of Common Stock with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of Common Stock as
of the date of such redemption or repurchase, and (B) in the case of any such rights or warrants all of which shall have expired without exercise by any holder thereof, the Conversion Price shall be readjusted as if such issuance had not
occurred. 
 Section 13.11 Responsibility of Trustee for Conversion Provisions.
 (a) The Trustee, subject to the provisions of Section 7.01, and any Conversion Agent, subject shall not at any time be under any duty or
responsibility to any Holder of Debentures to determine whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to the nature or extent of any such adjustment when made, or with respect to the method
employed, herein or in any supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. Neither the Trustee, subject to the provisions of Section 7.01, nor any Conversion Agent
shall be accountable with respect to the validity or value (or the kind or amount) of any Common Stock, or of any other securities or property or cash, which may at any time be issued or delivered upon the conversion of any Debenture; and it or they
do not make any representation with respect thereto. Neither the Trustee, subject to the provisions of Section 7.01, nor shall any Conversion Agent be responsible for any failure of the Company to make or calculate any cash payment or to issue,
transfer or deliver any shares of Common Stock or share certificates or other securities or property or cash upon the surrender of any Debenture for the purpose of conversion; and the Trustee, subject to the provisions of Section 7.01, and any
Conversion Agent shall not be responsible for any failure of the Company to comply with any of the covenants of the Company contained in this Article 13. 
 [Signatures on following page] 
  

 71 

 SIGNATURES 
 Dated as of May 16, 2006 
  

			
	 Broadwing Corporation

		
	 By:
	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title: SVP, Co-CEO and GC

	
	 Dorsal Networks, LLC
 United Cable
Holdings, LLC
 Corvis Operations, Inc.
 Corvis Equipment,
LLC
 Corvis Government Solutions, Inc.
 C III Communications,
LLC
 Broadwing Communications, LLC
 Broadwing Communications Real
Estate Services, LLC
 Broadwing Communications Canada, LLC
 Broadwing Communications Holdings, Inc.
 Broadwing Communications Corporation
 Broadwing Financial Services, Inc.

		
	 By:
	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title: VP and GC

	
	J.P. Morgan Trust Company, National Association
		
	 By:
	 	 /s/ Mary Jane Henson

		 	 Name: Mary Jane Henson

		 	 Title: Vice President

 EXHIBIT A-1 
 [Face of Debenture] 

 CUSIP/CINS ____________ 
 3.125% CONVERTIBLE SENIOR DEBENTURES DUE 2026 
  

			
	 No. ___
	  	$____________

 BROADWING CORPORATION 
 promises to pay to __________________________________________________________________________or registered assigns, the principal sum of ___________________________________________________________________
DOLLARS on May 16, 2026. 
 Interest Payment Dates: May 15 and November 15 
 Record Dates: May 1 and November 1 
 Dated: _______________, 20__ 
  

			
	 BROADWING CORPORATION

		
	 By:
	 	  
		 	 Name:

		 	 Title:

  

			
	This is one of the Debentures referred to in the within-mentioned Indenture:
	
	 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee

		
	 By:
	 	  
		 	Authorized Signatory

  

  

 A1-1 

 [Back of Debenture] 
 3.125% Convertible Senior Debentures due 2026 
 [Insert the Global Debenture Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. Broadwing Corporation, a Delaware corporation (the “Company”),
promises to pay interest on the principal amount of this Debenture at 3.125% per annum from ________________, 20__ until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 7 of the Registration Rights
Agreement referred to below. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on May 15 and November 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day
(each, an “Interest Payment Date”). Interest on the Debentures will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no
existing Default in the payment of interest, and if this Debenture is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any,
from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest and Liquidated Damages, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 (2) METHOD OF PAYMENT. The Company will pay interest on
the Debentures (except defaulted interest) and Liquidated Damages, if any, to the Persons who are registered Holders of Debentures at the close of business on the May 1 or November 1 next preceding the Interest Payment Date, even if such
Debentures are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Debentures will be payable as to principal, premium and
Liquidated Damages, if any, and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest and Liquidated Damages, if any, may
be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and
Liquidated Damages, if any, on, all Global Debentures and all other Debentures the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING
AGENT AND REGISTRAR. Initially, J.P. Morgan Trust Company, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. 

  

 A1-2 

 
The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

 (4) INDENTURE. The Company issued the Debentures under an Indenture dated as of
May 16, 2006 (the “Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Debentures include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Debentures
are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Debenture conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling. The Debentures are unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount of Debentures that may be issued thereunder. 
 (5) OPTIONAL REDEMPTION. The Company will not have the option to redeem the Debentures
prior to May 15, 2013. On or after May 15, 2013, the Company will have the option to redeem all or a part of the Debentures upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 100% of the principal
amount of the debentures being redeemed plus accrued and unpaid interest and Liquidated Damages, if any, on the Debentures redeemed up to, but excluding, the redemption date, unless the redemption date falls after a record date and on or prior to
the corresponding Interest Payment Date. In that case, the Company will pay the full amount of accrued and unpaid interest, including Liquidated Damages, if any, due on such Interest Payment Date to the Holder of record at the close of business on
the corresponding record date. Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Debentures or portions thereof called for redemption on the applicable redemption date. 
 (6) REPURCHASE AT OPTION OF THE
HOLDER. Debentures shall be purchased by the Company in cash pursuant to the terms of the Debentures at the option of the Holder on each of May 15, 2013, May 15, 2016, and May 15, 2021 (each a
“Repurchase Date”), at a purchase price of 100% of the principal amount, plus any accrued and unpaid interest and Liquidated Damages, if any, to, but excluding, the Repurchase Date; provided that if such Repurchase Date falls after a
record date and on or prior to the corresponding Interest Payment Date, then the interest and Liquidated Damages, if any, payable on such Interest Payment Date shall be paid to the Holders of record of the Debentures at the close of business on the
applicable record date instead of the Holders surrendering the Debentures for repurchase. At least 20 days prior any Repurchase Date, the Company will mail or cause to be mailed, by first class mail, a notice of such Repurchase Date to each Holder
at its registered address. 
 (7) REPURCHASE AT OPTION OF
HOLDER UPON A DESIGNATED EVENT. If there shall occur a Designated Event at any time prior to maturity of the Debentures, then each Holder shall have the right, at such
Holder’s option, to require the Company to repurchase all of such Holder’s Debentures, or any portion thereof that is a multiple of $1,000 principal amount, for cash on a date designated by the Company (the “Designated Event
Repurchase Date”) that is not less than twenty (20) nor more than thirty-five (30) Business Days after the date of the Designated Event Notice for such Designated Event (or, if such day is not a Business Day, the next succeeding
Business Day) at a repurchase price equal to 100% of the principal amount thereof, together with accrued and unpaid interest and Liquidated Damages, if any, to, but excluding, the Designated Event Repurchase Date; provided that if such Designated
Event Repurchase Date falls after a record date and on or prior to the corresponding Interest Payment Date, then the interest and Liquidated Damages, if any, payable on such Interest Payment Date shall be paid to the Holders of record of the
Debentures at the close of business on the 

  

 A1-3 

 
applicable record date instead of the Holders surrendering the Debentures for repurchase. Notwithstanding the foregoing, no Debentures may be surrendered for
repurchase pursuant to Section 3.10 of the Indenture in connection with a merger, consolidation or other transaction effected solely for the purpose of changing the Company’s jurisdiction of incorporation to any other state within the
United States. 
 (8) CONVERSION. Subject to and upon compliance with the provisions of the Indenture,
at the option of the Holder thereof, any portion of the principal amount of any Debenture that is an integral multiple of $1,000 may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as
hereinafter provided, in effect at the time of conversion. The Holders of the Debentures may surrender Debentures for conversion at the applicable Conversion Rate at any time prior to the close of business on the Business Day immediately preceding
the final maturity date of the Debentures. Debentures converted into shares of Common Stock shall initially will be converted at a Conversion Price of $16.60 per share. The rate at which shares of Common Stock shall be delivered upon conversion
(herein called the “Conversion Rate”) shall be initially 60.241 shares of Common Stock for each U.S. $1,000 principal amount of Debentures. The Conversion Rate will be adjusted under the circumstances provided in the Indenture. All
calculations under this Paragraph shall be made to the nearest cent or to the nearest one-hundredth of a share, as the case may be. 
 (9) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder whose Debentures are to be
redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Debentures or a satisfaction or discharge of the Indenture.
Debentures in denominations larger than $1,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Debentures held by a Holder are to be redeemed. 
 (10) DENOMINATIONS, TRANSFER, EXCHANGE. The Debentures are in
registered form without coupons in denominations of $1,000 and integral multiples of $1,000. The transfer of Debentures may be registered and Debentures may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the
transfer of any Debenture or portion of a Debenture selected for redemption, except for the unredeemed portion of any Debenture being redeemed in part. Also, the Company need not exchange or register the transfer of any Debentures for a period of 15
days before a selection of Debentures to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
 (11) PERSONS DEEMED OWNERS. The registered Holder of a Debenture may be treated as its owner for all purposes. 
 (12) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to
certain exceptions, the Indenture or the Debentures or the Debenture Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Debentures including
Additional Debentures, if any, voting as a single class, and any existing Default or Event or Default or compliance with any provision of the Indenture or the Debentures or the Debenture Guarantees may be waived with the consent of the Holders of a
majority in aggregate principal amount of the then outstanding Debentures including 

  

 A1-4 

 
Additional Debentures, if any, voting as a single class. Without the consent of any Holder of a Debenture, the Indenture or the Debentures or the Debenture
Guarantees may be amended or supplemented to cure any ambiguity, defect or inconsistency, to provide for uncertificated Debentures in addition to or in place of certificated Debentures, to provide for the assumption of the Company’s or a
Guarantor’s obligations to Holders of the Debentures and Debenture Guarantees in case of a merger or consolidation, to make any change that would provide any additional rights or benefits to the Holders of the Debentures or that does not
adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA, to conform the text of the Indenture or the
Debentures to any provision of the “Description of Debentures” section of the Company’s Offering Memorandum dated May 9, 2006, relating to the initial offering of the Debentures, to the extent that such provision in that
“Description of Debentures” was intended to be a verbatim recitation of a provision of the Indenture, the Debenture Guarantees or the Debentures; to provide for the issuance of Additional Debentures in accordance with the limitations set
forth in the Indenture, or to allow any Guarantor to execute a supplemental indenture to the Indenture and/or a Debenture Guarantee with respect to the Debentures. 
 (13) DEFAULTS AND REMEDIES. Events of Default include: (i) default
for 30 days in the payment when due of interest on, or Liquidated Damages, if any, with respect to, the Debentures; (ii) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on,
the Debentures; (iii) default in the Company’s obligation to deliver shares of the Company’s Common Stock, cash or other property upon conversion of the Debentures as required under this Indenture and such default continues for a
period of five (5) days; (iv) failure to pay the make whole premium, if any, when due upon conversion of the Debentures, and such default continues for a period of ten (10) days; (v) failure to provide notice of a specified
corporate transaction or the occurrence of a Designated Event on a timely basis; (vi) failure by the Company or any of the Guarantors for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal
amount of the Debentures then outstanding voting as a single class to comply with any of the other agreements in the Indenture; (vii) default under any mortgage, indenture or instrument under which there may be issued or by which there may be
secured or evidenced any Indebtedness for money borrowed by the Company or any of its Subsidiaries (or the payment of which is guaranteed by the Company or any of its Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created
after the date of the Indenture, if that default (a) is caused by a failure to pay principal of, or interest or premium, if any, on, such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such
default (a “Payment Default”); or (b) results in the acceleration of such Indebtedness prior to its express maturity, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any
other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $15.0 million or more; (viii) failure by the Company or any of the Guarantors to pay final judgments entered by a
court or courts of competent jurisdiction aggregating in excess of $15.0 million, which judgments are not paid, discharged or stayed for a period of 60 days; (ix) except as permitted by the Indenture, any Debenture Guarantee is held in any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms its obligations under its Debenture Guarantee; and
(x) certain events of bankruptcy or insolvency described in this Indenture with respect to the Company or any of its Subsidiaries that is a Significant Subsidiary or any group of Subsidiaries that, taken together, would constitute a Significant
Subsidiary. 
  

 A1-5 

 (14) TRUSTEE DEALINGS WITH
COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its
Affiliates, as if it were not the Trustee. 
 (15) NO RECOURSE AGAINST
OTHERS. A director, officer, employee, incorporator or stockholder of the Company or any of the Guarantors, as such, will not have any liability for any obligations of the Company or the Guarantors under the
Debentures, the Debenture Guarantees or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Debenture waives and releases all such liability. The waiver and release
are part of the consideration for the issuance of the Debentures. 
 (16) AUTHENTICATION.
This Debenture will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (17) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with
right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (18)
ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL DEBENTURES AND RESTRICTED
DEFINITIVE DEBENTURES. In addition to the rights provided to Holders of Debentures under the Indenture, Holders of Restricted Global Debentures and Restricted Definitive Debentures will have all the
rights set forth in the Registration Rights Agreement dated as of May 16, 2006, among the Company, the Guarantors and the other parties named on the signature pages thereof or, in the case of Additional Debentures, Holders of Restricted Global
Debentures and Restricted Definitive Debentures will have the rights set forth in one or more registration rights agreements, if any, among the Company, the Guarantors and the other parties thereto, relating to rights given by the Company and the
Guarantors to the purchasers of any Additional Debentures (collectively, the “Registration Rights Agreement”). 
 (19) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Debentures, and the
Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Debentures or as contained in any notice of redemption, and reliance may be
placed only on the other identification numbers placed thereon. 
 (20) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF
NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS DEBENTURE AND THE DEBENTURE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD
BE REQUIRED THEREBY. 
  

 A1-6 

 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture
and/or the Registration Rights Agreement. Requests may be made to: 
 Broadwing Corporation 
 1122 Capital of Texas Highway, South 
 Austin, TX 78746 
 Attention: General Counsel 
  

 A1-7 

 ASSIGNMENT FORM 
 To assign this Debenture, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Debenture to:	  	  
		  	(Insert assignee’s legal name)
		
	  	  	  
	(Insert assignee’s soc. sec. or tax I.D. no.)
		
