Document:

EX-10.2

 Exhibit 10.2 

EXECUTION COPY 
 LEASE 

BETWEEN 
 SCIENCE PARK
DEVELOPMENT CORPORATION 
 AND 

PRECIPIO, INC. 

DATE:     July 11, 2017 

 EXECUTION COPY 
  

 TABLE OF CONTENTS 

 

							
	 Article No.
	 	 Description
	  	Page	 
	 ARTICLE 1.
	 	LEASED PREMISES	  	 	4	 
	 ARTICLE 2.
	 	TERM	  	 	5	 
	 ARTICLE 3.
	 	RENT	  	 	6	 
	 ARTICLE 4.
	 	TAXES	  	 	12	 
	 ARTICLE 5.
	 	TENANT’S USE OF LEASED PREMISES	  	 	12	 
	 ARTICLE 6.
	 	ALTERATIONS	  	 	13	 
	 ARTICLE 7.
	 	REPAIRS	  	 	14	 
	 ARTICLE 8.
	 	COMPLIANCE WITH LAWS; INCREASED INSURANCE RATES; ENVIRONMENTAL LAWS	  	 	15	 
	 ARTICLE 9.
	 	FLOOR LOAD; MACHINERY AND EQUIPMENT	  	 	18	 
	 ARTICLE 10.
	 	TENANT’S OBLIGATIONS TO LANDLORD’S LENDERS	  	 	18	 
	 ARTICLE 11.
	 	LIMITATIONS ON LANDLORD’S LIABILITY	  	 	19	 
	 ARTICLE 12.
	 	TENANT’S OBLIGATION TO PROTECT LANDLORD AND LANDLORD’S LENDERS	  	 	20	 
	 ARTICLE 13.
	 	FIRE AND OTHER CASUALTY	  	 	21	 
	 ARTICLE 14.
	 	TAKING BY GOVERNMENTAL AUTHORITY	  	 	22	 
	 ARTICLE 15.
	 	TENANT’S RIGHT TO ENCUMBER, ASSIGN, OR SUBLEASE	  	 	23	 
	 ARTICLE 16.
	 	ACCESS TO LEASED PREMISES	  	 	24	 
	 ARTICLE 17.
	 	DEFAULT AND TERMINATION	  	 	25	 
	 ARTICLE 18.
	 	LANDLORD’S PERFORMANCE ON TENANT’S BEHALF	  	 	27	 
	 ARTICLE 19.
	 	TENANT’S QUIET ENJOYMENT OF THE LEASED PREMISES	  	 	28	 
	 ARTICLE 20.
	 	NO WAIVER BY LANDLORD	  	 	28	 
	 ARTICLE 21.
	 	INABILITY TO PERFORM	  	 	28	 
	 ARTICLE 22.
	 	NOTICES AND OTHER COMMUNICATIONS	  	 	29	 
	 ARTICLE 23.
	 	RULES AND REGULATIONS	  	 	30	 
	 ARTICLE 24.
	 	INTENTIONALLY OMITTED	  	 	30	 
	 ARTICLE 25.
	 	INSURANCE	  	 	30	 
	 ARTICLE 26.
	 	SERVICES PROVIDED BY LANDLORD	  	 	32	 
	 ARTICLE 27.
	 	ADDITIONAL OBLIGATIONS OF TENANT	  	 	33	 
	 ARTICLE 28.
	 	SIGNS	  	 	34	 
	 ARTICLE 29.
	 	BROKERAGE	  	 	34	 
	 ARTICLE 30.
	 	NOTICE OF LEASE	  	 	34	 
	 ARTICLE 31.
	 	SURRENDERING OF LEASED PREMISES	  	 	34	 
	 ARTICLE 32.
	 	ADDITIONAL OBLIGATIONS OF TENANT	  	 	35	 
	 ARTICLE 33.
	 	TENANT’S WAIVER OF RIGHTS	  	 	35	 
	 ARTICLE 34.
	 	EFFECT OF WRITTEN LEASE AGREEMENT	  	 	36	 
	 ARTICLE 34A.
	 	OPTION TO EXTEND; EXPANSION OF LEASED PREMISES	  	 	36	 
	 ARTICLE 35.
	 	SECURITY DEPOSIT	  	 	37	 
	 ARTICLE 36.
	 	INTERPRETATION OF LEASE	  	 	39	 

  

 EXECUTION COPY 
  

 Exhibits 
  

			
	Exhibit A	  	Legal Property Description – Building 4, 375 Winchester Avenue
	Exhibit B	  	Cleaning Services
	Exhibit C	  	Holidays
	Exhibit D	  	Additional Services Contacts
		
	Schedules	  	
		
	A	  	Floor Plan
	B	  	Tenant’s Work
	C	  	Tenant’s Equipment
	D	  	Chemicals and Hazardous Materials
	E	  	Rules and Regulations

  

 EXECUTION COPY 
  

 This LEASE (this “Lease”) is made and entered into as of the 11th day of July, 2017 by and between SCIENCE PARK DEVELOPMENT CORPORATION, a Connecticut corporation having a principal place of business at 5 Science Park, New Haven, Connecticut 06511 (herein
referred to as “Landlord”) and Precipio, Inc., a Delaware corporation, having a principal place of business at 4 Science Park, 3rd Floor, New Haven, Connecticut 06511
(herein referred to as “Tenant”). 
 W I T N E S S E T H: 

Landlord warrants and represents to Tenant that it is a corporation organized and in good standing under the laws of the State of Connecticut
and that it has full right, power and authority to enter into this Lease in the manner hereinafter subscribed. Tenant warrants and represents to Landlord that it is a limited liability company organized and in good standing under the laws of the
State of Delaware and that it has full right, power and authority to enter into this Lease in the manner hereinafter subscribed. Based upon the foregoing, Landlord hereby Leases to Tenant, and Tenant hereby hires from Landlord, the Leased Premises
as hereinafter defined, for the term, rentals, and upon other conditions and covenants as follows: 
 ARTICLE 1. LEASED PREMISES 

1.1. Leased Premises. 

(a) Landlord is the owner of the real property located at Science Park, New Haven, Connecticut as described on Exhibit A attached hereto (the
“Property”). The Tenant shall lease from Landlord the entire third floor of Building 4, consisting of 7,630 rentable square feet, located on the Property (“Building 4”), as shown on the floor plan attached hereto as
Schedule A, (the “Leased Premises”). Tenant shall have exclusive use of the Leased Premises. 
 (b) Tenant’s
rights under this Lease shall include, in common with other tenants of Building 4 or buildings within which the Leased Premises may be located from time to time, use of the land and the facilities, accesses, hallways, common restrooms, elevators,
stairways, lobbies, roadways, sidewalks, and like service and scenic improvements and grounds (with the exception of parking areas), which are intended for the common use of tenants of such building or buildings (“Common
Facilities”). 
 1.2. Parking. The rental of the Leased Premises will include the use of up to twenty five
(25) parking spaces (“Tenant’s Parking Spaces”), in parking lots in common with other tenants and in locations in reasonable proximity to Building 4 designated by Landlord. 

  
 4 

 EXECUTION COPY 
  

 ARTICLE 2. TERM 

2.1. Term; Rent Commencement Date. The term of this Lease (the “Term”) shall commence on January 1, 2017
(the “Rent Commencement Date”) and Landlord agrees to deliver to Tenant, and Tenant agrees to accept, exclusive possession of the Leased Premises on said date in its “as-is”
condition. Unless sooner cancelled, terminated or extended in accordance with the terms of this Lease, the Term will expire with respect to the entire Leased Premises on December 31, 2021 (the “Expiration Date”). 

2.2. Tenant Work. Tenant, at its sole cost, shall be responsible for any construction and alterations within the Leased Premises
together with the installation of its furniture, fixtures and business equipment, including telecommunications cabling and equipment, security systems, and any other ancillary systems it may require as set forth on Schedule B (the
“Tenant’s Work”), at its sole cost and expense, and in a good and workmanlike manner in accordance with all of its obligations under this Lease including without limitation, Article 6 of this Lease. Tenant shall furnish
and install any and all necessary trade fixtures, equipment and other items necessary for the proper conduct of Tenant’s business subject to the reasonable approval of the Landlord, Tenant’s work set forth on Schedule B is approved
by Landlord pursuant to Article 6.1 of this Lease. Tenant shall have access to the Leased Premises upon execution of this Lease for purposes of performing Tenant’s Work and preparing the Leased Premises for Tenant’s operations. All of the
foregoing work and all work Tenant may undertake pursuant to Article 6 of this Lease shall be done in accordance with all laws, rules, regulations and ordinances applicable thereto, including, if necessary, compliance with the Americans With
Disabilities Act, as amended from time to time, and the acquisition by Tenant of a Building Permit from the municipal department having jurisdiction, if required. In no event shall Landlord be required to provide or install any trade fixtures or
equipment. Tenant shall comply and cause all of its contractors to comply with the provisions of Article 6 of this Lease. 
 Landlord shall continue to
maintain the existing computer-based, card reader access system to the elevator serving the Leased Premises that will provide a log of access times to the Leased Premises and permit Tenant to instruct Landlord to disable individual access cards from
providing access to the Leased Premises (the “Tenant Floor Security System). 
 The Landlord will provide all required operating cards for the
Tenant Floor Security System. The Tenant Floor Security System shall be accessed by the Tenant and Landlord solely for the Tenant’s floor. It will be the responsibility of the Tenant to keep track of all
key-cards issued at the request of Tenant. All key-cards must be returned to the Landlord upon termination of the Lease or a $15 penalty per item charge will be deducted
from the security deposit held by Landlord. 
 2.3 Condition of Leased Premises. Tenant has inspected and is familiar with the
condition of the Leased Premises and Tenant expressly accepts delivery and possession of the Leased Premises in its “as-is” condition and repair and with “all faults.” Tenant relies on no
warranties or representations, express or implied, of Landlord or any agent or other party associated with Landlord as to the condition or repair, or as to taxes or any other matter relating to the Leased Premises, except as otherwise expressly
provided in this Lease. 

  
 5 

 EXECUTION COPY 
  

 ARTICLE 3. RENT 

3.1. Base Rent. 
 A. As
used herein, the term “Lease Year” shall mean the 12-month period commencing on the Rent Commencement Date and each succeeding 12-month period. During
the initial Term, Tenant shall pay to Landlord a base rent (“Base Rent”), as follows: 
  

																	
	 Period
	  	Months
of Term	 	  	Base Rent
Per Square
Foot	 	  	Total Base
Rent for
Period	 	  	Monthly
Base Rent	 
	 January 1, 2017 – December 31, 2017
	  	 	12	 	  	$	22.57	 	  	$	172,209.10	 	  	$	14,350.76	 
	 January 1, 2018 – May 31, 2018
	  	 	5	 	  	$	22.57	 	  	$	71,753.79	 	  	$	14,350.76	 
	 June, 2018
	  	 	1	 	  	$	22.37	 	  	$	14,223.59	 	  	$	14,223.59	 
	 July 1, 2018 – December 31, 2018
	  	 	6	 	  	$	21.00	 	  	$	80,115.00	 	  	$	13,352.50	 
	 January 1, 2019 – December 31, 2019
	  	 	12	 	  	$	22.00	 	  	$	167,860.00	 	  	$	13,988.33	 
	 January 1, 2020 – December 31, 2020
	  	 	12	 	  	 	22.50	 	  	$	171,675.00	 	  	$	14,306.25	 
	 January 1, 2021 – December 31, 2021
	  	 	12	 	  	$	23.00	 	  	$	175,490.00	 	  	$	14,624.17	 

 B. All Base Rent and Additional Rent (as defined below) shall be payable each month, in advance, by not later
than the first day of each month. 
 3.2. Additional Rent. In addition to Base Rent, Tenant shall pay to Landlord additional
rent (“Additional Rent”) consisting of all other sums of money as shall become due and payable by Tenant as expressly set forth in this Lease, including without limitation, amounts due and payable under this Section, for default in
the payment of which Landlord shall have the same remedies as for a default in the payment of Base Rent. 
 A. Definitions. For the
purposes of this Agreement, the following terms shall have the meanings indicated: 
 “Base Operating Expense Year” shall
mean the calendar year 2016. 
 “Base Property Tax Year” shall mean the calendar year 2016. 

“Base Operating Expenses” shall mean the amount of Operating Expenses attributable to the Base Operating Expense Year. 

  
 6 

 EXECUTION COPY 
  

 “Base Property Taxes” shall mean the amount of Property Taxes attributable
to the Base Property Tax Year. 
 “Operating Expenses” shall mean all costs and expenses paid or incurred by or on behalf
of Landlord: (i) in providing HVAC service to the Leased Premises; and (ii) with respect to the ownership, maintenance, policing, repair, replacement, restoration, management, insurance, security and/or operation of Building 4 and any
parking areas serving Building 4 or any part thereof, and are herein deemed to include, but not necessarily be limited to the following: 
  

	 	(a)	the cost of all personnel, including wages, salaries and other compensation and fringe benefits, social security taxes, payroll taxes, unemployment taxes, and any other such taxes; 

 

	 	(b)	management fees that shall in no event exceed the reasonable and customary management fees charged from time to time for comparable buildings in the greater New Haven Market; 

 

	 	(c)	the cost of all utilities (excluding electricity but including gas, water, sewer and other utilities), fuel charges and related costs and services attributable to any portion of Building 4, including, but not limited
to, all such utilities (excluding electricity) used or consumed in connection with the heating, ventilating, air conditioning, and water heating within Building 4; 

 

	 	(d)	all office and janitorial supplies and similar materials used in the operation of Building 4; 

  

	 	(e)	the cost of all services incurred in the operation of Building 4 (and all service agreements and maintenance contracts for same), including, but not limited to, protection and security service, window cleaning, common
area cleaning service, plant and landscaping service, including plantings and re-plantings, elevator, HVAC maintenance and repair, ice and snow removal, and trash removal; 

 

	 	(f)	insurance, including, but not limited to, fire (including, without limitation, endorsements for extended coverage, vandalism and malicious mischief, and theft and mysterious disappearance), public liability, rental
interruption, boiler, water damage, sprinkler leakage, workers’ compensation. health, accident and group insurance; and 

  

	 	(g)	the cost of all maintenance, repairs, replacements and restorations, whether performed pursuant to obligations under leases, as a result of fire or other casualty or otherwise, including, but not limited to, all
maintenance, repairs and replacements (structural or non-structural) to the roof, inundation, exterior and interior walls, floors and covering of same, replacement of plate, and other window glass, repair and
replacement of all heating and cooling units and systems, repair and replacement of any portion of the sprinkler system, restrooms and all plumbing facilities, utility conduits, pumping stations and force mains, signs, elevators, sidewalks and
steps, all building service equipment, lighting units and fixtures including bulbs and tubes, all other building fixtures and equipment, and all other maintenance, repairs, replacements and restorations of Building 4, all exclusive of items which
are the direct responsibility of any other tenant. 

  
 7 

 EXECUTION COPY 
  

 Notwithstanding anything contained herein to the contrary, Landlord shall with respect to
(a) replacement of the roof of Building 4 during the Term and (b) capital expenditures for the purpose of complying with new legal requirements first in effect after the date of this Lease or that will effect savings in Operating Expenses:
(i) amortize over the useful life of the applicable expenditure (as reasonably determined by Landlord in accordance with the U.S. Internal Revenue Code and the regulations thereunder in effect from time to time (“IRS Rules”)),
together with interest at Landlord’s cost of funds, any expenditure which Landlord determines should be capitalized (rather than immediately expensed) in accordance with applicable IRS Rules, and (ii) include in Operating Expenses (on an
annual basis commencing with the year of such expenditure) only the amortized portion of any such expenditure. 
 Notwithstanding anything
to the contrary contained herein, Operating Expenses shall in all cases exclude: 
  

	 	(1)	Items which are the direct responsibility of any tenant or are caused by the intentional or negligent acts of any such tenant, its agents or licensees and the costs of which are recovered from such tenant;

  

	 	(2)	Expenses of alterations to the Leased Premises or Building 4 for the accommodation of a specific tenant or tenants, which expenses shall be borne by such tenants; 

 

	 	(3)	All costs of leasing space in Building 4 including office expenditures, legal fees and broker’s commissions; 

  

	 	(4)	Costs actually covered by Landlord’s insurance or other manner of reimbursement to the extent that payment is actually received by Landlord, but not excluding the amount of any deductible; 

 

	 	(5)	Repairs or other work resulting from damage by fire, windstorm or other casualty to the extent covered by insurance in force or required to be carried by Landlord hereunder, or by the exercise of eminent domain;

  

	 	(6)	Leasing commissions, attorney’s fees, costs and disbursements and other expenses incurred in connection with negotiations or disputes with tenants, other occupants or prospective tenants or other occupants;

  

	 	(7)	Landlord’s cost of utilities (other than electricity) and other services that are sold to tenants and for which Landlord is entitled to be reimbursed by tenants as an additional charge or rental over and above the
Base Rent and Operating Expenses payable under the lease with such tenant; 

  

	 	(8)	Depreciation and amortization of any kind, except as otherwise provided herein; 

  

	 	(9)	Interest on debt or amortization payments on any mortgage or mortgages and/or rentals under any ground lease or other underlying leases; 

 

	 	(10)	costs incurred in connection with the sale, financing or refinancing of the Buildings; 

  

	 	(11)	fines, interest and penalties incurred due to the late payment of Taxes or Operating Expenses; 

  

	 	(12)	organizational expenses associated with the creation and operation of the entity which constitutes Landlord; 

  
 8 

 EXECUTION COPY 
  

	 	(13)	sums paid to subsidiaries or other affiliates of Landlord for services on or to the Property, Buildings and/or Leased Premises, but only to the extent that the costs of such services exceed the competitive cost for such
services rendered by persons or entities of similar skill, competence and experience; 

  

	 	(14)	wages, salaries, fees, and fringe benefits paid to executive personnel or officers or partners or other corporate personnel of Landlord; 

 

	 	(15)	the cost or expense of any services or benefits provided generally to other tenants in the Buildings and not provided or available to Tenant; 

 

	 	(16)	expenses for the replacement of any item covered under warranty, unless Landlord has not received payment under such warranty; 

  

	 	(17)	any cost or expense related to removal, cleaning, abatement or remediation of “hazardous materials” in or about the Buildings, Common Area or Property, including, without limitation, hazardous substances in
the ground water or soil; 

  

	 	(18)	all costs of purchasing or leasing sculptures, paintings or other works or objects of art; 

  

	 	(19)	all bad debt loss, rent loss, or reserves for bad debt or rent loss; and 

  

	 	(20)	all capital expenditures, except as expressly permitted above. 

 “Property
Taxes” shall mean all real property taxes and assessments, water and sewer taxes and assessments, and any and all other governmental levies, taxes or charges, general or special, ordinary or extraordinary, unforeseen as well as foreseen,
of any kind of nature whatsoever, which may be assessed or imposed from time to time during any part of the Term by the City of New Haven and/or any other governmental taxing authority, upon the Property, Building 4 and/or the parking lot(s) from
time to time serving Building 4; provided, however, that Property Taxes shall not include any transfer, excise, income or corporate franchise tax levied on Landlord. If, due to a future change in the method of taxation or in the taxing authority, a
tax or governmental imposition, however designated (including, without limitation, any tax measured or payable with respect to income, profits, rents or other charges received by Landlord and levied against Landlord, the Property and/or Building 4)
shall be levied against Landlord, the Property and/or Building 4 in substitution, in whole or in part, or as an addition to or in lieu of any Property Taxes, then such tax or governmental imposition shall be deemed to be included within the
definition of the term “Property Taxes” for the purposes hereof. 
 “Tenant’s Proportionate Share” shall
mean that fraction, the numerator of which is the number of rentable square feet of floor space in the Premises as set forth in Article I. Premises, and the denominator of which (the “Denominator”) is the average of the total
rentable square feet of floor space in Building 4 actually under lease to tenants during the calendar year in question (as such number is determined by leases, whether verbal or in writing, and pursuant to the terms of which leases rent has
commenced to be payable), (said average being referred to as the “Average Occupancy Figure”). Notwithstanding the foregoing, in the event that the Average Occupancy Figure is less than ninety five percent (95%) of the total rentable
square footage in Building 4 during the Base Operating Expense Year or any other calendar year, then in such event (i) the Denominator described hereinabove shall be then established during such period in question at ninety five percent (95%)
of the total rentable square footage in Building 4, and (ii) those components of Operating Expenses which relate to and are incurred as a consequence of Building 4 tenant use and occupancy (including building maintenance and repair, janitorial
and cleaning expenses. building management fees and costs and building tenant electric expenses) shall be increased on a pro rata basis from the actual levels at which they are incurred during any given calendar year in question to the levels at
which they would have been incurred had the Average Occupancy Figure been ninety five percent (95%) of the total square footage in Building 4 during the calendar year in question 

  
 9 

 EXECUTION COPY 
  

 B. Expense and Tax Increases. In addition to the Base Rent, Tenant shall pay to
Landlord, as additional rent, as hereinafter provided, Tenant’s Proportionate Share of (i) increases in Operating Expenses over the Base Operating Expenses, and (ii) increases in Property Taxes over the Base Property Taxes
(collectively referred to as the “Expense and Tax Increases”). Prior to the end of the Base Operating Expense Year, and in advance of each calendar year thereafter during the Term, Landlord shall furnish Tenant with an estimate
(which estimate may be changed by Landlord from time to time) of Tenant’s Proportionate Share of the Expense and Tax Increases for the ensuing calendar year (or portion thereof). Commencing with the monthly installment of Base Rent payable for
January, 2012, and thereafter on the first (1st) day of each month during the Term, Tenant shall pay to Landlord one-twelfth (1/12th) of the amount of Landlord’s then current estimate of Expense and Tax
Increases. After the end of each calendar year following the Base Operating Expense Year and after the end of the Term, Landlord shall submit to Tenant a statement, prepared by Landlord, of the actual Expense and Tax Increases for the preceding
calendar year (or partial calendar year in the event the Term shall end on a date other than a December 31st), and the figures used for computing Tenant’s Proportionate Share for the
preceding calendar year, and if Tenant’s Proportionate Share of Expense and Tax Increases so stated for such period is (i) more than the amount paid for such period, Tenant shall pay to Landlord the deficiency within thirty (30) days
after submission of such statement, or (ii) less than the amount paid for such period, at Landlord’s sole election, Tenant shall be entitled to a credit in the amount of such excess against amounts next coming due under this Paragraph or
Landlord shall refund the amount of such overpayment to Tenant (or a refund of such excess in the case of the end of the term of this Lease). Any such adjustment shall survive the expiration or earlier termination of the Term. If Landlord shall
furnish such estimate subsequent to the commencement of any such calendar year, then, until the first (1st) day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of
each month an amount equal to Tenant’s monthly payment with respect to Tenant’s Proportionate Share of Expense and Tax Increases for the last month of the preceding calendar year. 

3.3. Available Abatements of Real Property Taxes. Tenant, at Tenant’s reasonable expense, shall use reasonable commercial
efforts to cooperate with any efforts by Landlord to obtain the benefit of any abatements of Property Taxes that may be available as a result of the Tenant’s occupancy of the Leased Premises (“Property Tax Abatements”). In the
event any such Property Tax Abatements are secured, Tenant shall cooperate with and assist Landlord so as to ensure that the benefit of all such Property Tax Abatements inures to the sole benefit of Landlord. 

  
 10 

 EXECUTION COPY 
  

 3.4. Electricity. On or before the first day of each month together with
the Base Rent and other regularly recurring monthly payments of Additional Rent, Tenant shall pay to Landlord the fixed amounts during each applicable period as follows: 
  

													
	 Period
	  	Months of
Term	 	  	Annual
Amount	 	  	Monthly
Installment
Amount	 
	 January 1, 2017 – December 31, 2017
	  	 	1-12	 	  	$	30,520.00	 	  	$	2,543.33	 
	 January 1, 2018 – December 31, 2018
	  	 	13-24	 	  	$	31,130.40	 	  	$	2,594.20	 
	 January 1, 2019 – December 31, 2019
	  	 	25-36	 	  	$	31,753.01	 	  	$	2,646.08	 
	 January 1, 2020 – December 31, 2020
	  	 	37-48	 	  	$	32,388.07	 	  	$	2,699.01	 
	 January 1, 2021 – December 31, 2021
	  	 	49-60	 	  	$	33,035.83	 	  	$	2,752.99	 

 3.5. Absolute Obligation to Pay; No Set-Off.
Tenant’s obligation to make full and prompt payment of all Base Rent and Additional Rent when owed under the terms of this Lease is absolute. All Base Rent and Additional Rent shall be paid without
set-off, withdrawal or deduction of any nature. 
 3.6. Partial Payments. Any payment
of Base Rent and/or Additional Rent which is less than the amount then due and owing to Landlord will be considered a payment against the oldest outstanding rental obligation and Landlord may accept such payment without affecting its rights to
collect the balance owed. 
 3.7. Interest on Late Payments of Base Rent, Additional Rent or Other Amounts Due. Any
rent or other amount which is owed by Tenant to Landlord under this Lease and which is not paid within ten (10) days of the date when due shall carry interest at an annual rate (the “Default Rate”) equal to the lesser of
(i) the highest rate allowed by law from the date which is ten (10) days after the date such Base Rent, Additional Rent or other amount was due until the date of payment, and (ii) eighteen percent (18%) per annum. 

3.8. Bookkeeping and Audits. Landlord shall maintain books and records respecting gas, electricity, Operating Expenses and Taxes
(as defined in Article 4) and determine the same in accordance with sound accounting and management practices, consistently applied. Tenant or its representative shall have the right to examine those books and records of Landlord and any managing
agent reasonably necessary for purposes of auditing expenditures for gas, electricity, Operating Expenses and Taxes in question. Such examination shall take place during normal business hours at the place or places where such records are normally
kept. Each Annual Operating Expense Statement rendered to Tenant shall be considered final, unless Tenant has given written notice to Landlord of its intention to audit the books and records of Landlord, which notice must be given within sixty
(60) days following Tenant’s receipt of such Annual Operating Expense Statement. In the event that Landlord and Tenant are unable to resolve the dispute within seventy-five (75) days following Landlord’s granting Tenant access to
such books and records of the Landlord, then such dispute shall be submitted to an independent certified public accounting firm selected by Landlord, subject to Tenant’s reasonable approval of such firm, which approval shall not be unreasonably
withheld or delayed. The certification by such independent certified public accounting firm as to the proper amount shall be final and conclusive as between Landlord and Tenant. Tenant shall promptly pay the fees and costs of such independent
certified public accounting firm unless such certification determines that Tenant was overbilled by more than two (2%) percent. Pending resolution of any such exceptions in the foregoing manner, Tenant shall continue paying, without prejudice to
Tenant’s position, Tenant’s Proportionate Share of gas, electricity, Operating Expenses and Taxes paid or incurred during the applicable period in the amounts determined by Landlord, subject to adjustment after any such exceptions are
resolved. 

  
 11 

 EXECUTION COPY 
  

 3.9. Survival. The rights, obligations and liabilities of Landlord and Tenant
under this Article 3 shall survive the expiration or earlier termination of this Lease for any reason. 
 ARTICLE 4. TAXES 

4.1. Personal Property Taxes. Tenant shall be solely responsible for and pay within the time provided by law all taxes and
assessments imposed on its inventory, furniture, trade fixtures, apparatus, equipment and any other of Tenant’s personal or other property. 

4.2. Other Taxes and License Fees. Tenant shall pay before delinquency all license and permit fees and taxes that may be imposed
upon the business of Tenant on the Leased Premises. 
 4.3. Survival. The rights, obligations and liabilities of Landlord and
Tenant under this Article 4 shall survive the expiration or earlier termination of this Lease for any reason. 
 ARTICLE 5. TENANT’S
USE OF LEASED PREMISES 
 5.1. Use of Leased Premises. The Leased Premises will be used by Tenant for research, office and
laboratory purposes only and for purposes incidental thereto. Tenant shall not use or occupy, nor permit the use nor occupancy of, the Leased Premises or any portion thereof for any of the following purposes: retail sales to the general public; the
development, production or sale of pornographic materials; operation or promotion of a gambling establishment; or any use which creates fire, explosive or other similar hazard. The Tenant and any of its subtenants shall at all times and in all
respects comply with all local, state and federal laws, ordinances, regulations and orders relating to land use, industrial hygiene, environmental (including, but not limited to the Environmental Laws as defined in Section 8.5) or similar laws,
including the use, analysis, generation, manufacture, storage, disposal or transportation of Hazardous Materials as defined in Section 8.4. Landlord represents that research, office and laboratory use is a permitted use of the Leased Premises
under applicable zoning laws, rules and regulations. 

  
 12 

 EXECUTION COPY 
  

 ARTICLE 6. ALTERATIONS 

6.1. Tenant May Not Make Alterations or Improvements. Tenant shall not make any alterations, additions or improvements in or to
the Leased Premises except with Landlord’s prior written consent, which consent will not be unreasonably withheld. Without limiting the generality of the foregoing, it shall not be unreasonable for Landlord to withhold its consent or require
modifications to the design or installation of any mechanical, electrical or other systems which interconnect to or could affect or be affected by mechanical, electrical, HVAC or other Building 4 systems. 

6.2. Improvements to Become Property of Landlord. All additions and other improvements installed in the Leased Premises at any
time during the Term, either by Tenant or by Landlord on Tenant’s behalf, shall become the property of Landlord and shall be surrendered with the Leased Premises upon the Expiration Date or earlier termination of this Lease. Landlord
acknowledges that Tenant has supplied certain equipment, as contained in Schedule C attached, and Tenant shall remove said equipment upon the Expiration Date or earlier termination of this Lease. 

6.3. Tenant’s Removal of Trade Fixtures. Nothing in this Article shall prevent Tenant’s removal of its trade fixtures
upon the Expiration Date or earlier termination of this Lease in accordance with the terms hereof, but upon such removal, Tenant shall promptly, and at its own expense, repair and restore any damage caused by such removal. 

6.4. Tenant’s Compliance with Conditions of Construction. Tenant shall, before making any alterations, additions or
improvements permitted hereunder, obtain all permits, approvals and certifications required by any governmental or quasi-governmental body or authority, and (upon completion) certificates of final approval and/or completion thereof, and shall
deliver promptly copies of all such permits, approvals and certificates to Landlord. In performing any additions, alterations or improvements to the Leased Premises permitted hereunder, Tenant shall comply with all applicable laws, regulations and
ordinances. Tenant agrees to carry, and will cause its contractors and subcontractors to carry, worker’s compensation insurance in the amount required by law and general liability insurance with a limit of not less than One Million Dollars
($1,000,000.00) combined single limit per occurrence for bodily injury, personal injury and property damage liability. Each such policy shall name Landlord and, at Landlord’s request, Landlord’s Lenders (as such term is defined in
Section 10.1 hereof), as additional insured(s) and Tenant shall furnish to Landlord prior to the commencement of construction appropriate certificates evidencing that such insurance is in effect. Tenant agrees to obtain and deliver to Landlord
written subordination of mechanics’ liens upon the Property and Building 4 for all work, labor and services to be performed and for materials to be furnished in connection with such work, signed by all contractors, subcontractors, material men
and laborers to become involved in such work. Any such alterations, additions or improvements shall be at the sole expense of Tenant using contractors selected by Tenant and approved by Landlord, which approval shall not be unreasonably denied or
delayed. Tenant shall notify Landlord in writing of the identity of each contractor with whom it intends to contract at least five (5) business days prior to entering into a contract with such contractor. If Landlord has not notified Tenant in
writing that Landlord disapproves of such contractor within five (5) business days after Landlord was notified of the identity of Tenant’s proposed contractor, then such contractor shall be deemed approved. 

  
 13 

 EXECUTION COPY 
  

 6.5. Mechanic’s Lien. If any mechanic’s lien is filed against the
Property or the Leased Premises for work claimed to have been done or materials claimed to have been furnished to or for the benefit of Tenant, whether related to work done pursuant to any provision of this Lease or otherwise, the lien, within
thirty (30) days of its receipt of notice of such filing, shall be discharged by Tenant at Tenant’s expense by payment, satisfaction or by filing a bond as required by law or by other reasonable means. 

ARTICLE 7. REPAIRS 

7.1. Landlord Maintenance. Landlord shall maintain and repair the public portions of Building 4, exterior and interior, and
shall make all structural repairs to Building 4, subject to Tenant’s obligations under Section 7.3. Landlord shall maintain and repair the equipment serving Building 4 generally, and the utility systems serving Building 4. Landlord shall
also perform cleaning services as per the daily services specifications attached hereto as Exhibit B. The cleaning Specifications set forth on Exhibit B are illustrative only and shall be subject to change from time to time. 

7.2. Tenant Maintenance. Tenant shall take good care of and maintain the Leased Premises, shall not waste the Leased Premises,
and shall maintain the Leased Premises and its fixtures in good working order and condition, reasonable wear and tear excepted. Tenant shall also be responsible for its own janitorial services within the laboratory areas of the Leased Premises. Any
contractors retained by Tenant for these purposes must be approved by Landlord in accordance with the provisions of Section 6.4. 

7.3. Tenant’s Liability for Damages. Notwithstanding any provision of Section 7.1 above, subject to the provisions of
Section 25.3, Tenant shall be liable for all damage or injury to the Leased Premises or to any other part of the Property or Building 4 or to any other portion of the property known as “Science Park”, of which the Property is a part,
whether requiring structural or non-structural repairs, caused by or resulting from any intentional or unintentional act, negligence or willful conduct on the part of Tenant, a subtenant of Tenant, their
respective servants, employees, agents, contractors, subcontractors, licensees or invitees. All such damage or injury shall be repaired promptly by Tenant at its sole cost and expense to the satisfaction of Landlord. 

7.4. Tenant to Repair Damage. Tenant shall repair all damage to the Property, Building 4 and to the Leased Premises caused by
the moving, installing or removing of Tenant’s fixtures, furniture, equipment or other personal property. 
 7.5. Landlord
May Make Repairs at Tenant’s Expense. If Tenant fails after thirty (30) days’ notice to proceed with due diligence to make any repairs required to be made by it (unless in Landlord’s judgment, reasonably exercised, a delay of
thirty days may expose persons or property to possible damage or injury, wherein Landlord may proceed without notice to 

  
 14 

 EXECUTION COPY 
  

 
repair), repairs may be made by Landlord for the account of and at the expense of Tenant. The reasonable costs and expenses so incurred by Landlord in making any such repairs shall be payable by
Tenant as Additional Rent within ten (10) business days following submission of reasonably detailed invoices therefor. 
 7.6.
Tenant to Notify Landlord of Defective Conditions. Tenant shall give Landlord prompt written notice of any defective condition in the Leased Premises of which Tenant is aware, including but not limited to, any defective condition in the
plumbing, heating system or electrical lines located in, servicing or passing through the Leased Premises. 
 7.7. Quality of
Work. Any and all work required or permitted to be done to or upon the Leased Premises by way of repairs, alterations, additions or improvements by Landlord or Tenant, or the agents or employees of either, shall be of a quality equal to the
original construction and shall be done in accordance with all applicable laws, regulations and ordinances. 
 ARTICLE 8. COMPLIANCE WITH
LAWS; INCREASED INSURANCE RATES; 
 ENVIRONMENTAL LAWS 

8.1. Tenant to Comply with Laws and Regulations. Tenant, at its sole cost and expense, shall comply with all present and future
statutes, laws, orders, ordinances, rules, regulations and requirements of all federal, state, municipal and local governments, departments, commissions and boards, the directions of any public officer, and all orders, rules and regulations of the
Connecticut State Fire Safety Code or any similar organization, relating or pertaining to the conduct of Tenant’s business or its specific use and occupancy of the Leased Premises (and not to those laws, etc. which pertain to tenants generally,
which shall be Landlord’s responsibility) (collectively, “Laws”). 
 8.1.1. Landlord’s
Representations. As of the Rent Commencement Date, Landlord represents and warrants that the Leased Premises are in compliance with all applicable safety Laws. 

8.2. No Violation of Insurance Policies. Tenant shall not do or permit any act to be done in or to the Leased Premises which
will invalidate or be in conflict with any policies of insurance at any time carried by or for the benefit of Landlord with respect to the Leased Premises, Building 4 or the Property. Tenant shall not use the Leased Premises in a manner that will
increase the rate of any insurance applicable to the Leased Premises, Building 4 or the Property in effect on the Rent Commencement Date. Landlord represents that as of the Rent Commencement Date, the use of the Leased Premises for office and
laboratory purposes does not conflict with or invalidate any insurance nor subject Landlord to an increase in the rate of insurance. 

