Document:

Lease agreement, dated November 11, 2005

 EXHIBIT 10.15 
 LEASE 
 Date:                
November 11, 2005 
 Landlord:         700 Stanton Drive, LLC 
 Tenant:             Alliance Laundry Systems LLC 
 1. BASIC TERMS. The following terms shall have the meaning set forth in this section unless specifically modified by other provisions of this
Lease: 
 1.1 Building. The building located at 700 Stanton Drive, Ripon, Wisconsin, together with the land approximately 14 acres of
land and other improvements and facilities appurtenant thereto, more particularly described on the attached Exhibit A. 
 1.2
Premises. Approximately 134,921 square feet of space in the Building as shown on the floor plan attached hereto as Exhibit B. For purposes of this Lease, the parties accept the number of square feet shown above, even if
measurement or confirmation might yield a different number of square feet. 
 1.3 Common Areas. The areas of the Building not
regularly and customarily leased for exclusive use of tenants, including, but not limited to, any entranceways, common hallways and stairs, elevators, loading areas, roofs, all parking areas (whether for the exclusive or non-exclusive use of any
tenant), driveways, walks and landscaped areas. 
 1.4 Term. Approximately seven (7) years and two (2) months commencing on
the Commencement Date and terminating on the Termination Date. There two (2) extension options as set forth in Section 40. 
 1.5
Commencement Date. The earlier of (i) January 1, 2006 or (ii) the date Tenant completes the work described in Exhibit C. 
 1.6 Termination Date. The last day of the Eighty Sixth (86th) month
after the Commencement Date or the last day of the last exercised renewal period if the renewal option[s] are exercised in accordance with this Lease. 
 1.7 Base Rent. Two Hundred Thirty Two Thousand Eight Hundred Fifty Six and No/100 Dollars ($232,856.00) annually, payable in advance monthly installments of Nineteen Thousand Four Hundred Four and 66/100
Dollars ($19,404.66) due on the first calendar day of each month. 
 1.8 Base Rent Commencement Date. March 1, 2006, without
regard to whether Tenant has completed the work described in Exhibit C. 
 1.9 Permitted Use. General office, engineering, receiving,
manufacturing, storing of material and shipping purposes in connection with Tenant’s business. 

 1.10 Landlord’s Address for Notices. 
  

	
	C/o Carter Management
	Attn: Sandy Ward
	330 E. Kilbourn Avenue Suite 838
	Milwaukee, Wisconsin 53202
	Telephone: (414) 224-9102
	Facsimile: (414) 224-1022

 1.11 Outside Storage Area. The area designated on Exhibit E as the area for
Tenant’s exclusive use for outside storage. 
 1.12 Trailer Parking Area. The area designated on Exhibit E for
Tenant’s exclusive use for truck and trailer parking. 
 1.13 Admanco Space. The office space within the building consisting of
approximately 8,724 rentable square feet leased by Admanco – a division of EBSCO Industries, Inc. as of the date of this Lease. 
 1.14
Tenant’s Proportionate Share. When splitting the amount of any costs and/or expense for items described in this Lease, Tenant’s Proportionate Share shall mean 94% of such cost and/or expense. When Tenant has paid a cost and/or
expense that is to be split between Landlord and Tenant, Landlord shall reimburse Tenant for 6% of such cost and/or expense within ten (10) days of a written demand for payment accompanied with a copy of the applicable invoices and proof of
payment. When Landlord has paid a cost and/or expense that is to be split between Landlord and Tenant, Tenant shall reimburse Landlord for 94% of such expense within ten (10) days of a written demand for payment accompanied with a copy of the
applicable invoices and proof of payment. 
 1.15 Tenant’s Address for Notices. 
  

	
	Atten: Jeffrey E. Thoms
	Treasurer and Assistant Secretary
	Alliance Laundry Systems LLC
	Shepard Street, P.O. Box 990
	Ripon, WI 54971
	 Telephone: (920) 748-4403

	 Facsimile: (920) 748-1629

 With a copy to: 
  

	
	Atten: Scott L. Spiller
	Chief Legal Officer
	Alliance Laundry Systems LLC
	Shepard Street, P.O. Box 990
	Ripon, WI 54971
	Telephone: (920) 748-4320
	Facsimile: (920) 748-4334

  

 2 

 1.16 Exhibits. 
  

	
	 A - Legal Description

	 B - Floor Plan of the Premises

	 C - Tenant Improvements

	 D - Landlord Work

	 E - Tenant Parking Areas

	 F – Admanco Parking Area

	 G – Recorded Covenants and Restrictions

 2. DEMISE AND TERM. Landlord leases the Premises to Tenant and Tenant leases from Landlord
the Premises subject to the provisions of this Lease; provided, that any space in the Premises used for shafts, pipes, conduits, ducts, electrical or other utilities or Building facilities that service the Admanco Space after the completion of the
Landlord Work described in Exhibit D, the separate utility metering work described in Section 12.1 of this Lease, and the Tenant Improvement work described in Exhibit C, as well as access thereto through the Premises for the purposes
of installation, operation, maintenance, inspection, repair and replacement, are reserved for Landlord’s non-exclusive use. The Term of this Lease commences on the Commencement Date and ends on the Termination Date unless sooner terminated as
provided herein. Each party will, at the request of the other, execute and deliver an instrument confirming the actual Commencement Date and the Termination Date when determined. As used herein, “Lease Year” means a period of twelve (12)
full and consecutive calendar months. The initial Lease Year begins on the Commencement Date and ends on the last day of the month preceding the first anniversary of the Commencement Date; provided, however, if the Commencement Date does not occur
on the first day of a calendar month, then the initial Lease Year shall begin on the Commencement Date and end on the last day of the month which contains the first anniversary thereof. Each succeeding Lease Year shall begin upon the termination of
the preceding Lease Year. 
 3. RENT. 
 3.1 Commencing on the Commencement Date, Tenant will pay to Landlord at Landlord’s address set forth in Section 1.10 or such other place designated by Landlord, in advance on the first day of each calendar
month without prior demand or notice, the rent for the Premises consisting of the monthly installments of Base Rent set forth in Section 1.7 and any other additional payments due under this Lease. The obligation of Tenant to pay rent is an
independent covenant. Notwithstanding the foregoing, payment of monthly installments of Base Rent shall not commence until the Base Rent Commencement Date. 
 3.2 Except as otherwise provided herein, this Lease is what is commonly called a “net lease,” it being understood that Landlord shall receive the Base Rent set forth in Paragraph 3.1 free and clear of any
and all other impositions, taxes, assessments, liens, charges or expenses of any nature whatsoever in connection with the ownership, maintenance, repair and operation of the Premises. In addition to the Base Rent, Tenant shall pay to Landlord, or to
the other persons or entities respectively entitled, all taxes and impositions, insurance premiums, operating charges, maintenance charges, repairs, and any other charges, costs and expenses which arise or may be contemplated under any provisions of
this Lease during the Term related to the Building, except as expressly required to be paid for by Landlord hereunder. All of such charges, costs and expenses when due, shall constitute additional rent (“Additional Rent”), and upon the
failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay 
  

 3 

 Base Rent. Base Rent, payable under this Lease by Tenant shall be paid without notice or demand and Landlord is required
to send notice or demand for any Additional Rent and all other sums payable under this Lease. Except as otherwise provided herein, Base Rent, Additional Rent and all other sums payable under this Lease by Tenant (collectively “Rent”) shall
be an absolute net return to Landlord for the Term free from any expense, charge, deduction, offset or counterclaim by reason of any obligation of Landlord or any other reason. 
 3.3 It is the intention of the parties to this Lease that the obligations of Tenant under this Lease shall be separate and independent covenants and
agreements, that the Base Rent, the Additional Rent and all other sums payable by Tenant under this Lease shall continue to be payable in all events and that the obligations of Tenant under this Lease shall continue unaffected, unless the
requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. 
 3.4 Tenant acknowledges
that late payment of rent (Base Rent or additional rental) involves additional costs to Landlord for collection and bookkeeping, and, accordingly, if rent (Base Rent or additional rental) due hereunder is not paid by the 10th day after it is due, then Tenant shall pay upon demand, as additional rent, a late charge equal to 5% of the amount required
to be paid. The payment of a late charge shall not be construed to extend the date for payment of any sums required to be paid by Tenant or to relieve Tenant of its obligation to pay all such sums at the time or times herein when due, and neither
the demand for, nor collection by Landlord, of such late charge shall be construed as a waiver of Landlord’s rights under Section 23 of this Lease. 
 4. TAXES. 
 4.1 Taxes “Taxes” shall mean real estate taxes, assessments (general or
special), sewer rents, rates and charges, transit taxes, taxes based upon leases or the receipt of rent, and any other federal, state or local governmental charge, general, special, ordinary or extraordinary (but not including income or franchise
taxes, inheritance, capital stock, or any other taxes imposed upon or measured by Landlord’s income or profits) which may now or subsequently be levied, assessed or imposed against all or any portion of the Building or interest in the Building.
Notwithstanding anything contained in the foregoing definition to the contrary: 
 (a) If at any time the method of taxation then prevailing
shall be altered so that all or any part of any new or additional tax, assessment, levy, imposition or charge shall be imposed upon Landlord in place or partly in place of any Taxes or contemplated increase in such Taxes, or in addition to Taxes,
and shall be measured by or be based in whole or in part upon the Premises, the rents or other income from the Premises or any leases of all or any part of the Premises, then all or any part of such new taxes, assessments, levies, impositions or
charges, shall be included in Taxes levied, assessed or imposed against the Premises. 
 (b) Notwithstanding the year for which any such
taxes or assessments are levied, in the case of special taxes or assessments which may be payable in installments, the amount of each installment, plus any interest, payable during any year shall be considered Taxes assessed and levied for that
year. Landlord represents and warrants that no special taxes or assessments have been levied or, to Landlord’s knowledge, proposed for the Building and that no installments of special taxes or assessments remain outstanding as of the date of
this Lease. Except as provided in this Section 4.1(b), all references to Taxes assessed, levied, confirmed or imposed during a particular year shall be deemed to refer to Taxes levied, assessed or otherwise payable during such year without
regard to when such Taxes are imposed. 
  

 4 

 (c) Taxes shall also include personal property taxes (if any) imposed upon the furniture, fixtures,
machinery, equipment, apparatus, systems or appurtenances owned by Landlord and located on and used in connection with Tenant’s use of the Premises or its operation. 
 4.2 Payment. Tenant shall pay to Landlord Tenant’s Proportionate Share of Taxes which are assessed, levied, confirmed, imposed or which become a lien upon the Building with respect to any period of time
within the Term. Taxes shall be prorated for the first and last year of the Term. Tenant shall pay to Landlord, Tenant’s Proportionate Share of the known or estimated yearly real estate Taxes and assessments with respect to the Building in
monthly payments equal to one-twelfth (1/12) of the known or estimated yearly real estate taxes and assessments next payable with respect to the Premises. From time to time Landlord may reasonably re-estimate the amount of real estate taxes and
assessments, and in such event Landlord shall notify Tenant, in writing, of such re-estimate and fix future monthly installments for the remaining period prior to the next tax and assessment due date in an amount sufficient to pay the re-estimated
amount over the balance of such period after giving credit for payments made by Tenant on the previous estimate. If the total monthly payments made by Tenant pursuant to this paragraph shall exceed the amount of payments necessary for such taxes and
assessments, such excess shall be refunded to Tenant within thirty (30) days of the date Landlord pays such payments under this paragraph. If the total monthly payments made by Tenant pursuant to this paragraph shall be insufficient to pay such
taxes and assessments when due, then Tenant shall pay to Landlord such amount as may be necessary to make up the deficiency within thirty (30) days of the date of Landlord’s demand therefore. If the Premises is ever taxed separate from the
Admanco Space, then Tenant shall only be responsible for the Taxes directly relating to the Premises. 
 4.3 Contest. Landlord shall
direct the appropriate governmental body to send any bill, notice of assessment, or other notices or correspondence relating to Taxes directly to Tenant. Tenant shall have the right at its own expense to contest the amount or validity, in whole or
in part, of any Tax by appropriate proceedings diligently conducted in good faith, however such a contest shall not affect Tenant’s obligation to make estimated payments for Taxes as described in Section 4.2 above. In connection with any
such contest, Tenant shall pay all costs, fees, including attorneys’ fees, interest, penalties, fines and other liabilities relating thereto. Landlord may, but is not obligated to, contest the amount or validity, in whole or in part, of any Tax
by appropriate proceedings and will be responsible for all attorneys fees and other costs incurred by Landlord connected to such action. 
 5. CONDITION OF PREMISES. Tenant leases this Premises in its “As Is” “Where Is” condition. Prior to April 30, 2006, Tenant shall substantially complete the construction of improvements to the Premises pursuant to
Exhibit C attached hereto. All such work shall be done in a good and workmanlike manner in compliance with all building codes, laws, ordinances, and regulations. Except as specifically provided on Exhibit D and elsewhere in this Lease,
Landlord shall not be required to perform any improvements or to rework, remodel or recondition the Premises in any manner whatsoever for Tenant’s use and occupancy thereof. Tenant’s taking possession of the Premises or earlier entry upon
the Premises pursuant to Exhibit C, shall be conclusive evidence that Tenant accepts the Premises and that they are in satisfactory 
  

 5 

 condition. Tenant, at Tenant’s sole cost and expense, except as expressly required under the terms of this Lease,
shall perform all other alterations, improvements and other work necessary to prepare the Premises for Tenant’s use. All work done by Tenant shall be done in accordance with Exhibit C and Section 13 below. 
 Notwithstanding the foregoing, Landlord shall complete the Landlord’s Work and provide Tenant an allowance as set forth on the attached Exhibit
D. 
 6. USE. The Premises shall be used only for the purpose set forth in Section 1.9 above and for no other purposes without
Landlord’s express prior written consent. Tenant shall be solely responsible for securing all necessary and appropriate permits, licenses and approvals from all governmental authorities having jurisdiction for the use of the Premises as set
forth herein. Tenant shall not do or permit anything to be done in or about the Premises which in any way will obstruct or interfere with the rights of any other occupants of the Building, or use or allow the Premises to be used for any unlawful
purpose or otherwise violate any recorded covenant or restriction affecting the Building. 
 7. COMPLIANCE WITH LAWS. Tenant shall, at
its sole cost and expense, promptly comply with all laws, statutes, ordinances and governmental rules, regulations or requirements now or hereafter in force, and with the requirements of the local Board of Fire Underwriters or any similar body now
or hereafter constituted relating to or affecting the condition, use or occupancy of the Premises and with all recorded covenants and restrictions affecting the Premises set forth in the attached Exhibit G. Tenant shall also observe and comply with
the requirements of all policies of insurance at any time in force with respect to the Building, provided that such requirements do not prevent Tenant’s use of the Premises to operate its business as such business is operated within its other
facilities, and Tenant shall not do or permit anything to be done on or about the Building or bring or keep anything therein that is not required as part of its business operation which will in any way increase the cost of any insurance now or
thereafter carried on the Building or any of its contents or that will invalidate any such insurance. 
 8. ENVIRONMENTAL
REQUIREMENTS. 
 8.1 Former Ink Sludge Pit. Landlord, in advance of the Commencement Date, shall clean and remediate the former ink
sludge pit identified as an environmental condition in the Report of Phase I Environmental Site Assessment, dated March 24, 2004, to the satisfaction of the Wisconsin Department of Natural Resources, and shall further close off and seal any
entrances to the former ink pit to avoid any possibility of further infiltration of liquids or other materials into such pit. 
 8.2
Tenant’s Environmental Obligations. Tenant, shall comply with all applicable federal, state and local environmental laws, ordinances and all amendments thereto and rules and regulations implementing the same, together with all common law
requirements, which relate to discharge, emissions, waste, nuisance, pollution control, hazardous substances and other environmental matters as the same shall be in existence during the Lease Term (collectively, “Environmental Laws”).
Tenant shall obtain all environmental licenses, permits, approvals, authorizations, exemptions, certificates and registrations (collectively, “Permits”) and make all applicable filings required of Tenant under the Environmental Laws
required by Tenant to operate at the Premises. Copies of all Permits and required filings shall be delivered to Landlord upon request. Tenant shall not cause or permit any flammable explosive, oil, 
  

 6 

 contaminant, radioactive material, hazardous waste or material, toxic waste or material or any similar substance which is
or may become regulated under any applicable federal, state or local law including, without limitation, any substance regulated under Wis. Stat. § 292.01(5). (collectively, “Hazardous Materials”) to be brought upon, kept or used in or
about the Premises except for quantities of such substances as is necessary in the ordinary course of Tenant’s business provided that Tenant shall handle, store, use and dispose of any such Hazardous Material in compliance with all applicable
laws and the standards prevailing in the industry for the storage and use of such substances or materials, in a manner which is safe and does not contaminate the Premises. 
 8.3 If Landlord’s lender requires testing to ascertain whether or not there has been any release of any Hazardous Material after the Commencement
Date and attributable to Tenant’s operation, then (i) the reasonable costs thereof shall be reimbursed by Tenant to Landlord upon demand as additional rent if such requirement applies to the Premises, provided, however, that if such
testing reveals that there has been no release of any Hazardous Material by Tenant, its agents, employees, guests, or invitees (collectively for purposes of this Section 8, the “Tenant Parties”) after the Commencement Date, Landlord
shall pay for such testing, (ii) such testing shall be done by a company approved by Tenant, which approval shall not be unreasonably withheld or delayed, (iii) Landlord shall require as part of the engagement of the testing company that
all report findings shall be kept confidential by Landlord, Landlord’s lender and by the testing company, except as required by law and only to the extent required by such law, and (iv) Tenant shall be provided with a copy of the report.
If a governmental agency with the requisite authority requires testing to ascertain whether or not there has been any release of any Hazardous Material after the Commencement Date and attributable to Tenant’s operation, then (i) the
reasonable costs thereof shall be reimbursed by Tenant to Landlord upon demand as additional rent if such requirement applies to the Premises, provided, however, that if such testing reveals that there has been no release of any Hazardous Material
by any Tenant Parties after the Commencement Date, Landlord shall pay for such testing, (ii) such testing shall be done by a company selected by Tenant and approved by Landlord, which approval shall not be unreasonably withheld or delayed,
(iii) all report findings shall be kept confidential by Landlord, except as required by law and only to the extent required by such law, and (iv) all report findings shall be the sole property of the Tenant. Tenant shall, from time to
time, at Landlord’s request, execute such other affidavits, representations and the like concerning Tenant’s best knowledge and belief regarding the presence of Hazardous Materials on the Premises. Except to the extent caused by the
negligence or willful misconduct of Landlord or its employees, agents, invitees or contractors or caused by the tenant of the Admanco Space (or any employees, agents, invitees or contractors of the tenant of the Admanco Space), Tenant will indemnify
and hold Landlord harmless from any liability, claim or injury, including reasonable attorneys’ fees, and the cost of any required or necessary repair, cleanup, remediation or detoxification, solely arising out of (1) the use, manufacture,
handling, storage, disposal or release of any Hazardous Materials by any Tenant Parties on, under or about the Premises, or (2) an actual or alleged violation of Environmental Laws in connection with the presence any Tenant Parties on the
Premises or the operation of Tenant’s business on the Premises during the Lease Term. Tenant’s liability under this Section 8 is limited to the liability caused solely by the actions, omissions or negligence of Tenant Parties. The
foregoing covenants and indemnification shall survive the expiration of the Term of this Lease. 
 8.4 Landlord’s Environmental
Obligations. Except to the extent caused by Tenant Parties, Landlord will indemnify and hold Tenant it’s directors, owners, officers, 
  

 7 

 employees, subsidiaries, parent organizations, predecessors in interest, successors in interest and agents harmless from
any and all environmental conditions or environmental liabilities existing on the Premises prior to the date of the Lease, whether known or unknown, and whether such conditions or liabilities originated on site or have migrated onto the Premises
from off site. Landlord further acknowledges that it retains full possession and control of the subsurface of the property (i.e. any portion of the leased Premises below ground level or underneath building floors or foundations) and that Tenant has
and will not have had during any time covered by the Lease, possession or control of any portion of the subsurface of the property. The foregoing covenants and indemnification shall survive (i) the assignment of this Lease by Landlord, with
respect to environmental liabilities existing in advance of the date of such an assignment, and (ii) and the expiration of the Term of this Lease. 
 9. COMMON AREAS. Tenant and its employees, customers and invitees shall have the reasonable nonexclusive right to use the public portion of the Common Areas as may from time to time exist, in common with
Landlord and the other tenants and occupants of the Building and their respective employees, customers and invitees and all others to whom Landlord has or may hereafter grant rights to use the same. Landlord shall have the right to close any or all
portions of the Common Areas to such extent as may, in Landlord’s opinion, be necessary to prevent a dedication thereof or the accrual of any rights to any person or the public therein. Landlord shall at all times have full control, management
and direction of the Common Areas. Tenant shall not cause or allow any storage of materials or equipment outside of the Premises on any of the Common Areas except raw material and other production material, company vehicles and shipping trailers may
be stored within the outside storage area designated on Exhibit E attached hereto. Landlord reserves the right at any time and from time to time to reduce, increase, enclose or otherwise change the size, number, location, layout and nature of
the Common Areas, to construct additional buildings and stories, to create additional rentable areas through use and/or enclosure of Common Areas, to close portions of the Common Areas for maintenance, repair or replacement, providing that none of
the foregoing shall materially or adversely affect Tenant’s use of the Premises as permitted in Section 6. 
 10. PARKING. Tenant
and Tenant’s employees, customers and invitees shall have the exclusive right to use the parking spaces located within the Common Areas as shown on Exhibit E attached hereto. Tenant shall not permit vehicles to be abandoned or stored
(except within the Trailer Parking Area) in the parking areas of the Building. Notwithstanding the foregoing, the parking spaces designated on the attached Exhibit F shall be reserved for the exclusive use of the tenant of the Admanco Space.

 11. MAINTENANCE AND REPAIRS. 
 11.1 Tenant Maintenance. Tenant, at Tenant’s sole cost and expense (except as otherwise provided herein) shall maintain the Building and the Common Areas throughout the Term and in good and working condition and shall make all
repairs and replacements to the same, except structural repairs which shall be solely conducted at the expense of the Landlord. In addition to, and in no way in limitation of the foregoing, Tenant shall take good care of, repair and maintain all
driveways, pathways, roadways, sidewalks, curbs, parking areas, loading areas, landscaped areas, ponds, entrances and passageways in good order and repair and shall promptly remove all accumulated snow, ice and debris from any and all driveways,
pathways, roadways, sidewalks, curbs, parking areas, loading areas, entrances and passageways, and keep all portions of the Building, including appurtenant areas, in a clean and orderly condition free of snow, ice, 
  

 8 

 dirt, rubbish, debris and unlawful obstructions. Tenant shall also repair, replace, and maintain in good, safe, and
working condition, the exterior walls of the Building, the heating, ventilating, air conditioning, electrical, plumbing and mechanical systems in the Building along with the shafts, pipes, conduits, ducts, electrical and other utilities and Building
facilities. Notwithstanding the forgoing, Tenant shall have no obligation to maintain, repair or make replacements within the Admanco Space. Tenant shall be responsible for Tenant’s Proportionate Share of the costs and/or expenses Tenant incurs
in maintaining, repairing and replacing the Building and the Common Areas as described herein, and Landlord shall reimburse Tenant for 6% of such cost and/or expense within ten (10) days of a written demand for payment accompanied with a copy
of the applicable invoices and proof of payment. 
 11.2 Casualty. Except for Landlord’s negligence, Tenant shall be responsible
for the entire cost of all repairs and replacements otherwise the responsibility of Landlord hereunder that are required by reason of acts or negligence of Tenant, its agents, employees, customers or invitees, or the particular nature of
Tenant’s use of the Building, provided, however, that the foregoing shall not prohibit Tenant from make a claim therefore upon any insurance policy maintained by or for the Landlord hereunder. Tenant shall be responsible for repairing any
damage to the Building caused by the installation or moving of Tenant’s furniture, equipment, personal property, and approved Structural Alterations. Tenant shall, at its expense, also repair or replace with glass of equal quality any broken or
cracked plate or other glass in doors, windows and elsewhere in or adjacent to the Premises if broken or cracked by Tenant, its agent, employees, customers, or invitees. Tenant shall not defer any repairs or replacements to the Building by reason of
the anticipation of the expiration of the Term. 
 11.3 Landlord Responsibility. Landlord shall not be required to furnish any
services or facilities or to make any repairs or alterations in, about, or to the Building, provided, however, that notwithstanding anything contained herein, Landlord shall be responsible, at Landlord’s sole cost and expense, except as set
forth in Section 11.2 above, for the repair and maintenance of (i) the roof, structure, and foundation of the Building, and (ii) the parking lot portion of the Common Areas, unless Landlord resurfaces the parking lot as contemplated
on Exhibit D. Any repairs which are the responsibility of the Landlord not commenced by the Landlord within 30 days notice from the Tenant, can be performed by the Tenant and Landlord shall pay the reasonable costs incurred by Tenant within ten
(10) days of a written demand for payment accompanied with a copy of the applicable invoices and proof of payment. 
 12.
UTILITIES. 
 12.1 Utility Service. Tenant will pay, when due, all charges of every nature, kind or description for utilities
furnished to the Premises or chargeable against the Premises during the Term, including all charges for water, sewage, heat, gas, light, garbage, electricity, telephone, DSL, or other public or private utility services. Landlord shall cause heating,
ventilating, and air conditioning service, gas and electric to be separately metered to the Premises, at Landlord’s sole cost and without any contribution by Tenant and without any reduction to the Landlord Contribution, which separate metering
work shall be done in advance of the Commencement Date. If any utilities are not separately metered after commercially reasonable attempts to separately meter, then Tenant shall only be responsible for Tenant’s Proportionate Share of such
utilities. 
  

 9 

 12.2 Deposits. In the event that any charge, deposit or fee is required to furnish any utility to
the Premises as a condition precedent to furnishing or continuing to furnish such utility, such charge, deposit or fee shall be deemed to be a utility charge payable by Tenant. 
 12.3 Interruption. In no event shall Landlord be liable for damages, nor shall the rental herein reserved be abated or subject to offset or
deduction for failure to furnish or any delay in furnishing any utility services nor shall the temporary failure to furnish any of such services be construed as an eviction of Tenant or relieve Tenant from the duty of observing and performing all of
the provisions of this Lease. 
 13. ALTERATIONS. Those alterations identified on the attached Exhibit C and any non-structural
alterations (together the “Non-Structural Alterations”) required to accommodate Tenant’s manufacturing process during the term of the Lease do not need Landlord approval as provided in this Section 13 (however, Exhibit C
contains its own approval process). Tenant shall not make any structural alterations, additions or improvements (“Structural Alteration”) in, on or to the Premises or any part thereof without delivering to Landlord the plans and
specifications therefor and obtaining the express, prior written consent of Landlord. Landlord’s consent to any Structural Alteration shall not be unreasonably withheld and Landlord shall provide its approval or specify the reasons for its
rejection within ten (10) business days, however, if Landlord does not provide Tenant with a rejection of the submitted plans (or any resubmissions of plans) within said ten (10) business days, then Tenant’s plans most recently submitted shall
be deemed approved by Landlord.. Tenant shall pay for all reasonable costs incurred by Landlord in considering any request for consent to any proposed Structural Alteration project, including, without limitation, any architect, engineer, or attorney
fees, up to a maximum of Two Thousand Five Hundred Dollars ($2,500), per project. Any Non-Structural Alteration or approved Structural Alteration shall be made at Tenant’s own cost and expense and in a good and workmanlike manner in accordance
with the laws, ordinances and codes relating thereto and free from any claim or claims for construction liens, and Tenant shall indemnify and hold Landlord harmless from and against any and all claims, liens, costs and expenses on account of such
work. Upon completion of any Structural Alteration, Tenant shall provide Landlord with a copy of the as-built plans and blueprints for the same if such Structural Alteration materially differs from the original plans submitted. Normal and customary
decorating and redecorating of the Premises shall not require Landlord’s approval as long as Landlord has been provided reasonable notice and it does not affect Landlord’s operations, fire safety, insurability, or use by other tenants and
their customers, invitees, and agents. 
 14. SIGNS. Tenant shall not install, affix or place any sign or other advertising or
identifying media upon the exterior of the Premises or the Building without first obtaining the written consent of Landlord in each instance, which consent shall not be unreasonably withheld or delayed, subject to applicable ordinances.
Notwithstanding the foregoing, Landlord agrees to permit entrance signs showing the name of Tenant at both entrances to the Building and signage on the Building in a location or locations and in any size permitted by applicable ordinances. Landlord
agrees to remove or to have removed on or before December 1, 2005 and without any cost or contribution by Tenant and without any deduction from the Landlord Contribution, the large building-mounted Admanco sign located at southeastern side of the
Building and Tenant shall remove all other Admanco signs that are presently located at the entrances to the Building or are attached to the Building. Landlord further covenants and agrees that Tenant shall have the sole and exclusive right to any
signage at the entrances to the Building, and that no other tenant signage will be permitted except for signage immediately in front of the front door to the Admanco Space and in a size not to exceed 2’ high and 5’ wide. 
  

 10 

 15. LIENS. Tenant shall not create or permit any liens under any construction lien law to be filed
or recorded against the Premises or against the interest of Landlord or Tenant therein. If any such lien is filed or recorded, Tenant shall immediately cause such lien to be discharged of record, or bonded over in a form reasonably satisfactory to
Landlord. 
 16. RIGHT OF ENTRY. Landlord and its agents shall have the right to enter the Premises to inspect the condition thereof,
to supply any service to be provided by Landlord to Tenant hereunder, to show the Premises and to alter, improve, or repair the Premises and any portion of the Building at all times during business hours with at least forty-eight (48) hours advance
notice to Tenant, except in the event of an emergency (as determined by Landlord in its reasonable discretion), when no notice is required. Landlord agrees not to take or permit others to take any photographs, video or other recorded images of the
interior of the Premises. Landlord will use its best efforts not to interfere with Tenant’s business during such access. Tenant shall not add or change the locks to any doors of the Premises. Tenant will deposit or permit Landlord to deposit on
Tenant’s behalf a key to the Premises in a lock box if required by and for the benefit of the local fire department. Any entry to the Premises shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or
a detainer of, the Premises, or an eviction, of Tenant or impose any liability on Landlord. Nothing contained herein shall be deemed to impose on Landlord any obligation or duty to make repairs or alterations to the Premises except as expressly
provided in this Lease. 
 17. INSURANCE 
 17.1 Fire and Casualty. Tenant shall continuously maintain in full force and effect during the Term of this Lease a policy or policies of insurance insuring the Building against loss or damage by fire and
extended perils and other perils except those excluded by an “all-risk” replacement cost coverage, with full replacement cost and agreed amounts endorsements. Full replacement cost shall be interpreted to mean the cost of replacing the
Building with all required building code upgrades, and it shall include a reasonable sum for architectural, engineering, legal, administrative and supervisory fees connected with the restoration or replacement of the Building in the event of damage
to or destruction of the Building. Tenant shall be obligated for Tenant’s Proportionate Share of the cost of the aforementioned insurance and Landlord shall reimburse Tenant for 6% of the actual cost and/or expense within ten (10) days of
a written demand for payment accompanied with a copy of the applicable invoices and proof of payment. 
 17.2 Liability. During the
Term, Tenant, at its sole cost and expense, shall continuously maintain in full force and effect the following additional insurance coverages: 
 (a) Commercial general liability and excess/umbrella liability policies against any loss, liability or damage within the Premises, with limits of not less than $2,000,000.00 combined single limit coverage for bodily injury or property
damage liability claims on an occurrence basis arising out of or in connection with Tenant’s operations in and maintenance and use of the Premises. 
  

