Document:

Indenture

 Exhibit 4.2 
 GROUP 1 AUTOMOTIVE, INC., 
 AND 
 WELLS FARGO BANK, N.A., 
 AS TRUSTEE 
 3.00% Convertible Senior Notes due 2020 
 INDENTURE 
 Dated as of March 22, 2010 

 TABLE OF CONTENTS 
  
  

			
	 	  	PAGE
	 ARTICLE 1
	  	
	 DEFINITIONS AND INCORPORATION BY
REFERENCE
	  	
		
	Section 1.01. Definitions.	  	1
	Section 1.02. Other Definitions.	  	8
	Section 1.03. Incorporation by Reference of Trust Indenture Act	  	9
	Section 1.04. Rules of Construction	  	9
		
	 ARTICLE 2
	  	
	 THE SECURITIES
	  	
		
	Section 2.01. Title; Amount and Issue of Securities; Principal and Interest	  	10
	Section 2.02. Form of Securities	  	11
	Section 2.03. Legends	  	11
	Section 2.04. Execution and Authentication	  	16
	Section 2.05. Registrar and Paying Agent	  	17
	Section 2.06. Paying Agent to Hold Money in Trust	  	18
	Section 2.07. Holder Lists	  	18
	Section 2.08. General Provisions Relating to Transfer and Exchange	  	18
	Section 2.09. Book-Entry Provisions for the Global Securities	  	19
	Section 2.10. Special Transfer Provisions	  	20
	Section 2.11. Mutilated, Destroyed, Lost or Wrongfully Taken Securities	  	22
	Section 2.12. Outstanding Securities	  	23
	Section 2.13. Temporary Securities	  	23
	Section 2.14. Cancellation	  	23
	Section 2.15. Payment of Interest; Defaulted Interest	  	24
	Section 2.16. Computation of Interest	  	25
	Section 2.17. CUSIP and ISIN Numbers	  	25
		
	 ARTICLE 3
	  	
	 COVENANTS
	  	
		
	Section 3.01. Payment of Securities	  	26
	Section 3.02. Rule 144A Information Requirement and Annual Reports	  	26
	Section 3.03. Maintenance of Office or Agency	  	28
	Section 3.04. Corporate Existence	  	28
	Section 3.05. Payment of Taxes and Other Claims	  	28
	Section 3.06. Compliance Certificate	  	28
	Section 3.07. Further Instruments and Acts	  	29
	Section 3.08. Statement by Officers as to Default	  	29

  

 ii 

			
	 ARTICLE 4

	 SUCCESSOR COMPANY
	  	
		
	Section 4.01. Consolidation, Merger and Sale of Assets	  	29
		
	 ARTICLE 5
	  	
	 NO REDEMPTION
	  	
		
	Section 5.01. No Redemption	  	30
		
	 ARTICLE 6
	  	
	 DEFAULTS AND REMEDIES
	  	
		
	Section 6.01. Events of Default	  	30
	Section 6.02. Acceleration	  	32
	Section 6.03. Other Remedies	  	32
	Section 6.04. Additional Interest	  	32
	Section 6.05. Waiver of Past Defaults	  	33
	Section 6.06. Control by Majority	  	33
	Section 6.07. Limitation on Suits	  	33
	Section 6.08. Rights of Holders to Receive Payment	  	34
	Section 6.09. Collection Suit by Trustee	  	34
	Section 6.10. Trustee May File Proofs of Claim	  	34
	Section 6.11. Priorities	  	34
	Section 6.12. Restoration of Rights and Remedies	  	35
	Section 6.13. Undertaking of Costs	  	35
		
	 ARTICLE 7
	  	
	 TRUSTEE
	  	
		
	Section 7.01. Duties of Trustee	  	35
	Section 7.02. Rights of Trustee	  	37
	Section 7.03. Individual Rights of Trustee	  	38
	Section 7.04. Trustee’s Disclaimer	  	38
	Section 7.05. Notice of Defaults	  	38
	Section 7.06. Reports by Trustee to Holders	  	38
	Section 7.07. Compensation and Indemnity	  	38
	Section 7.08. Replacement of Trustee	  	39
	Section 7.09. Successor Trustee by Merger	  	40
	Section 7.10. Eligibility; Disqualification	  	40
	Section 7.11. Preferential Collection of Claims Against Company	  	41

  

 iii 

			
	ARTICLE 8
	DISCHARGE OF INDENTURE	  	
		
	Section 8.01. Discharge of Liability on Securities	  	41
	Section 8.02. Reinstatement	  	42
	Section 8.03. Officers’ Certificate; Opinion of Counsel	  	42
		
	ARTICLE 9	  	
	AMENDMENTS	  	
		
	Section 9.01. Without Consent of Holders	  	42
	Section 9.02. With Consent of Holders	  	43
	Section 9.03. Compliance with Trust Indenture Act	  	44
	Section 9.04. Revocation and Effect of Consents and Waivers	  	44
	Section 9.05. Notation on or Exchange of Securities	  	44
	Section 9.06. Trustee to Sign Amendments	  	44
		
	ARTICLE 10	  	
	[RESERVED]	  	
		