  
 15 

 EXECUTION COPY 
  

 8.3. Tenant to Pay Costs, Fines and Penalties. Upon receipt of notice from
Landlord, Tenant shall promptly pay all claims, costs, expenses, fines, interest, penalties or damages that may be imposed upon or incurred by Landlord by reason of any Event of Default, provided that Tenant shall not be liable for any late charges
or other costs that result from a delay by Landlord in paying the same. If Landlord’s insurance rates are increased during the Term of this Lease because of a special risk associated with Tenant’s use or occupancy, Tenant shall promptly
reimburse Landlord for said increase as Additional Rent, upon receipt of reasonably detailed evidence thereof. 
 8.4. Hazardous
Materials. As used herein, the term “Hazardous Materials” shall mean and include those elements, materials, compounds, mixtures, wastes or substances (collectively “Substances”) which are designated as
pollutant, toxic, infectious, flammable, radioactive or hazardous (or contained in any list which is adopted) by the United States Environmental Protection Agency (the “EPA”), the State of Connecticut or any political subdivision
thereof, including without limitation the Connecticut Department of Energy and Environmental Protection (“DEEP”), or is so designated under any of the Environmental Laws, and, whether or not included in any such list or designated
as such, shall be deemed to include all Substances containing petroleum, petroleum products and derivatives, chlorinated hydrocarbons, asbestos, and polychlorinated biphenyls (PCB’s). 

8.5. Environmental Laws. As used herein, the term “Environmental Laws” shall mean and include any Federal,
State, or local statute, law, ordinance, code, rule, regulation, order, or decree regulating or relating to the protection of human health or the environment, or regulating or imposing liability or standards of conduct concerning the use, storage,
discharge, handling, treatment, removal, disposal or transportation of any Hazardous Materials, as now or at any time hereafter in effect including, without limitation, Title 22a (“Environmental Protection”) of the Connecticut
General Statutes, including, but not limited to, Sections 22a-448 through 22a-457 of the Connecticut General Statutes (the “Superlien Statute”), the
Federal Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. §§9601 et. seq., The Superfund Amendments and Reauthorization Act, 42 U.S.C. §§9601 et. seq., the
Federal Oil Pollution Act of 1990, §§2701, et. seq., the Federal Toxic Substances Control Act, 15 U.S.C. §§ 2601 et. seq., the Federal Resource Conservation and Recovery Act as amended, 42 U.S.C.
§§6901 et. seq., the Federal Hazardous Materials Transportation Act, 49 U.S.C. §§1801 et. seq., the Federal Clean Air Act 42 U.S.C. §7401 et. seq., the Federal Water Pollution
Control Act, 33 U.S.C. §1251 et. seq., the Rivers and Harbors Act of 1899, 33 U.S.C. §§401 et. seq., Title X of Pub.L. 102.550 (Oct. 28, 1992), and all laws, statutes, rules, ordinances, and all rules and
regulations of the EPA, the DEEP or any other state or federal department, board, or agency, or any other agency or governmental board or entity having jurisdiction over the Property, as any of the foregoing have been, or are hereafter created,
amended, supplemented, re-authorized, superseded and replaced from time to time. 
 8.6.
Chemicals and Hazardous Materials. Tenant shall, no less often than annually, provide Landlord with a list of chemicals and Hazardous Materials Tenant intends to store or use in the Leased Premises. Such list, for the first Lease Year, is
attached hereto as Schedule D. Tenant shall immediately notify Landlord in writing whenever Tenant intends to store or use other chemicals or Hazardous Materials than appear on such list, except that Tenant is permitted
without prior notice and consent of landlord to use those Hazardous Materials necessary for the conduct of its business provided they are not used in “reportable quantities” and they are used in accordance with Environmental Laws. Failure
to so notify Landlord shall be an Event of Default hereunder. 

  
 16 

 EXECUTION COPY 
  

 8.7. Compliance with Environmental Laws. Tenant shall at its own expense
procure, maintain in effect and comply with all conditions of any and all permits, licenses and other government and regulatory approvals required for Tenant’s activities or use of the Leased Premises, including, without limitation, the use,
transportation, storage and discharge of Hazardous Materials. Tenant shall comply at all times with all Environmental Laws applicable to Tenant’s activities or use of the Leased Premises. Except as so discharged in accordance with all
applicable Environmental Laws, Tenant shall cause any and all Hazardous Materials removed from the Leased Premises to be removed and transported solely by duly licensed haulers to duly licensed facilities for final disposal of such Hazardous
Materials. Tenant shall in all respects handle, treat, deal with and manage any and all Hazardous Materials in, on, under or about the Leased Premises in total conformity with all applicable Environmental Laws and prudent industry practices
regarding management of such Hazardous Materials. Upon expiration or earlier termination of the Term of the Lease, Tenant shall: (i) cause all Hazardous Materials used by Tenant to be removed from the Leased Premises by an appropriately
licensed contractor and to be transported for use, storage or disposal in accordance and compliance with all applicable Environmental Laws; and (ii) shall arrange for a licensed industrial hygienist or other appropriately licensed contractor to
clean the Leased Premises and any remaining furniture, fixtures and equipment of any and all Hazardous Materials used by Tenant and to provide to Landlord appropriate and customary written certifications specifying the completion of same including
descriptions and/or serial numbers of all equipment cleaned by the contractor (“Cleaning Certificates”). Tenant shall promptly deliver to Landlord copies of all Cleaning Certificates and hazardous waste manifests reflecting the
legal and proper cleaning of the Leased Premises and remaining furnishings, fixtures and equipment and the legal and proper disposal of all Hazardous Materials removed from the Leased Premises. 

8.8. Tenant to Indemnify Landlord and Landlord’s Lenders. Tenant shall indemnify and hold harmless Landlord,
Landlord’s Lenders (as defined in Section 10.1), and their respective directors, officers, employees and agents (each an “Indemnified Party”) from and against any and all claims, actions, proceedings, investigations,
suits, penalties, fines, costs, expenses, sums paid in settlement, judgments, losses and damages, directly or indirectly arising as a result of or caused by Tenant’s failure to comply fully with any applicable Laws or Environmental Laws or the
terms of this Article 8. The foregoing indemnification shall include without limitation all costs of environmental cleanup, all fees and expenses of environmental consultants and engineers hired by an Indemnified Party and reasonable attorney’s
fees incurred by an Indemnified Party directly or indirectly as a result of any claim for which indemnification is provided herein. Tenant shall be responsible for the cost of any and all repairs to the Property, Building 4, the Leased Premises and
any other real or personal property owned by Landlord or its subsidiaries from time to time, structural and nonstructural, required as a result of Tenant’s violation of any such Laws or Environmental Laws or terms of this Article 8. The terms
of this Article 8 shall survive the termination or expiration of this Lease for any reason. 

  
 17 

 EXECUTION COPY 
  

 8.9. Landlord to Indemnify Tenant. Except with respect to conditions caused by
or attributable to Tenant, its contractors, agents or employees, Landlord shall indemnify and hold harmless Tenant, and its respective directors, officers, employees and agents (each a “Tenant Indemnified Party”) from and
against any and all claims, actions, proceedings, investigations, suits, penalties, fines, costs, expenses, sums paid in settlement, judgments, losses and damages, directly or indirectly arising as a result of or caused by Landlord’s failure to
comply fully with any applicable Laws or Environmental Laws or the terms of this Article 8. The foregoing indemnification shall include without limitation all costs of environmental cleanup, all fees and expenses of environmental consultants and
engineers hired by a Tenant Indemnified Party and reasonable attorney’s fees incurred by a Tenant Indemnified Party directly or indirectly as a result of any claim for which indemnification is provided herein. Landlord shall be responsible for
the cost of any and all repairs to the Property, Building 4, the Leased Premises and any other real or personal property owned by Landlord or its subsidiaries from time to time, structural and nonstructural, required as a result of Landlord’s
violation of any such Laws or Environmental Laws or terms of this Article 8. The terms of this Article 8 shall survive the termination or expiration of this Lease for any reason. 

ARTICLE 9. FLOOR LOAD; MACHINERY AND EQUIPMENT 

9.1. Floor Load. Tenant shall not place a load upon any floor of the Leased Premises exceeding the established floor load, which
shall be set by the Landlord. All such equipment and material installation shall be placed and maintained by Tenant at its expense, with equipment in settings sufficient to absorb vibration and noise and prevent annoyance to other tenants in
Building 4. 
 9.2. Engines, Machinery and Equipment. Tenant shall provide Landlord with a list of all engines, machinery and
equipment Tenant intends to store or use in the Leased Premises, excluding ordinary office equipment. Such list is attached hereto as Schedule C. Tenant shall notify Landlord in writing in advance whenever Tenant intends to store or use
engines, machinery or equipment in the Leased Premises other than that listed on Schedule C. In no event shall Tenant store or use engines, machinery or equipment in the Leased Premises without Landlord’s prior written
consent. Tenant’s failure to comply strictly with this section will constitute an Event of Default under this Lease. 
 ARTICLE 10.
TENANT’S OBLIGATIONS TO LANDLORD’S LENDERS 
 10.1. Subordination. The rights of Tenant under this Lease will
always be subject and subordinate to the rights, title and interest of all present and future lenders who may from time to time extend credit to Landlord which extensions of credit may be secured in whole or in part by a mortgage or other security
interest on the Property, Building or Leased Premises (collectively, “Landlord’s Lenders”) and all renewals, modifications, replacements and extensions of any such mortgage or other security interest, provided Tenant’s
occupancy will not be disturbed. This provision is automatic without any further consent or confirmation by Tenant, but at Landlord’s request, Tenant will execute an agreement in form and content acceptable to Landlord and Landlord’s
Lenders (a “Subordination Nondisturbance Agreement”) confirming this provision. Tenant will sign the Subordination Nondisturbance Agreement and return it to Landlord within ten (10) days after Landlord makes the request in
writing. Landlord shall obtain 

  
 18 

 EXECUTION COPY 
  

 
from the holder of any Mortgage in effect as of the Rent Commencement Date of this Lease, a reasonable form of Subordination Nondisturbance Agreement in recordable form to the effect that as long
as Tenant shall keep, carry out, and perform all of the terms, covenants and provisions contained in this Lease which are to be performed by Tenant, within all applicable notice and cure periods, Landlord’s Lenders, or their assignees, will not
disturb Tenant’s occupancy of the Leased Premises. 
 10.2. Estoppel Certificate. Tenant agrees to execute and deliver to
Landlord within ten (10) days of Landlord’s written request a certificate or statement reasonably required to confirm that this Lease is in full force and effect, whether it has been modified, and if so, how, and whether, to Tenant’s
knowledge, Landlord is in default in the performance or observance of any covenants or conditions in this Lease on Landlord’s part to be performed or observed, or any condition exists that with the passage of time would, if uncorrected,
constitute a default (an “Estoppel Certificate”). Landlord shall deliver to Tenant a comparable Estoppel Certificate within thirty (30) days after written request from Tenant. 

10.3. Prohibition Against Recording Lease. Neither party shall record this Lease on the New Haven Land Records. Any such
recordation of this Lease shall be an Event of Default hereunder and such recordation shall be null and void and of no force and effect. 

ARTICLE 11. LIMITATIONS ON LANDLORD’S LIABILITY 

11.1. Property. Landlord shall not be liable for any loss of or damage to any property of Tenant, its employees, agents,
contractors, subcontractors, licensees or invitees, whether by theft or otherwise, unless caused by the negligence or willful misconduct of Landlord, its agents, employees or contractors. 

11.2. Landlord Not Liable for Other Tenants. Landlord and its agents shall not be liable for any injury or damage to persons or
property caused by other tenants or persons in, upon or about Building 4, Property or other real property in the vicinity of the Property, or caused by operations in construction of any private, public or quasi-public work in or to Building 4, the
Property or such other real property, unless caused by the negligence or willful misconduct of Landlord. 
 11.3. Limitation on
Landlord’s Liability. Landlord shall not be liable to Tenant and, to the fullest extent allowed by applicable law, Tenant, for itself and its employees, contractors, subcontractors, agents, licensees and invitees, hereby waives all claims
against and releases Landlord, Landlord’s Lenders, and their respective directors, officers, employees and agents from and against any and all claims, actions and causes of action which they or any of them may have now or in the future, for
damages resulting from any entry into the Leased Premises, loss of life, personal injury, loss of business, or damage to any property on or about the Property or the real property known as “Science Park” of which the Property is a part or
the approaches, entrances, streets, sidewalks or corridors thereto, by or from any cause whatsoever, including without limitation, damage caused by any defect in the Leased Premises or any other portion of Building 4 or Property or the real property
know as “Science Park”, or by water leakage of any 

  
 19 

 EXECUTION COPY 
  

 
character from the roof, walls, basement or other portion of Building 4 or Leased Premises or caused by gas, fire, oil, electricity or any cause whatsoever in, on or about the Leased Premises or
any other portion of Building 4 or the Property or the real property known as “Science Park”, provided the same does not arise, in whole or in part, by the negligence, willful misconduct or breach of contract of or by Landlord, its agents,
employees or contractors. 
 ARTICLE 12. TENANT’S OBLIGATION TO PROTECT LANDLORD AND 

LANDLORD’S LENDERS 

12.1. Tenant to Indemnify and Hold Harmless Landlord. To the fullest extent allowed by applicable law, Tenant will defend,
indemnify and hold harmless Landlord, Landlord’s Lenders, and their respective directors, officers, employees and agents (individually, an “Indemnified Party”), from and against any and all claims, damages, liabilities,
penalties, fines, judgments, forfeitures, actions, causes of action, losses, costs and expenses (including, without limitation, reasonable attorney’s fees, costs and expenses incurred by any Indemnified Party in defending against any claim for
which indemnification is provided herein), which result from, or arise out of or in connection with any one or more of the following (including claims resulting from the death of or injury to any person or damage to any property whatsoever, arising
from or caused in whole or in part, directly or indirectly, by): 
 A. Any breach or violation by Tenant or a subtenant of Tenant or their
respective servants, employees, agents, contractors, subcontractors, licensees or invitees of any provision of this Lease; 
 B. The
negligence or willful act of Tenant or a subtenant of Tenant or their respective servants, employees, agents, contractors, subcontractors, licensees or invitees; 

C. The use and occupancy of the Leased Premises by Tenant or any other party during the Term of this Lease; or 

D. (i) the use, storage, transportation, disposal, release, discharge or generation of, Hazardous Materials to, in, on, under, about or from
the Leased Premises or the Property or the real property known as “Science Park” of which the Property forms a part, by Tenant, a subtenant of Tenant or their respective employees, contractors, subcontractors, agents, licensees or
invitees, or (ii) Tenant’s failure to comply with any Environmental Laws. Tenant’s obligation under this Section shall include, without limitation, and whether foreseeable or unforeseeable, any and all costs incurred in connection
with any investigation of site conditions, and any and all costs of any required or necessary repair, cleanup, monitoring, remedial action, detoxification or decontamination of the Property or other portions of the real property known as
“Science Park” of which the Property forms a part (including, without limitation, the soil and ground water on or under the Property or such real property known as “Science Park”) and the preparation and implementation of any
closure, remedial action or other required plans in connection therewith, provided the cause of the same is due solely to Tenant, its agents, employees or contractors. Tenant’s obligations under this Section shall survive the expiration or
earlier termination of the Term of the Lease. For purposes of the indemnity provisions hereof, any acts or omissions of 

  
 20 

 EXECUTION COPY 
  

 
Tenant or a subtenant of Tenant or by employees, agents, assignees, contractors, subcontractors, licensees and invitees of Tenant or a subtenant of Tenant or others acting for or on behalf of
Tenant or a subtenant of Tenant (whether or not they are negligent, intentional, willful or unlawful) shall be strictly attributable to Tenant. 

12.2. Tenant to Defend Claims. If any action or proceeding is brought against an Indemnified Party by reason of a claim
described in Section 12.1., Tenant, upon written notice from Landlord, will at Tenant’s sole cost and expense, defend the action or proceeding with legal counsel approved by Landlord in writing, which approval shall
not be unreasonably withheld. Landlord shall give Tenant written notice of any such claim as soon as reasonably practicable but in any event within fifteen (15) days of Landlord receiving written notice of such claim. 

12.3 Landlord to Indemnify Tenant as to Certain Claims. Except to the extent Tenant is required to indemnify Landlord under
Section 12.1 above, Landlord will defend, indemnify and hold harmless Tenant and its directors, officers, employees and agents (individually, a “Tenant Indemnified Party”), from and against any and all claims,
damages, liabilities, penalties, fines, judgments, forfeitures, actions, causes of action, losses, costs and expenses, costs and expenses (including, without limitation, reasonable attorney’s fees incurred by any Tenant Indemnified Party
in defending against any claim for which indemnification is provided herein), which result from, or arise out of or in connection with (including claims resulting from the death of or injury to any person or damage to any property whatsoever,
arising from or caused in whole or in part, directly or indirectly, by): (a) any breach or violation by Landlord or its servants, employees, agents, contractors, or subcontractors of any provision of this Lease; or (b) the
negligence or willful act of Landlord or its servants, employees, agents, contractors, subcontractors, or licensees. 
 ARTICLE
13. FIRE AND OTHER CASUALTY 
 13.1. Notification to Landlord; Obligation to Pay Base Rent and Additional Rent. If the
Leased Premises or Building 4, or any part thereof, shall be destroyed or partially damaged by fire or other casualty, Tenant shall continue to pay rent during any period of repair except as otherwise expressly provided in this Article or until the
Lease is terminated in accordance with the terms of this Article. 
 13.2. When Lease May Be Terminated; Apportionment of Base Rent and
Additional Rent. If by reason of casualty: 
 A. Building 4 is destroyed, this Lease shall terminate automatically and Tenant shall
vacate the Leased Premises as of the date of the casualty; 
 B. The Leased Premises are rendered wholly or substantially untenantable and
restoration will require longer than 120 days, this Lease shall terminate at the option of Landlord or Tenant made within 30 days of the casualty or loss causing such condition and Tenant shall vacate the Leased Premises as of the date of such
casualty or loss; or 

  
 21 

 EXECUTION COPY 
  

 C. Any portion of Building 4 is otherwise substantially damaged and Tenant’s access to
or use of the Leased Premises is materially and adversely affected, and restoration of such damage shall require longer than 120 days to complete, then Landlord may either elect to repair the damage or may cancel this Lease by giving written notice
of cancellation to Tenant within thirty (30) days after such casualty or loss. Upon the giving of such notice of cancellation, this Lease shall terminate, and Tenant shall vacate and surrender the Leased Premises to Landlord. If Landlord shall
have decided to repair any damage as aforesaid, the damage (except as to Tenant’s fixtures, personal property or leasehold improvements made by Tenant) shall be repaired by and at the expense of Landlord within one hundred and eighty
(180) days of the casualty and the Base Rent and Additional Rent shall be abated during the period of the repairs according to the part of the Leased Premises, if any, which is not usable by Tenant, but if the remaining usable portion does not
enable Tenant to conduct its business in a reasonable manner, then abatement shall be determined by the extent of material interference with Tenant’s business. If Landlord shall not complete the restoration within said 180-day period, then, provided that the Leased Premises were materially damaged by the casualty, Tenant may elect to terminate this Lease by written notice given to Landlord within thirty (30) days after the
end of said 180-day period. If the casualty occurred during the last 180 days of the Term and the Leased Premises was materially damaged, then Tenant may elect to terminate this Lease by written notice given
to Landlord within thirty (30) days after the date of the casualty. 
 13.3. Intentionally Omitted. 

13.4. Landlord Need Not Replace Tenant’s Property. Tenant acknowledges that Landlord is not required to repair or replace
any of Tenant’s property or Tenant’s improvements to the Leased Premises and that Landlord will not carry insurance on Tenant’s furnishings, fixtures, equipment, improvements or other personal property. 

13.5. Alternate Parking. In the event that Tenant parking as provided for in this Lease is temporarily unavailable because of
fire, other casualty or any other reason outside of Landlord’s control, Landlord shall endeavor in good faith to provide alternative parking within the Science Park complex. 

ARTICLE 14. TAKING BY GOVERNMENTAL AUTHORITY 

14.1. Termination of Lease; Waiver of Claim by Tenant. If Building 4 or any portion of Building 4 which includes the Leased
Premises shall be taken by condemnation (also known as “eminent domain”) by any authority having power so to do or is conveyed to such authority in lieu of condemnation, this Lease shall terminate from the date of title vesting in such
authority. If any portion of Building 4, which does not include the Leased Premises but materially and adversely affects Tenant’s access to or use of the Leased Premises, shall be so taken, Landlord shall have the option, at its sole
discretion, to cancel this Lease. All proceeds from the taking will belong to Landlord and Tenant waives any rights it might have to such proceeds. Tenant, however, may proceed with any independent claim against the taking authority as to moving
costs. 

  
 22 

 EXECUTION COPY 
  

 14.2. Taking Not Involving Building 4. If a portion of the Property shall be
taken by condemnation as described in Section 14.1. or conveyed in lieu of condemnation, which portion does not include any portion of Building 4 (or excepting an inconsequential portion of Building 4 not affecting the
Leased Premises), the Term of this Lease shall not terminate but shall continue in full force and effect according to its terms. Tenant shall not be entitled to any award or damages from such taking. 

ARTICLE 15. TENANT’S RIGHT TO ENCUMBER, ASSIGN, OR SUBLEASE 

15.1. Tenant May Not Use Lease as Collateral. Tenant may not voluntarily or involuntarily use this Lease for collateral (known
as “encumbering” the Lease) without Landlord’s prior written consent, which consent will not be unreasonably withheld. 

15.2. Assignment or Subletting by Tenant. Except as permitted under Section 15.3.D of this Lease, Tenant may not assign or
transfer its interest in this Lease, nor sublet any portion of the Leased Premises, without Landlord’s prior written consent, which consent shall not be unreasonably withheld. Consent to an assignment, transfer or sublease shall not be
interpreted as consent to any renewal, additional or subsequent assignment, transfer or sublease. 
 15.3. Conditions Precedent to
Assignment, Transfer or Sublease. An assignment, transfer or sublease shall become effective only upon and subject to the following conditions: 

A. Tenant shall have provided to Landlord such information relating to the proposed assignment, transfer or sublease as Landlord may reasonably
request, including but not limited to the identity of the proposed assignee, transferee or sublessee together with tax returns and financial statements for the proposed assignee, transferee or sublessee; and 

B. Tenant shall have provided Landlord with an executed copy of all written agreements relating to the assignment, transfer or sublease, and
such agreements are in a form reasonably acceptable to Landlord; and 
 C. The proposed assignee, transferee or subtenant shall execute and
deliver to Landlord such agreements as Landlord and Landlord’s Mortgagees may reasonably require in order to evidence the assumption of the obligations and liabilities under this Lease; and 

D. Landlord shall have approved in writing such assignment, transfer or sublease, which approval shall not be unreasonably denied; provided,
however, that no such approval shall be required in the case of an assignment, transfer or sublease to a parent, affiliate or subsidiary of Tenant or in the case of a merger, consolidation, sale of stock or sale of substantially all of the assets of
the Tenant, provided that the conditions set forth in clauses A, B and C of this Section 15.3 are satisfied and in all instances Tenant shall continue to be subject to Section 15.4 of this Lease. 

15.4. Tenant Not Released. No assignment or transfer of Tenant’s interest hereunder nor a sublease of the Leased Premises
or any part thereof will release Tenant from its obligations under this Lease and Landlord may look to Tenant for continued performance. 

  
 23 

 EXECUTION COPY 
  

 15.5. Landlord May Collect Charges. Landlord may collect use and occupancy
charges from a subtenant of Tenant without being considered to have consented to the sublease. 
 15.6. Shared Use By Other
Entities. Except as permitted under Section 15.2, no use of the Leased Premises by any person or entity other than Tenant is permitted without the prior express written consent of Landlord, which consent may be conditioned on the following,
among other reasonable conditions established by Landlord: (1) Landlord’s receipt of prior written request therefor and proof of insurance coverage to Landlord’s satisfaction, and (2) provision to Landlord’s satisfaction for
payment by Tenant of any additional costs and charges occasioned by such use. 
 ARTICLE 16. ACCESS TO LEASED PREMISES 

16.1. Landlord to Have Access in Emergency. Landlord and Landlord’s agents shall have the right to enter the Leased
Premises at any time if Landlord or Landlord’s agent reasonably believes an emergency exists. 
 16.2. Landlord’s Right
to Enter. Except as provided in Article 16.1., Landlord and Landlord’s agents shall have the right to enter the Leased Premises upon reasonable notice to Tenant for the following purposes: 

A. Inspecting the Leased Premises; 

B. At any time during the Term, showing the Leased Premises to prospective purchasers and lenders; 

C. During the final six months of the Term, showing the Leased Premises to prospective tenants; and 

D. To make repairs and alterations as Landlord may deem necessary to the Leased Premises or to any other portion of Building 4 or which
Landlord may elect to perform following Tenant’s failure to make repairs or perform any work which Tenant is obligated to perform under this Lease after notice and applicable cure periods, or for the purpose of complying with laws, regulations
and other directives of governmental authorities. In exercising its rights under this Section 16.2, Landlord shall not unreasonably interfere with Tenant’s use of the Leased Premises. 

16.3. Landlord May Make Changes to Building 4. Landlord shall have the right at any time, without incurring any liability to
Tenant, to make any changes, deletions and additions to Building 4 and to the entrances, exits, stairs, halls, elevators and common spaces as Landlord believes necessary or desirable, provided that such changes shall not materially adversely affect
Tenant’s access to or use of the Leased Premises. No action taken by Landlord pursuant to this section shall constitute an eviction or breach of this Lease. 

  
 24 

 EXECUTION COPY 
  

 16.4 Safety Inspections. Landlord shall have the right, no more frequently than
once every three months, to have a safety inspection performed by an appropriately licensed third party laboratory inspector (a “Safety Inspection”). All such Safety Inspections shall be limited to the operation of and materials,
chemicals and processes employed by Tenant in the portions of the Leased Premises used for laboratory purposes. Landlord shall give the Tenant at least five (5) business days advance notice of any such Safety Inspection and all Safety
Inspections shall be conducted in advanced coordination with the Tenant in such a manner and at such a time as to minimize any disruption of business conducted by the Tenant. Tenant shall have a representative present during all Safety Inspections
and shall simultaneously be sent a copy of any written report or summaries with respect to each Safety Inspection. To the extent that safety issues and/or violations of any applicable law are identified, Tenant shall remedy any such issues or
violations in advance of a mutually agreed upon follow up Safety Inspection but in no event more than 30 days thereafter. Landlord may issue a default notice under Section 17.1.H. of this Lease should Tenant fail to remedy any such safety
issues or violations of law as of the time of such follow up Safety Inspection. 
 ARTICLE 17. DEFAULT AND TERMINATION 

17.1. Events of Default. The occurrence of any one or more of the following events shall constitute an event of default by
Tenant hereunder (“Event of Default”): 
 A. Failure to pay any Base Rent, Additional Rent or any other rent or monetary
obligation under this Lease within ten (10) days after written notice is given to Tenant that payment is past due; provided, however, that if Landlord has given Tenant at least three (3) such notices within any consecutive 12-month period with respect to Base Rent and/or Additional Rent due with respect to Tenant’s Proportionate Share of Operating Expenses and/or Property Taxes, then if Tenant shall fail again during such 12-month period to pay any Base Rent or Additional Rent within ten (10) days of the date payment is due, such failure shall be deemed an Event of Default and Landlord shall not be required to give Tenant notice
that such payment is past due; 
 B. Voluntary recourse to any protection or procedure under the United States Bankruptcy Code, as amended,
or any similar law. 
 C. There is filed against Tenant in any court pursuant to any statute, either of the United State of America or of
any state, a petition in bankruptcy or insolvency, or for reorganization, the appointment of a receiver or trustee of all or a portion of Tenant’s property, or for other relief of debtors, and within thirty (30) days thereof Tenant fails
to secure a dismissal thereof. 
 D. Failure to execute and deliver in a timely manner a Subordination Agreement, Estoppel Certificate or
other certificate regarding the status of this Lease which continues for more than five (5) days after written notice of such failure. 

  
 25 

 EXECUTION COPY 
  

 E. Transfer of this Lease to another party by operation of law or otherwise in violation of
the terms of this Lease. 
 F. Abandonment of the Leased Premises. 

G. The recordation of this Lease on the New Haven Land Records in violation of Section 10.3 hereof. 

H. Failure to perform or comply with any other non-monetary obligation under this Lease within thirty
(30) days of written notice of such failure, provided that, if said failure is of a nature that the same cannot be completely cured or remedied within said thirty (30) day period, then Tenant shall not be in default if it begins such cure
within the thirty (30) day period described above and thereafter diligently prosecutes such cure to completion but in no event beyond sixty (60) days after such thirty (30) day period. 

I. Any lien, attachment or other encumbrance is lodged against the Leased Premises, Building 4 or the Property by a party claiming through or
under Tenant and such is not discharged, satisfied or bonded within thirty (30) days after Tenant’s receipt, whether actual or statutory, of such lien, attachment or encumbrance. 

17.2. Termination Upon Occurrence of Event of Default. Upon the occurrence of an Event of Default, this Lease and the Term
thereof shall, at the option of Landlord and upon written notice to the Tenant (which notice may be a notice to quit), terminate and expire and, upon such termination, Tenant shall forthwith quit and surrender the Leased Premises to Landlord but
still shall remain liable to Landlord as herein provided. 
 17.3. Effect of Termination. Upon termination as provided for in
this Article 17, Landlord may dispossess Tenant by summary process or otherwise in accordance with applicable law, and Tenant hereby waives the service of any notice to quit. 

17.4. Damages. In the case of any termination of this Lease under this Article 17, Landlord, at its sole discretion, may recover
from Tenant any and all actual damages sustained by Landlord as a result of the termination and any re-letting of the Leased Premises. These damages include, but are not limited to: 

 

	 	A.	Base Rent and Additional Rent when due; 

  

	 	B.	The cost of removing Tenant and its property and otherwise recovering the Leased Premises; 

  

	 	C.	The reasonable cost of preparing the Leased Premises for another tenant; 

  

	 	D.	Reasonable brokerage appraisal fees; 

  

	 	E.	Any other reasonable expenses as Landlord may incur in connection with re-letting the Leased Premises. 

  
 26 

 EXECUTION COPY 
  

	 	F.	As an alternative to the damages described in clause “A” of this Section 17.4, the difference between (i) all Base Rent and Additional Rent that would have become payable for the remainder of the
Term of this Lease, and (ii) that actually received for said period, all of which shall be discounted to present value using Federal Reserve discount rate; and 

 

	 	G.	Reasonable legal fees incurred by Landlord in exercising its rights under this Article 17. 

17.5. Mitigation of Damages. Landlord shall use reasonable efforts to mitigate its damages under this Lease. Provided that
Landlord has used reasonable efforts to mitigate its damages, the failure or inability of Landlord to re-let the Leased Premises, or any part or parts thereof, or the failure or inability to collect rentals
equal to the rentals payable under this Lease shall not release or affect Tenant’s liability for damages. In no event shall Tenant be entitled to receive any excess, if any, of any such rents collected over the sums payable by Tenant to
Landlord under this Lease. 
 17.6. Use and Occupancy. Any monies received by Landlord from or on behalf of Tenant during the
pending of any proceeding of the types referred to in subsections 17.1.B and 17.1.C shall be deemed paid as compensation for the use and occupation of the Leased Premises, and the acceptance of any such compensation by Landlord shall not be deemed
an acceptance of Base Rent, Additional Rent or a waiver on the part of the Landlord of any rights under Article 17. 
 ARTICLE 18.
LANDLORD’S PERFORMANCE ON TENANT’S BEHALF 
 18.1. Landlord May Cure Default. If Tenant defaults under this
Lease, Landlord, at its sole option, following any required notice and cure period, immediately or at any time thereafter, may elect to correct the default on behalf of Tenant. Any costs or expenses incurred by Landlord in curing such default
including, but not limited to, fines, penalties, interest, damages and reasonable attorney’s fees in instituting, prosecuting or defending any action or proceeding, all of which sums shall carry interest at the lesser of 18% per annum or the
highest rate permitted by law until paid in full, shall be deemed to be Additional Rent. Tenant shall pay such sums within thirty (30) days of rendition of a reasonably detailed bill or statement to Tenant therefor. Upon payment of such bill,
Tenant shall be deemed to have cured such default. 
 18.2. Landlord Not Obligated to Cure Default. Nothing contained in this
Article shall be construed as to require Landlord to incur any expenses or obligations on behalf of Tenant. 

  
 27 

 EXECUTION COPY 
  

 ARTICLE 19. TENANT’S QUIET ENJOYMENT OF THE LEASED PREMISES 

So long as no uncured Event of Default exists, Tenant may peaceably and quietly have, hold and enjoy the Leased Premises for the Term of this
Lease subject to the provisions of this Lease. 
 ARTICLE 20. NO WAIVER BY LANDLORD 

20.1. No Waiver. If either Landlord or Tenant fails or decides not to enforce any provision of this Lease or Landlord fails or
decides not to enforce any of the rules and regulations of Landlord set forth in this Lease or hereafter adopted, on any occasion, it may nevertheless on another occasion enforce such provision, rule or regulation. No act by Landlord or
Landlord’s agents shall be deemed an acceptance of a surrender of the Leased Premises or a waiver of any right under the Lease unless Landlord has so agreed in writing. 

20.2. Accepting Money Not a Waiver. Landlord will not waive any right to enforce any provision of this Lease by accepting a
payment of Base Rent and/or Additional Rent from Tenant knowing that Tenant has failed to comply with the terms of the Lease. No endorsement or statement on any check or any letter accompanying any check or payment shall be deemed to effect an
accord and satisfaction and Landlord may accept any such check or payment without prejudice to Landlord’s right to recover the balance of such Base Rent, Additional Rent or other payment due or to pursue any other remedy provided in this Lease.

 ARTICLE 21. INABILITY TO PERFORM 

This Lease and the obligation of Tenant to pay Base Rent, Additional Rent and other payments required hereunder and comply with all of the
other provisions of this Lease shall in no way be affected, impaired or excused because Landlord is delayed in supplying any service expressly or implied to be supplied, or is unable to make or is delayed in making any repair, additions, alterations
or decorations, or is unable to supply or is delayed in supplying any equipment or fixtures, or is unable to fulfill or is delayed in fulfilling any other obligation hereunder, if Landlord is so prevented or delayed by reason of riot, strike, labor
troubles, war, act of God or any other cause whatsoever beyond Landlord’s reasonable control including, but not limited to, government preemption in connection with a national emergency or by reason of any rule, order or regulation of any
department or subdivision thereof of any government agency, or by reason of the conditions of supply and demand which have been or are affected by war or other emergency; provided, however, that Landlord shall give written notice to Tenant of a
claim of a force majeure delay within thirty (30) days after Landlord first becomes aware of the occurrence of the event of force majeure, and, provided, further, that if the force majeure delay shall exceed one hundred and
eighty (180) days, then in such event Tenant may terminate this Lease by written notice given to Landlord within five (5) days of the expiration of said 180-day period. 

  
 28 

 EXECUTION COPY 
  

 Notwithstanding the foregoing, if the Premises, or a material portion of the Premises, are
made untenantable for a period in excess of five (5) consecutive Business Days as a result of a Landlord’s failure to furnish, or any interruption, diminishment or termination of services due to the application of Laws, the failure of any
equipment, the performance of maintenance, repairs, improvements or alterations, utility interruptions (collectively a “Service Failure”) that is reasonably within the control of Landlord to correct, then Tenant shall be entitled to
receive an abatement of Rent payable hereunder during the period beginning on the first day after the expiration of such fifth (5th) Business Day period and ending on the day the service has been
restored. If the entire Premises have not been rendered untenantable by the Service Failure, the amount of abatement shall be equitably prorated. 

ARTICLE 22. NOTICES AND OTHER COMMUNICATIONS 

All notices, consents, approvals or other communications required or provided to be sent by either party shall be in writing (except as
otherwise provided in this Lease) and shall be: (i) sent by United States Postal Service, certified mail, return receipt requested, (ii) sent by any nationally known overnight delivery service for next business day delivery,
(iii) delivered in person, (iv) sent by telecopier or facsimile machine which automatically generates a transmission report that confirms transmission and states the date and time of the transmission, and the telephone number of the
recipient’s telecopier or facsimile machine (with a copy thereof sent by the end of the same day in accordance with clause (i) or (ii) above), or (v) sent by electronic mail (e-mail) with a copy
thereof sent by the end of the same day in accordance with clause (i), (ii), (iii) or (iv) above (unless such follow up copy is excused in writing, including by way of e-mail, by the recipient). All
notices shall be deemed to have been given upon receipt, except that notices sent pursuant to clause (iii) or (iv) shall be deemed to have been received (i) on the date of delivery or transmission, if so transmitted before 4:30 p.m. (local
time of the recipient) on a Business Day, or (ii) on the next business day, if so delivered or transmitted on or after 4:30 p.m. (local time of the recipient) on a business day or if transmitted on a day other than a business day. All notices
shall be addressed, if to Tenant, at the addresses set forth below or such other address as Tenant shall have last designated by notice to Landlord; if to Landlord, at the address set forth below or such other address as Landlord shall have last
designated by notice to Tenant. Landlord and Tenant shall also deliver copies of all notices in like manner as set forth below: 
 LANDLORD:

 Science Park Development Corporation 

5 Science Park 
 New Haven, CT
06511 
 ATTN: President 

Telephone: (203) 785-0840 

Email: davidsilverstone1@gmail.com 

  
 29 

 EXECUTION COPY 
  

 TENANT: 

Precipio, Inc. 
 4 Science Park, 3rd Floor 
 New Haven, CT, 06511 

Attn: Carl Iberger 
 Tel:
203.787.7888 ex. 525 
 Email: ciberger@precipiodx.com 

Any address or name specified above may be changed by notice given to the addressee by the other party in accordance with this Article
22. Any notice to be given by any party hereto may be given by counsel for such party. 
 ARTICLE 23. RULES AND REGULATIONS 

23.1. Compliance with Rules and Regulations. Tenant and Tenant’s servants, employees, agents, contractors, subcontractors,
licensees and invitees shall faithfully observe and comply strictly with the rules and regulations for occupancy of the Leased Premises promulgated from time to time by Landlord and communicated in writing by Landlord to Tenant. The current rules
and regulations in effect are attached hereto and made a part hereof as Schedule E. Landlord agrees not to discriminate against Tenant in the enforcement of the rules and regulations. 