 11 

 (b) Boiler and pressure vessel (including, but not limited to, pressure pipes, steam pipes and
condensation return pipes) insurance, if the Building contains a boiler or other pressure vessel or pressure pipes, in an amount reasonably satisfactory to Landlord. 
 17.3 Rental Loss Insurance. As a part of the insurance coverage maintained by Tenant, Tenant shall, at Tenant’s sole cost and expense, during the demised term, carry rental loss insurance to insure the
payment of rent, the payment of taxes, charges and assessments, and the payment of insurance premiums under this Lease for a period of not less than twelve (12) months in the event of a casualty. 
 17.4 Policies. All policies of insurance required by this Lease shall provide that the Landlord and any mortgagee of Landlord be designated as
additional insureds, as their interests may appear. In addition, Landlord shall be designated as the loss payee on the casualty and rental loss insurance policies required hereunder. Each policy shall have attached (i) an endorsement that such
policy shall not be cancelled without at least thirty (30) days prior written notice to the other party, and (ii) an endorsement to the effect that the insurance shall not be invalidated by any act or neglect of any person. All policies of
insurance shall be written by a company or companies reasonably satisfactory to Landlord and licensed in the State of Wisconsin, and with a general policyholder’s rating of not less than A- and a financial rating of not less than VII in the
most current available Best’s insurance reports. Certificates of insurance, in a form reasonably acceptable to Landlord, shall be delivered to Landlord. 
 18. INDEMNITY. Tenant agrees to indemnify and save Landlord harmless against and from any and all third party claims, damages, losses, liabilities and expenses (including reasonable attorneys’ fees),
arising out of Tenant’s occupancy of the Premises or from the conduct of management of the business conducted by Tenant in the Premises from any breach or default on the part of Tenant in the performance of any covenant or agreement on the part
of Tenant to be performed pursuant to the terms of this Lease, or from any act or negligence of Tenant, its agents, contractors, servants, employees, sublessees, concessionaires or licensees in or about the Premises; but excluding (i) any claims,
damages, losses, liabilities or expenses to the extent caused by the willful misconduct or gross negligence of Landlord or Landlord’s employees, agents, contractors or invitees and (ii) any environmental claims, damages, losses, liabilities or
expenses that are not the responsibility of Tenant pursuant to Section 8.2 of this Lease. In case any action or proceeding is brought against Landlord by reason of any claim covered by Tenant’s indemnity, Tenant, upon notice from Landlord,
shall defend such action or proceeding that is brought against Landlord by reason of any such claim. Tenant, upon notice from Landlord, covenants to defend such action or proceeding by attorneys reasonably satisfactory to Landlord unless such
attorneys are chosen by Tenant’s insurer. 
 19. NONLIABILITY OF LANDLORD. Except to the extent solely caused by an act of
Landlord or Landlord’s agents, contractors, invitees or employees, Landlord shall not be liable to Tenant, and Tenant hereby waives all claims against Landlord, for any injury or damage to any person or property in or about the Building
resulting from the Building or Premises, or any part thereof, or any equipment thereof becoming out of repair; flooding of basements or other areas; damages caused by sprinkling devices, air-conditioning apparatus, snow, frost, water leakage, steam,
excessive heat or cold, falling plaster, broken glass, sewage, gas, odors or noise or the bursting or leaking of pipes or plumbing fixtures; any act or neglect of other tenants or occupants or employees in the Building; or any other thing or
circumstance whatsoever, whether of a like nature or of a wholly different nature. All property in or about the Building or in the 
  

 12 

 Premises belonging to Tenant, its agents, employees or invitees shall be there at the risk of Tenant or other person only
and Landlord shall not be liable for damage thereto or theft, misappropriation or loss thereof. If Landlord fails to perform any covenant or condition of this Lease upon Landlord’s part to be performed and, as a consequence of such default,
Tenant recovers a money judgment against Landlord, such judgment shall be satisfied only out of the proceeds of sale received upon execution of such judgment and levy thereon against the right, title and interest of Landlord in the Building and out
of rents or other income from such property receivable by Landlord and Landlord shall not be personally liable for any deficiency. 
 20.
CASUALTY. If the Premises or the Building is damaged or destroyed by fire or other casualty covered by insurance, then (unless this Lease is terminated as hereinafter provided) this Lease shall continue in full force and effect, Tenant shall
not be entitled to any abatement of rental, and Landlord shall promptly and diligently proceed, after adjustment of such loss, to repair or restore the Premises to the condition which Landlord furnished to Tenant upon the commencement of the Term.
Landlord shall be under no obligation to restore any Alterations to the Premises made by Tenant unless the same is covered by the casualty insurance required to be maintained hereunder, and nothing herein shall be construed to require Landlord to
insure such property. In no event shall Landlord be obligated to expend an amount in excess of the insurance proceeds available to Landlord for such repair or restoration. If the Premises are repaired as provided herein, then Tenant shall repair and
restore its furnishings, furniture, equipment and personal property at its own expense. Notwithstanding the foregoing, if any destruction or damage to the Premises or Building (whether or not the Premises are affected) is so extensive that Landlord
will be commercially and financially unable to repair or restore the Premises or Building within one hundred fifty (150) days, or the proceeds of insurance are not sufficient or available to fully pay the cost of the repair or restoration, then
Landlord may terminate this Lease effective as of the date of the damage by written notice to Tenant within 30 days of the casualty. Except in the case of an event of force majeure (defined below), if Landlord has not terminated this Lease pursuant
to the preceding sentence and the Premises are not repaired or rebuilt within one hundred eighty (180) days after the casualty, Tenant shall have the right to terminate this Lease by giving notice to Landlord within twenty (20) days following the
expiration of the one hundred eighty (180) day period. The provisions of this Section are subject to the rights of Landlord’s mortgagees, if any. 
 21. CONDEMNATION. If all or substantially all of the Premises are sold to or taken by any public authority under its power of condemnation or the threat thereof, this Lease shall terminate as of the date
possession is transferred to the acquiring authority, and the rental payable hereunder shall be apportioned accordingly. If any material part of the Building is sold or taken (whether or not the Premises are affected), Landlord shall have the right
to terminate this Lease as of the date possession is transferred to the acquiring authority upon giving written notice thereof to Tenant, and the rental payable hereunder shall be apportioned accordingly. If this Lease is not terminated pursuant to
the foregoing, then this Lease shall continue in force as to the part of the Premises not taken and the rent payable thereafter shall be reduced in proportion to the amount of total floor area of the Premises taken. If any such taking occurs,
Landlord, upon receipt and to the extent of the award in condemnation or proceeds of sale, shall, unless this Lease has been terminated, make necessary repairs and restorations (exclusive of Tenant’s leasehold improvements and Alterations) to
restore the Premises remaining to as near its former condition as circumstances will permit. All damages awarded by or amounts paid by the acquiring authority for any such taking, whether for the whole or a part of the Premises or the Building or
Common Areas shall belong to and be the sole property of Landlord whether such 
  

 13 

 damages are awarded as compensation for loss of, or diminution in value to, the leasehold or the fee thereof; provided,
however, Tenant shall have the right to pursue such claim or claims as Tenant may have legally for relocation expenses, interruption of business and such items which do not reduce the award or proceeds of sale payable to Landlord. If this Lease is
terminated, Tenant shall not have any claim against Landlord for the value of the unexpired term hereof. The provisions of this Section are subject to the rights of Landlord’s mortgagees, if any. Except in the case of an event of force majeure
(defined below), if Landlord does not make the determination to restore or rebuild the Premises within 45 days after the condemnation, or if the Premises are not repaired or rebuilt within 180 days after the condemnation, Tenant shall have the right
to terminate this Lease, by giving notice to Landlord within 20 days following the expiration of the applicable time period. If the Premises or any part of the Premises are rendered untenantable by the condemnation, a just proportion of the rental,
based upon the number of rentable square feet of area in the Premises which are untenantable, shall be abated until the Premises or such part of the Premises shall have been put in a tenantable condition. 
 22. ASSIGNMENT AND SUBLETTING. Tenant shall not assign, pledge, mortgage or otherwise transfer or encumber this Lease or sublet any part or all of
the Premises and shall not permit any use of any part of the Premises by any other party, or any transfer of its interest in the Premises by operation of law without Landlord’s prior consent, which will not be unreasonably withheld or delayed
except as required under any mortgage affecting the Building (refusal or delay due to any mortgage shall be considered a “reasonable” grounds for withholding consent). The following shall be deemed to be an assignment of this Lease within
the meaning of this section: (a) If Tenant is a nonpublic corporation, the sale, issuance or transfer of any voting stock of Tenant, or if Tenant is a public corporation, such sale, issuance or transfer results in Tenant becoming a nonpublic
corporation or results in a change in voting control of Tenant; (b) the sale, issuance or transfer of more than fifty percent (50%) of the partnership or membership interest in Tenant if Tenant is a partnership or limited liability company; (c) the
change or conversion of a general or limited partnership to a limited liability company, limited liability partnership or any other entity which possesses the characteristics of limited liability; (d) the sale, issuance or transfer of any beneficial
interest in Tenant if Tenant is a trust; and (e) the death or incapacity of Tenant if Tenant is a natural person. Without waiving Landlord’s right hereunder to declare a default in the event of an assignment of this Lease or a subletting of the
Premises or any part thereof or occupancy of the Premises by anyone other than Tenant, Landlord may collect from the assignee, sublessee or occupant, any rental and other charges herein required, but such collection by Landlord shall not be deemed
an acceptance of the assignee, sublessee or occupancy, nor a release of Tenant from the performance by Tenant of this Lease. Tenant at all times and under all circumstances shall remain liable to Landlord for the payment of rent due and to become
due and the performance of all other obligations of Tenant hereunder for the term hereof. Tenant shall pay to Landlord, as additional rent, any costs and expenses including attorneys’ fees incurred by Landlord in connection with any proposed or
purported assignment, sublease or other transfer. 
 23. DEFAULT. 
 23.1 If: 
 (a) Tenant fails to pay the rent
or any charge due hereunder within ten (10) days after written notice of such default, or 
  

 14 

 (b) Tenant fails to perform any of the other covenants or conditions herein contained on the part of
Tenant, and such default shall continue for 30 days after written notice thereof shall have been given to Tenant, provided, however, if the nature of the default is such that it cannot be reasonably cured within the 30 day period, Tenant shall not
be deemed in default if Tenant commences to cure within the 30 day period and diligently prosecutes the same to completion, or 
 (c) Tenant
or any guarantor of this Lease becomes insolvent or bankrupt or makes an assignment for the benefit of creditors, or 
 (d) a receiver or
trustee of Tenant’s property or that of any guarantor of this Lease is appointed and such receiver or trustee, as the case may be, is not discharged within 60 days after such appointment, 
 then in any such case, Landlord may, upon written notice to Tenant, recover possession of and reenter the Premises without affecting Tenant’s liability for past
rent and other charges due or future rent and other charges to accrue hereunder. Notwithstanding the foregoing sentence and the remedies provided in Section 23.2 below, if Tenant subsequently cures an event of default after the passage of any
applicable cure period and Landlord fails to exercise Landlord’s remedies provided in the forgoing sentence and in Section 23.2 below as a consequence of such event of default within thirty (30) days after the date that Tenant cures
the event of default, then that particular event of default shall thereafter be deemed waived by Landlord. 
 23.2 Remedies. If an
event of Default occurs and Tenant fails to cure the Default within any applicable cure period, Landlord shall have the rights and remedies set forth below, which shall be distinct, separate and cumulative and shall not operate to exclude or deprive
Landlord of any other right or remedy allowed it at law or in equity or elsewhere in this Lease: 
 (a) Landlord may terminate this Lease by
giving Tenant written notice of its election to do so, in which event the Term shall end and all right, title and interest of Tenant under this Lease shall expire on the date stated in such notice; 
 (b) Landlord may terminate Tenant’s right to possess the Premises without terminating this Lease by giving written notice to Tenant that
Tenant’s right of possession shall end on the date stated in such notice, whereupon Tenant’s right to possess all or any portion of the Premises shall cease on the date stated in such notice; and 
 (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights of Landlord under this Lease by a suit or suits in equity
or at law for the specific performance of any covenant or agreement contained in this Lease, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all monies
due or to become due from Tenant under any of the provisions of this Lease. Landlord shall, to the extent required by law, use commercially reasonable efforts to mitigate Tenant’s damages. 
 23.3 Surrender of Possession. If Landlord exercises either of the remedies provided for in Paragraphs 23.2(a) and (b), Tenant shall surrender
possession of and vacate the Premises and immediately deliver possession of the Premises to Landlord, and Landlord may re-enter and take complete and peaceful possession of the Premises, with or without process of law, 
  

 15 

 full and complete license so to do being granted to Landlord, and Landlord may remove all occupants and property from the
Premises, using such force as may be necessary, without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer, and as to Paragraph 23.2(b), without relinquishing Landlord’s right to Rent or any other right given
to Landlord under this Lease or by law or in equity. 
 23.4 Additional Rights and Remedies. Notwithstanding anything to the contrary
contained in this Lease, in addition to the remedies set forth herein, Landlord may pursue any other remedy now or hereafter available under the laws or judicial decisions of the State of Wisconsin. 
 23.5 Termination of Lease. In the event of the termination of this Lease by Landlord as provided for by Paragraph 23.2(a), Landlord shall be
entitled to recover from Tenant (i) all the accrued and unpaid Rent for the period up to and including such termination date as well as all other additional sums payable by Tenant, or for which Tenant is liable or in respect of which Tenant has
agreed to indemnify Landlord under any of the provisions of this Lease, which may be then owing and unpaid, and all costs and expenses, including, without limitation, court costs and attorneys’ fees incurred by Landlord in the enforcement of
its rights and remedies under this Lease, and (ii) Landlord shall be entitled to recover as damages for loss of the bargain and not as a penalty the unamortized cost of any leasehold improvements, additions, alterations, if any, paid for by
Landlord pursuant to this Lease, unless Landlord was reimbursed for such costs by Tenant or though other sources. 
 23.6 Costs. The
losing party shall pay all costs, charges and expenses, including, without limitation, court costs and reasonable attorneys’ fees of the prevailing party, incurred in enforcing the obligations of the losing party under this Lease. 

23.7 Bankruptcy. In the event a petition is filed by or against Tenant under the federal bankruptcy laws now in effect or as amended from time
to time (the “Bankruptcy Code”): 
 (a) Tenant, as debtor and debtor in possession, and any trustee who may be appointed, agree to
adequately protect Landlord as follows: (i) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all Rent due pursuant to this Lease; (ii) to perform
each and every obligation of Tenant under this Lease until such time as this Lease is either rejected or assumed by order of a court of competent jurisdiction; (iii) to determine within sixty (60) days after filing of such petition whether
to assume or reject this Lease; (iv) to give Landlord at least thirty (30) days prior written notice, unless a shorter notice period is agreed to in writing by the parties, of any proceeding relating to any assumption or rejection of this
Lease; (v) to give at least thirty (30) days prior written notice of any vacation or abandonment of the Premises, any such vacation or abandonment to be deemed a rejection of this Lease; and (vi) to do all other things of benefit to
Landlord otherwise required under the Bankruptcy Code. Tenant shall be deemed to have rejected this Lease in the event of the failure to comply with any of the above. 
 (b) If Tenant or a trustee elects to reject this Lease subsequent to the filing of a petition under the Bankruptcy Code, or if this Lease is otherwise rejected, Tenant shall immediately vacate and surrender possession
of the Premises. 
 (c) If Tenant or a trustee elects to assume this Lease subsequent to the filing of a petition under the Bankruptcy Code,
Tenant, as debtor and as debtor in possession and 
  

 16 

 any trustee who may be appointed agree as follows: (i) to cure each and every existing breach by Tenant within not
more than ninety (90) days of assumption of this Lease; (ii) to compensate Landlord for any actual pecuniary loss resulting from any existing breach, including without limitation, Landlord’s reasonable costs, expenses and
attorneys’ fees incurred as a result of the breach, as determined by a court of competent jurisdiction, within ninety (90) days of assumption of this Lease; (iii) in the event of an existing breach, to provide adequate assurance of
Tenant’s future performance, including without limitation: (a) the deposit of an additional sum equal to three months’ Rent to be held (without any allowance for interest) to secure Tenant’s obligations under the Lease;
(b) the production to Landlord of written documentation establishing that Tenant has sufficient present and anticipated financial ability to perform each and every obligation of Tenant under this Lease; and (c) assurances, in form
acceptable to Landlord, as may be required under any applicable provisions of the Bankruptcy Code; (iv) the assumption will not breach any provision of this Lease; (v) the assumption will be subject to all the provisions of this Lease
unless the prior written consent of Landlord is obtained, which consent shall not be unreasonably withheld, conditioned or delayed; and (vi) the prior written consent to the assumption of any mortgagee to which this Lease has been assigned as
collateral security is obtained. 
 (d) If Tenant assumes this Lease and proposes to assign the same pursuant to the provisions of the
Bankruptcy Code to any person or entity who shall have made a bona fide offer to accept an assignment of this Lease on terms acceptable to Tenant, then notice of such proposed assignment, setting forth (i) the name and address of such
person; (ii) all the terms and conditions of such offer; and (iii) the adequate assurance to be provided Landlord to assure such person’s future performance under the Lease, including without limitation, the assurances referred to in
any applicable provision of the Bankruptcy Code, shall be given to Landlord by Tenant no later than twenty (20) days after receipt by Tenant, but in any event no later than ten (10) days prior to the date that Tenant shall make application
to a court of competent jurisdiction for authority and approval to enter into such assignment and assumption, and Landlord shall at such time have the prior right and option, to be exercised by notice to Tenant given at any time prior to the
effective date of such proposed assignment, to accept an assignment of this Lease upon the same terms and conditions and for the same consideration, if any, as the bona fide offer made by such person, less any brokerage commissions which may be
payable out of the consideration to be paid by such person for the assignment of this Lease. The adequate assurance to be provided to Landlord to assure the assignee’s future performance under the Lease shall include without limitation:
(a) the deposit of a sum equal to two (2) months’ Rent to be held (without any allowance for interest) as security for performance under this Lease; (b) a written demonstration that the assignee meets all reasonable financial and
other criteria of Landlord as did Tenant and its business at the time of execution of this Lease, including the production of the most recent audited financial statement of the assignee prepared by an independent certified public accountant; and
(c) the assignee’s use of the Premises will conform with the use set forth herein. 
 Neither Tenant nor any trustee who may be
appointed in the event of the filing of a petition under the Bankruptcy Code shall conduct or permit the conduct of any “fire,” “bankruptcy,” “going out of business” or auction sale in or from the Premises. 

24. COSTS AND ATTORNEYS’ FEES. Each party hereto shall pay all costs, expenses and reasonable attorneys’ fees that may be incurred by
the other party hereto in enforcing any covenants and agreements of this Lease if and to the extent that such other party prevails on its claims. 
  

 17 

 25. INTEREST. Any amount due from Tenant to Landlord hereunder which is not paid when due shall
bear interest at an annual rate equal to 5% per annum in excess of the reference rate of interest announced, from time to time, by M&I Marshall and Ilsley Bank, Milwaukee, Wisconsin or its successor (but in no event shall such rate of interest
exceed the maximum rate of interest permitted to be charged by law) from the date due until paid, compounded monthly, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. 
 26. SURRENDER. Upon the termination of this Lease, by expiration or otherwise, Tenant shall peaceably surrender the Premises to Landlord in good
condition and repair consistent with Tenant’s duty to make repairs as provided herein, ordinary wear and tear and damage by insured, fire and other casualty excepted. All Alterations and decorations made to the Premises by Tenant shall remain
and be the property of Landlord unless Landlord shall require Tenant, at Tenant’s expense, to remove any or all thereof and repair the damage caused by such removal. If Landlord is provided with accurate plans and specifications, Landlord shall
indicate, prior to commencement of construction or installation of any Alteration or decoration, whether such Alterations or decorations will remain with the Premises at the end of the Lease Term or any extension thereof. Notwithstanding the
foregoing, all furniture, inventory, manufacturing equipment, and trade fixtures, and unattached movable personal property owned by Tenant may (and upon Landlord’s request shall) be removed from the Premises by Tenant no later than the
termination date and Tenant shall repair any and all damage caused by such removal. Tenant shall also have the right to remove all (i) air compressors, (ii) electrical substations, (iii) air handling equipment, (iv) exhaust systems, and (v) steel
storage shed and Tenant shall repair any and all damage caused by such removal. If the Premises are not surrendered upon the termination of this Lease as set forth herein, Tenant shall indemnify Landlord against all loss or liability resulting from
delay by Tenant in so surrendering the Premises including, without limitation, any claim made by any succeeding tenant founded on such delay. Tenant shall also surrender all keys to the Premises and shall inform Landlord of combinations in any
locks, safes and vaults, if any, in the Premises. 
 27. HOLDOVER. If Tenant remains in possession of the Premises after the
expiration of this Lease without the execution of a new lease, it shall be deemed to be occupying said premises as a tenant from month-to-month, subject to all of the conditions, provisions and obligations of this Lease insofar as the same are
applicable to a month-to-month tenancy until the termination of such tenancy, except that the Base Rent will be 200% of the Base Rent previously in effect. Payment of Rent during such period does not grant Tenant any greater rights under this Lease.

 28. TRANSFER BY LANDLORD. A sale or conveyance by Landlord of the Building releases Landlord from any future liability under this
Lease, provided the transferee landlord assumes all obligations of Landlord arising on or after the date of such transfer, and in such event Tenant agrees to look solely to the successor in interest of Landlord in and to this Lease. This Lease shall
not be affected by any such sale or conveyance, and Tenant will attorn to the purchaser or grantee, which shall be obligated on this Lease only so long as it is the owner of Landlord’s interest in and to this Lease. Notwithstanding the
foregoing, Landlord shall remain liable for its obligation to indemnify Tenant pursuant to the terms of this Lease for any liability that relates to the time periods before the sale or conveyance. 
  

 18 

 29. SUBORDINATION. Subject to the provisions below, this Lease is and shall be subject and
subordinate at all times to the lien of any mortgages now or hereafter placed on or against the Building, or on or against Landlord’s interest or estate therein, and including all extensions, renewals, amendments and supplements to any such
financing, without the necessity of the execution and delivery, of any further instruments on the part of Tenant to effectuate such subordination. Tenant will execute and deliver upon demand such further instruments evidencing such subordination of
this Lease to the lien of any such mortgages as may be required by Landlord provided that the holder of any mortgage has agreed to recognize the rights of Tenant under this Lease so long as Tenant is not in default hereunder. Notwithstanding
anything herein above contained in this Section, if the holder of any mortgage at any time elects to have this Lease constitute a prior and superior lien to its mortgage, then upon any such holder notifying Tenant to that effect in writing, this
Lease shall be deemed prior and superior in lien to such mortgage, whether this Lease is dated prior to or subsequent to the date of such mortgage. 
 30. MODIFICATIONS. Tenant will execute any modification of this Lease which may be reasonably required by a lender as a condition to making a first mortgage loan on the Building; provided that no such modification shall alter the
rent or term provided herein or materially reduce the economic value hereof to Tenant or conflict with the Tenant’s obligations to its lenders. Tenant will complete and promptly return any estoppel certificates that may be required in
connection with any mortgage loan on the Building. From time to time, upon receipt of a written request, Tenant shall furnish Landlord and its lender a copy of Tenant’s most recent SEC 10Q or 10K filing. In the event that Tenant does not make
such filings, Tenant shall provide to Landlord, upon Landlord’s request, certified copies of Tenants most recent financial statements for Tenant prepared by Tenant in the ordinary course of its business and in accordance with sound accounting
practices. 
 31. ESTOPPEL CERTIFICATES. At any time and from time to time upon not less than 10 days after the request of Landlord,
Tenant shall execute, acknowledge and deliver to Landlord a statement in writing certifying (a) that this Lease is unmodified and in full force and effect (or if there have been modifications, specifying the same), and (b) the dates to which the
rent and other charges have been paid, and (c) that, so far as Tenant knows, Landlord is not in default under any provisions of this Lease (or if Tenant knows of any such default, specifying the same) and (d) such other matters as Landlord or
Landlord’s mortgagee may reasonably require. Any such statement may be relied upon by any person proposing to acquire Landlord’s interest in this Lease or any prospective mortgagee of, or assignee of any mortgage upon, such interest.

 32. SORTING AND SEPARATION OF REFUSE AND TRASH. At Tenant’s sole cost and expense, Tenant will comply with all present and
future laws, orders, and regulations of all state, federal, municipal, and local governments, departments, commissions and boards regarding the collection, sorting, separation and recycling of waste products, garbage, refuse and trash into such
categories as provided by law. Each separately sorted category of waste products, garbage, refuse and trash shall be placed in separate receptacles specified by Landlord. Such separate receptacles may, at Landlord’s option, be removed from the
Premises in accordance with a collection schedule prescribed by law. Landlord reserves the right to refuse to collect or accept from Tenant any waste products, garbage, refuse or trash that is not separated and sorted as required by law or in
accordance with the provisions of this section, and to require Tenant to 
  

 19 

 arrange for such collection at Tenant’s sole cost and expense, utilizing a contractor satisfactory to Landlord.
Tenant shall pay all costs, expenses, fines, penalties or damages that may be imposed on Landlord or Tenant by reason of Tenant’s failure to comply with the provisions of this section, and, at Tenant’s sole cost and expense, shall
indemnify, defend, and hold Landlord harmless (including attorneys’ fees and expenses) from and against any actions, claims, and suits arising from such noncompliance, utilizing counsel reasonably satisfactory to Landlord. 
 33. NOTICES. All notices and demands which may or are required to be given by either party to the other hereunder shall be in writing, and
delivered in person or sent by either United States certified mail, return receipt requested, postage prepaid or by Federal Express or other nationally recognized overnight delivery service. Notices and demands to Tenant shall be addressed to it at
the address set forth in Section 1.11 hereof or to such other place as Tenant may from time to time designate in a written notice to Landlord. Notices and demands to Landlord shall be addressed to it at the address set forth in Section 1.10 hereof,
or to such other firm or to such other place as Landlord may from time to time designate in a written notice to Tenant. 
 34.
EXECUTION. The submission of this document for examination does not constitute an offer to lease, or a reservation of, or option for, the Premises and this document becomes effective and binding only upon the execution and delivery hereof by
both Landlord and Tenant. Tenant confirms that Landlord has made no representations or promises with respect to the Premises or the making or entry into of this Lease except as are expressly set forth herein, and agrees that no claim or liability
shall be asserted by Tenant against Landlord for, and Landlord shall not be liable by reason of, breach of any representations, or promises not expressly stated in this Lease. This Lease can be modified or altered only by agreement in writing
between Landlord and Tenant. 
 35. BINDING EFFECT. The covenants, agreements and obligations herein contained, except as herein
otherwise specifically provided, shall extend to, bind and inure to the benefit of the parties hereto and their respective personal representatives, heirs, successors and assigns (but in the case of assigns only to the extent that assignment is
permitted hereunder). No third party, other than such successors and assigns, shall be entitled to enforce any or all of the terms of this Lease or shall have rights hereunder whatsoever. 
 36. INTERPRETATION. The laws of the State of Wisconsin shall govern the validity, performance and enforcement of this Lease. The invalidity or
unenforceability of any provision of this Lease shall not affect or impair any other provision. Whenever the singular number is used, the same shall include the plural, and the masculine gender shall include the feminine and neuter genders. The
captions appearing in this Lease are inserted only as a matter of convenience and in no way define, limit, construe or describe the scope or intent of such sections or paragraphs of this Lease nor in any way affect this Lease. 
 37. FORCE MAJEURE. If either party is delayed or hindered in or prevented from the performance of any act required hereunder by reason of strikes,
lockouts, labor troubles, inability to procure materials, failure of power, restrictive governmental laws, regulations, orders or decrees, riots, insurrection, war, acts of God, inclement weather, or other reason beyond either party’s
reasonable control, then performance of such act shall be excused for the period of the delay and the period for the performance of any such act shall be extended for a period equivalent to the period of such delay; provided, however, Tenant’s
obligation to pay rent shall not be affected hereby. 
  

 20 

 38. AUTHORITY. If Tenant is a corporation or limited liability company, each individual executing
this Lease on behalf of Tenant represents and warrants that he or she is duly authorized to execute and deliver this Lease on behalf of said corporation or limited liability company, as the case may be, and that this Lease is binding upon said
corporation or limited liability company, as the case may be in accordance with its terms without the joinder or approval of any other person. 
 39. MEMORANDUM. A memorandum of this Lease in form reasonably acceptable to Landlord may be recorded. 
 40.
EXTENSIONS. Tenant is hereby granted one (1) option to extend the Lease for a period of five (5) years and a subsequent second option to extend the Lease for a period of three (3) years (each such option period shall be referred to as an
“Extended Term”). Tenant may exercise the option only if: (i) Tenant is not, at the time of notice of intent to exercise of the option as described below, then in default in the payment of money under this Lease which is not within the
cure period defined in the Lease, or then in default under any other provision of this Lease which is not within the cure period in the Lease, after giving effect to any requirements therein for the giving of notice or grace period or both, and (ii)
Landlord receives from Tenant written notice of Tenant’s exercise of the option no less than one hundred eighty (180) days prior to the end of the then current Term. If Tenant exercises the foregoing option to extend, the annual Base Rent for
said Extended Term shall be equal to 110% of the annual Base Rent for the previous term. 
 41. RIGHTS OF FIRST REFUSAL. 

41.1 Admanco Space. If, at any time during the term of the Lease, Landlord receives a written offer to lease that portion of the Building
currently leased to Admanco – a division of EBSCO Industries, Inc. (the “Admanco Space”), from anyone other than the existing tenant, or an affiliate or parent of Landlord, Landlord shall first give written notice to Tenant of
Landlord’s intention to lease Admanco Space and shall present to Tenant a copy of the lease upon which Landlord is willing to lease such space. In such event, Tenant shall have the right for a period of thirty (30) days after such notice
to lease such space on the presented terms. If within such thirty (30) day period, Tenant elects not to lease such space on the presented terms, this right of first refusal shall terminate and the Tenant shall have no further interest in the
Admanco Space except as set forth in Section 41.2 below. 
 41.2 Building. If Landlord receives from an unrelated third party a
bona fide offer to purchase, or in any way acquire, fee simple title to the Building (the “Offer”), Landlord shall give Tenant notice in writing of such Offer which shall include a true and complete copy of the Offer, and of
Landlord’s willingness to sell or otherwise transfer the Property on the terms and conditions in the Offer (the “Offer Notice”). Tenant shall then have the first right and option to purchase the Property by giving written notice to
Landlord, within thirty (30) days of its receipt of the Offer Notice, of its intention to purchase the Property at the same price and on the same terms as the Offer. 
 If Tenant elects not to exercise its right of first refusal or fails to give written notice within said thirty (30) day notice period, Landlord may thereafter sell or otherwise transfer the Property to the party
making the Offer and on the same terms and conditions contained in the Offer Notice. If there are any material changes in the Offer or in the third party buyer, Landlord shall resubmit the revised Offer to Tenant for acceptance or rejection in

  

 21 

 accordance with the above terms of this Right of First Refusal. This Right of First Refusal and the rights and terms
hereunder shall run with the land and shall be binding upon all subsequent transferees and assigns of Landlord until such time as Tenant acquires the Property. For purposes hereof, an offer, in order to be a bona fide offer, must be in writing and
must be made by a person or entity having sufficient financial ability and willing to consummate the transaction so proposed to Landlord. 
 42. ADDENDA. The provisions, if any, included at the end of this Lease, and any riders and exhibits appended to this Lease, are hereby made a part of this Lease as though set forth in full at this point. 
 43. COUNTERPARTS. This Lease may be executed in counterparts, each of which shall constitute an original, but all of which shall constitute one
document. Either party hereto may execute this document by facsimile signature which facsimile signature shall be deemed to be an original signature. 
 [signature page follows] 
  

 22 

 EXECUTED as of the date first written above. 
  

			
	LANDLORD:
	
	700 STANTON DRIVE, LLC
		
	By:	 	 /s/ Scott J. Revolinski

		 	 Scott J. Revolinski, Member
 Authorized
Agent

	
	TENANT:
	
	ALLIANCE LAUNDRY SYSTEMS LLC
		
	By:	 	 /s/ Bruce P. Rounds

	Print Name:	 	 Bruce P. Rounds

	Title:	 	 VP - CFO

  

 23 

 EXHIBIT A 
 LEGAL DESCRIPTION OF BUILDING 
 Parcel 1: 
 Commencing at a point on the East line of the Southeast 1/4 of Section 16, in Township 16 North of Range 14 East, lying 1419.69 feet South 00 degrees 32 minutes West
of the Northeast Corner of said Southeast 1/4, thence South 00 degrees 32 minutes West, 744.04 feet to the Northwesterly line of the C.M. St.P & P.R.R. right of way, thence South 52 degrees 30 minutes West along said right of way line 30.78
feet, thence South 89 degrees 21 minutes West, 763.08 feet, thence North 00 degrees 08 minutes West, 778.74 feet, thence South 89 degrees 28 minutes East, 796.21 feet to the place of beginning. 
 Parcel 2: 
 Outlot in Certified Survey Map
No. 5243, as recorded in Volume 32 of Certified Survey Maps, at Pages 72, 72A and 72B, as Document No. 612718, Excepting lands described in Quit Claim Deed in Volume 1480 of Records, at Page 8, Document No. 682368. 
 Note: Lease contains Site Plan diagram illustration as part of Exhibit A 
  

 A-1 

 EXHIBIT B 
 FLOOR PLAN OF THE PREMISES 
 Note: Lease contains site plan diagram illustration that outlines
the lease 134,921 sq foot building space. 
  

 B-1 

 EXHIBIT C 
 TENANT IMPROVEMENTS 
 1. Tenant will be granted the right, subject to Landlord’s approval of
Tenant’s plans and specifications (as described in paragraph 3 below), to make the following improvements to and install the following fixtures within the Premises (collectively, the “Tenant Improvements”): (i) addition of
electrical substations and change point to point electrical connections to support manufacturing process, (ii) add additional air handling equipment and exhaust system to exhaust welding smoke from building, (iii) remove/modify existing
HVAC ducting to accommodate manufacturing equipment (may need to add spot heating equipment), (iv) add air compressor and modify/add point to point air lines to support manufacturing layout, (v) modify/add fire protection/sprinkler system
to accommodate manufacturing process/insurance and code requirements, (vi) modify/add point to point natural/LP gas lines to support manufacturing layout, (vii) modify/add lighting pattern to support manufacturing layout,
(viii) modify floor to increase floor thickness (for required footer thickness) as needed to accommodate manufacturing equipment, (ix) office modifications to accommodate computer, telephone lines, etc., (x) modify/add sanitary and
drainage lines in building to accommodate manufacturing process (may include demolition and restoration of existing floor to add, modify and/or connect into existing sanitary/drainage system), (xi) develop a steel storage shed (canopy type
shed) outside of the building and on the parking lot surface for use in providing cover for the outside storage of stainless steel raw material, and (xii) and modification of the existing interior load-bearing partition walls to develop
openings for Tenant’s long assembly lines to be installed. Tenant may make additional improvements as part of Tenant’s Improvements conducted in advance of the Commencement Date of the Lease beyond those listed above subject to the same
Landlord approval requirement provided above. 
 2. Prior to the Commencement Date, Tenant shall have the right to enter the Premises to
construct the Tenant Improvements. From the date of Tenant’s first entry upon the Premises, Tenant will indemnify Landlord and save it harmless from and against any and all claims, actions, damages, liability and expense in connection with loss
of life, personal injury and/or damage to property, or presence of Hazardous Materials, arising from or out of any occurrence in, upon or at the Building or by reason of the presence of Tenant, its agents, contractors, suppliers, invitees, and
employees upon the Premises or Building and the construction of the Tenant Improvements. If Landlord is made a party to any litigation arising out of any such occurrence, then Tenant shall protect and hold Landlord harmless and shall pay all costs,
expenses and reasonable attorneys’ fees incurred or paid by Landlord in connection with such litigation. Tenant’s obligations under this section shall survive the termination of this Lease. 
 3. Prior to commencement of the Tenant Improvements, Tenant shall submit engineering plans for the same to Landlord for approval, which approval shall
not be unreasonably withheld or delayed. Notwithstanding the foregoing, if Landlord does not provide Tenant with a rejection of the submitted plans (or any resubmissions of plans) within five (5) business days after delivery by Tenant of the
same, then Tenant’s plans most recently submitted shall be deemed approved by Landlord. Tenant shall construct the Tenant Improvements in compliance with all applicable laws and regulations. 
  