	  	  	  
		
	  	  	  
		
	  	  	  
		
	  	  	  

 (Print or type assignee’s name, address and zip code) 
 and irrevocably appoint ________________________________________________________________________________________ to transfer this Debenture on the books of the Company.
The agent may substitute another to act for him. 
 Date: _______________ 
  

			
		
	Your Signature:	 	  
		 	(Sign exactly as your name appears on the face of this Debenture)

 Signature Guarantee*: _________________________ 
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 A1-8 

 OPTION OF HOLDER TO ELECT
PURCHASE 
 If you want to elect to have this Debenture purchased by the Company pursuant to Section 3.08 or 3.10 of the
Indenture, check the appropriate box below: 
  ̈  Section 3.08                               ̈  Section 3.10 
 If you want to elect
to have only part of the Debenture purchased by the Company pursuant to Section 3.08 or Section 3.10 of the Indenture, state the amount you elect to have purchased: 
 $_______________ 
 Date: _______________ 
  

			
		
	Your Signature:	 	  
		 	(Sign exactly as your name appears on the face of this Debenture)
	  
 Tax Identification No.: ________________________

 Signature Guarantee*: _________________________ 
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 A1-9 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL DEBENTURE 
 The following exchanges of a
part of this Global Debenture for an interest in another Global Debenture or for a Definitive Debenture, or exchanges of a part of another Global Debenture or Definitive Debenture for an interest in this Global Debenture, have been made: 

 

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount of
this Global
Debenture
	 	 Amount of increase in
Principal Amount of
this Global
Debenture
	 	 Principal Amount of
this Global Debenture
following
such
decrease (or increase)
	 	 Signature of authorized
officer of Trustee
or
Custodian

		 		 		 		 	

  

 A1-10 

 EXHIBIT A-1 
 Face of Regulation S Temporary Global Debenture 

 CUSIP/CINS
____________ 
 3.125% CONVERTIBLE SENIOR DEBENTURES DUE 2026 

 

			
	 No. ___
	  	$____________

 BROADWING CORPORATION 
  

	promises	to pay to __________________________________________________________________________or registered assigns, 

 the principal sum of __________________________________________________________ DOLLARS on May 16, 2026. 
 Interest Payment Dates: May 15 and November 15 
 Record Dates:
May 1 and November 1 
 Dated: _______________, 200_ 
  

			
	 BROADWING CORPORATION

		
	 By:
	 	  
		 	 Name:

		 	 Title:

  

			
	This is one of the Debentures referred to in the within-mentioned Indenture:

			
	
	 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee

			
		
	 By:
	 	  
		 	Authorized Signatory

  

  

 A2-1 

 Back of Regulation S Temporary Global Debenture 
 3.125% Convertible Senior Debentures due 2026 
 THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY
GLOBAL DEBENTURE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED DEBENTURES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL
DEBENTURES SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON. 
 THIS GLOBAL DEBENTURE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS DEBENTURE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL DEBENTURE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL DEBENTURE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
2.11 OF THE INDENTURE AND (4) THIS GLOBAL DEBENTURE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR DEBENTURES IN DEFINITIVE FORM, THIS DEBENTURE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“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 SUCH OTHER
NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE 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. 
 THE SECURITY (OR ITS
PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT
BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE
PROVISIONS OF SECTION 5 OF THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1) (a) IN THE UNITED STATES
TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) OUTSIDE THE 

  

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UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (c) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144
UNDER THE SECURITIES ACT, (d) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT (AN “INSTITUTIONAL ACCREDITED INVESTOR”) THAT, PRIOR TO SUCH TRANSFER,
FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF DEBENTURES OR SHARES OF COMMON STOCK
ISSUABLE UPON CONVERSION OF THE DEBENTURES LESS THAN $250,000, AN OPINION OF COUNSEL ACCEPTABLE TO BROADWING CORPORATION THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT OR (e) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER OF THE SECURITY SO REQUESTS), (2) TO THE ISSUER OF THE SECURITY OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE,
IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED
HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN (A) ABOVE. 
 Capitalized terms used herein have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. Broadwing
Corporation, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Debenture at 3.125% per annum from ______________, 20__ until maturity and shall pay the Liquidated Damages, if any,
payable pursuant to Section 7 of the Registration Rights Agreement referred to below. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on May 15 and November 15 of each year, or if any such day is
not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Debentures will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the
date of issuance; provided that if there is no existing Default in the payment of interest, and if this Debenture is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest
shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be ______________ , 20__ . The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on
the basis of a 360-day year of twelve 30-day months. 
 Until this Regulation S Temporary Global Debenture is exchanged for one or more
Regulation S Permanent Global Debentures, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Debenture shall in all other respects be entitled to the same
benefits as other Debentures under the Indenture. 
  

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 (2) METHOD OF PAYMENT.
The Company will pay interest on the Debentures (except defaulted interest) and Liquidated Damages, if any, to the Persons who are registered Holders of Debentures at the close of business on the May 1 or November 1 next preceding the
Interest Payment Date, even if such Debentures are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Debentures will be
payable as to principal, premium and Liquidated Damages, if any, and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest
and Liquidated Damages, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to
principal of and interest, premium and Liquidated Damages, if any, on, all Global Debentures and all other Debentures the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND REGISTRAR. Initially, J.P. Morgan Trust Company, National Association, the Trustee under the Indenture, will act as Paying Agent and
Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 
 (4) INDENTURE. The Company issued the Debentures under an Indenture dated as of May 16, 2006
(the “Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Debentures include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Debentures are subject to all
such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Debenture conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and
be controlling. The Debentures are unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount of Debentures that may be issued thereunder. 
 (5) OPTIONAL REDEMPTION. The Company will not have the option to redeem the Debentures
prior to May 15, 2013. On or after May 15, 2013, the Company will have the option to redeem all or a part of the Debentures upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 100% of the principal
amount of the debentures being redeemed plus accrued and unpaid interest and Liquidated Damages, if any, on the Debentures redeemed up to, but excluding, the redemption date, unless the redemption date falls after a record date and on or prior to
the corresponding Interest Payment Date. In that case, the Company will pay the full amount of accrued and unpaid interest, including Liquidated Damages, if any, due on such Interest Payment Date to the holder of record at the close of business on
the corresponding record date. Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Debentures or portions thereof called for redemption on the applicable redemption date. 
 (6) REPURCHASE AT OPTION OF THE HOLDER.
Debentures shall be purchased by the Company in cash pursuant to the terms of the Debentures at the option of the holder on each of May 15, 2013, May 15, 2016, and May 15, 2021 (each a “Repurchase Date”), at
a purchase price of 100% of the principal amount, plus any accrued and unpaid Interest and Liquidated Damages, if any, to, but excluding, the Repurchase Date; provided that if such Repurchase Date falls after a record date and on or prior to the
corresponding Interest Payment Date, then the Interest and Liquidated Damages, if any, payable on such Interest Payment Date shall be 

  

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paid to the holders of record of the Debentures at the close of business on the applicable record date instead of the holders surrendering the Debentures for
repurchase. At least 20 days prior any Repurchase Date, the Company will mail or cause to be mailed, by first class mail, a notice of such Repurchase Date to each Holder at its registered address. 
 (7) REPURCHASE AT OPTION OF HOLDER UPON
A DESIGNATED EVENT. If there shall occur a Designated Event at any time prior to maturity of the Debentures, then each Holder shall have the right, at such holder’s option, to
require the Company to repurchase all of such holder’s Debentures, or any portion thereof that is a multiple of $1,000 principal amount, for cash on a date designated by the Company (the “Designated Event Repurchase Date”) that
is not less than twenty (20) nor more than thirty-five (30) Business Days after the date of the Designated Event Notice for such Designated Event (or, if such day is not a Business Day, the next succeeding Business Day) at a repurchase
price equal to 100% of the principal amount thereof, together with accrued and unpaid Interest and Liquidated Damages, if any, to, but excluding, the Designated Event Repurchase Date; provided that if such Designated Event Repurchase Date falls
after a record date and on or prior to the corresponding Interest Payment Date, then the Interest and Liquidated Damages, if any, payable on such Interest Payment Date shall be paid to the holders of record of the Debentures at the close of business
on the applicable record date instead of the holders surrendering the Debentures for repurchase. Notwithstanding the foregoing, no Debentures may be surrendered for repurchase pursuant to Section 3.10 of the Indenture in connection with a
merger, consolidation or other transaction effected solely for the purpose of changing the Company’s jurisdiction of incorporation to any other state within the United States. 
 (8) CONVERSION. Subject to and upon compliance with the provisions of the Indenture, at the option of
the Holder thereof, any portion of the principal amount of any Debenture that is an integral multiple of $1,000 may be converted into fully paid and non-assessable shares of Common Stock at the Conversion Rate, determined as hereinafter provided, in
effect at the time of conversion. The Holders of the Debentures may surrender Debentures for conversion at the applicable Conversion Rate at any time prior to the close of business on the business day immediately preceding the final maturity date of
the Debentures. Debentures converted into shares of Common Stock shall initially will be converted at a Conversion Price of $16.60 per share. The rate at which shares of Common Stock shall be delivered upon conversion (herein called the
“Conversion Rate”) shall be initially 60.241 shares of Common Stock for each U.S. $1,000 principal amount of Debentures. The Conversion Rate will be adjusted under the circumstances provided in the Indenture. All calculations under
this Article shall be made to the nearest cent or to the nearest one-hundredth of a share, as the case may be. 
 (9)
NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Debentures are to be redeemed at
its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Debentures or a satisfaction or discharge of the Indenture. Debentures
in denominations larger than $1,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Debentures held by a Holder are to be redeemed. 
 (10) DENOMINATIONS, TRANSFER, EXCHANGE. The Debentures are in
registered form without coupons in denominations of $1,000 and integral multiples of $1,000. The transfer of Debentures may be registered and Debentures may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a
Holder, among other things, to furnish 

  

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appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture.
The Company need not exchange or register the transfer of any Debenture or portion of a Debenture selected for redemption, except for the unredeemed portion of any Debenture being redeemed in part. Also, the Company need not exchange or register the
transfer of any Debentures for a period of 15 days before a selection of Debentures to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
 This Regulation S Temporary Global Debenture is exchangeable in whole or in part for one or more Global Debentures only (i) on or after the
termination of the 40-day distribution compliance period (as defined in Regulation S) and (ii) upon presentation of certificates (accompanied by an Opinion of Counsel, if applicable) required by Article 2 of the Indenture. Upon exchange of this
Regulation S Temporary Global Debenture for one or more Global Debentures, the Trustee shall cancel this Regulation S Temporary Global Debenture. 
 (11) PERSONS DEEMED OWNERS. The registered Holder of a Debenture may be treated as its owner for all purposes. 
 (12) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to
certain exceptions, the Indenture or the Debentures or the Debenture Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Debentures including
Additional Debentures, if any, voting as a single class, and any existing Default or Event of Default or compliance with any provision of the Indenture or the Debentures or the Debenture Guarantees may be waived with the consent of the Holders of a
majority in aggregate principal amount of the then outstanding Debentures including Additional Debentures, if any, voting as a single class. Without the consent of any Holder of a Debenture, the Indenture or the Debentures or the Debenture
Guarantees may be amended or supplemented to cure any ambiguity, defect or inconsistency, to provide for uncertificated Debentures in addition to or in place of certificated Debentures, to provide for the assumption of the Company’s or a
Guarantor’s obligations to Holders of the Debentures and Debenture Guarantees in case of a merger or consolidation, to make any change that would provide any additional rights or benefits to the Holders of the Debentures or that does not
adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA, to conform the text of the Indenture or the
Debentures to any provision of the “Description of Debentures” section of the Company’s Offering Memorandum dated May 9, 2006, relating to the initial offering of the Debentures, to the extent that such provision in that
“Description of Debentures” was intended to be a verbatim recitation of a provision of the Indenture, the Debenture Guarantees or the Debentures; to provide for the issuance of Additional Debentures in accordance with the limitations set
forth in the Indenture, or to allow any Guarantor to execute a supplemental indenture to the Indenture and/or a Debenture Guarantee with respect to the Debentures. 
 (13) DEFAULTS AND REMEDIES. Events of Default include: (i) default
for 30 days in the payment when due of interest on, or Liquidated Damages, if any, with respect to, the Debentures; (ii) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on,
the Debentures; (iii) default in the Company’s obligation to deliver shares of the Company’s common stock, cash or other property upon conversion of the Debentures as required under this Indenture and such default continues for a
period of five (5) days; (iv) failure to pay the make whole premium, if any, when due upon conversion of the Debentures, and such default continues for a period of ten (10) days; 

  

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(v) failure to provide notice of a specified corporate transaction or the occurrence of a designated event on a timely basis; (vi) failure by the
Company or any of the Guarantors for 60 days after notice to the Company by the trustee or the holders of at least 25% in aggregate principal amount of the Debentures then outstanding voting as a single class to comply with any of the other
agreements in the indenture; (vii) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Subsidiaries
(or the payment of which is guaranteed by the Company or any of its Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created after the date of the indenture, if that default (a) is caused by a failure to pay principal of,
or interest or premium, if any, on, such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or (b) results in the acceleration of such
Indebtedness prior to its express maturity, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has
been so accelerated, aggregates $15.0 million or more; (viii) failure by the Company or any of the Guarantors to pay final judgments entered by a court or courts of competent jurisdiction aggregating in excess of $15.0 million, which judgments
are not paid, discharged or stayed for a period of 60 days; (ix) except as permitted by this Indenture, any Debenture Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and
effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms its obligations under its Debenture Guarantee; and (x) certain events of bankruptcy or insolvency described in this Indenture with respect to the
Company or any of its Subsidiaries that is a Significant Subsidiary or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary. 
 (14) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
 (15) NO RECOURSE AGAINST OTHERS. A director, officer,
employee, incorporator or stockholder of the Company or any of the Guarantors, as such, will not have any liability for any obligations of the Company or the Guarantors under the Debentures, the Debenture Guarantees or the Indenture or for any claim
based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Debenture waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Debentures.

 (16) AUTHENTICATION. This Debenture will not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent. 
 (17) ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (18) ADDITIONAL RIGHTS
OF HOLDERS. In addition to the rights provided to Holders of Debentures under the Indenture, Holders of this Regulation S Temporary Global Debenture will have all the rights set forth in the
Registration Rights Agreement dated as of May 16, 2006, among the Company, the Guarantors and the other parties named on the 

  

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signature pages thereof or, in the case of Additional Debentures, Holders thereof will have the rights set forth in one or more registration rights
agreements, if any, among the Company, the Guarantors and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Debentures (collectively, the “Registration Rights
Agreement”). 
 (19) CUSIP NUMBERS. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Debentures, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made
as to the accuracy of such numbers either as printed on the Debentures or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 
 (20) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS DEBENTURE AND
THE DEBENTURE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Registration Rights Agreement. Requests
may be made to: 
 Broadwing Corporation 
 1122 Capital of Texas
Highway, South 
 Austin, TX 78746 
 Attention: General Counsel

  

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 ASSIGNMENT FORM 
 To assign this Debenture, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Debenture to:	  	  
		  	(Insert assignee’s legal name)
		
	  	  	  
	(Insert assignee’s soc. sec. or tax I.D. no.)
		