23.2. Notice of Change. Landlord shall give Tenant thirty (30) days written notice of any changes in Schedule E or
of any additional rules or regulations to be adopted. 
 23.3. Landlord Under No Duty to Enforce Rules and Regulations.
Landlord has no duty to enforce the rules and regulations or provisions of any other Lease as against any other tenant, and Landlord shall not be liable to Tenant for the violation of such rules, regulations or Leases by any other tenant, its
servants, employees, agents, licensees or invitees. 
 ARTICLE 24. INTENTIONALLY OMITTED 

ARTICLE 25. INSURANCE 

25.1. Required Insurance. Tenant will maintain in full force and effect the following insurance: 

A. Public liability insurance in an amount of $1,000,000 combined single limit death, bodily injury, personal injury and property damage. 

B. “All risk extended coverage insurance” insuring its personal property and improvements to be located on the Leased Premises for
full replacement value against loss by fire, vandalism, malicious mischief and other casualty. 
 C. Worker’s compensation insurance as
required by law. 

  
 30 

 EXECUTION COPY 
  

 25.2. Landlord and Landlord’s Lenders to be Named Additional Insureds.
Tenant’s public liability and property damage insurance (but not as to Tenant’s personal property and equipment) shall name Landlord and Landlord’s Lenders and any public party required to be named, as designated by the holder of any
mortgage on the Property, as an additional insured party. 
 25.3. Waiver of Subrogation. Each policy of “all risk
extended coverage insurance” will contain an agreement by the insurance company waiving its rights to recover against Landlord and each additional insured party named in Section 25.2 for any claims. 

25.4. Notice of Cancellation. Each insurance policy required to be maintained by Tenant hereunder must contain a provision that
the policy may not be canceled or modified without at least ten (10) days’ notice to Landlord. 
 25.5. Insurance
Companies. All insurance required to be maintained by Tenant hereunder will be provided by companies that are licensed to do business in Connecticut and have a Best’s Insurance rating of A- or better
and are otherwise reasonably acceptable to Landlord. 
 25.6. Policies to be Delivered to Landlord. Tenant will give Landlord
an original certificate for each insurance policy before it occupies the Leased Premises and an original certificate of each renewal at least twenty (20) days before the expiration of the policy. 

25.7. Landlord’s Insurance. Landlord will maintain in full force and effect during the Term of this Lease: (i) “all
risk extended coverage” property insurance insuring Building 4 for its full replacement value, and (ii) public liability insurance in an amount of $1,000,000 combined single limit death, bodily injury, personal injury and property damage,
naming Tenant as an additional insured thereunder. Landlord’s policy of “all risk extended coverage insurance” will contain an agreement by the insurance company waiving its rights to recover against Tenant. 

25.8. Mutual Waiver. In extension and not in limitation of the foregoing, each party waives any and all rights of recovery which
each party might otherwise have against the other party as the result of loss or damage to any of property of the waiving party arising from any of the perils insured against under a Standard Connecticut Fire Insurance Policy with extended coverage
and supplemental casualty perils coverage, whether or not such loss or damage is caused in any part by a party’s negligence or neglect, and all insurance policies carried by the parties respecting any property shall be endorsed to state that
the respective insurance carriers have received and accepted notice of the provisions of this Lease and have waived any and all rights of subrogation against the other party that might arise under such policies. 

  
 31 

 EXECUTION COPY 
  

 ARTICLE 26. SERVICES PROVIDED BY LANDLORD 

26.1. Services. Landlord shall provide the following services to Tenant: 

 

	 	A.	Subject to reimbursement under Section 3.2 and 3.4 hereof, as applicable, Landlord shall provide heat, air conditioning, electricity and gas to Building 4 and the Leased Premises; 

 

	 	B.	Landlord shall clean and maintain the common interior portions of Building 4 and, subject to reimbursement under Section 3.2 and 3.4 hereof, provide refuse removal; 

 

	 	C.	Landlord shall keep the roadways, sidewalks and parking areas serving Building 4 and the Leased Premises free from snow, ice and all obstructions, and the grass and shrubbery properly maintained; 

 

	 	D.	Landlord shall maintain and keep in good repair and efficient operation the utility and elevator systems and the fire protection sprinkler systems serving Building 4 and the Leased Premises; 

 

	 	E.	Landlord shall provide heat and air conditioning, as required by health laws, from 8:00 a.m. to 6:00 p.m., Monday through Friday, and 8:00 a.m. to 2:00 p.m. on Saturdays, excluding holidays as set forth on Exhibit C
hereto. 

  

	 	F.	Landlord shall provide hot and cold running water for personal use. Tenant will be billed separately for extraordinary amounts which may be available at Landlord’s sole discretion; and 

 

	 	G.	Landlord shall provide periodic manned security patrols at Building 4. Patrol intervals will be determined at the sole discretion of the Landlord. 

 

	 	H.	Landlord shall provide Tenant with access to Building 4 and the Leased Premises 24 hours a day, 7 days a week, 52 weeks a year. 

  

	 	I.	Landlord shall be responsible, at its sole cost, for compliance with all laws with respect to the Property and Building 4 (excluding the Leased Premises), including, without limitation, ADA, OSHA and local building and
fire codes. 

 26.2. Normal Operating Hours. Normal operating hours for Building 4 will be 8:00 a.m. to 6:00
p.m., Monday through Friday and 8:00 a.m. to 2:00 p.m. on Saturdays, excluding those holidays set forth on Exhibit C hereto. If Tenant desires heating and/or air conditioning at other than normal operating hours (“Additional
Services”), Tenant shall make such request for Additional Services to the applicable contacts set forth on Exhibit D hereto, and Tenant shall provide at least twenty–four (24) hour advance notice. Notwithstanding the foregoing,
Tenant 

  
 32 

 EXECUTION COPY 
  

 
may make emergency requests for Additional Services to the applicable contacts on Exhibit D (each an “Emergency Request”) at any time and best efforts shall be made to accommodate such
Emergency Requests. Tenant will pay the actual costs of the Additional Services including fuel, utilities and any overtime costs incurred by or on behalf of Landlord. As of the date of this Lease, the actual cost per hour of Additional Services is
$35.00, provided, however, that such amount shall change from time to time as the Landlord’s cost of providing such Additional Services changes and such charge will be more if Landlord is responding to an Emergency Request. 

26.3. Services to Other Entities. No extra services shall be provided for the use of any entity other than Tenant without
Landlord’s prior express written consent. 
 ARTICLE 27. ADDITIONAL OBLIGATIONS OF TENANT 

27.1. Reimbursement of Landlord. Tenant shall promptly reimburse Landlord, upon demand, for all reasonable out of pocket
costs of Landlord, including reasonable attorney’s fees, incurred in the enforcement of this Lease and in providing any consent or review of any sublease, mortgage or collateral assignment of Tenant’s Leasehold interest, requested of
Landlord hereunder. 
 27.2. Additional Obligations. In addition to its other obligations under this Lease, Tenant shall at its
expense comply with the following provisions with respect to the Leased Premises: 
  

	 	A.	Tenant shall keep the Leased Premises in good order (subject to Landlord’s obligations set forth in Articles 7 and 26) and free from all refuse, and shall promptly remove all debris, garbage, and refuse of any kind
from the Leased Premises; 

  

	 	B.	Other than as expressly provided otherwise in this Lease, Tenant shall furnish all painting, janitorial and security services for the Leased Premises; 

 

	 	C.	Tenant shall use all possible diligence, in accordance with the best prevailing methods, for the prevention and extermination of vermin, rats, mice or other pests in the Leased Premises; and 

 

	 	D.	Tenant shall contract for and pay for the collection, removal and lawful disposal of all waste at the Leased Premises containing or constituting Hazardous Materials. 

  
 33 

 EXECUTION COPY 
  

 ARTICLE 28. SIGNS 

Tenant may display signs at entrances to Building 4 and entrances to the Premises. The location, size, and overall appearance of any signs
shall be subject to the Landlord’s approval, which approval may be withheld at the sole and absolute discretion of the Landlord. The Tenant shall be listed in all directories maintained by Landlord with respect to Building 4. 

ARTICLE 29. BROKERAGE 

Tenant agrees to indemnify and hold Landlord harmless from and against the claims of any party claiming a fee or commission by, under or
through Tenant on account of this Lease. Pursuant to a separate agreement, Landlord shall compensate Colliers International as Landlord’s representatives. Landlord represents to Tenant that no other broker has an exclusive right to lease space
at the Property and Landlord agrees to indemnify and hold Tenant harmless from and against the clams of any party claiming a fee or commission on the basis that Landlord granted an exclusive listing agreement. 

ARTICLE 30. NOTICE OF LEASE 

Upon the written request of either party, Landlord and Tenant agree to execute and record a statutory notice of Lease as provided in C.G.S. §47-19. 
 ARTICLE 31. SURRENDERING OF LEASED PREMISES 

31.1. Surrender of Leased Premises. Tenant will immediately surrender the Leased Premises upon the expiration or earlier
termination of this Lease for any reason. Tenant shall indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Leased Premises, including, but not limited to, reasonable attorney’s fees and any claims
made by any succeeding tenant founded on such delay. 
 31.2. Condition of Leased Premises. Upon the expiration of the Term or
sooner termination of this Lease, except where the Lease has been terminated because of fire or other casualty, Tenant shall leave the Leased Premises and surrender it to Landlord “broom clean” and in good order, condition and repair,
ordinary wear and tear excepted. 
 31.3. Removal of Tenant’s Property. When Tenant surrenders the Leased Premises to
Landlord, Tenant shall, at Tenant’s expense, forthwith provide Cleaning Certificates remove all personal property of Tenant and that of any other persons claiming under Tenant, from the Leased Premises, Building 4, the Property and the real
property known as “Science Park” of which the Property forms a part. Property not removed by Tenant within forty-eight (48) hours after termination of this Lease shall be deemed abandoned and Landlord may, at Tenant’s expense,
remove the same from the Property and/or at Landlord’s option sell or otherwise dispose of the same with no obligation to remit any portion of the proceeds of any such sale to Tenant. Tenant shall reimburse Landlord upon demand for all
reasonable costs incurred by Landlord in so obtaining Cleaning Certificates or removing and disposing of such property. 

  
 34 

 EXECUTION COPY 
  

 31.4. Holding Over Shall Not Renew Lease. Tenant’s occupancy of the Leased
Premises beyond the Term of this Lease or after termination will not constitute a renewal of the Lease by operation of law or otherwise for any period whatsoever. If Tenant does so occupy the Leased Premises, it shall be deemed to be a tenant at
sufferance only and shall pay Landlord Base Rent and Additional Rent in an amount equal to one hundred fifty percent (150%) of the highest Base Rent and Additional Rent payable hereunder and shall be subject to all other provisions of this Lease.
Regardless of any payment made by Tenant or any payment cycle, no holding over after receipt of notice of termination shall under any circumstances be deemed any more than a tenancy at sufferance. 

ARTICLE 32. ADDITIONAL OBLIGATIONS OF TENANT 

Tenant shall promptly reimburse Landlord, upon demand, for all reasonable out of pocket costs of Landlord, including reasonable
attorney’s fees, incurred in the enforcement of this Lease and in providing any consent or review of any sublease, mortgage or collateral assignment of Tenant’s Leasehold interest, requested of Landlord hereunder. 

ARTICLE 33. TENANT’S WAIVER OF RIGHTS 

In connection with any disputes and legal proceedings arising from this Lease, Tenant waives the following legal rights: 

33.1 PREJUDGMENT REMEDY, REDEMPTION, COUNTERCLAIM AND JURY TRIAL. THE TENANT, FOR ITSELF AND FOR ALL PERSONS CLAIMING THROUGH OR
UNDER IT, HEREBY ACKNOWLEDGES THAT THIS LEASE CONSTITUTES A COMMERCIAL TRANSACTION AS SUCH TERM IS USED AND DEFINED IN SECTION 52-278(A) OF THE CONNECTICUT GENERAL STATUTES, OR ITS SUCCESSOR PROVISIONS IF
AMENDED, AND HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS WHICH ARE OR MAY BE CONFERRED UPON THE TENANT BY SAID ACT TO ANY NOTICE OR HEARING PRIOR TO A PREJUDGMENT REMEDY UNDER SECTIONS 52-278(A) TO 52-278(G), OR THEIR SUCCESSOR PROVISIONS IF AMENDED, INCLUSIVE OF SAID STATUTES. SUCH WAIVER IS INTENDED AS A WAIVER IN ACCORDANCE WITH SECTION 52-278(F) OR ITS SUCCESSOR
PROVISIONS IF AMENDED, OF SAID STATUTES. TENANT FURTHER WAIVES ANY AND ALL RIGHTS WHICH ARE OR MAY BE CONFERRED BY ANY PRESENT OR FUTURE LAW TO REDEEM THE LEASED PREMISES, OR TO ANY NEW TRIAL IN ANY ACTION OF EJECTMENT UNDER ANY PROVISION OF LAW,
AFTER RE-ENTRY THEREUPON, OR UPON ANY PART THEREOF, BY THE LANDLORD, OR AFTER ANY WARRANT TO DISPOSSESS OR JUDGMENT IN EJECTMENT. IF THE LANDLORD SHALL ACQUIRE POSSESSION OF THE LEASED PREMISES BY SUMMARY
PROCEEDINGS, OR IN ANY OTHER LAWFUL MANNER WITHOUT JUDICIAL 

  
 35 

 EXECUTION COPY 
  

 
PROCEEDINGS IT SHALL BE DEEMED A RE-ENTRY WITHIN THE MEANING OF THAT WORD AS USED IN THIS LEASE. IN THE EVENT THAT LANDLORD COMMENCES ANY SUMMARY
PROCEEDINGS OR ACTION FOR NON-PAYMENT OF RENT OR OTHER CHARGES PROVIDED FOR IN THIS LEASE, THE TENANT SHALL NOT INTERPOSE ANY COUNTERCLAIM OF ANY NATURE OR DESCRIPTION IN ANY SUCH PROCEEDING OR ACTION. THE
TENANT AND THE LANDLORD BOTH WAIVE A TRIAL BY JURY OF ANY AND ALL ISSUES ARISING IN ANY ACTION OR PROCEEDING BETWEEN THE PARTIES HERETO OR THEIR SUCCESSORS, UNDER OR CONNECTED WITH THIS LEASE, OR ANY OF ITS PROVISIONS. 

33.2. Waiver of Notice to Quit. The right to a formal demand to leave the Leased Premises upon expiration of this Lease by lapse
of time, known as a “Notice to Quit”, or any other form of notice under §47a-25 of the Connecticut General Statutes, should Landlord use summary process to evict Tenant or regain possession of
the Leased Premises. 
 33.3. Waiver of Right of Reinstatement. Any right, under existing or future law, to gain back the
Leased Premises once Tenant is legally removed (known as “Right of Reinstatement”). 
 ARTICLE 34. EFFECT OF WRITTEN LEASE
AGREEMENT 
 34.1. Written Lease Sole Expression of Parties’ Intent. All understandings, letters of intent or
agreements between Tenant and Landlord, which predate this Lease, are merged in this Lease. No oral statements or representations or prior written communications by or between the parties dealing with this Lease shall be binding or effective. This
Lease is the sole and complete expression of the agreement between Landlord and Tenant as to the subject matter of this Lease. 

34.2. Amendment of Written Lease. This Lease can be modified, altered or amended only by a written agreement signed by both
Landlord and Tenant. 
 ARTICLE 34A. OPTION TO EXTEND; EXPANSION OF LEASED PREMISES. 

34A.1. Option to Extend. Provided Tenant is not in default in its obligations hereunder beyond any applicable cure
period, Tenant shall have the option to extend this Lease for one additional term (hereinafter referred to as the “Extended Term.”) commencing immediately upon the expiration of the initial Term hereof and
continuing for a period of five (5) years, provided that Tenant proceeds strictly in accordance with the provisions of this Article 34A. On or before the date that is one hundred eighty (180) prior to the Expiration Date for the Term (the
“Notice Date”), Tenant shall advise Landlord in writing that Tenant wishes to extend the term of this Lease (hereinafter referred to as “Tenant’s Extension Notice”). If at the time Landlord receives
Tenant’s Extension Notice this Lease is in full force and effect without default on the part of the Tenant beyond any applicable cure period, then, during the next thirty (30) days, Landlord shall notify Tenant in writing of the Base Rent
pursuant to Article 3 of the Lease which shall be due for the Extended Term. The Base Rent specified by Landlord shall be equal to the Landlord’s projected fair market Base Rent as of the commencement of the Extended Term (for comparable space
in comparable buildings in New Haven) (the “FMV Notice”). 

  
 36 

 EXECUTION COPY 
  

 34A.2. Base Rent for Extended Term. The Tenant shall have 21 days after receipt
of the FMV Notice in which to send Landlord a written dispute as to the proposed Base Rent specified in the FMV Notice. If Tenant agrees to pay such new Base Rent or if Tenant does not send a written dispute of the new Base
Rent specified in the FMV Notice within such 21 day period, Tenant shall be deemed to have agreed to pay such Base Rent (in which case this Lease shall be extended for the Extended Term without the execution of any additional documents, and
each and every term and condition of this Lease shall apply during the Extended Term except only that the Base Rent specified in Article 3 of this Lease during the Extended Term shall be that agreed upon by Landlord and Tenant, and the phrase
“term of this Lease” and “Term” shall be construed to include the Extended Term of this Lease and thus the new Expiration Date shall be the last day of the Extended Term). If Tenant sends Landlord a written dispute as to the Base
Rent proposed in the FMV Notice, the Base Rent for the Extended Term shall be determined pursuant to the arbitration system set forth in Article 34A.3 below. 

34A.3. Arbitration of Fair Market Rent. In the event that Tenant sends written notice to Landlord disputing the FMV
Notice and electing arbitration within 21 days of Tenant’s receipt of the FMV Notice, each of Landlord and Tenant shall at its own cost and expense retain a real estate broker, who must have ten (10) years experience in commercial
leasing in the New Haven market, to determine the fair market Base Rent for the Leased Premises as of the commencement date of the Extended Term, which appraisals must be completed and submitted within thirty (30) days of the commencement
of the appraisal process by Tenant’s notice electing arbitration. If the two appraisals are within ten percent (10%) of each other, then the average of the two appraisal amounts shall constitute the Base Rent which shall be due during the
Extended Term. If the two appraisals are not within ten percent (10%) of each other, the two brokers shall select a third real estate broker (who must also possess the minimum qualifications described above), who within the next thirty
(30) days shall select one of the two appraisal amounts which shall then constitute the Base Rent which shall be due during the Extended Term. Landlord and Tenant shall each bear one-half of the cost
of said third broker. The appraisal process shall be binding upon both Landlord and Tenant. 
 34A.4. Failure to Exercise
Option. If Tenant shall fail to give Landlord written notice of Tenant’s exercise of the Extended Term on or before the Notice Date, time being of the essence, Tenant shall have no right to extend this Lease for the Extended Term,
and this Lease shall terminate as provided in Article 3 of this Lease and Tenant shall vacate the Leased Premises on or before the Expiration Date in accordance with the provisions of this Lease. 

ARTICLE 35. SECURITY DEPOSIT. 

35.1. Deposit. At or before Tenant’s execution of this Lease, Tenant shall deposit and maintain with Landlord the
sum of $18,000 as a security deposit and payment and performance guaranty (the “Deposit”). Landlord shall retain said sum throughout the Term of this Lease as security for the faithful performance by Tenant of all of the terms,
covenants and conditions of this Lease. If Tenant defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of Base Rent and/or Additional Rent, in any case beyond applicable notice and
cure periods, Landlord may use, apply or retain all or any part of the Deposit for the payment of any Base Rent and/or Additional Rent, or for the payment of 

  
 37 

 EXECUTION COPY 
  

 
any loss or damage which Landlord may suffer by reason of Tenant’s default, or to compensate Landlord for any other amount which Landlord may spend or become obligated to spend by reason of
Tenant’s default. In no event, except as specifically hereinafter provided, shall Landlord be obliged to apply the same to Base Rent and/or Additional Rent or to damages for Tenant’s failure to perform said covenants, conditions and
agreements; however, Landlord may so apply the Deposit, at its option. Landlord’s right to bring a special proceeding to recover or otherwise to obtain possession of the Premises before or after Landlord’s declaration of the termination of
this Lease for non-payment of Base Rent and/or Additional Rent or for any other reason shall not in any event be affected by reason of the fact that Landlord holds the Deposit. 

35.2. Insolvency; Additional Rights of Landlord. In the event any bankruptcy, insolvency, reorganization or other
creditor-debtor proceedings shall be instituted by or against Tenant, or its successors or assigns, or any guarantor of Tenant hereunder, the Deposit shall be deemed to be applied first to the payment of any Base Rent and/or Additional Rent for all
periods prior to the institution of such proceedings, and the balance, if any, of the Deposit may be retained by Landlord in partial liquidation of Landlord’s damages. The Deposit shall not constitute a trust fund, the Landlord shall not be
obligated to keep the Deposit as a separate fund but may commingle the Deposit with its own funds and Tenant shall not be entitled to interest on the Deposit. In the event Landlord applies the Deposit in whole or in part, Tenant shall, within five
(5) days after demand by Landlord, deposit sufficient funds to maintain the Deposit in the initial amount. Failure of Tenant to deposit such additional funds shall entitle Landlord to avail itself of the remedies provided in this Lease for non-payment of Base Rent and/or Additional Rent by Tenant. 
 35.3. Return of Deposit; Successor
Landlord. If Tenant fully and faithfully performs every provision of this Lease to be performed by it, the Deposit or any balance thereof, less any sums then due Landlord from Tenant under this Lease, shall be returned to Tenant (or, at
Landlord’s option to the last assignee of Tenant’s interest thereunder) within thirty (30) days following the last to occur of (i) the passage of the Expiration Date, (ii) Tenant’s vacating the Leased Premises, and
(iii) the receipt by Landlord of all Cleaning Certificates and manifests with respect to the cleaning of the Leased Premises and remaining furnishings, fixtures and equipment required pursuant to Article 8.7 hereof. In the event that Cleaning
Certificates and manifests which are satisfactory to Landlord both in form and substance are not received by Landlord within thirty (60) days of the Expiration Date, Landlord shall be authorized to utilize the Deposit to engage such appropriate
contractors to perform Tenant’s obligations under Article 8.7 hereof. In the event of a sale or other transfer of Building 4, or Landlord’s interest in this Lease, Landlord shall transfer the Deposit to the transferee, and Landlord shall
thereupon be released from all liability for the return of the Deposit; Tenant agrees to look solely to the transferee for the return of any such security and it is agreed that the provisions of this sentence shall apply to every sale or transfer of
Building 4 or Landlord’s interest in this Lease by Landlord named herein or its successors, and to every transfer or assignment made of any such Deposit. Any transferee shall be deemed to have agreed that the Deposit transferred to such
transferee pursuant to this Section shall be held in trust for the purposes of this Article. 

  
 38 

 EXECUTION COPY 
  

 ARTICLE 36. INTERPRETATION OF LEASE 

36.1. Partial Invalidity. If any of the provisions of this Lease, or its application, is held by any court or in arbitration to
be invalid or inapplicable, such decision shall not affect any other term, provision, covenant or condition of this Lease. Notwithstanding the foregoing, if the invalid provision has the effect of reducing the Base Rent and/or Additional Rent to be
paid by Tenant, Landlord may cancel this Lease. 
 36.2. Article and Section Captions. Article and section captions will not
be given any effect in determining the meaning of this Lease. 
 36.3. Governing Law. The laws of the State of Connecticut
will govern the interpretation of this Lease. 
 36.4. Successors and Assigns. This Lease shall be binding upon the parties
hereto and upon their heirs, administrators, executors, successors and assigns. 
 36.5. Continuing Obligations.
Notwithstanding anything to the contrary contained herein, all of Tenant’s and Landlord’s respective rights, remedies, obligations and liabilities under this Lease shall survive the Expiration Date or the earlier termination of this Lease
for any reason. 
 36.6. Landlord’s Liability. In the event of a ground lease, sale, transfer or conveyance by Landlord
of Building 4, the same shall operate to release Landlord from any future liability for any of the obligations, covenants or conditions, express or implied, herein contained, provided the purchaser, ground lessee or transferee assumes
Landlord’s obligations and covenants hereunder. In such event, Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. 

Landlord and Landlord’s officers, directors, shareholders and agents shall have absolutely no personal liability with respect to any
provision of this Lease or any obligation or liability arising from this Lease or in connection with this Lease in the event of a breach or default by Landlord on any of its obligations. Tenant shall look solely to the equity of the Landlord in the
Leased Premises at the time of the breach or default for the satisfaction of any remedies of Tenant, and shall have no recourse against any other assets of Landlord or against any assets of any officer, director, shareholder or agent of Landlord.
Such exculpation of liability shall be absolute and without any exception whatsoever. 
 36.7 Counterparts. This Lease may be
executed in counterparts and each counterpart shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. 

[The signature pages immediately follow.] 

  
 39 

 EXECUTION COPY 
  

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals as of the day
and year first above written. 
 Signed, Sealed and Delivered 

In the Presence of: 
  

									
		 		 	TENANT:
			
	 	 		 	PRECIPIO, Inc.
					
		 	 	 		 	By:	 	/s/ A. Zaki Sabet
		 		 		 		 	Name: A. Zaki Sabet
		 		 		 		 	Title: COO
			
		 		 	LANDLORD:
			
	 	 		 	SCIENCE PARK DEVELOPMENT CORPORATION
					
		 	 	 		 	By:	 	/s/ Clio Nicolakis
		 		 		 		 	Clio Nicolakis
		 		 		 		 	Executive Director & Controller

  
 40 

 EXECUTION COPY 
  

					
	STATE OF CONNECTICUT	 	)	  	
		 	) ss.: New Haven	  	July 11, 2017
	COUNTY OF New Haven	 	)	  	

 On this date personally appeared before me A. Zaki Sabet, who acknowledged himself to be the duly authorized
COO of Precipio, Inc., a Delaware corporation, and that the execution hereof was the free act and deed of such limited liability company and his/her free act and deed as such officer. 

IN WITNESS WHEREOF, I hereunto set my hand. 
  

	
	/s/ Jessie Cruz
	Commissioner of the Superior Court/ Notary Public

  

					
	STATE OF CONNECTICUT	 	)	  	
		 	) ss.: New Haven	  	July 11, 2017
	COUNTY OF NEW HAVEN	 	)	  	

 On this date personally appeared before me Clio Nicolakis, who acknowledged himself to be the duly authorized
Executive Director & Controller of Science Park Development Corporation, a corporation, and that the execution hereof was the free act and deed of such corporation and his/her free act and deed as such officer. 

IN WITNESS WHEREOF, I hereunto set my hand. 
  

	
	/s/ Jessie Cruz
	Commissioner of the Superior Court/ Notary Public

  
 41 

 EXECUTION COPY 
  

 EXHIBIT A 

LEGAL PROPERTY DESCRIPTION—BUILDING 4, WINCHESTER AVENUE 

A certain piece or parcel of land located in the City and County of New Haven and State of Connecticut containing 28,914 square feet and being
sown on a map entitled “Property Survey ALTA/ACSM Land Title Survey Building 4 A.K.A. Reuse Parcel SP-1-C-2 Winchester
Avenue, New Haven, Connecticut Prepared for Lyme Properties, LLC”, by URS, scale 1”=20’, dated October 2000, said parcel being more particularly bounded and described as follows: 

Beginning at a point on the easterly street line of Winchester Avenue, said point being on the division line between land now or formerly of
Science Park Development Corporation, Parcel SP-1-C-1, on the north and the herein described parcel on the south; 

Thence running South 75° 38’ 10” East, 333.76 feet and South 13° 50’ 00” West, 86.53 feet along land now or
formerly of Science Park Development Corporation, Parcel SP-1-C-1; 

Thence running North 75° 38’ 10” West, 33-58 feet along land now or formerly of Science
Park Development Corporation, Building 5; 
 Thence running North 14° 22’ 30” East, 86.53 feet along the easterly street line
of Winchester Avenue to the point and place of beginning. 
 Together with rights and benefits set forth in Agreement Regarding Winchester
Avenue between Olin Corporation and Repeating Arms Company dated July 20, 1981 and recorded in Volume 2922 at Page 278 and Agreement dated May14, 1984 and recorded in Volume 3211 at Page 202 of the New Haven Land Records. 

  
 42 

 EXECUTION COPY 
  

 EXHIBIT B 

Page 1 of 2 
  

					
	I.	 	DAILY SERVICES — TENANT SPACE:
			
		 	1.	  	Empty and clean all ashtrays and waste baskets.
		 	2.	  	 Vacuum all carpet, and spot clean as needed.

		 	3.	  	 Sweep and dust clean composition floors with treated mops.

		 	4.	  	 Remove trash generated by normal daily business activity to designated areas.

		 	5.	  	 Remove all cardboard to proper recycle dumpster.

		 		  	 Note: All cardboard to be broken down flat.

		 	6.	  	 Dust all desks, tables, files, cabinets, chairs, picture frames, top of office partitions,
horizontal surfaces and clean glass tops.

		 	7.	  	 Dust all paneling with appropriate cleaning products.

		 	8.	  	 Clean all counter, door and partition glass.

		 	9.	  	 Damp mop spillage.

		 	10.	  	 Spot clean wood work, doors, walls, granite floors and carpet stains.

		
	II.	 	DAILY SERVICES — COMMON AREAS:
			
		 	1.	  	Sweep and wet mop composition floors.
		 	2.	  	 Spot clean carpeting or tile floor as needed.

		
	III.	 	WEEKLY SERVICES — TENANT SPACE AND COMMON AREAS:
			
		 	1.	  	Clean all telephones.
		 	2.	  	 Dust baseboards and window sills.

		
	IV.	 	QUARTERLY SERVICES — TENANT SPACE AND COMMON AREAS:
			
		 	1.	  	Dust door frames, high ledges, high files, ventilating, air conditioning outlets, and return air inlet grills.
		 	2.	  	 Dust window blinds (where installed).

		 	3.	  	 Scrub and wax all vinyl tile floor areas.

		 	4.	  	 Clean all sinks and counter areas.

		
	V.	 	DAILY SERVICES — REST ROOM AREAS:
			
		 	1.	  	Empty all wastepaper containers.
		 	2.	  	 Clean and polish all mirrors.

		 	3.	  	 Clean all lavatory fixtures.

		 	4.	  	 Keep sinks, toilet bowls, and urinals free of scale at all times.

		 	5.	  	 Wash and sanitize underside and tops of toilet seats, toilet fixtures and
compartments.

		 	6.	  	 Refill soap, towel and tissue containers (using standard Building stock only).

		 	7.	  	 Wipe down walls around sink counter area, toilets and urinal compartments.

		 	8.	  	 Sweep and wet mop all lavatory floors.

		 	9.	  	 Dust all horizontal surfaces.

		 	10.	  	 Empty, clean and disinfect sanitary napkin
disposals.

  
 43 

 EXECUTION COPY 
  

					
	VI.	 	WEEKLY SERVICES — REST ROOM AREAS:
			
		 	1.	  	Wash down ceramic tile walls.
		 	2.	  	 Fill floor drain traps with water.

		 	3.	  	 Brush down ceiling vents.

		 	4.	  	 Wash down shower rooms.

		
	VII.	 	MONTHLY SERVICES — REST ROOM AREAS:
			
		 	1.	  	Machine scrub all restroom floors.
		 	2.	  	 Perform high dusting.

		
	VIII.	 	DAILY SERVICE — STAIRWELLS:
			
		 	1.	  	Police and sweep all stairwells.

  
 44 

 EXECUTION COPY 
  

 EXHIBIT B 

Page 2 of 2 
  

					
	IX.	 	WEEKLY SERVICE — STAIRWELLS:
			
		 	1.	  	Sweep and wet mop all stairwells.
		
	X.	 	DAILY SERVICE — BUILDING ENTRANCE LOBBY AREA:
			
		 	1.	  	Sweep or vacuum all floors and entrance mats with proper equipment.
		 	2.	  	 Dust directory boards.

		 	3.	  	 Clean entrance doors, door glass and side lights.

		 	4.	  	 Empty and clean ashtrays and sand urns.

		 	5.	  	 Scrub and polish drinking fountains.

		 	6.	  	 Spot clean walls to remove finger marks, smudges and spillage.

		 	7.	  	 Wipe down metal reachable surfaces.

		 	8.	  	 Sweep and wet mop stone and wood floors.

		
	XI.	 	WEEKLY SERVICE — BUILDING ENTRANCE LOBBY AREA:
			
		 	1.	  	Shampoo and extract entrance mats (more often if necessary).
		 	2.	  	 All entrance mats to be rolled up and swept and wet mopped underneath two (2) times per
week.

		
	XII.	 	DAILY SERVICE — ELEVATORS:
			
		 	1.	  	Vacuum elevator carpets daily and spot clean same as necessary.
		 	2.	  	 Clean elevator cabs and wash walls.

		 	3.	  	 Vacuum tracks and saddles.

		 	4.	  	 Dust and polish elevator controls, dispatch panels and exhaust fan vent.

		 	5.	  	 Spot clean walls by outside elevator call buttons.

		 	6.	  	 Wipe down elevator car doors.

		
	XIII.	 	MONTHLY SERVICE — ELEVATORS:
			
		 	1.	  	Shampoo and extract elevator carpets.
		 	2.	  	 Polish door tracks and saddles.

		
	XIV.	 	WEEKLY SERVICE — JANITORIAL STORAGE AND SINK AREAS
			
		 	1.	  	Inventory cleaning supplies and report any needs to building management.
		 	2.	  	 Clean and organize storage areas appropriately.