 C-1 

 4. Tenant shall notify its contractors and suppliers for the Tenant Improvements that Tenant is not
acting as the agent of the Landlord and shall have no right to a mechanic or materialman’s lien on the Landlord’s interest in the Building. Tenant will indemnify and hold Landlord harmless from any and all liens, claims, damages or costs
arising out of the performance of the work for the Tenant Improvements. Landlord will have the right to impose reasonable conditions upon the performance of the work, including, without limitation, setting means of access, rules concerning the
disturbance of other tenants, hours of performing the work, limiting access to the building, and otherwise. Tenant shall not disturb or interfere the with the operations of other tenants of the Building. No material changes to the approved plans and
specifications will be made except with the prior written consent of Landlord (subject to the same approval provisions and time periods outlined in paragraph 3 above). All such work performed shall be done in a good and workmanlike manner in
compliance with all then current building codes, laws, ordinances, and regulations. 
 5. Tenant shall pay for all costs associated with the
Tenant Improvements. Upon completion of the Tenant Improvements, Tenant shall deliver to Landlord 1) final lien waivers from all those who worked on or supplied materials to the Building, 2) a certificate of substantial completion, 3) a copy of a
final, unconditional Certificate of Occupancy 4) a one year warranty from the Tenant’s general contractor in favor of Landlord and Tenant for one year from the date of substantial completion, 5) an as-built set of plans for the Tenant
Improvements if the Tenant Improvements were constructed in a manner that is materially different from the Tenant Improvements depicted in the plans approved by Landlord, and 6) a list of all subcontractors and architects who worked on the Premises.

 6. Tenant acknowledges that it accepts the Premises in its “as is” condition prior to the commencement of the Tenant
Improvements and Tenant’s acceptance of the Premises is in no way conditioned upon Tenant’s ability to complete the Tenant Improvements. Landlord has no obligation or liability for completing the Tenant Improvements. 
  

 C-2 

 EXHIBIT D 
 LANDLORD WORK 
 At a time mutually agreeable to Landlord and Tenant, but in no event later than
July 1, 2006, Landlord shall either (i) resurface and stripe the parking lot located at the Building, or (ii) pull the weeds, fill in all of the cracks, seal and stripe the parking lot (the “Landlord’s Work”).

 Landlord shall also pay to Tenant for the construction of the following improvements (the “Work”) the amount of actual costs
incurred by Tenant for the such improvements during the term of the Lease up to Seventy Five Thousand Dollars ($75,000) (the “Landlord Contribution”): (i) develop an additional loading dock constructed substantially the same as the
existing loading docks located on the southwest end of the Building, (ii) increase the size of the water lateral from 4” to 6”, (iii) develop a demising wall between the Premises and the Admanco Space, and (iv) increase the
ceiling height within portions (approximately 1000 to 3000 square feet to be determined by Tenant) of the Building as required for the installation and use of Tenant’s manufacturing equipment. All of the work contemplated by this paragraph will
be done by contractors directed by Tenant. Bids will be obtained by Tenant for the Work for Landlord’s approval prior to December 31, 2005. 
 The Landlord Contribution shall be paid to Tenant in the form of a credit against the monthly payments of Base Rent first due under the Lease. Tenant shall deliver to Landlord 1) final lien waivers from all those who
worked on or supplied materials to the project, 2) a certificate of substantial completion from Tenant’s contractor, 3) an as-built set of plans for the Work, if the Work is performed or conducted in a manner that is materially different from
the Work depicted in the plans approved by Landlord, 4) a list of all subcontractors and architects who worked on the Premises, and 5) an accounting of Tenant’s actual construction costs. 
  

 D-1 

 EXHIBIT E 
 ALLIANCE EXCLUSIVE PARKING 
 Lease contains site plan diagram illustration that
outlines the Alliance exclusive parking area. 
  

 E-1 

 EXHIBIT F 
 ADMANCO EXCLUSIVE PARKING 
 Lease contains site plan diagram illustration that outlines the Admanco exclusive parking
area. 
  

 F-1 

 EXHIBIT G 
 RECORDED COVENANTS AND RESTRICTIONS 
 NONE 
  

 G-1Indenture relating to 0.5%'s Subordinated Convertible Debentures, Series B

 Exhibit 4.4 
  
  

  
  
  
 INDENTURE

  
 Dated as of December 16, 2004 
  
 between 
  
 GETTY IMAGES, INC., as Issuer 
  
 and 
  
 THE BANK OF NEW YORK, as Trustee 
  
  

  
 0.5% Convertible 
 Subordinated Debentures, Series B due 2023 
  
  

 
  

 GETTY IMAGES, INC. 
 CROSS REFERENCE SHEET 
 THIS CROSS REFERENCE SHEET SHOWS THE LOCATION IN THE INDENTURE OF THE PROVISIONS INSERTED
PURSUANT TO SECTION 310-318(a), INCLUSIVE, OF THE TIA. 
  

						
	Trust Indenture
Act Section	 	 	 	  	Indenture
  Section
	§ 310	(a)(1)	 		  	6.09
	 	(a)(2)	 		  	6.09
	 	(a)(3)	 		  	N.A.
	 	(a)(4)	 		  	N.A.
	 	(a)(5)	 		  	6.07, 6.09
	 	(b)	 		  	6.07; 6.09; 18.02
	 	(c)	 		  	N.A.
	§ 311	(a)	 		  	6.10
	 	(b)	 		  	6.10
	 	(c)	 		  	N.A.
	§ 312	(a)	 		  	2.05
	 	(b)	 		  	18.03
	 	(c)	 		  	18.03
	§ 313	(a)	 		  	7.03
	 	(b)(1)	 		  	N.A.
	 	(b)(2)	 		  	7.03
	 	(c)	 		  	7.03; 18.02
	 	(d)	 		  	7.03
	§ 314	(a)	 		  	10.04, 18.01, 18.02
	 	(b)	 		  	N.A.
	 	(c)(1)	 		  	18.04
	 	(c)(2)	 		  	18.04
	 	(c)(3)	 		  	N.A.
	 	(d)	 		  	N.A.
	 	(e)	 		  	18.05
	 	(f)	 		  	N.A.
	§ 315	(a)	 		  	6.01(b)
	 	(b)	 		  	6.05; 18.02
	 	(c)	 		  	6.01(a)
	 	(d)	 		  	6.01(c)
	 	(e)	 		  	4.11
	§ 316	(a)(last sentence)	 		  	2.08
	 	(a)(1)(A)	 		  	4.05
	 	(a)(1)(B)	 		  	4.04
	 	(a)(2)	 		  	N.A.
	 	(b)	 		  	4.07
	 	(c)	 		  	9.04
	§ 317	(a)(1)	 		  	4.08
	 	(a)(2)	 		  	4.09
	 	(b)	 		  	2.04
	§ 318	(a)	 		  	18.01

 N.A. means Not Applicable. 
 NOTE: This Cross-Reference Table shall not, for any purpose, be deemed to be a part of the Indenture. 

 TABLE OF CONTENTS 

 ARTICLE 1 
 DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION 
  

					
	 Section 1.01.
	  	Certain Terms Defined.	  	1
	 Section 1.02.
	  	Forms of Documents Delivered to Trustee	  	14
	 Section 1.03.
	  	Acts of Holders	  	14
	 Section 1.04.
	  	Effect of Headings and Table of Contents	  	15
	 Section 1.05.
	  	Benefits of Indenture	  	15

 ARTICLE 2 
 THE SECURITIES 
  

					
	 Section 2.01.
	  	Form and Dating	  	15
	 Section 2.02.
	  	Execution and Authentication	  	16
	 Section 2.03.
	  	Registrar, Paying Agent, Conversion Agent	  	17
	 Section 2.04.
	  	Paying Agent to Hold Assets in Trust	  	17
	 Section 2.05.
	  	Holder Lists	  	18
	 Section 2.06.
	  	Transfer and Exchange	  	18
	 Section 2.07.
	  	Replacement Securities	  	19
	 Section 2.08.
	  	Outstanding Securities; Determinations of Holders’ Actions	  	20
	 Section 2.09.
	  	Temporary Securities	  	21
	 Section 2.10.
	  	Cancellation	  	21
	 Section 2.11.
	  	Persons Deemed Owners	  	21
	 Section 2.12.
	  	Global Securities.	  	22
	 Section 2.13.
	  	Payment of Interest; Interest Rights Preserved	  	23
	 Section 2.14.
	  	CUSIP Numbers	  	25
	 Section 2.15.
	  	Calculation of Tax Original Issue Discount	  	25

 ARTICLE 3 
 SATISFACTION AND DISCHARGE 
  

					
	 Section 3.01.
	  	Discharge of Liability on Securities	  	26
	 Section 3.02.
	  	Repayment of Moneys Held by Trustee	  	27

 ARTICLE 4 
 DEFAULT AND REMEDIES 
  

					
	 Section 4.01.
	  	Events of Default.	  	27
	 Section 4.02.
	  	Acceleration.	  	29
	 Section 4.03.
	  	Other Remedies	  	30
	 Section 4.04.
	  	Waiver of Past Default	  	30
	 Section 4.05.
	  	Control by Majority	  	30
	 Section 4.06.
	  	Limitation on Suits	  	31
	 Section 4.07.
	  	Rights of Holders to Receive Payment	  	31

					
	 Section 4.08.
	  	Collection Suit by Trustee.	  	31
	 Section 4.09.
	  	Trustee May File Proofs of Claim	  	32
	 Section 4.10.
	  	Priorities	  	32
	 Section 4.11.
	  	Undertaking for Costs	  	33

 ARTICLE 5 
 SUBORDINATION 
  

					
	 Section 5.01.
	  	Agreement to Subordinate	  	33
	 Section 5.02.
	  	Liquidation, Dissolution, Bankruptcy	  	33
	 Section 5.03.
	  	Default on Senior Indebtedness	  	34
	 Section 5.04.
	  	Acceleration of Payment of Securities	  	35
	 Section 5.05.
	  	When Distribution Must be Paid Over	  	35
	 Section 5.06.
	  	Subrogation	  	36
	 Section 5.07.
	  	Relative Rights	  	36
	 Section 5.08.
	  	Subordination May Not be Impaired by Issuer	  	36
	 Section 5.09.
	  	Rights of Trustee and Paying Agent	  	36
	 Section 5.10.
	  	Distribution or Notice to Representative	  	37
	 Section 5.11.
	  	Article Five Not to Prevent Events of Default or Limit Right to Accelerate	  	37
	 Section 5.12.
	  	Trustee Entitled to Rely	  	37
	 Section 5.13.
	  	Trustee to Effectuate Subordination	  	37
	 Section 5.14.
	  	Trustee Not Fiduciary for Holders of Senior Indebtedness	  	37
	 Section 5.15.
	  	Reliance by Holders of Senior Indebtedness on Subordination Provisions	  	38

 ARTICLE 6 
 THE TRUSTEE 
  

					
	 Section 6.01.
	  	Duties of Trustee.	  	38
	 Section 6.02.
	  	Rights of Trustee.	  	39
	 Section 6.03.
	  	Individual Rights of Trustee	  	41
	 Section 6.04.
	  	Trustee’s Disclaimer	  	41
	 Section 6.05.
	  	Notice of Defaults	  	41
	 Section 6.06.
	  	Compensation and Indemnity	  	41
	 Section 6.07.
	  	Replacement of Trustee	  	42
	 Section 6.08.
	  	Successor Trustee by Merger, Etc	  	43
	 Section 6.09.
	  	Eligibility; Disqualification	  	44
	 Section 6.10.
	  	Preferential Collection of Claims Against the Issuer	  	44

 ARTICLE 7 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER 
  

					
	 Section 7.01.
	  	Issuer to Furnish Trustee Information as to Names and Addresses of Holders	  	44
	 Section 7.02.
	  	Preservation of Information; Communications to Holders	  	44
	 Section 7.03.
	  	Reports by Trustee	  	45

 ARTICLE 8 
 CONSOLIDATION, MERGER, SALE OR CONVEYANCE 
  

					
	 Section 8.01.
	  	Consolidations and Mergers of Issuer Permitted Subject to Certain Conditions	  	45
	 Section 8.02.
	  	Rights and Duties of Successor Entity	  	46

 ARTICLE 9 
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
  

					
	 Section 9.01.
	  	Without Consent of Holders	  	46
	 Section 9.02.
	  	With Consent of Holders	  	47
	 Section 9.03.
	  	Compliance with Trust Indenture Act	  	48
	 Section 9.04.
	  	Record Date for Consents and Effect of Consents	  	48
	 Section 9.05.
	  	Notation on or Exchange of Securities	  	48
	 Section 9.06.
	  	Trustee to Sign Amendments, Etc	  	48

 ARTICLE 10 
 COVENANTS OF THE ISSUER 
  

					
	 Section 10.01.
	  	Payment of Principal, Premium and Interest	  	49
	 Section 10.02.
	  	Maintenance of Office or Agency	  	49
	 Section 10.03.
	  	Money for Securities Payments to be Held in Trust	  	50
	 Section 10.04.
	  	Compliance Certificate	  	51
	 Section 10.05.
	  	Calculation of Original Issue Discount	  	51
	 Section 10.06.
	  	Further Instruments and Acts.	  	51
	 Section 10.07.
	  	Statement by Officers as to Default	  	51

 ARTICLE 11 
 REDEMPTION OF SECURITIES 
  

					
	 Section 11.01.
	  	Right to Redeem; Notices to Trustee	  	52
	 Section 11.02.
	  	Selection of Securities to Be Redeemed	  	52
	 Section 11.03.
	  	Notice of Redemption	  	52
	 Section 11.04.
	  	Effect of Notice of Redemption	  	53
	 Section 11.05.
	  	Deposit of Redemption Price	  	54
	 Section 11.06.
	  	Securities Redeemed in Part	  	54
	 Section 11.07.
	  	Conversion Arrangement on Call for Redemption	  	54

 ARTICLE 12 
 CONVERSION 
  

					
	 Section 12.01.
	  	Conversion Rights	  	55
	 Section 12.02.
	  	Conversion Rights Based on Common Stock Price.	  	55
	 Section 12.03.
	  	Conversion Rights Upon Credit Rating Events	  	56
	 Section 12.04.
	  	Conversion Rights Upon Notice of Redemption	  	56
	 Section 12.05.
	  	Conversion Rights Upon Occurrence of Certain Corporate Transactions.	  	56

					
	 Section 12.06.
	  	Conversion Upon Satisfaction of Trading Price Condition.	  	57
	 Section 12.07.
	  	Conversion Procedures; Conversion Settlement	  	58
	 Section 12.08.
	  	Fractional Shares	  	60
	 Section 12.09.
	  	Taxes on Conversion	  	60
	 Section 12.10.
	  	Reservation of Shares, Shares to Be Fully Paid; Compliance with Governmental Requirements; Listing of Common Stock.	  	60
	 Section 12.11.
	  	Adjustment of Conversion Rate	  	61
	 Section 12.12.
	  	Other Adjustments.	  	71
	 Section 12.13.
	  	Notice of Certain Transactions	  	72
	 Section 12.14.
	  	Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege	  	72
	 Section 12.15.
	  	Trustee’s Disclaimer	  	75
	 Section 12.16.
	  	Rights Issued in Respect of Common Stock Issued Upon Conversion	  	75
	 Section 12.17.
	  	Issuer Determination Final	  	76

 ARTICLE 13 
 PURCHASE AT OPTION OF HOLDERS 
  

					
	 Section 13.01.
	  	Right to Require Purchase.	  	76
	 Section 13.02.
	  	Purchase Procedures	  	76
	 Section 13.03.
	  	Effect of Purchase Notice	  	78
	 Section 13.04.
	  	Deposit of Purchase Price	  	79
	 Section 13.05.
	  	Securities Purchased in Part	  	79
	 Section 13.06.
	  	Repayment to the Issuer	  	79

 ARTICLE 14 
 PURCHASE AT OPTION OF HOLDER UPON A FUNDAMENTAL CHANGE 
  

					
	 Section 14.01.
	  	Right to Require Purchase.	  	80
	 Section 14.02.
	  	Effect of Fundamental Change Purchase Notice.	  	82
	 Section 14.03.
	  	Deposit of Fundamental Change Purchase Price	  	83
	 Section 14.04.
	  	Securities Purchased in Part	  	84
	 Section 14.05.
	  	Repayment to the Issuer	  	84

 ARTICLE 15 
 CONTINGENT INTEREST 
  

					
	 Section 15.01.
	  	Contingent Interest	  	84
	 Section 15.02.
	  	Payment of Contingent Interest	  	85
	 Section 15.03.
	  	Notice of Contingent Interest.	  	85

 ARTICLE 16 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS, DIRECTORS AND EMPLOYEES 
  

					
	 SECTION 16.01
	  	Exemption From Individual Liability	  	85

 ARTICLE 17 
 MISCELLANEOUS PROVISIONS 
  

					
	 Section 17.01.
	  	Trust Indenture Act Controls	  	86
	 Section 17.02.
	  	Notices	  	86
	 Section 17.03.
	  	Communications by Holders with Other Holders	  	87
	 Section 17.04.
	  	Certificate and Opinion as to Conditions Precedent	  	87
	 Section 17.05.
	  	Statements Required in Certificate	  	88
	 Section 17.06.
	  	Rules by Trustee, Paying Agent, Conversion Agent Registrar	  	88
	 Section 17.07.
	  	GOVERNING LAW.	  	88
	 Section 17.08.
	  	No Recourse Against Others	  	88
	 Section 17.09.
	  	Successors	  	88
	 Section 17.10.
	  	Counterpart Originals	  	88
	 Section 17.11.
	  	Severability	  	89
	 Section 17.12.
	  	No Adverse Interpretation of Other Agreements	  	89
	 Section 17.13.
	  	Legal Holidays.	  	89

  

	EXHIBIT	A — Form of Global Security 

 INDENTURE, dated as of the 16th day of December, 2004, between GETTY IMAGES, INC., a Delaware corporation (the “Issuer”), and THE BANK OF NEW YORK, a New York banking
corporation (the “Trustee”). 
 WHEREAS, for its lawful corporate purposes, the Issuer deems it necessary to issue its
securities and has duly authorized the execution and delivery of this Indenture to provide for the issuance of its 0.5% Convertible Subordinated Debentures, Series B due 2023 (the “Securities”). 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed by the Issuer and the Trustee, for the equal and proportionate benefit of all Holders of the
Securities, as follows: 
 ARTICLE 1 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.01. Certain Terms Defined. 
 (a) Definitions. 
 “Affiliate” of any specified Person means any other Person which, directly or indirectly, through one or more intermediaries, controls,
or is controlled by, or is under common control with, such Person. For the purposes of this definition, “control” when used with respect to any specified Person means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Agent” means any Registrar, Paying Agent or co-Registrar. 
 “Applicable Conversion Reference
Period” means (i) in respect of a Conversion Date occurring after the date the Securities are called for redemption until (and including) the Redemption Date, the five consecutive Trading Day period beginning on the third Trading Day
following the Redemption Date; or (ii) in all other cases, the five consecutive Trading Day period beginning on the third Trading Day following the Conversion Date. 
 “Applicable Stock Price” means, in respect of a Conversion Date, the average of the Closing Sale Prices per share of Common Stock during the Applicable Conversion Reference Period. 

 “Bankruptcy Law” means Title 11, United States Code or any similar federal, state or
foreign law for the relief of debtors. 
 “Base Conversion Price” means the dollar amount derived by dividing the Principal
Amount by the Base Conversion Rate. 
 “Base Conversion Rate” means 16.3720 shares of Common Stock, subject to adjustment as
set forth in Section 12.11 per $1,000 Principal Amount of Securities. 
 “Board of Directors” means either the
board of directors of the Issuer or any duly authorized committee of such board. 
 “Board Resolution” shall mean a copy of
a resolution certified by the Secretary or an Assistant Secretary of the Issuer to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in The City of New York are
authorized or required by law, regulation or executive order to close. 
 “Capital Stock” means (i) with respect to any
Person that is a corporation, any and all shares, interests, participations or other equivalents (however designated) of capital stock of such Person and (ii) with respect to any Person that is not a corporation, any and all partnership or
other equity interests of such Person. 
 “Capitalized Lease Obligation” means, as to any Person, the obligation of such
Person to pay rent or other amounts under a lease to which such Person is a party that is required to be classified and accounted for as a capital lease obligation under GAAP, and for purposes of this definition, the amount of such obligation at any
date shall be the capitalized amount of such obligation at such date, determined in accordance with GAAP. 
 “Cash
Equivalents” means (i) marketable direct obligations issued by, or unconditionally guaranteed by, the United States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case
maturing within one year from the date of acquisition thereof; (ii) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing
within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s; (iii) commercial paper maturing no more than one year from the date of
creation thereof and, at the time of acquisition, having a rating of at least A-1 from S&P or at least P-1 from Moody’s; (iv) certificates of deposit or bankers’ acceptances maturing within one year from the date of acquisition

  

 2 

 
thereof issued by any commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia or any U.S.
branch of a foreign bank having at the date of acquisition thereof combined capital and surplus of not less than $200,000,000; (v) repurchase obligations with a term of not more than seven days for underlying securities of the types described
in clause (i) above entered into with any bank meeting the qualifications specified in clause (iv) above; and (vi) investments in money market funds that invest substantially all their assets in securities of the types described in
clauses (i) through (v) above. 
 “Change of Control” means the occurrence of one or more of the following events:
(i) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Issuer to any Person or group of related Persons for purposes of Section 13(d) of the
Exchange Act (a “Group”) (whether or not otherwise in compliance with the provisions of this Indenture); or (ii) a majority of the board of directors of the Issuer shall consist of Persons who are not Continuing Directors; or
(iii) the acquisition by any Person or Group of the power, directly or indirectly, to vote or direct the voting of securities having more than 50% of the ordinary voting power for the election of directors of the Issuer. 
 “Closing Sale Price” of the shares of Common Stock on any date means the closing sale price per share (or, if no closing sale price is
reported, the average of the closing bid and ask prices or, if more than one in either case, the average of the average closing bid and the average closing ask prices) on such date as reported on the principal United States securities exchange on
which shares of Common Stock are traded or, if the shares of Common Stock are not listed on a United States national or regional securities exchange, as reported by NASDAQ or by the National Quotation Bureau Incorporated. In the absence of such
quotations, the Issuer shall be entitled to determine the Closing Sale Price on the basis it considers appropriate. The Closing Sale Price shall be determined without reference to extended or after hours trading. 
 “Commission” means the Securities and Exchange Commission. 
 “Commodity Agreement” means any commodity futures contract, commodity option or other similar agreement or arrangement. 
 “Common Stock” shall mean the Getty Common Stock, $0.01 par value, as it exists on the date of this Indenture or any other capital stock
of the Issuer into which such Getty Common Stock shall be reclassified or changed. 
 “Contingent Interest” means such cash
interest payable as described in Article 15. 
 “Continuing Director” means, as of the date of determination, any Person who
(i) was a member of the Board of Directors of the Issuer as of the 
  

 3 

 date of this Indenture or, (ii) was nominated for election or elected to the Board of Directors of the Issuer with
the affirmative vote of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 
 “Conversion Rate” with respect to any Conversion Date prior to June 9, 2008 means: 
 (i) if the Applicable Stock Price (including any Applicable Stock Price determined after June 9, 2008 for new debentures tendered for conversion prior to June 9, 2008) is less than or equal to the Base
Conversion Price, the Base Conversion Rate; or 
 (ii) if the Applicable Stock Price (including any Applicable Stock Price
determined after June 9, 2008 for new debentures tendered for conversion prior to June 9, 2008) is greater than the Base Conversion Price, the number of shares of Common Stock determined in accordance with the following formula:

  

									
	 Base Conversion Rate +
	 	[	 	(Applicable Stock Price – Base Conversion Price)	 	X Incremental Share Factor	 	]
	 	 	Applicable Stock Price	 	 

 Notwithstanding the foregoing, in no event will the Conversion Rate exceed the Maximum Conversion
Rate. From and after June 9, 2008, the Conversion Rate shall be fixed at the Conversion Rate determined as set forth above assuming a Conversion Date that is eight Trading Days prior to June 9, 2008 (the “Fixed Conversion
Rate”), subject to adjustment as set forth in Article 12. 
 “Conversion Value” means, with respect to each $1,000
Principal Amount of Securities tendered for conversion, (a) the Conversion Rate, multiplied by (b) the Applicable Stock Price. 
 “Corporate Trust Office” means the principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 101 Barclay Street, 8W, New York, NY
10286, Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice to the Holders and the Issuer, or the principal corporate trust office of any successor Trustee (or such other address
as a successor Trustee may designate from time to time by notice to the Holders and the Issuer). 
 “Currency Agreement”
means any foreign exchange contract, currency swap agreement or other similar agreement or arrangement. 
 “Custodian” means
any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 
  

 4 

 “Daily Share Amount” means, for each $1,000 Principal Amount of Securities on each
Trading Day in the Applicable Conversion Reference Period, the greater of (i) zero and (ii) a number of shares of Common Stock determined in accordance with the following formula: 
  

									
		  	[	  	(Closing Sale Price on such Trading Day x Conversion Rate) – $1,000	  	]	 	
		  	  	5 x Closing Sale Price on such Trading Day	  	 	

 “Default” means an event or condition the occurrence of which is, or with the
lapse of time or the giving of notice or both would be, an Event of Default. 
 “Depositary” means, with respect to the
Securities issued in the form of one or more Global Securities, The Depository Trust Company or another Person designated as Depositary by the Issuer, which must be a clearing agency registered under the Exchange Act. 
 “Depositary Custodian” means any Person appointed by the Trustee to act as custodian of Global Securities for the Depositary.

 “Designated Senior Indebtedness” means (i) any Senior Indebtedness under the Senior Credit Facilities and
(ii) any other Senior Indebtedness of the Issuer which, at the date of determination, has an aggregate principal amount outstanding of, or under which, at the date of determination, the holders thereof are committed to lend up to, at least
$20,000,000 and is specifically designated by the Issuer in the instrument evidencing or governing such Senior Indebtedness as “Designated Senior Indebtedness” for purposes of this Indenture. 
 “Disqualified Capital Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is convertible or
for which it is exchangeable), or upon the happening of any event, matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is
redeemable at the sole option of the holder thereof (except, in each case, upon the occurrence of a Change of Control), in whole or in part, on or prior to the Stated Maturity Date of the Securities; provided that only the portion of Capital
Stock which so matures or is mandatorily redeemable or is so redeemable at the sole option of the holder thereof prior to June 9, 2023 shall be deemed Disqualified Capital Stock. 
 “Effective Conversion Price” means, as of any date of determination, a dollar amount derived by dividing the Principal Amount by the
Conversion Rate then in effect (assuming a Conversion Date eight Trading Days prior to the date of determination); provided that from and after June 9, 2008 (or if such day is not a Business Day, the immediately succeeding Business Day),
the Effective Conversion Price shall be the Principal Amount as of such date of determination divided by the Fixed Conversion Rate. 
  

 5 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time,
and the rules and regulations of the Commission promulgated thereunder. 
 “Fixed Conversion Rate” has the meaning set forth
in the definition of Conversion Rate. 
 “Fundamental Change” means any transaction or event (whether by means of an
exchange offer, liquidation, tender offer, consolidation, merger, combination, reclassification, recapitalization or otherwise) in connection with which all or substantially all of the Common Stock is exchanged for, converted into, acquired for or
constitutes solely the right to receive consideration which is not all or substantially all Common Stock that: 
 (i) is
listed on, or immediately after the transaction or event will be listed on, a United States national securities exchange, or 
 (ii) is approved, or immediately after the transaction or event will be approved, for quotation on NASDAQ or any similar United States system of automated dissemination of quotations of securities prices. 
 “GAAP” means generally accepted accounting principles in the United States of America as in effect as of the date of this Indenture,
including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or the Commission
or in such other statements by such other entity as approved by a significant segment of the accounting profession. All ratios and computations based on GAAP contained in this Indenture shall be computed in conformity with GAAP. 
 “Global Security” or “Global Securities” means Securities that are in the form of the Securities attached hereto as
Exhibit A. 
 “Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the
ordinary course of business), direct or indirect, in any manner (including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof), of all or any part of any Indebtedness, and
when used as a verb has a correlative meaning. 
 “Holder” means a person in whose name a Security is registered on the
Registrar’s books. 
  

 6 

 “Holding Company” means a company as to which the Issuer is, directly or indirectly, a
Subsidiary. 
 “Incremental Share Factor” means 16.3720 shares of Common Stock, subject to adjustment as set forth in
Article 12. 
 “Indebtedness” means with respect to any Person, without duplication, any liability of such Person
(i) for borrowed money, (ii) evidenced by bonds, debentures, notes or other similar instruments, (iii) constituting Capitalized Lease Obligations, (iv) incurred or assumed as the deferred purchase price of property, or pursuant
to conditional sale obligations and title retention agreements (but excluding trade accounts payable arising in the ordinary course of business), (v) for the reimbursement of any obligor on any letter of credit, banker’s acceptance or
similar credit transaction, (vi) for Indebtedness of others Guaranteed by such Person, (vii) for Interest Swap Agreements, Commodity Agreements and Currency Agreements and (viii) for Indebtedness of any other Person of the type
referred to in clauses (i) through (vii) which is secured by any Lien on any property or asset of such first referred to Person, the amount of such Indebtedness being deemed to be the lesser of the value of such property or asset or the
amount of the Indebtedness so secured. The amount of Indebtedness of any Person at any date shall be (i) the outstanding principal amount of all unconditional obligations described above, as such amount would be reflected on a balance sheet
prepared in accordance with GAAP, and the maximum liability at such date of such Person for any contingent obligations described above, (ii) the accreted value thereof, in the case of any Indebtedness issued with original issue discount, and
(iii) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness. 
 “Indenture” means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed to be a part hereof. 

“Interest Payment Date” means June 9, and December 9 of each year, subject to Section 17.13, commencing June 9,
2005. 
 “Interest Period” means the period from and including the most recent Interest Payment Date to which interest has
been paid or duly made available for payment (or December 16, 2004 if no interest has been paid or been duly made available for payment) to, but excluding, the next succeeding Interest Payment Date, or any earlier Fundamental Change Purchase
Date, Redemption Date or Purchase Date. 
 “Interest Swap Agreements” means any interest rate protection agreement, interest
rate future, interest rate option, interest rate swap, interest rate cap or other interest rate hedge or arrangement. 
  

 7 

 “Issue Date” of any Security means the date on which the Security was originally issued
or deemed issued as set forth on the face of the Security. 
 “Issuer” means the party named as the “Issuer” in
the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any such subsequent successor or
successors. 
 “Issuer Request” or “Issuer Order” means a written request or order signed in the name of
the Issuer by any Officer and delivered to the Trustee. 
 “Lien” means, with respect to any asset, any lien, mortgage, deed
of trust, pledge, security interest, charge or encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof and any agreement to give any security interest). 
 “Maximum Conversion Rate” means 26.2054 shares of Common Stock, subject to adjustment as set forth in Article 12. 
 “Moody’s” means Moody’s Investors Services and its successors. 
 “NASDAQ” means the NASDAQ National Market, Inc. 
 “Obligations” means all obligations for principal, premium, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing, or
otherwise relating to, any Indebtedness. 
 “Officer” means the Chairman of the Board, a Vice Chairman of the Board, the
President, any Vice President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Issuer. 
 “Officers’ Certificate” means a written certificate containing the information specified in Section 17.04, signed in the name
of the Issuer by any two Officers and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion from legal
counsel who is reasonably acceptable to the Trustee and that contains the information specified in Section 17.04. The counsel may be an employee of, or counsel to, the Issuer. 
 “person” or “Person” means any individual, partnership, corporation, limited liability company, unincorporated
organization, trust or joint venture, or a governmental agency or political subdivision thereof. 
 “Predecessor Security”
of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such 

  

 8 

 
particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in exchange for or in lieu of
a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Amount” of a Security means the stated Principal Amount as set forth on the face of such Security. 
 “Qualified Capital Stock” means any Capital Stock that is not Disqualified Capital Stock. 
 “Redemption
Date” means the date specified for redemption of the Securities in accordance with the terms of the Securities and this Indenture, unless such day is not a Business Day, in which case the Redemption Date shall be the immediately following
Business Day. 
 “Redemption Price” means, when used with respect to any Security to be redeemed, 100% of the Principal
Amount of such Security as of the Redemption Date, plus accrued and unpaid interest, including Contingent Interest, if any, to, but excluding, the Redemption Date. 
 “Regular Record Date” for the interest payable on any Interest Payment Date means the June 1 or December 1, as the case may be, immediately preceding such Interest Payment Date. 

“Representative” means the indenture trustee or other trustee, agent or representative in respect of any Senior Indebtedness;
provided, however, that if, and for so long as, any issue of Senior Indebtedness lacks such a representative, then the Representative for such issue of Senior Indebtedness shall at all times constitute the holders of a majority in outstanding
principal amount of such issue of Senior Indebtedness. 
 “Responsible Officer”, when used with respect to the Trustee,
means any officer within the corporate trust department (or any successor group) including without limitation any vice president, any assistant vice president, any trust officer or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above-designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular
subject and who shall have direct responsibility for the administration of this Indenture. 
 “Restricted Subsidiary” means
a Subsidiary of the Issuer other than an Unrestricted Subsidiary and includes all of the Subsidiaries of the Issuer existing as of the date of this Indenture. 
  