	ARTICLE 11	  	
	PURCHASE AT THE OPTION OF HOLDER UPON A
FUNDAMENTAL CHANGE	  	
		
	Section 11.01. Purchase at the Option of the Holder Upon a Fundamental Change	  	45
	Section 11.02. [Reserved]	  	47
	Section 11.03. Further Conditions and Procedures for Purchase at the Option of the Holder Upon a Fundamental Change.	  	47
		
	ARTICLE 12	  	
	CONVERSION	  	
		
	Section 12.01. Conversion of Securities	  	50
	Section 12.02. Adjustments to Conversion Rate	  	55
	Section 12.03. Adjustment Upon Certain Fundamental Changes	  	63
	Section 12.04. [Reserved]	  	66
	Section 12.05. Effect of Reclassification, Consolidation, Merger or Sale	  	66
	Section 12.06. Responsibility of Trustee	  	67
	Section 12.07. Notice to Holders Prior to Certain Actions	  	68
	Section 12.08. Stockholder Rights Plan	  	69
	Section 12.09. Limit on Issuance of Shares of Common Stock Upon Conversion	  	69

  

 iv 

			
	ARTICLE 13
	MISCELLANEOUS
		
	Section 13.01. Trust Indenture Act Controls	  	69
	Section 13.02. Notices	  	70
	Section 13.03. Communication by Holders with other Holders	  	70
	Section 13.04. Certificate and Opinion as to Conditions Precedent	  	71
	Section 13.05. Statements Required in Certificate or Opinion	  	71
	Section 13.06. When Securities Are Disregarded	  	71
	Section 13.07. Rules by Trustee, Paying Agent and Registrar	  	71
	Section 13.08. Legal Holidays	  	72
	Section 13.09. Governing Law	  	72
	Section 13.10. No Recourse Against Others	  	72
	Section 13.11. Successors	  	72
	Section 13.12. Multiple Originals	  	72
	Section 13.13. Action by Holders	  	72
	Section 13.14. Table of Contents; Headings	  	73
	Section 13.15. Severability Clause	  	73
	Section 13.16. Calculations	  	73
		
	SCHEDULE A     Additional Shares	  	
	EXHIBIT A          Form of the Security	  	

  

 v 

 INDENTURE dated as of March 22, 2010, between GROUP 1 AUTOMOTIVE, INC., a Delaware
corporation (the “Company”), and WELLS FARGO BANK, N.A., as Trustee (the “Trustee”). 
 Each
party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Company’s 3.00% Convertible Senior Notes due 2020 (the “Securities”). 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01. Definitions. 
 “Additional Interest” means all amounts, if any, payable
pursuant to Section 3.02(d), Section 3.02(e) and Section 6.04, as applicable. 
 “Affiliate” of
any specified Person means any other Person directly or indirectly controlling, controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with
respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling”
and “controlled” have meanings correlative to the foregoing. 
 “Bankruptcy Law” means Title
11 of the United States Code or any similar federal or state law for the relief of debtors. 
 “Beneficial
Owner” shall mean any person who is considered a beneficial owner of a security in accordance with Rule 13d-3 promulgated by the SEC under the Exchange Act. 
 “Board of Directors” means, as to any Person, the board of directors of such Person or any duly authorized committee thereof. 
 “Bid Solicitation Agent” means the agency appointed by the Company to solicit bids for the Trading Price of the Securities
in accordance with Section 12.01(a)(ii). The Bid Solicitation Agent appointed by the Company shall initially be the Trustee. 
 “Business Day” means, with respect to any Security, any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed.

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

 “close of business” means 5:00 p.m. (New York City time). 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Common Equity” of any Person means Capital Stock of such Person that is generally entitled to (1) vote in the
election of directors of such Person or (2) if such Person is not a corporation, vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person.

 “Common Stock” means the Company’s common stock, par value $0.01 per share. 
 “Company” means Group 1 Automotive, Inc. or its successors and assigns. 
 “Continuing Director” means a director who either was a member of the board of directors of the Company on March 16,
2010 or who becomes a director of the Company subsequent to that date and whose election, appointment or nomination for election by stockholders of the Company, is duly approved by a majority of the Continuing Directors on the board of directors of
the Company at the time of such approval, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the entire board of directors of the Company in which such individual is named as nominee for director.

 “Conversion Agent” means the office or agency appointed by the Company where Securities may be presented for
conversion. The Conversion Agent appointed by the Company shall initially be the Trustee. 
 “Conversion Price”
means, in respect of each $1,000 principal amount of Securities, $1,000 divided by the Conversion Rate, as may be adjusted from time to time as set forth herein. 
 “Conversion Rate” means, in respect of each $1,000 principal amount of Securities, initially 25.8987 shares of Common Stock, subject to adjustments as set forth herein. 
 “Corporate Trust Officer” means the office of the Trustee specified in Section 13.02. 
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law.

 “Default” means any event which is, or after notice or passage of time or both would be, an Event of
Default. 
 “Definitive Securities” means certificated Securities that are not Global Securities. 

“DTC” means The Depository Trust Company and its successors and assigns, or such other depository institution
hereinafter appointed by the Company pursuant to the terms of this Indenture. 
  