	  	  	  
		
	  	  	  
		
	  	  	  
		
	  	  	  

 (Print or type assignee’s name, address and zip code) 
 and irrevocably appoint ________________________________________________________________________________________ to transfer this Debenture on the books of the Company.
The agent may substitute another to act for him. 
 Date: _______________ 
  

			
		
	Your Signature: 	 	  
	(Sign exactly as your name appears on the face of this Debenture)

 Signature Guarantee*: _________________________ 
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

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 OPTION OF HOLDER TO ELECT
PURCHASE 
 If you want to elect to have this Debenture purchased by the Company pursuant to Section 3.08 or 3.10 of the
Indenture, check the appropriate box below: 
  ̈  Section 3.08             ̈Section 3.10

 If you want to elect to have only part of the Debenture purchased by the Company pursuant to Section 3.08 or Section 3.10 of the
Indenture, state the amount you elect to have purchased: 
 $_______________ 
 Date: _______________ 
  

			
		
	Your Signature: 	 	  
	(Sign exactly as your name appears on the face of this Debenture)
	
	Tax Identification No.: _________________________

 Signature Guarantee*: _________________________ 
  
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

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 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE REGULATION S TEMPORARY GLOBAL DEBENTURE 
 The following exchanges of a part of this Regulation S Temporary Global Debenture for an interest in another Global Debenture, or exchanges of a part of another other Restricted Global Debenture for an interest in
this Regulation S Temporary Global Debenture, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of
this Global Debenture	  	Amount of increase in
Principal Amount of
this Global Debenture	  	Principal Amount of
this Global Debenture
following such
decrease (or increase)	  	Signature of authorized
officer of Trustee or
Custodian
		  		  		  		  	

  

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 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Broadwing Corporation 
 1122 Capital of Texas Highway, 
 South Austin, TX 78746 
 J.P. Morgan Trust Company, National Association 
 600 Travis Street, Suite 1150 
 Houston, TX 77002 
 Attn: Corporate Trust Department 
  

	 	Re:	3.125% Convertible Senior Debentures due 2026 

 Reference is hereby made to the Indenture, dated as of May 16, 2006 (the “Indenture”), among Broadwing Corporation, as issuer (the “Company”), the Guarantors party thereto and J.P. Morgan Trust
Company, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 ___________________, (the “Transferor”) owns and proposes to transfer the Debenture[s] or interest in such Debenture[s] specified in Annex A hereto, in the principal amount of $___________ in such Debenture[s] or interests
(the “Transfer”), to ___________________________ (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 
 1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A Global Debenture or a Restricted Definitive Debenture pursuant to Rule
144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Debenture is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Debenture for its own account, or for one or more accounts with respect to which
such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Debenture will be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Debenture and/or the Restricted Definitive Debenture and in the Indenture and the Securities Act. 
 2.  ̈ Check if Transferee will take
delivery of a beneficial interest in the Regulation S Temporary Global Debenture, the Regulation S Permanent Global Debenture or a Restricted Definitive Debenture pursuant to Regulation S. The Transfer is being effected pursuant to and in
accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was
originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or
through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the 

  

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Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the
proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Debenture will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Permanent
Global Debenture, the Regulation S Temporary Global Debenture and/or the Restricted Definitive Debenture and in the Indenture and the Securities Act. 
 3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest in the IAI Global
Debenture or a Restricted Definitive Debenture pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial
interests in Restricted Global Debentures and Restricted Definitive Debentures and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor
hereby further certifies that (check one): 
 (a)  ̈ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
 or

 (b)  ̈ such
Transfer is being effected to the Company or a subsidiary thereof; 
 or 
 (c)  ̈ such Transfer is being
effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act; 
 or 
 (d)  ̈ such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and
the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a
Restricted Global Debenture or Restricted Definitive Debentures and the requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and
(2) if such Transfer is in respect of a principal amount of Debentures at the time of transfer of less than $250,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this
certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Debenture will be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Debenture and/or the Restricted Definitive Debentures and in the Indenture and the Securities Act. 
  

 B-2 

 4.  ̈ Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Debenture or of an Unrestricted Definitive Debenture. 
 (a)  ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and
in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Debenture will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Debentures, on Restricted Definitive Debentures and in the Indenture.

 (b)  ̈ Check if Transfer is
Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable
blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Debenture will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Global Debentures, on Restricted Definitive Debentures and in the Indenture. 
 (c)  ̈ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration
requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Definitive Debenture will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Debentures or Restricted Definitive Debentures and in the
Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

			
	  
	 [Insert Name of Transferor]

		
	By:	 	  
		 	 Name:

		 	 Title:

 Dated: _______________________ 
  

 B-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 
  

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Debenture (CUSIP _________), or 

  

	 	(ii)	 ̈ Regulation S Global Debenture (CUSIP _________), or

  

	 	(iii)	 ̈ IAI Global Debenture (CUSIP _________); or 

  

	 	(b)	 ̈ a Restricted Definitive Debenture. 

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE]

  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Debenture (CUSIP _________), or 

  

	 	(ii)	 ̈ Regulation S Global Debenture (CUSIP _________), or

  

	 	(iii)	 ̈ IAI Global Debenture (CUSIP _________); or 

  

	 	(iv)	 ̈ Unrestricted Global Debenture (CUSIP _________); or

  

	 	(b)	 ̈ a Restricted Definitive Debenture; or 

  

	 	(c)	 ̈ an Unrestricted Definitive Debenture, 

 in accordance with the terms of the Indenture. 
  

 B-4 

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Broadwing Corporation 
 1122 Capital of Texas Highway, South 
 Austin, TX 78746 
 J.P. Morgan Trust Company, National Association 
 600 Travis Street, Suite 1150 
 Houston, TX 77002 
 Attn: Corporate Trust Department 
 Re: 3.125% Convertible Senior Debentures due 2026 
 (CUSIP ____________) 
 Reference is hereby made to the Indenture, dated as of May 16, 2006 (the
“Indenture”), among Broadwing Corporation, as issuer (the “Company”), the Guarantors party thereto and J.P. Morgan Trust Company, National Association, as trustee. Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture. 
 __________________________, (the “Owner”) owns and proposes to exchange
the Debenture[s] or interest in such Debenture[s] specified herein, in the principal amount of $____________ in such Debenture[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

 1. Exchange of Restricted Definitive Debentures or Beneficial Interests in a Restricted Global Debenture for Unrestricted Definitive
Debentures or Beneficial Interests in an Unrestricted Global Debenture 
 (a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Debenture to beneficial interest in an Unrestricted Global Debenture. In connection with the Exchange of
the Owner’s beneficial interest in a Restricted Global Debenture for a beneficial interest in an Unrestricted Global Debenture in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Debentures and pursuant to and in accordance with the Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in
an Unrestricted Global Debenture is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Debenture to Unrestricted Definitive Debenture. In
connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Debenture for an Unrestricted Definitive Debenture, the Owner hereby certifies (i) the Definitive Debenture is being acquired for the Owner’s own
account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Debentures and pursuant to and in accordance with the Securities Act, (iii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Debenture is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States. 
  

 C-1 

 (c)  ̈ Check if Exchange is from Restricted Definitive Debenture to beneficial interest in an Unrestricted Global Debenture. In connection with the Owner’s Exchange of a Restricted Definitive Debenture for a beneficial interest in an
Unrestricted Global Debenture, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to Restricted Definitive Debentures and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)  ̈ Check if Exchange is from Restricted
Definitive Debenture to Unrestricted Definitive Debenture. In connection with the Owner’s Exchange of a Restricted Definitive Debenture for an Unrestricted Definitive Debenture, the Owner hereby certifies (i) the Unrestricted
Definitive Debenture is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Debentures and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted
Definitive Debenture is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 2.
Exchange of Restricted Definitive Debentures or Beneficial Interests in Restricted Global Debentures for Restricted Definitive Debentures or Beneficial Interests in Restricted Global Debentures 
 (a)  ̈ Check if Exchange is from beneficial
interest in a Restricted Global Debenture to Restricted Definitive Debenture. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Debenture for a Restricted Definitive Debenture with an equal principal
amount, the Owner hereby certifies that the Restricted Definitive Debenture is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted
Definitive Debenture issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Debenture and in the Indenture and the Securities Act. 
 (b)  ̈ Check if Exchange is from Restricted
Definitive Debenture to beneficial interest in a Restricted Global Debenture. In connection with the Exchange of the Owner’s Restricted Definitive Debenture for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Debenture,  ̈ Regulation S Global Debenture,  ̈ IAI Global Debenture with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own
account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Debentures and pursuant to and in accordance with the Securities Act, and in compliance with any
applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the relevant Restricted Global Debenture and in the Indenture and the Securities Act. 
  

 C-2 

 This certificate and the statements contained herein are made for your benefit and the benefit of the
Company. 
  

			
	  
	 [Insert Name of Transferor]

		
	By:	 	  
		 	 Name:

		 	 Title:

 Dated: ______________________ 
  

 C-3 

 EXHIBIT D 
 FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR 
 Broadwing Corporation 
 1122 Capital of Texas Highway, South 
 Austin, TX 78746 
 J.P. Morgan Trust Company, National Association

 600 Travis Street, Suite 1150 
 Houston, TX 77002 

Attn: Corporate Trust Department 
 Re: 3.125%
Convertible Senior Debentures due 2026 
 Reference is hereby made to the Indenture, dated as of May 16, 2006 (the
“Indenture”), among Broadwing Corporation, as issuer (the “Company”), the Guarantors and J.P. Morgan Trust Company, National Association, as Trustee. Capitalized terms used but not defined herein shall have the
meanings given to them in the Indenture. 
 In connection with our proposed purchase of $____________ aggregate principal amount of:

 (a)  ̈ a beneficial interest in a
Global Debenture, or 
 (b)  ̈ a
Definitive Debenture, 
 we confirm that: 
 1. We understand that any subsequent transfer of the Debentures or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not
to resell, pledge or otherwise transfer the Debentures or any interest therein except in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the Debentures have not been registered under the Securities Act, and that the Debentures and any interest
therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Debentures or any interest therein,
we will do so only (A) to the Company or any Subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional “accredited
investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to the Trustee and to the Company a signed letter substantially in the form of this letter and, if such transfer is in
respect of a principal amount of Debentures, at the time of transfer of less than $250,000, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities Act,
(D) outside the United States in accordance with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144(k) under the Securities Act or (F) pursuant to an effective registration statement under
the Securities Act, and we further agree to provide to any Person purchasing the Definitive Debenture or beneficial interest in a Global Debenture from the Company in a transaction meeting the requirements of clauses (A) through (E) of
this paragraph a notice advising such purchaser that resales thereof are restricted as stated herein. 
  

 D-1 

 3. We understand that, on any proposed resale of the Debentures or beneficial interest therein, we will
be required to furnish to the Trustee and the Company such certifications, legal opinions and other information as the Trustee and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We
further understand that the Debentures purchased by us will bear a legend to the foregoing effect. 
 4. We are an institutional
“accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and
risks of our investment in the Debentures, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 
 5. We are acquiring the Debentures or beneficial interest therein purchased by us for our own account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of which
we exercise sole investment discretion. 
 The Trustee and the Company are entitled to rely upon this letter and are irrevocably authorized
to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 
  

			
	  
	 [Insert Name of Accredited Investor]

		
	By:	 	  
		 	 Name:

		 	 Title:

 Dated: _______________________ 
  

 D-2 

 EXHIBIT E 
 FORM OF NOTATION OF GUARANTEE 
 For value received, each Guarantor (which term includes any successor Person
under the Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of May 16, 2006 (the “Indenture”) among Broadwing
Corporation, (the “Company”), the Guarantors and J.P. Morgan Trust Company, National Association, as trustee (the “Trustee”), (a) the due and punctual payment of the principal of, premium and Liquidated
Damages, if any, and interest on, the Debentures, whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue principal of and interest on the Debentures, if any, if lawful, and the due and
punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Debentures or any of such other
obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders of
Debentures and to the Trustee pursuant to the Debenture Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture and reference is hereby made to the Indenture for the precise terms of the Debenture Guarantee. 
 Capitalized terms used but not defined herein have the meanings given to them in the Indenture. 
  

			
	 [NAME OF GUARANTOR(S)]

		
	By:	 	  
		 	 Name:

		 	 Title:

  

 E-1 

 EXHIBIT F 
 FORM OF CONVERSION NOTICE 
 Broadwing Corporation 
 1122 Capital of Texas Highway, South 
 Austin, TX 78746 
 J.P. Morgan Trust Company 
 600 Travis Street, Suite 1150 
 Houston, TX 77002 
 Attn: Corporate Trust Department 
 Re: 3.125% Convertible Senior Debentures due 2026—CONVERSION NOTICE 
 (CUSIP ____________) 
 Reference is hereby made to the Indenture, dated as of
May 16, 2006 (the “Indenture”), among Broadwing Corporation, as issuer (the “Company”), the Guarantors party thereto and J.P. Morgan Trust Company, National Association, as trustee. Capitalized terms used but
not defined herein shall have the meanings given to them in the Indenture. 
 __________________________, (the “Owner”) owns
and proposes to convert the Debenture[s] or interest in such Debenture[s] specified herein, in the principal amount of $____________ in such Debenture[s] or interests (the “Conversion”) pursuant to Article 13 of the Indenture. In
connection with the Conversion, the Owner hereby certifies that, as Owner of this Debenture or beneficial interest in a Global Debenture, hereby irrevocably exercises the option to convert this Debenture or such beneficial interest, or such portion
of this Debenture in the principal amount designated above, into shares of Common Stock in accordance with the terms of the Indenture, and directs that such shares, together with a check in payment for any fractional share and any Debentures
representing any unconverted principal amount hereof, be delivered to and be registered in the name of the undersigned unless a different name has been indicated below. If shares of Common Stock or Debentures are to be registered in the name of a
Person other than the undersigned, (a) the undersigned will pay all transfer taxes payable with respect thereto and (b) signature(s) must be guaranteed by an Eligible Guarantor Institution with membership in an approved signature guarantee
program pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. Any amount required to be paid by the undersigned on account of interest accompanies this Debenture. 
  

	Dated:	______________ 

  

	
	
	   
	 Signature(s)

  

 F-1 

	
	If shares of Common Stock or Debentures are to be registered in the name of a Person other than the Holder*, please print such Person’s name and address:
	
	   
	 (Name)

	
	   
	
	   
	 (Address)

	
	   
	Social Security or other Identification Number, if any.
	
	   
	 [Signature Guaranteed]

 If only a portion of a Definitive Debenture is to be converted, please indicate: 
 1. Principal amount to be converted: U.S. $ ___________ 
 2. Principal amount
and denomination of Debentures representing unconverted principal amount to be issued: 
 Amount: U.S.
$___________                                      
   Denominations: U.S. $____________ 
 (U.S. $1,000 or any integral multiple of U.S. $1,000 in excess thereof, provided that the unconverted
portion of such principal amount is U.S. $1,000 or any integral multiple of U.S. $1,000 in excess thereof.) 
  

	*	If the Debenture(s) to be converted bear the Private Placement Legend, or if you are converting beneficial interests in a Restricted Global Debenture, then you must submit a
“Certificate of Conversion & Transfer” with this Conversion Notice. 

  

 F-2 

 ANNEX A TO CERTIFICATE OF CONVERSION 
  

	1.	The Converting Party owns and proposes to convert the following: 

 [CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 ̈ a beneficial interest in the 

  

	 	(i)	 ̈ 144A Global Debenture (CUSIP _________), or 

  

	 	(ii)	 ̈ Regulation S Global Debenture (Certificate No.: _________), or

  

	 	(iii)	 ̈ IAI Global Debenture (CUSIP _________); or 

  

	 	(d)	 ̈ an Restricted Definitive Debenture (Certificate No.: _________).

  

	2.	After the Conversion the Converting Party will hold: 

 [CHECK ONE] 
  

	 	(a)	 ̈ restricted shares of Common Stock in the form of:

  

	 	(i)	 ̈ a beneficial interest in a Restricted Global Share Certificate (CUSIP
_________), or 

  

	 	(ii)	 ̈ a definitive Share Certificate (Certificate Number _________); or

  

	 	(b)	 ̈ unrestricted shares of Common Stock in the form of:

  

	 	(i)	 ̈ a beneficial interest in an Unrestricted Global Share Certificate (CUSIP
_________), or 

  

	 	(ii)	 ̈ a definitive Share Certificate (Certificate Number _________),

 all in accordance with the terms of the Indenture. 
  