		 	3.	  	 Clean, disinfect and rinse slop sinks.

  
 45 

 EXECUTION COPY 
  

 EXHIBIT C 

Holidays: 
 Martin Luther King, Jr. Day 

President’s Day 
 Good Friday 

Memorial Day 
 Independence Day 

Labor Day 
 Columbus Day 

Thanksgiving Day 
 Day after Thanksgiving 

Christmas Day 
 New Year’s Day 

  
 46 

 EXECUTION COPY 
  

 EXHIBIT D 

Additional Services Contacts: 
 Contact info for service
requests/maintenance issues: 
 The Wm. M Hotchkiss Company 

Science Park Facilities Supervisor: Rick Matosian(203) 624-1242 

rmatosian@wmmhotchkiss.com 
 Contact for business
matters and lease issues: 
 The Wm. M Hotchkiss Company 

Property Manager: Gary Poitras 

(203) 772-3200 

gpoitras@wmmhotchkiss.com 

  
 47 

 EXECUTION COPY 
  

 SCHEDULE A 

FLOOR PLAN OF LEASED PREMISES 
  

 

  
 48 

 EXECUTION COPY 
  

 SCHEDULE B 

TENANT’S WORK 
 NONE

  
 49 

 EXECUTION COPY 
  

 SCHEDULE C 
  

					
		  	TENANT’S EQUIPMENT	  	Page 1 of 2

  

					
	 Equipment
	  	 Vendor
	  	 Catalog #

	Coulter Gallios	  	Beckman Coulter	  	
			
	Refrigerator/Freezer	  	Home Depot	  	
	Cytospin	  	Fisher	  	A78300002
	Centrifuge—Thermo Fisher	  	Fisher	  	75004221
	Vortex—M16700 Maxi Mix	  	lab depo	  	M63215
	Rocker—Unico TTR 300D	  	medicus-health	  	5265M4

  

					
	 Equipment
	  	 Company
	  	 Order #

	Cytovision FISH Module with Microscope	  	Leica	  	
	Thermobrite Elite	  	Leica	  	
	GSL 120 Autoscanner	  	Leica	  	
			
	Fume hood	  	Fisher Scientific	  	10-090-100
	Biological Hood	  	Fisher Scientific	  	09-681-110
	Dual Stack Incubator (2 in 1)	  	Fisher Scientific	  	20-137-0
	Oven 1 (baking)	  	Fisher Scientific	  	11-475-132
	Freezer	  	Home Depo	  	
	Fridge	  	Home Depo	  	
	Water Bath 1	  	Fisher Scientific	  	15-474-15
	Water Bath 2	  	Fisher Scientific	  	15-474-15
	Water Bath 3	  	Fisher Scientific	  	15-474-15
	centrifuge	  	Beckman Coulter	  	
	phase Microscope	  	Fisher Scientific	  	12-561-2FAZ
	Slide Warmer	  	Fisher Scientific	  	
	ThermoBrite	  	Abbott Molecular	  	
	MicroCentrifuge	  	Fisher Scientific	  	
	Vortex	  	Fisher Scientific	  	
	pH meter	  	Fisher Scientific	  	
	Balance	  	Fisher Scientific	  	
	stirrer	  	Fisher Scientific	  	

  
 50 

 EXECUTION COPY 
  

 SCHEDULE C 
  

					
		  	TENANT’S EQUIPMENT	  	Page 2 of 2

  

					
	 Equipment
	  	 Vendor
	  	 Catalog #

	Embedding Station — Leica EG1150	  	Leica	  	
	AXL 100-120 (H&E Stainer)	  	Leica	  	
	CV5030-TS5015 (Coverslip)	  	Leica	  	
	Automated Microtome—Leica	  	Leica	  	
		  		  	
		  		  	
		  		  	
		  		  	
	Processor—VIP	  	Leica	  	
	Water bath—Leica 3804535S	  	Leica	  	
	Oven	  	-	  	EW-05014-03
	Double door Refrigerator	  	Home Depot	  	
	Fireproof cabinets	  	-	  	

  
 51 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 1 of 6

  

					
	 Antibodies
	  	 Vendor
	  	 Catalog #

	 Cyclin D1-FITC
	  	 B-D
	  	 554109

	 7-AAD
	  	 Beckman
	  	 IM3422

	 CD103-FITC
	  	 Beckman
	  	 IM1856U

	 CD10-ECD
	  	 Beckman
	  	 IM3608U

	 CD10-PC5
	  	 Beckman
	  	 IM2721

	 CD117-PC5
	  	 Beckman
	  	 IM2733U

	 CD11b-PE
	  	 Beckman
	  	 IM2581

	 CD11c-PE
	  	 Beckman
	  	 IM1760U

	 CD138-PC5
	  	 Beckman
	  	 A40317

	 CD13-PC5
	  	 Beckman
	  	 IM2639U

	 CD14-ECD
	  	 Beckman
	  	 IM2707

	 CD15-PE
	  	 Beckman
	  	 IM1954

	 CD16-FITC
	  	 Beckman
	  	 IM0814U

	 CD16-PC5
	  	 Beckman
	  	 IM2642U

	 CD19-ECD
	  	 Beckman
	  	 IM2708U

	 CD19-PC5
	  	 Beckman
	  	 IM2643U

	 CD20-FITC
	  	 Beckman
	  	 IM1455U

	 CD23-ECD
	  	 Beckman
	  	 IM3609U

	 CD25-PC5
	  	 Beckman
	  	 IM2646U

	 CD2-PC5
	  	 Beckman
	  	 IM2634U

	 CD33-PE
	  	 Beckman
	  	 IM1179U

	 CD34-ECD
	  	 Beckman
	  	 IM2709u

	 CD38-FITC
	  	 Beckman
	  	 IM0775

	 CD38-PC5
	  	 Beckman
	  	 IM2651U

	 CD38-PE
	  	 Beckman
	  	 IM2371U

	 CD3-ECD
	  	 Beckman
	  	 IM2705U

	 CD45 ECD
	  	 Beckman
	  	 IM2710U

	 CD45-FITC
	  	 Beckman
	  	 IM0782U

	 CD45-PC5
	  	 Beckman
	  	 IM2653U

	 CD45-PC7
	  	 Beckman
	  	 IM3548U

	 CD45-PE
	  	 Beckman
	  	 IM2078U

	 CD4-PE
	  	 Beckman
	  	 IM0449U

	 CD56-PC5
	  	 Beckman
	  	 IM2654U

	 CD56-PE
	  	 Beckman
	  	 IM2073

	 CD57-FITC
	  	 Beckman
	  	 IM0466U

	 CD5-FITC
	  	 Beckman
	  	 IM0468

	 CD5-PC5
	  	 Beckman
	  	 IM2637U

	 CD64-FITC
	  	 Beckman
	  	 IM1604

	 CD79b-PE
	  	 Beckman
	  	 IM1612U

	 CD7-PE
	  	 Beckman
	  	 IM1429U

	 CD8-FITC
	  	 Beckman
	  	 IM0451U

  
 52 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 2 of 6

  

					
	 Antibodies
	  	 Vendor
	  	 Catalog #

	CD8-PE	  	Beckman	  	IM0452U
	FMC7-FITC	  	Beckman	  	IM1364U
	HLA-DR-FITC	  	Beckman	  	IM1638U
	Kappa-FITC	  	Beckman	  	A64828
	Lambda-PE	  	Beckman	  	A64827
	MPO	  	Beckman	  	IM1874
	TCR PAN—G/D FITC	  	Beckman	  	IM1571
	CD33-PC5	  	Beckman	  	IM2647U
	TCR PAN—A/B PE	  	Biolegend	  	306710
	IgA for Flow	  	Fisher	  	F018801F
	IgG for Flow	  	Fisher	  	F018501F
	IgM for Flow	  	Fisher	  	F005801F
	Kappa-FITC (Cytoplasmic)	  	Fisher	  	F043401F
	Lambda-PE (Cytoplasmic)	  	Fisher	  	R043701F
	TdT-FITC	  	Invitrogen	  	MHTDT01-5
	Zap70-PE	  	Invitrogen	  	MHZAP7004
	CD24-PE	  	Invitrogen	  	MHCD2404
	CD55-PE	  	Invitrogen	  	MHCD5504
	CD59-PE	  	Invitrogen	  	MHCD5904
	TdT control cell Positive	  	Phoenix Flow Systems	  	CRTD-10
	Flaer (Alexa 488 proaerolysin variant)	  	Pinewood Scientific Services	  	FL1
			
	 Reagents
	  	 Vendor
	  	 Catalog #

	Coulter Cleanse	  	Beckman	  	8546931
	Cytocomp Kits	  	Beckman	  	6607023
	Flow Check	  	Beckman	  	6605359
	Flow Count	  	Beckman	  	7547053
	Flow set	  	Beckman	  	6607007
	IMMUNO-BRITE Standards Kit	  	Beckman	  	6603473
	Iso Flow Sheath Fluid	  	Beckman	  	8547008
	LYSING KIT	  	Beckman	  	6603152
	Bovine Albumin Serum	  	Invitrogen	  	16170-060
	Fixation & Permeabllization	  	Invitrogen	  	GAS-004
	water, deionized	  	Fisher	  	23-751628

  
 53 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 3 of 6

  

					
	 Reagents
	  	 Vendor
	  	 Catalog #

	Acetic Acid, Glacial	  	Cardinal	  	V193-45
	Giemsa stain	  	Cardinal	  	620-75 1L
	Methyl alcohol, ASC Poly	  	Cardinal	  	3016-16
	PH 7.0 Buffer	  	Cardinal	  	H7590-7
	Sodium hydroxide 10N	  	Cardinal	  	5674-02
	Trypsin 0.25%	  	Cardinal	  	0152-17
	Buffer tablets ( GURR )—P.H.6.8	  	Invitrogen	  	10582-013
	Colcemid	  	Invitrogen	  	15212-012
	Ethidium Bromide, UltraPureTM 10 mg/ml	  	Invitrogen	  	15585-011
	Fetal Bovine serum Qualified	  	Invitrogen	  	10437-028
	L-Glutamine-200mM	  	Invitrogen	  	25030-081
	Penicillin	  	Invitrogen	  	15070-063
	PHA	  	Invitrogen	  	10576-015
	RPMI Medium 1640	  	Invitrogen	  	21870-076
	Hydron Buffer capsule 7.0	  	Micro Essential lab	  	270-7.00
	Ethyl alcohol	  	Pharmco	  	200 Proof—24 pints
	HCL (36.5-38%)—12N	  	Sigma-Aldrich	  	H1758-500ml
	Itnerleukin-2	  	Sigma-Aldrich	  	I-7908-10KU
	potassium chloride	  	Sigma-Aldrich	  	P8041-1KG
	sodium chlorite	  	Sigma-Aldrich	  	S9625-500G
	TPA	  	Sigma-Aldrich	  	p8139-5mg
	LSI ATM/P53	  	Leica	  	32-191025
	LSI BCL 2/Igh	  	Leica	  	32-191018
	LSI BCL 6	  	Leica	  	01N23-020
	LSI BCR/ABL Dual color fusion probe	  	Leica	  	32-191032
	LSI CBFB (inv 16)	  	Leica	  	32-191008
	LSI CEP 8 SG	  	Leica	  	06J37-018
	LSI CEP17	  	Leica	  	06J37-027
	LSI CEP3	  	Leica	  	06J36-013
	LSI CEP9 SPECTRUM Aqua prob	  	Leica	  	06J54019
	LSI CEPX SG,CEPY SO	  	Leica	  	32-131051
	LSI CSF1R/D5S23	  	Leica	  	32-191001
	LSI D7s486/cep7	  	Leica	  	32-191002
	LSI Eto/Aml	  	Leica	  	32-191006
	IGH	  	Leica	  	32-191019

  
 54 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 4 of 6

  

					
	 Reagents
	  	 Vendor
	  	 Catalog #

	IGH SG/FGFR 3 SO	  	Leica	  	32-191023
	IGH/CCND1	  	Leica	  	32-191015
	IGH/MYC/CEP8	  	Leica	  	32-191020
	LSI 1p36/LSI 1q25	  	Leica	  	32-231011
	LSI API2/MALT1	  	Leica	  	32-231007
	LSI buffer, 2x500ul	  	Leica	  	06J67-011
	LSI D13S319SO/13Q34SG	  	Leica	  	01N20-020
	LSI D20S108SO	  	Leica	  	05J47-011
	LSI BCR/ABL ES dual color	  	Leica	  	05J78-001
	LSI MLL	  	Leica	  	32-190083
	LSI MYB	  	Leica	  	07j86.011
	LSI P53 SO	  	Leica	  	05J52-011
	LSI PML/RARA	  	Leica	  	32-191013
	LSI TEL/AML1	  	Leica	  	32-191005
	LSI FIP1L1/CHIC2/PDGFRA	  	Cytocell	  	LPH032
	potassium chloride	  	Sigma-Aldrich	  	P8041-1KG
	Distilled water	  	Invitrogen	  	15230-196
	SSC (20x)	  	Leica	  	32-804850
	NP-40	  	Leica	  	32-804818
	DAPI II	  	Leica	  	32-804831
	CD16 7ml predil	  	Abcam	  	ab74512
	CD123 (IL3RA) 100ug	  	Abcam	  	ab53695
	Activated Carbon	  	BelAir	  	3750
	AFP, 7ml predilute	  	Cell Marque	  	203A-18
	Bcl 1, 0.5ml conc.	  	Cell Marque	  	241R-15
	Bcl 2, 7ml predilute	  	Cell Marque	  	226M-98
	BCL 6, 0.5ml conc.	  	Cell Marque	  	227M-95
	CD10, 1ml conc.	  	Cell Marque	  	110M-16
	CD138, 1ml conc	  	Cell Marque	  	138M-16
	CD21—0.5ml conc	  	Cell Marque	  	121R-15
	CD23—0.5ml	  	Cell Marque	  	123M-15
	CD3—1ml conc	  	Cell Marque	  	103A-76
	CD30—7ml predilute	  	Cell Marque	  	130M-98
	CD35—7ml predilute	  	Cell Marque	  	135M-18
	CD4, 7 ml predilute	  	Cell Marque	  	104R-18
	CD43, 0.5ml conc	  	Cell Marque	  	143M-15
	CD44, MRQ13, 7ml predilute	  	Cell Marque	  	144M-98
	CD45, 0.5ml conc	  	Cell Marque	  	145M-95

  
 55 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 5 of 6

  

					
	 Reagents
	  	 Vendor
	  	 Catalog #

	CD 5, 1ml conc	  	Cell Marque	  	CMC018
	CD56, 0.5 ml conc	  	Cell Marque	  	156M-85
	CD68, 0.5 ml conc	  	Cell Marque	  	168M-95
	CD7 predilute	  	Cell Marque	  	107M-18
	CD79a, 0.5ml conc.	  	Cell Marque	  	179M-95
	Glycophorin A 0.5ml conc	  	Cell Marque	  	260M-15
	IgA, 0.5 ml conc	  	Cell Marque	  	267A-15
	IgG, 0.5 ml conc	  	Cell Marque	  	269A-15
	IgM 0.5 ml conc	  	Cell Marque	  	270A-15
	Kappa, 0.5ml conc	  	Cell Marque	  	274M-95
	Lambda	  	Cell Marque	  	277M-96
	PCK (AE1/AE3), 0.5ml conc	  	Cell Marque	  	313M-15
	TdT, predilute	  	Cell Marque	  	338A-78
	AmyloidA	  	Dako	  	M0759
	Antibody Diluent	  	Dako	  	S0809
	CD117 0.2ml conc	  	Dako	  	A4502
	CD20	  	Dako	  	M0755
	Ki67	  	Dako	  	M7240
	AFB special stains	  	Fisher	  	23-900-660
	Decalcifying Solution	  	Fisher	  	22-050-263
	Formalin, buffered	  	Fisher	  	SF93 20
	Hyde-away Aldehyde	  	Fisher	  	435578
	Methyl alcohol, ASC Poly	  	Fisher	  	A433F
	Histoprep Rgnt ALC 1GAL	  	Fisher	  	HC6001GAL
	Permount, cs of 6	  	Fisher	  	sP15-500
	Paraplast (1kg) 8/case	  	Fisher	  	23-021399
	Potassium Ferrocyanide	  	Fisher	  	P236-500
	Ribbon pro mounting medium-Fisher brand	  	Fisher	  	23-031557
	DBA44 (Hairy Cell Lukemia) 6ml	  	Fisher	  	MA1-26274
	Diastase kit	  	Polyscientific	  	s174p
	nuclear fast-red	  	Polyscientific	  	S248-32oz
	3-Step Stain Fixative	  	Richard Allan	  	3303
	3-Step Stain sol’n A	  	Richard Allan	  	3313
	3-Step Stain Sol’n B	  	Richard Allan	  	3323
	Bluing	  	Richard Allan	  	7301
	Clarifier	  	Richard Allan	  	7401
	Eosin-Y	  	Richard Allan	  	7111
	Hematoxylin	  	Richard Allan	  	7211
	buffer, Phosphate PH.7.0 Geimsa	  	Rowley Biochemical	  	B-154-2
	Giemsa stock sol’n 1 quart	  	Rowley Biochemical	  	B-154-3

  
 56 

 EXECUTION COPY 
  

 SCHEDULE D 
  

					
		  	CHEMICALS AND HAZARDOUS MATERIALS	  	Page 6 of 6

  

					
	Paraclear-5 gallons cube	  	Scientific Device Laboratory	  	615-5
	HCL (36.5-38%)—12N	  	Sigma-Aldrich	  	H1758-500ml
	L’absorbs Large	  	Surgipath	  	03240
	L’absorbs Small	  	Surgipath	  	03242
	Cleaning kit	  	Ventana	  	860-016
	Iron Staining kit	  	Ventana	  	860-009
	Metal Extraction System, Kit Pack, HMES,	  	Roche	  	860-104
	pas staining kit	  	Roche	  	860-014
	Reticulum II staining kit	  	Roche	  	860-024
	Special stainer cover slip liquid	  	Roche	  	250-009
	special stain wash buffer	  	Roche	  	860-015
	Vapor Trap	  	Roche	  	860-101
	Bioitin Blocking, Endogenous Kit	  	Roche	  	760-050
	Bluing Reagent	  	Roche	  	760-2037
	CD1a	  	Roche	  	760-4244
	CD2	  	Roche	  	760-4377
	CD15	  	Roche	  	760-2504
	CD21	  	Roche	  	760-4245
	CD 30	  	Roche	  	790-2926
	CD 31	  	Roche	  	760-4246
	CD 34	  	Roche	  	790-2927
	CD35	  	Roche	  	760-4247
	CD 57	  	Roche	  	760-2626
	CD61	  	Roche	  	760-4249
	CD68 confirm Ab	  	Roche	  	790-2931
	CD8	  	Roche	  	760-4250
	EZ prep	  	Roche	  	950-102
	FactVIII predilute	  	Roche	  	760-2642
	Hematoxylin II	  	Roche	  	790-2208
	Optiview detection kit	  	Roche	  	760-091
	LCS	  	Roche	  	650-010
	Lysozyme predilute	  	Roche	  	760-2656
	Myeloperoxidase	  	Roche	  	760-2659
	Negative ctrl Mouse	  	Roche	  	760-2014
	reaction buffer	  	Roche	  	950-300
	Red Counter Stain II	  	Roche	  	780-2218
	temp verifier slides	  	Roche	  	970-021
	water, deionized	  	Fisher	  	23-751628

  
 57 

 EXECUTION COPY 
  

 SCHEDULE E 

RULES AND REGULATIONS 
 1.
No sign, signal, advertisement, notice or other lettering, except as allowed in the Lease, shall be exhibited, inscribed, painted or affixed by any tenant on any part of the outside of the Leased Premises or inside of the Building without the prior
written consent of Landlord. No signs, advertisements or notices shall be painted or affixed on or to any windows or doors, or other parts of the Building, except of color, size and style and in such places as shall be first approved in writing by
Landlord. Interior signs on doors and directory tablet shall be inscribed, painted or affixed by each tenant at Tenant’s expense and shall be of a size, color and style acceptable to Landlord. Tenant agrees that any door or directory signage
shall be removed at the end of the Lease Term and all doors and walls will be restored to their original conditions. All signs that are contracted for by Landlord will be at the rate fixed by Landlord from time to time and Tenant will be billed and
will pay for such service accordingly. 
 2. Tenant will refer to Landlord all contractors, contractors’ representatives and
installation technicians rendering any service to Tenant for Landlord’s supervision, approval and control before performance of any contractual service. Except for the hanging of pictures, no boring, cutting or stringing of wires shall be
permitted, except with the prior written consent of Landlord and as Landlord may direct. This provision shall apply to all work performed in the Building including installations of telephones, telegraph equipment, electrical devices and attachments
and installations of any nature affecting floors, walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of the Building. 

3. The Landlord shall designate appropriate entrances for the moving to or from the Building, of equipment, materials, supplies, furniture or
other property, and Tenant shall not use any other entrances or elevators for such purposes, except as designated by Landlord. Movement in or out of the Building of furniture or office equipment or dispatch or receipt by Tenant of any merchandise or
materials which require use of elevators or stairways or movement through Building entrances or lobby shall be restricted to hours designated by Landlord. All such movement shall be under the supervision of Landlord and in the manner agreed between
Tenant and Landlord by arrangement before performance. Such pre-arrangement initiated by Tenant will include determination by Landlord and subject to its decision and control as to the time, method and routing
of movement and as to limitations imposed for safety or other concerns which may prohibit any article, equipment or any other item from being brought into the Building. Tenant is to assume all risk as to damage to articles moved and injury to
persons or public engaged or not engaged in such movement, including equipment, property and personnel of Landlord, if damaged or injured as a result of acts in connection with carrying out this service for Tenant from the time of entering the
Property to completion of work. 
 Landlord shall not be liable for the acts of any person engaged in, or any damage or loss to, any of said
property or persons resulting from any act in connection with such service performed for Tenant, unless performed by Landlord, its agents, employees or contractors. 

4. Tenant shall not deface any part of the Leased Premises, Building or Property. 

  
 58 

 EXECUTION COPY 
  

 5. No portion of the Leased Premises or of any other part of the Building shall at any time
be used for cooking (except in designated areas), or occupied for lodging or sleeping, or for any immoral or illegal purpose, or for any purpose that will damage the Property or the reputation thereof or for any purpose other than that specified in
the Lease covering the Leased Premises. 
 6. Tenant shall not place, install or operate on the Leased Premises or in any other part of the
Building or on the grounds any engine or machinery or maintain, use or keep any flammable, explosive or hazardous material without the prior written consent of Landlord. 

7. Landlord will not be responsible for lost or stolen personal property, equipment, money or jewelry from Tenant’s area or public rooms
regardless of whether or not such loss occurs when the area is locked against entry. 
 8. No birds or animals shall be brought into or kept
in or about the Building, without permission of Landlord, except as necessary for Tenant’s conduct of business on the Leased Premises. Tenant shall at its sole expense comply with all federal, state and local laws, ordinances, codes and
regulations applicable to the presence of such birds or animals on the Leased Premises. 
 9. Tenants shall not hire or employ employees of
Landlord without Landlord’s prior express written consent. Tenants shall not give gifts of money or property to employees of Science Park or its agents. 

10. Landlord will not permit entrance to the Leased Premises by use of pass keys controlled by Landlord to any person at any time without
written permission by Tenant, except to employees, contractors or service personnel directly supervised by Landlord. 
 11. The entries,
passages, doorways, elevators, elevator doors, hallways and stairwells shall not be blocked or obstructed; no rubbish, litter, trash or material of any nature shall be placed, emptied or thrown in these areas; and such areas shall not be used at any
time except for ingress or egress by Tenant, Tenant’s agents, employees, invitees, Tenant’s equipment, furnishings and supplies to or from the Leased Premises. 

12. Tenant shall not do or permit anything to be done in or about the Building or bring or keep anything therein that will in any way increase
the rate of fire or other insurance on the Building or on property kept therein, or obstruct or interfere with the rights of, or otherwise injure or annoy other tenants or do anything in conflict with the valid pertinent laws, rules or regulations
of any government authority. 
 13. Landlord desires to maintain the highest standards of environmental comfort and convenience for the
tenancy. It will be appreciated if any undesirable conditions or lacks of courtesy or attention are reported directly to Landlord. 
 14.
Intentionally Omitted. 

  
 59 

 EXECUTION COPY 
  

 15. Landlord shall have the right to determine and prescribe the weight and proper position
of any unusually heavy equipment including safes, large files, etc. that are to be placed in the Building, and only those which in the opinion of Landlord do not exceed acceptable floor loading and might not with reasonable probability do damage to
the floors, structure and/or freight elevator, may be moved into said Building. Landlord’s permission will not be unreasonably withheld. Any damage occasioned in connection with the moving or installing of such aforementioned articles in said
Building or the existence of same in said Building shall be paid for by Tenant, unless otherwise covered by insurance. 
 16. Landlord shall
have the right to prohibit the use of the Science Park Development Corporation name, or of the name of the Science Park project or of any Science Park building, or any other publicity by Tenant, which, in Landlord’s opinion, tends to impair
Landlord’s Reputation or that of the Building or its desirability for the executive offices of Landlord or of other tenants; and, upon written notice from Landlord, Tenant will refrain from or discontinue such use or publicity. Landlord’s
permission will not be unreasonably withheld. 
 17. No food or beverages may be stored in any areas other than in those specifically
designated for such purposes. Also, waste materials, including trash from the packaging, preparation or serving of the above, must be disposed of the same day in the proper receptacles. Tenant must bear the cost of correcting any pest problem
resulting from these activities. 
 18. No weapons are allowed on the Property or on the real property known as “Science Park” of
which the Property forms a part. 
 19. Any device used for moving of furniture, freight, mail or paper goods that will be used on a daily
basis will be padded in such a way as to protect from possible damage any surface with which it may come in contact. Any device used on an occasional basis, which is not padded, will be operated in a safe manner so as to prevent damage to any walls,
doors, floors, ceilings or other surfaces. Hand trucks must have rubber tires. 
 20. All work done by service personnel, whether in-house or contracted, shall be done in a first class manner to accepted standards of the trade and shall conform to all codes imposed by any governmental authority. 

21. No awnings or other projections shall be attached to the outside walls of the Building without the prior written consent of Landlord. No
curtains, shades or screens shall be attached to, or hung in or used in connection with any window or door of the Leased Premises without the prior written consent of Landlord. Such awnings, projections, curtains, blinds, shades, screens or other
fixtures so permitted by Landlord must be of a quality, type, design and color and attached in the manner approved by Landlord. 
 22. No
show cases or other articles shall be placed in front of or affixed to any part of the exterior of the Building, nor placed in the halls, corridors or vestibules without the prior written consent of Landlord. 

  
 60 

 EXECUTION COPY 
  

 23. Water and wash closets and other plumbing fixtures shall not be used for any purpose
other than those for which they were constructed and no sweepings, rubbish, rags or other substances shall be thrown therein. All damages resulting from any misuse of the fixtures shall be borne by any Tenant who, or whose servants, employees,
agents, contractors, subcontractors, licensees or visitors, shall have caused the same. 
 24. Landlord reserves the right to exclude from
the Building any persons who do not present identification acceptable to Landlord. Landlord shall in no case be liable for damages for any error with regard to admission or exclusion from the Building of any person. 

In the case of riot, mob, invasion, public excitement or other circumstances rendering such actions advisable in Landlord’s opinion,
Landlord reserves the right to prevent access to the Building during the continuance of the same by such actions as the Landlord may deem appropriate including closing doors. 

25. The requirements of Tenant will be attended to only upon application at the office of Landlord’s building manager in the manner set
forth by Landlord. Landlord’s employees shall not perform any work or do anything outside of their regular duties unless under special instructions from Landlord. 

26. Canvassing, soliciting and peddling in the Building is prohibited and Tenant shall cooperate to prevent same. 

27. Intentionally Omitted. 
 28.
Hours of Operation 
 Science Park is open 24 hours a day, 7 days a week. The normal hours of operation are Monday through Friday
from 8:00 a.m. to 6:00 p.m. excluding holidays. 
 29. Keys to Offices 

Two keys will be issued for each tenant’s space. The principal of the Tenant will sign for the keys upon issuance. The Tenant may make
additional copies of the keys as needed. It will be the responsibility of the Tenant’s principal to keep track of those persons to whom he has issued keys. All keys and photo IDs must be returned to the Landlord upon termination of the Lease or
a $15 penalty per item charge will be deducted from the security deposit held by Landlord. Replacement of locks because of lost or unreturned keys shall be undertaken at the Tenant’s expense. 

30. Parking and Speed Limit 

All Science Park companies and employees will be assigned to specific parking lot areas. There are no assigned spaces other than for
handicapped parking. It is requested that individuals park between the painted lines. If for business reasons you wish to leave your vehicle overnight or for the weekend, the security officer must be notified. No one is allowed to
“deadhead” his or her vehicle in the parking lots. Vehicles found improperly parked obstructing exits, fire lanes, other spaces, etc. will be towed at the owner’s expense. 

  
 61 

 EXECUTION COPY 
  

 The speed limit for the private drives and roadways within Science Park is 15 m.p.h.
Please obey this speed limit for the safety of everyone walking and driving within the Park. 
 31. Reporting Emergencies or
Incidents 
 All emergencies (fire, injury, illness, etc.) should be reported to security immediately at
624-1242. This telephone number must only be used in cases of emergency. Incidents such as thefts, unwanted persons, vandalism or damage to parked vehicles in Science Park should also be reported as soon as
possible. 
 32. Film Crews. Tenant shall provide Landlord with at least 24 hours advance written notice of any scheduled visits to
and/or work within, on or about Science Park by any film crew, whether in connection with a documentary or dramatic production, interviews, research, promotion, advertising, news coverage or otherwise. 

33. Special Events Held by Science Park Companies 

Any event held by a Science Park company which may disturb or interfere with the security, safety or operations of other companies or which
involves more than ten (10) people entering into the Park must be registered with the Landlord and the Landlord’s security site supervisor. The host company may be required to hire additional security or maintenance personnel. For any such
special event, the following will be required: 
 (a) Events will be held within the confines of the host company’s Leased Premises and
only within an SPDC common area when express permission has been granted. 
 (b) Participants will be restricted to a pre-determined area near which bathroom facilities are available. 
 (c) A guest list must be provided to
Landlord’s security site supervisor at least twenty four (24) hours in advance of the special event. 
 (d) Arrangements will be
made for ample parking to be available with proper signs provided to guide and inform the guests. The host company should be prepared to provide the signs. 

(e) Alcohol consumption must be monitored by the host company for underage persons and for excessive consumption by guests. 

(f) The host company will be responsible for cleanup and for any damage and costs incurred in restoring any area involved to its original good
condition. 

  
 62 

 EXECUTION COPY 
  

 34. Roof Off Limits. No Tenant and no employee or invitee of any Tenant or employee,
shall go upon the roof of the Building without Landlord’s permission. 
 35. Changes to Entrances. Landlord shall have the right
at any time without incurring any liability to Tenant to change the arrangement and/or location of entrances or passageways, doors or doorways, corridors, elevators, stairs, toilets or other common areas of the Building. 

36. Tenant Information. 

(a) Tenants are required to provide a 2-3 line description of their company’s operation. This
description will include P.O. Box (if applicable), telephone numbers (fax, voice, e-mail) and company principal(s). 

(b) Each year as of June 30th, SPDC conducts a survey of employment in Science Park
companies which includes questions pertaining to personnel and strategic data which identifies benchmarks for Science Park performance, including but not limited to the number of employees and other such data, education levels, company expansion
plans, and needs, etc. This data is necessary for SPDC’s reporting to its lenders and others. Individual company data is kept confidential. Tenants including Ground lease Tenants/Subtenants are required to participate in this
survey. In addition, Tenant shall promptly distribute SPDC’s current survey form to their subtenant companies, follow up, and collect the completed forms from subtenants by the established due date. 

37. Yale University Amenities 

Commercial (those having no off street or public customers) Tenants of Science Park and their employees are invited to take advantage of the
following current amenities at Yale University. All Yale amenities are offered at the sole discretion of Yale University and the following language cannot be changed without the express approval of Yale. 

 

	A.	Payne Whitney Gymnasium 

  

	 	1.	Fitness Center – cardio machines, Cybex circuits, free weights 

  

	 	2.	Swimming Pools—lap swimming 

  

	 	3.	Lanman Center/Greenberg Brothers Track – basketball, jogging 

  

	 	4.	15 International Squash Courts – recreational squash 

  

	 	5.	Physical Education Classes including aerobics, dance, martial arts, sports skills 

  

	 	6.	Sauna for Women, Sauna for Men – for health/relaxation 

  

	 	  	Membership to Payne Whitney Gym: 

  
 63 

 EXECUTION COPY 
  

 The membership fee is the same as charged to Yale faculty and staff. To obtain a membership
simply present a letter at the membership office in the Payne Whitney Gym on your company’s letterhead which states that you are an employee of a Science Park company. After paying the fee, you will receive a membership card, which must be
presented for admission to the facilities. 
 The Membership Office is open Monday through Friday 10:00 a.m. to 2:00 p.m. and 3:15 p.m. to
6:00 p.m. Please call the membership office at (203) 432-2497 for additional information. 
  

	B.	Yale Golf Course Access 

 1. Corporate Membership: (For corporations and businesses that
will elect for membership, four individuals within the corporation or business.) the four individuals will be entitled to unlimited play. (Alternatively, the corporation/business can elect to purchase 300 rounds, within the calendar year, for use by
its employees and guests.) The one time initiation fee will be waived. Contact the Membership Office at (203) 392-2306 for cost of membership and details. 

2. Involvement with Yale Golf Classic and other golf events. Contact Barbara Chesler at 432-1435 for
details. 
  

	C.	Yale Football Corporate Hospitality and Group Outings 

 For information on adult or youth
group outings for football or other varsity athletic events contact Pat O’Neill at (203) 432-2205. 
  

	D.	Yale University Library Privileges 

 Employees of Science Park tenant companies when SPDC
has a current, valid lease on file may request a Yale Library Card, which will be issued at no charge. The request must be made using the SPDC designed standard, bearer letter on SPDC (or in the case of an SPDC ground leasee Tenant, the ground
leasee Tenant’s letterhead), counter-signed by the sub-tenant company’s designated Yale Privileges Representative. When leases commence or terminate, SPDC or SPDC’s ground leasee Tenants will
update their list of valid leasees and email the list to the Yale Sterling Memorial Library’s circulation desk. The Circulation Desk will compare each library card request letter to the companies on the lists to confirm privileges. A card valid
for 1 year will be available for pickup at the Library approximately one week after the request is received. If you have any questions regarding this validation procedure only, contact SPDC; Clio Nicolakis, at 203.785.0840. For all other
questions, contact the Sterling Memorial Library at 203.432.1853 or smlcirc@yale.edu. 

  
 64EX-4.1

  

 
 TEAM, INC. 

5.00% CONVERTIBLE SENIOR NOTES DUE 2023 
  

 
 INDENTURE 

DATED AS OF JULY 31, 2017 
  

 
 BRANCH BANKING
AND TRUST COMPANY, 
 AS TRUSTEE 
  

 
  

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	 ARTICLE 1 DEFINITIONS AND
INCORPORATION BY REFERENCE
	  

	 Section 1.01. 
	 	Definitions	  	 	1	 
	 Section 1.02. 
	 	Other Definitions	  	 	9	 
	 Section 1.03. 
	 	Rules of Construction	  	 	10	 
	 Section 1.04.
	 	References to Additional Interest	  	 	10	 
	
	 ARTICLE 2 THE
SECURITIES
	  

			
	 Section 2.01. 
	 	Designation and Amount	  	 	10	 
	 Section 2.02. 
	 	Form and Dating	  	 	10	 
	 Section 2.03. 
	 	Execution and Authentication; Payments of Interest and Defaulted Amounts	  	 	11	 
	 Section 2.04. 
	 	Registrar, Paying Agent and Conversion Agent	  	 	13	 
	 Section 2.05. 
	 	Paying Agent to Hold Money in Trust	  	 	14	 
	 Section 2.06. 
	 	Holder	  	 	14	 
	 Section 2.07. 
	 	Transfer and Exchange; Transfer Restrictions	  	 	14	 
	 Section 2.08. 
	 	Replacement Securities	  	 	18	 
	 Section 2.09. 
	 	Outstanding Securities	  	 	19	 
	 Section 2.10. 
	 	Treasury Securities	  	 	19	 
	 Section 2.11. 
	 	Temporary Securities	  	 	19	 
	 Section 2.12. 
	 	Cancellation; Repurchase	  	 	20	 
	 Section 2.13. 
	 	Additional Transfer and Exchange Requirements	  	 	20	 
	 Section 2.14. 
	 	CUSIP Numbers	  	 	22	 
	 Section 2.15.
	 	Additional Securities	  	 	22	 
	
	 ARTICLE 3 REDEMPTION;
REPURCHASE UPON A FUNDAMENTAL CHANGE
	
 

			
	 Section 3.01. 
	 	Optional Redemption	  	 	23	 
	 Section 3.02.
	 	Notice of Optional Redemption; Selection of Securities	  	 	23	 
	 Section 3.03.
	 	Payment of Securities Called for Redemption	  	 	24	 
	 Section 3.04.
	 	Restrictions on Redemption	  	 	25	 
	 Section 3.05.
	 	Repurchase At Option of The Holder Upon A Fundamental Change	  	 	25	 
	 Section 3.06. 
	 	Compliance With Securities Laws Upon Purchase of Securities	  	 	28	 
	 Section 3.07.
	 	No Repurchase Upon Acceleration	  	 	28	 
	 Section 3.08. 
	 	Repayment to the Company	  	 	28	 
	 Section 3.09.
	 	Partial Repurchase	  	 	28	 
	 ARTICLE 4 CONVERSION
	  

			
	 Section 4.01. 
	 	Conversion Rights	  	 	28	 
	 Section 4.02. 
	 	Settlement Upon Conversion; Conversion Procedures	  	 	31	 
	 Section 4.03.
	 	Adjustment to Conversion Rate Upon Conversion Upon a Make-Whole Fundamental Change	  	 	36	 

							
	 Section 4.04. 
	 	Conversion Rate Adjustments	  	 	38	 
	 Section 4.05. 
	 	Adjustments of Prices	  	 	46	 
	 Section 4.06.
	 	Recapitalizations, Reclassifications and Changes of the Common Stock 	  	 	46	 
	 Section 4.07.
	 	Cancellation of Converted Securities	  	 	48	 
	 Section 4.08.
	 	Stockholders Rights	  	 	49	 
	 Section 4.09.
	 	Trustee’s Disclaimer	  	 	49	 
	 Section 4.10.
	 	Exchange in Lieu of Conversion	  	 	50	 
	
	 ARTICLE 5 COVENANTS
	  

			
	 Section 5.01.
	 	Payment on the Securities	  	 	50	 
	 Section 5.02.
	 	SEC Reports and Rule 144A Information Requirement	  	 	51	 
	 Section 5.03.
	 	Compliance Certificates	  	 	52	 
	 Section 5.04.
	 	Further Instruments and Acts	  	 	53	 
	 Section 5.05.
	 	Maintenance of Corporate Existence	  	 	53	 
	 Section 5.06.
	 	Stay, Extension and Usury Laws	  	 	53	 
	
	 ARTICLE 6 CONSOLIDATION,
MERGER, SALE, CONVEYANCE, ASSIGNMENT, TRANSFER, LEASE OR OTHER DISPOSITION
	

 

			
	 Section 6.01 .
	 	Company May Consolidate, Etc., Only on Certain Terms:	  	 	53	 
	 Section 6.02 . 
	 	Successor Substituted	  	 	54	 
	
	 ARTICLE 7 DEFAULT AND
REMEDIES
	  

			
	 Section 7.01.
	 	Events of Default	  	 	54	 
	 Section 7.02.
	 	Acceleration	  	 	56	 
	 Section 7.03.
	 	Other Remedies	  	 	56	 
	 Section 7.04
	 	Additional Interest	  	 	56	 
	 Section 7.05.
	 	Waiver of Defaults and Events of Default	  	 	57	 
	 Section 7.06.
	 	Control by Majority	  	 	57	 
	 Section 7.07.
	 	Limitations on Suits	  	 	57	 
	 Section 7.08.
	 	Rights of Holders to Receive Payment and to Convert	  	 	58	 
	 Section 7.09.
	 	Collection Suit By Trustee	  	 	58	 
	 Section 7.10.
	 	Trustee May File Proofs of Claim	  	 	58	 
	 Section 7.11.
	 	Application of Monies Collected by Trustee	  	 	59	 
	 Section 7.12.
	 	Undertaking For Costs	  	 	60	 
	
	 ARTICLE 8 TRUSTEE
	  

			
	 Section 8.01.
	 	Duties of Trustee	  	 	60	 
	 Section 8.02.
	 	Rights of Trustee	  	 	61	 
	 Section 8.03.
	 	Individual Rights of Trustee	  	 	63	 
	 Section 8.04.
	 	Trustee’s Disclaimer	  	 	63	 
	 Section 8.05.
	 	Notice of Default or Events of Default	  	 	63	 
	 Section 8.06.
	 	Compensation and Indemnity	  	 	63	 
	 Section 8.07.
	 	Replacement of Trustee	  	 	64	 

  
 -ii- 

							
	 Section 8.08.
	 	Successor Trustee by Merger, Etc.	  	 	65	 
	 Section 8.09.
	 	Eligibility; Disqualification	  	 	65	 
	
	 ARTICLE 9 SATISFACTION AND
DISCHARGE OF INDENTURE
	  

			
	 Section 9.01.
	 	Satisfaction And Discharge Of Indenture	  	 	65	 
	 Section 9.02.
	 	Application of Trust Money	  	 	66	 
	 Section 9.03.
	 	Repayment to Company	  	 	66	 
	 Section 9.04.
	 	Reinstatement	  	 	66	 
	
	 ARTICLE 10 AMENDMENTS,
SUPPLEMENTS AND WAIVERS
	  

			
	 Section 10.01.
	 	Without Consent of Holders	  	 	67	 
	 Section 10.02.
	 	With Consent of Holders	  	 	68	 
	 Section 10.03.
	 	Revocation and Effect of Consents	  	 	69	 
	 Section 10.04.
	 	Notation on or Exchange of Securities	  	 	69	 
	 Section 10.05.
	 	Trustee to Sign Amendments, Etc.	  	 	70	 
	 Section 10.06.
	 	Effect of Supplemental Indentures	  	 	70	 
	
	 ARTICLE 11 CONCERNING THE
HOLDERS
	  

			
	 Section 11.01.
	 	Action by Holders	  	 	70	 
	 Section 11.02.
	 	Proof of Execution by Holders	  	 	70	 
	 Section 11.03.
	 	Who Are Deemed Absolute Owners	  	 	70	 
	 Section 11.04.
	 	Revocation of Consents; Future Holders Bound	  	 	71	 
	
	 ARTICLE 12 HOLDERS’
MEETINGS
	  

			
	 Section 12.01.
	 	Purpose of Meetings	  	 	71	 
	 Section 12.02.
	 	Call of Meetings by Trustee	  	 	72	 
	 Section 12.03.
	 	Call of Meetings by Company or Holders	  	 	72	 
	 Section 12.04.
	 	Qualifications for Voting	  	 	72	 
	 Section 12.05.
	 	Regulation	  	 	72	 
	 Section 12.06.
	 	Voting	  	 	73	 
	 Section 12.07.
	 	No Delay of Rights by Meeting	  	 	73	 
	
	 ARTICLE 13 MISCELLANEOUS
	  

			
	 Section 13.01.
	 	Notices	  	 	74	 
	 Section 13.02.
	 	Certificate and Opinion as to Conditions Precedent	  	 	75	 
	 Section 13.03.
	 	Business Days	  	 	75	 
	 Section 13.04
	 	Governing Law	  	 	76	 
	 Section 13.05.
	 	No Adverse Interpretation of Other Agreements	  	 	76	 
	 Section 13.06.
	 	No Personal Liability of Directors, Officers, Employees or Stockholders	  	 	76	 
	 Section 13.07
	 	Successors	  	 	76	 
	 Section 13.08.
	 	Multiple Counterparts	  	 	76	 
	 Section 13.09.
	 	Separability	  	 	76	 
	 Section 13.10.
	 	Table of Contents, Headings, Etc.	  	 	76	 

  
 -iii- 

					
	Section 13.11.	 	 Waiver of Jury Trial
	  	76
	Section 13.12.	 	 Calculations
	  	76

 EXHIBIT 
  

					
			
	Exhibit A	  	Form of Security	  	A-1

  

  
 -iv- 

 INDENTURE, dated as of July 31, 2017 between TEAM, INC., a Delaware corporation (the
“Company”), and BRANCH BANKING AND TRUST COMPANY, as Trustee (the “Trustee”). 
 The Company
and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Company’s 5.00% Convertible Senior Notes due 2023 (as are issued under this Indenture, and as amended or supplemented
from time to time, the “Securities”). 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“Additional Interest” means all amounts, if any, payable pursuant to Section 5.02(d), Section 5.02(e) or
Section 7.04. 
 “Affiliate” means, with respect to any specified Person, any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any Person, means the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to
the foregoing. 
 “Agent” means any Registrar, Paying Agent or Conversion Agent. 