 2 

 “Ex-Dividend Date” means the first date on which shares of the Common Stock
trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the
form of due bills or otherwise) as determined by such exchange or market. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Fair
Market Value” means the amount that a willing buyer would pay a willing seller in an arm’s length transaction. 
 A “Fundamental Change” shall be deemed to have occurred at such time after the original issuance of the Securities as any of the following occurs: 
  

	 	(a)	any “person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, any Subsidiary of the Company or any
employee benefit plan of the Company or any such Subsidiary, files a Schedule TO or any other schedule, form or report under the Exchange Act disclosing that such person or group has become the Beneficial Owner of Common Equity of the Company
representing more than 50% of the ordinary voting power of the Common Equity of the Company; 

  

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

  

	 	(c)	Continuing Directors cease to constitute at least a majority of the board of directors of the Company; 

  

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

  

 3 

	 	(e)	the Common Stock (or other common stock into which the Securities are then convertible) ceases to be listed on a national securities exchange in the United States;

 provided, however, that a transaction or transactions described in clause (b) above shall not constitute a
Fundamental Change, if 100% of the consideration received or to be received by the holders of the Common Stock, excluding cash payments for fractional shares, in connection with such transaction or transactions consists of shares of common stock
that are listed or quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection with such
transaction or transactions and as a result of such transaction or transactions the Securities become convertible into such consideration, excluding cash payments for fractional shares pursuant to the provisions of Section 12.01(c). 

“GAAP” means generally accepted accounting principles in the United States as in effect from time to time. 

“Global Securities” means certificated Securities in global form, without interest coupons, substantially in the form of
Exhibit A hereto and registered in the name of DTC or a nominee of DTC. 
 “Holder” means the Person in whose
name a Security is registered in the Securities Register. 
 “Indenture” means this Indenture, as amended or
supplemented from time to time. 
 “Initial Purchasers” means the several initial purchasers named in
Schedule I to the Purchase Agreement. 
 “interest” means, when used with reference to the Securities, any
interest payable under the terms of the Securities, including Defaulted Interest, if any, and Additional Interest, if any. 
 “Issue Date” means March 22, 2010. 
 “Last Reported Sale Price” of the Common
Stock on any date means the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average asked prices) on that date
as reported in composite transactions for the principal U.S. securities exchange on which the Common Stock is traded or, if the Common Stock is not listed on a U.S. securities exchange, on the relevant date, the Last Reported Sale Price shall be the
last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by Pink OTC Markets Inc. or a similar organization. If the Common Stock is not so quoted, the Last Reported Sale Price shall be the average of
the mid-point of the last bid and ask prices for the Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 
  

 4 

 “Make-Whole Fundamental Change” means any transaction or event that
constitutes a Fundamental Change (determined after giving effect to any exceptions to or exclusions from such definition, but without regard to the proviso in clause (b) of the definition thereof). 
 “Market Disruption Event” means, for purposes of determining payment upon conversion only, (a) a failure by the
primary United States national securities exchange or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m. (New York City
time) on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted
by the relevant stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 
 “Observation Period” means, with respect to a conversion of any Security, the 25 consecutive Trading Day period beginning on and including the second Trading Day immediately following the
Conversion Date for such Security, except that with respect to any Conversion Date for a Security occurring on or after September 15, 2019 the “Observation Period” shall be the 25 consecutive Trading Days beginning on and
including the 27th Scheduled Trading Day prior to the Stated Maturity. 
 “Offering Memorandum” means the
offering memorandum, dated March 16, 2010, relating to the offering by the Company of the Securities. 
 “Officer” means the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer or the Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers or attorneys-in-fact or by an Officer and either an
Assistant Treasurer or an Assistant Secretary of the Company. 
 “open of business” means 9:00 a.m. (New York
City time). 
 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company or the Trustee. 
 “Person” means any
individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision hereof or any other entity. 
 “Preferred Stock”, as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however
designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such corporation.

  

 5 

 “Purchase Agreement” means the Purchase Agreement dated as of
March 16, 2010 between the Company and the Initial Purchasers relating to the initial purchase and sale of the Securities. 
 “QIB” means any “qualified institutional buyer” (as term is defined in Rule 144A). 
 “Record Date” means, in respect of a dividend or distribution to holders of Common Stock, the date fixed for determination of holders of Common Stock entitled to receive such dividend or distribution. 
 “Regular Record Date” for the payment of interest on the Securities means the March 1 (whether or not a Business Day)
immediately preceding an interest payment date on March 15 and the September 1 (whether or not a Business Day) immediately preceding an interest payment date on September 15. 
 “Rule 144A” means Rule 144A under the Securities Act. 
 “SEC” means the United States Securities and Exchange Commission. 
 “Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the primary Unites States national securities
exchange or market on which the Common Stock is listed or admitted for trading, except that if the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a “Business Day.” 

“Securities” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 
 “Securities Act” means the Securities Act of 1933 (15 U.S.C. §§ 77a – 77aa), as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 “Securities Custodian” means the custodian with respect to
the Global Security (as appointed by DTC), or any successor Person thereto and shall initially be the Trustee. 
 “Significant Subsidiary” means any Subsidiary that would be a “Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 
 “Stated Maturity” means, with respect to any Security, March 15, 2020. 
 “Subsidiary” of the Company means (i) a corporation a majority of whose Capital Stock with voting power, under
ordinary circumstances, to elect directors is at the time, directly or indirectly, owned by the Company, by the Company and one or more Subsidiaries of the Company or by one or more Subsidiaries of the Company or (ii) any other Person (other
than a corporation) in which the Company, one or more Subsidiaries of the Company or the Company and one or more Subsidiaries of the Company, directly or indirectly, at the date of determination thereof, has greater than a 50% ownership interest.