 F-3 

 EXHIBIT G 
 FORM OF CERTIFICATE CONVERSION & RESTRICTED TRANSFER 
 Broadwing Corporation

 1122 Capital of Texas Highway, South 
 Austin, TX 78746 
 J.P. Morgan Trust Company, National Association 
 600 Travis Street, Suite 1150 
 Houston, TX 77002 
 Attn: Corporate Trust Department 
 Re: 3.125% Convertible Senior Debentures due 2026 
 Reference is hereby made to the Indenture, dated as of May 16, 2006 (the “Indenture”), among Broadwing Corporation, as issuer (the
“Company”), the Guarantors and J.P. Morgan Trust Company, National Association, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 ___________________, (the “Transferor”) owns, and proposes to exercise its right of conversion pursuant to Article 13 of the Indenture
with respect to, the Debenture[s] or interest in such Debenture[s] specified in Annex A hereto, in the principal amount of $___________ in such Debenture[s] or interests, and to request that the shares of Common Stock issuable upon such conversion
(the “Shares”) be registered in the name of or issued to ___________________________ (the “Transferee”), as further specified in Annex A hereto (such transaction, the “Conversion &
Transfer”). In connection with the Conversion & Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY]

 1.  ̈ Check if Transferee
will take delivery of Shares pursuant to Rule 144A. The Conversion & Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and,
accordingly, the Transferor hereby further certifies that the Shares to be issued upon conversion are being transferred to a Person that the Transferor reasonably believed and believes is purchasing the Shares for its own account, or for one or more
accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule
144A and such Conversion & Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Conversion & Transfer in accordance with the terms of the
Indenture, the Shares will be subject to the restrictions on transfer enumerated in the Private Placement Legend set forth in the Indenture and the Securities Act. 
 2.  ̈ Check and complete if Transferee will take delivery of the Shares pursuant to any provision of the
Securities Act other than Rule 144A. The Conversion & Transfer is being effected in compliance with the transfer restrictions set forth in Section 2.06 of the Indenture and pursuant to and in accordance with the Securities Act
and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 
 (a)  ̈ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 or 
  

 G-1 

 (b)  ̈ such Transfer is being effected to the Company or a subsidiary thereof; 
 or 
 (c)  ̈ such Transfer is being
effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act. 
 4.  ̈ Check if Transferee will take delivery of Unrestricted Shares. 
 (a)  ̈ Check if Conversion & Transfer
is pursuant to Rule 144. (i) The Conversion & Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Conversion & Transfer in accordance with the terms of the Indenture, the Shares will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Debentures, on Restricted Definitive Debentures and in the Indenture. 
 (b)  ̈ Check if Conversion & Transfer is Pursuant to Other Exemption. (i) The Conversion & Transfer is being effected pursuant to and in compliance with an
exemption from the registration requirements of the Securities Act other than Rule 144 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and
(ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Conversion & Transfer in
accordance with the terms of the Indenture, the Shares will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Debentures or Restricted Definitive Debentures and in the
Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

			
	  
	 [Insert Name of Transferor]

		
	By:	 	  
		 	 Name:

		 	 Title:

 Dated: _______________________ 
  

 G-2 

 ANNEX A TO CERTIFICATE OF CONVERSION & RESTRICTED TRANSFER 
  

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
  

	 	(b)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Debenture (CUSIP _________), or 

  

	 	(ii)	 ̈ Regulation S Global Debenture (CUSIP ), or 

  

	 	(iii)	 ̈ IAI Global Debenture (CUSIP ); or 

  

	 	(b)	 ̈ a Restricted Definitive Debenture. 

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE]

  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Debenture (CUSIP _________), or 

  

	 	(ii)	 ̈ Regulation S Global Debenture (CUSIP _________), or

  

	 	(iii)	 ̈ IAI Global Debenture (CUSIP _________), or 

  

	 	(iv)	 ̈ Unrestricted Global Debenture (CUSIP _________); or

  

	 	(b)	 ̈ a Restricted Definitive Debenture; or 

  

	 	(c)	 ̈ an Unrestricted Definitive Debenture. 

 in accordance with the terms of the Indenture. 
 Please print the
Transferee’s name, address and tax identification number: 
  

	
	
	   
	 (Name)

	
	   
	
	   
	 (Address)

	
	   
	Social Security or other Identification Number, if any.

  

 G-3 

 EXHIBIT H 
 FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT GUARANTORS 
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of ________________, 200__, among
__________________ (the “Guaranteeing Subsidiary”), a subsidiary of Broadwing Corporation (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Guarantors (as defined in the
Indenture referred to herein) and J.P. Morgan Trust Company, National Association, as trustee under the Indenture referred to below (the “Trustee”). 
 WITNESSETH 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the
“Indenture”), dated as of May 16, 2006 providing for the issuance of 3.125% Convertible Senior Debentures due 2026 (the “Debentures”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental
indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Debentures and the Indenture on the terms and conditions set forth herein (the “Debenture
Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this
Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Debentures as follows: 
 1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture. 
 2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to provide an
unconditional Guarantee on the terms and subject to the conditions set forth in the Debenture Guarantee and in the Indenture including but not limited to Article 10 thereof. 
 4. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee,
incorporator, stockholder or agent of the Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Debentures, any Debenture Guarantees, the Indenture or this Supplemental
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Debentures by accepting a Debenture waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Debentures. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 
 5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
  

 H-1 

 7. EFFECT OF HEADINGS. The Section headings herein are for
convenience only and shall not affect the construction hereof. 
 8. THE TRUSTEE. The Trustee shall not be
responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the
Company. 
  

 H-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and
attested, all as of the date first above written. 
 Dated: _______________, 20___ 
  

			
	 [GUARANTEEING SUBSIDIARY]

		
	By:	 	  
		 	 Name:

		 	 Title:

  

			
	 BROADWING CORPORATION

		
	By:	 	  
		 	 Name:

		 	 Title:

  

			
	 [EXISTING GUARANTORS]

		
	By:	 	  
		 	 Name:

		 	 Title:

  

			
	 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION, as
Trustee

		
	By:	 	  
		 	 Authorized Signatory

  

 H-3Exhibit 10.1

 Exhibit 10.1 
 BROADWING CORPORATION 
 3.125% Convertible Senior Debentures due 2026 
 PURCHASE AGREEMENT 
 May 9,
2006 
 JEFFERIES & CO., INC. 
 520 Madison Avenue 
 New York, New York 10022 
 CIBC WORLD MARKETS CORP. 
 300 Madison Avenue 
 Third Floor 
 New York, NY 10017 
 Ladies and Gentlemen: 
 Introductory. Broadwing Corporation, a Delaware corporation (the “Company”), proposes to issue and sell to Jefferies & Co., Inc. (“Jefferies”) and CIBC World Markets Corp.
(“CIBC” and, together with Jefferies, the “Initial Purchasers”), severally and not jointly $150,000,000 aggregate principal amount of the Company’s 3.125% Convertible Senior Debentures due 2026 (the
“Firm Debentures”). In addition, the Company has granted to the several Initial Purchasers an option to purchase up to $30,000,000 aggregate principal amount of the Company’s 3.125% Convertible Senior Debentures due 2026 (the
“Option Debentures”), as provided in Section 2. The Firm Debentures and, if and to the extent such option is exercised, the Option Debentures are collectively called the “Debentures.” The Debentures will be
unconditionally guaranteed as to the payment of principal, interest, liquidated damages, if any (the “Guarantees”) by each of the Company’s existing domestic subsidiaries listed on Schedule I hereto (the
“Guarantors”) and certain subsequently acquired or organized domestic subsidiaries. The Debentures and the Guarantees are to be issued pursuant to an indenture (the “Indenture”), to be dated as of the Closing Date
(as defined below), among the Company, the Guarantors party thereto and J.P. Morgan Trust Company, National Association, as trustee (the “Trustee”). 
 The Debentures will be convertible into shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), in accordance with the terms of the Debentures and the Indenture, at
an initial ratio of 60.241 shares per $1,000 principal amount of Debentures, representing an initial conversion price of approximately $16.60 per share. 
 The holders of Debentures will be entitled to the benefits of a Registration Rights Agreement (the “Registration Rights Agreement”), pursuant to which the Company and the Guarantors party thereto will
file a shelf registration statement with the Securities and Exchange Commission (the “Commission”) registering resales of the Debentures and the shares of Common Stock issuable upon conversion thereof (the “Conversion
Shares”) under the Securities Act of 1933, as amended (the “Securities Act”). 

 The Company understands that the Initial Purchasers propose to make an offering of the Debentures on the
terms and in the manner set forth herein and agrees that the Initial Purchasers may resell, subject to the conditions set forth herein, all or a portion of the Debentures to purchasers (“Subsequent Purchasers”) at any time after the
date of this Agreement. The Debentures are to be offered and sold through the Initial Purchasers without being registered under the Securities Act, in reliance upon exemptions therefrom. Pursuant to the terms of the Debentures and the Indenture,
investors that acquire Debentures may only resell or otherwise transfer such Debentures if such Debentures are hereinafter registered under the Securities Act or if an exemption from the registration requirements of the Securities Act is available
(including the exemptions afforded by Rule 144A (“Rule 144A”) and Regulations S (“Reg S”) of the rules and regulations promulgated under the Securities Act by the Commission). 
 The Company and the Guarantors have prepared and will deliver to the Initial Purchasers (A) on the date hereof or the next succeeding business day,
copies of a final offering memorandum (the “Offering Memorandum”) for use by the Initial Purchasers in connection with their offering of the Debentures. “Offering Memorandum” means, with respect to any date or time
referred to in this Agreement, the most recent offering memorandum (whether the Offering Memorandum, or any amendment or supplement to such document), including the documents incorporated therein by reference, which has been prepared and delivered
by the Company to the Initial Purchasers in connection with their offering of the Debentures, (B) on or prior to the date hereof the preliminary offering memorandum dated May 8, 2006 (the “Preliminary Offering Memorandum”
and together with the pricing terms to Subsequent Purchasers set forth on the final terms sheet attached as Schedule II hereto, the “Disclosure Package”). 
 All references in this Agreement to financial statements and schedules and other information which is “contained,” “included,”
“described” or “stated” in the Disclosure Package and the Offering Memorandum (or other references of like import) shall be deemed to mean and include any document filed under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), which is incorporated by reference in the Disclosure Package and the Offering Memorandum. 
 The Company
hereby confirms its agreements with the Initial Purchasers as follows: 
 Section 1. Representations and Warranties of the
Company. The Company hereby represents, warrants and covenants to each of the several Initial Purchasers as of the date hereof and as of the Closing Date and as of the Option Closing Date (as defined below), if any, as follows:

 (a) Subsidiaries. The Company has no direct or indirect Subsidiaries (the “Subsidiaries”) other
than those listed in the Disclosure Package and the Offering Memorandum. Except as disclosed in the Form 10-K or in Schedule III, the Company owns, directly or indirectly, the capital stock or comparable equity interests of each Subsidiary
free and clear of any lien, charge, claim, security interest, encumbrance, right of first refusal or other restriction (collectively, “Liens”) and all the issued and outstanding shares of capital stock or comparable equity interest
of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights. 
  

 2 

 (b) Organization and Good Standing of the Company and its Subsidiaries. Each of
the Company and the Subsidiaries is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own and use its
properties and assets and to carry on its business as described in the Disclosure Package and the Offering Memorandum. Neither the Company nor any Subsidiary is in violation of any of the provisions of its respective certificate or articles of
incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to do business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not, individually or in the aggregate, (i) adversely affect the
legality, validity or enforceability of this Agreement, the Indenture, the Registration Rights Agreement, the Debentures and the Guarantees, as applicable (collectively, the “Transaction Documents”), (ii) reasonably be expected
to have or result in a material adverse effect on the results of operations, assets, business or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole on a consolidated basis, or (iii) adversely impair the
Company’s ability to perform fully on a timely basis its obligations under any of the Transaction Documents (any of (i), (ii) or (iii), a “Material Adverse Effect”). 
 (c) Capitalization and Other Capital Stock Matters. Upon issuance and delivery of the Debentures and the Guarantees in accordance
with this Agreement and the Indenture, the Debentures will be convertible at the option of the holder thereof into shares of Common Stock; the Conversion Shares have been duly authorized and reserved for issuance upon such conversion by all
necessary corporate action and such Conversion Shares when issued upon such conversion will be validly issued, fully paid and non-assessable. Neither the offering nor sale of the Debentures and the Guarantees as contemplated by this Agreement gives
rise to any rights, other than those which have been waived or satisfied, for or relating to the registration under the Securities Act of any shares of Common Stock except pursuant to the Registration Rights Agreement. 
 As of March 31, 2006, the outstanding capital stock of the Company consists of 87,155,664 shares, 87,155,664 shares of which are
common stock, $0.01 par value per share, and zero shares of which are preferred stock, $0.01 par value per share. As of March 31, 2006, the authorized capital stock of the Company consists of 1,900,000,000 shares of common stock and 200,000,000
shares of preferred stock. As of December 31, 2005, there were 74,038,257 shares of common stock issued and outstanding. There were no shares of preferred stock outstanding on March 31, 2006. Except as disclosed in the SEC Reports (as
defined below), there has been no material change in the Company’s capitalization since March 31, 2006. All outstanding shares of capital stock are duly authorized, validly issued, fully paid and nonassessable and have been issued in
compliance with all applicable securities laws. Except as disclosed in the Disclosure Package there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities,
rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any
Subsidiary is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock. Except as disclosed in Schedule IV, the issue and sale of the Debentures will not
obligate the Company to issue shares of Common Stock or other securities to any person (other than the Initial Purchasers upon conversion of the Debentures) and will not result in a 

  

 3 

 
right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities. To the knowledge of the Company,
except as specifically disclosed in the proxy statement for the Company’s annual meeting of stockholders held on May 12, 2006, no person or group of related persons beneficially owns (as determined pursuant to Rule 13d-3 under the Exchange
Act), or has the right to acquire, by agreement with or by obligation binding upon the Company, beneficial ownership of in excess of 5% of the outstanding Common Stock, ignoring for such purposes any limitation on the number of shares of Common
Stock that may be owned at any single time. 
 The information set forth under the caption “Capitalization” in the
Disclosure Package and the Offering Memorandum is true and correct in all material respects. The Debentures, the Guarantees, the Indenture, the Registration Rights Agreement and the Conversion Shares conform in all material respects to the
descriptions thereof contained in the Disclosure Package and the Offering Memorandum. 
 (d) Distribution of Offering
Material by the Company. The Disclosure Package, as of the Applicable Time (as defined below) did not contain any untrue statement of material fact or omit to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; the Offering Memorandum, as of its date and as of the Closing Date did not and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the Company makes no representations or warranties as to information contained in or omitted from the
Disclosure Package or the Offering Memorandum or any such amendment or supplement, in reliance upon, and in conformity with, written information furnished to the Company by or on behalf of the Initial Purchasers, specifically for use in the
preparation thereof. The documents incorporated or deemed to be incorporated by reference in the Disclosure Package and the Offering Memorandum at the time they were or hereafter are filed with the Commission complied and will comply in all material
respects with the requirements of the Exchange Act and the rules and regulations of the Commission thereunder (the “Exchange Act Regulations”). 
 “Applicable Time” means 4:00 p.m. (Eastern Standard Time) on May 9, 2006. 
 (e) SEC Reports; Financial Statements. The Company has filed all reports required to be filed by it under the Exchange Act,
including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (the foregoing materials (together with any materials filed by the Company under the Exchange Act, whether or not required) being collectively
referred to herein as the “SEC Reports” and, together with this Agreement and the Schedules to this Agreement, the “Disclosure Materials”) on a timely basis or has received a valid extension of such time of filing
and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and
regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the
rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements 