“Applicable Procedures” means, with respect to any transfer, exchange, surrender or withdrawal of beneficial ownership
interests in a Global Security, the rules and procedures of the Depositary, in each case to the extent applicable to such transfer, exchange, surrender or withdrawal. 

“Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any similar federal or state
law for the relief of debtors.  
 “Bid Solicitation Agent” means the Person appointed by the Company to
solicit bids for the Trading Price of the Securities in accordance with Section 4.01(c). The Company shall initially act as the Bid Solicitation Agent. 

“Board of Directors” means either the board of directors of the Company or any committee of the Board of Directors
authorized to act for it with respect to this Indenture. 
 “Business Day” means any day other than a
Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 

 “Capital Stock” of any Person means (a) in the case of a corporation,
corporate stock of such Person, (b) in the case of an association or business entity, shares, interests, participations, rights or other equivalents (however designated) of corporate stock of such Person, (c) in the case of a partnership
or limited liability company, partnership or membership interests (whether general or limited) of such Person and (d) in the case of any other legal form, any other interest or participation of such Person that confers the right to receive a
share of the profits and losses of, or distribution of assets of, such Person. 
 “Cash” or “cash”
means such coin or currency of the United States as at any time of payment is legal tender for the payment of public and private debts. 

“Cash Settlement” shall have the meaning specified in Section 4.02(a).  

“Certificated Security” means a Security that is in substantially the form attached hereto as Exhibit A and
that does not include the text or the schedule called for by footnotes 1 through 5 thereof. 
 “close of
business” means 5:00 p.m. (New York City time). 
 “Combination Settlement” shall have the meaning
specified in Section 4.02(a).  
 “Common Equity” of any Person means any class of common stock or an
equivalent interest in such Person. 
 “Common Stock” means the Common Stock of the Company, $0.30 par value per
share, subject to Section 4.06. 
 “Company” means the party named as such in the first paragraph of this
Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 

“Company Order” means a written order of the Company, signed by one of the Company’s Chief Executive Officer,
Chief Financial Officer, President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice President”), and delivered to the Trustee. 

“Conversion Obligation” shall have the meaning specified in Section 4.01(a). 

“Conversion Price” means as of any date $1,000, divided by the Conversion Rate as of such
date. 
 “Corporate Trust Office” means the office of the Trustee at the address specified in
Section 13.01 or such other address as to which the Trustee may give notice to the Company. 

“Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy
Law. 
 “Daily Conversion Value” means, for each of the 40 consecutive VWAP Trading Days during the
Observation Period, one-fortieth of the product of (a) the Conversion Rate on such VWAP Trading Day and (b) the Daily VWAP on such VWAP Trading Day. 

  
 -2- 

 “Daily Measurement Value” means the Specified Dollar Amount (if any),
divided by 40. 
 “Daily Settlement Amount,” for each of the 40 consecutive VWAP Trading
Days during the Observation Period, shall consist of: 
 (a) cash in an amount equal to the lesser of (i) the
Daily Measurement Value and (ii) the Daily Conversion Value on such Trading Day; and 
 (b) if the Daily Conversion
Value on such Trading Day exceeds the Daily Measurement Value, a number of shares of Common Stock equal to (i) the difference between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such VWAP
Trading Day. 
 “Daily VWAP” means, for each of the 40 consecutive VWAP Trading Days during the relevant Observation
Period, the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “TISI <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period
from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such VWAP
Trading Day determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to
after-hours trading or any other trading outside of the regular trading session trading hours. 
 “Default”
or “default” means, when used with respect to the Securities, any event that is or, after notice or passage of time or both, would be an Event of Default. 

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

“Effective Date” shall have the meaning specified in Section 4.03(c), except that, as used in Section 4.04,
“Effective Date” means the first date on which shares of the Common Stock trade on the relevant stock exchange or in the applicable market, regular way, reflecting the relevant share split or share combination, as applicable. 

“Ex-Dividend Date” means the first date on which the shares of the Common Stock trade on the applicable exchange or in
the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or
otherwise) as determined by such exchange or market. 
 “Exchange Act” means the U.S. Securities Exchange Act
of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time. 

  
 -3- 

 “Fundamental Change” shall be deemed to have occurred at the time after
the Securities are originally issued if any of the following occurs: 
 (a) a “person” or “group”
within the meaning of Section 13(d) of the Exchange Act, other than the Company, its wholly owned Subsidiaries and any employee benefit plan of the Company or its wholly owned Subsidiaries, has become the direct or indirect “beneficial
owner,” as defined in Rule 13d-3 under the Exchange Act, of Common Equity of the Company representing more than 50% of the voting power of the Common Equity of the Company; 

(b) the consummation of (A) any recapitalization, reclassification or change of the Common Stock (other than changes
resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets; (B) any share exchange, consolidation or merger of the Company
pursuant to which the Common Stock will be converted into cash, securities or other property or assets (or any combination thereof); or (C) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially
all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any person other than one of the Company’s wholly-owned Subsidiaries; provided, however, that a transaction described in clause (B) in which the
holders of all classes of the Company’s Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee or the parent
thereof immediately after such transaction in substantially the same proportions as such ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b); 

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

(d) the Common Stock (or other common stock interests underlying the Securities) ceases to be listed or quoted on any Permitted
Exchange; 
 provided, however, that a transaction or transactions described in clause (a) or clause (b) above shall not constitute
a Fundamental Change if at least 90% of the consideration received or to be received by holders of the Company’s Common Stock (excluding cash payments for fractional shares) in connection with such transaction or transactions consists of shares
of common stock that are listed or quoted on any Permitted Exchange or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions and as a result of such transaction or transactions such consideration
becomes the Reference Property as described in Section 4.06; provided further any event, transaction or series of related transactions that constitute a Fundamental Change under both clause (a) and clause (b) above will be
deemed to be a Fundamental Change solely under clause (b) above. 
 “Global Security” means a permanent
Global Security that is in substantially the form attached hereto as Exhibit A and that includes the text and the schedule called for by footnotes 1 through 5 thereof and that is deposited with the Depositary or its custodian and registered
in the name of the Depositary or its nominee. 

  
 -4- 

 “Holder” means the Person in whose name a Security is registered on the
Registrar’s books. 
 “Indenture” means this Indenture as amended or supplemented from time to time
pursuant to the terms of this Indenture. 
 “Interest Payment Date” means each February 1 and
August 1 of each year, beginning on February 1, 2018. 
 “Last Reported Sale Price” of the Common
Stock on any date means: 
 (a) the closing sale price per share (or if no closing sale price is reported, the average
of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on such date as reported in composite transactions for the Relevant Stock Exchange; 

(b) if the Common Stock is not listed for trading on a Relevant Stock Exchange on such date, the last quoted bid price for the
Common Stock in the over-the-counter market on such date as reported by OTC Markets Group Inc. or a similar organization; and 

(c) if the Common Stock is not so quoted, the average of the mid-point of the last bid and ask prices for the Common Stock on
such date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 

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

“Market Disruption Event” means (a) a failure by the Relevant Stock Exchange to open for trading during its
regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any
suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in the Common Stock on the Relevant Stock Exchange or in any option contracts or futures contracts
relating to the Common Stock. 
 “Maturity Date” means August 1, 2023.  

“Observation Period” with respect to any Security surrendered for conversion means: (a) subject to clause (b), if
the relevant Conversion Date occurs prior to May 1, 2023, the 40 consecutive VWAP Trading Day period beginning on, and including, the second VWAP Trading Day immediately succeeding such Conversion Date; (b) if the relevant Conversion
Date occurs on or after the date of the Company’s issuance of a Redemption Notice with respect to the Securities pursuant to Section 3.03 and prior to the relevant Redemption Date, the 40 consecutive VWAP Trading Days beginning on, and
including, the 42nd Scheduled Trading Day  

  
 -5- 

 
immediately preceding such Redemption Date; and (c) subject to clause (b), if the relevant Conversion Date occurs on or after May 1, 2023, the 40 consecutive VWAP Trading Days beginning
on, and including, the 42nd Scheduled Trading Day immediately preceding the Maturity Date. 
 “Offering Memorandum”
means the preliminary offering memorandum dated July 24, 2017 relating to the offering and sale of the Securities, together with the related pricing term sheet dated July 25, 2017. 

“Officer” means the Chief Executive Officer, the Chief Financial Officer, the President, any Vice President (whether
or not designated by a number or numbers or word or words added before or after the title “Vice President”), the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company.  

“Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers, at least one of whom
shall be the principal executive officer, principal financial officer or principal accounting officer of the Company, that meets the requirements of Section 13.02. 

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

“Opinion of Counsel” means a written opinion that meets the requirements of Section 13.02 from legal counsel. The
counsel may be an employee of or counsel to the Company or any Subsidiary of the Company or other counsel acceptable to the Trustee.  

“Optional Redemption” shall have the meaning specified in Section 3.01. 

“Permitted Exchange” means any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global
Market (or any of their respective successors). 
 “Person” means any individual, corporation, partnership,
limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity.  

“Physical Settlement” shall have the meaning specified in Section 4.02(a). 

“Principal” or “principal” of a debt security, including the Securities, means the principal of the
security, plus, when appropriate, the premium, if any, on such security.  
 “Record Date” means, with
respect to any dividend, distribution or other transaction or event in which the holders of Common Stock have the right to receive any cash, securities or other property or in which the Common Stock is exchanged for or converted into any combination
of cash, securities or other property, the date fixed for determination of holders of Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors, by statute, by contract or
otherwise).  
 “Redemption Date” shall have the meaning specified in Section 3.02. 

“Redemption Notice” shall have the meaning specified in Section 3.02. 

  
 -6- 

 “Redemption Price” means, for any Securities to be redeemed pursuant to
Section 3.01, 100% of the principal amount of such Securities, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but on or prior
to the immediately succeeding Interest Payment Date, in which case interest accrued to the Interest Payment Date will be paid to Holders of record of such Securities as of the close of business on such Regular Record Date, and the Redemption Price
will be equal to 100% of the principal amount of such Securities). 
 “Regular Record Date,” with respect to
any Interest Payment Date, shall mean the January 15 or July 15 (whether or not such day is a Business Day) immediately preceding the applicable February 1 or August 1 Interest Payment Date, respectively. 

“Relevant Stock Exchange” means The New York Stock Exchange, or, if the Common Stock is not listed on The New York
Stock Exchange on the relevant date, the principal other U.S. national or regional securities exchange on which the Common Stock is then listed. 

“Responsible Officer” when used with respect to the Trustee, means any officer within the corporate trust department
of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall
be such officers, respectively, or to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.  

“Rule 144A” means Rule 144A as promulgated under the Securities Act. 

“Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the Relevant Stock Exchange. If the
Common Stock is not listed or admitted for trading on a Relevant Stock Exchange, “Scheduled Trading Day” means a Business Day. 

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

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time.  
 “Securities Custodian” means the Trustee, as custodian for
DTC, with respect to the Securities in global form, or any successor thereto.  
 “Settlement Amount” has the
meaning specified in Section 4.02(a)(iv).  
 “Settlement Method” means, with respect to any conversion
of Securities, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company pursuant to this Indenture. 

“Settlement Notice” has the meaning specified in Section 4.02(a)(iii). 

  
 -7- 

 “Significant Subsidiary” means, in respect of any Person, a Subsidiary of
such Person that would constitute a “significant subsidiary,” as such term is defined in Rule 1-02(w) of Regulation S-X under the Exchange Act.  

“Specified Dollar Amount” means the maximum cash amount per $1,000 principal amount of Securities to be received upon
conversion as specified in the Settlement Notice related to any converted Securities. 
 “Subsidiary” means,
in respect of any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power
only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, limited liability company, partnership or other entity are at the time owned, or the management of which is
otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. 

“TIA” means the U.S. Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on
the date of this Indenture, except to the extent any amendment to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date.  

“Trading Day” means a day on which (a) trading in the Common Stock generally occurs on the Relevant Stock
Exchange or, if the Common Stock is not then listed on a Relevant Stock Exchange, on the principal other market on which the Common Stock is then traded; and (b) a Last Reported Sale Price for the Common Stock is available on such securities
exchange or market; provided that if the Common Stock is not so listed or traded, “Trading Day” means a Business Day. 

“Trading Price” per $1,000 principal amount of the Securities on any date of determination means the average of the
secondary market bid quotations obtained in writing by the Bid Solicitation Agent for $5,000,000 principal amount of Securities at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized
securities dealers the Company selects for this purpose; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be
used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of Securities from a
nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of Securities shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If the Company
does not, when it is required to do so, instruct the Bid Solicitation Agent to obtain bids, or if the Company gives such instruction to the Bid Solicitation Agent and the Bid Solicitation Agent fails to make such determination, then, in either case,
the Trading Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such failure. 

  
 -8- 

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

“VWAP Trading Day” means a day on which (i) there is no “Market Disruption Event” and trading in the
Common Stock generally occurs on the Relevant Stock Exchange. If the Common Stock is not so listed or admitted for trading on any Relevant Stock Exchange, “VWAP Trading Day” means a Business Day. 

Section 1.02. Other Definitions. 
  

					
	Term	  	Where
Defined	 
	 “Additional Shares”
	  	 	4.03	(c) 
	 “Agent Members”
	  	 	2.02	(b) 
	 “Aggregate Share Cap”
	  	 	4.02	(a) 
	 “Clause A Distribution”
	  	 	4.04	(d) 
	 “Clause B Distribution”
	  	 	4.04	(d) 
	 “Clause C Distribution”
	  	 	4.04	(d) 
	 “Conversion Agent”
	  	 	2.04	 
	 “Conversion Consideration”
	  	 	4.10	 
	 “Conversion Date”
	  	 	4.02	(c) 
	 “Conversion Notice”
	  	 	4.02	(b) 
	 “Conversion Obligation”
	  	 	4.01	(a) 
	 “Conversion Rate”
	  	 	4.01	(a) 
	 “Distributed Property”
	  	 	4.04	(d) 
	 “DTC”
	  	 	2.02	(b) 
	 “Depositary”
	  	 	2.02	(b) 
	 “Event of Default”
	  	 	7.01	 
	 “Exchange Election”
	  	 	4.10	 
	 “Expiration Date”
	  	 	4.04	(f) 
	 “Fundamental Change Repurchase Date”
	  	 	3.05	(d) 
	 “Fundamental Change Repurchase Price”
	  	 	3.05	(a) 
	 “Fundamental Change Repurchase Right Notice”
	  	 	3.05	(b) 
	 “Measurement Period”
	  	 	4.01	(d) 
	 “Original Issuance Date”
	  	 	5.02	(d) 
	 “Paying Agent”
	  	 	2.04	 
	 “Reference Property”
	  	 	4.06	(a) 
	 “Repurchase Exercise Notice”
	  	 	3.05	(c) 
	 “Registrar”
	  	 	2.04	 
	 “Resale Restriction Termination Date”
	  	 	2.07	(c) 
	 “Restricted Securities”
	  	 	2.07	(c) 
	 “Securities”
	  	 	Recitals	 
	 “Specified Transaction”
	  	 	4.06	(a) 
	 “Spin-Off”
	  	 	4.04	(d) 
	 “Stock Price”
	  	 	4.03	(c) 
	 “transfer”
	  	 	2.07	(c) 
	 “Trigger Event”
	  	 	4.08	 
	 “Valuation Period”
	  	 	4.04	(d) 

  
 -9- 

 Section 1.03. Rules of Construction. Unless the context otherwise requires:
 
 (a) a term has the meaning assigned to it; 

(b) words in the singular include the plural, and words in the plural include the singular; 

(c) provisions apply to successive events and transactions; 

(d) the masculine gender includes the feminine and the neuter; 

(e) references to agreements and other instruments include subsequent amendments thereto; and 

(f) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision. 
 Section 1.04. References to Additional Interest. Unless the context otherwise
requires, any reference to interest on, or in respect of, any Security in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of Section 5.02(d),
Section 5.02(e) or Section 7.04, as applicable. Unless the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those provisions hereof
where such express mention is not made. 
 ARTICLE 2 

THE SECURITIES 

Section 2.01. Designation and Amount. The Securities shall be designated as the “5.00% Convertible Senior Notes due
2023.” The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is initially limited to $230,000,000, subject to Section 2.15, and except for Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of other Securities pursuant to Section 2.07, Section 2.08, Section 2.11, Section 2.13, Section 3.09, Section 4.02 and Section 10.04. 

Section 2.02. Form and Dating. (a) The Securities and the Trustee’s certificate of authentication shall be substantially
in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall
provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part
of this Indenture, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the
express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

  
 -10- 

 (b) All of the Securities shall be issued initially in the form of one or more Global
Securities, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (“DTC”) (such
depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the Company and authenticated by the Trustee as hereinafter
provided.  
 Each Global Security shall represent such of the outstanding Securities as shall be specified therein and each shall
provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges, purchases or conversions of such Securities. Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the amount of outstanding Securities
represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.13 and shall be made on the records of the Trustee and the Depositary. 

Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any agent of the Company or the Trustee
as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (1) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depositary or (2) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any
Security.  
 Section 2.03. Execution and Authentication; Payments of Interest and Defaulted Amounts. (a) The
Securities shall be issuable only in registered form without coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. An Officer shall sign the Securities for the Company by manual or facsimile signature
attested by the manual or facsimile signature of the Secretary or an Assistant Secretary of the Company. Typographic and other minor errors or defects in any such facsimile signature shall not affect the validity or enforceability of any Security
which has been authenticated and delivered by the Trustee. If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. A Security shall not
be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.  

  
 -11- 

 (b) The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may
appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes
authentication by such agent. An authenticating agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company. 

(c) At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities, without any
further action by the Company hereunder. 
 (d) Interest on the Securities shall be computed on the basis of a 360-day year composed of
twelve 30-day months, or in the case of a partial month, the number of days elapsed over a 30-day month. The Person in whose name any Security (or its predecessor) is registered on the register of the Registrar at the close of business on any
Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest shall be payable at the office or agency of the Company maintained by the Company for such
purposes in the continental United States, which shall initially be the Corporate Trust Office. The Company shall pay interest (i) on any Certificated Securities (A) to Holders holding Certificated Securities having an aggregate principal
amount of $1,000,000 or less, by check mailed to the Holders of these Securities at their address as it appears in the register of the Registrar and (B) to Holders holding Certificated Securities having an aggregate principal amount of more
than $1,000,000, either by check mailed to each such Holder or, upon application by such a Holder to the Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder’s account within
the United States, which application shall remain in effect until the Holder notifies, in writing, the Registrar to the contrary or (ii) on any Global Security by wire transfer of immediately available funds to the account of the Depositary or
its nominee. 
 (e) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant payment date by virtue of
its having been such Holder but shall accrue interest per annum at the rate borne by the Securities plus one percent, subject to the enforceability thereof under applicable law, from, and including, such relevant payment date to, but
excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election in each case, as provided in subsection (i) or (ii) below: 

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

  
 -12- 

 
Thereupon the Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed
payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee of such special record date and the Trustee, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Amounts and the special record date therefor to be delivered to each Holder, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted
Amounts and the special record date therefor having been so delivered, such Defaulted Amounts shall be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such
special record date and shall no longer be payable pursuant to the following subsection (ii) of this Section 2.03(e). 

(ii) The Company may make payment of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements of
any securities exchange or automated quotation system on which the Securities may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to
the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.04. Registrar, Paying Agent and Conversion Agent. The Company shall maintain an office or agency where Securities
may be presented for registration of transfer or for exchange (the “Registrar”), an office or agency where Securities may be presented for payment (the “Paying Agent”), an office or
agency where Securities may be presented for conversion (the “Conversion Agent”) and an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served,
such offices and agencies to be maintained in the continental United States. The Company will at all times maintain a Paying Agent, Conversion Agent, Registrar and an office or agency where notices and demands to or upon the Company in respect of
the Securities and this Indenture may be served in the continental United States. The Registrar shall keep a register of the Securities and of their registration of transfer and exchange. The Company shall give prompt written notice to the Trustee
of the location, and any change in the location, of such office or agency.  
 The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent not a
party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent, Conversion Agent or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act
as such. The Company or any Affiliate of the Company may act as the Paying Agent (except for the purposes of Section 5.01 and Article 9). 

The Company hereby initially designates the Trustee as Paying Agent, Registrar, Securities Custodian and Conversion Agent and each of the
Corporate Trust Office of the Trustee and the office or agency of the Trustee in the Borough of Manhattan, The City of New York, as the office or agency of the Company for each of the aforesaid purposes. 

  
 -13- 

 Section 2.05. Paying Agent to Hold Money in Trust. On or prior to 11:00 a.m.,
New York City time, on each due date of the principal of or interest on any Securities, the Company shall deposit with the Paying Agent a sum sufficient to pay such principal or interest so becoming due. The Paying Agent shall hold in trust for the
benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities, and shall notify the Trustee of any default by the Company (or any other obligor on the Securities) in making any
such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall, on or before 11:00 a.m., New York City time, on each due date of the principal of or interest on any Securities, segregate the money and hold it as a
separate trust fund for the benefit of the Holders. The Company at any time may require the Paying Agent to pay all money held by it to the Trustee, and the Trustee may at any time during the continuance of any default, upon written request to the
Paying Agent, require the Paying Agent to pay forthwith to the Trustee all sums so held in trust by the Paying Agent. Upon doing so, the Paying Agent (other than the Company) shall have no further liability for the money. 

Section 2.06. Holder. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of the Holders. If the Trustee is not the Registrar, the Company shall 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.  

Section 2.07. Transfer and Exchange; Transfer Restrictions. (a) Subject to compliance with any applicable additional
requirements contained in Section 2.13, when a Security is presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the
Registrar shall register the transfer or make the exchange as requested; provided, however, that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by an assignment
form in form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at
an office or agency maintained pursuant to Section 2.04, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or registration of transfer
shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed as a result of the name of the Holder of new Securities issued upon such
exchange or registration of transfer being different from the name of the Holder of the old Securities surrendered for exchange or registration of transfer.  

Neither the Company, any Registrar nor the Trustee shall be required to exchange or register a transfer of (i) any Securities or portions
thereof in respect of which a Repurchase Exercise Notice pursuant to Section 3.05(c) has been delivered and not withdrawn by the Holder thereof (except, in the case of the purchase of a Security in part, the portion thereof not to be purchased)
(ii) any Securities selected for redemption in accordance with Article 3, except the unredeemed portion of any Security being redeemed in part. 

  
 -14- 

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

(b) Any Registrar appointed pursuant to Section 2.04 shall provide to the Trustee such information as the Trustee may reasonably require
in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 
 (c) Every Security that
bears or is required under this Section 2.07(c) to bear the legend set forth in this Section 2.07(c) (together with any Common Stock issued upon conversion of the Securities that is required to bear the legend set forth in Section 2.07(d),
collectively, the “Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.07(c) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or
otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.07(c) and Section
2.07(d), the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security. 

Until the date (the “Resale Restriction Termination Date”) that is the later of (1) the date that is one year
after the last date of original issuance of the Securities, or such shorter period of time as permitted by Rule 144 under the Securities Act or any successor provision thereto, and (2) such other date, if any, as may be required by applicable
law, any certificate evidencing such Security (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section 2.07(d), if
applicable) shall bear a legend in substantially the following form (unless such Securities have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be
effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice
thereof to the Trustee): 
 THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
  

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

  
 -15- 

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

  

	 	•	 	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  

	 	•	 	PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OF THE COMPANY THAT COVERS THE RESALE OF THIS SECURITY OR SUCH COMMON STOCK; 

  

	 	•	 	TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR 

  

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

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH THE FOURTH BULLET POINT ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO
REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO
REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 No transfer of
any Security prior to the Resale Restriction Termination Date will be registered by the Security Registrar unless the applicable box on the Assignment Form has been checked. 

Any Security (or security issued in exchange or substitution therefor) as to which such restrictions on transfer shall have expired in
accordance with their terms may, upon surrender of such Security for exchange to the Security Registrar in accordance with the provisions of this Section 2.07, be exchanged for a new Security or Securities, of like tenor and aggregate principal
amount, which shall not bear the restrictive legend required by this Section 2.07(c) and shall not be assigned a restricted CUSIP number. The Company shall be entitled to instruct the Securities Custodian in writing to so surrender any Global
Security as to which such restrictions on transfer shall have expired in accordance with their terms for exchange, and, upon such instruction, the Securities Custodian shall so surrender such Global Security for exchange; and any new Global Security
so exchanged therefor shall not bear the restrictive legend specified in this Section 2.07(c) and shall not be assigned a restricted CUSIP number. The Company shall promptly notify the Trustee upon the occurrence of the Resale Restriction
Termination Date and promptly after a registration statement, if any, with respect to the Securities has been declared effective under the Securities Act. 

  
 -16- 

 The Company shall not, and shall use its reasonable efforts not to permit any of its Affiliates
to, sell any Security, unless upon such sale such Security will no longer be a “restricted security” (as defined under Rule 144 under the Securities Act). The Securities shall initially be issued with a restricted CUSIP. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with
the express requirements hereof. 
 Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by
the Depositary. 
 (d) Until the Resale Restriction Termination Date any stock certificate representing Common Stock issued upon conversion
of a Security shall bear a legend in substantially the following form (unless such Common Stock has been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be
effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof
to the Trustee and any transfer agent for the Common Stock): 
 THE SALE OF THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS SECURITY MAY NOT BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED EXCEPT: 

(A) TO TEAM, INC. (THE “COMPANY”) OR ANY SUBSIDIARY THEREOF; 

(B) PURSUANT TO, AND IN ACCORDANCE WITH, A REGISTRATION STATEMENT THAT IS EFFECTIVE UNDER THE SECURITIES ACT AT THE TIME OF
SUCH TRANSFER; 
 (C) TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE
144A UNDER THE SECURITIES ACT; OR 

  
 -17- 

 (D) UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT (INCLUDING, IF AVAILABLE, THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT). 
 THE “RESALE RESTRICTION
TERMINATION DATE” MEANS THE LATER OF: 
 (1) THE DATE THAT IS ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE
SERIES OF SECURITIES UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER PERIOD OF TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO; AND (2) SUCH OTHER DATE AS MAY BE REQUIRED BY APPLICABLE LAW. 

WITH RESPECT TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (D), PRIOR TO THE RESALE RESTRICTION TERMINATION DATE, THE COMPANY AND THE
TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 Any such Common
Stock as to which such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of the certificates representing such Shares of Common Stock for exchange in accordance with the procedures of the transfer agent
for the Common Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common Stock, which shall not bear the restrictive legend required by this Section 2.07(d). 

Section 2.08. Replacement Securities. If any mutilated Security is surrendered to the Company, a Registrar or the Trustee,
or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company, the applicable Registrar and the Trustee such security or indemnity as will be required by them to save
each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute, and upon its written request the Trustee shall authenticate
and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. 

In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about to be repurchased
by the Company pursuant to Article 3, the Company in its discretion may, instead of issuing a new Security, pay or repurchase such Security, as the case may be. 

No service charge shall be imposed by the Company, the Trustee, any Registrar or the Paying Agent upon the issuance of any substitute
Security, but the Company may require a Holder to pay a sum sufficient to cover any tax or other governmental charge required in connection therewith as a result of the name of the Holder of the new substitute Security being different from the name
of the Holder of the old Security that became mutilated or was destroyed, lost or stolen. 

  
 -18- 

 Every new Security issued pursuant to this Section 2.08 in lieu of any mutilated, destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits
of this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 
 The provisions of this
Section 2.08 are (to the extent lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.09. Outstanding Securities. Securities outstanding at any time are all Securities authenticated and delivered by
the Trustee, except for those canceled by it, those converted pursuant to Article 4 and required to be cancelled pursuant to Section 2.12, those delivered to it for cancellation or surrendered for transfer or exchange, those repurchased by the
Company or its Subsidiaries pursuant to Section 2.12 and those described in this Section 2.09 as not outstanding.  
 If a
Security is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. 

If the Paying Agent (other than the Company or an Affiliate of the Company) holds on any date on which any Security (or portion thereof) shall
have become due and payable monies in the necessary amount, then on and after such date such Security (or portion thereof, as the case may be) shall cease to be outstanding and interest on it shall cease to accrue. 

Section 2.10. Treasury Securities. In determining whether the Holders of the required principal amount of Securities have
concurred in any notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded, except that, for purposes of determining
whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Securities so owned that have been
pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to the Securities and that the pledgee is not the Company or any other obligor on the
Securities or any Affiliate of the Company or of such other obligor.  
 Section 2.11. Temporary Securities. Until
definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the form of
Certificated Securities but may have variations that the Company considers appropriate for temporary Securities and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee, upon receipt
of a Company Order, shall authenticate and deliver definitive Securities in exchange for temporary Securities. Holders of temporary Securities shall be entitled to all the benefits of this Indenture. 

  
 -19- 

 Section 2.12. Cancellation; Repurchase. Subject to Section 4.10, the
Company shall cause all Securities surrendered for the purpose of payment, repurchase, redemption, registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s Agents,
Subsidiaries or Affiliates), to be delivered to the Trustee for cancellation. Subject to Section 4.10, the Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any Securities surrendered to them for
registration of transfer, exchange, redemption, payment or conversion. Subject to Section 4.10, the Trustee and no one else shall promptly cancel, in accordance with its standard procedures, all Securities surrendered for the purpose of
payment, repurchase, registration of transfer, exchange, conversion or cancellation and shall dispose of canceled Securities (subject to the record retention requirements of the Exchange Act), in accordance with its standard procedures, and no
Securities shall be authenticated in exchange thereof except as expressly permitted by any of the provisions of this Indenture. The Company may not hold or resell such Securities or issue new Securities to replace Securities that it has purchased or
otherwise acquired or that have been delivered to the Trustee for cancellation.  
 The Company may, to the extent permitted by law,
and directly or indirectly (regardless of whether such Securities are surrendered to the Company), repurchase Securities in the open market, by public or private tender or exchange offer, by private agreement through counterparties or otherwise,
whether by the Company or its Subsidiaries, including by cash-settled swaps or other derivatives and, in each case, at any price. The Company shall cause any Securities so purchased (other than Securities repurchased pursuant to cash-settled swaps
or other derivatives) to be surrendered to the Trustee for cancellation in accordance with this Section 2.12, and they shall no longer be considered outstanding under this Indenture upon their repurchase. 

Section 2.13. Additional Transfer and Exchange Requirements. (a) A Global Security may not be transferred, in whole or
in part, to any Person other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued
in exchange for a Global Security but is not itself a Global Security. No transfer of a Security to any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the name of such Person.
Notwithstanding any other provisions of this Indenture or the Securities, transfers of a Global Security, in whole or in part, shall be made only in accordance with this Section 2.13.  

(b) The provisions of subsections (i), (ii), (iii), (iv) and (v) below shall apply only to Global Securities: 

(i) Notwithstanding any other provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole
or in part for a Security registered in the name of any Person other than the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Certificated Securities registered in the names of any Person designated
by the Depositary in the event that (A) the Depositary 

  
 -20- 

 
has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or the Depositary has ceased to be a “clearing agency” registered under the
Exchange Act, and a successor Depositary is not appointed by the Company within 90 days or (B) an Event of Default has occurred and is continuing and a beneficial owner requests that its Securities be exchanged for Certificated Securities. Any
Global Security exchanged pursuant to clause (A) above shall be so exchanged in whole and not in part, and any Global Security exchanged pursuant to clause (B) above may be exchanged in whole or from time to time in part as directed by the
Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee
thereof shall not be a Global Security. 
 (ii) Securities issued in exchange for a Global Security or any portion thereof
shall be issued in fully-registered book-entry form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such
authorized denominations as the Depositary shall designate and shall bear any applicable legend provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any
Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as Securities Custodian for the Depositary or its nominee with respect to such Global Security, the principal
amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and
deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof; provided, however, that any Global Security surrendered for exchange shall be duly endorsed or accompanied
by a written instrument of transfer in accordance with the proviso to the first paragraph of Section 2.07(a). 
 (iii)
Subject to the provisions of subsection (v) below, the registered Holder may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder
is entitled to take under this Indenture or the Securities. 
 (iv) In the event of the occurrence of any of the events
specified in subsection (i) above, the Company will promptly make available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons. 