  

 6 

 “TIA” or “Trust Indenture Act” means the Trust Indenture
Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as in effect on the date of this Indenture, except as provided in Section 9.03. 
 “Trading Day” means a day on which (i) trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock
Exchange, on the principal other United States national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a United States national or regional securities exchange, on the principal
other market on which the Common Stock is then traded and (ii) a Last Reported Sale Price of the Common Stock is available on such securities exchange or market; provided that if the Common Stock (or other security for which a closing
sale price must be determined) is not so listed or traded, “Trading Day” means a Business Day; and provided, further, that for purposes of determining amounts due upon conversion only, “Trading Day”
means a day on which (x) there is no Market Disruption Event and (y) trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, on the principal
other United States national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a United States national or regional securities exchange, on the principal other market on which the
Common Stock is then listed or admitted for trading, except that if the Common Stock (or other security for which a Daily VWAP must be determined) is not so listed or admitted for trading, “Trading Day” means a Business Day.

 “Trading Price” of the Securities on any date of determination means the average of the secondary market bid
quotations obtained by the Bid Solicitation Agent for $5,000,000 principal amount of the Securities at approximately 3:30 p.m. (New York City time) on such determination date from three independent nationally recognized securities dealers selected
by the Company; provided that, if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained
by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Securities from a nationally recognized securities dealer, then the Trading
Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. 
 “Trustee” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the
successor. 
 “Trust Officer” means, when used with respect to the Trustee, the officer within the corporate
trust department of the Trustee having direct responsibility for the administration of this Indenture. 
 “UCC”
means the Uniform Commercial Code as in effect in the State of New York. 
  

 7 

 Section 1.02. Other Definitions.  
  

			
	 Term
	  	 Defined in
Section

	 “actual knowledge”
	  	Section 7.01(j)
	 “Additional Shares”
	  	12.03(a)
	 “Agent Members”
	  	2.09(a)
	 “Authenticating Agent”
	  	2.04
	 “Certificate of Destruction”
	  	2.14
	 “Clause A Distribution”
	  	12.02(c)
	 “Clause B Distribution”
	  	12.02(c)
	 “Clause C Distribution”
	  	12.02(c)
	 “Company Notice”
	  	11.03(a)
	 “Company Notice Date”
	  	11.03(a)
	 “Company Order”
	  	2.04
	 “Conversion Date”
	  	12.01(b)
	 “Daily Settlement Amount”
	  	12.01(c)
	 “Daily Conversion Value”
	  	12.01(c)
	 “Daily VWAP”
	  	12.01(c)
	 “Defaulted Interest”
	  	2.15
	 “Distributed Property”
	  	12.02(c)
	 “Effective Date”
	  	12.03(c)
	 “Event of Default”
	  	6.01
	 “Expiration Time”
	  	12.02(e)
	 “Fundamental Change Purchase Date”
	  	11.01
	 “Fundamental Change Purchase Notice”
	  	11.01(b)
	 “Fundamental Change Purchase Price”
	  	11.01
	 “Global Security Legend”
	  	2.03(iv)
	 “Paying Agent”
	  	2.05
	 “Reorganization Event”
	  	12.05(a)
	 “Reference Property”
	  	12.05(a)
	 “Registrar”
	  	2.05
	 “Restricted Securities”
	  	2.03
	 “Restricted Securities Legend”
	  	2.03
	 “Securities Register”
	  	2.05
	 “Settlement Amount”
	  	12.01(c)
	 “Special Interest Payment Date”
	  	2.15(a)
	 “Special Record Date”
	  	2.15(a)
	 “Spin-Off”
	  	12.02(c)
	 “Stock Price”
	  	12.03(c)
	 “Successor Company”
	  	4.01(a)
	 “Trigger Event”
	  	12.02(c)
	 “unit of Reference Property”
	  	12.05(a)
	 “Valuation Period”
	  	12.02(c)

  

 8 

 Section 1.03. Incorporation by Reference of Trust Indenture Act. This Indenture
is subject to the mandatory provisions of the TIA which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings: 
 “Commission” means the SEC, 
 “indenture securities” means the Securities, 
 “indenture
security holder” means a Holder, 
 “indenture to be qualified” means this Indenture, 
 “indenture trustee” or “institutional trustee” means the Trustee, and 
 “obligor” on the indenture securities means the Company and any other obligor on the Securities. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or defined by SEC
rule have the meanings assigned to them by such definitions. 
 Section 1.04. Rules of Construction. Unless the
context otherwise requires: 
 (a) a term has the meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (c) “or” is not exclusive; 
 (d) “including” means including without limitation; 
 (e) words in the
singular include the plural and words in the plural include the singular; 
 (f) the principal amount of any non-interest
bearing or other discount security at any date shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; and 
 (g) the principal amount of any Preferred Stock shall be the greater of (i) the maximum liquidation value of such Preferred Stock and
(ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock. 
  