  

 4 

 
have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved
(“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the
dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. All material agreements to which the Company or any Subsidiary is
a party or to which the property or assets of the Company or any Subsidiary are subject are included as part of or specifically identified in the SEC Reports to the extent required by the rules and regulations of the Commission as in effect at the
time of filing. 
 (f) Independent Accountants. KPMG LLP, who has certified certain of the financial statements
included as part of, or incorporated by reference in, the Disclosure Package and the Offering Memorandum, are independent public accountants within the meaning of the Securities Act and the rules and regulations thereunder. 
 (g) No Material Adverse Proceedings. Except as disclosed in the Disclosure Package and the Offering Memorandum, there is no action,
suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company or any of its
Subsidiaries that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 
 (h) Title to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them that is material to the business of the Company and the Subsidiaries and good and marketable title
in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for Liens that do not materially affect the value of such property, do not materially
interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and could not, individually or in the aggregate, have or result in a Material Adverse Effect. To the Company’s knowledge, any real property
and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases of which the Company and the Subsidiaries are in compliance except, in each case, as could not reasonably be expected
to result in a Material Adverse Effect. 
 (i) Tax Law Compliance. Each of the Company and the Subsidiaries has filed
or caused to be filed all necessary federal, state and foreign income and franchise tax returns, except where the failure to so file such returns would not, individually or in the aggregate, have a Material Adverse Effect, and has paid or caused to
be paid all taxes shown as due thereon; and other than tax deficiencies that the Company or any Subsidiary is contesting in good faith and for which the Company or such Subsidiary has provided adequate reserves, there is no tax deficiency that has
been asserted against the Company or any of the Subsidiaries that would have, individually or in the aggregate, a Material Adverse Effect. 
 (j) Material Changes. Since the respective dates as of which information is given in the Disclosure Package and the Offering Memorandum, (i) there has been no event, occurrence or development that,
individually or in the aggregate, has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued
expenses incurred in the ordinary course of business consistent with past practice and (B)

  

 5 

 
liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the
Commission, (iii) the Company has not altered its method of accounting or the identity of its auditors, except as disclosed in its SEC Reports, (iv) the Company has not declared or made any dividend or distribution of cash or other
property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to
existing Company stock-based plans. 
 (k) Compliance. Neither the Company nor any of its Subsidiaries is in violation
of or in default under its Certificate of Incorporation, as currently in effect (the “Charter”), or its bylaws, as currently in effect (the “By-Laws”) (or in the case of an entity that is not a corporation, such
entity’s governing documents) or under any agreement, lease, contract, indenture or other instrument or obligation to which it is a party or by which it, or any of its properties, is bound and which default would have a Material Adverse Effect.
Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under),
nor has the Company or any Subsidiary received written notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or
any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any order of any court, arbitrator or governmental body, or (iii) to the Company’s knowledge, is or has been in
violation of any statute, rule or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and
safety and employment and labor matters, except in each case as could not, individually or in the aggregate, reasonably be expected to have or result in a Material Adverse Effect. 
 (l) No Consents. Each approval, consent, order, authorization, designation, declaration or filing by or with any regulatory,
administrative or other governmental body necessary to be made by or on behalf of the Company and the Guarantors in connection with the execution and delivery by the Company and the Guarantors of this Agreement, the issuance and sale of the
Debentures and the Guarantees and the issuance of the Conversion Shares and the consummation of the transactions contemplated in this Agreement, the Debentures, the Guarantees, the Indenture and the Registration Rights Agreement has been obtained or
made and is in full force and effect, except for (i) the effectiveness of the shelf registration statement under the Securities Act and the qualification of the Indenture under the Trust Indenture Act of 1939, as amended (the “Trust
Indenture Act”), in each case, as contemplated by the Registration Rights Agreement, the Disclosure Package and the Offering Memorandum and (ii) such additional steps as may be necessary to qualify the Debentures for public offering by
the Initial Purchasers under state securities or Blue Sky laws. 
 (m) Patents and Trademarks. Except as disclosed in
the Disclosure Package and the Offering Memorandum, to the Company’s knowledge, the Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names,
copyrights, licenses and other similar rights that are necessary or material for use in connection with their respective businesses as described in the Disclosure Package and the Offering Memorandum and which the failure to so have could have a
Material Adverse Effect (collectively, the “Intellectual Property Rights”). Neither the Company nor any Subsidiary has received a written notice that the 

  

 6 

 
Intellectual Property Rights used by the Company or any Subsidiary violates or infringes upon the rights of any person except as may be described in the
Disclosure Package and the Offering Memorandum or as could not reasonably be expected to result in a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing
infringement by another Person of any of the Intellectual Property Rights, in each case except as may be described in the Disclosure Package and the Offering Memorandum or as could not reasonably be expected to result in a Material Adverse Effect.

 (n) Regulatory Permits, etc. The Company and the Subsidiaries possess all certificates, authorizations and permits
issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the Disclosure Package and the Offering Memorandum, except where the failure to possess such permits
could not, individually or in the aggregate, have or result in a Material Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any written notice of proceedings relating to the revocation or
modification of any Material Permit, except as described in the Disclosure Package and the Offering Memorandum or as could not reasonably be expected to result in a Material Adverse Effect. 
 (o) No Price Stabilization or Manipulation. Neither the Company, the Guarantors, nor to the Company’s and the Guarantor’s
best knowledge, any of their respective affiliates (as defined in Rule 144 under the Act), has taken or will take, directly or indirectly, any action designed to cause or result in, or which has constituted or which might reasonably be expected to
constitute, the manipulation or unlawful stabilization of the price of the shares of Common Stock to facilitate the sale or resale of the Debentures or Conversion Shares. 
 (p) Company Not an “Investment Company.” The Company and the Guarantors are not, and after receipt of payment for
the Debentures none of them will be, an “investment company” within the meaning of Investment Company Act of 1940 and will conduct their respective business in a manner so that none will become subject to the Investment Company Act.

 (q) Internal Control Over Financial Reporting. The Company maintains a system of internal control over financial
reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that complies with the requirements of the Exchange Act. The Company’s internal control over financial reporting is effective and the Company is not aware of any
material weaknesses in its internal control over financial reporting. Since the date of the audited financial statements included in Disclosure Package and the Offering Memorandum, there has been no change in the Company’s internal control over
financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. 
 (r) Sarbanes-Oxley. The Company is in compliance in all material respects with any and all applicable requirements of the
Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof. 
 (s) Internal Accounting and Disclosure Controls. The Company and the Subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s 

  

 7 

 
general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP
and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any differences. The Company maintains disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) that comply with the requirements of the Exchange Act; such
disclosure controls and procedures are effective. 
 (t) Insurance. The Company and the Subsidiaries are insured by
insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. Neither the Company nor any Subsidiary has any
reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business. 
 (u) ERISA Compliance. Except as otherwise disclosed in the Disclosure Package and the Offering Memorandum, the Company and its
Subsidiaries and any “employee benefit plan” (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, “ERISA”))
established or maintained by the Company, its Subsidiaries or their “ERISA Affiliates” (as defined below) are in compliance in all material respects with ERISA. “ERISA Affiliate” means, with respect to the Company
or a Subsidiary, any member of any group of organizations described in Sections 414(b),(c),(m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (the
“Code”) of which the Company or such Subsidiary is a member. No “reportable event” (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any “employee benefit
plan” established or maintained by the Company, its Subsidiaries or any of their ERISA Affiliates. No “employee benefit plan” established or maintained by the Company, its Subsidiaries or any of their ERISA Affiliates, if
such “employee benefit plan” were terminated, would have any “amount of unfunded benefit liabilities” (as defined under ERISA). Neither the Company, its Subsidiaries nor any of their ERISA Affiliates has incurred or
reasonably expects to incur any liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any “employee benefit plan” or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each
“employee benefit plan” established or maintained by the Company, its Subsidiaries or any of their ERISA Affiliates that is intended to be qualified under Section 401(a) of the Code is so qualified and nothing has occurred,
whether by action or failure to act, which would cause the loss of such qualification. 
 (v) No Labor Disturbance. No
labor or employment dispute exists or, to the knowledge of the Company, is imminent or threatened, with respect to any of the employees or consultants of the Company that has, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. 
 (w) Compliance with Environmental Laws. Except as described in the Disclosure
Package and the Offering Memorandum and except as would not, singly or in the aggregate, result in a Material Adverse Effect, (i) neither the Company nor any of its Subsidiaries is in violation of any federal, state, local or foreign statute,
law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment, relating to pollution or protection of human
health, the environment (including, without limitation, 

  

 8 

 
ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the
release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products (collectively, “Hazardous Materials”) or to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, “Environmental Laws”), (ii) the Company and its Subsidiaries have all permits, authorizations and approvals required
under any applicable Environmental Laws and are each in compliance with their requirements, (iii) there are no pending or threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of
noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company or any of its Subsidiaries and (iv) there are no events or circumstances that might reasonably be expected to form the basis of an
order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or affecting the Company or any of its Subsidiaries relating to Hazardous Materials or any Environmental Laws.

 (x) No Unlawful Contributions or Other Payments. Neither the Company nor the Guarantors nor, to the knowledge of the
Company and the Guarantors, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or the Guarantors has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; or (iii) made any bribe, rebate, payoff, influence,
payment, kickback or other unlawful payment. 
 (y) Compliance with Federal Reserve Regulations. Neither the Company
nor any of the Subsidiaries owns any “margin securities” as that term is defined in Regulations G and U of the Board of Governors of the Federal Reserve System ( the “Federal Reserve Board”), and none of the proceeds of
the sale of the Debentures will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin
security or for any other purpose which might cause any of the Debentures to be considered a “purpose credit” within the meanings of Regulation G, T, U or X of the Federal Reserve Board. 
 (z) Authority. The Company and the Guarantors have the requisite corporate or limited liability company power and authority to
enter into and to consummate the transactions contemplated by each of the Transaction Documents to which they are a party and otherwise to carry out their obligations hereunder and thereunder. 
 (aa) Purchase Agreement. This Agreement has been duly authorized, executed and delivered. 
 (bb) Indenture. The Indenture has been duly authorized by the Company and the Guarantors party thereto and, when executed and
delivered by the Company, the Guarantors party thereto and the Trustee, will constitute a valid and binding agreement of the Company and the Guarantors party thereto, enforceable against the Company and the Guarantors party thereto in accordance
with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting 

  

 9 

 
enforcement of creditors’ rights generally and equitable principles of general applicability (regardless of whether enforcement is considered in a
proceeding in equity or at law). 
 (cc) Registration Rights Agreement. The Registration Rights Agreement has been duly
authorized by the Company and the Guarantors party thereto and, when executed and delivered by the Company, the Guarantors party thereto and the Initial Purchasers, will constitute a valid and binding agreement of the Company and the Guarantors
party thereto, enforceable against the Company and the Guarantors party thereto in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and equitable principles of general applicability (regardless of whether enforcement is considered in a proceeding in equity
or at law) and except that rights to indemnification and contribution thereunder may be limited by federal or state securities laws or public policy relating thereto. 
 (dd) Debentures. The Debentures have been duly authorized and at the Closing Date, when executed by the Company, authenticated by
the Trustee in accordance with the terms of the Indenture and delivered to and paid for by the Initial Purchasers in accordance with the terms of this Agreement, will constitute valid and binding obligations of the Company, enforceable against the
Company in accordance with their terms except enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement
of creditors’ rights generally and equitable principles of general applicability (regardless of whether enforcement is considered in a proceeding in equity or at law) and will be entitled to the benefits of, the Indenture and the Registration
Rights Agreement. 
 (ee) Guarantees. The Guarantees have been duly authorized and at the Closing Date, when executed
by the Guarantors, authenticated by the Trustee in accordance with the terms of the Indenture and delivered to and paid for by the Initial Purchasers in accordance with the terms of this Agreement, will constitute valid and binding obligations of
the Guarantors, enforceable against the Guarantors in accordance with their terms except enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or similar laws affecting enforcement of creditors’ rights generally and equitable principles of general applicability (regardless of whether enforcement is considered in a proceeding in equity or at law) and will be entitled to the
benefits of, the Indenture and the Registration Rights Agreement. 
 (ff) No Conflicts. The execution, delivery and
performance of the Transaction Documents to which it is a party by the Company and the Guarantors and the consummation by the Company and the Guarantors of the transactions contemplated hereby and thereby do not and will not (i) conflict with
or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default (or an event that with notice or
lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument
(evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, except to the extent that such
conflict, default or termination right could not reasonably be expected to have a Material Adverse Effect, or (iii) result in a violation of any law, rule, 

  

 10 

 
regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject
(including federal and state securities laws and regulations and the rules and regulations of any self-regulatory organization to which the Company or its securities are subject), or by which any property or asset of the Company or a Subsidiary is
bound or affected. 
 (gg) No Solicitations; Private Placement. Neither the Company, the Guarantors nor any of their
respective affiliates, as such term is defined in Rule 501(b) of Regulation D under the Securities Act (each an “Affiliate”), has directly or indirectly, solicited any offers to buy, sold or offered to sell any security under
circumstances that would require the Debentures or the Conversion Shares to be registered under the Securities Act. None of the Company, the Guarantors, their Affiliates or any person acting on its or any of their behalf (other than the Initial
Purchasers, as to whom the Company and the Guarantors make no representation) has engaged or will engage in any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act. Assuming
the accuracy of the Initial Purchasers’ representations and warranties set forth in Section 2 and compliance with the procedures set forth in Section 7 hereof, it is not necessary in connection with the offer, sale issuance and
delivery of the Debentures and the Guarantees to the Initial Purchasers and the offer, resale and delivery of the Debentures by the Initial Purchasers in the manner contemplated by this Agreement, the Disclosure Package and the Offering Memorandum
to register the Debentures under the Securities Act or to qualify the Indenture under the Trust Indenture Act. 
 (hh) No
Securities of the Same Class. The Debentures are eligible for resale pursuant to Rule 144A and Reg S and will not be, at the Closing Date, of the same class as securities listed on a national securities exchange registered under Section 6
of the Exchange Act, or quoted in a U.S. automated interdealer quotation system. 
 (ii) Related Party Transactions.
Except as set forth in the SEC Reports, none of the officers or directors of the Company and, to the knowledge of the Company, none of the employees of the Company, is presently a party to any transaction with the Company or any Subsidiary (other
than for services as employees, officers and directors) exceeding $60,000, including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or
otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or
partner. 
 The Company and the Guarantors acknowledge that the Initial Purchasers and, for purposes of the opinions to be
delivered pursuant to Section 5 hereof, counsel to the Company and the Guarantors and counsel to the Initial Purchasers, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.

 Section 2. Purchase, Sale and Delivery of the Debentures. 
 (a) On the basis of the representations, warranties and covenants herein contained, and subject to the conditions herein set forth, the
Company and the Guarantors agree to sell to the Initial Purchasers, and the Initial Purchasers agree, severally and not jointly, to purchase from the Company the aggregate principal amount of Firm Debentures set forth opposite their names on
Schedule V at the purchase price of 96.875% of the principal 

  

 11 

 
amount of the Firm Debentures (and the Guarantees thereof) (the “Purchase Price”) plus accrued interest if any from the Closing Date.