 9 

 “S&P” means Standard & Poor’s Ratings Services, a division of the
McGraw-Hill Companies Inc., and its successors. 
 “Securities Act” means the Securities Act of 1933, as amended from time
to time, and the rules and regulations of the Commission promulgated thereunder. 
 “Security Register” means the register
maintained by the Registrar that evidences ownership of the Securities. 
 “Senior Credit Facilities” means the senior
credit facilities evidenced by that certain Credit Agreement dated as of July 19, 2002, among the Issuer, Bank of America, N.A., as Administrative Agent, and the lenders from time to time party to the Credit Agreement, together with all
amendments, modifications, replacements and refinancings thereof. 
 “Senior Indebtedness” means, whether outstanding on the
date of this Indenture or thereafter issued, all Indebtedness of the Issuer, including interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Issuer or any Restricted
Subsidiary whether or not a claim for post-filing interest is allowed in such proceeding) and premium, if any, thereon, and other monetary amounts (including fees, expenses, reimbursement obligations under letters of credit and indemnities) owing in
respect thereof unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that the obligations in respect of such Indebtedness rank pari passu with the Securities; provided,
however, that Senior Indebtedness will not include (1) any obligation of the Issuer to any majority owned Restricted Subsidiary, (2) any Indebtedness, Guarantee or obligation of the Issuer that is expressly subordinate or junior in
right of payment to any other Indebtedness, Guarantee or obligation of the Issuer, including any Subordinated Indebtedness, or (3) obligations in respect of any Capital Stock. 
 “Significant Restricted Subsidiary” means, at any date of determination, any Restricted Subsidiary that would be a “significant
subsidiary” as defined in Article I, Rule 1-02 of Regulation S-X, promulgated under the Securities Act, as such rule is in effect on the date of this Indenture. 
 “Special Record Date” means, for the payment of any Defaulted Interest, the date fixed by the Trustee pursuant to Section 2.13. 
 “Stated Maturity Date” means June 9, 2023. 
 “Subordinated Indebtedness” means the Securities and any other Indebtedness of the Issuer that specifically provides that such Indebtedness is to rank pari passu with, or junior to, the
Securities in right of payment and is subordinated by its terms in right of payment to any Indebtedness or other obligation of the Issuer that is Senior Indebtedness. 
  

 10 

 “Subsidiary” with respect to any Person, means (i) any corporation of which the
outstanding Capital Stock having at least a majority of the votes entitled to be cast in the election of directors under ordinary circumstances shall at the time be owned, directly or indirectly through one or more intermediaries, by such Person or
(ii) any other Person of which at least a majority of the voting interest under ordinary circumstances is at the time, directly or indirectly through one or more intermediaries, owned by such Person. Notwithstanding anything in this Indenture
to the contrary, all references to the Issuer and its consolidated Subsidiaries or to financial information prepared on a consolidated basis in accordance with GAAP shall be deemed to include the Issuer and its Subsidiaries as to which financial
statements are prepared on a combined basis in accordance with GAAP and to financial information prepared on such a combined basis. Notwithstanding anything in this Indenture to the contrary, an Unrestricted Subsidiary shall not be deemed to be a
Restricted Subsidiary for purposes of this Indenture. 
 “Tax Original Issue Discount” means the amount of ordinary interest
income on a Security that must be accrued as original issue discount for United States Federal income tax purposes pursuant to Treasury Regulation Section 1.1275-4 or any successor provision. 
 “TIA” means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, provided, however, that in the
event the TIA is amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 
 “Trading
Day” means a day during which trading in securities generally occurs on the New York Stock Exchange or, if the Common Stock is not listed on the New York Stock Exchange, on the principal other national or regional securities exchange on
which the Common Stock is then listed or, if the Common Stock is not listed on a national or regional securities exchange, by NASDAQ or, if the Common Stock is not quoted by NASDAQ, on the principal other market on which the Common Stock is then
traded. 
 “Trading Price” means, on any date, the average of the secondary market bid quotations per $1,000 Principal
Amount of the Securities obtained by the Issuer or a quotation agent appointed by the Issuer for $5,000,000 Principal Amount of Securities at approximately 3:30 p.m., New York City time, on such date from three independent nationally recognized
securities dealers selected by the Issuer; provided that if at least three such bids cannot reasonably be obtained by the Issuer or such agent, but two 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 Issuer or such agent, one bid shall be used; and provided further that if the Issuer or such agent cannot reasonably obtain at least one bid for $5,000,000 

  

 11 

 
Principal Amount of Securities from a nationally recognized securities dealer or in the Issuer’s reasonable judgment, the bid quotations are not
indicative of the secondary market value of the Securities, then the Trading Price per $1,000 Principal Amount of Securities on such date shall be deemed to be less than 95% of the product of (a) the Conversion Rate on such date (determined
using the Closing Sale Price on such date rather than the Applicable Stock Price) and (b) the Closing Sale Price on such date. 
 “Trustee” means the party named as the “Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such
successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 
 “Unrestricted
Subsidiary” means a Subsidiary of the Issuer so designated by a resolution adopted by the Board of Directors of the Issuer; provided, however, that (a) neither the Issuer nor any of its other Restricted Subsidiaries
(1) provides any credit support for any Indebtedness or other Obligations of such Subsidiary (including any undertaking, agreement or instrument evidencing such Indebtedness) or (2) is directly or indirectly liable for any Indebtedness or
other Obligations of such Subsidiary and (b) at the time of designation of such Subsidiary, such Subsidiary has no property or assets (other than de minimis assets resulting from the initial capitalization of such Subsidiary). The Board
of Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, that immediately after giving effect to such designation no Default or Event of Default shall have occurred or be continuing. Any
designation pursuant to this definition by the Board of Directors of the Issuer shall be evidenced to the Trustee by the filing with the Trustee of a certified copy of the resolution of the Issuer’s Board of Directors giving effect to such
designation and an Officers’ Certificate certifying that such designation complies with the foregoing conditions. 
 “U.S.
Government Obligations” means direct obligations (or certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full
faith and credit of the United States of America is pledged and which are not callable or redeemable at the issuer’s option. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing (a) the then outstanding aggregate principal amount of such Indebtedness into
(b) the total of the product obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payment of principal, including payment at final maturity, in respect thereof, by
(ii) the number of years (calculated to the nearest one-twelfth) which will elapse between such date and the making of such payment. 
  

 12 

 (b) Other Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “Acceleration Notice”
	  	4.02
	 “Act”
	  	1.03
	 “Adjustment Event”
	  	12.11(n)
	 “Agent Members”
	  	2.12(f)
	 “Blockage Notice”
	  	5.03
	 “Conversion Agent”
	  	2.03
	 “Conversion Date”
	  	12.07
	 “Conversion Notice”
	  	12.07
	 “Current Market Price”
	  	12.11(j)(i)
	 “Defaulted Interest”
	  	2.13
	 “Determination Date”
	  	12.11(n)
	 “Distributed Property”
	  	12.11(d)
	 “Ex-Dividend Date”
	  	12.11(g)
	 “Ex-Dividend Time”
	  	12.05
	 “Expiration Time”
	  	12.11(f)
	 “Event of Default”
	  	4.01
	 “Exchange Property”
	  	12.14(b)
	 “Exchange Property Value”
	  	12.14(c)
	 “Exchange Property Weighted Average Price”
	  	12.14(c)
	 “Fair Market Value”
	  	12.11(j)(ii)
	 “Fundamental Change Purchase Date”
	  	14.01(a)
	 “Fundamental Change Purchase Notice”
	  	14.01(c)
	 “Fundamental Change Purchase Price”
	  	14.01(a)
	 “Net Exchange Property Amount”
	  	12.14(d)(ii)
	 “Net Shares”
	  	12.07
	 “non-electing share”
	  	12.14(b)
	 “pay the Securities”
	  	5.03
	 “Paying Agent”
	  	2.03(a)
	 “Payment Blockage Period”
	  	5.03
	 “Principal Return”
	  	12.07
	 “Principal Value Conversion”
	  	12.06(b)
	 “Purchase Date”
	  	13.01(a)
	 “Purchased Shares”
	  	12.11(f)(i)
	 “Purchase Notice”
	  	13.02(a)
	 “Purchase Price”
	  	13.02
	 “Record Date”
	  	12.11(j)(iii)
	 “Registrar”
	  	2.03(a)
	 ‘Reference Market Price
	  	12.11(j)(iv)
	 “Rights”
	  	12.16
	 “Rights Agreement”
	  	12.16
	 “Trigger Event”
	  	12.11(d)

  

 13 

 Section 1.02. Forms of Documents Delivered to Trustee. In any case where several
matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by
only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several
documents. 
 Any certificate or opinion of an officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate
or opinion of, or representations by, counsel, unless such officer actually knows that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or
Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Issuer stating that the information with respect to such factual matters is in the
possession of the Issuer, unless such counsel knows, or in the exercise of reasonable care (but without having made an investigation specifically for the purpose of rendering such opinion) should know, that the certificate or opinion or
representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 1.03. Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Indenture and (subject to Section 6.01) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. 
 (b) The fact and date of the execution by any Person of any such instrument or writing may be proved in any manner which the Trustee deems sufficient.

 (c) The ownership of Securities shall be proved by the Security Register. 
  

 14 

 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of
any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done
by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Security. 
 (e) The Issuer may,
but shall not be obligated to, set a record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture. If a record date is fixed, those persons
who were Holders of Securities at such record date (or their duly designated proxies), and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such persons
continue to be Holders after such record date. No action approved by such vote or consent shall be taken more than six months after such record date. 
 Section 1.04. Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

 Section 1.05. Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to
any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 ARTICLE 2 
 THE SECURITIES 
 Section 2.01. Form and Dating. The Securities and the Trustee’s certificate of authentication thereof shall be substantially in
the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage. The Issuer and the Trustee shall
approve the form of the Securities and any notation, legend or endorsement on them. Each Security shall be dated the date of its issuance and shall show the date of its authentication. 
 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 Principal Amount of outstanding Securities from time to time endorsed thereon and that the aggregate Principal Amount of outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect
exchanges, redemptions, purchases or conversions of such Securities. Any endorsement of a Global Security to reflect the amount of any 
  

 15 

 increase or decrease in the Principal Amount of outstanding Securities represented thereby shall be made by the Trustee
or Depositary Custodian in accordance with the standing instructions and procedures existing between the Depositary and the Trustee or Depositary Custodian. 
 Certificated Securities shall be issued only under the limited circumstances provided in Section 2.12(b) hereof. 
 Section 2.02. Execution and Authentication. (a) One or more Officers shall sign (each of whom shall, in each case, have been duly authorized by all requisite corporate actions) the Securities
for the Issuer by manual or facsimile signature. 
 (b) If an Officer whose signature is on a Security was an Officer at the time of such
execution but no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 (c) 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. 
 (d) The Trustee shall authenticate Securities for original issue in an aggregate Principal Amount not to exceed such written
order as shall specify the amount of Securities to be authenticated and the date on which the Securities are to be authenticated and specifying such other information as the Trustee may reasonably request. The aggregate Principal Amount of
Securities outstanding at any time may not exceed $265,000,000; provided, however, that the $2,000,000 aggregate Principal Amount of Securities not outstanding as of the date hereof may only be issued in exchange, in reliance on
Section 3(a)(9) of the Securities Act or any other provision under the Securities Act such that the Securities issued shall be fully fungible with the Securities previously issued and authenticated and without any restrictions upon transfer
under the Securities Act, for the Issuer’s 0.5% Convertible Subordinated Debentures due 2023. 
 (e) Notwithstanding the foregoing, all
Securities issued under this Indenture shall vote and consent together on all matters (as to which any of such Securities may vote or consent) as one class and no series of Securities will have the right to vote or consent as a separate class on any
matter. 
 (f) The Trustee may appoint an authenticating agent reasonably acceptable to the Issuer to authenticate Securities. Unless
otherwise provided in the appointment, 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 Issuer and Affiliates of the Issuer. 
  

 16 

 (g) The Securities shall be issuable only in registered form without coupons in denominations of $1,000
and any integral multiple thereof. 
 Section 2.03. Registrar, Paying Agent, Conversion Agent. (a) The Issuer shall
maintain an office or agency, which may be in the Borough of Manhattan, The City of New York, where (i) Securities may be presented or surrendered for registration of transfer or for exchange (the “Registrar”),
(ii) Securities may be presented or surrendered for payment (the “Paying Agent”), (iii) Securities may be presented for conversion (the “Conversion Agent”) and (iv) notices and demands in respect of
the Securities and this Indenture may be served. The Registrar shall keep a register of the Securities and of their transfer and exchange. The Issuer, upon notice to the Trustee, may appoint one or more co-Registrars and one or more additional
Paying Agents. The term “Paying Agent” includes any additional Paying Agent. Except as provided herein, the Issuer may act as Paying Agent, Registrar or co-Registrar. 
 (b) The Issuer shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, which shall incorporate the provisions of
the TIA. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee of the name and address of any such Agent. If the Issuer fails to maintain a Registrar or Paying Agent, or fails
to give the foregoing notice, the Trustee shall act as such and shall be entitled to appropriate compensation in accordance with Section 6.06. 
 (c) The Issuer initially appoints the Trustee as Registrar, Conversion Agent and Paying Agent until such time as the Trustee has resigned or a successor has been appointed. 
 Section 2.04. Paying Agent to Hold Assets in Trust. (a) The Issuer shall require each Paying Agent other than the Trustee to
agree in writing that each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal (including the Principal Return, the Net Shares, if any, and premium, if any, upon
conversion) or interest, including Contingent Interest, if any, on the Securities, and shall notify the Trustee of any Default by the Issuer in making any such payment. The Issuer at any time may require a Paying Agent to distribute all assets held
by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the
Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuer to the Paying Agent (if other than the Issuer), the Paying Agent shall have no further liability for such
assets. If the Issuer or any of its Affiliates acts as Paying Agent, it shall, on or before each due date of the principal (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion) or interest, including
Contingent Interest, if any, on the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to the principal (including 
  

 17 

 the Principal Return, the Net Shares, if any, and premium, if any, upon conversion) or interest, including Contingent
Interest, if any, on so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Section 2.05. Holder Lists. 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 Holders. If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee before each Interest Record Date and at such other times as the Trustee may request in writing a list as of such date
and in such form as the Trustee may reasonably require of the names and addresses of Holders, which list may be conclusively relied upon by the Trustee. 
 Section 2.06. Transfer and Exchange. (a) Subject to Section 2.12 hereof, upon surrender for registration of transfer of any Security, together with a written instrument of transfer
satisfactory to the Registrar duly executed by the Holder or such Holder’s attorney duly authorized in writing, at the office or agency of the Issuer designated as Registrar or co-registrar pursuant to Section 2.03, the Issuer shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of any authorized denomination or denominations, of a like aggregate Principal Amount. The Issuer shall not
charge a service charge for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges that may be imposed in connection with the transfer or exchange
of the Securities from the Holder requesting such transfer or exchange. 
 The Issuer shall not be required to make, and the Registrar need
not register, transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or any Securities in respect of which a Purchase Notice or Fundamental
Change Purchase Notice has been given and not withdrawn by the Holder thereof in accordance with the terms of this Indenture (except, in the case of Securities to be purchased in part, the portion thereof not to be purchased) or any Securities for a
period of 15 days before the mailing of a notice of redemption of Securities to be redeemed. 
 (b) Notwithstanding any provision to the
contrary herein, so long as a Global Security remains outstanding and is held by or on behalf of the Depositary, transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.12 and this
Section 2.06(b). Transfers of a Global Security shall be limited to transfers of such Global Security in whole, or in part, to nominees of the Depositary or to a successor of the Depositary or such successor’s nominee. 
  

 18 

 (c) Successive registrations and registrations of transfers and exchanges as aforesaid may be made from
time to time as desired, and each such registration shall be noted on the register for the Securities. 
 (d) Any Registrar appointed
pursuant to Section 2.03 hereof 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. 
 (e) No Registrar shall be required to make registrations of transfer or exchange of Securities during any periods designated in the text of the
Securities or in this Indenture as periods during which such registration of transfers and exchanges need not be made. 
 (f) Nothing in this
Indenture or in the Securities shall prohibit the sale or other transfer of any Securities (including beneficial interests in Global Securities) to the Issuer or any of its Subsidiaries, which Securities shall thereupon be canceled in accordance
with Section 2.10 of this Indenture. 
 (g) 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 (as defined below) or 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 when expressly required by, the terms of this Indenture (including, without
limitation, the obligations and duties of the Trustee set forth in Section 2.06 hereof), and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 Section 2.07. Replacement Securities. If (a) any mutilated Security is surrendered to the Trustee, or (b) the Issuer and the
Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Issuer and the Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the
absence of notice to the Issuer or the Trustee that such Security has been acquired by a bona fide purchaser, the Issuer 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 purchased by the Issuer pursuant to Articles 13 or 14 hereof, the Issuer in its
discretion may, instead of issuing a new Security, pay or purchase such Security, as the case may be. 
  

 19 

 Upon the issuance of any new Securities under this Section, the Issuer may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Issuer, 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 are exclusive and shall preclude (to the extent lawful) all other
rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.08. Outstanding Securities; Determinations of Holders’ Actions. Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it
for cancellation, those delivered to it pursuant to Section 2.07 and those described in this Section 2.08 as not outstanding. A Security does not cease to be outstanding because the Issuer or an Affiliate thereof holds the Security;
provided, however, that in determining whether the Holders of the requisite Principal Amount of Securities have given or concurred in any request, demand, authorization, direction, notice, consent or waiver hereunder, Securities owned by the
Issuer or any other obligor upon the Securities or any Affiliate of the Issuer or such other obligor shall be disregarded and deemed not to be outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time
of such determination shall be considered in any such determination (including, without limitation, determinations pursuant to Articles 4 and 6). 
 If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
 If the Paying Agent holds, in accordance with this Indenture, on a Redemption Date, or on the Business Day following a Purchase Date or a Fundamental
Change Purchase Date, or on the Stated Maturity Date, money or securities, if permitted hereunder, sufficient to pay Securities payable on that date, then immediately after such Redemption Date, Purchase Date, Fundamental Change Purchase Date or
Stated Maturity Date, as the case may be, such Securities shall cease to be outstanding and interest, including Contingent Interest, if any, on such Securities shall cease to accrue; provided, that if such Securities are to be redeemed,
notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made. 
  

 20 

 If a Security is converted in accordance with Article 12, then from and after the time of conversion on
the Conversion Date, such Security shall cease to be outstanding (other than the right to receive the Principal Return and the Net Shares, if any, upon conversion) and interest, including Contingent Interest, if any, shall cease to accrue on such
Security. 
 Section 2.09. Temporary Securities. Pending the preparation of definitive Securities, the Issuer may execute,
and upon Issuer Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities.

 If temporary Securities are issued, the Issuer will cause definitive Securities to be prepared without unreasonable delay. After the
preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Issuer designated for such purpose pursuant to
Section 2.03, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like Principal Amount of
definitive Securities of authorized denominations. Until so exchanged the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
 Section 2.10. Cancellation. All Securities surrendered for payment, purchase by the Issuer pursuant to Article 13 or Article 14,
conversion pursuant to Article 12, redemption or registration of transfer or exchange shall, if surrendered to any person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by it. The Issuer may at any time deliver to
the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly canceled by the Trustee. The Issuer may not
issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article 12. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled
as provided in this Section, except as expressly permitted by this Indenture. All canceled Securities held by the Trustee shall be disposed of by the Trustee in accordance with its customary practice. 
 Section 2.11. Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Issuer, the Trustee and
any agent of the 
  

 21 

 Issuer or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for
the purpose of receiving payment of any Redemption Price, Purchase Price or Fundamental Change Purchase Price in respect thereof, principal (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion) or interest,
including Contingent Interest, if any, for the purpose of conversion and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Issuer, the Trustee nor any agent of the Issuer or the Trustee shall be affected by
notice to the contrary. 
 Section 2.12. Global Securities. 
 (a) 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 Section 2.06 and this Section 2.12. 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 this clause (a) 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 unless and until such Security has been registered in the name of such Person. 
 (b) 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 Securities registered in the names of any person designated by the Depositary in the event that (i) the Depositary has notified the Issuer that it is unwilling or unable to continue as Depositary for such
Global Security and a successor Depositary is not appointed by the Issuer within 90 days, (ii) the Issuer decides to discontinue the use of the system of book-entry transfer through the Depositary (or any successor Depositary) or (iii) an
Event of Default has occurred and is continuing with respect to the Securities. Any Global Security exchanged pursuant to clause (i) above shall be so exchanged in whole and not in part, and any Global Security exchanged pursuant to clause
(iii) 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. 
 (c)
Securities issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully registered 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. Any Global Security to be exchanged in whole shall be surrendered by the Depositary 
  

 22 

 to the Trustee or the 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 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. 
 (d) Subject to the provisions of Section 2.12(f) below, the registered Holder may grant proxies
and otherwise authorize any Person, including Agent Members (as defined below) 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. 
 (e) In the event of the occurrence of any of the events specified in Section 2.12(b) above, the Issuer will promptly make available to the Trustee a
reasonable supply of certificated Securities in definitive, fully registered form, without interest coupons. 
 (f) Neither any members of,
or participants in, the Depositary (collectively, the “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 Issuer, the Trustee and any agent of the Issuer 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 Issuer or the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, 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. 
 Section 2.13. Payment of Interest; Interest
Rights Preserved. Interest, including Contingent Interest, if any, on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, including Contingent Interest, if any, at the office or agency of the Issuer maintained for such purpose pursuant to Section 10.02.
However, the Issuer may make such interest payments by check payable to or upon the written order of the Person entitled thereto pursuant to Section 17.03, to the address of such Person as it appears on the Security Register; provided
that payment by wire transfer of immediately available funds will be required with respect to 
  

 23 

 principal of (including payment of the Principal Return, upon conversion), or interest, including Contingent Interest, if
any, on all Global Securities and all Securities of Holders of more than $25,000,000 aggregate Principal Amount of Securities that have requested such method of payment and provided wire transfer instructions to the Issuer or the Paying Agent.

 Any interest or Contingent Interest on any Security of which is payable but is not punctually paid or duly provided for on any Interest
Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Issuer, at
its election in each case, as provided in clause (a) or (b) below: 
 (a) The Issuer may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities (or Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer
shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest 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 Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest 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 Trustee shall promptly notify the Issuer of such Special Record Date and, in the name and at the expense
of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities at his address as it appears in the Security Register,
not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Securities (or Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 
 (b) The Issuer may make payment of any Defaulted Interest on the Securities in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall
be deemed practicable by the Trustee. 
  

 24 

 On conversion of a Holder’s Securities, such Holder shall not receive any cash payment of interest.
Except as set forth in the next succeeding paragraph, the Issuer’s delivery to a Holder of the Principal Return and the full number of shares of Common Stock constituting the Net Shares, if any, together with any cash payment for such
Holder’s fractional shares, or cash or a combination of cash and Common Stock in lieu thereof, shall be deemed to satisfy the Issuer’s obligation to pay the Principal Amount of the Security and to satisfy the Issuer’s obligation to
pay accrued but unpaid interest, including Contingent Interest, if any, attributable to the period from the most recent Interest Payment Date through the Conversion Date. 
 Notwithstanding the above, if any Securities are converted during the period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on the
Business Day immediately preceding such Interest Payment Date, such Securities shall be accompanied by payment to the Issuer or its order, in New York Clearing House funds or other funds acceptable to the Issuer, of an amount equal to the interest,
including Contingent Interest, if any, payable on such Interest Payment Date with respect to the Principal Amount of Securities or portions thereof being surrendered for conversion; provided that no such payment need be made (1) if the
Issuer has specified a Redemption Date under Article 11 that occurs during the period from the close of business on a Regular Record Date to the close of business on the Business Day immediately preceding the Interest Payment Date to which such
Regular Record Date relates, (2) if the Issuer has specified a Fundamental Change Purchase Date during such period or (3) to the extent of overdue interest or overdue Contingent Interest, any overdue interest or overdue Contingent Interest
exists on the Conversion Date with respect to the Securities converted. 
 Subject to the foregoing provisions of this Section, each Security
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest, including Contingent Interest, if any, accrued and unpaid, and to accrue, that were carried by
such other Security. 
 Section 2.14. CUSIP Numbers. The Issuer in issuing the Securities may use “CUSIP”
numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption 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 of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by
any defect in or omission of such numbers. The Issuer will promptly notify the Trustee of any change in the CUSIP numbers. 
 Section 2.15. Calculation of Tax Original Issue Discount. The Issuer agrees, and by acceptance of a beneficial interest in a Security each Holder and 
  

 25 

 any beneficial owner of a Security shall be deemed to agree, for United States federal income tax purposes, (i) to
treat the Securities as debt instruments that are subject to Treasury Regulation Section 1.1275-4(b), and to treat the cash and the fair market value of any Common Stock received upon the conversion of a Security as a contingent payment within
the meaning of Treasury Regulation Section 1.1275-4(b); (ii) to treat the exchange of the Securities, for the 0.5% Convertible Subordinated Debentures due 2023 that were issued by the Issuer on June 9, 2003 (the “Outstanding
Debentures”) as not constituting a “significant modification” of the Outstanding Debentures within the meaning of Treasury Regulation Section 1.1001-3(e); and (iii) to accrue interest with respect to outstanding Securities
as original issue discount (i.e., Tax Original Issue Discount) according to the “noncontingent bond method “ set forth in Treasury Regulation Section 1.1275-4(b), in the same manner and amounts as were applicable to the Outstanding
Debentures, using the comparable yield of 9.25% compounded semi-annually based on an issue price of $1,000 on June 9, 2003 and using the projected payment schedule determined by the Issuer. Holders or beneficial owners may obtain a copy of the
projected payment schedule by contacting the Issuer: Getty Images, Inc., 601 N 34th Street, Seattle, Washington
98103, Attention: Treasurer. 
 The Issuer acknowledges and agrees, and by acceptance of a beneficial interest in a Security each Holder and
any beneficial owner of a Security shall be deemed to acknowledge and agree, that (i) the comparable yield means the annual yield the Issuer would pay, as of the Issue Date, on a noncontingent, non-convertible, fixed-rate debt instrument with
terms and conditions otherwise similar to those of the Securities and (ii) the comparable yield and the schedule of projected payments that a Holder or beneficial owner may obtain as described above do not constitute a representation by the
Issuer regarding the actual amounts that will be paid on the Securities or the value of the Common Stock into which the Securities may be converted. 
 ARTICLE 3 
 SATISFACTION AND DISCHARGE 
 Section 3.01. Discharge of Liability on Securities. When (i) the Issuer delivers to the Trustee or any Paying Agent all
outstanding Securities (other than Securities replaced pursuant to Section 2.07 of the Indenture) for cancellation or (ii) all outstanding Securities have become due and payable, whether on the Stated Maturity Date, any Redemption Date,
any Purchase Date, any Fundamental Change Purchase Date, or upon conversion or otherwise, and the Issuer deposits with the Trustee, any Paying Agent or the Conversion Agent, if applicable, cash or, if expressly permitted by the terms of the
Securities, Common Stock sufficient to pay all amounts due and owing on all outstanding Securities (other than Securities replaced pursuant to Section 2.07), and if in either case the Issuer pays all other sums payable hereunder by the Issuer,
then 
  

 26 

 this Indenture shall, subject to Section 6.06, cease to be of further effect, except for the indemnification of the
Trustee, which shall survive such satisfaction and discharge. The Trustee shall join in the execution of a document prepared by the Issuer acknowledging satisfaction and discharge of this Indenture on demand of the Issuer accompanied by an
Officers’ Certificate and Opinion of Counsel and at the reasonable cost and expense of the Issuer. 
 Section 3.02.
Repayment of Moneys Held by Trustee. The Trustee and the Paying Agent shall return to the Issuer any cash that remains unclaimed for two years after the date upon which the principal of (including the Principal Return, the Net Shares, if any,
and premium, if any, upon conversion), or interest, including Contingent Interest, if any, on such Security shall have become due and payable, subject to applicable unclaimed property law, together with interest, if any, thereon held by them for the
payment of the principal of (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion), or interest, including Contingent Interest, if any, on such Security, provided, however, that to the extent that the
aggregate amount of cash or Common Stock deposited by the Issuer exceeds the aggregate principal (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion), or interest, including Contingent Interest, if any, due
on the Securities or portions thereof which the Issuer is obligated to purchase as of the relevant date, then promptly after the Business Day following such date, the Trustee or the Paying Agent, as applicable, shall return any such excess to the
Issuer. Thereafter, any Holder entitled to payment must look to the Issuer for payment as general creditors, unless an applicable abandoned property law designates another Person. 
 ARTICLE 4 
 DEFAULT AND REMEDIES 

Section 4.01. Events of Default. Each of the following shall be an “Event of Default” for purposes of this
Indenture: 
 (a) the failure to pay interest, including Contingent Interest, if any, on any Security when the same becomes due and payable
and the Default continues for a period of 30 days (whether or not such payment is prohibited by Article 5); 
 (b) the failure to pay
principal of any Security when such principal becomes due and payable, at maturity, upon redemption, repurchase, a Fundamental Change or otherwise (whether or not such payment is prohibited by Article 5); 
 (c) the failure to pay the Principal Return or premium, if any, or deliver the Net Shares (and cash in lieu of fractional Shares), in each case when due
(whether or not such payment is prohibited by Article 5); 
  

 27 

 (d) a default in the observance or performance of any other covenant or agreement contained in the
Securities or this Indenture, which default continues for a period of 60 consecutive days after the Issuer receives written notice thereof specifying the default from the Trustee or Holders of at least 25% in aggregate Principal Amount of
outstanding Securities; 
 (e) the failure to pay at the final stated maturity (giving effect to any extensions thereof) the principal amount
of any Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer, or the acceleration of the final stated maturity of any such Indebtedness, if the aggregate principal amount of such Indebtedness, together with the aggregate principal
amount of any other such Indebtedness in default for failure to pay principal at the final stated maturity (giving effect to any extensions thereof) or which has been accelerated, aggregates $20,000,000 or more at any time, in each case after a
10-day period during which such default shall not have been cured or such acceleration rescinded; 
 (f) one or more judgments in an
aggregate amount in excess of $25,000,000 (which are not covered by insurance as to which the insurer has not disclaimed coverage or which are not, in the good faith judgment of the Board of Directors, subject to third party indemnification) being
rendered against the Issuer or any of its Significant Restricted Subsidiaries and such judgment or judgments remain undischarged or unstayed for a period of 60 days after such judgment or judgments become final and nonappealable; 
 (g) the Issuer or any of its Significant Restricted Subsidiaries (or one or more Restricted Subsidiaries that, taken together would constitute a
Significant Restricted Subsidiary) of the Issuer pursuant to or within the meaning of any Bankruptcy Law: (i) admits in writing its inability to pay its debts generally as they become due; (ii) commences a voluntary case or proceeding;
(iii) consents to the entry of an order for relief against it in an involuntary case or proceeding; (iv) consents or acquiesces in the institution of a bankruptcy or insolvency proceeding against it; (v) consents to the appointment of
a Custodian of it or for all or substantially all of its property; or vi) makes a general assignment for the benefit of its creditors, or any of them takes any action to authorize or effect any of the foregoing; or 
 (h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: (i) is for relief against the Issuer or any
Significant Restricted Subsidiary (or one or more Restricted Subsidiaries that, taken together would constitute a Significant Restricted Subsidiary) of the Issuer in an involuntary case or proceeding; (ii) appoints a Custodian of the Issuer or
any Significant Restricted Subsidiary (or one or more Restricted Subsidiaries that, taken together would constitute a Significant Restricted Subsidiary) of the Issuer for all or substantially all of its property; or (iii) orders the liquidation
of the Issuer or any Significant Restricted Subsidiary (or one or more Restricted Subsidiaries that, taken together would constitute a Significant Restricted 
  

 28 

 Subsidiary) of the Issuer; and in each case the order or decree remains unstayed and in effect for 60 days; provided,
however, that if the entry of such order or decree is appealed and dismissed on appeal, then the Event of Default hereunder by reason of the entry of such order or decree shall be deemed to have been cured. 
 Section 4.02. Acceleration. If an Event of Default with respect to the Securities (other than an Event of Default specified in
Section 4.01(g) or 4.01(h)) occurs and is continuing, the Trustee may, or the Trustee upon the request of Holders of 25% in Principal Amount of the outstanding Securities shall, or the Holders of at least 25% in aggregate Principal Amount of
the outstanding Securities may declare the principal of all the Securities, together with all accrued and unpaid interest, including Contingent Interest, if any, and premium, if any, to be due and payable by notice in writing to the Issuer and the
Trustee specifying the respective Event of Default and that it is a “notice of acceleration” (the “Acceleration Notice”), and the same shall become immediately due and payable. 
 If an Event of Default specified in Section 4.01(g) or 4.01(h) occurs, all unpaid principal of and accrued interest, including Contingent Interest,
if any, and premium, if any, on all outstanding Securities shall ipso facto become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 At any time after such declaration with respect to the Securities, the Holders of a majority in Principal Amount of Securities then outstanding (by
notice to the Trustee) may rescind and cancel such declaration and its consequences if (i) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction, (ii) all existing Defaults and Events of Default
have been cured or waived except nonpayment of principal of, or interest, including Contingent Interest, if any, on the Securities that has become due solely by such declaration of acceleration, (iii) to the extent the payment of such interest
is lawful, interest (at the same rate specified in the Securities) on overdue installments of interest, including Contingent Interest, if any, and overdue payments of principal, which has become due otherwise than by such declaration of acceleration
has been paid, (iv) the Issuer has paid the Trustee its reasonable compensation and reimbursed the Trustee for its reasonable expenses, disbursements and advances and (v) in the event of the cure or waiver of a Default or Event of Default
of the type described in Section 4.01(g) or 4.01(h), the Trustee has received an Officers’ Certificate and Opinion of Counsel that such Default or Event of Default has been cured or waived. The Holders of a majority in Principal Amount of
the Securities may waive any existing Default or Event of Default under this Indenture, and its consequences, except a default in the payment of principal of (including the Principal Return, the Net Shares, if any, and premium, if any, upon
conversion), or interest, including Contingent Interest, if any, on any Securities. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
  

 29 

 Section 4.03. Other Remedies. If an Event of Default occurs and is continuing, the
Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion), or interest, including Contingent
Interest, if any, 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 maturing 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 4.04. Waiver of Past Default. Subject to Section 4.07, prior to the declaration of acceleration of the Securities, the
Holders of not less than a majority in aggregate Principal Amount of the outstanding Securities by written notice to the Trustee may waive an existing Default or Event of Default and its consequences, except a Default in the payment of principal of
(including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on any Security as specified in Section 4.01(a), (b) and (c) or a Default in
respect of any term or provision of this Indenture that may not be amended or modified without the consent of each Holder affected as provided in Section 9.02. The Issuer shall deliver to the Trustee an Officers’ Certificate stating that
the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the Issuer, the Trustee and the Holders shall be restored to their former positions and rights hereunder and under
the Securities, respectively. This paragraph of this Section 4.04 shall be in lieu of § 316(a)(1)(B) of the TIA and such § 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Securities, as
permitted by the TIA. 
 Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred,
and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred for every purpose of this Indenture and the Securities, but no such waiver shall extend to any subsequent or other Default or Event of Default or
impair any right consequent thereon. 
 Section 4.05. Control by Majority. Subject to Section 2.08, the Holders of a
majority in 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 exercising any trust or power conferred on it. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly prejudicial to the rights of 
  

 30 

 another Holder, it being understood that the Trustee shall have no duty (subject to Section 6.01) to ascertain
whether or not such actions or forebearances are unduly prejudicial to such Holders, or that may involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee which is
not inconsistent with such direction. In the event the Trustee takes any action or follows any direction pursuant to this Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against any loss or
expense caused by taking such action or following such direction. This Section 4.05 shall be in lieu of § 316(a)(1)(A) of the TIA, and such § 316(a)(1)(A) of the TIA is hereby expressly excluded from this Indenture and the
Securities, as permitted by the TIA. 
 Section 4.06. Limitation on Suits. A Holder may not pursue any remedy with respect
to this Indenture or the Securities unless: 
 (a) the Holder gives to the Trustee written notice of a continuing Event of Default;

 (b) the Holders of at least 25% in aggregate Principal Amount of the outstanding Securities make a written request to the Trustee to
pursue a remedy; 
 (c) such Holder or Holders offer and, if requested, provide to the Trustee indemnity satisfactory to the Trustee against
any loss, liability or expense; 
 (d) the Trustee does not comply with the request within 60 days after receipt of the request and the offer
and, if requested, the provision of indemnity; and 
 (e) during such 60-day period the Holders of a majority in Principal Amount of the
outstanding Securities do not give the Trustee a direction which, in the opinion of the Trustee, is inconsistent with the request. 
 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 4.07. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of (including payment of the Principal Return, the Net
Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on a Security, on or after the respective due dates expressed in the Security, or to bring suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 Section 4.08. Collection
Suit by Trustee. If an Event of Default in payment of principal of (including payment of the Principal Return, the Net 
  

 31 

 Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on a Security
specified in Section 4.01(a), (b) or (c) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Securities for the whole amount of
principal (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), and interest, including Contingent Interest, if any, remaining unpaid, together with interest overdue on principal and to the extent
that payment of such interest is lawful, interest 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 4.09. 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 Issuer (or any other obligor upon the Securities), its creditors or its
property and shall be entitled and empowered to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceedings 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 agent and counsel, and any other amounts due the Trustee under Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the 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; provided,
however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and may be a member of the creditors’ committee. 
 Section 4.10. Priorities. If the Trustee collects any money or property pursuant to this Article 4, it shall pay out the money or
property in the following order: 
 First: to the Trustee for amounts due under Section 6.06; 
 Second: to Holders for amounts due and unpaid on the Securities for principal (including payment of Principal Return, Net Shares, if any, premium,
if any, upon conversion), or interest, including Contingent Interest, if any, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

 

 32 

 Third: to the Issuer. 
 The Trustee, upon prior written notice to the Issuer, may fix a record date and payment date for any payment to the Holders pursuant to this Section 4.10. 
 Section 4.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as 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 4.11 shall not
apply to a suit by the Trustee, a suit by a Holder or group of Holders of more than 10% in aggregate Principal Amount of the outstanding Securities, or to any suit instituted by any Holder for the enforcement or the payment of the principal of
(including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on any Securities on or after the respective due dates expressed in the Security. 