 9 

 ARTICLE 2 
 THE SECURITIES 
 Section 2.01. Title; Amount
and Issue of Securities; Principal and Interest. (a) The Securities shall be known and designated as the “3.00% Convertible Senior Notes due 2020” of the Company. The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is initially limited to $100,000,000 (as increased by the aggregate principal amount of any additional Securities purchased by the Initial Purchasers pursuant to their option to purchase additional
Securities set forth in the Purchase Agreement), except for Securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of other Securities pursuant to Section 2.03, 2.04, 2.08 2.09, 2.10, 2.11,
2.13, 9.05, 11.03 or 12.01; provided that additional Securities may be issued in an unlimited aggregate principal amount from time to time thereafter as set forth pursuant to Section 2.04. The Securities shall be issuable in
denominations of $1,000 or multiples thereof. 
 (b) The Securities shall mature on March 15, 2020 unless earlier converted
or repurchased in accordance with the provisions hereof. 
 (c) Interest on the Securities shall accrue from and including the
date specified on the face of such Securities until the principal thereof is paid or made available for payment. Interest shall be payable semiannually in arrears on March 15 and September 15 in each year, commencing September 15,
2010. 
 (d) A Holder of any Security at the close of business on a Regular Record Date shall be entitled to receive interest,
on such Security on the corresponding interest payment date, notwithstanding the conversion of such Securities at any time after the close of business on such Regular Record Date but prior to the corresponding interest payment date. Securities
surrendered for conversion during the period after the close of business on any Regular Record Date until the open of business on the immediately following interest payment date must be accompanied by payment of an amount equal to the interest that
the Holder is to receive on the Securities. Notwithstanding the foregoing, no such payment of interest need be made by any converting Holder (i) for conversions following the Regular Record Date immediately preceding the Stated Maturity,
(ii) if the Company has specified a Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the third Trading Day after the corresponding interest payment date or (iii) to the extent of any overdue interest
existing at the time of conversion of such Security. Except as described above, no interest on converted Securities will be payable by the Company on any interest payment date subsequent to the date of conversion and delivery of the cash and shares
of Common Stock, if applicable, pursuant to Article 12 hereunder, together with any cash payment for any fractional share, upon conversion will be deemed to satisfy in full the Company’s obligation to pay the principal amount of the Securities
and accrued and unpaid interest to, but not including, the related Conversion Date. 
 (e) Principal of and interest on Global
Securities shall be payable to DTC in immediately available funds. 
  

 10 

 (f) Principal on Definitive Securities shall be payable at the office or agency of the
Company maintained for such purpose in New York, New York, which initially shall be the corporate trust office of the Trustee at its office located at 45 Broadway, 14th Floor, New York, New York 10006. Interest on Definitive Securities will be
payable (i) to Holders having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of these Securities and (ii) to Holders having an aggregate principal amount of more than $5,000,000, either by check mailed
to each Holder or, upon application by a Holder to the Paying Agent not later than the relevant Regular Record Date, by wire transfer in immediately available funds to such Holder’s account within the United States, which application shall
remain in effect until the Holder notifies, in writing, the Paying Agent to the contrary. 
 Section 2.02. Form of
Securities. 
 (a) Except as otherwise provided pursuant to this Section 2.02, the Securities are issuable in fully
registered form without coupons in substantially the form of Exhibit A hereto, with such applicable legends as are provided for in Section 2.03. The Securities are not issuable in bearer form. The terms and provisions contained in the form of
Security shall constitute, and are hereby expressly made, a part of this Indenture and to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be
bound thereby. Any of the Securities may have such letters, numbers or other marks of identification and such notations, legends and endorsements as the officers executing the same may approve (execution thereof to be conclusive evidence of such
approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated
quotation system on which the Securities may be listed or designated for issuance, or to conform to usage. 
 (b) The Securities
shall be issued initially in the form of one or more permanent Global Securities, with the applicable legends as provided in Section 2.03. Each Global Security shall be duly executed by the Company and authenticated and delivered by the
Trustee, and shall be registered in the name of DTC or its nominee and retained by the Trustee, as Securities Custodian, at its corporate trust office, for credit to the accounts of the Agent Members holding the Securities evidenced thereby. The
aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee, as Securities Custodian, and of DTC or its nominee, as hereinafter provided. 
 Section 2.03. Legends. Each Security issued hereunder shall, upon issuance, bear the legend set forth in Section 2.03(i),
and each Common Stock certificate representing shares of the Common Stock issued upon conversion of any Security issued hereunder, shall, upon issuance, unless as otherwise set forth below, bear the legend set forth in Section 2.03(ii) (each
such legend, a “Restricted Securities Legend”), and such legend shall not be removed except as provided in Section 2.03(iii). Each Security that bears or is required to bear the Restricted Securities Legend set forth in
Section 2.03(i) (together with each Common Stock certificate representing shares of the Common Stock issued upon conversion of such Security that bears or is required to bear the Restricted Securities Legend set forth in Section 2.03(ii),
collectively, the

  