(v) Neither Agent Members nor any other Persons on whose behalf Agent Members may act shall have any rights under this
Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, or under any such Global Security, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and
any agent of the Company or the Trustee as the absolute owner and holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, 

  
 -21- 

 
proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent
Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a holder of any Security. 
 (c)
In the event that Certificated Securities are issued in exchange for beneficial interests in Global Securities and, thereafter, the events or conditions specified in Section 2.13(b)(i) that required such exchange shall cease to exist, the
Company shall deliver notice to the Trustee and to the Holders stating that Holders may exchange Certificated Securities for interests in Global Securities by complying with the procedures set forth in this Indenture and briefly describing such
procedures and the events or circumstances requiring that such notice be given. Thereafter, if Certificated Securities are presented by a Holder to a Registrar with a request: 

(i) to register the transfer of such Certificated Securities to a Person who will take delivery thereof in the form of a
beneficial interest in a Global Security; or 
 (ii) to exchange such Certificated Securities for an equal principal amount
of beneficial interests in a Global Security, which beneficial interests will be owned by the Holder transferring such Certificated Securities, 

the Registrar shall register the transfer or make the exchange as requested by canceling such Certificated Securities and causing, or directing the
Securities Custodian to cause, the aggregate principal amount of the applicable Global Security to be increased accordingly and, if no such Global Security is then outstanding, the Company shall issue and the Trustee, upon receipt of a Company
Order, shall authenticate and deliver a new Global Security; provided, however, that the Certificated Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written
instrument of transfer in accordance with the proviso to the first paragraph of Section 2.07(a).  

Section 2.14. CUSIP Numbers. The Company in issuing the Securities may use one or more “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Securities or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Securities, and any such notice or related action by the Company contemplated thereby shall not be
affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers. 

Section 2.15. Additional Securities. The Company may, without the consent of the Holders and notwithstanding Section 2.01,
reopen this Indenture and issue additional Securities hereunder with the same terms as the Securities initially issued hereunder (other than differences in the issue price and interest accrued prior to the issue date, if any, of such additional
Securities) in an unlimited aggregate principal amount; provided that if any such additional Securities are not fungible with the Securities initially issued hereunder for U.S. federal income tax and securities law purposes, such additional
Securities shall have one or more separate CUSIP numbers. Prior to the issuance of any such additional Securities, the Company shall deliver to 

  
 -22- 

 
the Trustee a Company Order, an Officers’ Certificate and an Opinion of Counsel, such Opinion of Counsel to cover such matters, in addition to those required by Section 13.02, as the
Trustee shall reasonably request, including, without limitation, that the form and terms of such Securities has been established by or pursuant to a resolution of the Board of Directors in conformity with the provisions of this Indenture and that
such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute legal, valid and binding obligations of the Company,
enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws of general application affecting the rights and remedies of creditors and general principles of
equity. 
 ARTICLE 3 

REDEMPTION; REPURCHASE UPON A FUNDAMENTAL CHANGE 

Section 3.01. Optional Redemption. No sinking fund is provided for the Securities. The Securities shall not be redeemable
by the Company at its option prior to August 5, 2021. On or after August 5, 2021, the Company may redeem (an “Optional Redemption”) for cash all or any portion of the Securities, at its option and at the
Redemption Price, if the Last Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive), including the Trading Day immediately preceding the date
on which the Company provides a Redemption Notice, during any 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company provides the Redemption Notice in accordance with Section
3.02. 
 Section 3.02. Notice of Optional Redemption; Selection of Securities. (a) In case the Company
exercises its Optional Redemption right to redeem all or, as the case may be, any part of the Securities pursuant to Section 3.01, it shall fix a date for redemption (each, a “Redemption Date”) and it or, at its
written request received by the Trustee not less than 60 Scheduled Trading Days prior to the Redemption Date (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name of and at the expense of the Company, shall
deliver or cause to be delivered a notice of such Optional Redemption (a “Redemption Notice”) not less than 45 nor more than 55 Scheduled Trading Days prior to the Redemption Date to the Trustee, the Paying Agent and
each Holder of Securities so to be redeemed as a whole or in part. The Company may not give a notice of Redemption during the final 45 Scheduled Trading Days prior to the Maturity Date. 

(b) The Redemption Notice, if delivered in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not
the Holder receives such notice. In any case, failure to give such Redemption Notice by mail or any defect in the Redemption Notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Security. 
 (c) Each Redemption Notice shall specify: 

(i) the Redemption Date; 

  
 -23- 

 (ii) the Redemption Price; 

(iii) that on the Redemption Date, the Redemption Price will become due and payable upon each Security to be redeemed, and that
interest thereon, if any, shall cease to accrue on and after the Redemption Date; 
 (iv) the place or places where such
Securities are to be surrendered for payment of the Redemption Price; 
 (v) that Holders may surrender their Securities for
conversion at any time prior to the close of business on the Business Day immediately preceding the Redemption Date; 
 (vi)
the procedures a converting Holder must follow to convert its Securities and the Settlement Method and Specified Cash Amount, if applicable; 

(vii) the Conversion Rate and, if applicable, the number of additional shares added to the Conversion Rate in accordance with
Section 4.03; 
 (viii) the CUSIP, ISIN or other similar numbers, if any, assigned to such Securities; and 

(ix) in case any Security is to be redeemed in part only, the portion of the principal amount thereof to be redeemed and on and
after the Redemption Date, upon surrender of such Security, a new Security in principal amount equal to the unredeemed portion thereof shall be issued. 
 A
Redemption Notice shall be irrevocable. 
 (d) If fewer than all of the outstanding Securities are to be redeemed, the Trustee shall
select the Securities or portions thereof of a Global Security or the Securities in certificated form to be redeemed (in principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the Trustee considers
to be fair and appropriate in accordance with and subject to DTC’s customary procedures. If any Security selected for partial redemption is submitted for conversion in part after such selection, the portion of the Security submitted for
conversion shall be deemed (so far as may be possible) to be the portion selected for redemption. 
 Section 3.03.
Payment of Securities Called for Redemption. (a) If any Redemption Notice has been given in respect of the Securities in accordance with Section 3.02, the Securities shall become due and payable on the Redemption Date at the place
or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Securities at the place or places stated in the Redemption Notice, the Securities shall be paid and redeemed by the Company at the
applicable Redemption Price. 
 (b) No later than 11:00 a.m. Eastern Time on the Redemption Date, the Company shall deposit with the
Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.05 an amount of cash (in immediately available funds if deposited on the Redemption Date),
sufficient to pay 

  
 -24- 

 
the Redemption Price of all of the Securities to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Securities to be redeemed shall be made on
the Redemption Date for such Securities and interest on Securities redeemed shall cease to accrue on and after the Redemption Date and all rights of the Holders of such Securities shall terminate (other than the right to receive the applicable
Redemption Price). The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price. 

Section 3.04. Restrictions on Redemption. The Company may not redeem any Securities on any date if the principal amount of
the Securities has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in
the payment of the Redemption Price with respect to such Securities).  
 Section 3.05. Repurchase At Option of The
Holder Upon A Fundamental Change. (a) Subject to the satisfaction of the requirements of this Article 3, if a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at its option, to require the
Company to repurchase for cash all of the Holder’s Securities, or any portion of the principal thereof that is equal to $1,000 or a multiple of $1,000, at a repurchase price (the “Fundamental Change Repurchase
Price”) equal to 100% of the principal amount of the Securities to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Repurchase Date (unless such Fundamental Change Repurchase Date
falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record at the close
of business on such Regular Record Date and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of the Securities to be repurchased). 

(b) On or before the 20th day after the occurrence of a Fundamental Change, the Company shall provide to all Holders, the Trustee and
the Paying Agent a notice of the occurrence of the Fundamental Change and of the resulting repurchase right (the “Fundamental Change Repurchase Right Notice”). The Fundamental Change Repurchase Right Notice shall state, among other
things:  
 (i) the events causing a Fundamental Change; 

(ii) the date of the Fundamental Change; 

(iii) the last date on which a Holder may exercise the repurchase right; 

(iv) the Fundamental Change Repurchase Price; 

(v) the Fundamental Change Repurchase Date; 

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

  
 -25- 

 (vii) the Conversion Rate and, if applicable, any adjustments to the Conversion
Rate; 
 (viii) that the Securities with respect to which a Repurchase Exercise Notice has been given by the Holder may be
converted only if the Holder withdraws the Repurchase Exercise Notice as described below in Section 3.05(c); and 
 (ix)
the procedures that Holders must follow to require the Company to repurchase their Securities. 
 Simultaneously with providing the
Fundamental Change Repurchase Right Notice, the Company shall issue a press release and publish the information on its website or through such other public medium as the Company may use at that time. 

(c) Repurchases of Securities under this Section 3.05 shall be made, at the option of the Holder thereof, upon: 

(i) delivery to the Paying Agent by a Holder of a duly completed notice (a “Repurchase Exercise Notice”)
substantially in the form set forth in Exhibit A hereto, if the Securities are Certificated Securities, or in compliance with the Depositary’s procedures for surrendering interests in Global Securities, if the Securities are Global
Securities, in each case prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date; and 

(ii) delivery of the Securities, if the Securities are Certificated Securities, to the Paying Agent (together with all
necessary endorsements for transfer), or book-entry transfer of the Securities, if the Securities are Global Securities, in compliance with the procedures of the Depositary, in each case prior to the close of business on the Business Day immediately
preceding the Fundamental Change Repurchase Date, such delivery being a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor. 

The Repurchase Exercise Notice must state: 

(i) if the Securities are Certificated Securities, the certificate numbers of the Securities to be delivered for repurchase;

 (ii) the portion of the principal amount of the Securities to be repurchased, which must be equal to $1,000 or a multiple
thereof; and 
 (iii) that the Securities are to be repurchased by the Company pursuant to the applicable provisions of the
Securities and this Indenture. 
 If the Securities are Global Securities, the Repurchase Exercise Notice must comply with the Applicable Procedures. 

  
 -26- 

 A Holder may withdraw any Repurchase Exercise Notice (in whole or in part) by a written notice of
withdrawal delivered to the Paying Agent prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date. The notice of withdrawal must state: 

(i) the principal amount of the Securities for which the Repurchase Exercise Notice has been withdrawn; 

(ii) if Certificated Securities have been issued, the certificate numbers of the withdrawn Securities; and 

(iii) the principal amount, if any, that remains subject to the Repurchase Exercise Notice, which must be equal to $1,000 or a
multiple thereof. 
 If the Securities are Global Securities, the withdrawal notice must comply with the Applicable Procedures. 

(d) The Company must repurchase on a date (the “Fundamental Change Repurchase Date”) chosen by the Company that is no
less than 20 and no more than 35 days after the date of the Fundamental Change Repurchase Right Notice with respect to the occurrence of the relevant Fundamental Change, subject to extension to comply with applicable law. The Company shall deposit
with the Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.05) on or prior to 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date an amount of money
sufficient to repurchase all of the Securities to be repurchased at the Fundamental Change Repurchase Price. Subject to receipt of funds by the Paying Agent, payment for Securities surrendered for repurchase (and not withdrawn prior to the close of
business on the Business Day immediately preceding the Fundamental Change Repurchase Date) shall be made on the later of (i) the Fundamental Change Repurchase Date (provided the Holder has satisfied the conditions in
Section 3.05(c)) and (ii) the time of book-entry transfer or the delivery of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.05(c) by mailing checks for the amount payable to the Holders of
such Securities entitled thereto as they shall appear in the register of the Registrar; provided, however, that payments to the Depositary shall be made by wire transfer of immediately available funds to the
account of the Depositary or its nominee. If the Paying Agent holds money sufficient to pay the Fundamental Change Repurchase Price of the Securities on the Fundamental Change Repurchase Date, or any applicable extension thereof, then with respect
to the Securities that have been properly surrendered for repurchase and have not been validly withdrawn:  
 (i) such
Securities will cease to be outstanding and interest, if any, will cease to accrue on such Securities on the Fundamental Change Repurchase Date or any applicable extension thereof (whether or not book-entry transfer of the Securities is made or
whether or not the Securities are delivered to the Paying Agent); and 
 (ii) all other rights of the Holder of such
Securities will terminate on the Fundamental Change Repurchase Date (other than (x) the right to receive the Fundamental Change Repurchase Price upon delivery or transfer of the Securities and (y) if the Fundamental Change Repurchase Date
falls after a Regular Record Date but on or prior to the related Interest Payment Date, the right of the Holder of record on such Regular Record Date to receive the accrued and unpaid interest to, but not including, the Fundamental Change Repurchase
Date). 

  
 -27- 

 Section 3.06. Compliance With Securities Laws Upon Purchase of Securities. In
connection with any offer to purchase the Securities under Section 3.05, the Company shall (a) comply with the provisions of Rule 13e-4, Rule 14e-l (or any successor to either such Rule) and any other tender offer rules under the Exchange
Act that may then be applicable, (b) file a Schedule TO, if so required, or any other required schedule under the Exchange Act and (c) otherwise comply with all federal and state securities laws in connection with such offer by the Company
to purchase the Securities upon a Fundamental Change, in each case, so as to permit the rights of the Holders and obligations of the Company under Section 3.05 to be exercised in the time and in the manner specified therein.  

Section 3.07. No Repurchase Upon Acceleration. No Securities may be repurchased on any date at the option of Holders upon a
Fundamental Change if the principal amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of an acceleration resulting from a Default by the Company in the payment
of the Fundamental Change Repurchase Price with respect to such Securities). The Paying Agent will promptly return to the respective Holders thereof any Certificated Securities held by it following the acceleration of the Securities (except in the
case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Securities), and any instructions for book-entry transfer of the Securities in compliance with the
procedures of the Depositary shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been withdrawn.  

Section 3.08. Repayment to the Company. To the extent that the aggregate amount of cash deposited by the Company pursuant
to Section 3.05 exceeds the aggregate Fundamental Change Repurchase Price of the Securities or portions thereof that the Company is obligated to purchase, then promptly after the Fundamental Change Repurchase Date the Trustee or the Paying
Agent, as the case may be, shall return any such excess cash to the Company.  
 Section 3.09. Partial Repurchase.
Upon surrender of a Security that is to be repurchased in part pursuant to Section 3.05, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Security in an authorized denomination equal in principal
amount to the unrepurchased portion of the Security surrendered. 
 ARTICLE 4 

CONVERSION 

Section 4.01. Conversion Rights. (a) Subject to and upon compliance with the provisions of this Article 4, each Holder shall
have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or a multiple thereof) of such Security (i) subject to satisfaction of one or more of the conditions
described in subsections (b) through (f) of this Section 4.01, at any time prior to May 1, 2023, under the circumstances and during the periods set forth in subsections (b) through (f) of this Section 4.01,

  
 -28- 

 
and (ii) irrespective of the conditions set forth in subsections (b) through (f) of this Section 4.01, on or after May 1, 2023, and prior to the close of business on the
second Scheduled Trading Day immediately preceding the Maturity Date, in each case at an initial conversion rate of 46.0829 shares of Common Stock (subject to adjustment as provided in Section 4.04, the “Conversion Rate”) per
$1,000 principal amount of Securities (subject to the payment provisions of Section 4.02, the “Conversion Obligation”). In no event may any Security be surrendered for conversion after the close of business on the second
Scheduled Trading Day immediately preceding the Maturity Date. 
 (b) Prior to the close of business on the Business Day immediately
preceding May 1, 2023, a Holder may surrender all or any portion of its Securities for conversion at any time during any calendar quarter commencing after the calendar quarter ending on December 31, 2017 (and only during such calendar
quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter is
greater than or equal to 130% of the Conversion Price on each applicable Trading Day. The Company shall determine whether the Securities are convertible because the Sale Price condition has been met and provide written notice to the Holders, the
Trustee and the Conversion Agent (if other than the Trustee). 
 (c) Prior to the close of business on the Business Day immediately preceding
May 1, 2023, a Holder may surrender all or any portion of its Securities for conversion at any time during the five Business Day period after any five consecutive Trading Day period (the “Measurement Period”) in which the
Trading Price per $1,000 principal amount of the Securities, as determined following a request by a Holder in accordance with the procedures and conditions described below, for each Trading Day of the Measurement Period was less than 98% of the
product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each such Trading Day. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount
of the Securities unless the Company has requested such determination; and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the
Trading Price) unless a Holder of at least $500,000 in aggregate principal amount of the Securities requests in writing that the Company make such a determination and provides the Company with reasonable evidence that the Trading Price per $1,000
principal amount of the Securities would be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. At such time, the Company shall instruct the Bid Solicitation Agent (if other
than the Company) to determine, or if the Company is acting as the Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Securities beginning on the next Trading Day and on each successive Trading Day
until the Trading Day on which the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If the trading price condition has
been met, the Company shall promptly so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee). If, at any time after the trading price condition has been met, the Trading Price per $1,000 principal amount of Securities
is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such Trading Day, the Company shall promptly so notify the Holders, the Trustee and the Conversion Agent (if other than
the Trustee). 

  
 -29- 

 (d) If, prior to the close of business on the Business Day immediately preceding
May 1, 2023, the Company elects to: 
 (i) issue to all or substantially all holders of Common Stock any rights,
options or warrants entitling them, for a period of not more than 45 days after the announcement date of such issuance, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale
Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 

(ii) distribute to all or substantially all holders of Common Stock the Company’s assets, securities or rights, options or
warrants to purchase the Company’s securities, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day immediately
preceding the date of announcement of such distribution, 
 then, in either case, the Company shall notify the Holders at least 50 Scheduled Trading Days
prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has given such notice, a Holder may surrender all or any portion of its Securities for conversion at any time until the earlier of the close of business on Business
Day immediately preceding the Ex-Dividend Date for such issuance or distribution and the Company’s announcement that such issuance or distribution will not take place. 

(e) If, prior to the close of business on the Business Day immediately preceding May 1, 2023: 

(i) a transaction or event that constitutes a Fundamental Change occurs (or is anticipated to occur, as described below); 

(ii) a transaction or event that constitutes a Make-Whole Fundamental Change occurs (or is anticipated to occur, as described
below); or 
 (iii) the Company is a party to a consolidation, merger or other combination, statutory share exchange or sale,
lease or other transfer or disposition of all or substantially all of the Company and its Subsidiaries’ consolidated assets taken as a whole, in each case, pursuant to which the Common Stock would be converted into stock, other securities,
other property or assets (including cash or any combination thereof), 
 then, in each case, a Holder may surrender all or any portion of its Securities for
conversion at any time from or after the open of business on the date that is 50 Scheduled Trading Days prior to the anticipated effective date of the transaction (or, if later, the open of business on the Business Day immediately following the day
the Company gives notice of such transaction) until the close of business on the 35th Trading Day after the actual effective date of such transaction or, if such transaction also constitutes a Fundamental Change, until the close of business on the

  
 -30- 

 
Business Day immediately preceding the related Fundamental Change Repurchase Date. The Company shall notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) as
promptly as practicable following the date the Company publicly announces such transaction, but in no event less than 50 Scheduled Trading Days prior to the anticipated effective date of such transaction; or if the Company does not have knowledge of
such transaction at least 50 Scheduled Trading Days prior to the anticipated effective date of such transaction, within one Business Day of the date upon which the Company receives notice, or otherwise become aware, of such transaction, but in no
event later than the actual effective date of such transaction. 
 (f) If the Company gives a Redemption Notice with respect to any or all of
the Securities for redemption pursuant to Article 3, then a Holder may surrender all or any portion of its Securities for conversion at any time prior to the close of business on the Scheduled Trading Day prior to the Redemption Date, even if the
Securities are not otherwise convertible at such time. After that time, the right to convert shall expire pursuant to this clause, unless the Company defaults in the payment of the Redemption Price, in which case a Holder of Securities may convert
all or any portion of its Securities until the Scheduled Trading Day immediately preceding the date on which the Redemption Price has been paid or duly provided for. 

Section 4.02. Settlement Upon Conversion; Conversion Procedures. (a) Subject to this Section 4.02, Section 4.03
and Section 4.06, upon conversion of any Security, the Company shall pay or deliver, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Securities being converted, cash (“Cash
Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection (h) of this Section 4.02 (“Physical
Settlement”) or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection (h) of this Section
4.02 (“Combination Settlement”), at its election, as set forth in this Section 4.02. 

(i) All conversions for which the relevant Conversion Date occurs on or after May 1, 2023, and all conversions for which
the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice with respect to the Securities and prior to the related Redemption Date, shall be settled using the same Settlement Method (including the same relative
proportion of cash and/or shares of Common Stock). 
 (ii) Except for any conversions for which the relevant Conversion Date
occurs on or after May 1, 2023 and conversions for which the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice and prior to the related Redemption Date, the Company shall use the same Settlement Method
(including the same relative proportion of cash and/or shares of Common Stock) for all conversions with the same Conversion Date, but the Company shall not have any obligation to use the same Settlement Method with respect to conversions with
different Conversion Dates. 
 (iii) If, in respect of any Conversion Date (or, in the case of any conversions for which the
relevant Conversion Date occurs during the period (x) after the date of issuance of a Redemption Notice with respect to the Securities and prior to the related Redemption Date or (y) on or after May 1, 2023), the Company elects to
deliver a notice 

  
 -31- 

 
(the “Settlement Notice”) of the relevant Settlement Method in respect of such Conversion Date (or all Conversion Dates during such period, as the case may be), the Company,
through the Trustee, shall deliver such Settlement Notice to converting Holders no later than the close of business on the Trading Day immediately following the relevant Conversion Date (or, in the case of any conversions for which the relevant
Conversion Date occurs during the period (x) after the date of issuance of a Redemption Notice with respect to the Securities and prior to the related Redemption Date, in such Redemption Notice or (y) on or after May 1, 2023, no later
than May 1, 2023). If, with respect to any conversion, the Company does not elect a Settlement Method prior to the deadline set forth in the immediately preceding sentence, the Company shall no longer have the right to elect Cash Settlement or
Physical Settlement with respect to such conversion and the Company shall be deemed to have elected Combination Settlement in respect of its Conversion Obligation, and the Specified Dollar Amount per $1,000 principal amount of Securities shall be
equal to $1,000. Such Settlement Notice shall specify the relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount per $1,000 principal amount of
Securities. If the Company delivers a Settlement Notice electing Combination Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal amount of Securities in such Settlement Notice, the
Specified Dollar Amount per $1,000 principal amount of Securities shall be deemed to be $1,000. 
 (iv) The cash,
shares of Common Stock or combination of cash and shares of Common Stock in respect of any conversion of Securities (the “Settlement Amount”) shall be computed as follows: 

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

(B) if the Company elects to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company
shall pay to the converting Holder in respect of each $1,000 principal amount of Securities being converted cash in an amount equal to the sum of the Daily Conversion Values for each of the 40 consecutive VWAP Trading Days during the related
Observation Period; and 
 (C) if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in
respect of such conversion by Combination Settlement, the Company shall pay or deliver, as the case may be, in respect of each $1,000 principal amount of Securities being converted, a Settlement Amount equal to the sum of the Daily Settlement
Amounts for each of the 40 consecutive VWAP Trading Days during the related Observation Period. 

  
 -32- 

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

Notwithstanding the above, unless and until the Company obtains stockholder approval to issue a number of shares of Common Stock in
excess of 19.99% of the number of shares of Common Stock outstanding at the time the Securities are initially issued (the “Aggregate Share Cap”) upon conversion of the Securities in accordance with the continued listing standards of
The New York Stock Exchange, the Company will be required to settle all conversions of Securities using Cash Settlement or Combination Settlement with a Specified Dollar Amount such that the number of shares of Common Stock deliverable upon
conversion, if any, will not exceed the Aggregate Share Cap. This limitation will apply until either (x) the elimination of the Aggregate Share Cap is approved by the stockholders of the Company or (y) the Aggregate Share Cap is no longer
required under the continued listing standards of The New York Stock Exchange. The Company will use its reasonable best efforts to include for vote by its stockholders during its next annual stockholder meeting and will endorse in the proxy
materials for such meeting the approval, in accordance with the listing standards of The New York Stock Exchange, of the issuance of shares of Common Stock in excess of the Aggregate Share Cap upon conversion of the Securities. 

In addition, the Company will not enter into any transaction, or take any other action, that would result in any increase to the Conversion
Rate (whether under clauses (b)-(e) of Section 4.04 or under Section 4.03) that would result, in the aggregate, in the Securities being convertible into a number of shares of Common Stock in excess of any limitations imposed by the
continued listing standards of The New York Stock Exchange, without complying, if applicable, with the shareholder approval rules contained in such listing standards. 

(b) Before any Holder of a Security shall be entitled to convert a Security as set forth above, such Holder shall (i) in the case
of a Certificated Security (A) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth in the Form of Conversion Notice attached to the Form of Security set forth in Exhibit A hereto (a
“Conversion Notice”) or a facsimile of the Conversion Notice, at the office of the Conversion Agent and state in writing therein the principal amount of Securities to be converted, (B) deliver such Security, duly endorsed to
the Company or in blank (and accompanied by appropriate endorsement and transfer documents), to the Conversion Agent and (C) if required, pay funds equal to interest payable on the next Interest Payment Date as set forth in subsection
(f) of this Section 4.02 and (ii) in the case of a Global Security, comply with the Depositary’s procedures for converting a beneficial interest in a Global Security and, if required, pay funds equal to interest payable on the
next Interest Payment Date as set forth in subsection (f) of this Section 4.02. The Trustee (and, if different, the Conversion Agent) shall notify the Company of any conversion pursuant to this Article 4 on the Conversion Date for such
conversion. If a Holder has already delivered a 

  
 -33- 

 
Repurchase Exercise Notice with respect to a Security, the Holder may not surrender that Security for conversion until the Holder has withdrawn the Repurchase Exercise Notice in accordance with
Section 3.05(c). If a Holder submits its Securities for required repurchase, the Holder’s right to withdraw the Repurchase Exercise Notice and convert the Securities that are subject to repurchase will terminate at the close of business on
the Business Day immediately preceding the relevant Fundamental Change Repurchase Date. 
 If more than one Security shall be surrendered
for conversion at one time by the same Holder, the Conversion Obligation with respect to such Securities shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted
thereby) so surrendered. 
 (c) A Security shall be deemed to have been converted on the date (the “Conversion Date”)
that the Holder has complied with the requirements set forth in subsection (b) above. Except as set forth in Section 4.03 or Section 4.06, the Company shall deliver the consideration due in respect of the Conversion Obligation on the
third Business Day immediately following the relevant Conversion Date, if the Company elects Physical Settlement, or on the third Business Day immediately following the last VWAP Trading Day of the relevant Observation Period, in the case of Cash
Settlement or Combination Settlement.  
 (d) In case any Security shall be surrendered for partial conversion, the Company shall
execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Security so surrendered a new Security or Securities in authorized denominations in an aggregate principal amount equal to the unconverted
portion of the surrendered Security, without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer tax or similar governmental charge required by law
or that may be imposed in connection therewith as a result of the name of the Holder of the new Securities issued upon such conversion being different from the name of the Holder of the old Securities surrendered for such conversion. 

(e) Upon the conversion of an interest in a Global Security, the Trustee, or the Securities Custodian at the direction of the Trustee, shall
make a notation on such Global Security as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversion of Securities effected through the Conversion Agent (if other than the
Trustee). 
 (f) Except as described below, the Company shall not make any separate cash payment for accrued and unpaid interest, if any,
upon conversion of Securities. The Company’s settlement of the Conversion Obligation shall be deemed to satisfy in full its obligation to pay the principal amount of the Security and accrued and unpaid interest, if any, attributable to the
period to, but excluding, the relevant Conversion Date. As a result, accrued and unpaid interest, if any, to, but excluding, the Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Notwithstanding the
foregoing, if Securities are submitted for conversion after the close of business on a Regular Record Date, Holders of such Securities as of the close of business on such Regular Record Date shall receive the full amount of interest payable on such
Securities on the corresponding Interest Payment Date notwithstanding the conversion, and Securities surrendered for conversion after the close of business on a Regular 

  
 -34- 

 
Record Date and prior to the open of business on the immediately following Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the principal amount
of the Securities being converted; provided that no such payment need be made: 
 (i) for conversions following
the Regular Record Date immediately preceding the Maturity Date; 
 (ii) if the Company has specified a Redemption Date that
is after a Regular Record Date and on or prior to the corresponding Interest Payment Date; 
 (iii) if the Company has
specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date (or, if such Interest Payment Date is not a Business Day, the immediately following Business Day); or 

(iv) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to such
Security. 
 For the avoidance of doubt, all Holders of record on the Regular Record Date immediately preceding the Maturity Date or any
Fundamental Change Repurchase Date or Redemption Date shall receive the full interest payment due on the Maturity Date or other applicable Interest Payment Date, if any, regardless of whether their Securities have been converted following such
Regular Record Date. 
 Upon a conversion of Securities, such Person shall no longer be a Holder of such Securities surrendered for
conversion. 
 (g) The Person in whose name the shares of Common Stock shall be issuable upon conversion shall be deemed to be a stockholder
of record as of the close of business on the relevant Conversion Date (if the Company elects to satisfy the related Conversion Obligation by Physical Settlement) or the last Trading Day of the relevant Observation Period (if the Company elects to
satisfy the related Conversion Obligation by Combination Settlement), as the case may be. Upon a conversion of Securities, such Person shall no longer be a Holder of such Securities surrendered for conversion. 

(h) The Company shall not issue any fractional share of Common Stock upon conversion of the Securities and shall instead pay cash in lieu of
delivering any fractional share of Common Stock issuable upon conversion based on the Daily VWAP for the relevant Conversion Date (in the case of Physical Settlement) or based on the Daily VWAP for the last Trading Day of the relevant Observation
Period (in the case of Combination Settlement). For each Security surrendered for conversion, if the Company has elected Combination Settlement, the full number of shares that shall be issued upon conversion thereof shall be computed on the basis of
the aggregate Daily Settlement Amounts for the relevant Observation Period and any fractional shares remaining after such computation shall be paid in cash. 

(i) The Company covenants that all shares of Common Stock issued upon conversion of the Securities will be fully paid and non-assessable by the
Company and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants that if at 

  
 -35- 

 
any time the Common Stock shall be listed on any national securities exchange or automated quotation system the Company will use its commercially reasonable efforts to list and keep listed, so
long as the Common Stock shall be so listed on such exchange or automated quotation system, any Common Stock issuable upon conversion of the Securities (it being understood that as long as the Aggregate Share Cap is applicable in accordance with
Section 4.02(a), only the number of shares of Common Stock that may be issued in accordance with the Aggregate Share Cap need be so listed). 

Section 4.03. Adjustment to Conversion Rate Upon Conversion Upon a Make-Whole Fundamental Change. (a) If, prior to the
Maturity Date, the Effective Date of a Make-Whole Fundamental Change occurs, and a Holder elects to convert its Securities in connection with such Make-Whole Fundamental Change, the Company shall, under the circumstances set forth in this
Section 4.03, increase the Conversion Rate for the Securities so surrendered for conversion as described below.  
 (b) Upon
surrender of Securities for conversion in connection with a Make-Whole Fundamental Change, the Company shall, at its option, satisfy its Conversion Obligation by Physical Settlement, Cash Settlement or Combination Settlement. However, if the
consideration for the Common Stock in any Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change is composed entirely of cash, for any conversion of the Securities following the Effective Date of such
Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount in cash per $1,000 principal amount of converted Securities equal to the Conversion
Rate (including any adjustment described in this Section 4.03), multiplied by such Stock Price. In such event, the Conversion Obligation shall be determined and paid to Holders in cash on the third Business Day following the Conversion
Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date and publish the information
on its internal website or through such other public medium as the Company may use at that time no later than five Business Days after such Effective Date. 

(c) The number of additional shares of Common Stock (the “Additional Shares”), if any, by which the Conversion Rate
shall be increased in connection with a Make-Whole Fundamental Change shall be determined by reference to the table set forth in subsection (f) of this Section 4.03, based on the date on which the Make-Whole Fundamental Change occurs or
becomes effective (in each case, the “Effective Date”) and the price paid (or deemed to be paid) per share of Common Stock in such Make-Whole Fundamental Change (the “Stock Price”). If holders of Common Stock
receive in exchange for their Common Stock only cash in a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share of Common Stock. In the case of any
other Make-Whole Fundamental Change, the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the
Make-Whole Fundamental Change.  

  
 -36- 

 (d) A conversion of Securities by a Holder shall be deemed for these purposes to be “in
connection with” a Make-Whole Fundamental Change if the Conversion Notice is received by the Conversion Agent (or, in the case of a Global Note, in compliance with the relevant Depositary’s procedures for conversion) on or after the
Effective Date of the Make-Whole Fundamental Change and up to, and including the Business Day immediately preceding the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental
Change but for the proviso in clause (b) of the definition of Fundamental Change, the 35th Trading Day immediately following the actual Effective Date of the Make-Whole Fundamental Change). 

(e) The Stock Prices set forth in the column headings of the table set forth in subsection (f) of this Section 4.03 shall be adjusted
as of any date on which the Conversion Rate is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the 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 Conversion Rate increase amounts shall be adjusted at the same time and in the same manner as the
Conversion Rate as set forth in Section 4.04. 
 (f) The following table sets forth the number of Additional Shares by which the
Conversion Rate will increase as described in this Section 4.03 for each Stock Price and Effective Date set forth below: 
  

																																																													
	 	 	Stock Price	 
	 Effective Date
	 	$15.50	 	 	$17.50	 	 	$20.00	 	 	$21.70	 	 	$23.00	 	 	$25.00	 	 	$28.21	 	 	$30.00	 	 	$32.50	 	 	$35.00	 	 	$40.00	 	 	$45.00	 	 	$50.00	 	 	$55.00	 	 	$60.00	 
	 July 31, 2017
	 	 	18.4332	 	 	 	14.8729	 	 	 	11.7588	 	 	 	10.2007	 	 	 	9.2320	 	 	 	8.0192	 	 	 	6.5789	 	 	 	5.9401	 	 	 	5.2511	 	 	 	4.7006	 	 	 	3.8802	 	 	 	3.2998	 	 	 	2.8775	 	 	 	2.5477	 	 	 	2.2805	 
	 August 1, 2018
	 	 	18.4332	 	 	 	14.0252	 	 	 	10.7486	 	 	 	9.1407	 	 	 	8.1529	 	 	 	6.9364	 	 	 	5.5378	 	 	 	4.9286	 	 	 	4.2950	 	 	 	3.8024	 	 	 	3.0933	 	 	 	2.6157	 	 	 	2.2746	 	 	 	2.0121	 	 	 	1.8025	 
	 August 1, 2019
	 	 	18.4332	 	 	 	13.1610	 	 	 	9.6290	 	 	 	7.9257	 	 	 	6.8972	 	 	 	5.6568	 	 	 	4.2953	 	 	 	3.7216	 	 	 	3.1593	 	 	 	2.7429	 	 	 	2.1805	 	 	 	1.8286	 	 	 	1.5886	 	 	 	1.4066	 	 	 	1.2620	 
	 August 1, 2020
	 	 	18.4332	 	 	 	12.3752	 	 	 	8.4164	 	 	 	6.5198	 	 	 	5.3968	 	 	 	4.0822	 	 	 	2.7358	 	 	 	2.2115	 	 	 	1.7588	 	 	 	1.4620	 	 	 	1.1213	 	 	 	0.9420	 	 	 	0.8231	 	 	 	0.7339	 	 	 	0.6619	 
	 August 1, 2021
	 	 	18.4332	 	 	 	11.9843	 	 	 	7.5742	 	 	 	5.3484	 	 	 	3.9452	 	 	 	2.1738	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 August 1, 2022
	 	 	18.4332	 	 	 	11.2783	 	 	 	6.6155	 	 	 	4.4699	 	 	 	3.2062	 	 	 	1.7079	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 
	 August 1, 2023
	 	 	18.4332	 	 	 	11.0599	 	 	 	3.9171	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 

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

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

(ii) if the Stock Price is greater than $60.00 per share (subject to adjustment in the same manner as the Stock Prices set
forth in the column headings of the table above), the Conversion Rate shall not be increased; and 
 (iii) if the Stock Price
is less than $15.50 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table), the Conversion Rate shall not be increased. 

  
 -37- 

 Notwithstanding the foregoing, in no event shall the Conversion Rate per $1,000 principal amount
of Securities exceed 64.5161 shares of Common Stock, subject to adjustment in the same manner as the Conversion Rate as set forth in Section 4.04. 

Section 4.04. Conversion Rate Adjustments. The Conversion Rate shall be adjusted from time to time by the Company upon the
occurrence of any of the transactions described in this Section 4.04, except that the Company shall not make any adjustments to the Conversion Rate if Holders participate (other than in the case of a share split or share combination), at the
same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Securities, in any of the transactions described in this Section 4.04 without having to convert their Securities as if they held a number of
shares of Common Stock equal to (i) the Conversion Rate, multiplied by (ii) the principal amount (expressed in thousands) of Securities held by such Holder. 