 (b) Payment of the Purchase Price for the Firm Debentures to be sold hereunder is to be made in immediately available funds
via wire transfer to the order of the Company for the Debentures to be sold by it against delivery of certificates therefor to the Initial Purchasers. Such delivery is to be made at the offices of Latham & Watkins LLP, New York, New York at
9:00 a.m., EST time, on May 16, 2006 or at such other time and date not later than five business days thereafter as you and the Company shall agree upon, such time and date being herein referred to as the “Closing Date.” (As
used herein, “business day” means a day on which each of the New York Stock Exchange and the Nasdaq National Market is open for trading and on which banks in New York are open for business and not permitted by law or executive order
to be closed.) Upon delivery of the Purchase Price, one or more global securities representing the Debentures shall be registered by the Trustee in the name of the nominee of The Depositary Trust Company (“DTC”), Cede &
Co., credited to the respective accounts of each of the Initial Purchasers and deposited with the Trustee as custodian for DTC on the Closing Date. 
 (c) In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company and the Guarantors hereby grant to the Initial Purchasers an
option to purchase, severally and not jointly, pro rata (in the same proportion as each Initial Purchaser is obligated to purchase the Firm Debentures), any or all of the Option Debentures (and the Guarantees thereof) at the Purchase Price. The
option granted hereby may be exercised in whole or in part by Jefferies giving written notice to the Company setting forth the aggregate principal amount of Option Debentures as to which the Initial Purchasers are exercising the option and the time
and date for delivery of and payment for such Option Debentures. The time and date at which certificates for Option Debentures are to be delivered shall be determined by Jefferies but shall not be later than 30 days from and including the Closing
Date, nor in any event prior to the Closing Date (such time and date being herein referred to as the “Option Closing Date”). If the date of exercise of the option is three or more days before the Closing Date, the notice of exercise
shall set the Closing Date as the Option Closing Date. Jefferies may cancel such option at any time prior to its expiration by giving written notice of such cancellation to the Company. To the extent, if any, that the option is exercised, payment
for the Option Debentures shall be made on the Option Closing Date in immediately available funds via wire transfer to the order of the Company for the Option Debentures against delivery of Debentures therefor. 
 (d) It is understood that each Initial Purchaser will offer and sell the Debentures in accordance with this Section 2 as soon as that
Initial Purchaser deems it advisable to do so. The Debentures are to be initially offered at the offering price set forth in the Disclosure Package and Offering Memorandum. Each Initial Purchaser may from time to time thereafter change the price and
other selling terms. 
 (e) Each Initial Purchaser severally and not jointly understands and acknowledges that the Debentures
and the Conversion Shares have not been and will not be registered under the Securities Act (except as contemplated by the Registration Rights Agreement) and may not be offered or sold, except in compliance with the registration requirements of the
Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, each Initial Purchaser severally and not jointly agrees that it will offer and sell the Debentures
only to 

  

 12 

 
persons that it reasonably believes to be qualified institutional buyers as defined in Rule 144A under the Securities Act and outside the United States to
“Non-U.S. Persons” as defined in Reg S under the Securities Act. 
 (f) Each Initial Purchaser severally and not
jointly agrees that neither it nor any person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising (as those terms are used in Rule 502(c) of Regulation D under the Securities Act) in
connection with any offer or sale of the Debentures in the United States. 
 (g) Each Initial Purchaser severally and not
jointly represents and warrants to, and agrees with, the Company and the Guarantors that it is a “qualified institutional buyer” within the meaning of Rule 144A (a “QIB”) and an “accredited investor” within the
meaning of Rule 501(a) under the Securities Act. 
 Section 3. Covenants of the Company and the Guarantors. The Company and the
Guarantors further covenant and agree with the Initial Purchasers as follows: 
 (a) Blue Sky Compliance. The Company
will cooperate with the Initial Purchasers in endeavoring to qualify the Debentures for sale under the securities laws of such jurisdictions as the Initial Purchasers may reasonably have designated in writing and will make such applications, file
such documents, and furnish such information as may be reasonably required for that purpose; provided that the Company and the Guarantors shall not be required to qualify as a foreign corporation or to file a general consent to service of process in
any jurisdiction where it is not now so qualified or required to file such a consent. The Company and the Guarantors will, from time to time, prepare and file such statements, reports, and other documents, as are or may be required to continue such
qualifications in effect for so long a period as the Initial Purchasers may reasonably request for distribution of the Debentures. 
 (b) Delivery of Offering Memoranda. The Company and the Guarantors will deliver to, or upon the order of, the Initial Purchasers, from time to time, as many copies of the Preliminary Offering Memorandum and the Offering Memorandum as
the Initial Purchasers may reasonably request, including documents incorporated by reference therein, and of all amendments thereto, as the Initial Purchasers may reasonably request. 
 (c) Amendments and Supplements to the Offering Memoranda and Other Securities Act Matters. The Company will immediately notify the
Initial Purchasers, and confirm such notice in writing, of (i) any filing made by the Company of information with any securities exchange or any other regulatory body in the United States or any other jurisdiction until such time as the
placement of the Debentures by the Initial Purchasers is complete, as evidenced by a notice in writing from the Initial Purchasers that is promptly provided to the Company, and (ii) prior to the completion of the placement of the Debentures by
the Initial Purchasers as evidenced by a notice in writing from the Initial Purchasers that is promptly provided to the Company, any material changes in or affecting the condition, financial or otherwise, or the earnings, business affairs or
business prospects of the Company, the Guarantors and their respective subsidiaries, considered as one enterprise, which (x) make any statement in the Disclosure Package or the Offering Memorandum false or misleading or (y) are not
disclosed in the Disclosure Package or Offering Memorandum. In such event or if during such time any event shall occur as a result of which it is necessary in the reasonable opinion of any of the Company, its counsel, the Initial Purchasers or
counsel for the Initial Purchasers, to amend or supplement the Disclosure Package or the Offering Memorandum in 

  

 13 

 
order that the Disclosure Package or the Offering Memorandum not include any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein not misleading in the light of the circumstances then existing, the Company will forthwith amend or supplement the Disclosure Package or the Offering Memorandum by preparing and furnishing to the Initial
Purchasers an amendment or amendments of, or a supplement or supplements to, the Disclosure Package or the Offering Memorandum (in form and substance reasonably satisfactory to Jefferies) so that, as so amended or supplemented, the Disclosure
Package or the Offering Memorandum will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at the time it is delivered to
a Subsequent Purchaser, not misleading. 
 (d) Offers; Solicitations. The Company and the Guarantors represent and
agree that, unless they obtain the prior consent of Jefferies, they have not made and will not make any offer relating to the Debentures by means of any “individual written communication” (within the meaning of the Securities Act) prepared
by or on behalf of the Company or the Guarantors, or used or referred to by the Company, that constitutes an offer to sell or a solicitation of an offer to buy the Debentures other than the Disclosure Package and the Offering Memorandum or
amendments or supplements thereto, including, without limitation, any road show relating to the Debentures that constitutes such a written communication. 
 (e) Amendments to Offering Memoranda. The Company and the Guarantors will advise the Initial Purchasers promptly of any proposal to amend or supplement the Disclosure Package and the Offering Memorandum and
will not effect such amendment or supplement without the consent of Jefferies, which consent shall not be unreasonably withheld. Neither the consent of Jefferies nor the Initial Purchasers’ delivery of any such amendment or supplement, shall
constitute a waiver of any of the conditions set forth in Section 5 hereof. 
 (f) Depositary Trust Company. The
Company and the Guarantors will cooperate with the Initial Purchasers and use its reasonable best efforts to permit the Debentures to be eligible for clearance and settlement through the facilities of DTC. 
 (g) Use of Proceeds. The Company and the Guarantors will use the proceeds of the Debentures in compliance with the credit facility
and in the manner specified in the Disclosure Package and Offering Memorandum under “Use of Proceeds.” 
 (h)
Reports. For as long as the Debentures are outstanding or a period of four (4) years from the Closing Date, whichever is shorter, the Company will deliver to the Initial Purchasers copies of annual reports and copies of all other
documents, reports and information furnished by the Company to its stockholders generally or filed with any securities exchange pursuant to the requirements of such exchange or with the Commission pursuant to the Securities Act or the Exchange Act.
The Company will deliver to the Initial Purchasers similar reports with respect to significant subsidiaries, as that term is defined in the Securities Act, if any, which are not consolidated in the Company’s financial statements. The Company
shall be deemed to be in compliance with the delivery obligations pursuant to this Section 3(h) by publicly filing such information via the Commission’s Electronic Data Gathering and Retrieval System. 
  

 14 

 (i) Other Securities. No offering, sale, short sale, issuance or other disposition
of any shares of Common Stock of the Company or other securities convertible into or exchangeable or exercisable for shares of Common Stock or derivative of Common Stock (or agreement for such) will be made for a period of 30 days after the date of
this Agreement, directly or indirectly, by the Company otherwise than hereunder or with the prior written consent of Jefferies except for (i) options granted in the ordinary course of business under the Company’s employee or director stock
option plans, (ii) shares of Common Stock issued or options to purchase shares of Common Stock granted pursuant to the Company’s stock option, stock bonus or other stock plan or employee benefit plan or dividend or investment plan existing
as of the date hereof, (iii) the sale of Debentures (and the Guarantees thereof) under this Agreement, (iv) issuance of the Conversion Shares or (v) the filing of the shelf registration statement in respect of the Debentures and the
Conversion Shares or any registration statement in respect of any employee, officer or director stock option or other benefit plan existing as of the date hereof. 
 (j) PORTALSM. The Company and the Guarantors will use their reasonable best efforts to permit the Debentures to be designated PORTALSM-eligible securities in accordance with the rules and regulations adopted by the NASD relating to the PORTALSM Market. 
 (k) Shares of
Common Stock. The Company will reserve and keep available at all times, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to satisfy any obligations to issue Common Stock upon
conversion of the Debentures. 
 (l) Nasdaq National Market. The Company will use its reasonable best efforts to cause
all shares of Common Stock issuable upon conversion of the Debentures to be listed on the Nasdaq National Market. 
 (m)
Exchange Act. The Company and the Guarantors will file all documents required to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act and the Exchange Act Regulations. 
 (n) Investment Company Act. The Company and the Guarantors shall not invest, or otherwise use the proceeds received by the Company
and the Guarantors from the sale of the Debentures in such a manner as would require the Company or any of the Guarantors to register as an investment company under the 1940 Act. 
 (o) Transfer Agent. For so long as any Debenture is outstanding, the Company will continue to maintain a transfer agent and, if
necessary under the jurisdiction of incorporation of the Company, a registrar for the Common Stock. 
 (p) No
Stabilization; Manipulation. The Company and the Guarantors will not take, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or
manipulation of the price of any securities of the Company. 
 Section 4. Payment of Expenses. The Company and the Guarantors
will pay all costs, expenses and fees incident to the performance of the obligations of the Company and the Guarantors under this Agreement, including, without limiting the generality of the foregoing, the following: (a) accounting fees of the
Company and the Guarantors; (b) the fees and 

  

 15 

 
disbursements of counsel for the Company and the Guarantors; (c) the cost of preparing, printing and delivering to, or as requested by, the Initial
Purchasers copies of the Disclosure Package, Offering Memorandum, this Agreement, the Indenture, the Registration Rights Agreement and any other documents that may be required in connection with the offering, purchase, sale, issuance or delivery of
the Debentures (and the Guarantees thereof); (d) the qualification of the Debentures under securities laws in accordance with the provisions of Section 3(a) hereof, including filing fees and the reasonable fees and disbursements of counsel
for the Initial Purchasers in connection therewith and in connection with the preparation of the Blue Sky Survey, any supplement thereto and any Legal Investment Survey (subject to the limitations set forth in the Engagement Letter between the
Initial Purchasers and the Company, dated April 9, 2006); (e) the fees and expenses of the Trustee, including the reasonable fees and disbursements of counsel for the Trustee in connection with the Indenture and the Debentures (and the
Guarantees thereof); (f) any fees payable in connection with the initial and continued designation of the Debentures as PORTALSM securities under the PORTALSM Market pursuant to NASD Rule 5322; and (g) the listing fee of
the Nasdaq National Market relating to the Conversion Shares. Any transfer taxes imposed on the sale of the Debentures to the Initial Purchasers will be paid by the Company and the Guarantors. The Company and the Guarantors, however, shall not be
required to pay for any of the Initial Purchasers’ expenses (other than those related to clause (d) above) except that, if this Agreement shall not be consummated because this Agreement is terminated by the Initial Purchasers pursuant to
Section 10 hereof, or by reason of any failure, refusal or inability on the part of the Company or the Guarantors to perform any undertaking or satisfy any condition of this Agreement or to comply with any of the terms hereof, unless such
failure to satisfy said condition or to comply with said terms be due to the default or omission of the Initial Purchasers, then the Company and the Guarantors shall reimburse the Initial Purchasers for reasonable out-of-pocket expenses, including
fees and disbursements of counsel, reasonably incurred in connection with investigating, marketing and proposing to market the Debentures or in contemplation of performing their obligations hereunder; but the Company and the Guarantors shall not in
any event be liable to the Initial Purchasers for damages on account of loss of anticipated profits from the sale by the Initial Purchasers of the Debentures. 
 Section 5. Conditions of the Obligations of the Initial Purchasers. The obligation of the Initial Purchasers to purchase the Firm Debentures on the Closing Date and the Option Debentures, if any, on the Option
Closing Date is subject to the accuracy as of the date hereof and as of the Closing Date or the Option Closing Date, as the case may be, of the representations and warranties of the Company and the Guarantors contained herein, and to the performance
by the Company and the Guarantors of their respective covenants and obligations hereunder and to the following additional conditions: 
 (a) Opinion of Counsel for the Company and the Guarantors. The Initial Purchasers shall have received on the Closing Date or the Option Closing Date, as the case may be, the opinion of Mayer, Brown
Rowe & Maw LLP, counsel for the Company and the Guarantors dated the Closing Date or the Option Closing Date, as the case may be, addressed to the Initial Purchasers substantially in the form attached hereto as Exhibit A. 

(b) Opinion of Counsel for the Initial Purchasers. The Initial Purchasers shall have received on the Closing Date or the Option
Closing Date, as the case may be, the opinion of Latham & Watkins LLP, counsel for the Initial Purchasers dated the Closing Date or the Option Closing Date, as the case may be, addressed to the Initial Purchasers, in form and substance
satisfactory to the Initial Purchasers, dated as of such Closing Date. 
  