 11 

 
“Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.03 (including the Restricted Securities Legend set forth below), and
the Holder of each such Restricted Security, by such Holder’s acceptance thereof, shall be deemed to have agreed to be bound by all such restrictions on transfer. 
 As used in Section 2.03, the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security. 
 (i) Restricted Securities Legend for Securities. Except as provided in Section 2.03(iii), any certificate
evidencing such Security (and all Securities issued in exchange therefor or substitution thereof, other than stock certificates representing shares of the Common Stock, if any, issued upon conversion thereof which shall bear the legend set forth in
Section 2.03(ii), if applicable) shall bear a Restricted Securities Legend in substantially the following form: 
 “THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR
OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 (1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING AS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE
INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, 
 (2) REPRESENTS BY ITS PURCHASE AND HOLDING OF THIS
SECURITY OR THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY THAT (A) THE PURCHASE AND HOLDING OF THE SECURITY OR THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY IS NOT MADE ON BEHALF OF OR WITH “PLAN ASSETS” OF
ANY PLAN SUBJECT TO TITLE I OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR LAW OR (B) THE PURCHASE AND HOLDING OF THIS SECURITY OR THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY WILL NOT RESULT IN A NON-EXEMPT PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR LAW, AND 
 (3) AGREES FOR THE
BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER
PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO GROUP 1 AUTOMOTIVE, INC. (THE “COMPANY”) OR ANY SUBSIDIARY THEREOF, OR 
  

 12 

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER
THE SECURITIES ACT, OR 
 (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
SECURITIES ACT, OR 
 (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES
ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF
ANY TRANSFER IN ACCORDANCE WITH (3)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED
TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.” 
 (ii) Restricted Securities Legend for the Common Stock Issued Upon Conversion of the Securities. Each stock
certificate representing Common Stock issued upon conversion of Securities bearing a Restricted Securities Legend will bear the following legend: 
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN
ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 (1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING AS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH
SUCH ACCOUNT, 
 (2) REPRESENTS BY ITS PURCHASE AND HOLDING OF THIS SECURITY THAT (A) THE PURCHASE AND
HOLDING OF THE SECURITY IS NOT MADE ON BEHALF OF OR WITH “PLAN ASSETS” OF ANY PLAN SUBJECT TO TITLE I OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR LAW OR (B) THE PURCHASE AND HOLDING OF THIS SECURITY WILL NOT RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR LAW, AND 
  

 13 

 (3) AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL,
PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE
SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO GROUP 1 AUTOMOTIVE, INC. (THE “COMPANY”) OR ANY SUBSIDIARY THEREOF, OR 
 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 
 (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 
 (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (3)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE
DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO
REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.” 
 (iii) Removal of the Restricted Securities Legends. The Restricted Securities Legend may be removed from any Security or any Common Stock certificate representing shares of the Common Stock issued
upon conversion of any Security if there is delivered to the Company such satisfactory evidence, which may include an opinion of independent counsel, as may be reasonably required by the Company, that neither such legend nor the restrictions on
transfer set forth therein are required to ensure that transfers of such Security or shares of the Common Stock issued upon conversion of Securities, as the case may be, will not violate the registration requirements of the Securities Act or the
qualification requirements under any state securities laws. Upon provision of such satisfactory evidence, at the written direction of the Company, (x) in the case of a Security, the Trustee shall authenticate and deliver in exchange for such
Security another

  

 14 

 
Security or Securities having an equal aggregate principal amount that do not bear such legend or (y) in the case of a Common Stock certificate representing shares of the Common Stock, the
transfer agent for the Common Stock shall authenticate and deliver in exchange for the Common Stock certificate or certificates representing such shares of Common Stock bearing such legend, one or more new Common Stock certificates representing a
like aggregate number of shares of Common Stock that do not bear such legend. If the Restricted Securities Legend has been removed from a Security or Common Stock certificates representing shares of the Common Stock issued upon conversion of any
Security as provided above, no other Security issued in exchange for all or any part of such Security, or no other Common Stock certificates issued in exchange for such Common Stock, shall bear such legend, unless the Company has reasonable cause to
believe that such other Security is a “restricted security” (or such shares of Common Stock are “restricted securities”) within the meaning of Rule 144 and instructs the Trustee in writing to cause a Restricted Securities Legend
to appear thereon. 
 Any Security (or Security issued in exchange or substitution therefor) as to which the conditions for
removal of the Restricted Securities Legend set forth in Section 2.03(i) as set forth therein have been satisfied may, upon surrender of such Security for exchange to the Registrar in accordance with the provisions of Section 2.08, be
exchanged for a new Security or Securities, of like tenor and aggregate principal amount, which shall not bear the Restricted Securities Legend required by Section 2.03(i). 
 Any Common Stock certificate representing shares of Common Stock issued upon conversion of any Security as to which the conditions for
removal of the Restricted Securities Legend set forth in Section 2.03(ii) have been satisfied may, upon surrender of the Common Stock certificates representing such shares of Common Stock for exchange in accordance with the procedures of the
transfer agent for the Common Stock, be exchanged for a new Common Stock certificate or certificates representing a like aggregate number of shares of Common Stock, which shall not bear the Restricted Securities Legend. 
 (iv) Global Security Legend. Each Global Security shall also bear the following legend (the “Global Security
Legend”) on the face thereof: 
 “UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 15 

 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO IN THE
TERMS OF SECURITIES ATTACHED HERETO.” 
 (v) Legend for Definitive Securities. Definitive Securities,
in addition to the legend set forth in Section 2.03(i) or Section 2.03(ii), will also bear a legend substantially in the following form: 
 “THIS SECURITY WILL NOT BE ACCEPTED IN EXCHANGE FOR A BENEFICIAL INTEREST IN A GLOBAL SECURITY UNLESS THE HOLDER OF THIS SECURITY, SUBSEQUENT TO SUCH EXCHANGE, WILL HOLD NO SECURITIES.”