ARTICLE 5 
 SUBORDINATION

 Section 5.01. Agreement to Subordinate. The Issuer agrees, and each Holder by accepting any Security agrees, that the
Indebtedness evidenced by the Securities is subordinated in right of payment, to the extent and in the manner provided in this Article 5, to the payment when due of all Senior Indebtedness of the Issuer and that such subordination is for the benefit
of and enforceable by the holders of Senior Indebtedness. The Securities shall in all respects rank pari passu with all other Subordinated Indebtedness of the Issuer, and only Indebtedness of the Issuer which is Senior Indebtedness will rank
senior to the Securities in accordance with the provisions set forth herein. Unsecured Indebtedness is not deemed to be subordinate or junior to Secured Indebtedness merely because it is unsecured, nor is any Indebtedness deemed to be subordinate or
junior to other Indebtedness merely because it matures after such other Indebtedness. Secured Indebtedness is not deemed to be Senior Indebtedness merely because it is secured. 
 Section 5.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution of the assets of the Issuer upon a total or
partial liquidation or dissolution or reorganization or bankruptcy of or similar proceeding relating to the Issuer or its property: 
 (a)
holders of Senior Indebtedness of the Issuer shall be entitled to receive payment in full in cash or Cash Equivalents of all Senior Indebtedness of the Issuer before holders of Securities shall be entitled to receive any payment of 
  

 33 

 principal of (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion),
interest, including Contingent Interest, if any, on or other amounts with respect to the Securities from the Issuer; and 
 (b) until the
Senior Indebtedness of the Issuer is paid in full, in cash or Cash Equivalents, any payment or distribution to which Holders would be entitled but for the provisions of this Article 5 shall be made to holders of Senior Indebtedness as their
interests may appear. 
 Section 5.03. Default on Senior Indebtedness. The Issuer may not pay the principal of (including
payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on, and other obligations with respect to, the Securities or repurchase, redeem or otherwise retire any
Securities (collectively, “pay the Securities”) if (i) any Senior Indebtedness is not paid when due or (ii) any other default on Senior Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in
accordance with its terms unless, in either case, (x) the default has been cured or waived or is no longer continuing and/or any such acceleration has been rescinded or (y) such Senior Indebtedness has been paid; provided, however,
that the Issuer may pay the Securities, subject to the provisions of Section 5.02, without regard to the foregoing if the Issuer and the Trustee receive written notice approving such payment from the Representatives of the Senior Indebtedness
with respect to which either of the events set forth in clause (i) or (ii) of this sentence has occurred or is continuing. During the continuance of any default (other than a default described in clause (i) or (ii) of the
preceding sentence) with respect to any Designated Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration
of any applicable grace periods, the Issuer may not pay the Securities (except (i) in Qualified Capital Stock issued by the Issuer to pay interest on the Securities or issued in exchange for the Securities, (ii) in securities substantially
identical to the Securities issued by the Issuer in payment of interest accrued thereon or (iii) in securities issued by the Issuer which are subordinated to the Senior Indebtedness at least to the same extent as the Securities and having a
Weighted Average Life to Maturity at least equal to the remaining Weighted Average Life to Maturity of the Securities) for a period (a “Payment Blockage Period”) commencing upon the receipt by the Trustee (with a copy to the Issuer)
of written notice (a “Blockage Notice”) of such default from the Representative of the holders of such Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period and ending 179 days thereafter (or
earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Issuer from the Person or Persons who gave such Blockage Notice, (ii) because the default giving rise to such Blockage Notice has been
cured, waived or is no longer continuing or (iii) because such Designated Senior Indebtedness has been repaid in full). Notwithstanding the provisions of the immediately preceding sentence, but 
  

 34 

 subject to the provisions of the first sentence of this Section 5.03 and the provisions of Section 5.02, the
Issuer may resume payments on the Securities after the end of such Payment Blockage Period. Not more than one Blockage Notice may be given, and not more than one Payment Blockage Period may occur, in any consecutive 360-day period, irrespective of
the number of defaults with respect to Designated Senior Indebtedness during such period. However, if any Blockage Notice within such 360 day period is given by or on behalf of any holders of Designated Senior Indebtedness (other than the agent
under the Senior Credit Facilities), the agent under the Senior Credit Facilities may give another Blockage Notice within such period. In no event, however, may the total number of days during which any Payment Blockage Period or Payment Blockage
Periods are in effect exceed 179 days in the aggregate during any 360 consecutive day period. No nonpayment default that existed or was continuing on the date of delivery of any Blockage Notice to the Trustee shall be, or be made, the basis for a
subsequent Blockage Notice unless such default shall have been cured or waived for a period of not less than 90 consecutive days. 
 Section 5.04. Acceleration of Payment of Securities. If payment of the Securities is accelerated because of an Event of Default, the Issuer or the Trustee shall promptly notify the holders of the Representative (if any)
of any issue of Designated Senior Indebtedness which is then outstanding; provided, however, that the Issuer and the Trustee shall be obligated to notify such a Representative (other than with respect to the Senior Credit Facilities) only if
such Representative has delivered or caused to be delivered an address for the service of such a notice to the Issuer and the Trustee (and the Issuer and the Trustee shall be obligated only to deliver the notice to the address so specified). If a
notice is required pursuant to the immediately preceding sentence, the Issuer may not pay the Securities (except payment (i) in Qualified Capital Stock issued by the Issuer to pay interest on the Securities or issued in exchange for the
Securities, (ii) in securities substantially identical to the Securities issued by the Issuer in payment of interest accrued thereon or (iii) securities issued by the Issuer which are subordinated to the Senior Indebtedness at least to the
same extent as the Securities and have a Weighted Average Life to Maturity at least equal to the remaining Weighted Average Life to Maturity of the Securities), until five Business Days after the respective Representative of the Designated Senior
Indebtedness receives notice (at the address specified in the preceding sentence) of such acceleration and thereafter may pay the Securities only if the provisions of this Article 5 otherwise permit payment at that time. 
 Section 5.05. When Distribution Must be Paid Over. If a distribution is made to the Trustee or to Holders that because of this Article
5 should not have been made to them, the Trustee or the Holders who receive such distribution shall hold it in trust for holders of Senior Indebtedness and promptly pay it over to them as their respective interests may appear; provided,
however, that the liabilities of the Trustee under this Section 5.05 are limited by Section 5.14. 
  

 35 

 Section 5.06. Subrogation. After all Senior Indebtedness is paid in full and until the
Securities are paid in full, Holders shall be subrogated to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness. A distribution made under this Article 5 to holders of Senior Indebtedness which
otherwise would have been made to Holders is not, as between the Issuer and the Holders, a payment by the Issuer of Senior Indebtedness. 
 Section 5.07. Relative Rights. This Article 5 defines the relative rights of Holders of the Securities on the one hand and holders of Senior Indebtedness on the other hand. Nothing in this Indenture shall: 
 (a) impair, as between the Issuer and the Holders, the obligation of the Issuer, which is absolute and unconditional, to pay principal of (including
payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on the Securities in accordance with their terms; or 
 (b) prevent the Trustee or any Holder from exercising its available remedies upon a Default or Event of Default, subject to the rights of holders of
Senior Indebtedness to receive distributions otherwise payable to Holders. 
 Section 5.08. Subordination May Not be Impaired
by Issuer. No right of any holder of Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the Issuer or by the failure of the Issuer to comply with
this Indenture. 
 Section 5.09. Rights of Trustee and Paying Agent. Notwithstanding Section 5.03, the Trustee or
Paying Agent may continue to make payments on the Securities and shall not be charged with knowledge of the existence of facts that would prohibit the making of any such payments unless, not less than two Business Days prior to the date of such
payment, a Responsible Officer of the Trustee receives notice satisfactory to it that payments may not be made under this Article 5. The Issuer, the Registrar or co-registrar, the Paying Agent, a Representative or a holder of Senior Indebtedness may
give the notice; provided, however, that if an issue of Senior Indebtedness has a Representative, only the Representative may give the notice. 
 The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same rights it would have if it were not Trustee. The Registrar and co-registrar and the Paying Agent may do the same with like
rights. The Trustee shall be entitled to all the rights set forth in this Article 5 with respect to any Senior Indebtedness which may at any time be held by it, to the same extent as any other holder of Senior Indebtedness; and nothing in Article 5
shall deprive the Trustee of any of its rights as such holder. Nothing in this Article 5 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.06. 
  

 36 

 Section 5.10. Distribution or Notice to Representative. Whenever a distribution is to
be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their Representative (if any). 
 Section 5.11. Article Five Not to Prevent Events of Default or Limit Right to Accelerate. The failure to make a payment in respect of the Securities by reason of any provision in this Article 5 shall not be construed as
preventing the occurrence of a Default or Event of Default. Nothing in this Article 5 shall have any effect on the right of the Holders or the Trustee to accelerate the maturity of the Securities in accordance with the terms of this Indenture.

 Section 5.12. Trustee Entitled to Rely. Upon any payment or distribution pursuant to this Article 5, the Trustee and
the Holders shall be entitled to rely (i) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 5.02 are pending, (ii) upon a certificate of the liquidating trustee
or agent or other Person making such payment or distribution to the Trustee or to the Holders or (iii) upon the Representatives for the holders of Senior Indebtedness for the purpose of ascertaining the Persons entitled to participate in such
payment or distribution, the holders of Senior Indebtedness and other Indebtedness of the Issuer, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 5. In
the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article 5, the Trustee may
request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other
facts pertinent to the rights of such Person under this Article 5, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The
Trustee shall have the right to seek a declaratory judgment as to any right of such Person to receive such payment. The provisions of Sections 6.01 and 6.02 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this
Article 5. 
 Section 5.13. Trustee to Effectuate Subordination. Each Holder by accepting a Security authorizes and
directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holder and the holders of Senior Indebtedness as provided in this Article 5 and appoints the Trustee
as attorney-in-fact for any and all such purposes. 
 Section 5.14. Trustee Not Fiduciary for Holders of Senior
Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Issuer, or any other
Person, money or assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article 5 or otherwise. 
  

 37 

 Section 5.15. Reliance by Holders of Senior Indebtedness on Subordination Provisions.
Each Holder by accepting a Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was
created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such
subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. 
 ARTICLE 6 
 THE TRUSTEE 
 Section 6.01. 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 their exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

(b) Except during the continuance of an Event of Default: 
 (i) The Trustee shall not be liable except for the performance of such duties as are specifically set forth herein 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 conforming to the requirements of this Indenture; provided, however, that
in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions to determine whether or not they conform to the
requirements of this Indenture. 
 (c) The Trustee shall 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 paragraph
(b) of this Section 6.01; 
  

 38 

 (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 
 (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 Sections 4.02, 4.04 and 4.05. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or to take or omit to take any action under this Indenture or take any action at the request or direction of Holders if it shall have reasonable grounds for believing that repayment of such funds is not
assured to it or it does not receive from such Holders an indemnity satisfactory to it in its sole discretion against such risk, liability, loss, fee or expense which might be incurred by it in compliance with such request or direction. 

(e) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (d) of this
Section 6.01. 
 (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 Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 Section 6.02. Rights of Trustee. 
 Subject to Section 6.01: 
 (a) The Trustee may conclusively rely on any document reasonably believed in good faith 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/or an Opinion of Counsel, which shall conform to the provisions of Section 17.05. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on
such certificate or opinion. 
 (c) The Trustee may act through attorneys and agents of its selection and shall not be responsible for the
misconduct or negligence of any agent or attorney (other than an agent who is an employee of the Trustee) 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 reasonably believes to be authorized or within its rights or powers. 
  

 39 

 (e) Before the Trustee acts or refrains from acting, it may consult with counsel of its selection and the
advice or opinion of such counsel shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

 (f) Any request or direction of the Issuer mentioned herein shall be sufficiently evidenced by a Issuer Request or Issuer Order and any
resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution. 
 (g) 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 reasonable security or indemnity against the
costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 (h) 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 Issuer, personally or by agent or attorney, at the sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
 (i) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge
thereof or unless the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture. 
 (j) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 
 (k) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty and the Trustee shall not be
answerable for other than its gross negligence or willful misconduct. 
 (l) 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 each agent, custodian and other Person employed to act hereunder.

  

 40 

 (m) The Trustee may request that the Company deliver a certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 
 Section 6.03.
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 Issuer or its Affiliates with the same rights it would have if it were not
Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to Sections 6.09 and 6.10. 
 Section 6.04.
Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Issuer’s use of the proceeds from the
Securities, and it shall not be responsible for any statement of the Issuer in this Indenture or any document issued in connection with the sale of Securities or any statement in the Securities other than the Trustee’s certificate of
authentication. 
 Section 6.05. Notice of Defaults. If a Default or an Event of Default occurs and is continuing and the
Trustee has actual knowledge of such Defaults or Events of Default, the Trustee shall mail to each Holder notice of the Default or Event of Default within 30 days after the occurrence thereof. Except in the case of a Default or an Event of Default
in payment of principal of (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on any Security or a Default or Event of Default in complying with
Section 8.01, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interest of the Holders. This Section 6.05 shall be in lieu of the
proviso to § 315(b) of the TIA and such proviso to § 315(b) of the TIA is hereby expressly excluded from this Indenture and the Securities, as permitted by the TIA. 
 Section 6.06. Compensation and Indemnity. The Issuer shall pay to the Trustee and the Agents from time to time, and the Trustee and
the Agents shall be entitled to, such compensation as the Issuer and the Trustee and the Agents shall from time to time agree in writing for their respective services. The Trustee’s compensation shall not be limited by any law on compensation
of a trustee of an express trust. The Issuer shall reimburse the Trustee and the Agents upon request for all reasonable disbursements, expenses and advances, including all costs and expenses of collection and reasonable fees, disbursements and
expenses of its agents and outside counsel incurred or made by any of them in addition to the compensation for their respective services except any such disbursements, expenses and advances as may be attributable to negligence or willful misconduct
of the party to be reimbursed. 
 The Issuer shall indemnify the Trustee and the Agents for, and hold them harmless against any and all loss,
damage, claims, liability or expense, including 

  

 41 

 
taxes (other than franchise taxes imposed on the indemnified party and taxes based upon, measured by or determined by the income of the indemnified party),
arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending themselves against or investigating any claim or liability in connection with the exercise or
performance of any of their powers or duties hereunder, except to the extent that such loss, damage, claim, liability or expense is due to negligence or willful misconduct of the indemnified party. The indemnified party shall notify the Issuer
promptly of any claim asserted against the indemnified party for which it may seek indemnity. However, the failure by the indemnified party to so notify the Issuer shall not relieve the Issuer of its obligations hereunder unless the Issuer has been
prejudiced thereby. The Issuer shall defend the claim and the indemnified party shall cooperate in the defense at the expense of the Issuer; provided that the Issuer shall not be liable in any action or for which it has assumed the defense
for the expenses of separate counsel to the indemnified party unless (1) the employment of separate counsel has been authorized by the Issuer, (2) the indemnified party has reasonably concluded (based upon advice of counsel to the
indemnified party) that there may be legal defenses available to the indemnified party that are different from or in addition to those available to the Issuer or (3) a conflict or potential conflict exists (based upon advice of counsel to the
indemnified party) between the indemnified party and the Issuer; provided further, however, that in any such event the reimbursement obligation of the Issuer with respect to separate counsel of the indemnified party will be limited to the
reasonable fees and expenses of such counsel. 
 The Issuer need not pay for any settlement made without its written consent, which consent
shall not be unreasonably withheld. The Issuer need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or an Agent as a result of its own negligence or willful misconduct. 
 To secure the payment obligations of the Issuer in this Section 6.06, the Trustee shall have a Lien prior to the Securities against all money or
property held or collected by the Trustee, in its capacity as Trustee, except money or property held in trust to pay principal of (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest,
including Contingent Interest, if any, on particular Securities. 
 When the Trustee incurs expenses or renders services after an Event of
Default specified in Section 4.01(g) or Section 4.01(h) occurs, the expenses (including the reasonable fees and expenses of its agents and counsel) and the compensation for the services shall be preferred over the status of the Holders in
a proceeding under any Bankruptcy Law and are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 6.07. Replacement of Trustee. The Trustee may resign at any time by so notifying the Issuer in writing. The Holders of a majority in Principal Amount of the outstanding Securities may remove the Trustee by so
notifying 

  

 42 

 
the Trustee and the Issuer in writing and may appoint a successor Trustee with the Issuer’s consent. The Issuer may remove the Trustee if: 

(a) the Trustee fails to comply with Section 6.09; 
 (b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (c) a Custodian 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
Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in Principal Amount of the Securities
may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. 
 A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Issuer. As promptly as practicable after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 6.06, all property held
by it as Trustee to the successor Trustee, subject to the Lien provided in Section 6.06, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have the rights, powers and duties of the
Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder. 
 If a successor Trustee does not take
office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in Principal Amount of the outstanding Securities may petition, at the expense of the Issuer, any court of
competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee fails to comply with Section 6.09, any Holder may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 Notwithstanding
replacement of the Trustee pursuant to this Section 6.07, the Issuer’s obligations under Section 6.06 shall continue for the benefit of the retiring Trustee. 
 Section 6.08. Successor Trustee by Merger, Etc. If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation or banking corporation, the 

  

 43 

 
resulting, surviving or transferee corporation or banking corporation without any further act shall be the successor Trustee; provided, however, that
such corporation shall be otherwise qualified and eligible under this Article 6. 
 Section 6.09. Eligibility;
Disqualification. This Indenture shall always have a Trustee which shall be eligible to act as Trustee under TIA §§ 310(a)(1) and 310(a)(2). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set
forth in its most recent published annual report of condition. If the Trustee has or shall acquire any “conflicting interest” within the meaning of TIA § 310(b), the Trustee and the Issuer shall comply with the provisions of TIA
§ 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of
the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09, the Trustee shall
resign immediately in the manner and with the effect hereinbefore specified in this Article 6. The provisions of TIA § 310 shall apply to the Issuer and any other obligor of the Securities. 
 Section 6.10. Preferential Collection of Claims Against the Issuer. The Trustee shall comply with TIA § 311(a), excluding
any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE 7 
 HOLDERS’ LISTS AND
REPORTS BY TRUSTEE AND ISSUER 
 Section 7.01.
Issuer to Furnish Trustee Information as to Names and Addresses of Holders. The Issuer covenants and agrees that it will furnish or cause to be furnished to the Trustee: 
 (a) Semi-annually, not later than June 1 and December 1 in each year, commencing June 1, 2005, a list, in such form as the Trustee may
reasonably require, of the names and addresses of the Holders as of a date not more than 15 days prior to the time such list is furnished and 
 (b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Issuer of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is
furnished; 
 provided, however, that so long as the Trustee is the Registrar, no such list shall be required to be furnished. 
 Section 7.02. Preservation of Information; Communications to Holders. The Trustee shall preserve, in as current a form as is
reasonably practicable, all 
  

 44 

 information as to the names and addresses of the Holders of Securities (1) contained in the most recent list
furnished to it as provided in Section 7.01 and (2) received by it in the capacity of Paying Agent or Registrar (if so acting) hereunder. The Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a
new list so furnished. 
 Section 7.03. Reports by Trustee. Within 60 days after each May 15 beginning with
May 15, 2005, the Trustee shall mail to each Holder a brief report dated as of such June 1 that complies with TIA § 313(a), if required by such TIA § 313(a). The Trustee also shall comply with TIA § 313(b). 
 A copy of each report at the time of its mailing to Holders shall be filed with the Commission and each securities exchange, if any, on which the
Securities are listed. The Issuer agrees to promptly notify the Trustee whenever the Securities become listed on any securities exchange and of any delisting thereof. 
 ARTICLE 8 
 CONSOLIDATION, MERGER, SALE OR
CONVEYANCE 
 Section 8.01. Consolidations and Mergers of Issuer Permitted Subject to Certain Conditions.
The Issuer shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, unless: 
 (a) the Issuer is the surviving corporation or the successor is a U.S. domestic corporation, limited liability company, partnership, trust or other
entity, and assumes by operation of law or expressly, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment (pursuant to this Indenture) of the Principal Amount
(including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), Redemption Price, Purchase Price or Fundamental Change Purchase Price with respect to any Security and any interest, including Contingent
Interest, if any, on all the Securities and the performance of every covenant to be performed by the Issuer or observed hereunder; 
 (b)
immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and 
 (c) the
Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions
precedent herein provided for relating to such transaction have been met. 
  

 45 

 Section 8.02. Rights and Duties of Successor Entity. Upon any consolidation with or
merger into any other corporation, or any conveyance, transfer or lease of the properties and assets of the Issuer substantially as an entirety in accordance with Section 8.01, the successor entity formed by such consolidation or into which the
Issuer is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of the Issuer under this Indenture with the same effect as if such successor had been named as
the Issuer herein, and thereafter, except in the case of a lease, the Issuer shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE 9 
 AMENDMENTS, SUPPLEMENTS AND WAIVERS

 Section 9.01. Without Consent of Holders. The Issuer, when authorized by a resolution of the Board of Directors, and
the Trustee may amend or supplement this Indenture or the Securities without notice to or consent of any Holder: 
 (a) to cure any ambiguity,
defect or inconsistency; provided, however, that such amendment or supplement does not adversely affect the rights of any Holder; 
 (b) to effect the assumption by a successor Person of all obligations of the Issuer under the Securities and this Indenture in connection with any transaction complying with Article 8 of this Indenture; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 
 (d) to comply with any requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (e) to make any change that would provide any additional benefit or rights to the Holders; 
 (f) to make any other change that does not adversely affect the rights of any Holder under this Indenture; or 
 (g) to add to the covenants of the Issuer for the benefit of the Holders, or to surrender any right or power herein conferred upon the Issuer;

 provided, however, that if required by the Trustee, the Issuer has delivered to the Trustee an Opinion of Counsel stating that such amendment or
supplement complies with the provisions of this Section 9.01. 
  

 46 

 Section 9.02. With Consent of Holders. Subject to Section 4.07, the Issuer, when
authorized by a Board Resolution, and the Trustee may modify, amend or supplement, or waive compliance by the Issuer with any provision of, this Indenture or the Securities with the written consent of the Holders of at least a majority in Principal
Amount of the outstanding Securities. However, without the consent of each Holder affected, no such modification, amendment, supplement or waiver, including a waiver pursuant to Section 4.04, may: 
 (a) reduce the Principal Amount of or change the Stated Maturity Date of any Security or alter the provisions with respect to the repurchase or redemption
of the Securities; 
 (b) reduce the rate of or change the time for payment of interest on any Security, including Contingent Interest;

 (c) make any Security payable in money other than that stated in the Securities or as otherwise permitted in this Indenture; 

(d) make any change in the provisions of this Indenture relating to the rights of Holders of Securities to receive payments of principal of (including
payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on the Securities or to bring suit to enforce such payment; 
 (e) adversely affect the rights of Holders of the Securities under the conversion provisions of this Indenture; 
 (f) reduce the percentage of the Principal Amount of outstanding Securities necessary for amendment to or waiver of compliance with any provision of this
Indenture or the Securities or for waiver of any Default in respect thereof; 
 (g) waive a Default or Event of Default in the payment of
principal of (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), or interest, including Contingent Interest, if any, on the Securities (except a rescission of acceleration of the Securities by the
Holders thereof as provided in Section 4.02 and a waiver of the payment default that resulted from such acceleration); or 
 (h) after
the Issuer’s obligation upon the occurrence of a Fundamental Change to purchase the Securities arises under this Indenture, amend, modify or change its obligation to make or consummate a purchase offer or waive any default in the performance
thereof or modify any of the provisions or definitions with respect to any such offers. 
  

 47 

 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the
particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer shall mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer 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 9.03. Compliance with Trust Indenture Act. Every amendment to or supplement of this Indenture or the Securities shall comply with the TIA as then in effect. 
 Section 9.04. Record Date for Consents and Effect of Consents. The Issuer may, but shall not be obligated to, fix a record date for
the purpose of determining the Holders of Securities entitled to consent to any amendment, supplement or waiver. If a record date is fixed, then those persons who were Holders of Securities at such record date (or their duly designated proxies), and
only those persons, shall be entitled to consent to such amendment, supplement or waiver or to revoke any consent previously given, whether or not such persons continue to be Holders of such Securities after such record date. No such consent shall
be valid or effective for more than 90 days after such record date. The Trustee is entitled to rely upon any electronic instruction from beneficial owners to the Holders of any Global Security. 
 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 (h) of Section 9.02. 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 9.05. Notation on or Exchange of Securities. If an amendment,
supplement or waiver changes the terms of a Security, the Trustee may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder.
Alternatively, if the Issuer or the Trustee so determine, the Issuer in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or issue a new
Security shall not affect the validity and effect of such amendment, supplement or waiver. 
 Section 9.06. Trustee to Sign
Amendments, Etc.. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article 9 is authorized
or permitted by this Indenture 
  

 48 

 and that such amendment, supplement or waiver constitutes the legal, valid and binding obligation of the Issuer,
enforceable in accordance with its terms (subject to customary exceptions). The Trustee may, but shall not be obligated to, execute any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. In signing any amendment, supplement or waiver, the Trustee shall be entitled to receive an indemnity reasonably satisfactory to it. 
 ARTICLE 10 
 COVENANTS OF THE ISSUER 

Section 10.01. Payment of Principal, Premium and Interest. The Issuer covenants and agrees that it will duly and punctually pay or
cause to be paid all payments in respect of the Securities in accordance with the terms of the Securities and this Indenture. Any amounts to be given to the Trustee or Paying Agent shall be deposited with the Trustee or Paying Agent by 11:00 a.m.
New York City time by the Issuer at the latest on the day such payment is due. Principal Amount (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), Redemption Price, Purchase Price, Fundamental
Change Purchase Price and interest (including Contingent Interest, if any), shall be considered paid on the applicable date due if on such date (or, in the case of a Purchase Price or Fundamental Change Purchase Price, on the Business Day following
the applicable Purchase Date or Fundamental Change Purchase Date, as the case may be) the Trustee or the Paying Agent holds, in accordance with this Indenture, money or securities, if permitted hereunder, sufficient to pay all such amounts then due.

 Section 10.02. Maintenance of Office or Agency. The Issuer shall maintain an office or agency of the Trustee,
Registrar, Paying Agent and Conversion Agent where the Securities may be presented or surrendered for payment, where the Securities may be surrendered for registration of transfer or exchange, where the Securities may be surrendered for purchase,
redemption or conversion and where notices and demands to or upon the Issuer in respect of the Securities and this Indenture may be served. The office of the Paying Agent, at 101 Barclay Street, 8W, New York, NY 10286, Attention: Corporate Trust
Administration, shall initially be such office or agency for all of the aforesaid purposes. The Issuer will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Issuer hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
  

 49 

 The Issuer may also from time to time designate one or more other offices or agencies where the
Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. 
 Section 10.03. Money for Securities Payments to be Held in Trust. If the Issuer shall at any time act as its own Paying Agent with respect to the Securities, it will, on or before each due date of the Principal Amount
(including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), Redemption Price, Purchase Price, Fundamental Change Purchase Price and interest, including Contingent Interest, if any, on any of the Securities,
segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such sums so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Issuer will promptly notify
the Trustee of any failure by the Issuer to take such action or failure so to act. 
 Whenever the Issuer shall have one or more Paying
Agents for the Securities, it will, on or prior to each due date of the Principal Amount (including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), Redemption Price, Purchase Price, Fundamental Change
Purchase Price and interest, including Contingent Interest, if any, on any Securities, deposit with a Paying Agent a sum sufficient to pay such amounts so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such
amounts, and (unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee of its action or failure so to act. 
 The
Issuer will cause each Paying Agent, other than the Trustee or an Affiliate of the Issuer, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this
Section 10.03, that such Paying Agent will: 
 (i) hold all sums held by it for the payment of the Principal Amount
(including payment of the Principal Return, the Net Shares, if any, premium, if any, upon conversion), Redemption Price, Purchase Price, Fundamental Change Purchase Price and interest, including Contingent Interest, if any, on the Securities
(whether such sums have been paid to it by the Issuer or by any other obligor on the Securities) in trust for the benefit of the Persons entitled thereto; 
 (ii) give the Trustee notice of any failure by the Issuer (or any other obligor upon the Securities) to make any payment of the Principal Amount (including payment of the Principal Return, the Net Shares, if any,
premium, if any, upon conversion), Redemption Price, Purchase Price, Fundamental Change Purchase Price and interest, including Contingent Interest, if any, on the Securities when the same shall be due and payable; and 
  

 50 

 (iii) at any time during the continuance of any Event of Default, upon the written
request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 Anything in this Section 10.03
to the contrary notwithstanding, the Issuer may, at any time, for the purpose of obtaining satisfaction and discharge of this Indenture, or for any other reason, pay, or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in
trust by the Issuer or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying
Agent shall be released from all further liability with respect to such money. 
 Section 10.04. Compliance Certificate.
The Issuer shall deliver to the Trustee within 120 days after the close of each fiscal year an Officers’ Certificate stating that a review of the activities of the Issuer has been made under the supervision of the signing officer with a view to
determining whether a Default or Event of Default has occurred and whether or not the signers know of any Default or Event of Default by the Issuer that occurred during such fiscal year and if they do know of such a Default or Event of Default, its
status and the action the Issuer is taking or proposes to take with respect thereto. The first certificate to be delivered by the Issuer pursuant to this Section 10.04 shall be for the fiscal year ending December 31, 2004. 
 Section 10.05. Calculation of Original Issue Discount. The Issuer shall file with the Trustee promptly at the end of each calendar
year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on the Securities as of the end of such year and (ii) such other specific information relating to such original
issue discount as may then be reasonably requested by the Trustee and relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 Section 10.06. Further Instruments and Acts. The Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper or as the Trustee may
request to carry out more effectively the purposes of this Indenture. 
 Section 10.07. Statement by Officers as to
Default. The Issuer shall deliver to the Trustee, as soon as possible and in any event within five days after the Issuer becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would
constitute an Event of Default, an Officers’ Certificate setting forth the details of such Event of Default or default and the action which the Issuer proposes to take with respect thereto. 
  