 16 

 (c) Accountant’s Comfort Letter. The Initial Purchasers shall have received,
on each of the date hereof, the Closing Date and the Option Closing Date, as the case may be, a letter dated the date hereof, the Closing Date or the Option Closing Date, as the case may be, in form and substance satisfactory to you, of KPMG LLP,
confirming that they are independent public accountants within the meaning of the Securities Act and stating that in their opinion the financial statements and schedules examined by them and included in the Disclosure Package and Offering Memorandum
comply in form in all material respects with the applicable accounting requirements of the Securities Act; and containing such other statements and information as is ordinarily included in accountants’ “comfort letters” to the Initial
Purchasers with respect to the financial statements and certain financial and statistical information contained in the Disclosure Package and Offering Memorandum. 
 (d) Officers’ Certificate. The Initial Purchasers shall have received on the Closing Date or the Option Closing Date, as the
case may be, a certificate or certificates of the Chief Executive Officer and the Chief Financial Officer of the Company and the Guarantors to the effect that, as of the Closing Date or the Option Closing Date, as the case may be, each of them
severally represents in their official capacity as follows: 
 (i) The representations and warranties of the Company and the
Guarantors contained in Section 1 hereof are true and correct as of the Closing Date or the Option Closing Date, as the case may be; 
 (ii) Except as disclosed in the Disclosure Package and the Offering Memorandum since the respective dates as of which information is given in the Disclosure Package and the Offering Memorandum there has not been any
Material Adverse Effect or any development known to such person involving a prospective Material Adverse Effect in or affecting the earnings, business, management, properties, assets, operations or condition (financial or otherwise) of the Company
and the Guarantors taken as a whole, whether or not arising in the ordinary course of business; and 
 (iii) The officer has
carefully examined the Disclosure Package and Offering Memorandum and, to such officer’s knowledge, as of the Applicable Time and the Closing Date, the statements contained in the Disclosure Package and Offering Memorandum were true and correct
in all material respects and such Disclosure Package and Offering Memorandum did not omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading, and since the respective dates of
the Disclosure Package and Offering Memorandum, no event has occurred which should have been set forth in a supplement to or an amendment of the Disclosure Package and Offering Memorandum which has not been so set forth in such supplement or
amendment; provided; however, that the officer makes no representations or warranties as to information contained in or omitted from the Disclosure Package or the Offering Memorandum or any such amendment or supplement, in reliance
upon, and in conformity with, written information furnished to the Company by or on behalf of the Initial Purchasers, specifically for use in the preparation thereof. 
 (e) Additional Certificates. The Company and the Guarantors shall have furnished to the Initial Purchasers such further
certificates and documents confirming the representations and warranties, covenants and conditions contained herein and related matters as the Initial Purchasers may reasonably have requested in writing. 
  

 17 

 (f) Listing of Conversion Shares. The Conversion Shares have been approved as
additional shares of Common Stock for listing upon notice of issuance on the Nasdaq National Market. 
 (g) Lock-up
Agreements. The “lock-up” agreements, each substantially in the form of Exhibit B hereto, between you and each executive officer and director of the Company relating to sales and certain other dispositions of shares of Common
Stock or certain other securities, delivered to you on or before the Closing Date, shall be in full force and effect on the Closing Date. 
 (h) Registration Rights Agreement. At the Closing Date, the Registration Rights Agreement in form and substance reasonably satisfactory to the Initial Purchasers shall have been duly executed and delivered by
the Company and the Guarantors and (assuming due execution, delivery and performance by the Initial Purchasers) be in full force and effect. 
 (i) PORTALSM and DTC.
At the Closing Date, the Debentures shall have been designated for trading on PORTALSM and eligible for the DTC
book-entry system. 
 (j) No Change in Long-Term Debt or Capital Stock. Subsequent to the execution and delivery
of this Agreement or, if earlier, the dates as of which information is given in the Disclosure Package and the Offering Memorandum (exclusive of any amendment or supplement thereto), there shall not have been any change in the capital stock or
long-term debt or any change, or any development involving a prospective change, in or affecting the financial condition, results of operations or business of the Company and its Subsidiaries taken as a whole, the effect of which, in any such case
described above, is, in the sole judgment of Jefferies, so material and adverse as to make it impracticable or inadvisable to proceed with the sale or delivery of the Debentures (and the Guarantees thereof) on the terms and in the manner
contemplated by this Agreement, Disclosure Package and the Offering Memorandum (exclusive of any amendment or supplement thereto). 
 (k) Stock Exchange Listing. The Conversion Shares shall have been approved for listing on the Nasdaq National Market, subject only to official notice of issuance. 
 The opinions and certificates mentioned in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are
in all material respects satisfactory to the Initial Purchasers. 
 If any of the conditions hereinabove provided for in this
Section 5 shall not have been fulfilled when and as required by this Agreement to be fulfilled, the obligations of the Initial Purchasers hereunder may be terminated by the Initial Purchasers by notifying the Company of such termination in
writing at or prior to the Closing Date or the Option Closing Date, as the case may be. 
 In such event, the Company, the
Guarantors and the Initial Purchasers shall not be under any obligation to each other (except to the extent provided in Sections 4 and 8 hereof). 
 Section 6. Reimbursement of Initial Purchasers’s Expenses. If this Agreement is terminated by the Initial Purchasers pursuant to Section 5 or Section 10, or if the sale to the Initial Purchasers of the Firm Debentures
on the Closing Date is not consummated because of 

  

 18 

 
any refusal, inability or failure on the part of the Company or the Guarantors to perform any agreement herein or to comply with any provision hereof, the
Company and the Guarantors agree to reimburse the Initial Purchasers for all out-of-pocket expenses that shall have been reasonably incurred by the Initial Purchasers in connection with the proposed purchase and the offering and sale of the
Debentures (and the Guarantees thereof), including but not limited to fees and disbursements of counsel, printing expenses, travel expenses, postage, facsimile and telephone charges. 
 Section 7. Subsequent Offers and Resales of the Debentures 
 (a) Each Initial Purchaser severally and not jointly agrees to observe the following procedures in connection with the offer and sale of
the Debentures: 
 (i) Offers and sales of the Debentures shall only be made to persons whom the offeror or seller reasonably
believes to be qualified institutional buyers (as defined in Rule 144A under the Securities Act) or to “Non-U.S. Persons” (as defined in Reg S under the Securities Act). 
 (ii) No general solicitation or general advertising (within the meaning of Rule 502(c) under the Securities Act) or in any manner
involving a public offering (within the meaning of Section 4(2) of the Securities Act) will be used in connection with the offering or sale of the Debentures. 
 (iii) It will take reasonable steps to inform, and cause each of its U.S. affiliates to take reasonable steps to inform, persons acquiring
Debentures from such Initial Purchaser or affiliate, as the case may be, in the United States that the Debentures (A) have not been registered under the Securities Act, (B) are being sold to them without registration under the Securities
Act in reliance on Rule 144A or Reg S and (C) may not be offered, sold or otherwise transferred except (1) to the Company, (2) to U.S. persons in accordance with (x) Rule 144A to a person whom the seller reasonably believes is a
QIB that is purchasing such Debentures for its own account or for the account of a QIB to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or (y) pursuant to another available exemption from
registration under the Securities Act or (3) to Non-U.S. persons in accordance with Reg S. 
 (iv) The transfer
restrictions and the other provisions set forth in the Disclosure Package and the Offering Memorandum under the heading “Transfer Restrictions,” including the legend required thereby, shall apply to the Debentures except as otherwise
agreed by the Company and the Initial Purchaser or as otherwise required by law. 
 (b) The Company and the Guarantors
covenant with the Initial Purchasers as follows: 
 (i) The Company and the Guarantors agree they will not, and will cause
their Affiliates not to, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any “security” (as defined in the Securities Act) in a transaction that could be integrated with the sale of the Debentures in a
manner that would require the registration under the Securities Act of the Debentures. 
 (ii) The Company and the Guarantors
agree that for so long as any of the Debentures are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, it will make available, upon request, to any holder of Debentures or prospective purchasers of

  

 19 

 
Debentures the information specified in Rule 144A(d)(4) of the Securities Act, unless the Company furnishes such information to the Commission pursuant to
Section 13 or 15(d) of the Exchange Act. 
 (iii) During the period beginning on the last date of original issuance of
the Debentures and ending on the date that is two years from such date, the Company and the Guarantors will not resell, and will not permit any of their affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Debentures
which constitute “restricted securities” under Rule 144 that have been reacquired by any of them. 
 Section 8. Indemnification.

 (a) Indemnification of the Initial Purchasers. The Company and the Guarantors agree to indemnify and hold
harmless each Initial Purchaser, its directors, officers, employees and agents, and each person, if any, who controls that Initial Purchaser within the meaning of the Securities Act and the Exchange Act against any loss, claim, damage, liability or
expense, as incurred, to which any Initial Purchaser or such director, officer, employee, agent or controlling person may become subject, under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, or at common
law or otherwise (including in settlement of any litigation), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based upon any untrue statement or alleged untrue
statement of a material fact contained in the Disclosure Package or the Offering Memorandum, or any amendment thereto, or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading; provided that the Company and the Guarantors shall not be liable under this Section 8(a) to the extent that a court of competent jurisdiction shall have determined by a final
judgment that such loss, claim, damage, liability or action resulted directly from any such acts or failures to act undertaken or omitted to be taken by any Initial Purchaser through its bad faith or willful misconduct; and to reimburse the Initial
Purchasers and each such director, officer, employee, agent or controlling person for any and all expenses (including the fees and disbursements of counsel chosen by Jefferies) as such expenses are reasonably incurred by the Initial Purchasers or
such director, officer, employee, agent or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that the foregoing indemnity
agreement shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and
in conformity with written information furnished to the Company by the Initial Purchasers expressly for use in the Disclosure Package or the Offering Memorandum, any Preliminary Offering Memorandum (or any amendment or supplement thereto), it being
understood and agreed that the only such information furnished by the Initial Purchasers to the Company consists of the information described in subsection (b) below. The indemnity agreement set forth in this Section 8(a) shall be in
addition to any liabilities that the Company and the Guarantors may otherwise have. 
 (b) Indemnification of the
Company and the Guarantors. Each Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless the Company and the Guarantors, each of their respective directors, officers, employees and agents and each person, if any, who
controls the Company and the Guarantors within the meaning of the Securities Act or the Exchange Act, against any loss, claim, damage, liability or expense, as incurred, to which the Company and the Guarantors, or any such director, officer,
employee, 

  

 20 

 
agent or controlling person may become subject, under the Securities Act, the Exchange Act, or other federal or state statutory law or regulation, or at
common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of such Initial Purchaser), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as
contemplated below) arises out of or is based upon any untrue or alleged untrue statement of a material fact contained in the Disclosure Package or the Offering Memorandum (or any amendment or supplement thereto), or arises out of or is based upon
the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was made in the Disclosure Package or the Offering Memorandum (or any amendment or supplement thereto), in reliance upon and in conformity with written information furnished to the Company by the
Initial Purchasers expressly for use therein; and to reimburse the Company and the Guarantors, or any such director, officer, employee, agent or controlling person for any legal and other expense reasonably incurred by the Company and the
Guarantors, or any such director, officer, employee, agent or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action. The Company and the Guarantors
hereby acknowledge that the only information that the Initial Purchasers have furnished to the Company and the Guarantors expressly for use in the Disclosure Package or the Offering Memorandum (or any amendment or supplement thereto) are
(A) the names of the Initial Purchasers and (B) the statements set forth in the third and thirteenth paragraphs under the caption “Plan of Distribution” in the Offering Memorandum. The indemnity agreement set forth in this
Section 8(b) shall be in addition to any liabilities that the Initial Purchasers may otherwise have. 
 (c)
Notifications and Other Indemnification Procedures. Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made
against an indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any
indemnified party for contribution or otherwise than under the indemnity agreement contained in this Section 8 or to the extent it is not prejudiced as a proximate result of such failure. In case any such action is brought against any
indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it shall elect, jointly with all other indemnifying
parties similarly notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party;
provided, however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party
and the indemnified party in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties which are different from or additional to those available to the indemnifying party, the
indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the
indemnifying party to such indemnified party of such indemnifying party’s election so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party
under this Section 8 for any legal or other expenses subsequently incurred 

  

 21 

 
by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have employed separate counsel in accordance
with the proviso to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (together with local counsel), approved by the indemnifying party,
representing the indemnified parties who are parties to such action) or (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice
of commencement of the action, in each of which cases the fees and expenses of counsel shall be at the expense of the indemnifying party. 
 (d) Settlements. The indemnifying party under this Section 8 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a
final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time
an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by Section 8(c) hereof, the indemnifying party agrees that it shall be liable for any settlement
of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have
reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry
of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement,
compromise or consent includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such action, suit or proceeding. 
 Section 9. Contribution. If the indemnification provided for in Section 8 is for any reason held to be unavailable to or otherwise
insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified
party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors, on the one hand,
and the Initial Purchasers, on the other hand, from the offering of the Debentures (and the Guarantees thereof) pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, in connection
with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantors, on the one hand, and
the Initial Purchasers, on the other hand, in connection with the offering of the Debentures (and the Guarantees thereof) pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering
of the Debentures (and the Guarantees thereof) pursuant to this Agreement (before deducting expenses) received by the Company and the Guarantors, and the total discounts and commissions received by the Initial Purchasers, in each case as set forth
on the front cover page of the Offering Memorandum bear to the aggregate initial public offering price of the Debentures as set forth on such cover. The relative fault of the Company 

  

 22 

 
and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, shall be determined by reference to, among other things, whether any such
untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors, on the one hand, or the Initial Purchasers, on the other hand, and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 8(c), any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or defending any action or claim. The provisions set forth in Section 8(c) with respect to notice of commencement of any action shall apply if a claim for contribution
is to be made under this Section 9; provided, however, that no additional notice shall be required with respect to any action for which notice has been given under Section 8(c) for purposes of indemnification. 
 The Company, the Guarantors and the Initial Purchasers agree that it would not be just and equitable if contribution pursuant to this
Section 10 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 10. 
 Notwithstanding the provisions of this Section 10, the Initial Purchasers shall not be required to contribute any amount in excess of
the discounts and commissions received by the Initial Purchasers in connection with the Debentures purchased by it and distributed to the public. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 10, each officer and employee and each person, if any, who controls any Initial Purchaser
within the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as that Initial Purchaser, and each director, employee and person, if any, who controls the Company or any Guarantor or an with the meaning of
the Securities Act and the Exchange Act shall have the same rights to contribution as the Company and such Guarantor. 
 Section 10.
Termination of this Agreement. Prior to the Closing Date this Agreement may be terminated by any Initial Purchaser by notice given to the Company if at any time (i) trading or quotation in any of the Company’s securities shall have
been suspended or limited by the Commission or by the Nasdaq National Market, New York Stock Exchange, or trading in securities generally on the New York Stock Exchange or the American Stock Exchange or the Nasdaq National Market shall have been
suspended or limited (other than limitations on hours or numbers of days trading), or minimum or maximum prices shall have been generally established on any of such stock exchanges by the Commission or the National Association of Securities Dealers,
Inc.; (ii) a general banking moratorium shall have been declared by federal or New York authorities; or (iii) there shall have occurred any outbreak or escalation of national or international hostilities or any crisis or calamity, or any
change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in United States’ or international political, financial or economic conditions, as in your
judgment is material and adverse and makes it impracticable or inadvisable to market the Shares in the manner and on the terms described in the Disclosure Package and the Offering Memorandum or to enforce contracts for the sale of securities. Any
termination pursuant to this Section 10 shall be without liability on the part of the Company to the Initial Purchasers. 
  