 Section 2.04. Execution and Authentication. One Officer shall sign the Securities for the Company by manual or
facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an authorized signatory of the Trustee manually authenticates the Security. The signature of the Trustee
on a Security shall be conclusive evidence that such Security has been duly and validly authenticated and issued under this Indenture. A Security shall be dated the date of its authentication. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities executed by the
Company in an unlimited aggregate principal amount to the Trustee for authentication, together with a written order of the Company signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company
(the “Company Order”) for the authentication and delivery of such Securities, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities as in this Indenture provided and not otherwise. All
Securities issued on the Issue Date shall be identical in all respects with any such Securities authenticated and delivered thereafter, other than issue dates, the date from which interest accrues or is first payable, appropriate CUSIP numbers or
other identifying notations and any changes relating thereto. Notwithstanding anything to the contrary contained in this Indenture, subject to Section 2.12, all Securities issued under this Indenture shall vote and consent together on all
matters as one class and no series of Securities will have the right to vote or consent as a separate class on any matter. 
 The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to the Company to authenticate the Securities. Initially, the Trustee will act as the Authenticating Agent. Any such instrument shall be
evidenced by an instrument signed by a Trust Officer of the Trustee, a copy of which shall be furnished to the Company. Unless limited by the terms of such appointment, any such Authenticating Agent may authenticate Securities whenever the Trustee
may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. An Authenticating Agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands.

  

 16 

 In case the Company, pursuant to Article 4, shall be consolidated or merged with or into any
other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the successor Person resulting from such consolidation, or surviving such merger, or into which the
Company shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article 4, any of the
Securities authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the request of the successor Person, be exchanged for other Securities executed in the name of the
successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the Securities surrendered for such exchange and of like principal amount; and the Trustee, upon Company Order of the
successor Person, shall authenticate and deliver Securities as specified in such order for the purpose of such exchange. If Securities shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this
Section 2.04 in exchange or substitution for or upon registration of transfer of any Securities, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Securities at the time
outstanding for Securities authenticated and delivered in such new name. 
 Section 2.05. Registrar and Paying Agent.
The Company shall maintain in the continental United States an office or agency where Securities may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency in New York, New York where
Securities may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange (the “Securities Register”). The Company may have one or more
co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent and the term “Registrar” includes any co-registrar. 
 The Company shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture, which shall
incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar
or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Company or any of its domestically organized, wholly owned Subsidiaries may act as Paying Agent or
Registrar. 
 The Company initially appoints the Trustee as Registrar and Paying Agent for the Securities. The Company may
remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a successor as
evidenced by an appropriate agreement entered into by the Company and such successor Registrar or successor Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee

  

 17 

 
that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon
written notice to the Company and the Trustee. 
 Section 2.06. Paying Agent to Hold Money in Trust. By no later
than 11:00 a.m. (New York City time) on the date on which any principal of or interest on any Security is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such principal or
interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of
principal of or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent
and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this
Section 2.06, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the
Trustee shall serve as Paying Agent for the Securities. 
 Section 2.07. 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 and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, or to the extent otherwise required
under the TIA, the Company, shall furnish or cause the Registrar to furnish to the Trustee, in writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form
and as of such date as the Trustee may reasonably require of the names and addresses of Holders and the Company shall otherwise comply with TIA § 312(a). 
 Section 2.08. General Provisions Relating to Transfer and Exchange. The Securities are issuable only in registered form. A Holder may transfer a Security only by written application to the
Registrar stating the name of the proposed transferee and otherwise complying with the terms of this Indenture. No such transfer shall be effected until, and such transferee shall succeed to the rights of a Holder only upon, final acceptance and
registration of the transfer by the Registrar in the Securities Register. Furthermore, any Holder of a Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected
only through a book-entry system maintained by the Holder of such Global Security (or its agent) and that ownership of a beneficial interest in the Global Security shall be required to be reflected in a book-entry. 
 When Securities are presented to the Registrar with a request to register the transfer or to exchange them for an equal aggregate principal
amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its requirements for such transactions are met (including that such Securities are duly endorsed or accompanied by
a written instrument of transfer duly executed by the Holder thereof or by an

  