(b) If the Company exclusively issues shares of Common Stock as a dividend or distribution on shares of Common Stock, or if the Company effects
a share split or share combination on shares of Common Stock, the Conversion Rate shall be adjusted based on the following formula: 
  

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share
combination, as applicable;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date, as applicable;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date, as applicable, before giving effect to such dividend, distribution, share split or share
combination; and
			
	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 Any adjustment made under this Section 4.04(b) shall become effective immediately after the open of business on the
Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the Effective Date for such share split or share combination, as applicable. If any dividend or distribution of the type described in this
Section 4.04(a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would
then be in effect if such dividend or distribution had not been declared. 

  
 -38- 

 (c) If the Company issues to all or substantially all holders of Common Stock any rights, options
or warrants entitling them, for a period of not more than 45 days after the announcement date of such issuance, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices
of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, the Conversion Rate shall be increased based on the following formula: 

 
 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 Any increase made under this Section 4.04(c) shall be made successively whenever any such rights, options or warrants are
issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that such rights, options or warrants are not exercised prior to their expiration or shares of the Common Stock are not
delivered after the exercise of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made
on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such
Ex-Dividend Date for such issuance had not occurred. 
 For purposes of this Section 4.04(c) and for the purpose of
Section 4.01(d)(i), in determining whether any rights, options or warrants entitle the holders of Common Stock to subscribe for or purchase shares of Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock
for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, 

  
 -39- 

 
and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants
and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(d) If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other of its assets or property or rights,
options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding (i) dividends, distributions or issuances as to which an adjustment was effected pursuant to
Section 4.04(b) or Section 4.04(c), (ii) dividends or distributions paid exclusively in cash as to which the provisions set forth in Section 4.04(c) below shall apply, (iii) any dividends and distributions in connection with
a specified corporate event as described below under Section 4.06 and (iv) Spin-Offs, as to which the provisions set forth below in this Section 4.04(d)(i) shall apply (any of such shares of
Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire shares of Capital Stock or other securities of the Company distributed with respect to each outstanding share of Common Stock, the
“Distributed Property”), then the Conversion Rate shall be increased based on the following formula: 
  

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	SP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Board of Directors) of the Distributed Property on the Ex-Dividend Date for such distribution.

 Any increase made under the portion of this Section 4.04(c) above shall become effective immediately after the open of
business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such distribution had not been declared.
Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder shall
receive, in respect of each $1,000 principal amount of such Holder’s Securities, at the same time and upon the same terms as holders of Common Stock, the amount and kind of Distributed Property such Holder would have received if such Holder
owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. 

  
 -40- 

 With respect to an adjustment pursuant to this Section 4.04(d) where there has been a payment of a dividend
or other distribution on the Common Stock or shares of capital stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit, that are, or, when issued, will be, listed or admitted for trading on a
U.S. national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 
  

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such Spin-Off;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such Spin-Off;
			
	FMV0	  	=	  	the average of the Last Reported Sale Prices of the capital stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of Last
Reported Sale Price as if references therein to the Common Stock were to such capital stock or similar equity interest) over the first 10 consecutive Trading Day period beginning on, and including, the Ex-Dividend Date of the Spin-Off (the
“Valuation Period”); and
			
	MP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

 The increase to the Conversion Rate under the preceding paragraph will occur on the last Trading Day of the Valuation Period;
provided that (x) in respect of any conversion of Securities for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the Valuation Period, the reference to “10” in the portion of this
Section 4.04(d) related to Spin-Offs shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date for such Spin-Off and such Conversion Date in determining the Conversion Rate and (y) in
respect of any conversion of Securities for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the relevant Observation Period for such conversion and within the Valuation Period, the reference to
“10” in the portion of this Section 4.04(d) related to Spin-Offs shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date for such Spin-Off and such Trading Day in determining the
Conversion Rate as of such Trading Day. In addition, if the Ex-Dividend Date for such Spin-Off is after the 10th Trading Day immediately preceding, and including, the end of any Observation Period in respect
of a conversion of Securities, references in the portion of this Section 4.04(d) related to Spin-Offs to 10 consecutive Trading Days shall be deemed replaced, solely in respect of that conversion, with such lesser number of Trading Days as have
elapsed from, and including, the Ex-Dividend Date for such Spin-Off to, and including, the last Trading Day of such Observation Period. If such Spin-Off does not occur, the Conversion Rate shall be decreased to be the Conversion Rate that would then
be in effect if such distribution had not been declared, effective as of the date on which the Board of Directors (or its designee) determines not to consummate such Spin-Off. 

  
 -41- 

 For purposes of Section 4.04(b), Section 4.04(c) and this Section 4.04(d), if any
dividend or distribution to which this Section 4.04(d) is applicable also includes one or both of: 
 (A) a dividend or
distribution of shares of Common Stock to which Section 4.04(b) is applicable (the “Clause A Distribution”); or 

(B) a dividend or distribution of rights, options or warrants to which Section 4.04(c) is applicable (the “Clause B
Distribution”), 
 then (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution,
shall be deemed to be a dividend or distribution to which this Section 4.04(d) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section 4.04(d) with respect to such Clause C
Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 4.04(b) and
Section 4.04(c) with respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend Date
of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the open of business on such Ex-Dividend Date or
Effective Date” within the meaning of Section 4.04(b) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 4.04(c). 

(e) If any cash dividend or distribution is made to all or substantially all holders of the Common Stock, the Conversion Rate shall be adjusted
based on the following formula: 
  
 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	SP0	  	=	  	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
			
	C	  	=	  	the amount in cash per share the Company distributes to all or substantially all holders of Common Stock.

  
 -42- 

 Any increase pursuant to this Section 4.04(e) shall become effective immediately after the open of business
on the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not to make or pay such dividend or
distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder shall receive, for each $1,000 principal amount of Securities, at the same time and upon the same terms as holders of
shares of the Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution. 

(f) If the Company or any of its Subsidiaries makes a payment in respect of a tender or exchange offer for the Common Stock, to the
extent that the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the average of Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and
including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Date”), the Conversion Rate shall be increased based on the following
formula: 
  
 

 
 where, 
  

					
			
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Expiration Date (prior to giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange offer);
			
	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after the Expiration Date (after giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange offer); and
			
	SP1	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date.

  
 -43- 

 The increase to the Conversion Rate under this Section 4.04(f) shall occur at the close of business on the
10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date; provided that (x) in respect of any conversion of Securities for which Physical Settlement is applicable, if the relevant
Conversion Date occurs during the 10 Trading Days immediately following, and including, the Trading Day next succeeding the Expiration Date, references in the preceding paragraph with respect to 10 consecutive Trading Days shall be deemed
replaced with such lesser number of Trading Days as have elapsed between the Expiration Date and such Conversion Date in determining the Conversion Rate and (y) in respect of any conversion of Securities for which Cash Settlement or Combination
Settlement is applicable, for any Trading Day that falls within the relevant Observation Period for such conversion and within the 10 Trading Days immediately following, and including, the Trading Day next succeeding the expiration date of any
tender or exchange offer, references in the preceding paragraph with respect to 10 consecutive Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer
and such Trading Day in determining the Conversion Rate as of such Trading Day. In addition, if the Trading Day next succeeding the Expiration Date is after the 10th Trading Day immediately preceding, and including, the end of any Observation Period
in respect of a conversion of Securities, references in the preceding paragraph and this portion of this Section 4.04(f) to 10 consecutive Trading Days shall be deemed to be replaced, solely in respect of that conversion, with such lesser
number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date, and including, the last Trading Day of such Observation Period. 

In the event that the Company or any of its Subsidiaries is obligated to purchase Common Stock pursuant to any such tender offer or exchange
offer, but the Company, or such Subsidiary is, permanently prevented by applicable law from effecting any such purchases, or all such purchases are rescinded, then the Conversion Rate shall again be adjusted to be the Conversion Rate that would then
be in effect if such tender offer or exchange offer had not been made or had been made only in respect of the purchases that have been effected. 

(g) Notwithstanding this Section 4.04 or any other provision of this Indenture or the Securities, if a Conversion Rate adjustment becomes
effective on any Ex-Dividend Date, and a Holder that has converted its Securities on or after such Ex-Dividend Date and on or prior to the related Record Date would be treated as the record holder of the shares of Common Stock as of the related
Conversion Date as described under Section 4.02(g) based on an adjusted Conversion Rate for such Ex-Dividend Date, then, notwithstanding the Conversion Rate adjustment provisions in this Section 4.04, the Conversion Rate adjustment
relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall be treated as if such Holder were the record owner of the shares of Common Stock on an unadjusted basis and participate in the related
dividend, distribution or other event giving rise to such adjustment. 

  
 -44- 

 (h) Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance of
shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible or exchangeable securities. In addition, the Company shall not adjust the
Conversion Rate for guarantees issued in respect of any of its outstanding securities. 
 (i) In addition to those adjustments required by
subsections (b), (c), (d), (e) and (f) of this Section 4.04, and to the extent permitted by applicable law and subject to the applicable rules of the Relevant Stock Exchange, the Company from time to time may increase the Conversion
Rate by any amount for a period of at least 20 Business Days if the Board of Directors has determined that such increase would be in the Company’s best interest. In addition, and to the extent permitted by applicable law and subject to the
applicable rules of the Relevant Stock Exchange, the Company may (but is not required to) increase the Conversion Rate, as the Board of Directors considers advisable, to avoid or diminish any income tax to holders of Common Stock or rights to
purchase Common Stock in connection with any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for tax purposes. Whenever the Conversion Rate is increased pursuant to either of the preceding two
sentences, the Company shall mail to the Holder of each Security at its last address appearing on the register of the Registrar a notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice
shall state the increased Conversion Rate and the period during which it will be in effect. 
 (j) Except as stated in this
Section 4.04, the Conversion Rate shall not be adjusted: 
 (i) upon the issuance of any shares of Common Stock pursuant
to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

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

(iii) 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 (ii) of this subsection (i) and outstanding as of the date the Securities were first issued; 

(iv) for ordinary course of business stock repurchases that are not tender offers referred to in clause (f) of this
Section 4.04, including structured or derivative transactions or pursuant to a stock repurchase program approved by the Board of Directors; 

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

(vi) for accrued and unpaid interest, if any. 

(k) All calculations and other determinations in respect of the Conversion Rate shall be made by the Company to the nearest 1/10,000th of a
share. Notwithstanding this Section 4.04 or any other provision of this Indenture, in no event shall the Conversion Rate be adjusted such that the Conversion Price is less than the par value per share of the Common Stock. 

  
 -45- 

 (l) Whenever the Conversion Rate is adjusted pursuant to this Section 4.04, the Company
shall compute the adjusted Conversion Rate in accordance with this Section 4.04 and shall prepare an Officers’ Certificate setting forth (i) the adjusted Conversion Rate, (ii) the subsection of this Section 4.04 pursuant to
which such adjustment has been made, showing in reasonable detail the facts upon which such adjustment is based, (iii) the calculation of such adjustment and (iv) the date as of which such adjustment is effective, and such Officers’
Certificate shall promptly be delivered to the Trustee and the Conversion Agent (if other than the Trustee) (which certificates shall be conclusive evidence of the accuracy of such adjustment absent manifest error). As soon as practicable after each
such adjustment, the Company shall deliver to the Holders a notice stating that the Conversion Rate has been adjusted and setting forth the adjusted Conversion Rate. Unless and until a Responsible Officer of the Trustee shall receive an
Officers’ Certificate with respect to an adjustment of the Conversion Rate, the Trustee may assume without inquiry that the Conversion Rate has not been adjusted and that the last Conversion Rate of which it has knowledge remains in effect.
Neither the Trustee nor the 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 Securities desiring
inspection thereof at its office during normal business hours. Simultaneously with an adjustment of the Conversion Rate, the Company shall disseminate a press release detailing the new Conversion Rate and other relevant information. 

(m) For purposes of this Section 4.04, the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. 
 Section 4.05. Adjustments of Prices. Whenever any provision of this Indenture
requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including an Observation Period and, if applicable, the period for
determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an
adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or Expiration Date, as the case may be, of the event occurs, at any time during the period when the Last Reported Sale Price, the Daily VWAPs, the Daily Conversion Values
or the Daily Settlement Amounts are to be calculated. 
 Section 4.06. Recapitalizations, Reclassifications and
Changes of the Common Stock. (a) In the case of: 
 (i) any recapitalization, reclassification or change of
the Common Stock (other than changes resulting from a subdivision or combination of the Common Stock), 
 (ii) any
consolidation, merger or other combination involving the Company, 

  
 -46- 

 (iii) any sale, lease or other transfer or disposition to a third party of all or
substantially all of the consolidated assets of the Company and its Subsidiaries taken as a whole, or 
 (iv) any statutory
share exchange, 
 in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other
property or assets (including cash or any combination thereof) (any such event, a “Specified Transaction”), then the Company or the successor or purchasing corporation, as the case may be, shall execute with the Trustee a
supplemental indenture permitted under Section 10.01(g), providing that, at and after the effective time of such Specified Transaction, the right to convert each $1,000 principal amount of Securities shall be changed into a right to convert
such principal amount of Securities into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion
Rate immediately prior to such Specified Transaction would have owned or been entitled to receive (the “Reference Property”) upon the occurrence of such Specified Transaction; provided,
however, that at and after the effective time of the Specified Transaction (i) the Company shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion
of Securities, as set forth under Section 4.02 and (ii)(x) any amount payable in cash upon conversion of the Securities as set forth under Section 4.02 shall continue to be payable in cash, (y) any shares of Common Stock that the
Company would have been required to deliver upon conversion of the Securities as set forth under Section 4.02 shall instead be deliverable in units of Reference Property (with a “unit of Reference Property” being the kind and amount
of shares of stock, other securities or other property or assets that a holder of one share of Common Stock would have owned or been entitled to receive upon such Specified Transaction and (z) the value of any Common Equity included in a unit
of Reference Property that is listed or quoted on a national securities exchange or market shall be calculated using a volume weighted price (determined in a manner reasonably consistent with the definition of Daily VWAP) of such Common Equity. The
value of any other property (other than cash) included in a unit of Reference Property shall be determined in good faith by the Board of Directors. If the Specified Transaction causes the Common Stock to be converted into, or exchanged for, the
right to receive more than a single type of consideration (determined based in part upon any form of shareholder election), then the Reference Property into which the Securities will be convertible shall be deemed to be (i) the weighted average
of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election or (ii) if no holders of Common Stock affirmatively make such an election, the types and amounts of consideration
actually received by the holders of Common Stock. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the weighted average as soon as practicable after the determination is made. 

If the holders of Common Stock receive only cash in such Specified Transaction, then for all conversions of Securities that occur after the
effective date of such Specified Transaction (x) the consideration due upon conversion of each $1,000 principal amount of Securities shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be
increased pursuant to Section 4.03), multiplied by the price paid per share of Common Stock in such Specified Transaction and (y) the Company shall satisfy the Conversion Obligation by paying such cash amount to converting Holders
on the third Business Day immediately following the Conversion Date. 

  
 -47- 

 Such supplemental indenture described in the second immediately preceding paragraph shall provide
for (x) anti-dilution adjustments that shall be as nearly equivalent as practicable to the adjustments provided for in this Section 4.04, with respect to any Reference Property consisting of Common Equity and (y) with respect to any
other Reference Property, such adjustments (if any) that the Board of Directors or the board of directors of the successor determines in good faith are appropriate. If, in the case of any Specified Transaction, the Reference Property includes shares
of stock, securities or other property or assets (including cash or any combination thereof) of a Person other than the successor or purchasing corporation, as the case may be, in such Specified Transaction, then such supplemental indenture shall
also be executed by such other Person and shall contain such additional provisions to protect the interests of the Holders as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including to the extent required by
the Board of Directors and practicable the provisions providing for the repurchase rights set forth in Article 3. 
 (b) In the event the
Company shall execute a supplemental indenture pursuant to subsection (a) of this Section 4.06, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of
cash, securities or property or asset that will comprise the Reference Property after any such Specified Transaction, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly mail
notice thereof to all Holders and issue a press release containing such information and publish the same on the Company’s internal website or through such other public medium as the Company may use at that time. The Company shall cause notice
of the execution of such supplemental indenture to be mailed to each Holder, at its address appearing on the register of the Registrar provided for in this Indenture, within 20 days after execution thereof. Failure to deliver such notice shall not
affect the legality or validity of such supplemental indenture. 
 (c) The Company shall not become a party to any Specified Transaction
unless its terms are consistent with this Section 4.06. None of the foregoing provisions shall affect the right of a Holder to convert its Securities as set forth in Section 4.01 and Section 4.02 prior to the effective date of such
Specified Transaction. 
 (d) The above provisions of this Section 4.06 shall similarly apply to successive Specified Transactions. 

Section 4.07. Cancellation of Converted Securities. All Certificated Securities 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 this Indenture. Upon conversions of beneficial interests in any Global Security, the Trustee or the Securities
Custodian, at the direction of the Trustee, shall reduce the aggregate principal amount of outstanding Securities represented by such Global Security to reflect the conversion.  

  
 -48- 

 Section 4.08. Stockholders Rights. Rights, options or warrants distributed by the
Company pursuant to a stockholder rights plan to all or substantially all holders of Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or under certain
circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are not exercisable; and
(iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been distributed for purposes of Section 4.04(d) (and no adjustment to the Conversion Rate under Section 4.04(d) will be required)
until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under
Section 4.04(d). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights, options or warrants
become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new
rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders thereof). In addition, in the event of any distribution
(or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for
which an adjustment to the Conversion Rate under Section 4.04(d) was made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final
redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed
distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming
such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated
without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued. A distribution of rights pursuant to such a stockholder rights plan shall not trigger a Conversion Rate
adjustment pursuant to Section 4.04(d) if Holders participate in such distribution on an as-converted basis in accordance with the first paragraph of Section 4.04. 

Section 4.09. Trustee’s Disclaimer. The Trustee shall have no duty to determine when an adjustment under this Article
4 should be made, how it should be made or what such adjustment should be, but may accept as conclusive evidence of that fact or the correctness of any such adjustment, and shall be protected in relying upon, the Officers’ Certificate that the
Company is obligated to deliver to the Trustee pursuant to Section 4.04(l). The Trustee makes no representation as to the amount of any cash paid upon conversion of Securities, and the Trustee shall not be responsible for the Company’s
failure to comply with any provisions of this Article 4. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for determination of the Daily Conversion Values. In addition, in no event shall the Trustee or
Conversion Agent be responsible for making any calculations under this Indenture or for determining amounts to be paid or for monitoring any Stock Price. For the avoidance of doubt, the Trustee and Conversion Agent shall rely conclusively on the
calculations and  

  
 -49- 

 
information provided to them by the Company as to the Daily VWAP, Trading Price, Daily Conversion Value and Last Reported Sale Price and as to any other matter that the Company is to calculate.
Nor shall the Trustee or Conversion Agent be charged with knowledge of or have any duties to monitor any Measurement Period or Observation Period. 

The Trustee shall not be under any responsibility to determine the correctness of any provisions contained in any supplemental
indenture executed pursuant to Section 6.01, but may accept as conclusive evidence of the correctness thereof, and shall be fully protected in relying upon, the Officers’ Certificate and Opinion of Counsel with respect thereto which the
Company is obligated to file with the Trustee pursuant to Section 6.01. 
 Section 4.10. Exchange in Lieu of
Conversion. Notwithstanding anything herein to the contrary, when a Holder surrenders Securities for conversion, the Company may, at its election, (an “Exchange Election”) direct the Conversion Agent in writing to
surrender, on or prior to the second Business Day following the Conversion Date, such Securities to a financial institution designated by the Company for exchange in lieu of conversion. In order to accept any Securities surrendered for conversion,
the designated financial institution must agree to timely deliver, to such Holder, in exchange for such Securities, the cash, shares of Common Stock or combination thereof, that would otherwise be due upon conversion, as provided under
Section 4.01 (the “Conversion Consideration”). If the Company makes an Exchange Election, the Company shall, by the close of business on the second Business Day following the relevant Conversion Date, notify
the Holder surrendering Securities for conversion that it has made the Exchange Election and shall notify the designated financial institution of the settlement method the Company has elected with respect to such conversion and the relevant deadline
for delivery of the relevant Conversion Consideration. 
 Any Securities exchanged by the designated financial institution will
remain outstanding, subject to the applicable procedures of DTC. If the designated financial institution agrees to accept any Securities for exchange but does not timely deliver the related conversion consideration, or if such designated financial
institution does not accept the Securities for exchange, the Company shall deliver the relevant conversion consideration as if the Company had not made an Exchange Election. 

The Company’s designation of a financial institution to which the Securities may be submitted for exchange does not require the financial
institution to accept any Securities (unless the financial institution has separately made an agreement with the Company). The Company may, but is not obligated to, enter into a separate agreement with any designated financial institution that would
compensate it for any such transactions. 
 ARTICLE 5 

COVENANTS 

Section 5.01. Payment on the Securities. The Company shall promptly make all payments in respect of the Securities on the
dates and in the manner provided in the Securities and this Indenture. Principal (including the Fundamental Change Repurchase Price or Redemption Price, if applicable) of and interest on the Securities shall be considered paid on the 

  
 -50- 

 
date it is due, if the Paying Agent (if other than the Company or an Affiliate thereof) holds as of 11:00 a.m., New York City time, on the due date money, deposited by the Company or an Affiliate
thereof in immediately available funds, designated for and sufficient to pay all principal (including the Fundamental Change Repurchase Price or Redemption Price, if applicable) and interest then due on the Securities. 

Section 5.02. SEC Reports and Rule 144A Information Requirement. (a) The Company shall file with the Trustee within 15
days after the same are required to be filed with the SEC, copies of any documents or reports that the Company is required to file with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act (giving effect to any grace period provided
by Rule 12b-25 under the Exchange Act). Any such document or report that the Company files with the SEC via the EDGAR system (or any successor thereto) shall be deemed to be filed with the Trustee for purposes of this Section 5.02 at the time
such documents are filed via EDGAR (or such successor). 
 (b) Delivery of such reports, information and documents to the Trustee is
for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any
of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the
covenants or with respect to any reports or other documents filed with the SEC or on EDGAR or any website hereunder, or participate in any conference calls. 

(c) At any time the Company is not subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Securities
or any shares of Common Stock issued upon conversion thereof shall, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, promptly furnish to the Trustee and shall, upon written
request, provide to any Holder, beneficial owner or prospective purchaser of such Securities or any shares of Common Stock issued upon conversion of such Securities the information required to be delivered pursuant to Rule 144A(d)(4) under the
Securities Act to facilitate the resale of such Securities or shares of Common Stock pursuant to Rule 144A under the Securities Act. The Company shall take such further action as any Holder or beneficial owner of such Securities or Common Stock may
reasonably request to the extent from time to time required to enable such Holder or beneficial owner to sell such Securities or shares of Common Stock in accordance with Rule 144A under the Securities Act, as such rule may be amended from time to
time. 
 (d) If, at any time during the six-month period beginning on, and including, the date that is six months after the last date
of original issuance of the Securities, (the “Original Issuance Date”), the Company fails to timely file any report that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, as applicable
(other than reports on Form 8-K), or the Securities are not otherwise freely tradeable by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the immediately preceding three months
(as a result of restrictions under U.S. securities laws or the terms of the Securities or this Indenture), the Company shall pay Additional Interest on the Securities. Such Additional Interest shall accrue on the Securities at the rate of
0.50% per annum of the principal amount of the Securities outstanding for each day during such period for which  

  
 -51- 

 
the Company’s failure to file has occurred and is continuing or the Securities are not otherwise freely tradable by Holders other than the Company’s Affiliates or Holders that were the
Company’s Affiliates at any time during the immediately preceding three months (without restrictions pursuant to U.S. securities laws or the terms of the Securities or this Indenture). As used in this Section 5.02(d), documents or reports
that the Company is required to “file” with the SEC pursuant to Section 13 or 15(d) of the Exchange Act do not include documents or reports that the Company furnishes to the SEC pursuant to Section 13 or 15(d) of the Exchange
Act. 
 (e) If, and for so long as, the restrictive legend on the Securities specified in Section 2.07(c) has not been removed, the
Securities are assigned a restricted CUSIP or the Securities are not otherwise freely tradeable by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the immediately preceding three
months (without restrictions pursuant to U.S. securities laws or the terms of the Securities or this Indenture), as of the 365th day after the Original Issuance Date, the Company shall pay Additional Interest on the Securities at a rate equal to
0.50% per annum of the principal amount of Securities outstanding until the restrictive legend has been removed from the Securities, the Securities are assigned an unrestricted CUSIP and the Securities are freely tradable by Holders other than
the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the immediately preceding three months. 

(f) Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on
the Securities. 
 (g) The Additional Interest that is payable in accordance with Section 5.02(d) or Section 5.02(e), will be in
addition to any Additional Interest payable as a result of the Company’s election pursuant to Section 7.04. 
 (h) If Additional
Interest is payable by the Company pursuant to Section 5.02(d) or Section 5.02(e), the Company shall deliver to the Trustee an Officers’ Certificate to that effect stating (i) the amount of such Additional Interest that is
payable and (ii) the date on which such Additional Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such
Additional Interest is payable. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 

Section 5.03. Compliance Certificates. (a) The Company shall deliver to the Trustee, within 90 days after the end of each
fiscal year during which any Securities were outstanding, an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of any Default and
whether or not the signers thereof know of any Default or Event of Default that occurred during such fiscal year. Such Officers’ Certificate shall contain a certification from the principal executive officer, principal financial officer or
principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants under this
Indenture. For purposes of this Section 5.03, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If any Officer of the Company signing such Officers’
Certificate has knowledge of such a Default or Event of Default, the Officers’ Certificate shall describe any such Default or Event of Default and its status and what actions the Company is taking or proposes to take with respect thereto. 

  
 -52- 

 (b) The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, an
Officers’ Certificate specifying any Default or Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. 

Section 5.04. Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture.  

Section 5.05. Maintenance of Corporate Existence. Subject to Article 6, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence.  
 Section 5.06. Stay, Extension and
Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law
which would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the
performance of this Indenture, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of
any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE 6 

CONSOLIDATION, MERGER, SALE, CONVEYANCE, ASSIGNMENT,
TRANSFER, LEASE OR OTHER 
 DISPOSITION 

Section 6.01. Company May Consolidate, Etc., Only on Certain Terms. The Company shall not consolidate with or merge with or
into or otherwise combine with, any other Person or sell, lease or otherwise transfer or dispose of all or substantially all of the Company’s and its Subsidiaries’ consolidated assets, taken as a whole, to another Person, unless: 

 (a) the Company is the surviving corporation or the resulting, surviving or transferee Person (if not the Company) shall be a
corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and such corporation (if not the Company) expressly assumes by supplemental indenture all of the Company’s
obligations under the Securities and this Indenture; and 
 (b) immediately after giving effect to such transaction, no Default or Event of
Default shall have occurred and be continuing under this Indenture. 

  
 -53- 

 The Company shall deliver, or cause to be delivered, to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each to the effect that such consolidation, merger, combination, sale, lease or other transfer or disposition complies with the requirements of this Indenture, and such Opinion of Counsel shall state that this Indenture
and the Securities constitute legal, valid and binding obligations of any resulting, surviving or transferee Person, as applicable, subject to customary exceptions. 

For purposes of the foregoing, any sale, lease or other transfer or disposition of the assets of one or more of the Company’s
Subsidiaries to a third party that would, if the Company had held such assets directly, have constituted the sale, lease or other transfer or disposition of all or substantially all of the Company’s and its Subsidiaries’ consolidated
assets, taken as a whole, shall be treated as such under this Indenture. 
 Section 6.02. Successor Substituted. Upon
such consolidation, merger, combination or sale, lease or other transfer or disposition, the resulting, surviving or transferee Person (if not the Company) shall succeed to, and may exercise every right and power of, the Company under this
Indenture, and the Company shall be discharged from the its obligations under the Securities and this Indenture except in the case of any such lease.  

ARTICLE 7 
 DEFAULT
AND REMEDIES 
 Section 7.01. Events of Default. Each of the following is an
“Event of Default” with respect to the Securities:  
 (a) default in payment of interest on any
Security when due and payable and the default continues for a period of 30 days; 
 (b) default in the payment of principal of any Security
when due and payable at its stated maturity, upon any required repurchase, upon any Optional Redemption, upon declaration of acceleration or otherwise; 

(c) failure by the Company to comply with its obligation to convert the Securities in accordance with this Indenture upon exercise of a
Holder’s conversion right; 
 (d) failure by the Company to provide timely notice pursuant to Section 3.05(b),
Section 4.01(d), Section 4.01(e) or Section 4.03(b), in each case when due; 
 (e) failure by the Company to comply with its
obligations set forth in Article 6; 
 (f) failure by the Company to perform any other agreement required of it in this Indenture or the
Securities and such failure continues for 60 days after written notice is given in accordance with the immediately succeeding paragraph; 

(g) default by the Company or any of its Subsidiaries with respect to any mortgage, agreement or other instrument under which there may be
outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $7,500,000 (or the 

  
 -54- 

 
foreign currency equivalent thereof) in the aggregate of the Company and/or any such Subsidiary, whether such indebtedness now exists or shall hereafter be created (i) resulting in such
indebtedness becoming or being declared due and payable or (ii) constituting a failure to pay the principal or interest of any such debt when due and payable at its stated maturity, upon required repurchase, upon declaration of acceleration or
otherwise; 
 (h) the Company or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case or proceeding; 

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

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property; or 

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

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

(i) is for relief against the Company or any Significant Subsidiary in an involuntary case or proceeding; 

(ii) appoints a Custodian of the Company or any Significant Subsidiary or for all or substantially all of the property of the
Company or any Significant Subsidiary; or 
 (iii) orders the liquidation of the Company or any Significant Subsidiary; 

and in each case the order or decree remains unstayed and in effect for 60 consecutive days; or 

(i) a final judgment or judgments for the payment of $7,500,000 (or its foreign currency equivalent thereof) or more (excluding any amounts
covered by insurance) in the aggregate is rendered against the Company or any of its Subsidiaries, which judgment is not paid, discharged or stayed within 60 days after (i) the date on which the right to appeal thereof has expired if no such
appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished. 
 A default under Section 7.01(f) is
not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding notify the Company and the Trustee, in writing of the default, and the Company does not
cure the default within 60 days after receipt of such notice. The notice given pursuant to this Section 7.01 must specify the default, demand that it be remedied and state that the notice is a “Notice of Default.” When any default
under this Section 7.01 is cured, it ceases. 
 The Trustee shall not be charged with knowledge of any Event of Default unless written
notice thereof shall have been actually received by a Responsible Officer at the Corporate Trust Office of the Trustee from the Company, the Paying Agent, any Holder or any agent of any Holder. 

  
 -55- 

 Section 7.02. Acceleration. If an Event of Default (other than an Event of
Default specified in Section 7.01(h) with respect to the Company or any of its Significant Subsidiaries) occurs and is continuing, the Trustee may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the
Securities then outstanding may, by written notice to the Company and the Trustee, declare all unpaid principal and accrued and unpaid interest, if any, to the date of acceleration on the Securities then outstanding (if not then due and payable) to
be due and payable upon any such declaration, and the same shall become and be immediately due and payable. If an Event of Default specified in Section 7.01(h) with respect to the Company or any of its Significant Subsidiaries occurs, all
unpaid principal and accrued and unpaid interest, if any, of the Securities then outstanding shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. After any
acceleration, but before a judgment or decree for the payment of moneys due shall have been obtained or entered, the Holders of a majority in aggregate principal amount of the outstanding Securities may rescind and annul such acceleration with
respect to the Securities and its consequences by written notice to the Company and the Trustee if (a) the recission would not conflict with any judgment or decree of a court of competent jurisdiction, and (b) any and all Events of Default
under this Indenture with respect to the Securities, other than the nonpayment of the principal of and interest on the Securities that shall not have become due by their terms, shall have been remedied or waived pursuant to Section 7.05. No
such rescission shall affect any subsequent Default or impair any right consequent thereto.  
 Section 7.03. Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated to, pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of or interest on the Securities or
to enforce the performance of any provision of the Securities or this Indenture.  
 The Trustee may maintain a proceeding even if it
does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder 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. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 

Section 7.04. Additional Interest. (a) Notwithstanding anything in this Indenture or in the Securities to the contrary, to
the extent the Company elects, the sole remedy for an Event of Default during the first 180 days after the occurrence of an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 5.02(a)
shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Securities at a rate equal to 0.25% per annum of the principal amount of the Securities outstanding for each day
during which such Event of Default is continuing during the 60-day period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on
which such Event of Default is cured or validly waived and (ii) the 60th day immediately following, and including, the date on which such Event of Default first occurred. The Additional
Interest that is payable as a result of the Company’s election pursuant to this Section 7.04 shall be in addition to any Additional Interest payable in accordance with Section 5.02(d) or Section 5.02(e). 

  
 -56- 

 (b) If the Company so elects, such Additional Interest shall be payable in the same manner and on
the same dates as the stated interest payable on the Securities. On the 61st day after such Event of Default (if such Event of Default is not cured or waived prior to such 61st day), such Additional Interest will cease to accrue and the Securities
will be subject to acceleration as provided in Section 7.02. This Section 7.04 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. If the Company does not elect to pay Additional Interest
following an Event of Default in accordance with this Section 7.04, or if it so elects but fails to pay the Additional Interest when due, the Securities shall be immediately subject to acceleration as provided in Section 7.02. To elect to
pay Additional Interest as the sole remedy during the first 60 days after the occurrence of an Event of Default relating to the failure to comply with the reporting obligations in accordance with subsection (a) of this Section 7.04 and
this subsection (b), the Company must notify all Holders, the Trustee and the Paying Agent (if other than the Trustee) of such election no later than five Business Days after the beginning of such 60-day period. Upon the Company’s failure to
timely give such notice or if the Company gives such notice but does not pay the Additional Interest when due, the Securities shall be immediately subject to acceleration as provided in Section 7.02. In no event shall Additional Interest
payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in subsection (a) of this Section 7.04, regardless of the number of events or circumstances giving rise to requirements to pay
such Additional Interest pursuant to this subsection (b) of this Section 7.04. 
 Section 7.05. Waiver of Defaults
and Events of Default. Subject to Section 7.08 and Section 10.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and
its consequences, except with respect to (a) nonpayment of the principal of and accrued and unpaid interest, if any, on any Security, (b) a failure by the Company to pay the cash due upon conversion in accordance with the provisions of the
Securities and this Indenture, (c) any default or Event of Default in respect of any provision of this Indenture or the Securities that, under Section 10.02, cannot be modified or amended without the consent of each affected Holder, or
(d) a failure by the Company to make any repurchase of Securities when required by this Indenture. When a default or Event of Default is waived, it is cured and ceases.  

Section 7.06. Control by Majority. Subject to the Trustee’s right to request a reasonable indemnity from the relevant
Holders as described in Section 7.07 and Section 8.01(d), the Holders of a majority in aggregate principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to
the Trustee or of exercising any trust or power conferred on the Trustee with respect to the Securities. The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines is unduly
prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability.  

Section 7.07. Limitations on Suits. Subject to Section 8.01, if an Event of Default occurs and is continuing, the
Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders  

  
 -57- 

 
have offered to the trustee reasonable indemnity against all losses and expenses. Except to enforce the right to receive payment of principal or interest when due, or the right to receive payment
or delivery of the consideration due upon conversion, no Holder may pursue any remedy with respect to this Indenture or the Securities unless: 

(a) such Holder has previously given the Trustee notice that an Event of Default with respect to the Securities is continuing; 

(b) Holders of at least 25% in aggregate principal amount of the outstanding Securities have made a written request to the Trustee to pursue
the remedy; 
 (c) such Holders have offered the Trustee indemnity reasonably satisfactory to it against all loss, liability and expenses;

 (d) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of such security or
indemnity; and 
 (e) the Holders of a majority in aggregate principal amount of the outstanding Securities have not given the Trustee a
direction that in the opinion of the Trustee is inconsistent with such request within such 60-day period. 
 A Holder may not use this
Indenture to prejudice the rights of another Holder or to obtain a preference or priority over such other Holder. 
 Section 7.08.
Rights of Holders to Receive Payment and to Convert. Each Holder shall have the contractual right to receive payment of (a) the principal (including the Fundamental Change Repurchase Price and the Redemption Price, if applicable) of,
(b) accrued and unpaid interest, if any, on, and (c) the consideration due upon conversion of, its Securities, on or after the respective due dates expressed or provided for in this Indenture, or to institute suit for the enforcement of
any such payment or delivery, as the case may be, and such right to receive such payment or delivery, as the case may be, on or after such respective dates shall not be amended without the consent of such Holder. 