 51 

 ARTICLE 11 
 REDEMPTION OF SECURITIES 
 Section 11.01. Right
to Redeem; Notices to Trustee. Prior to June 13, 2008, the Securities shall not be redeemable at the option of the Issuer. On and after June 13, 2008 until June 12, 2009, the Securities shall be redeemable for cash as a whole, or
from time to time in part, at the option of the Issuer at the Redemption Price, if the Closing Sale Price has exceeded, for at least 20 Trading Days in any 30 consecutive Trading Day period ending on the Trading Day immediately prior to the date the
Issuer mails the notice of redemption, 125% of the Base Conversion Price. Beginning on June 13, 2009 and until the Stated Maturity Date, the Securities are redeemable for cash as a whole, or from time to time in part, at the option of the
Issuer at the Redemption Price. Notwithstanding the foregoing, if the Redemption Date is any day during the period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on such
Interest Payment Date, accrued and unpaid interest, including Contingent Interest, if any, shall be paid to the Holder of record as of the applicable Regular Record Date, rather than to the Holder presenting the Security for redemption. If the
Issuer elects to redeem Securities, it shall notify the Trustee in writing of the Redemption Date, the Principal Amount of Securities to be redeemed and the Redemption Price. 
 The Issuer shall give the notice to the Trustee provided for in this Section 11.01 by a Issuer Order at least 30 days before the Redemption Date.

 Section 11.02. Selection of Securities to Be Redeemed. If less than all the Securities are to be redeemed, the Trustee
shall select the Securities to be redeemed pro rata or by lot or by any other method the Trustee considers fair and appropriate (so long as such method is not prohibited by the rules of any stock exchange on which the Securities are then listed).
The Trustee shall make the selection at least 15 days but not more than 60 days before the Redemption Date from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the Principal Amount of
Securities that have denominations equal to or larger than $1,000. Securities and portions of them the Trustee selects shall be in Principal Amounts of $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to Securities
called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Issuer promptly of the Securities or portions of Securities to be redeemed. 
 Section 11.03. Notice of Redemption. At least 30 days but not more than 60 days before a Redemption Date, the Issuer shall mail a
notice of redemption by first-class mail, postage prepaid, to each Holder of Securities to be redeemed. 
  

 52 

 The notice shall identify the Securities to be redeemed and shall at a minimum state: 
 (a) the Redemption Date; 
 (b) the Redemption
Price; 
 (c) the Conversion Rate; 
 (d) the name and address of the Paying Agent and Conversion Agent; 
 (e) that Securities called for redemption may be converted at
any time before the close of business on the Business Day immediately preceding the Redemption Date; 
 (f) that Holders who want to convert
Securities must satisfy the requirements set forth in the applicable provisions of the Securities; 
 (g) that Securities called for
redemption must be surrendered to the Paying Agent to collect the Redemption Price; 
 (h) if fewer than all the outstanding Securities are
to be redeemed, the certificate number and Principal Amounts of the particular Securities to be redeemed; 
 (i) that, unless the Issuer
defaults in making payment of such Redemption Price, interest, including Contingent Interest, if any, on Securities called for redemption will cease to accrue on and after the Redemption Date; and 
 (j) the CUSIP number of the Securities. 
 At
the Issuer’s request, the Trustee shall give the notice of redemption in the Issuer’s name and at the Issuer’s expense, provided that the Issuer makes such request at least three Business Days prior to such notice of
redemption. 
 If the Issuer redeems fewer than all of the outstanding Securities, the Trustee may select the Securities by lot, pro rata, or
by another method the Trustee considers fair and appropriate. If the Trustee selects a portion of a Holder’s Securities for partial redemption and such Holder converts a portion of such Securities, the converted portion will be deemed, to the
extent practicable, to be the portion selected for redemption. 
 Section 11.04. Effect of Notice of Redemption. Once
notice of redemption is mailed, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice, except for Securities which are converted in accordance with the terms of this
Indenture. Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption Price stated in the notice. 
  

 53 

 Section 11.05. Deposit of Redemption Price. Prior to 11:00 a.m., New York City time on
the Redemption Date, the Issuer shall deposit with the Paying Agent (or if the Issuer or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the Redemption Price of all
Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which on or prior thereto have been delivered by the Issuer to the Trustee for cancellation or have been converted. The Paying Agent shall
as promptly as practicable return to the Issuer any money not required for that purpose. If such money is then held by the Issuer in trust and is not required for such purpose it shall be discharged from such trust. 
 Section 11.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Issuer 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 unredeemed portion of the Security surrendered. 
 Section 11.07. Conversion Arrangement on Call for Redemption. In connection with any redemption of Securities, the Issuer may arrange
for the purchase and conversion of any Securities called for redemption by an agreement with one or more investment bankers or other purchasers to purchase such Securities by paying to a Paying Agent in trust for the Holders, on or before 11:00 A.M.
New York City time on the Redemption Date, an amount that, together with any amounts deposited with such Paying Agent by the Issuer for the redemption of such Securities, is not less than the Redemption Price of such Securities. Notwithstanding
anything to the contrary contained in this Article, the obligation of the Issuer to pay the Redemption Price of such Securities shall be deemed to be satisfied and discharged to the extent such amount is so paid by such purchasers; provided,
however, that nothing in this Section 11.07 shall relieve the Issuer of its obligation to pay the Redemption Price of the Securities called for redemption. If such an agreement is entered into, any Securities called for redemption and not
surrendered for conversion by the Holders thereof prior to the relevant Redemption Date may, at the option of the Issuer upon written notice to the Trustee, be deemed, to the fullest extent permitted by law, acquired by such purchasers from such
Holders and (notwithstanding anything to the contrary contained in Article 12) surrendered by such purchasers for conversion, all as of immediately prior to the close of business on the Business Day immediately prior to the Redemption Date, subject
to payment of the above amount as aforesaid. The Paying Agent shall hold and pay to the Holders whose Securities are selected for redemption any such amount paid to it for purchase in the same manner as it would money deposited with it by the Issuer
for the redemption of the Securities. Without the Paying Agent’s prior written consent, no arrangement between the Issuer and such purchasers for the purchase and conversion of any Securities shall increase or otherwise affect any of the
powers, 
  

 54 

 duties, responsibilities or obligations of the Paying Agent as set forth in this Indenture, and the Issuer agrees to
indemnify the Paying Agent from, and hold it harmless against, any loss, liability or expense arising out of or in connection with any such arrangement for the purchase and conversion of any Securities between the Issuer and such purchasers,
including the costs and expenses incurred by the Paying Agent in the defense of any claim or liability reasonably incurred without negligence or bad faith on its part arising out of or in connection with the exercise or performance of any of its
powers, duties, responsibilities or obligations under this Indenture, in accordance with the indemnity provisions applicable to the Trustee set forth herein. 
 ARTICLE 12 
 CONVERSION 
 Section 12.01. Conversion Rights. The Securities shall be convertible in accordance with their terms and in accordance with and
subject to this Article into cash and shares of Common Stock, if any, per $1,000 Principal Amount of Securities at the Conversion Rate (except in the case of a Principal Value Conversion), as described below in Section 12.07. 
 A Holder of a Security otherwise entitled to a fractional share upon the conversion thereof shall receive cash in an amount equal to the value of such
fractional share based on the Applicable Stock Price with respect to such conversion. 
 Upon determination by the Issuer that Holders are or
will be entitled to convert their Securities pursuant to this Article 12, the Issuer shall notify the Trustee thereof, which notice shall be in the form of an Officers’ Certificate, and the Issuer shall issue a press release and publish such
determination on the Issuer’s website on the World Wide Web. 
 Holders may surrender Securities for conversion only if at least one of
the conditions described in Section 12.02 through Section 12.06 is satisfied. In addition, a Security in respect of which a Holder has delivered a Purchase Notice or Fundamental Change Purchase Notice exercising the option of such Holder
to require the Issuer to purchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the terms of the Indenture. 
 Section 12.02. Conversion Rights Based on Common Stock Price. 
 (a) On or prior to
December 31, 2007, a Holder may surrender Securities or portions thereof in integral multiples of $1,000 Principal Amount for conversion in any fiscal quarter (and only during such fiscal quarter) commencing after December 31, 2004, if the
Closing Sale Price of the Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days ending on the last Trading Day of the preceding fiscal quarter is more than 120% of the Base Conversion Price. 
  

 55 

 (b) A Holder may surrender Securities or portions thereof in integral multiples of $1,000 Principal
Amount for conversion at any time after December 31, 2007, if the Closing Sale Price of the Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days ending on the last Trading Day of any fiscal quarter commencing
after September 30, 2007 is more than 120% of the Base Conversion Price. 
 Section 12.03. Conversion Rights Upon Credit
Rating Events. Holders may surrender Securities or portions thereof in integral multiples of $1,000 Principal Amount for conversion at any time after the earlier of (1) the date on which the credit rating assigned to the Securities by
S&P is below B-, or the credit rating assigned to the Securities by Moody’s is below B3 and (2) January 31, 2005 if either S&P or Moody’s does not assign a rating to the Securities on or prior to such day. 
 Section 12.04. Conversion Rights Upon Notice of Redemption. Holders may surrender for conversion in integral multiples of $1,000
Principal Amount any Securities called for redemption under Article 11 hereof at any time prior to the close of business on the Business Day immediately preceding the Redemption Date, even if the Securities are not otherwise convertible at such
time. 
 Section 12.05. Conversion Rights Upon Occurrence of Certain Corporate Transactions. 
 (a) Conversion Upon Specified Events. If the Issuer is a party to a consolidation, merger or binding share exchange pursuant to which shares of Common
Stock would be converted into cash, securities or other property, any Security may be surrendered for conversion in integral multiples of $1,000 Principal Amount at any time from and after the date that is 15 days prior to the anticipated effective
date of the transaction until 15 days after the actual date of such transaction (or, if such consolidation, merger or share exchange also constitutes a Fundamental Change, until the Fundamental Change Purchase Date). After the effective time of the
transaction, the settlement of the Securities upon conversion, the Conversion Value and the Net Shares will be based on the kind and amount of cash, securities or other property of the Issuer or another Person that the Holder would have received if
the Holder had converted such Security immediately prior to the transaction. 
 (b) Conversion Upon Certain Distributions. If the Issuer
distributes to all holders of Common Stock (1) rights or warrants entitling them to purchase, for a period expiring within 45 days of the record date for such distribution, Common Stock at less than the average Closing Sale Price for the 10
Trading Days preceding the declaration date for such distribution, or (2) cash, assets, debt 
  

 56 

 securities or rights to purchase the Issuer’s securities, which distribution has a per share value exceeding 5% of
the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the declaration date for such distribution, the Securities may be surrendered for conversion in integral multiples of $1,000 Principal Amount beginning on the date
that the Issuer gives notice to the Holders of such right, which shall not be less than 20 days prior to the time (“Ex-Dividend Time”) immediately prior to the commencement of “ex-dividend” trading for such distribution on
the New York Stock Exchange or such other principal national or regional exchange or market on which the Common Stock is then listed or quoted for such dividend or distribution, and Securities may be surrendered for conversion at any time thereafter
until the earlier of close of business on the Business Day prior to the Ex-Dividend Time and the date the Issuer announces that such dividend or distribution will not take place. Notwithstanding the foregoing, Holders shall not have the right to
surrender Securities for conversion pursuant to this Section 12.05 if they will otherwise participate in the distribution described above without first converting Securities. 
 Section 12.06. Conversion Upon Satisfaction of Trading Price Condition. 
 (a) Securities may be surrendered for conversion, in integral multiples of $1,000 Principal Amount any time during the five Business Day period after any
five consecutive Trading Day period in which the Trading Price per $1,000 Principal Amount of the Securities for each day of such five Trading Day period was less than 95% of the product of the Closing Sale Price and the Conversion Rate as of such
Trading Day (determined based on such Closing Sale Price rather than the Applicable Stock Price). 
 (b) Notwithstanding the foregoing, if,
on the date of any conversion pursuant to Section 12.06(a) that is on or after June 9, 2018, the Closing Sale Price of the Common Stock is greater than the Effective Conversion Price, the Holders of Securities surrendered for conversion
shall receive, in lieu of the Principal Return and Net Shares, if any, based on the Conversion Value as set forth in Section 12.07, cash equal to the Principal Amount of such Securities plus accrued and unpaid interest, including Contingent
Interest, if any, to the Conversion Date (“Principal Value Conversion”). 
 (c) In connection with any conversion pursuant
to this Section 12.06, the Trustee shall not have any obligation to determine the Trading Price of the Securities. If a Holder provides the Issuer with reasonable evidence that the Trading Price per Security would be less than 95% of the
product of the Closing Sale Price of the Common Stock and the Conversion Rate then in effect (determined based on such Closing Sale Price rather than the Applicable Stock Price), the Issuer shall determine the Trading Price of the Securities
beginning on the next Trading Day and on each successive Trading Day until the Trading Price per such Security is greater than or equal to 95% of the product of the Closing Sale Price of the Common Stock and the Conversion Rate as of such Trading
Day (determined based on such Closing Sale Price rather than the Applicable Stock Price). 
  

 57 

 Section 12.07. Conversion Procedures; Conversion Settlement. To convert a Security, a
Holder must (a) complete and manually sign the Conversion Notice or a facsimile of the conversion notice on the back of the Security (the “Conversion Notice”) and deliver such notice to the Conversion Agent, (b) surrender
the Security to a Conversion Agent, (c) furnish appropriate endorsements and transfer documents if required by the Registrar or the Conversion Agent, (d) pay any transfer or similar tax, if required and (e) if required, pay funds
equal to the interest, including Contingent Interest, if any, payable on the next Interest Payment Date. The date on which the Holder satisfies all of those requirements is the “Conversion Date.” The Issuer shall deliver to the
Holder through the Conversion Agent, no later than the third Business Day following the date on which the Applicable Stock Price is determined by the Issuer in respect of such Conversion Date, the Principal Return and the Net Shares (in the form of
a certificate for the number of whole shares of Common Stock issuable upon the conversion), if any, as set forth in this Section 12.07 and, if applicable, cash in lieu of any fractional shares pursuant to Section 12.08. Anything herein to
the contrary notwithstanding, in the case of Global Securities, Conversion Notices may be delivered and such Securities may be surrendered for conversion in accordance with the applicable procedures of the Depositary as in effect from time to time.
The Person in whose name the Common Stock certificate, if any, is registered shall be deemed to be a shareholder of record at the close of business on the date on which the Applicable Stock Price is determined by the Issuer with respect to the
applicable Conversion Date; provided, however, that if any such date is a date when the stock transfer books of the Issuer are closed, such Person shall be deemed a shareholder of record as of the next date on which the stock transfer books
of the Issuer are open. 
 No payment or adjustment shall be made for dividends on, or other distributions with respect to, any Common Stock
except as provided in this Article. Upon conversion of a Security, a Holder will not receive any cash payment of interest, including Contingent Interest, if any (unless such conversion occurs between a Regular Record Date and the Interest Payment
Date to which it relates). The delivery by the Issuer to the Holder of the Principal Return and Common Stock, if any, for which the Security is convertible, together with any cash payment for such holder’s fractional shares, will be deemed:

 (i) to satisfy the Issuer’s obligation to pay the Principal Amount of the Security being converted pursuant to the
provisions hereof; and 
 (ii) to satisfy the Issuer’s obligation to pay accrued but unpaid interest, including
Contingent Interest, if any, attributable to the period from the most recent Interest Payment Date through the Conversion Date. 
  

 58 

 As a result, the Principal Amount and unpaid interest, including Contingent Interest, if any, through the
Conversion Date are deemed to be paid in full rather than cancelled, extinguished or forfeited. 
 Notwithstanding the foregoing, if
Securities are converted after a Record Date but prior to the corresponding Interest Payment Date, Holders at the close of business on the Record Date will receive the interest, including Contingent Interest, if any, payable on such Securities on
the corresponding Interest Payment Date notwithstanding the conversion. Such Securities, upon surrender for conversion, must be accompanied by funds equal to the amount of interest, including Contingent Interest, if any, payable on the Securities so
converted; provided that no such payment need be made (1) if the Issuer has specified a Redemption Date that is after a Record Date and on or prior to the next Interest Payment Date, (2) if the Issuer has specified a Fundamental
Change Purchase Date that is after a Record Date and on or prior to the next Interest Payment Date or (3) to the extent of overdue interest or overdue Contingent Interest, if any, if overdue interest or overdue Contingent Interest exists at the
time of conversion with respect to such Security. 
 Subject to Section 12.05 and subject to a Principal Value Conversion as set forth
in Section 12.06, if a Holder surrenders its Securities for conversion, such Holder shall receive, in respect of each $1,000 Principal Amount of Securities: 
 (i) cash in an amount (the “Principal Return”) equal to the lesser of (a) the Principal Amount of such Security and
(b) the Conversion Value; 
 (ii) if the Conversion Value is greater than such Principal Amount, a number of shares of
Common Stock (the “Net Shares”) equal to the sum of the Daily Share Amounts for each Trading Day during the Applicable Conversion Reference Period; and 
 (iii) cash in lieu of any fractional shares as set forth in Section 12.08. 
 The Conversion Value, the Principal Return and Net Shares will be determined by the Issuer promptly after the end of the Applicable Conversion Reference
Period. 
 The Issuer agrees, and by acceptance of a beneficial interest in a Security each Holder and any beneficial owner of a Security
shall be deemed to agree, to treat, for United States federal income tax purposes, the fair market value of the Common Stock received upon the conversion of a Security (together with any cash payment in lieu of fractional shares) as a contingent
payment on the Security for purposes of Treasury Regulation Section 1.1275-4(b). 
  

 59 

 If a Holder converts more than one Security at the same time, the Principal Return and the Net Shares, if
any, shall be based on the aggregate Principal Amount of Securities converted. 
 Upon surrender of a Security that is converted in part, the
Issuer shall execute, and the Trustee shall authenticate and deliver to the Holder, a new Security equal in principal amount equal to the Principal Amount of the unconverted portion of the Security surrendered. 
 Section 12.08. Fractional Shares. The Issuer shall not deliver a fractional share of Common Stock upon conversion of a Security.
Instead, the Issuer will deliver cash for the current market value of the fractional share. The current market value of a fractional share of Common Stock shall be determined, to the nearest 1/1,000th of a share, by multiplying the Applicable Stock
Price in effect with respect to the applicable Conversion Date of a full share of Common Stock by the fractional amount and rounding the product to the nearest whole cent. 
 Section 12.09. Taxes on Conversion. If a Holder converts a Security, the Issuer shall pay any documentary, stamp or similar issue or
transfer tax due on the delivery of shares of Common Stock, if any, upon such conversion. However, the Holder shall pay any such tax which is due because the Holder requests the shares to be delivered in a name other than the Holder’s name. The
Conversion Agent may refuse to deliver the certificate representing the Common Stock, if any, being delivered in a name other than the Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax which will be due because
the shares are to be delivered in a name other than the Holder’s name. Nothing herein shall preclude any tax withholding required by law or regulation. 
 Section 12.10. Reservation of Shares, Shares to Be Fully Paid; Compliance with Governmental Requirements; Listing of Common Stock. 
 (a) Before taking any action which would cause an adjustment increasing the Conversion Rate to an amount that would cause the Conversion Price to be
reduced below the then par value, if any, of the shares of Common Stock deliverable upon conversion of the Securities, the Issuer will take all corporate action which may, in the opinion of its counsel, be necessary in order that the Issuer may
validly and legally deliver shares of such Common Stock at such adjusted Conversion Rate. 
 (b) (i) The Issuer covenants that all
shares of Common Stock which may be delivered upon conversion of Securities shall have been duly authorized and upon issue and delivery in accordance with the terms of this Indenture shall be validly issued, fully paid and non-assessable by the
Issuer and free from all taxes, Liens, preemptive or similar rights and charges with respect to the issue thereof. 
  

 60 

 (ii) The Issuer covenants that, if any shares of Common Stock to be provided for the
purpose of conversion of Securities hereunder require registration with or approval of any governmental authority under any federal or state law before such shares may be validly issued upon conversion, it will in good faith and as expeditiously as
possible, to the extent then permitted by the rules and interpretations of the Securities and Exchange Commission (or any successor thereto), endeavor to secure such registration or approval, as the case may be. 
 (c) The Issuer further covenants that, if at any time the Common Stock shall be listed on the NYSE or any other national securities exchange or automated
quotation system, the Issuer will, if permitted by the rules of such exchange or automated quotation system, list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, all Common Stock
issuable upon conversion of the Security; provided, however, that, if the rules of such exchange or automated quotation system permit the Issuer to defer the listing of such Common Stock until the first conversion of the Securities
into Common Stock in accordance with the provisions of this Indenture, the Issuer covenants to list such Common Stock issuable upon conversion of the Securities in accordance with the requirements of such exchange or automated quotation system at
such time. 
 Section 12.11. Adjustment of Conversion Rate. The Base Conversion Rate shall be adjusted from time to time
by the Issuer as follows: 
 (a) In case the Issuer shall hereafter pay a dividend or make a distribution to all holders of the outstanding
Common Stock in shares of Common Stock, the Base Conversion Rate shall be increased so that the same shall equal the rate determined by multiplying the Base Conversion Rate in effect at the opening of business on the date following the date fixed
for the determination of stockholders entitled to receive such dividend or other distribution by a fraction, 
 (i) the
numerator of which shall be the sum of the number of shares of Common Stock outstanding at the close of business on the date fixed for the determination of stockholders entitled to receive such dividend or other distribution plus the total number of
shares of Common Stock constituting such dividend or other distribution; and 
 (ii) the denominator of which shall be the
number of shares of Common Stock outstanding at the close of business on the date fixed for such determination, 
 such increase to become effective
immediately after the opening of business on the day following the date fixed for such determination. If any dividend or distribution of the type described in this Section 12.11(a) is declared but not so paid or made, the Base Conversion Rate
shall again be adjusted to the Base Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
  

 61 

 (b) In case the Issuer shall issue rights or warrants to all holders of its outstanding shares of Common
Stock entitling them (for a period expiring within forty-five (45) days after the date fixed for determination of stockholders entitled to receive such rights or warrants) to subscribe for or purchase shares of Common Stock at a price per share
less than the average of the Closing Sale Prices of the Common Stock for the 10 Trading Days preceding the declaration date for such distribution, the Base Conversion Rate shall be increased so that the same shall equal the rate determined by
multiplying the Base Conversion Rate in effect immediately prior to the date fixed for determination of stockholders entitled to receive such rights or warrants by a fraction, 
 (i) the numerator of which shall be the number of shares of Common Stock outstanding on the date fixed for determination of stockholders
entitled to receive such rights or warrants plus the total number of additional shares of Common Stock offered for subscription or purchase, and 
 (ii) the denominator of which shall be the sum of the number of shares of Common Stock outstanding at the close of business on the date fixed for determination of stockholders entitled to receive such rights or
warrants plus the number of shares that the aggregate offering price of the total number of shares so offered would purchase at a price equal to the average of the Closing Sale Prices of the Common Stock for the 10 Trading Days preceding the
declaration date for such distribution. 
 Such adjustment shall be successively made whenever any such rights or warrants are issued, and
shall become effective immediately after the opening of business on the day following the date fixed for determination of stockholders entitled to receive such rights or warrants. To the extent that shares of Common Stock are not delivered after the
expiration of such rights or warrants, the Base Conversion Rate shall be readjusted to the Base Conversion Rate that would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of delivery of
only the number of shares of Common Stock actually delivered. If such rights or warrants are not so issued, the Base Conversion Rate shall again be adjusted to be the Base Conversion Rate that would then be in effect if such date fixed for the
determination of stockholders entitled to receive such rights or warrants had not been fixed. In determining whether any rights or warrants entitle the holders to subscribe for or purchase shares of Common Stock at a price less than the average of
the Closing Sale Prices of the Common Stock for the 10 Trading Days preceding the declaration date for such distribution, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any
consideration received by the Issuer for such rights or warrants and any amount payable on exercise or exchange thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 
  

 62 

 (c) In case outstanding shares of Common Stock shall be subdivided into a greater number of shares of
Common Stock, the Base Conversion Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and conversely, in case outstanding shares of Common Stock
shall be combined into a smaller number of shares of Common Stock, the Base Conversion Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such
increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 
 (d) In case the Issuer shall, by dividend or otherwise, distribute to all holders of its Common Stock shares of any class of its capital stock or
evidences of its indebtedness or assets (including securities, but excluding (x) any rights or warrants referred to in Section 12.11(b), (y) any dividend or distribution (I) paid exclusively in cash or (II) referred to in
Section 12.11(a) and (z) any distribution referred to in Section 12.11(g)) (any of the foregoing hereinafter in this Section 12.11(d) called the “Distributed Property”)), then, in each such case, the Base
Conversion Rate shall be increased so that the same shall be equal to the rate determined by multiplying the Base Conversion Rate in effect on the Record Date with respect to such distribution by a fraction, 
 (i) the numerator of which shall be the Current Market Price on such Record Date; and 
 (ii) the denominator of which shall be the Current Market Price on such Record Date less the Fair Market Value (as determined by the Board
of Directors, whose determination shall be conclusive, and described in a resolution of the Board of Directors) on the Record Date of the portion of the Distributed Property so distributed applicable to one share of Common Stock, 
 such adjustment to become effective immediately prior to the opening of business on the day following such Record Date; provided that if the then Fair Market
Value (as so determined) of the portion of the Distributed Property so distributed applicable to one share of Common Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of the foregoing adjustment, adequate
provision shall be made so that each Holder shall have the right to receive upon conversion the amount of Distributed Property such Holder would have received had such holder converted each Security on the Record Date. If such dividend or
distribution is not so paid or made, the Base Conversion Rate shall again be adjusted to be the Base Conversion Rate that would then be in effect if such dividend or distribution had not been declared. If 

  

 63 

 
the Board of Directors determines the Fair Market Value of any distribution for purposes of this Section 12.11(d) by reference to the actual or when
issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the Current Market Price on the applicable Record Date. 
 Rights or warrants distributed by the Issuer to all holders of Common Stock entitling the holders thereof to subscribe for or purchase shares of the
Issuer’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares
of Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 12.11 (and no adjustment to the Base
Conversion Rate under this Section 12.11 will be required) until the occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the
Base Conversion Rate shall be made under this Section 12.11(d). If any such right or warrant, including any such existing rights or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which
such rights 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 record date with
respect to new rights or warrants with such rights (and a termination or expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights
or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Base Conversion Rate under this
Section 12.11 was made, (1) in the case of any such rights or warrants that shall all have been redeemed or repurchased without exercise by any holders thereof, the Base Conversion Rate shall be readjusted upon such final redemption or
repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or repurchase price received by a holder or holders of Common Stock with respect to such
rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of Common Stock as of the date of such redemption or repurchase, and (2) in the case of such rights or warrants that shall have expired or been
terminated without exercise thereof, the Base Conversion Rate shall be readjusted as if such expired or terminated rights and warrants had not been issued. 
 For purposes of this Section 12.11(d) and Section 12.11(a) and (b), any dividend or distribution to which this Section 12.11(d) is applicable that also includes shares of Common Stock, or rights or
warrants to subscribe for or purchase shares of Common Stock (or both), shall be deemed instead to be (1) a 

  

 64 

 
dividend or distribution of the evidences of indebtedness, assets or shares of capital stock other than such shares of Common Stock or rights or warrants
(and any Base Conversion Rate adjustment required by this Section 12.11(d) with respect to such dividend or distribution shall then be made) immediately followed by (2) a dividend or distribution of such shares of Common Stock or such
rights or warrants (and any further Base Conversion Rate adjustment required by Sections 12.11(a) and 12.11(b) with respect to such dividend or distribution shall then be made), except (A) the Record Date of such dividend or distribution shall
be substituted as “the date fixed for the determination of stockholders entitled to receive such dividend or other distribution”, “the date fixed for the determination of stockholders entitled to receive such rights or warrants”
and “the date fixed for such determination” within the meaning of Section 12.11(a) and 12.11(b) and (B) any shares of Common Stock included in such dividend or distribution shall not be deemed “outstanding at the close of
business on the date fixed for such determination” within the meaning of Section 12.11(a). 
 (e) In case the Issuer shall, by
dividend or otherwise, distribute to all holders of its Common Stock cash, excluding any dividend or distribution in connection with the liquidation, dissolution or winding up of the Issuer, whether voluntary or involuntary, the Base Conversion Rate
shall be increased so that the same shall equal the rate determined by multiplying the Base Conversion Rate in effect immediately prior to the close of business on such record date by a fraction, 
 (i) the numerator of which shall be the Reference Market Price on such record date; and 
 (ii) the denominator of which shall be the Reference Market Price on such record date less the amount of cash so distributed applicable to
one share of Common Stock, 
 such adjustment to be effective immediately prior to the opening of business on the day following the record date;
provided that if the portion of the cash so distributed applicable to one share of Common Stock is equal to or greater than the Reference Market Price on the record date, in lieu of the foregoing adjustment, adequate provision shall be made so
that each Holder shall have the right to receive upon conversion the amount of cash such holder would have received had such holder converted each Security on the Record Date. If such dividend or distribution is not so paid or made, the Base
Conversion Rate shall again be adjusted to be the Base Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (f) In case a tender or exchange offer made by the Issuer or any Subsidiary for all or any portion of the Common Stock shall expire and such tender or exchange offer (as amended upon the expiration thereof) shall
require the payment to stockholders of consideration per share of Common Stock having 

  

 65 

 
a Fair Market Value (as determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of
Directors) that as of the last time (the “Expiration Time”) tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended) exceeds the Closing Sale Price of a share of Common Stock on the Trading
Day next succeeding the Expiration Time, the Base Conversion Rate shall be increased so that the same shall equal the rate determined by multiplying the Base Conversion Rate in effect immediately prior to the Expiration Time by a fraction,

 (i) the numerator of which shall be the sum of (x) the Fair Market Value (determined as aforesaid) of the aggregate
consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or converted and not withdrawn as of the Expiration Time (the shares deemed so
accepted up to any such maximum, being referred to as the “Purchased Shares”) and (y) the product of the number of shares of Common Stock outstanding (less any Purchased Shares) at the Expiration Time and the Closing Sale Price
of a share of Common Stock on the Trading Day next succeeding the Expiration Time, and 
 (ii) the denominator of which shall
be the number of shares of Common Stock outstanding (including any tendered or converted shares) at the Expiration Time multiplied by the Closing Sale Price of a share of Common Stock on the Trading Day next succeeding the Expiration Time,

 such adjustment to become effective immediately prior to the opening of business on the day following the Expiration Time. If the Issuer is obligated to
purchase shares pursuant to any such tender or exchange offer, but the Issuer is permanently prevented by applicable law from effecting any such purchases or all such purchases are rescinded, the Base Conversion Rate shall again be adjusted to be
the Base Conversion Rate that would then be in effect if such tender or exchange offer had not been made. 
 (g) If the Issuer pays a
dividend or makes a distribution to all holders of its Common Stock consisting of capital stock of any class or series, or similar equity interests, of or relating to a Subsidiary or other business unit of the Issuer, the Base Conversion Rate shall
be increased so that the same shall be equal to the rate determined by multiplying the Base Conversion Rate in effect on the Record Date with respect to such distribution by a fraction, 
 (i) the numerator of which shall be the sum of (A) the average of the Closing Sale Prices of the Common Stock for the ten
(10) Trading Days commencing on and including the fifth Trading Day after the date on which “ex-dividend trading” commences for such dividend or 

  

 66 

 
distribution on The New York Stock Exchange or such other national or regional exchange or market which such securities are then listed or quoted (the
“Ex-Dividend Date”) plus (B) the fair market value of the securities distributed in respect of each share of Common Stock for which this Section 12.11(g) applies and shall equal the number of securities distributed
in respect of each share of Common Stock multiplied by the average of the closing sale prices of those securities distributed for the ten (10) Trading Days commencing on and including the fifth Trading Day after the Ex-Dividend Date; and

 (ii) the denominator of which shall be the average of the Closing Sale Prices of the Common Stock for the ten
(10) Trading Days commencing on and including the fifth Trading Day after the Ex-Dividend Date, 
 such adjustment to become effective immediately prior
to the opening of business on the day following fifteenth Trading Day after the Ex-Dividend Date; provided that if (x) the average of the Closing Sale Prices of the Common Stock for the ten (10) Trading Days commencing on and
including the fifth Trading Day after the Ex-Dividend Date minus (y) the fair market value of the securities distributed in respect of each share of Common Stock for which this Section 12.11(g) applies (as calculated in
Section 12.11(g)(i)(B) above) is less than $1.00, then the adjustment provided by for by this Section 12.11(g) shall not be made and in lieu thereof the provisions of Section 12.14 shall apply to such distribution. 
 (h) In case of a tender or exchange offer made by a Person other than the Issuer or any Subsidiary for an amount that increases the offeror’s
ownership of Common Stock to more than twenty-five percent (25%) of the Common Stock outstanding and shall involve the payment by such Person of consideration per share of Common Stock having a Fair Market Value (as determined by the Board of
Directors, whose determination shall be conclusive, and described in a resolution of the Board of Directors) that as of the last time (the “Offer Expiration Time”) tenders or exchanges may be made pursuant to such tender or exchange
offer (as it shall have been amended) that exceeds the Current Market Price of the Common Stock on the Trading Day next succeeding the Offer Expiration Time, and in which, as of the Offer Expiration Time the Board of Directors is not recommending
rejection of the offer, the Base Conversion Rate shall be adjusted so that the same shall equal the rate determined by multiplying the Base Conversion Rate in effect immediately prior to the Offer Expiration Time by a fraction, 
 (i) the numerator of which shall be the sum of (x) the Fair Market Value of the aggregate consideration payable to stockholders based
on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged and not withdrawn as of the Offer Expiration Time (the shares deemed so 

  