 23 

 Termination of this Agreement pursuant to this Section 10 shall be without liability
of any party to the other party except as provided in Section 6 hereof. 
 Section 11. Representations and Indemnities to Survive
Delivery. The respective indemnities, agreements, representations, warranties and other statements of the Company and the Guarantors, of their officers and of the Initial Purchasers set forth in or made pursuant to this Agreement will remain in
full force and effect, regardless of any investigation made by or on behalf of the Initial Purchasers, the Company or the Guarantors or any of its or their partners, officers or directors or any controlling person, as the case may be, and will
survive delivery of and payment for the Debentures (and the Guarantees thereof) sold hereunder and any termination of this Agreement. 
 Section 12. Notices. All communications hereunder shall be in writing and shall be mailed, hand delivered or telecopied and confirmed to the parties hereto as follows: 
 If to the Initial Purchasers: 
 Jefferies & Co. Inc. 
 520 Madison Avenue 
 New York, New York 10022 
 Facsimile: (917) 421-1941 
 Attention: General Counsel 
 CIBC World Markets Corp. 
 300 Madison Avenue 
 Third Floor 
 New York, NY 10017 
 Facsimile: (212) 667-6140 
 Attention: General Counsel 
 with a copy to: 
 Latham & Watkins LLP 
 885 Third Avenue 
 New York, New York 10022 
 Facsimile: (212) 751-4864 
 Attention: Robert A. Zuccaro 
 If to the Company: 
 Broadwing Corporation 
 1122 Capital of Texas Highway 
 Austin, Texas 78746 
 Facsimile: (512) 328-7902 
 Attention: General Counsel and Chief Financial Officer 
 Any party hereto may change the address for receipt of communications by giving written notice to the others. 
 Section 13. Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto, and to the benefit of the controlling
persons referred to in Section 8 and Section 9, and in each case their respective successors, and no other person will have any 

  

 24 

 
right or obligation hereunder. The term “successors” shall not include any purchaser of the Debentures as such from the Initial Purchasers
merely by reason of such purchase. 
 Section 14. Partial Unenforceability. The invalidity or unenforceability of any Section,
paragraph or provision of this Agreement shall not affect the validity or enforceability of any other Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid or
unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable. 
 Section 15. Defaulting Initial Purchaser. If any Initial Purchaser shall fail or refuse to purchase Debentures that it has agreed to purchase hereunder on the Closing Date or any Option Closing Date, and the aggregate number of
Debentures which such defaulting Initial Purchaser agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Debentures to be purchased on such date, the other Initial Purchaser shall be obligated to purchase the
Debentures which such defaulting Initial Purchaser agreed but failed or refused to purchase on such date. If any Initial Purchaser shall fail or refuse to purchase Debentures and the aggregate number of Debentures with respect to which such default
occurs exceeds 10% of the aggregate number of Debentures to be purchased on such date, and arrangements satisfactory to the non-defaulting Initial Purchaser and the Company for the purchase of such Debentures are not made within 48 hours after such
default, this Agreement shall terminate without liability of any party to any other party except that the provisions of Sections 4, 6, 8 and 9 hereof shall at all times be effective and shall survive such termination. In any such case either the
non-defaulting Initial Purchaser or the Company shall have the right to postpone the Closing Date or Option Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Offering
Memorandum or any other documents or arrangements may be effected. 
 Section 16. Governing Law Provisions. This Agreement shall be
governed by and construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding arising out of or based upon this Agreement or the
transactions contemplated hereby (“Related Proceedings”) may be instituted in the federal courts of the United States of America located in the Borough of Manhattan in the City of New York or the courts of the State of New York in
each case located in the Borough of Manhattan in the City of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the
enforcement of a judgment of any such court (a “Related Judgment”), as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail
to such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any
suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an
inconvenient forum. 
 With respect to any Related Proceeding, each party irrevocably waives, to the fullest extent permitted
by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment (both before and after judgment) and execution to which it might otherwise be entitled in the Specified Courts, and
with respect to any Related Judgment, each party waives any such immunity in the Specified 

  

 25 

 
Courts or any other court of competent jurisdiction, and will not raise or claim or cause to be pleaded any such immunity at or in respect of any such
Related Proceeding or Related Judgment, including, without limitation, any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended. 
 Section 17. General Provisions. This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral agreements, understandings
and negotiations with respect to the subject matter hereof. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The
Table of Contents and the Section headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement. 
 Each of the parties hereto acknowledges that it is a sophisticated business person who was adequately represented by counsel during
negotiations regarding the provisions hereof, including, without limitation, the indemnification provisions of Section 8 and the contribution provisions of Section 9, and is fully informed regarding said provisions. Each of the parties
hereto further acknowledges that the provisions of Sections 8 and 9 hereto fairly allocate the risks in light of the ability of the parties to investigate the Company and the Guarantors, their affairs and their business in order to assure
that adequate disclosure has been made in the Disclosure Package or the Offering Memorandum (and any amendments and supplements thereto), as required by the Securities Act and the Exchange Act. 
  

 26 

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

			
	 Very truly yours,
 BROADWING CORPORATION

		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   SVP, Co-CEO and GC

 The foregoing Purchase Agreement is hereby confirmed and accepted by each of the Initial
Purchasers in New York, New York as of the date first above written. 
  

			
	JEFFERIES & CO. INC.
		
	By:	 	 /s/ Jonathan Cunningham

		 	 Name: Jonathan Cunningham

		 	 Title:   EVP

  

			
	CIBC WORLD MARKETS CORP.
		
	By:	 	 /s/ Sameer Vasudev

		 	 Name: Sameer Vasudev

		 	 Title:   Executive Director

  

 27 

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

			
	DORSAL NETWORKS, LLC.
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	UNITED CABLE HOLDINGS, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	CORVIS OPERATIONS, INC.
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	CORVIS EQUIPMENT, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	CORVIS GOVERNMENT SOLUTIONS, INC.
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	C III COMMUNICATIONS, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

 28 

			
	BROADWING COMMUNICATIONS, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	BROADWING COMMUNICATIONS REAL ESTATE SERVICES, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	BROADWING COMMUNICATIONS CANADA, LLC
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	BROADWING COMMUNICATIONS HOLDINGS, INC.
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	BROADWING COMMUNICATIONS CORPORATION
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

			
	BROADWING FINANCIAL SERVICES, INC.
		
	By:	 	 /s/ Kim D. Larsen

		 	 Name: Kim D. Larsen

		 	 Title:   VP and GC

  

 29 

 SCHEDULE I 
 GUARANTORS 
 Dorsal Networks, LLC. 
 United Cable Holdings, LLC 
 Corvis Operations, Inc. 
 Corvis Equipment, LLC 
 Corvis Government Solutions, Inc. 
 C III Communications, LLC 
 Broadwing Communications, LLC 
 Broadwing Communications Real Estate Services, LLC 
 Broadwing Communications Canada, LLC 
 Broadwing Communications Holdings, Inc. 
 Broadwing Communications Corporation. 

Broadwing Financial Services, Inc. 

 SCHEDULE II 
 DISCLOSURE PACKAGE 

 SCHEDULE III 
 LIST OF SUBSIDIARIES 
 The Company holds 100% of the voting interests and 97.8% of the total interests of C
III Communications, LLC. 
 The Company holds 66.67% of the total interests of 650 Townsend Facility Company, LLC. 
 The Company holds 49% of the total interests of Acme Gratings, LLC. 

 SCHEDULE IV 
 WARRANTS, OPTIONS AND OTHER CONVERTIBLE SECURITIES 
 Warrants to purchase 2,926,684 shares of common stock at
an exercise price of $22.13 will be adjusted as a result of the issuance and sale of the Debentures to the Initial Purchasers. 

 SCHEDULE V 
  

				
	 Initial Purchasers
	  	Aggregate Principal
Amount of Firm
Debentures to be
Purchased
	 Jefferies & Company, Inc.
	  	$	112,500,000
	 CIBC World Markets Corp
	  	 	37,500,000
	 Total
	  	$	150,000,000
		  	 	 

 EXHIBIT A 
 OPINION OF MAYER BROWN 
 1. The Company and each of the Guarantors is a corporation or limited
liability company, as applicable, duly organized, validly existing and in good standing under the laws of the State of Delaware. 
 2. The
Company has all requisite power and authority to enter into and perform the Purchase Agreement, the Indenture, the Debentures and the Registration Rights Agreement dated as of the date hereof (together, the “Company Transaction
Documents”), to issue, sell and deliver the Debentures pursuant to the Company Transaction Documents and to carry out and perform its obligations under, and to consummate the transactions contemplated by, the Company Transaction Documents.

 3. Each Guarantor has all requisite power and authority to enter into and perform the Purchase Agreement, the Indenture, the Guarantees
and the Registration Rights Agreement dated as of the date hereof (together, the “Guarantor Transaction Documents”), to issue, sell and deliver the Guarantees pursuant to the Guarantor Transaction Documents and to carry out and perform its
obligations under, and to consummate the transactions contemplated by, the Guarantor Transaction Documents. 
 4. All corporate action on the
part of the Company, its directors and its stockholders necessary for the authorization, execution and delivery by the Company of the Company Transaction Documents, the authorization, issuance, sale and delivery of the Debentures pursuant to the
Purchase Agreement and the consummation by the Company of the transactions contemplated by the Company Transaction Documents has been duly taken. The Company Transaction Documents have been duly and validly executed and delivered by the Company and
constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as set forth in such opinion. 
 5. All corporate action on the part of each Guarantor, its directors and its stockholders necessary for the authorization, execution and delivery by such Guarantor of the Guarantor Transaction Documents, the
authorization, issuance, sale and delivery of the Guarantees pursuant to the Purchase Agreement and the consummation by such Guarantor of the transactions contemplated by the Guarantor Transaction Documents has been duly taken. The Guarantor
Transaction Documents have been duly and validly executed and delivered by each Guarantor and constitute the legal, valid and binding obligations of such Guarantor, enforceable against such Guarantor in accordance with their terms, except as set
forth in such opinion. 
 6. To our knowledge, the Company has filed all reports (the “SEC Documents”) required to be filed by it
under Sections 13(a) and 15(d) of the Exchange Act of 1934, as amended (the “Exchange Act”), in the twelve months ending on the date hereof. As of their respective filing dates, the SEC Documents complied in all material respects as to
form with the requirements of the Exchange Act and the rules and regulations of the Securities and Exchange Commission. 
 7. The Conversion
Shares have been duly authorized and reserved by all necessary corporate action of the Company, and the Conversion Shares, if any, issued upon due 

  

 A-1 

 
conversion of the Debentures in accordance with the terms of the Debentures and the Indenture would, if issued today, be validly issued, fully paid and
nonassessable and free of preemptive rights arising under the Company’s certificate of incorporation, bylaws or the DGCL. 
 8. The
Company is not an Investment Company within the meaning of the Investment Company Act of 1940, as amended. 
 9. The statements in the
Disclosure Package and the Offering Memorandum under the caption “Description of Certain Indebtedness” are accurate summaries in all material respects. 
 10. The statements in the Disclosure Package and the Offering Memorandum under the caption “Certain United States Federal Income Tax Consequences,” insofar as they purport to summarize certain provisions of
the statutes and regulations referred to therein, are accurate summaries in all material respects. 
 11. No consent, license, permit, waiver
approval or authorization of, or designation, declaration, registration or filing with, the Securities and Exchange Commission or any state securities regulatory authority is required in connection with the offer, sale, issuance or delivery of the
Debentures and the Guarantees, other than the filing of the shelf registration statement with respect to the Registration Rights Agreement. 
  

 A-2 

 EXHIBIT B 
 May __, 2006 
 Jefferies & Co., Inc. 
 520 Madison Avenue 
 New York, New York 10022 
 CIBC World Markets Corp. 
 300 Madison Avenue, 3rd Floor 
 New York, New York 10017 
  

	RE:	Broadwing Corporation (the “Company”) 

 Ladies and Gentlemen: 
 The undersigned is an owner of record or beneficially of certain shares (the
“Shares”) of the Company’s common stock, $.01 par value per share (the “Common Stock”) or securities convertible into or exchangeable or exercisable for Common Stock. The Company proposes to carry out an offering (the
“Offering”) of approximately $150,000,000 aggregate principal amount of its Convertible Senior Debentures due 2026, which will be convertible into shares of Common Stock, for which you will act as the initial purchasers. The
undersigned recognizes that the Offering will be of benefit to the undersigned and will benefit the Company. The undersigned acknowledges that you are relying on the representations and agreements of the undersigned contained in this letter in
carrying out the Offering and in entering into the purchase agreement with the Company and certain of its subsidiaries with respect to the Offering. 
 In consideration of the foregoing, the undersigned hereby agrees that the undersigned will not (and will cause any spouse or immediate family member of the spouse or the undersigned living in the undersigned’s
household not to), without the prior written consent of Jefferies & Company, Inc. (which consent may be withheld in its sole discretion), directly or indirectly, sell, offer, contract or grant any option to sell (including without
limitation any short sale), pledge, transfer, establish an open “put equivalent position” within the meaning of Rule 16a-1(h) under the Securities Exchange Act of 1934, as amended, or otherwise dispose of any Shares, options or warrants to
acquire Shares, or securities exchangeable or exercisable for or convertible into Shares currently or hereafter owned either of record or beneficially (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) by the
undersigned (or such spouse or family member), or publicly announce an intention to do any of the foregoing, for a period commencing on the date hereof and continuing through the close of trading on the date 30 days after the date on which the shelf
registration statement filed by the Company pursuant to Rule 415 under the Securities Act of 1933, as amended, becomes effective covering the registration and resale of the debentures, shares issuable upon conversion of the debentures and the
guarantees, effective. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of Shares or securities convertible into or exchangeable or
exercisable for Shares held by the undersigned except in compliance with the foregoing restrictions. 
 Notwithstanding the foregoing, the
undersigned may transfer any Shares or securities convertible into or exchangeable or exercisable for the Shares (i) for the purpose of satisfying any tax liabilities that accrue upon the vesting of restricted stock issued by the Company
(ii) related to the sale or other disposition of Common Stock or other securities pursuant to the terms of a pre-existing trading plan, as in effect on the date hereof, established under Rule 10b5-1 under the Securities Exchange Act of 1934, as
amended, and (iii) either (y) during the undersigned’s lifetime to his or her immediate family or to a trust if the beneficiaries of such trust are exclusively the undersigned and/or a member or members of his or 

  

 B-1 

 
her immediate family or (z) upon death by will or intestacy; provided, however, that prior to any such transfer pursuant to this clause (iii) each
transferee shall execute an agreement substantially identical to this agreement and which shall be satisfactory to Jefferies & Company, Inc., pursuant to which each transferee shall agree to receive and hold such Shares, or securities
convertible into or exchangeable or exercisable for the Shares, subject to the provisions hereof, and there shall be no further transfer by any such transferee except in accordance with the provisions hereof. For purposes of clause (iii) above,
“immediate family” shall mean spouse, lineal descendant, father, mother, brother, sister or domestic partner of the transferor, whether by law or otherwise, or any grandparent, mother-in-law, father-in-law, daughter-in-law, brother-in-law,
stepchild, grandchild or step-grandchild, uncle, aunt, niece or nephew of the transferor, and which shall include adoptive relationships. 
 Notwithstanding anything to the contrary contained herein, if the Offering is not completed by May 26, 2006, this agreement shall automatically terminate. 
  

									
	  	 		 	
	Printed Name of Holder	 		 	
					
		 		 		 	 By:
	 	  
		 		 		 		 	 Signature

	  	 		 		 	
	Printed Name of Person Signing	 		 		 	

  

 B-2

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