Section 7.09. Collection Suit By Trustee. If an Event of Default in the payment of principal or interest specified in
Section 7.01(a) or Section 7.01(b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company or another obligor on the Securities for the whole amount of principal and
accrued interest remaining unpaid, together with, to the extent that payment of such interest is lawful, interest on overdue principal and on overdue installments of interest, in each case at the rate per annum borne by the Securities 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 7.10. Trustee May File Proofs of Claim. The Trustee may 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 allowed in any judicial
proceedings relative to the Company (or any other obligor on the Securities), its  

  
 -58- 

 
creditors or its property and shall be entitled and empowered to collect and receive any money or other property payable or deliverable on any such claims and to distribute the same, 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 8.06, and to the extent that such payment of the reasonable
compensation, expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other
property which the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to, or, on behalf of any Holder, to authorize, accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of
the claim of any Holder in any such proceeding. 
 Section 7.11. Application of Monies Collected by Trustee. Any monies
collected by the Trustee pursuant to this Article 7 with respect to the Securities shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the Securities, and
stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid: 
 First, to the payment of
all amounts due the Trustee under Section 8.06; 
 Second, in case the principal of the outstanding Securities shall not have
become due and be unpaid, to the payment of interest on, and the cash due upon any conversion of, the Securities in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case may be, with interest
(to the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate borne by the Securities at such time, such payments to be made ratably to the Persons entitled thereto; 

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

  
 -59- 

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

Section 7.12. 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 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 and expenses, 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 7.12 does not
apply to a suit made by the Trustee, a suit by a Holder pursuant to Section 7.07, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding.  

ARTICLE 8 
 TRUSTEE

 Section 8.01. Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs. 

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

(i) the duties of the Trustee shall 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 

(ii) 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 Indenture. The Trustee, however, shall examine any certificates and opinions which by any provision
hereof are specifically required to be delivered to the Trustee to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein). 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act, or its own
willful misconduct, except that: 
 (i) this paragraph does not limit the effect of subsection (b) of this
Section 8.01; 
 (ii) the Trustee shall 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 

  
 -60- 

 (iii) the Trustee shall not be liable with respect to any action it takes or
omits to take in good faith in accordance with a direction received by it pursuant to Section 7.06. 
 (d) No provision of this
Indenture shall require the Trustee to expend or risk its own funds or incur any liability unless the Company or Holders shall have offered to the Trustee security and indemnity reasonably satisfactory to it against such cost or liability. The
Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder shall have offered to the Trustee security and indemnity reasonably satisfactory to it against any
loss, liability or expense. 
 (e) Every provision of this Indenture that in any way relates to the Trustee is subject to subsections (a),
(b), (c) and (d) of this Section 8.01. 
 (f) The Trustee shall 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 8.02. Rights of Trustee. Subject to Section 8.01: 

(a) The Trustee may rely conclusively on any resolution, certificate, opinion or document (whether in its original or facsimile form) 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 and an Opinion of Counsel, which shall
conform to Section 13.02. The Trustee shall 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. 

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

 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
its rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with counsel of its selection, and the advice or
opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any such action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion
of such counsel. 
 (f) The Trustee shall 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 pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities that might be
incurred by it in compliance with such request or direction. 

  
 -61- 

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

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer has actual knowledge thereof
or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office, and such notice references the Securities and this Indenture. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (k) In no event shall the Trustee be responsible or liable for special,
indirect or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(l) The Trustee shall have no duty to monitor or investigate the Issuer’s compliance with or the breach of any representation, warranty or
covenant made in this Indenture. 
 (m) Delivery of reports, information and documents to the Trustee under Section 5.02 or 5.03 is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of
its covenants hereunder (as to which Trustee is entitled to rely conclusively on an Officers’ Certificate). The Trustee is under no duty to examine such reports, information or other documents to ensure compliance with the provision of this
Indenture or to ascertain the correctness or otherwise of the information or the statements contained therein. 
 (n) In no event shall the
Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

  
 -62- 

 (o) In no event shall the Trustee be required to provide any bond or surety in the performance of
its duties or powers. 
 (p) Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by
the Securities. 
 Section 8.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may
become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to
Section 8.09.  
 Section 8.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes
no representation as to the validity, priority or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s
direction under any provision of this Indenture, it shall not be responsible for the use or application of any money received by the Paying Agent (if other than the Trustee) and it shall not be responsible for any statement or recital herein or any
statement in the Securities or any other document in connection with the sale of the Securities or pursuant to this Indenture other than its certificate of authentication.  

Section 8.05. Notice of Default or Events of Default. If a Default or an Event of Default occurs and is continuing and if
it is actually known to a Responsible Officer of the Trustee, the Trustee shall mail (or transmit in accordance with the notice procedures of the Depositary) to each Holder notice of the Default or Event of Default within 90 days after it occurs.
However, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding notice is in the interests of Holders, except in the case of a Default or an Event of Default in
(a) payment of the principal of or interest on any Security (including a Default in the payment of the Fundamental Change Repurchase Price) or (b) payment or delivery of the consideration due upon conversion.  

Section 8.06. Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation (as
agreed to from time to time by the Company and the Trustee in writing) for its services (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the
Trustee promptly upon request for all reasonable disbursements, expenses and advances incurred or made by it in addition to the compensation for its services. Such expenses may include the reasonable compensation, disbursements and expenses of the
Trustee’s agents and counsel.  
 The Company shall indemnify each of the Trustee and any predecessor Trustee and their
officers, directors, employees and agents (each an “Indemnified Party”) against any and all losses, liabilities, damages, claims or expenses (including taxes, other than taxes based upon, measured by or determined by the income of
the Trustee) incurred by an Indemnified Party arising out of or in connection with the acceptance or administration of its duties under this  

  
 -63- 

 
Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this Section 8.06) and defending itself against any claim (whether asserted by the
Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee, upon receiving written notice thereof, shall notify the Company promptly of any claim for
which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate
counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its written consent, which consent shall not be unreasonably withheld. 

The Company need not reimburse the Trustee for any expense or indemnify it against any loss or liability determined to have been caused by its
own negligence or willful misconduct. 
 To secure the Company’s payment obligations in this Section 8.06, the Trustee shall have
a senior claim to which the Securities are hereby made subordinate on all money or property held or collected by the Trustee, except such money or property held in trust to pay the principal of, interest on, and amounts due upon conversion of, the
Securities. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in Section 7.01(h) 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. 

The obligations of the Company under this Section 8.06 shall survive the satisfaction and discharge of this Indenture or the earlier
resignation or removal of the Trustee. 
 Section 8.07. Replacement of Trustee. The Trustee may resign by so notifying
the Company in writing. The Holders of a majority in aggregate principal amount of the Securities then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing and may, with the Company’s written consent,
appoint a successor Trustee. The Company may remove the Trustee if:  
 (a) the Trustee fails to comply with Section 8.09; 

(b) the Trustee is adjudged a bankrupt or an insolvent or relief is entered with respect to the Trustee under any Bankruptcy Law; 

(c) a receiver or other public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. The resignation or removal of a Trustee shall not be effective until a successor Trustee shall have delivered the written acceptance of its appointment as described below. 

  
 -64- 

 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or
is removed, the retiring Trustee, the Company or the Holders of 10% in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company.

 If the Trustee fails to comply with Section 8.09, any Holder who has been a Holder for at least six months may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall
deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (provided that all sums owing
to the Trustee hereunder have been paid) and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder.  

A retiring Trustee shall not be liable for the acts or omissions of any successor Trustee after its succession. 

Notwithstanding replacement of the Trustee pursuant to this Section 8.07, the Company’s obligations under Section 8.06 shall
continue for the benefit of the retiring Trustee. 
 Section 8.08. Successor Trustee by Merger, Etc. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust assets (including the administration of this Indenture) to, another corporation, by sale or otherwise, the resulting, surviving or transferee
corporation, without any further act, shall be the successor Trustee, provided such transferee corporation shall qualify and be eligible under Section 8.09. Such successor Trustee shall promptly mail notice of its succession to the
Company and each Holder.  
 Section 8.09. Eligibility; Disqualification. There shall at all times be a Trustee
hereunder which shall be a Person that is eligible pursuant to the TIA to act as such and shall have a combined capital and surplus of at least $50,000,000. If at any time the Trustee shall cease to satisfy any such requirements, it shall resign
immediately in the manner and with the effect specified in this Article 8.  
 ARTICLE 9 

SATISFACTION AND DISCHARGE OF INDENTURE 

Section 9.01. Satisfaction And Discharge Of Indenture. This Indenture shall upon request of the Company contained in an
Officers’ Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when (a) (i) all Securities theretofore
authenticated and delivered (other than Securities that have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.08) have been delivered to the Trustee for cancellation; 

  
 -65- 

 
or (ii) the Company has deposited with the Trustee (or, with respect to Common Stock, given irrevocable instructions to the Company’s transfer agent for such Common Stock to provide for
such Common Stock) after the Securities have become due and payable, whether at the Maturity Date, any Fundamental Change Repurchase Date, at any Redemption Date, upon conversion (after the applicable settlement consideration has been determined) or
otherwise, cash or cash and/or shares of Common Stock, solely to satisfy outstanding conversions, as applicable, sufficient to pay all of the outstanding Securities and all other sums due and payable under this Indenture by the Company; and
(b) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied
with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under
Section 8.06 shall survive and, if money shall have been deposited with the Trustee pursuant to paragraph (a)(ii) of this Section 9.01, the provisions of Section 9.02 and Section 9.04 shall survive until the Securities have been
paid in full. 
 Section 9.02. Application of Trust Money. Subject to the provisions of Section 9.03, the Trustee or
the Paying Agent shall hold in trust, for the benefit of the Holders, all money deposited with it pursuant to Section 9.01 and shall apply the deposited money in accordance with this Indenture and the Securities to the payment of the principal
of, and interest on, and the amount of cash due upon conversion of, the Securities; provided that such money need not be segregated from other funds except to the extent required by law.  

Section 9.03. Repayment to Company. The Trustee and the Paying Agent shall promptly pay to the Company upon request any
excess money (i) deposited with them pursuant to Section 9.01 and (ii) held by them at any time.  
 The
Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal, interest or amounts due upon conversion that remains unclaimed for two years after a right to such money has matured;
provided, however, that the Trustee or the Paying Agent, before being required to make any such payment, may at the expense of the Company cause to be mailed to each Holder entitled to such money notice that such money remains
unclaimed and that after a date specified therein, which shall be at least 30 days from the date of such mailing, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Holders entitled to
money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person. In the absence of a written request from the Company to return unclaimed funds to the Company, the Trustee may
from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of the Trustee. Any unclaimed funds
held by the Trustee pursuant to this Section 9.03 shall be held uninvested and without any liability for interest.  

Section 9.04. Reinstatement. If the Trustee or the Paying Agent is unable to apply any money in accordance with
Section 9.02 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, then the Company’s obligations under this
Indenture and the  

  
 -66- 

 
Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 9.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money
in accordance with Section 9.02; provided, however, that if the Company has made any payment of the principal of, interest on, or amounts due upon conversion of, any Securities because of the reinstatement of its obligations, the Company shall
be subrogated to the rights of the Holders of such Securities to receive any such payment from the money held by the Trustee or the Paying Agent. 

ARTICLE 10 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 10.01. Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the
Securities without notice to, or the consent of, any Holder:  
 (a) to cure any ambiguity, omission, defect or inconsistency in this
Indenture or in the Securities in a manner that does not adversely affect any Holder in any material respect as set forth in an Officers’ Certificate; 

(b) to provide for the assumption by a successor corporation of the Company’s obligations under this Indenture or the Securities pursuant
to Article 6; 
 (c) to add guarantees with respect to the Securities; 

(d) to secure the Company’s obligations with respect to the Securities; 

(e) to add to the covenants of the Company or Events of Default for the benefit of the Holders or make changes that would provide additional
rights to the Holders or surrender any right or power conferred upon the Company; 
 (f) to make any change that does not adversely affect
the rights of any Holder; 
 (g) in connection with any Transaction described under Section 4.06, to provide that the Securities are
convertible into Reference Property, subject to the provisions of Section 4.02, and make such related changes to the terms of the Securities to the extent expressly required by Section 4.06; 

(h) to evidence and provide for the acceptance of an appointment under this Indenture of a successor Trustee; provided that the successor
Trustee is otherwise qualified and eligible to act as such under the terms of this Indenture as set forth in an Officers’ Certificate; 

(i) to conform the provisions of this Indenture to the “Description of Notes” section in the Offering Memorandum; or 

(j) to provide for the issuance of Additional Securities in accordance with this Indenture. 

  
 -67- 

 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 10.05 and Section 13.02, the Trustee shall join with the Company 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 shall 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 10.02.
With Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding
(including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Securities). The Holders of at least a majority in aggregate principal amount of the Securities then outstanding (including,
without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Securities) may waive compliance in a particular instance by the Company with any provision of this Indenture or the Securities without notice
to any Holder. However, notwithstanding the foregoing but subject to Section 10.03, without the written consent of each Holder of an outstanding Security affected, an amendment, supplement or waiver, including a waiver pursuant to
Section 7.05, may not:  
 (a) reduce the amount of Securities whose Holders must consent to an amendment; 

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

(c) reduce the principal of or extend the stated maturity of any Security; 

(d) reduce the amount of principal payable upon acceleration of the maturity of the Securities; 

(e) impair or adversely affect the right of Holders to convert Securities or otherwise modify the provisions with respect to conversion, or
reduce the Conversion Rate (subject to such modifications as are required under this Indenture); 
 (f) reduce the Fundamental Change
Repurchase Price or Redemption Price of any Security, or amend or modify in any manner adverse to the Holders the Company’s obligation or right, as applicable, to make such payments, whether through an amendment or waiver of provisions in the
covenants, definitions or otherwise; 
 (g) make any Security payable in money, or at a place of payment, other than that stated in the
Security; 
 (h) change the ranking of the Securities; 

(i) amend the contractual right expressly set forth in this Indenture or the Securities of any Holder to institute suit for the enforcement of
any payment of principal (including the Fundamental Change Repurchase Price or Redemption Price, if applicable) of, accrued and unpaid interest, if any, on, or the consideration due upon conversion of its Securities, on or after the respective due
dates expressed or provided for herein; or 

  
 -68- 

 (j) modify provisions of this Section 10.02 or Section 7.05 in any manner. 

It shall not be necessary for the consent of the Holders under this Section 10.02 to approve the particular form of any proposed
amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 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 as
aforesaid, and upon receipt by the Trustee of the documents described in Section 10.05 and Section 13.02, the Trustee shall join with the Company 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 shall not be obligated to, enter into such amended or supplemental
indenture. 
 After an amendment, supplement or waiver under this Section 10.02 becomes effective, the Company shall mail to the
Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver. 
 Section 10.03. Revocation and Effect of Consents. Until an amendment, supplement or waiver
becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the
consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or
waiver becomes effective.  
 After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it makes
a change described in any of clauses (a) through (j) of Section 10.02. In that case the amendment, supplement or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion
of a Security that evidences the same debt as the consenting Holder’s Security. 
 Section 10.04. Notation on or
Exchange of Securities. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Security thereafter authenticated. The Company in exchange for all Securities may issue and the Trustee shall, upon receipt of
a Company Order, authenticate new Securities that reflect the amendment, supplement or waiver. Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or waiver. 

  
 -69- 

 Section 10.05. Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment
or supplemental indenture authorized pursuant to this Article 10 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion,
but need not sign it. In signing or refusing to sign such amendment or supplemental indenture, the Trustee shall be provided with and, subject to Section 8.01, shall be fully protected in relying upon in addition to the documents required by
Section 13.02, an Officers’ Certificate and an Opinion of Counsel stating that such amendment or supplemental indenture is authorized or permitted by this Indenture and is legal, valid, binding and enforceable against the Company in
accordance with its terms. The Company may not sign an amendment or supplement indenture until the Board of Directors approves it. 

Section 10.06. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article 10,
this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be
bound thereby.  
 ARTICLE 11 

CONCERNING THE HOLDERS 

Section 11.01. Action by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage of
the aggregate principal amount of the Securities may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action,
the Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record
of the Holders voting in favor thereof at any meeting of Holders duly called and held in accordance with the provisions of Article 12, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders.
Whenever the Company or the Trustee solicits the taking of any action by the Holders, the Company or the Trustee may, but shall not be required to, fix in advance of such solicitation a date as the record date for determining Holders entitled to
take such action. The record date if one is selected shall be not more than fifteen days prior to the date of commencement of solicitation of such action. 

Section 11.02. Proof of Execution by Holders. Subject to the provisions of Section 8.01, Section 8.02 and
Section 12.05, proof of the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee. The holding of Securities shall be proved by the register of the Registrar or by a certificate of the Registrar. The record of any Holders’ meeting shall be proved in the manner provided in Section 12.06.

 Section 11.03. Who Are Deemed Absolute Owners. The Company, the Trustee, any authenticating agent, the Paying Agent, the
Conversion Agent and the Registrar shall deem the Person in whose name a Security shall be registered upon the register of the Registrar to be, and shall treat it as, the absolute owner of such Security (whether or not such Security shall be overdue
and notwithstanding any notation of ownership or other writing thereon made by any 

  
 -70- 

 
Person other than the Company or the Registrar) for the purpose of receiving payment of or on account of the principal of and accrued and unpaid interest on such Security, for conversion or
redemption of such Security and for all other purposes under this Indenture; and neither the Company nor the Trustee nor the Paying Agent nor the Conversion Agent nor the Registrar shall be affected by any notice to the contrary. All such payments
so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums so paid, effectual to satisfy and discharge the liability for monies payable upon any such Security. Notwithstanding anything to the contrary
in this Indenture or the Securities following an Event of Default, any Holder of a beneficial interest in a Global Security may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the
Depositary or any other Person, such Holder’s right to exchange such beneficial interest for a Security in certificated form in accordance with the provisions of this Indenture. 

Section 11.04. Revocation of Consents; Future Holders Bound. At any time prior to (but not after) the evidencing to the
Trustee, as provided in Section 11.01, of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Securities specified in this Indenture in connection with such action, any Holder of a Security that is
shown by the evidence to be included in the Securities the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 11.02,
revoke such action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of any
Securities issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Security or any Security issued in exchange or substitution therefor or upon
registration of transfer thereof. 
 ARTICLE 12 

HOLDERS’ MEETINGS 

Section 12.01. Purpose of Meetings. A meeting of Holders may be called at any time and from time to time pursuant to the
provisions of this Article 12 for any of the following purposes: 
 (a) to give any notice to the Company or to the Trustee or to give
any directions to the Trustee permitted under this Indenture, or to consent to the waiving of any Default or Event of Default hereunder (in each case, as permitted under this Indenture) and its consequences, or to take any other action authorized to
be taken by Holders pursuant to any of the provisions of Article 7; 
 (b) to remove the Trustee and nominate a successor trustee pursuant to
the provisions of Article 8; 
 (c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions
of Section 10.02; or 

  
 -71- 

 (d) to take any other action authorized to be taken by or on behalf of the Holders of any
specified aggregate principal amount of the Securities under any other provision of this Indenture or under applicable law. 

Section 12.02. Call of Meetings by Trustee. The Trustee may at any time call a meeting of Holders to take any action
specified in Section 12.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the Holders, setting forth the time and the place of such meeting and in general terms the action proposed to be
taken at such meeting and the establishment of any record date pursuant to Section 11.01, shall be sent to Holders of such Securities at their addresses as they shall appear on the register of the Registrar. Such notice shall also be sent to
the Company. Such notices shall be sent not less than twenty nor more than ninety days prior to the date fixed for the meeting. 

Any meeting of Holders shall be valid without notice if the Holders of all Securities then outstanding are present in person or by proxy or if
notice is waived in writing before or after the meeting by the Holders of all Securities then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or have, before or after the meeting, waived notice.

 Section 12.03. Call of Meetings by Company or Holders. In case at any time the Company, pursuant to a resolution of
its Board of Directors, or the Holders of at least 10% of the aggregate principal amount of the Securities then outstanding, shall have requested the Trustee to call a meeting of Holders, by written request setting forth in reasonable detail the
action proposed to be taken at the meeting, and the Trustee shall not have sent the notice of such meeting within 20 days after receipt of such request, then the Company or such Holders may determine the time and the place for such meeting and may
call such meeting to take any action authorized in Section 12.01, by sending notice thereof as provided in Section 12.02. 

Section 12.04. Qualifications for Voting. To be entitled to vote at any meeting of Holders a Person shall (a) be a
Holder of one or more Securities on the record date pertaining to such meeting or (b) be a Person appointed by an instrument in writing as proxy by a Holder of one or more Securities on the record date pertaining to such meeting. The only
Persons who shall be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel. 
 Section 12.05. Regulations. Notwithstanding any other provisions of this Indenture, the
Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes,
the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. 

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the
Company or by Holders as provided in Section 12.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the
meeting shall be elected by vote of the Holders of a majority in aggregate principal amount of the Securities represented at the meeting and entitled to vote at the meeting. 

  
 -72- 

 Subject to the provisions of Section 2.10, at any meeting of Holders each Holder or
proxyholder shall be entitled to one vote for each $1,000 principal amount of Securities held or represented by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged
as not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Securities held by it or instruments in writing as aforesaid duly designating it as
the proxy to vote on behalf of other Holders. Any meeting of Holders duly called pursuant to the provisions of Section 12.02 or Section 12.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount
of Securities represented at the meeting, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice. 

Section 12.06. Voting. The vote upon any resolution submitted to any meeting of Holders shall be by written ballot on which shall
be subscribed the signatures of the Holders or of their representatives by proxy and the outstanding aggregate principal amount of the Securities held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of
votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of
the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was sent as provided in Section 12.02. The record shall show the aggregate principal amount of the Securities voting in favor
of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved
by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 
 Any record so signed and verified shall be
conclusive evidence of the matters therein stated. 
 Section 12.07. No Delay of Rights by Meeting. Nothing contained in
this Article 12 shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or
rights conferred upon or reserved to the Trustee or to the Holders under any of the provisions of this Indenture or of the Securities. 

  
 -73- 

 ARTICLE 13 

MISCELLANEOUS 

Section 13.01. Notices. Any notice or communication to the Company or the Trustee under this Indenture shall be given in writing
and delivered in Person or by first-class mail (registered or certified, return receipt requested), facsimile transmission (confirmed by delivery in Person or by first-class mail (registered or certified, return receipt requested)) or guaranteed
overnight courier, as follows: 
 If to the Company, to: 

Team, Inc. 
 13131 Dairy
Ashford, Suite 600 
 Sugar Land, Texas 77478 

Facsimile: (281) 388-5664 

Attention: André C. Bouchard, Executive Vice President, Administration, Chief 

Legal Officer & Secretary 

If to the Trustee, to: 
 BB&T
Corporate Trust Services 
 223 West Nash Street 

Mail Code 100-01-02-25 
 Wilson,
NC 27893 
 Telephone: (252) 246-4974 

Facsimile: (252) 246-4303 

All notices and communications (other than those sent to Holders) shall 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, if mailed by first-class mail (registered or certified, return receipt requested); upon acknowledgment of receipt, if transmitted by facsimile; and the next Business Day
after timely delivery to the courier, if sent by guaranteed overnight courier. 
 The Company or the Trustee by notice to the other may
designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication mailed to a Holder
shall be mailed by first-class mail or delivered by guaranteed overnight courier or by other electronic means to it at its address shown on the register kept by the Registrar. 

Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a
notice or communication to a Holder is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 

The Trustee agrees to accept and act upon instructions or directions from the Company pursuant to this Indenture sent by unsecured e-mail,
facsimile transmission or other similar unsecured electronic methods (including pdf files) but only if the Company responds to the Trustee’s request for verification of the instructions or directions. If the Company elects to give the Trustee
e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of 

  
 -74- 

 
such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and
compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Company upon providing electronic instructions agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Trustee, including without limitation the risk that the Trustee does not receive the transmission, the risk that the Company does not verify the instructions, the risk of the Trustee
acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 Section 13.02. Certificate
and Opinion as to Conditions Precedent. 
 (a) 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 at the request of the Trustee: 
 (i) an Officers’ Certificate
in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent (including any covenants, compliance with which constitutes a condition precedent), if any, provided for in this
Indenture relating to the proposed action have been complied with; and 
 (ii) an Opinion of Counsel in form and substance
reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent (including any covenants, compliance with which constitutes a condition precedent) have been complied with. 

(b) Each Officers’ Certificate and Opinion of Counsel with respect to compliance with a condition or covenant provided for in this
Indenture shall include: 
 (i) a statement that the Person making such certificate or opinion has read such covenant or
condition; 
 (ii) 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; 
 (iii) 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 complied with; and 

(iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with; 

provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of
public officials.  
 Section 13.03. Business Days. If an Interest Payment Date, Maturity Date, Fundamental Change
Repurchase Date or other payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue for the intervening period. If a Regular Record Date is a Business Day, the record
date shall not be affected. 

  
 -75- 

 Section 13.04. Governing Law. THIS INDENTURE, THE SECURITIES AND ANY CLAIM,
CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  

Section 13.05. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.  

Section 13.06. No Personal Liability of Directors, Officers, Employees or Stockholders. No past, present or future
director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Securities, this Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities.  

Section 13.07. Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All
agreements of the Trustee in this Indenture shall bind its successor.  
 Section 13.08. Multiple Counterparts.
The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent the same agreement.  

Section 13.09. Separability. In case any provisions in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.  

Section 13.10. Table of Contents, Headings, Etc. The table of contents, cross-reference sheet and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.  

Section 13.11. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF, OR RELATING TO, THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.  

Section 13.12. Calculations. Except as otherwise provided herein, the Company shall be responsible for making all
calculations called for under the Securities or this Indenture. These calculations include, but are not limited to, determinations of the Stock Price, Trading Price, Last Reported Sale Prices of the Common Stock, the Daily VWAPs, the Daily
Conversion Values, the Daily Settlement Amounts, accrued interest payable on the Securities and the Conversion Rate of  

  
 -76- 

 
the Securities. The Company shall make all these calculations in good faith and, absent manifest error, the Company’s calculations shall be final and binding on Holders of Securities. The
Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without
independent verification. The Trustee shall not be liable for but will forward the Company’s calculations to any Holder of Securities upon the request of that Holder at the sole cost and expense of the Company. 

[SIGNATURE PAGE FOLLOWS] 

  
 -77- 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the date and year
first above written. 
  

			
	TEAM, INC.
		
	By:	 	 /s/ Greg L. Boane

		 	Name:  Greg L. Boane
		 	 Title:    Executive Vice President, Chief

             Financial Officer and Treasurer

	
	BRANCH BANKING AND TRUST COMPANY, AS TRUSTEE
		
	By:	 	 /s/ Pamela B. McGee

		 	Name: Pamela B. McGee
		 	Title: Vice President

  
 -78- 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN
DEFINITIVE FORM, THIS SECURITY 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.]1 

[INCLUDE FOLLOWING LEGEND IF A RESTRICTED SECURITY] 

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

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

  

	1 	 This bracketed text should be included only if the Security is a Global Security.

  
 A-1 

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

  

	 	•	 	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  

	 	•	 	PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OF THE COMPANY THAT COVERS THE RESALE OF THIS SECURITY OR SUCH COMMON STOCK; 

  

	 	•	 	TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR 

  

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

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

  
 A-2 

 TEAM, INC. 

5.00% CONVERTIBLE SENIOR NOTES DUE 2023 
  

			
	No. [        ]	  	[Initially]2 $                    
	CUSIP No.: [            ]	  	

 Team, Inc., a Delaware corporation (the “Company”, which term shall include any successor
corporation under the Indenture referred to on the reverse hereof), promises to pay to [Cede & Co.]3 [            ], or
registered assigns, the principal sum [of             DOLLARS ($            )] [or such lesser amount as set forth in the
“Schedule of Exchanges of Securities” attached hereto]4 on August 1, 2023, and interest thereon as set forth below. 

This Security shall bear interest at the rate of 5.00% per year from July 31, 2017, or from the most recent date to which interest
had been paid or provided for to, but excluding, the next scheduled Interest Payment Date until August 1, 2023. Interest is payable semi-annually in arrears on each February 1 and August 1, commencing on February 1, 2018, to
Holders of record at the close of business on the preceding January 15 and July 15 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth in Section 5.02(d), Section 5.02(e)
and Section 7.04 of the within-mentioned Indenture, and any reference to interest on, or in respect of, any Security therein shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable
pursuant to any of Section 5.02(d), Section 5.02(e) or Section 7.04 and any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those provisions
thereof where such express mention is not made. Interest will be computed on the basis of a 360-day year of twelve 30-day months or, in the case of a partial month, the number of days elapsed over a 30-day month. 

Any Defaulted Amounts shall accrue interest per annum at the rate borne by the Securities, subject to the enforceability thereof under
applicable law, from, and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election, in accordance with Section 2.03(e) of the Indenture. 

The Company shall pay the principal of and interest on this Security so long as such Security is a Global Security, in immediately available
funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Security. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Securities (other than Securities that
are Global Securities) at the office or agency designated by the Company for that purpose. The Company has initially designated the Trustee as Paying Agent, Registrar, Securities Custodian and Conversion Agent and each of the Corporate Trust Office
of the Trustee and the office or agency of the Trustee in the Borough of Manhattan, The City of New York, as the office or agency of the Company for each of the aforesaid purposes. 

 
  

	2 	This bracketed text should be included only if the Security is a Global Security. 

	3 	This bracketed text should be included only if the Security is a Global Security. 

	4 	This bracketed text should be included only if the Security is a Global Security. 

  
 A-3 

 Reference is made to the further provisions of this Security set forth on the reverse hereof,
including, without limitation, provisions giving the Holder of this Security the right to convert this Security into cash or a combination of cash and shares of Common Stock, as applicable, on the terms and subject to the limitations set forth in
the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Security
shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or a duly authorized authenticating agent under the Indenture. 

[SIGNATURE PAGE FOLLOWS] 

  
 A-4 

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

 

			
	TEAM, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 Attest: 
  

			
	By:	 	  

		 	Name:
		 	Title:
		
		 	Dated: [            ], 20[    ]

  

			
	 TRUSTEE’S CERTIFICATE OF         AUTHENTICATION

 
 This is one of the Securities referred to in the within-mentioned
Indenture.

	
	BRANCH BANKING AND TRUST COMPANY, AS TRUSTEE
		
	By:	 	  

		 	Authorized Signatory

  
 A-5 

 [FORM OF REVERSE OF SECURITY] 

TEAM, INC. 
 5.00%
CONVERTIBLE SENIOR NOTES DUE 2023 
 This Security is one of a duly authorized issuance of Securities of the Company, designated
as its 5.00% Convertible Senior Notes due 2023 (the “Securities”), limited in aggregate principal amount of up to $230,000,000, all issued or to be issued under and pursuant to an Indenture dated as of July 31, 2017 (the
“Indenture”), between the Company and Branch Banking and Trust Company, as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the
rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities. Additional Securities may be issued in an unlimited aggregate principal amount, subject to certain conditions
specified in the Indenture. 
 In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the
principal of all Securities may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Securities then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and
subject to the conditions and certain exceptions set forth in the Indenture. In case an Event of Default occurs as a result of certain events of bankruptcy, insolvency or reorganization of the Company, the principal and accrued and unpaid interest,
if any, of all Securities then outstanding shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder, 

Subject to the terms and conditions of the Indenture, the Company will make all payments in respect of the Fundamental Change Repurchase
Price, the Redemption Price and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Security to the Paying Agent to collect such payments in respect of the Security. The Company will pay cash amounts in
money of the United States that at the time of payment is legal tender for payment of public and private debts. 
 The Indenture contains
provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the
Securities at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the Indenture and the Securities as described therein. It is also provided in the Indenture that, subject to
certain exceptions, the Holders of a majority in aggregate principal amount of the Securities at the time outstanding may on behalf of the Holders of all of the Securities waive any past Default or Event of Default under the Indenture and its
consequences. 
 The Securities are issuable in registered form without coupons in denominations of $1,000 principal amount and multiples
thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Securities may be exchanged for a like aggregate principal amount of Securities of other
authorized denominations, without payment of any service charge but, if required by the 

  
 A-6 

 
Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder of the new Securities
issued upon such exchange of Securities being different from the name of the Holder of the old Securities surrendered for such exchange. 

The Securities shall be redeemable at the Company’s option on or after August 5, 2021 in accordance with the terms and subject to
the conditions specified in the Indenture. No sinking fund is provided for the Securities. 
 Upon the occurrence of a Fundamental Change,
the Holder has the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Securities or any portion thereof (in principal amounts of $1,000 or multiples thereof) on the Fundamental Change
Repurchase Date at a price equal to the Fundamental Change Repurchase Price. 
 Subject to the provisions of the Indenture, the Holder
hereof has the right, at its option, prior to May 1, 2023, only upon the occurrence of certain conditions specified in the Indenture, and on or after May 1, 2023, until the close of business on the second Scheduled Trading Day immediately
preceding the Maturity Date regardless of the occurrence of such conditions, to convert any of its Securities or portion thereof that is $1,000 or a multiple thereof as provided in the Indenture (which may be settled, at the Company’s election,
subject to certain limitations, as provided in the Indenture, in cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable) based on the Conversion Rate specified in the Indenture, as adjusted from time to time
as provided in the Indenture. 
 All terms used in this Security but not specifically defined herein are defined in the Indenture and are
used herein as so defined. 
 In the case of any conflict between the provisions of this Security and the Indenture, the provisions of the
Indenture shall control. 
 This Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of
authentication on this Security. 
 THE INDENTURE AND THIS SECURITY, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THE
INDENTURE OR THIS SECURITY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 The Company will
furnish to any Holder, upon written request and without charge, a copy of the Indenture. Requests may be made to: Team, Inc., 13131 Dairy Ashford, Suite 600, Sugar Land, Texas 77478. 

  
 A-7 

 ABBREVIATIONS AND DEFINITIONS 

Customary abbreviations may be used in the name of the 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) 
 UGMA (=
Uniform Gifts to Minors Act). 
 Additional abbreviations may also be used though not in the above list. 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 

I or we assign and transfer this Security to: 
  

	
	 
	(Insert assignee’s social security or tax I.D. number)
	
	 
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)
	
	and irrevocably appoint
	 
	agent to transfer this Security on the books of the Company. The agent may substitute another to act for him or her.

 In connection with any transfer of the within Security occurring prior to the Resale Restriction Termination Date, as defined
in the Indenture governing such Security, the undersigned confirms that such Security is being transferred: 
 ☐ To Team, Inc. or a subsidiary
thereof; or 
 ☐ Pursuant to a registration statement that has become or been declared effective under the Securities Act of 1933, as amended; or 

☐ Pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended; or 

☐ Pursuant to and in compliance with Rule 144 under the Securities Act of 1933, as amended, or any other available exemption from the registration
requirements of the Securities Act of 1933, as amended. 

  
 A-9 

					
	Date:	 		  	Your Signature:
			
	  
	 		  	  

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

  

	*	Signature guaranteed by: 

  

			
	 By:
	 	  

  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion Program (STAMP); (ii) the New
York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  
 A-10 

 CONVERSION NOTICE 

The undersigned registered owner of this Security hereby exercises the option to convert this Security, or the portion hereof (that is $1,000
principal amount or a multiple thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, in accordance with the terms of the Indenture referred to in this Security, and directs
that any cash payable and any shares of Common Stock issuable and deliverable upon such conversion, together with any cash for any fractional share, and any Securities representing any unconverted principal amount hereof, be issued and delivered to
the registered Holder hereof unless a different name has been indicated below. Any amount required to be paid to the undersigned on account of interest accompanies this Security. 

To convert only part of this Security, state the principal amount to be converted (which must be $1,000 or a multiple of $1,000):
$             
  

					
	Date:	 		  	Your Signature:
			
	  
	 		  	  

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

  

	*	Signature guaranteed by: 

  

			
	By:	 	  

  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion Program (STAMP); (ii) the New
York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  
 A-11 

 REPURCHASE EXERCISE NOTICE UPON A FUNDAMENTAL CHANGE 

To: Team, Inc. 
 The
undersigned registered owner of this Security hereby irrevocably acknowledges receipt of a notice from Team, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and requests and instructs
the Company to repurchase the entire principal amount of this Security, or the portion thereof (which is $1,000 or an integral multiple thereof) below designated, in accordance with the terms of the Indenture referred to in this Security at the
Fundamental Change Repurchase Price, to the registered Holder hereof.  
  

					
	Dated:                                     
                                         
                       	  		  	  

		  		  	Signature(s)
			
		  		  	Signature(s) must be guaranteed by a qualified guarantor institution with membership in an approved signature guarantee program pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934.
			
		  		  	  

		  		  	Signature Guaranty

 Certificate number(s) of Security(ies) delivered for repurchase: 

 

							
	  
	  	  
	  	  
	  	  

 Principal amount to be repurchased (in an integral multiple of $1,000, if less than all):
                 
 NOTICE: The signature to the foregoing Election
must correspond to the name as written upon the face of the Security in every particular, without alteration or any change whatsoever. 

  
 A-12 

 SCHEDULE OF EXCHANGES OF SECURITIES5

 The following exchanges, repurchases or conversions of a part of this Global Security have been made: 

 

									
	 Date of Exchange,

Repurchase,
 Redemption or Conversion
	  	 Amount of Decrease

in Principal Amount
 of this
Global
 Security
	  	 Amount of Increase

in Principal Amount
 of this
Global
 Security
	  	 Principal Amount of this
Global Security Following
Such
Decrease or
 Increase
	  	 Signature of Authorized

Signatory of
 Securities
Custodian

	<S>	  	<C>	  	<C>	  	<C>	  	<C>

  

	5 	This schedule should be included only if the Security is a Global Security.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}]]