 67 

 
accepted, up to any such maximum, being referred to as the “Accepted Purchased Shares”) and (y) the product of the number of shares of
Common Stock outstanding (less any Accepted Purchased Shares) at the Offer Expiration Time and the Closing Sale Price of the Common Stock on the Trading Day next succeeding the Offer Expiration Time, and 
 (ii) the denominator of which shall be the number of shares of Common Stock outstanding (including any tendered or exchanged shares) at
the Offer Expiration Time multiplied by the Closing Sale Price of the Common Stock on the Trading Day next succeeding the Offer Expiration Time, 
 such adjustment to become effective immediately prior to the opening of business on the day following the Offer Expiration Time. In the event that such Person is obligated to purchase shares pursuant to any such tender or exchange offer,
but such Person is permanently prevented by applicable law from effecting any such purchases or all such purchases are rescinded, the Base Conversion Rate shall again be adjusted to be the Base Conversion Rate that would then be in effect if such
tender or exchange offer had not been made. Notwithstanding the foregoing, the adjustment described in this Section shall not be made if, as of the Offer Expiration Time, the offering documents with respect to such offer disclose a plan or intention
to cause the Issuer to engage in any transaction described in Section 12.04. 
 (i) If any adjustment or readjustment is made to the
Base Conversion Rate pursuant to this Section 12.11, the same proportional adjustment shall be made to the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate. 
 (j) For purposes of this Section 12.11, the following terms shall have the meaning indicated: 
 (i) “Current Market Price” shall mean the average of the daily Closing Sale Prices per share of Common Stock for the ten
consecutive Trading Days selected by the Issuer commencing no more than 30 Trading Days before and ending not later than the earlier of such date of determination and the Trading Day before the “ex” date with respect to the
issuance, distribution, subdivision or combination requiring such computation immediately prior to the date in question. For purpose of this paragraph, the term “ex” date, (1) when used with respect to any issuance or
distribution, means the first date on which the Common Stock trades, regular way, on the relevant exchange or in the relevant market from which the Closing Sale Price was obtained without the right to receive such issuance or distribution, and
(2) when used with respect to any subdivision or combination of shares of Common Stock, means the first date on which the Common Stock trades, regular way, on such 

  

 68 

 
exchange or in such market after the time at which such subdivision or combination becomes effective. 
 If another issuance, distribution, subdivision or combination to which Section 12.11 applies occurs during the period applicable for
calculating “Current Market Price” pursuant to the definition in the preceding paragraph, “Current Market Price” shall be calculated for such period in a manner determined by the Board of Directors to reflect the
impact of such issuance, distribution, subdivision or combination on the Closing Sale Price of the Common Stock during such period. 
 (ii) “Fair Market Value” shall mean the amount which a willing buyer would pay a willing seller in an arm’s-length transaction. 
 (iii) “Record Date” shall mean, 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 (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date
fixed for determination of stockholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 
 (iv) “Reference Market Price” shall mean the average of the daily Closing Sale Prices per share of Common Stock for the
ten consecutive Trading Days ending on the Trading Day before the “ex” date with respect to the issuance, distribution, subdivision or combination requiring such computation immediately prior to the date in question. For purpose of this
paragraph, the term “ex” date, (1) when used with respect to any issuance or distribution, means the first date on which the Common Stock trades, regular way, on the relevant exchange or in the relevant market from which the Closing
Sale Price was obtained without the right to receive such issuance or distribution, and (2) when used with respect to any subdivision or combination of shares of Common Stock, means the first date on which the Common Stock trades, regular way,
on such exchange or in such market after the time at which such subdivision or combination becomes effective. 
 (k) The Issuer may make such
increases in the Base Conversion Rate in addition to those required by Section 12.11(a), (b), (c), (d), (e), (f), (g) or (i) as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common
Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes. 
 To the extent permitted by applicable law, the Issuer from time to time may increase the Base Conversion Rate by any amount for any period of time if

  

 69 

 
the period is at least twenty (20) days, the increase is irrevocable during the period and the Board of Directors shall have made a determination that
such increase would be in the best interests of the Issuer, which determination shall be conclusive. Whenever the Base Conversion Rate is increased pursuant to the preceding sentence, the Issuer shall mail to Holders and file with the Trustee a
notice of the increase at least fifteen (15) days prior to the date the increased Base Conversion Rate takes effect, and such notice shall state the increased Base Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum
Conversion Rate and any Fixed Conversion Rate) and the period during which they will be in effect. 
 (l) All calculations under this Article
12 shall be made by the Issuer and shall be made to the nearest cent or to the nearest one ten thousandth (1/10,000) of a share, as the case may be. No adjustment need be made for rights to purchase Common Stock pursuant to an Issuer plan for
reinvestment of dividends or interest or, except as set forth in this Article 12, for any issuance of Common Stock or convertible securities or rights to purchase Common Stock or convertible securities. To the extent the Securities become
convertible into cash, assets, property or securities (other than capital stock of the Issuer), subject to Section 12.14, no adjustment need be made thereafter as to the cash, assets, property or such securities. Interest will not accrue on any
cash into which the Securities are convertible. 
 (m) Whenever the Base Conversion Rate (and, as applicable, the Incremental Share Factor,
the Maximum Conversion Rate and any Fixed Conversion Rate) is adjusted as herein provided, the Issuer shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate setting forth the Base
Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate) after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a
Responsible Officer of the Trustee or Conversion Agent shall have received such Officers’ Certificate, the Trustee or Conversion Agent, as the case may be, shall not be deemed to have knowledge of any adjustment of the Base Conversion Rate
(and, as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate) and may assume that the last Base Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any
Fixed Conversion Rate) of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Issuer shall prepare a notice of such adjustment of the Base Conversion Rate (and, as applicable, the Incremental Share Factor, the
Maximum Conversion Rate and any Fixed Conversion Rate) setting forth the adjusted Base Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate) and the date on which each
adjustment becomes effective and shall mail such notice of such adjustment of the Base Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum 

  

 70 

 Conversion Rate and any Fixed Conversion Rate) to the Holder of each Security at his last address appearing on the
Security Register within twenty (20) days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 
 (n) In any case in which this Section 12.11 provides that an adjustment shall become effective immediately after (1) a record date or Record Date for an event, (2) the date fixed for the determination
of stockholders entitled to receive a dividend or distribution pursuant to Section 12.11(a), (3) a date fixed for the determination of stockholders entitled to receive rights or warrants pursuant to Section 12.11(b), or (4) the
Expiration Time for any tender or exchange offer pursuant to Section 12.11(f) (each a “Determination Date”), the Issuer may elect to defer until the occurrence of the applicable Adjustment Event (as hereinafter defined)
(x) issuing to the holder of any Security converted after such Determination Date and before the occurrence of such Adjustment Event, the additional shares of Common Stock or other securities issuable upon such conversion by reason of the
adjustment required by such Adjustment Event over and above the Common Stock issuable upon such conversion before giving effect to such adjustment and (y) paying to such holder any amount in cash in lieu of any fraction pursuant to
Section 12.08. For purposes of this Section 12.11(n), the term “Adjustment Event” shall mean: 
 (ii) in any case referred to in clause (1) hereof, the occurrence of such event, 
 (iii) in any case referred
to in clause (2) hereof, the date any such dividend or distribution is paid or made, 
 (iv) in any case referred to in
clause (3) hereof, the date of expiration of such rights or warrants, and 
 (v) in any case referred to in clause
(4) hereof, the date a sale or exchange of Common Stock pursuant to such tender or exchange offer is consummated and becomes irrevocable. 
 (o) For purposes of this Section 12.11, the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Issuer, unless such treasury shares participate in any distribution or dividend
that requires an adjustment pursuant to this Section 12.11, but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. 
 Section 12.12. Other Adjustments. 
 (a) The Issuer shall be entitled to make such increases in the Base Conversion Rate (and, as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate), in addition to those

  

 71 

 
required by Section 12.11, as in its discretion shall determine to be advisable in order that any stock dividends, subdivisions of shares, distributions
of rights to purchase stock or securities or distributions of securities convertible into or exchangeable for stock hereafter made by the Issuer to its stockholders shall not be taxable. 
 (b) To the extent permitted by applicable law, the Issuer from time to time may increase the regular interest rate on the Securities by any amount for
any period of time so long as such increase (i) is effective as of the beginning of an Interest Period, (ii) ceases to be effective as of the end of an Interest Period, (iii) is irrevocable during such period and (iv) the Board
of Directors shall have made a determination that such increase would be in the best interests of the Issuer, which determination shall be conclusive. Whenever the regular interest rate is increased pursuant to the preceding sentence, the Issuer
shall provide notice to Holders of the Securities of such increase at least twenty (20) days prior to the Interest Payment Date on which such increase takes effect, and such notice shall state (x) the increased regular interest rate and
(y) the period during which it will be in effect. 
 Section 12.13. Notice of Certain Transactions. In the event
that: 
 (i) the Issuer takes any action which would require an adjustment in the Conversion Rate; 
 (ii) the Issuer takes any action that requires a supplemental indenture pursuant to Section 12.14; or 
 (iii) there is a dissolution or liquidation of the Issuer; 
 the Issuer shall mail to Holders and file with the Trustee a notice stating the proposed record or effective date, as the case may be. The Issuer shall mail the notice at least fifteen days before such date. Failure
to mail such notice or any defect therein shall not affect the validity of any transaction referred to in clause (i), (ii) or (iii) of this Section 12.13. 
 Section 12.14. Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege. If any of the following events occur, namely (i) any reclassification or change of the
outstanding shares of Common Stock (other than a subdivision or combination to which Section 12.11(c) applies), (ii) any consolidation, merger or combination of the Issuer with another Person as a result of which holders of Common Stock
shall be entitled to receive stock, other securities or other property or assets (including cash) with respect to or in exchange for such Common Stock, or (iii) any sale or conveyance of all or substantially all of the properties and assets of
the Issuer to any other Person as a result of which holders of Common Stock shall be entitled to receive stock, other securities or other property or assets (including cash) with respect to or in exchange for such Common Stock, then: 
  

 72 

 (a) the Issuer or the successor or purchasing corporation, as the case may be, shall execute with the
Trustee a supplemental indenture (which shall comply with the Trust Indenture Act as in force at the date of execution of such supplemental indenture if such supplemental indenture is then required to so comply) providing for the conversion and
settlement of the Securities as set forth in this Indenture. Such supplemental indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article. If, in the case of any
such reclassification, change, consolidation, merger, combination, sale or conveyance, the Exchange Property (as defined below) includes shares of stock or other securities and assets of a corporation other than the successor or purchasing
corporation, as the case may be, in such reclassification, change, consolidation, merger, combination, sale or conveyance, then such supplemental indenture shall also be executed by such other corporation and shall contain such additional provisions
to protect the interests of the holders of the Securities 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 14 herein. 
 (b) Notwithstanding the provisions of Section 12.07, the Conversion Value
with respect to each $1,000 Principal Amount of Securities converted following the effective date of any such transaction, shall be calculated (as provided in clause (d) below) based on the kind and amount of shares of stock and other
securities or property or assets (including cash) received upon such reclassification, change, consolidation, merger, combination sale or conveyance by a holder of Common Stock holding, immediately prior to the transaction, a number of shares of
Common Stock equal to the Conversion Rate immediately prior to such transaction (the “Exchange Property”), assuming such holder of Common Stock did not exercise his rights of election, if any, as to the kind or amount of securities,
cash or other property receivable upon such consolidation, merger, statutory exchange, sale or conveyance (provided that, if the kind or amount of securities, cash or other property receivable upon such consolidation, merger, statutory exchange,
sale or conveyance is not the same for each share of Common Stock in respect of which such rights of election shall not have been exercised (“non-electing share”), then for the purposes of this Section 12.14 the kind and amount
of securities, cash or other property receivable upon such consolidation, merger, statutory exchange, sale or conveyance for each non-electing share shall be deemed to be the kind and amount so receivable per share by a plurality of the non-electing
shares). 
 (c) The Conversion Value in respect of any Securities converted following the effective date of any such transaction shall be
equal to the average of the daily values of the Exchange Property pertaining to such Securities as determined in the next sentence (the “Exchange Property Value”) for each of the five consecutive Trading Days (appropriately adjusted
to take into account the occurrence during such period of stock splits and similar events) beginning 

  

 73 

 
on the later of (A) the second Trading Day immediately following the day the Securities are tendered for conversion and (B) the effective date of
such transaction (the “Exchange Property Weighted Average Price”). For the purpose of determining the value of any Exchange Property: 
 (i) Any shares of common stock of the successor or purchasing corporation or any other corporation that are included in the Exchange Property shall be valued as set forth in Section 12.07 as if such shares were
“Common Stock” using the procedures set forth in the definition of “Closing Sale Price” in Section 1.01; and 
 (ii) Any other property (other than cash) included in the Exchange Property shall be valued in good faith by the Board of Directors or by a New York Stock Exchange member firm selected by the Board of Directors.

 (d) The Issuer shall deliver such Conversion Value to holders of Securities so converted as follows: 
 (i) An amount equal to the Principal Return, determined as set forth in Section 12.07; and 
 (ii) If the Conversion Value of the Securities so converted is greater than the Principal Return, an amount of Exchange Property,
determined as set forth below, equal to such aggregate Conversion Value less the Principal Return (the “Net Exchange Property Amount”). 
 The amount of Exchange Property to be delivered shall be determined by dividing the Net Exchange Property Amount by the Exchange Property Weighted Average Price. If the Exchange Property includes more than one kind of
property, the amount of Exchange Property of each kind to be delivered shall be in the proportion that the Exchange Property Value of such kind of Exchange Property bears to the Exchange Property Value of all the Exchange Property. If the foregoing
calculations would require the Issuer to deliver a fractional share or unit of Exchange Property to a holder of Securities being converted, the Issuer shall deliver cash in lieu of such fractional share or unit based on its Exchange Property
Weighted Average Price. 
 Notwithstanding clauses (b), (c) and (d) above, if the Securities are tendered for conversion prior to
the effective date of any such transaction pursuant to Section 12.07 above, and the Principal Return and Net Shares, if any, have been determined as of the Effective Date of such transaction, then the Issuer shall (i) pay the Principal
Return in cash and (ii) instead of delivering Net Shares, if applicable, deliver an amount of Exchange Property that a holder of Common Stock, holding, immediately prior to the transaction, a number of shares of Common Stock equal to the Net
Shares, would receive, assuming such holder of Common Stock did not exercise his rights of election, if any, as to the 

  

 74 

 
kind or amount of securities, cash or other property receivable upon such consolidation, merger, statutory exchange, sale or conveyance (provided that, if
the kind or amount of securities, cash or other property receivable upon such consolidation, merger, statutory exchange, sale or conveyance is not the same for each non-electing share, then for the purposes of this Section 12.13 the kind and
amount of securities, cash or other property receivable upon such consolidation, merger, statutory exchange, sale or conveyance for each non-electing share shall be deemed to be the kind and amount so receivable per share by a plurality of the
non-electing shares). If the foregoing calculations would require the Company to deliver a fractional share or unit of Exchange Property to a holder of Securities being converted, the Issuer shall deliver cash in lieu of such fractional share or
unit based on the Exchange Property Value (as so determined). 
 The Issuer shall cause notice of the execution of such supplemental
indenture to be mailed to each Holder of Securities, at its address appearing on the Security register, within twenty (20) days after execution thereof and shall issue a press release containing such information and publish such information on
its website on the World Wide Web. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 
 The above provisions of this Section shall similarly apply to successive reclassifications, changes, consolidations, mergers, combinations, sales and conveyances. 
 If this Section 12.14 applies to any event or occurrence, Section 12.11 shall not apply. 
 Section 12.15. Trustee’s Disclaimer. The Trustee shall have no duty to determine when an adjustment under this Article 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, an Officers’ Certificate including the
Officers’ Certificate with respect thereto which the Issuer is obligated to file with the Trustee pursuant to Section 12.11(l). The Trustee makes no representation as to the validity or value of any securities or assets issued upon
conversion of Securities, and the Trustee shall not be responsible for the Issuer’s failure to comply with any provisions of this Article. 
 The Trustee shall not be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture executed pursuant to Section 12.14, but may accept as conclusive evidence of the correctness
thereof, and shall be fully protected in relying upon, the Officers’ Certificate with respect thereto which the Issuer is obligated to file with the Trustee pursuant to Section 12.11(l). 
 Section 12.16. Rights Issued in Respect of Common Stock Issued Upon Conversion. Each share of Common Stock issued upon conversion of
Securities 
  

 75 

 pursuant to this Article 12, if any, shall be entitled to receive the appropriate number of common stock or preferred
stock purchase rights, as the case may be (the “Rights”), if any, that shares of Common Stock are entitled to receive and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in
each case as may be provided by the terms of any shareholder rights agreement adopted by the Issuer, as the same may be amended from time to time (in each case, a “Rights Agreement”). Provided that such Rights Agreement requires
that each share of Common Stock issued upon conversion of Securities at any time prior to the distribution of separate certificates representing the Rights be entitled to receive such Rights, then, notwithstanding anything else to the contrary in
this Article 12, there shall not be any adjustment to the conversion privilege or Base Conversion Rate (and as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate) as a result of the issuance of
Rights, but an adjustment to the Base Conversion Rate (and as applicable, the Incremental Share Factor, the Maximum Conversion Rate and any Fixed Conversion Rate) shall be made pursuant to Section 12.11(d) upon the separation of the Rights from
the Common Stock. 
 Section 12.17. Issuer Determination Final. Any determination that the Issuer or the Board of
Directors must make pursuant to Sections 12.06, 12.07, 12.08, 12.11, 12.12 or 12.14 shall be conclusive. 
 ARTICLE 13 
 PURCHASE AT OPTION OF HOLDERS 
 Section 13.01. Right to Require Purchase. 
 (a) Each Holder has the right to require the Issuer to purchase all or a portion of the Securities held by such Holder on June 9, 2008, 2013, and 2018, or if any such day is not a Business Day, on the immediately
succeeding Business Day (each, a “Purchase Date”). 
 (b) The Issuer shall give notice of each Purchase Date and of the
procedures set forth in Section 13.02 that each Holder must follow to exercise its purchase right to each Holder at its address set forth in the Security Register and to the Depositary, not later than 21 Business Days prior to each Purchase
Date. 
 Section 13.02. Purchase Procedures. If the Holders have the right to require the purchase of Securities pursuant
to Section 13.01, the Issuer shall purchase such Securities for cash at a Purchase Price equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest, including Contingent Interest, if any, to, but excluding, the Purchase
Date (the “Purchase Price”) (provided that if the Purchase Date is any day during the period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on such
Interest Payment Date, 
  

 76 

 any accrued and unpaid interest, Contingent Interest, shall be paid to the Holder of record as of the applicable Regular
Record Date, rather than to the Holder presenting the Security for purchase), at the option of the Holder thereof, upon: 
 (a) delivery to
the Paying Agent by the Holder of a written notice of purchase (a “Purchase Notice”) at any time from the opening of business on the date that is 21 Business Days prior to a Purchase Date until the close of business on such Purchase
Date stating: 
 (i) if a certificated Security has been issued, the certificate number of the Security which the Holder will
deliver to be purchased or if not, such information as may be required under applicable procedures of the Depositary, 
 (ii)
the portion of the Principal Amount of the Security which the Holder will deliver to be purchased, which portion must be $1,000 or an integral multiple thereof, and 
 (iii) that such Security shall be purchased as of the applicable Purchase Date pursuant to this Article 13; and 
 (b) delivery of such Security to the Paying Agent prior to, on or after the Purchase Date (together with all necessary endorsements) at the offices of
the Paying Agent, such delivery being a condition to receipt by the Holder of the Purchase Price therefor; provided, however, that such Purchase Price shall be so paid pursuant to this Article only if the Security so delivered to the Paying
Agent shall conform in all respects to the description thereof in the related Purchase Notice. 
 The Issuer shall purchase from the Holder
thereof, pursuant to this Article, a portion of a Security if the Principal Amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase
of such portion of such Security. 
 Any purchase by the Issuer contemplated pursuant to the provisions of this Article shall be consummated
by the payment of the Purchase Price to be received by the Holder in cash promptly following the later of the Purchase Date and the time of delivery of the Security as set forth in Section 13.04. 
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Purchase Notice contemplated by this Section 13.02
shall have the right to withdraw such Purchase Notice at any time prior to the close of business on the Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 13.03. 
  

 77 

 The Paying Agent shall promptly notify the Issuer of the receipt by it of any Purchase Notice or written
notice of withdrawal thereof. 
 Anything herein to the contrary notwithstanding, in the case of Global Securities, any Purchase Notice may
be delivered or withdrawn and such Securities may be surrendered or delivered for purchase in accordance with the applicable procedures of the Depositary as in effect from time to time. 
 The Issuer may, at its option, specify additional dates on which Holders will have the right to require it to purchase Securities upon written notice to
the Paying Agent, the Trustee and the Holders. Such notice shall specify the additional dates upon which the Issuer shall be required to purchase the Securities at the option of the Holders and shall be delivered to the Paying Agent, the Trustee and
the Holders no less than 25 Business Days prior to the earliest purchase date specified in such notice. 
 Section 13.03.
Effect of Purchase Notice. Upon receipt by the Paying Agent of the Purchase Notice specified in Section 13.02(a), the Holder of the Security in respect of which such Purchase Notice was given shall (unless such Purchase Notice is
withdrawn as specified in the following two paragraphs) thereafter be entitled to receive solely the Purchase Price with respect to such Security. Such Purchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent,
promptly following the later of (x) the Purchase Date with respect to such Security (provided the conditions in Section 13.02 have been satisfied) and (y) the time of delivery of such Security to the Paying Agent by the Holder thereof
in the manner required by Section 13.02. Securities in respect of which a Purchase Notice has been given by the Holder thereof may not be converted pursuant to Article 12 hereof on or after the date of the delivery of such Purchase Notice
unless such Purchase Notice has first been validly withdrawn as specified in the following two paragraphs. 
 A Purchase Notice may be
withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the Purchase Notice at any time prior to the close of business on the applicable Purchase Date specifying: 
 (i) if certificated Securities have been issued, the certificate number of the Security in respect of which such notice of withdrawal is
being submitted, or if not, such information as may be required under appropriate procedures of the Depositary; 
 (ii) the
Principal Amount of the Security with respect to which such notice of withdrawal is being submitted; and 
 (iii) the
Principal Amount, if any, of such Security that remain subject to the original Purchase Notice and have been or will be delivered for purchase by the Issuer. 
  

 78 

 There shall be no purchase of any Securities pursuant to this Article 13 if there has occurred (prior to,
on or after, as the case may be, the giving, by the Holders of such Securities, of the required Purchase Notice) and is continuing an Event of Default (other than a default in the payment of the Purchase Price with respect to such Securities). The
Paying Agent will promptly return to the respective Holders thereof any Securities (x) with respect to which a Purchase Notice has been withdrawn in compliance with this Indenture, or (y) held by it during the continuance of an Event of
Default (other than a default in the payment of the Purchase Price with respect to such Securities) in which case, upon such return, the Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
 Section 13.04. Deposit of Purchase Price. Prior to 11:00 a.m. (New York City time) on the Business Day immediately following the
Purchase Date, the Issuer shall deposit with the Trustee or with the Paying Agent an amount of cash (in immediately available funds if deposited on such Business Day) sufficient to pay the aggregate Purchase Price of all of the Securities or
portions thereof which are to be purchased as of the Purchase Date. The manner in which the deposit required by this Section 13.04 is made by the Issuer shall be at the option of the Issuer, provided, however, that such deposit shall be
made in a manner such that the Trustee or a Paying Agent shall have immediately available funds on the date of deposit. 
 If a Paying Agent
holds, in accordance with the terms hereof, cash sufficient to pay the Purchase Price of any Security for which a Purchase Notice has been tendered and not withdrawn in accordance with this Indenture on the Business Day following the Purchase Date
then, immediately following such Purchase Date, such Security will cease to be outstanding, interest, including Contingent Interest, if any, will cease to accrue and the rights of the Holder in respect thereof shall terminate (other than the right
to receive the Purchase Price as aforesaid). 
 Section 13.05. Securities Purchased in Part. Any Security which is to be
purchased only in part shall be surrendered at the office of the Paying Agent (with, if the Issuer, the Paying Agent or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Issuer, the Paying
Agent or the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) and the Issuer shall execute and the Trustee, or any Authenticating Agent, shall authenticate and deliver to the Holder of such
Security, without service charge except for any taxes to be paid by the Holder in the event a Security is registered under a new name, a new Security or Securities, of any authorized denomination as requested by such Holder in aggregate Principal
Amount equal to, and in exchange for, the portion of the Principal Amount of the Security so surrendered which is not purchased. 
 Section 13.06. Repayment to the Issuer. The Trustee and the Paying Agent shall return to the Issuer any cash that remains unclaimed for two years, 

  

 79 

 
subject to applicable unclaimed property law, together with interest, if any, thereon held by them for the payment of the Purchase Price, provided,
however, that to the extent that the aggregate amount of cash or Common Stock deposited by the Issuer pursuant to Section 13.04 exceeds the aggregate Purchase Price of the Securities or portions thereof which the Issuer is obligated to
purchase as of the Purchase Date, then promptly after the Business Day following the Purchase Date, the Trustee or the Paying Agent, as applicable, shall return any such excess to the Issuer. Thereafter, any Holder entitled to payment must look to
the Issuer for payment as general creditors, unless an applicable abandoned property law designates another Person. 
 ARTICLE 14 

PURCHASE AT OPTION OF HOLDER UPON A
FUNDAMENTAL CHANGE 
 Section 14.01. Right to Require Purchase. 
 (a) If at any time prior to Stated Maturity Date that Securities remain outstanding there shall occur a Fundamental Change, Securities shall be purchased
by the Issuer in integral multiples of $1,000 Principal Amount at the option of the Holders thereof as of the date specified by the Issuer that is not less than 20 Business Days nor more than 35 Business Days after the occurrence of the Fundamental
Change (the “Fundamental Change Purchase Date”) subject to satisfaction by or on behalf of any Holder of the requirements set forth in subsection (c) of this Section 14.01. The purchase price of such Securities (the
“Fundamental Change Purchase Price”) shall be equal to 100% of the Principal Amount of the Securities to be purchased plus accrued and unpaid interest, including Contingent Interest, if any, to, but excluding, the Fundamental Change
Purchase Date, unless such Fundamental Change Purchase Date falls after a Regular Record Date and on or prior to the corresponding Interest Payment Date, in which case the Issuer shall pay the full amount of accrued and unpaid interest, including
Contingent Interest, if any, payable on such Interest Payment Date to the holder of record at the close of business on such Regular Record Date. 
 (b) Within 15 Business Days after the occurrence of a Fundamental Change, the Issuer shall mail a written notice of the Fundamental Change to the Trustee and any Paying Agent and to each Holder. 
 The notice shall include the form of a Fundamental Change Purchase Notice to be completed by the Holder and shall state: 
 (i) the date of such Fundamental Change and, briefly, the events causing such Fundamental Change; 
 (ii) the date by which the Fundamental Change Purchase Notice pursuant to this Section 14.01 must be given; 
  

 80 

 (iii) the Fundamental Change Purchase Date; 
 (iv) the Fundamental Change Purchase Price that will be accrued and payable with respect to the Securities as of the Fundamental Change
Purchase Date; 
 (v) briefly, the conversion rights of the Securities; 
 (vi) the name and address of each Paying Agent and Conversion Agent; 
 (vii) the Base Conversion Rate, the Maximum Conversion Rate and the current Conversion Rate (using the Applicable Stock Price as
determined as of the Business Day prior to the date on which the notice pursuant to this Section 14.01(b) is mailed by the Issuer to the Trustee or Paying Agent and assuming a Conversion Date eight Trading Days prior to such date), and any
adjustments thereto; 
 (viii) that Securities as to which a Fundamental Change Purchase Notice has been given may be
converted pursuant to Article 12 only to the extent that the Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this Indenture; 
 (ix) the procedures that the Holder must follow to exercise rights under this Section 14.01; 
 (x) the procedures for withdrawing a Fundamental Change Purchase Notice, including a form of notice of withdrawal; 
 (xi) that the Holder must satisfy the requirements set forth in the Securities in order to convert the Securities; and 
 (xii) the last date on which the purchase right may be exercised. 
 If any of the Securities is in the form of a Global Security, then the Issuer shall modify such notice to the extent necessary to accord with the
procedures of the Depositary applicable to the purchase of Global Securities. 
 (c) A Holder may exercise its rights specified in subsection
(a) of this Section 14.01 upon delivery of a written notice (which shall be in substantially the form included as an attachment to the Securities and which may be delivered by letter, overnight courier, hand delivery, facsimile
transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Depositary’s customary procedures) of the exercise of such rights (a “Fundamental
Change Purchase Notice”) to any Paying Agent at any time prior to the close of business on the Fundamental Change Purchase Date. 
  

 81 

 The delivery of such Security to any Paying Agent (together with all necessary endorsements) at the
office of such Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Purchase Price. 
 The Issuer shall
purchase from the Holder thereof, pursuant to this Section 14.01, a portion of a Security if the Principal Amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a
Security pursuant to Section 14.01 through Section 14.05 also apply to the purchase of such portion of such Security. 
 Any
purchase by the Issuer contemplated pursuant to the provisions of this Section 14.01 shall be consummated by the delivery of the consideration to be received by the Holder promptly following the later of the Fundamental Change Purchase Date and
the time of delivery of the Security to the Paying Agent in accordance with this Section 14.01 as set forth in Section 14.02. 
 Notwithstanding anything herein to the contrary, any Holder delivering to a Paying Agent the Fundamental Change Purchase Notice contemplated by this subsection (c) shall have the right to withdraw such Fundamental Change Purchase
Notice in whole or as to a portion thereof that is a Principal Amount of $1,000 or an integral multiple thereof at any time prior to the close of business on the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the
Paying Agent in accordance with Section 14.02. 
 A Paying Agent shall promptly notify the Issuer of the receipt by it of any
Fundamental Change Purchase Notice or written withdrawal thereof. 
 Anything herein to the contrary notwithstanding, in the case of Global
Securities, any Fundamental Change Purchase Notice may be delivered or withdrawn and such Securities may be surrendered or delivered for purchase in accordance with the applicable procedures of the Depositary as in effect from time to time.

 Section 14.02. Effect of Fundamental Change Purchase Notice. 
 Upon receipt by any Paying Agent of the Fundamental Change Purchase Notice specified in Section 14.01(c), the Holder of the Security in respect of
which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn as specified below) thereafter be entitled to receive the Fundamental Change Purchase Price with respect to such Security.
Such Fundamental Change Purchase Price shall be paid to such Holder promptly following the later of (a) the Fundamental Change Purchase Date with respect to such Security (provided the conditions in Section 14.01(c) have been satisfied)
and (b) the time of delivery of such Security to a Paying Agent by the Holder thereof in the manner required by Section 14.01(c). Securities in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may
not be converted into Common Stock on or 

  

 82 

 
after the date of the delivery of such Fundamental Change Purchase Notice unless such Fundamental Change Purchase Notice has first been validly withdrawn as
specified in the following paragraph. 
 A Fundamental Change Purchase Notice may be withdrawn by means of a written notice of withdrawal
delivered to the office of the Paying Agent in accordance with the Fundamental Change Purchase Notice at any time prior to the close of business on the applicable Fundamental Change Purchase Date specifying: 
 (i) if certificated Securities have been issued, the certificate numbers for Securities in respect of which such notice of withdrawal is
being submitted, or if not, such information as required by the Depositary; 
 (ii) the Principal Amount, in integral
multiples of $1,000, of the Securities with respect to which such notice of withdrawal is being submitted; and 
 (iii) the
Principal Amount, if any, of such Securities that remain subject to the original Fundamental Change Purchase Notice and have been or will be delivered for purchase by the Issuer. 
 There shall be no purchase of any Securities pursuant to this Article if there has occurred (prior to, on or after, as the case may be, the giving, by
the Holders of such Securities, of the required Fundamental Change Purchase Notice) and is continuing an Event of Default (other than a default in the payment of the Fundamental Change Purchase Price with respect to such Securities). The Paying
Agent will promptly return to the respective Holders thereof any Securities (x) with respect to which a Fundamental Change Purchase Notice has been withdrawn in compliance with this Indenture, or (y) held by it during the continuance of an
Event of Default (other than a default in the payment of the Fundamental Change Purchase Price with respect to such Securities) in which case, upon such return, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been
withdrawn. 
 Section 14.03. Deposit of Fundamental Change Purchase Price. On or before 11:00 a.m. New York City time on the
Business Day immediately following the Fundamental Change Purchase Date, the Issuer shall deposit with the Trustee or with a Paying Agent an amount of cash (in immediately available funds if deposited on such Business Day) sufficient to pay the
aggregate Fundamental Change Purchase Price of all the Securities or portions thereof that are to be purchased as of such Fundamental Change Purchase Date. The manner in which the deposit required by this Section 14.03 is made by the Issuer
shall be at the option of the Issuer, provided, however, that such deposit shall be made in a manner such that the Trustee or a Paying Agent shall have immediately available funds on the date of such deposit. 
  

 83 

 If a Paying Agent holds, in accordance with the terms hereof, money sufficient to pay the Fundamental
Change Purchase Price of any Security for which a Fundamental Change Purchase Notice has been tendered (and not withdrawn in accordance with this Indenture) on the Business Day following the Fundamental Change Purchase Date then, immediately
following the Fundamental Change Purchase Date, such Security will cease to be outstanding, interest, including Contingent Interest, if any, will cease to accrue and the rights of the Holder in respect thereof shall terminate (other than the right
to receive the Fundamental Change Purchase Price). The Issuer shall publicly announce the Principal Amount of Securities purchased as a result of such Fundamental Change on or as soon as practicable after the Fundamental Change Purchase Date.

 Section 14.04. Securities Purchased in Part. Any Security that is to be purchased only in part shall be surrendered at
the office of a Paying Agent and promptly after the Fundamental Change Purchase Date the Issuer shall execute and the Trustee, or any Authenticating Agent, shall authenticate and deliver to the Holder of such Security, without service charge (other
than amounts to be paid in respect of applicable transfer taxes), a new Security or Securities, of such authorized denomination or denominations in integral multiples of $1,000 Principal Amount as may be requested by such Holder, in aggregate
Principal Amount equal to, and in exchange for, the portion of the Principal Amount of the Security so surrendered that is not purchased. 
 Section 14.05. Repayment to the Issuer. The Trustee and the Paying Agent shall return to the Issuer any cash that remains unclaimed for two years, subject to applicable unclaimed property law, together with interest, if any,
thereon held by them for the payment of the Fundamental Change Purchase Price; provided, however, that to the extent that the aggregate amount of cash deposited by the Issuer pursuant to Section 14.03 exceeds the aggregate Fundamental
Change Purchase Price of the Securities or portions thereof which the Issuer is obligated to purchase as of the Fundamental Change Purchase Date, then on the Business Day following the Purchase Date, the Trustee or Paying Agent, as applicable, shall
return any such excess to the Issuer. Thereafter, any Holder entitled to payment must look to the Issuer for payment as general creditors, unless an applicable abandoned property law designates another Person. 
 ARTICLE 15 
 CONTINGENT
INTEREST 
 Section 15.01. Contingent Interest. The Issuer will pay Contingent Interest to Holders during any
Interest Period commencing with the Interest Period ending December 9, 2008, if the average Trading Price of the Securities for the five Trading Day measurement period immediately preceding the first 
  

 84 

 day of the applicable Interest Period (the “Measurement Period”) equals 120% or more of $1,000 Principal
Amount of the Securities as of the first day of such Measurement Period. The amount of Contingent Interest payable per $1,000 Principal Amount of Securities in any Interest Period pursuant to this Section 15.01 will be equal to 0.50% per
annum of the average Trading Price of $1,000 Principal Amount of Securities during the Measurement Period. 
 Section 15.02.
Payment of Contingent Interest. The Issuer shall pay Contingent Interest owed pursuant to Section 15.01 for any Interest Period on the Interest Payment Date immediately succeeding the applicable Interest Period to Holders of Securities
as of the Regular Record Date relating to such Interest Payment Date. 
 Section 15.03. Notice of Contingent Interest.

 (a) As soon as practicable following the first Business Day of an Interest Period for which Contingent Interest will be payable pursuant
to Section 15.01, the Issuer shall issue a press release containing this information and publish the information on its website on the World Wide Web. 
 (b) On any Interest Payment Date on which Contingent Interest is payable pursuant to this Article 15, the Issuer shall deliver notice thereof to the Trustee and issue a press release stating the amount of such
Contingent Interest and setting forth the manner in which such amount was calculated, and publish such information on its website. 
 ARTICLE
16 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS,
DIRECTORS AND 
 EMPLOYEES 
 Section 16.01. Exemption From Individual Liability. No recourse under or upon any obligation, covenant or agreement of this Indenture,
or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer, director or employee, as such, past, present or future, of the Issuer or of any successor corporation,
either directly or through the Issuer, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations of the Issuer, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers, directors or employees, as such, of the Issuer or of
any successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom;
and that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and 
  

 85 

 claims against, every such incorporator, stockholders, officer, director or employee, as such, because of the creation of
the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issue of such Securities. 
 ARTICLE 17 
 MISCELLANEOUS PROVISIONS 
 Section 17.01. Trust Indenture Act Controls. This Indenture is subject to the provisions of the TIA that are required to be a part of this Indenture, and shall, to the extent applicable, be governed
by such provisions. If any provision of this Indenture modifies any TIA provision that may be so modified, such TIA provision shall be deemed to apply to this Indenture as so modified. If any provision of this Indenture excludes any TIA provision
that may be so excluded, such TIA provision shall be excluded from this Indenture. 
 The provisions of TIA §§ 310 through 317 that
impose duties on any Person (including the provisions automatically deemed included unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein. 
 Section 17.02. Notices. Any notice or communication shall be sufficiently given if in writing and delivered in person, by facsimile
and confirmed by overnight courier, or mailed by first-class mail addressed as follows: 
 if to the Issuer: 
 Getty Images, Inc. 
 601 N 34th Street 
 Seattle, Washington 98103 
 Attention:  Treasurer 
 Facsimile:  (206) 925-5621 
 Telephone: (206) 925-5000 
 with a copy to: 
 Weil, Gotshal & Manges LLP 
 201 Redwood Shores Parkway, 5th Floor 
 Redwood Shores, California 94065 
 Attention:  Craig W. Adas 
 Facsimile:  (650) 802-3100 
 Telephone: (650) 802-3000 
  

 86 

 if to the Trustee: 
 The Bank of New York 
 101 Barclay Street, 8W 
 New York, NY 10286 
 Attention: Corporate Trust Administration 
 Facsimile: (212) 815-5707 
 Telephone: (212) 815-5733 
 The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication mailed, first-class, postage prepaid, to a Holder including any notice delivered in connection with TIA § 310(b), TIA
§ 313(c), TIA § 314(a) and TIA § 315(b), shall be mailed to him at his address as set forth on the Security register and shall be sufficiently given to him if so mailed within the time prescribed. To the extent required by the TIA,
any notice or communication shall also be mailed to any Person described in TIA § 313(c). 
 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. Except for a notice to the Trustee, which is deemed given only when received, if a notice or communication is mailed in the manner provided above, it is
duly given, whether or not the addressee receives it. 
 Section 17.03. Communications by Holders with Other Holders.
Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Securities. The Issuer, the Trustee, the Registrar and any other person shall have the protection of TIA § 312(c).

 Section 17.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the
Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: 
 (a) an Officers’ Certificate in form and substance satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
complied with; and 
 (b) an Opinion of Counsel in form and substance satisfactory to the Trustee stating that, in the opinion of such
counsel, all such conditions precedent have 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. 
  

 87 

 Section 17.05. Statements Required in Certificate. Each certificate with respect to
compliance with a condition or covenant provided for in this Indenture shall include: 
 (a) a statement that the person making such
certificate has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon
which the statements contained in such certificate are based; 
 (c) a statement that, in the opinion of such person, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 17.06. Rules by Trustee, Paying Agent, Conversion Agent Registrar. The Trustee may make reasonable rules for action by or at a meeting of Holders. The Paying Agent, Conversion Agent or Registrar
may make reasonable rules for its functions. 
 Section 17.07. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL
GOVERN THIS INDENTURE AND THE SECURITIES WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 Section 17.08. No Recourse Against Others. No director, officer, employee, incorporator or stockholder of the Issuer, as such, shall
have any liability for any obligations of the Issuer under the Securities or 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 the issuance of the Securities. 
 Section 17.09.
Successors. All agreements of the Issuer in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 17.10. Counterpart Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. 
  

 88 

 Section 17.11. Severability. In case any provision 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, and a Holder shall have no claim therefor against any party hereto.

 Section 17.12. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Issuer or a Subsidiary of the Issuer. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 17.13. Legal Holidays. If any Interest Payment Date falls on a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day. If the Stated
Maturity Date, Redemption Date, Fundamental Change Purchase Date or Purchase Date of a Security would fall on a day that is not a Business Day, the required payment of interest, if any, and principal will be made on the next succeeding Business Day
and no interest on such payment will accrue for the period from and after the Stated Maturity Date, Redemption Date, Fundamental Change Purchase Date or Purchase Date to such next succeeding Business Day. 
 [Remainder of page intentionally left blank] 
  

 89 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, have executed this Indenture on behalf of the
respective parties hereto as of the date first above written. 
  

					
	GETTY IMAGES, INC.
		
	By:	 	/s/    Elizabeth J. Huebner
		 	Name:	 	Elizabeth J. Huebner
		 	Title:	 	Senior Vice President and
Chief Financial Officer

					
	THE BANK OF NEW YORK
		
	By:	 	/s/    Daren DiNicola
		 	Name:	 	Daren DiNicola
		 	Title:	 	Authorized Signatory

 EXHIBIT A 
 [FORM OF FACE OF GLOBAL SECURITY] 
 FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED, THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT AND THE ISSUE DATE OF THIS SECURITY IS DECEMBER 16, 2004. IN ADDITION, THIS SECURITY IS SUBJECT TO UNITED STATES FEDERAL INCOME TAX REGULATIONS GOVERNING CONTINGENT
PAYMENT DEBT INSTRUMENTS. FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE, THE COMPARABLE YIELD OF THIS SECURITY IS 9.25%, COMPOUNDED SEMI-ANNUALLY (WHICH WILL BE TREATED AS THE YIELD TO MATURITY FOR UNITED STATES FEDERAL
INCOME TAX PURPOSES). 
 GETTY IMAGES, INC. (THE “ISSUER”) AGREES, AND BY ACCEPTING A BENEFICIAL OWNERSHIP INTEREST IN THIS
SECURITY EACH HOLDER AND ANY BENEFICIAL OWNER OF THIS SECURITY WILL BE DEEMED TO HAVE AGREED, FOR UNITED STATES FEDERAL INCOME TAX PURPOSES (1) TO TREAT THIS SECURITY AS A DEBT INSTRUMENT THAT IS SUBJECT TO TREASURY REGULATION SECTION 1.1275-4
(THE “CONTINGENT PAYMENT REGULATIONS”), (2) TO TREAT THE CASH AND FAIR MARKET VALUE OF ANY STOCK RECEIVED UPON ANY CONVERSION OF THIS SECURITY OR UPON A PURCHASE OF THIS SECURITY AT THE HOLDER’S OPTION AS A CONTINGENT PAYMENT FOR
PURPOSES OF THE CONTINGENT PAYMENT REGULATIONS, (3) TO TREAT THE EXCHANGE OF THE SECURITY FOR THE 0.5% CONVERTIBLE SUBORDINATED DEBENTURE DUE 2023 ISSUED BY ISSUER ON JUNE 9, 2003 (“OUTSTANDING DEBENTURE”) AS NOT CONSTITUTING A
“SIGNIFICANT MODIFICATION” OF THE SECURITY WITHIN THE MEANING OF TREASURY REGULATION SECTION 1.1001-3(e), AND (4) TO ACCRUE INTEREST WITH RESPECT TO THE SECURITY AS ORIGINAL ISSUE DISCOUNT ACCORDING TO THE “NONCONTINGENT BOND
METHOD” SET FORTH IN THE CONTINGENT PAYMENT REGULATIONS IN THE SAME MANNER AND AMOUNTS AS WAS APPLICABLE TO THE OUTSTANDING DEBENTURE, AND TO BE BOUND BY THE ISSUER’S DETERMINATION OF THE “COMPARABLE YIELD” AND “PROJECTED
PAYMENT SCHEDULE,” WITHIN THE MEANING OF THE CONTINGENT PAYMENT REGULATIONS, WITH RESPECT TO THIS SECURITY. THE ISSUER AGREES TO PROVIDE PROMPTLY TO THE HOLDER OF THIS SECURITY, UPON WRITTEN REQUEST, THE ISSUE PRICE, AMOUNT OF TAX ORIGINAL
ISSUE DISCOUNT, ISSUE DATE, YIELD TO MATURITY, COMPARABLE YIELD AND PROJECTED PAYMENT 
  

 A-1 

 SCHEDULE. ANY SUCH WRITTEN REQUEST SHOULD BE SENT TO THE ISSUER AT THE FOLLOWING ADDRESS: GETTY IMAGES, INC. 601 N. 34TH
STREET, SEATTLE, WASHINGTON 98103 ATTENTION: TREASURER. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (THE “DEPOSITORY,” WHICH INCLUDES ANY SUCCESSOR DEPOSITARY FOR THE CERTIFICATES) TO THE ISSUER 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 (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY, AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  

 A-2 

 GETTY IMAGES, INC. 
 0.5% Convertible Subordinated Debentures, Series B due 2023 
  

			
	 No. R-1
	  	 Principal Amount: $263,000,000 (or such lesser amount
 as shown on Schedule I hereto)

	 Issue Date: December 16, 2004
	  	CUSIP: 374276 AH6

 GETTY IMAGES, INC, a Delaware corporation (the “Issuer”), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the Principal Amount (as defined in the Indenture referred to on the reverse side of this Security) on June 9, 2023. 
 This Security shall bear interest as specified on the reverse side of this Security and in the Indenture. Contingent Interest (as defined in the
Indenture referred to on the reverse side of this Security), if any, on this Security, will be payable as specified on the reverse side of this Security and in the Indenture. This Security is convertible and is subject to redemption at the option of
the Issuer or purchase at the option of the Holder hereof, all as specified on the reverse side of this Security and in the Indenture. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 A-3 

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

			
	 GETTY IMAGES, INC.

	  
  
 By:
	 	  
		 	Name:
		 	Title:

  

 A-4 

 This is one of the 0.5% Convertible Subordinated Debentures, Series B due 2023 described in the
within-mentioned Indenture. 
 Dated: December 16, 2004 
  

			
	 THE BANK OF NEW YORK, as Trustee

	  
 By:
	 	  
		 	Name:
		 	Title:

  

 A-5 

 [FORM OF REVERSE SIDE OF SECURITY] 
 0.5% Convertible Subordinated Debentures, Series B due 2023 
 This Security is one of a
duly authorized issue of securities of the Issuer (herein called the “Securities”) limited in aggregate Principal Amount to $263,000,000, issued under an Indenture, dated as of December 16, 2004 (the
“Indenture”), between the Issuer and The Bank of New York, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Capitalized terms used and not otherwise defined in this Security are used as defined in the Indenture. 
 1.
Interest. 
 This Security will bear interest from December 16, 2004 or from the most recent date to which interest has been paid or
duly provided for, semi-annually in arrears on June 9 and December 9 of each year (each, an “Interest Payment Date”), subject to Section 17.13 of the Indenture, commencing June 9, 2005, at the rate per annum
equal to 0.5%. Interest on this Security shall be calculated on the basis of a 360-day year and the actual number of days elapsed during the related Interest Period. Interest payable on this Security on any Interest Payment Date will include
interest for the immediately preceding Interest Period. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the June 1 or December 1, as the case may be, immediately preceding the relevant Interest Payment Date. Any
interest that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the registered Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and
may be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Issuer, notice whereof shall
be given to the Holders of Securities not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be
listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
  

 A-6 

 2. Ranking and Subordination 
 The Issuer agrees, and each Holder by accepting any Security agrees, that the Indebtedness evidenced by the Securities is subordinated in right of
payment, to the extent and in the manner provided in Article 5 of the Indenture, to the payment when due of all Senior Indebtedness of the Issuer and that such subordination is for the benefit of and enforceable by the holders of Senior
Indebtedness. The Securities shall in all respects rank pari passu with all other Subordinated Indebtedness of the Issuer, and only Indebtedness of the Issuer that is Senior Indebtedness will rank senior to the Securities in accordance with
the provisions set forth herein. 
 3. Contingent Interest. 
 From and after the Interest Period ending December 9, 2008, the Issuer will pay Contingent Interest on this Security under the circumstances and in the amounts described in Article 14 of the Indenture. Such
Contingent Interest, if any, shall be payable semi-annually in arrears on each Interest Payment Date to the Holder of this Security as of the close of business on the Regular Record Date relating to such Interest Payment Date. 
 4. Interest on Overdue Amounts. 
 If the
Principal Amount hereof or any portion of such Principal Amount is not paid when due (whether upon acceleration pursuant to Section 4.02 of the Indenture, upon the dates set for payment of the Redemption Price, Purchase Price or Fundamental
Change Purchase Price, upon the Stated Maturity Date or upon Conversion of this Security) or if interest due hereon, including Contingent Interest, if any (or any portion of such interest), is not paid when due, then in each such case the overdue
amount shall, to the extent permitted by law, bear interest at the rate then borne by this Security, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has
been made or duly provided for. All such interest shall be payable as set forth in the Indenture. 
 5. Method of Payment. 
 Subject to the terms and conditions of the Indenture, the Issuer will make payments in respect of Redemption Price, Purchase Price, Fundamental Change
Purchase Price and at Stated Maturity Date to Holders who surrender Securities to a Paying Agent to collect such payments in respect of the Securities; provided that if any Redemption Date, Purchase Date or Fundamental Change Purchase Date is
any day during the period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on such Interest Payment Date, accrued and unpaid interest, including Contingent Interest, if
any, shall be paid to the Holder of record as of the applicable Regular Record Date. The Issuer will pay cash amounts in money of 
  

 A-7 

 the United States that at the time of payment is legal tender for payment of public and private debts. However, the
Issuer may make such cash payments by check payable in such money; provided that payment by wire transfer of immediately available funds will be required with respect to principal (including Principal Return and premium, if any, upon
conversion) or interest, including Contingent Interest, if any, on all Global Securities and all Securities of Holders of more than $25,000,000 aggregate Principal Amount of Securities that have requested such method of payment and provided wire
transfer instructions to the Issuer or the Paying Agent. If any Interest Payment Date (other than an Interest Payment Date coinciding with the Stated Maturity Date or earlier Redemption Date, Purchase Date or Fundamental Change Purchase Date) falls
on a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day and no interest on such payment will accrue for the period from and after the Interest Payment Date to such next succeeding
Business Day. If the Stated Maturity Date, Redemption Date, Purchase Date or Fundamental Change Purchase Date of this Security would fall on a day that is not a Business Day, the required payment of interest, including Contingent Interest, if any,
and principal will be made on the next succeeding Business Day and no interest, including Contingent Interest, if any, on such payment will accrue for the period from and after the Stated Maturity Date, Redemption Date, Purchase Date or Fundamental
Change Purchase Date to such next succeeding Business Day. 
 6. Paying Agent, Conversion Agent and Registrar. 
 Initially, the Trustee will act as Paying Agent, Conversion Agent and Registrar. The Issuer may appoint and change any Paying Agent, Registrar or
co-registrar without notice, other than notice to the Trustee. The Issuer or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Registrar or co-registrar. 
 7. Indenture. 
 The terms of the Securities
include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as in effect from time to time (the “TIA”). The Securities are subject to all such terms, and Holders are
referred to the Indenture and the TIA for a statement of those terms. 
 8. Redemption at the Option of the Issuer. 
 No sinking fund is provided for the Securities. Prior to June 13, 2008, the Securities shall not be redeemable at the option of the Issuer. On and
after June 13, 2008 until June 12, 2009, the Securities shall be redeemable for cash as a whole, or from time to time in part, at the option of the Issuer at the Redemption Price, if the Closing Sale Price has exceeded, for at least 20
Trading Days in any 30 consecutive Trading Day period ending on the Trading Day 
  

 A-8 

 immediately prior to the date the Issuer mails the notice of redemption, 125% of the Base Conversion Price. Beginning on
June 13, 2009 and until the Stated Maturity Date, the Securities are redeemable for cash as a whole, or from time to time in part, at the option of the Issuer at the Redemption Price, as provided in Article 11 of the Indenture. 
 If the Issuer redeems less than all of the outstanding Securities, the Trustee shall select the Securities to be redeemed (i) by lot; (ii) pro
rata; or (iii) by another method the Trustee considers fair and appropriate. If the Trustee selects a portion of a Holder’s Securities for partial redemption and the Holder converts a portion of the same Securities, the converted portion
shall be deemed, to the extent practicable, to be from the portion selected for redemption. 
 9. Notice of Redemption. 
 Notice of redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of Securities to be redeemed at
the Holder’s registered address. If money sufficient to pay the Redemption Price of all Securities (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent prior to or on the Redemption Date, immediately
after such Redemption Date interest, including Contingent Interest, if any, shall cease to accrue on such Securities or portions thereof. Securities in denominations larger than $1,000 Principal Amount may be redeemed in part but only in integral
multiples of $1,000. 
 10. Purchase By the Issuer at the Option of the Holder. 
 Each Holder has the right to require the Issuer to purchase all or a portion of the Securities held by such Holder on June 9, 2008, 2013, and 2018,
or if any such day is not a Business Day, the next succeeding Business Day (each, a “Purchase Date”). If required by any Holder, the Issuer shall purchase Securities for cash at a Purchase Price equal to 100% of the Principal Amount
thereof, plus accrued and unpaid interest, including Contingent Interest, if any, to, but excluding, the Purchase Date, upon delivery of a Purchase Notice containing the information set forth in the Indenture, at any time from the opening of
business on the date that is 21 Business Days prior to such Purchase Date until the close of business on such Purchase Date and upon delivery of the Securities to the Paying Agent by the Holder as set forth in the Indenture. 
 At the option of the Holder and subject to the terms and conditions of the Indenture, the Issuer shall purchase all or a portion of the Securities held
by such Holder as of the date that is not less than 20 nor more than 35 Business Days after the occurrence of a Fundamental Change occurring prior to Stated Maturity Date for a Fundamental Change Purchase Price equal to 100% of the Principal Amount
thereof, plus accrued and unpaid interest, including Contingent Interest, if any, to, but excluding, the Fundamental Change Purchase Date, unless such Fundamental Change Purchase Date falls after a Regular Record Date and on or 
  

 A-9 

 prior to the corresponding Interest Payment Date, in which case the Issuer shall pay the full amount of accrued and
unpaid interest, including Contingent Interest, if any, payable on such Interest Payment Date to the Holder at the close of business on such Regular Record Date. 
 Holders have the right to withdraw any Purchase Notice or Fundamental Change Purchase Notice, as the case may be, by delivering to the Paying Agent a written notice of withdrawal in accordance with the provisions of
the Indenture. 
 As provided in the Indenture, if cash sufficient to pay the Purchase Price or Fundamental Change Purchase Price, as the
case may be, of all Securities or portions thereof to be purchased as of the Purchase Date or the Fundamental Change Purchase Date, as the case may be, is deposited with the Paying Agent on the Business Day following the Purchase Date or the
Fundamental Change Purchase Date, as the case may be, all interest, including Contingent Interest, if any, ceases to accrue on such Securities (or portions thereof) immediately after such Purchase Date or Fundamental Change Purchase Date, as the
case may be, and the Holder thereof shall have no other rights as such (other than the right to receive the Purchase Price or Fundamental Change Purchase Price, as the case may be, upon surrender of such Security). 
  

	11.	Conversion. 

 Subject to the terms of the Indenture, the
Holder of a Security may convert the Security at the Conversion Rate under the circumstances set forth in Sections 12.02, 12.03, 12.04, 12.05 and 12.06 of the Indenture. A Security in respect of which a Holder has delivered a Purchase Notice or a
Fundamental Change Purchase Notice exercising the option of such Holder to require the Issuer to purchase such Security may be converted only if such notice of exercise is withdrawn in accordance with the terms of the Indenture. The Conversion Rate
for the Securities on any Conversion Date shall be determined as set forth in the Indenture. 
 The Issuer shall deliver to the Holder
through the Paying Agent, no later than the third Business Day following the date on which the Applicable Stock Price is determined, cash and a certificate for the number of whole shares of Common Stock issuable upon the conversion, if any, and, if
applicable, cash in lieu of any fractional shares. 
 A Holder may convert a portion of a Security if the Principal Amount of such portion is
$1,000 or an integral multiple of $1,000. No payment or adjustment shall be made for dividends on the Common Stock except as provided in the Indenture. On conversion of a Security, except for conversions during the period from the close of business
on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on the Business Day immediately preceding such Interest Payment Date, in which case the Holder on such Regular Record Date shall receive the
interest, including 
  

 A-10 

 Contingent Interest, if any, payable on such Interest Payment Date, that portion of accrued and unpaid interest,
including Contingent Interest, if any, on the converted Security attributable to the period from the most recent Interest Payment Date (or, if no Interest Payment Date has occurred, from the Issue Date) through the Conversion Date shall not be
cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to the Holder thereof through delivery of cash or the Common Stock, if any, (together with the cash payment, if any, in lieu of fractional shares) in exchange for
the Security being converted pursuant to the provisions hereof. 
 Securities or portions thereof surrendered for conversion during the
period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on the Business Day immediately preceding such Interest Payment Date shall be accompanied by payment to the Issuer
or its order, in New York Clearing House funds or other funds acceptable to the Issuer, of an amount equal to the interest, including Contingent Interest, if any, payable on such Interest Payment Date with respect to the Principal Amount of
Securities or portions thereof being surrendered for conversion; provided that no such payment need be made (1) if the Issuer has specified a Redemption Date that occurs during the period from the close of business on a Regular Record
Date to the close of business on the Business Day immediately preceding the Interest Payment Date to which such Regular Record Date relates, (2) if the Issuer has specified a Fundamental Change Purchase Date during such period or (3) to
the extent of overdue interest or overdue Contingent Interest, any overdue interest or overdue Contingent Interest exists on the Conversion Date with respect to the Securities converted. 
 No fractional shares will be issued upon conversion; in lieu thereof, an amount will be paid in cash based upon the Applicable Stock Price. 

The Issuer agrees, and each Holder and any beneficial owner of a Security by its purchase thereof shall be deemed to agree, to treat, for United
States federal income tax purposes, the fair market value of the Common Stock received upon the conversion of a Security (together with any cash payment in lieu of fractional shares) as a contingent payment on the Security for purposes of Treasury
Regulation Section 1.1275-4(b). 
 To convert a Security, a Holder must (a) complete and manually sign the Conversion Notice set
forth below or a facsimile thereof and deliver such notice to the Conversion Agent, (b) surrender the Security to the Conversion Agent, (c) furnish appropriate endorsements and transfer documents (including any certification that may be
required under applicable law) if required by the Conversion Agent, (d) pay any transfer or similar tax, if required and (e) if required, pay funds equal to the interest, include Contingent Interest, if any, payable on the next Interest
Payment Date. 
  

 A-11 

 The Conversion Rate will be adjusted as set forth in Article 12 of the Indenture 
 12. Conversion Arrangement on Call for Redemption. 
 Any Securities called for redemption, unless surrendered for conversion before the close of business on the Business Day immediately preceding the Redemption Date, may be deemed to be purchased from the Holders of such Securities at an
amount not less than the Redemption Price, by one or more investment bankers or other purchasers who may agree with the Issuer to purchase such Securities from the Holders, to convert them into Common Stock of the Issuer and to make payment for such
Securities to the Trustee in trust for such Holders. 
 13. Denominations; Transfer; Exchange. 
 The Securities are in fully registered form, without coupons, in denominations of $1,000 of Principal Amount and integral multiples of $1,000. A Holder
may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by
the Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities in respect of which a
Purchase Notice or Fundamental Change Purchase Notice has been given and not withdrawn (except, in the case of a Security to be purchased in part, the portion of the Security not to be purchased) or any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed. 
 14. Persons Deemed Owners. 
 The registered Holder of this Security may be treated as the owner of this Security for all purposes. 
 15. Unclaimed Money or Securities. 
 The
Trustee and the Paying Agent shall return to the Issuer any cash that remains unclaimed for two years after the date upon which the principal (including the Principal Return and premium, if any, upon conversion) or interest, including Contingent
Interest, if any, on such Security shall have become due and payable, subject to applicable unclaimed property law, together with interest, if any, thereon held by them for the payment of the principal (including the Principal Return and premium, if
any, upon conversion) or interest, including Contingent Interest, if any, on such Security, provided, however, that to the extent that the aggregate amount of cash or Common Stock, if any, deposited by the Issuer pursuant to
Section 3.01, 11.05, or 13.04 exceeds 
  

 A-12 

 the aggregate principal (including the Principal Return, the Net Shares, if any, and premium, if any, upon conversion) or
interest, including Contingent Interest, if any, due on the Securities or portions thereof which the Issuer is obligated to purchase as of the applicable date, then promptly after the Business Day following the such date, the Trustee or the Paying
Agent, as applicable, shall return any such excess to the Issuer. Thereafter, any Holder entitled to payment must look to the Issuer for payment as general creditors, unless an applicable abandoned property law designates another Person. 

16. Amendment; Waiver. 
 Subject to
certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate Principal Amount of the Securities at the time outstanding and
(ii) certain Defaults may be waived with the written consent of the Holders of a majority in aggregate Principal Amount of the Securities at the time outstanding. The Issuer and the Trustee may amend the Indenture under certain circumstances
without the consent of the Holders, as described in the Indenture. 
 17. Defaults and Remedies. 
 If an Event of Default occurs and is continuing, the Trustee, or the Holders of at least 25% in aggregate Principal Amount of the Securities at the time
outstanding, may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency are Events of Default that will result in the Securities becoming due and payable immediately upon the occurrence of such
Events of Default. 
 Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to
enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate Principal Amount of the Securities at the time outstanding may direct the Trustee in its
exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default (except a Default in payment of amounts specified in Section 4.01(a) or (b) of the Indenture) if it determines that withholding notice
is in their interests. 
 18. Trustee Dealings with the Issuer. 
 Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or
pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. 
  

 A-13 

 19. No Recourse Against Others. 
 A director, officer, employee or stockholder, as such, of the Issuer shall not have any liability for any obligations of the Issuer under the Securities
or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder waives and releases all such liability. The waiver and release are part of the consideration for the
issue of the Securities. 
 20. Authentication. 
 This Security shall not be valid until an authorized signatory of the Trustee manually signs the Trustee’s Certificate of Authentication on the other side of this Security. 
 21. Abbreviations. 
 Customary abbreviations
may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform
Gift to Minors Act). 
 22. GOVERNING LAW. 
 THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THIS SECURITY, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. 
  

 The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture.

 Getty Images, Inc. 
 601 N. 34th Street 
 Seattle, WA 98103 
 Attention: Kevin Roberts 
 Telecopy No.: (206) 925-5623 
  

 A-14 

 Schedule I 
 [Include Schedule I only for a Global Security] 
 GETTY IMAGES INC. 
 0.5% Convertible Subordinated Debenture, Series B Due 2023 
 No. R-1 
  

							
	Date    	  	Principal Amount	  	 Notation Explaining
Principal
 Amount Recorded
	  	 Authorized Signature
of Trustee or
 Depositary Custodian

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

  

 A-15 

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 
 For value received
                                        
                     hereby sell(s), assign(s) and transfer(s) unto
                                        
                                 (Please insert social security or other Taxpayer
Identification Number of assignee) the within Security, and hereby irrevocably constitutes and appoints
                                        
                                        
         attorney to transfer said Security on the books of the Issuer, with full power of substitution in the premises. 
  

							
	Dated:	 	  	 		 	  
				
		 		 		 	  
		 		 	       Signature(s)

 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Security registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the
Security registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

	
	  
	Signature Guarantee

  

 A-16 

 CONVERSION NOTICE 
 TO:       GETTY IMAGES, INC. 
      THE BANK OF
NEW YORK 
 The undersigned registered owner of this Security hereby requests and instructs the Issuer pursuant to Article 12 of the
Indenture to convert the entire Principal Amount of this Security, or portion thereof (which is $1,000 Principal Amount or an integral multiple thereof) designated below, into cash in an amount equal to the Principal Return and shares of Common
Stock of the Issuer, par value $0.01, in an amount equal to the Net Shares, if any, in accordance with the terms of the Indenture. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The
Securities shall be converted as of the Conversion Date pursuant to the terms and conditions specified in the Indenture. 
 To convert this Security, check
the box: 
 To convert only part of this Security, state the Principal Amount to be converted (which must be $1,000 or an integral multiple of $1,000): $

 __________________________________________ 
 If you want the
stock certificate, if any, made out in another person’s name, fill in the form below: 
  

 (Insert other person’s soc. sec. or tax ID no.) 
  

 (Print or type other person’s name, address and zip code) 
  

			
	 Your
	 	
	 Signature:
	 	__________________________________________

 (Sign exactly as your name appears on the other side of this Security) 
 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security registrar in addition to, or in substitution
for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

	
	__________________________________________
	Signature Guarantee

  

 A-17 

 PURCHASE NOTICE 
 TO:    GETTY IMAGES, INC. 
 THE BANK OF NEW YORK 
 The undersigned registered owner of this Security hereby irrevocably acknowledges receipt of a notice from Getty Images, Inc. (the
“Issuer”) regarding the right of holders to elect to require the Issuer to purchase the Securities and requests and instructs the Issuer to purchase the entire Principal Amount of this Security, or portion thereof (which is $1,000
Principal Amount or an integral multiple thereof) designated below, in accordance with the terms of the Indenture at the price of 100% of the Principal Amount or proportional portion thereof, together with accrued interest, including Contingent
Interest, if any, to, but excluding, the Purchase Date, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Securities shall be purchased by the Issuer
as of the applicable Purchase Date pursuant to the terms and conditions specified in the Indenture. This election is made pursuant to Article 13, Purchase at Option of Holders at June 9, 2008, 2013 and 2018. 
 Dated: _______________________________ 
 Signature(s): ____________________________________ 
 NOTICE: The above signatures of the holder(s) hereof must correspond with the
name as written upon the face of the Security in every particular without alteration or enlargement or any change whatever. 
 Security
Certificate Number (if applicable): ________________________________ 
 Principal Amount to be purchased (if less than all):
__________________________ 
 Social Security or Other Taxpayer Identification Number: _____________________ 
 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security registrar in addition to, or in substitution
for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

			
		 	___________________________
		 	Signature Guarantee

  

 A-18 

 OPTION OF HOLDER TO ELECT PURCHASE UPON 
 FUNDAMENTAL CHANGE 
 TO:    GETTY IMAGES INC. 
 THE BANK OF NEW YORK 
 The undersigned
registered owner of this Security hereby irrevocably acknowledges receipt of a notice from Getty Images, Inc. (the “Issuer”) regarding the right of holders to elect to require the Issuer to purchase the Securities upon a Fundamental
Change and requests and instructs the Issuer pursuant to Section 14.01 to purchase the entire Principal Amount of this Security, or portion thereof (which is $1,000 Principal Amount or an integral multiple thereof) designated below, in
accordance with the terms of the Indenture at the price of 100% of the Principal Amount or proportional portion thereof, together with accrued interest, including Contingent Interest, if any, to, but excluding, the Fundamental Change Purchase Date,
to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Securities shall be repurchased by the Issuer as of the Fundamental Change Purchase Date pursuant to
the terms and conditions specified in the Indenture. 
 Dated: _________________________ 
 Signature(s): ________________________________ 
 NOTICE: The above signatures of the holder(s) hereof must correspond with the name as written upon the face of the Security in every particular without alteration or enlargement or any change whatever. 
 Security Certificate Number (if applicable): __________________________ 
 Principal Amount to be purchased (if less than all): ____________________ 
 Social Security or Other
Taxpayer Identification Number: _______________ 
 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be
determined by the Security registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

			
		 	 ________________________________

		 	 Signature Guarantee

  

 A-19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]