 18 

 
attorney who is authorized in writing to act on behalf of the Holder). Subject to Section 2.04, to permit registrations of transfers and exchanges, the Company shall execute and the Trustee
shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange of the Securities, but the Company may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith (other than any such transfer taxes or other similar governmental charge payable upon exchanges in connection with which a Security is issued to a Person other than the Holder submitting
the Security for exchange). 
 Neither the Company nor the Registrar shall be required to exchange or register a transfer of any
Securities surrendered for conversion or, if a portion of any Security is surrendered for conversion, the portion thereof surrendered for conversion. 
 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 beneficial owners of any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if
and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 Section 2.09. Book-Entry Provisions for the Global Securities. (a) The Global Securities initially shall: 
 (i) be registered in the name of DTC (or a nominee thereof); 
 (ii) be delivered
to the Trustee as Securities Custodian; 
 (iii) bear the Restricted Securities Legend set forth in Section 2.03(i); and

 (iv) bear the Global Security Legend set forth in Section 2.03(iv). 
 Members of, or participants in, DTC (“Agent Members”) shall have no rights under this Indenture with respect to any Global
Security held on their behalf by DTC, or the Trustee as its custodian, or under such Global Security, and DTC or its nominee, as the registered holder, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the
absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing contained herein shall prevent the Company, the Trustee or any agent of the Company or Trustee from giving effect to any written
certification, proxy or other authorization furnished by DTC or impair, as between DTC and the Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 
 (b) The Holder of a Global Security may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
  

 19 

 (c) A Global Security may not be transferred, in whole or in part, to any Person other than
DTC (or a nominee thereof), and no such transfer to any such other Person may be registered. Beneficial interests in a Global Security may be transferred in accordance with the rules and procedures of DTC and the provisions of Section 2.10.

 (d) If at any time: 
 (i) DTC notifies the Company in writing that it is unwilling or unable to continue to act as depositary for the Global Securities and a successor depositary for the Global Securities is not appointed by
the Company within 90 days of such notice; 
 (ii) DTC ceases to be registered as a “clearing agency”
under the Exchange Act and a successor depositary for the Global Securities is not appointed by the Company within 90 days of such cessation; 
 (iii) the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of the Definitive Securities under this Indenture in exchange for all or any part of the Securities
represented by a Global Security or Global Securities, subject to the procedures of DTC; or 
 (iv) an Event of
Default has occurred and is continuing and the Registrar has received a request from DTC for the issuance of Definitive Securities in exchange for such Global Security or Global Securities; 
 DTC shall surrender such Global Security or Global Securities to the Trustee for cancellation and the Company shall execute, and the Trustee, upon receipt
of an Officers’ Certificate and Company Order for the authentication and delivery of Securities, shall authenticate and deliver in exchange for such Global Security or Global Securities, Definitive Securities in an aggregate principal amount
equal to the aggregate principal amount of such Global Security or Global Securities. Such Definitive Securities shall be registered in such names as DTC shall identify in writing as the beneficial owners of the Securities represented by such Global
Security or Global Securities (or any nominee thereof). 
 (e) Notwithstanding the foregoing, in connection with any transfer of
beneficial interests in a Global Security to the beneficial owners thereof pursuant to Section 2.09(d), the Registrar shall reflect on its books and records the date and a decrease in the principal amount of such Global Security in an amount
equal to the principal amount of the beneficial interests in such Global Security to be transferred. 
 Section 2.10.
Special Transfer Provisions. Unless a Security is no longer a Restricted Security, the following provisions shall apply to any sale, pledge or other transfer of such Securities: 
 (a) Transfer of Securities to a QIB. The following provisions shall apply with respect to the registration of any proposed transfer
of Securities to a QIB: 
 (i) If the Securities to be transferred consist of a beneficial interest in the Global
Securities, the transfer of such interest may be effected only through the book-entry systems maintained by DTC. 
  

 20 

 (ii) If the Securities to be transferred consist of Definitive Securities,
the Registrar shall register the transfer if such transfer is being made by a proposed transferor who has checked the box provided for on the form of Security stating (or has otherwise advised the Company and the Registrar in writing) that the sale
has been made in compliance with the provisions of Rule 144A to a transferee who has signed a certification stating or has otherwise advised the Company and the Registrar in writing that: 
 (A) it is purchasing the Securities for its own account or an account with respect to which it exercises sole investment
discretion; 
 (B) it and any such account is a QIB within the meaning of Rule 144A; 
 (C) it is aware that the sale to it is being made in reliance on Rule 144A; 
 (D) it acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A or
has determined not to request such information; and 
 (E) it is aware that the transferor is relying upon its
foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
 (b) General. By its
acceptance of any Security bearing the Restricted Securities Legend, each Holder of such a Security acknowledges the restrictions on transfer of such Security set forth in this Indenture and agrees that it will transfer such Security only as
provided in this Indenture. The Registrar shall not register a transfer of any Security unless such transfer complies with the restrictions on transfer of such Security set forth in this Indenture. The Registrar shall be entitled to receive and rely
on written instructions from the Company verifying that such transfer complies with such restrictions on transfer. In connection with any transfer of Securities, each Holder agrees by its acceptance of the Securities to furnish the Registrar or the
Company such certifications, legal opinions or other information as either of them may reasonably require to confirm that such transfer is being made pursuant to an exemption from, or a transaction not subject to, the registration requirements of
the Securities Act; provided that the Registrar shall not be required to determine (but may rely on a determination made by the Company with respect to) the sufficiency of any such certifications, legal opinions or other information.

  

 21 

 The Registrar shall retain copies of all certifications, letters, notices and other written
communications received pursuant to Section 2.09 hereof or this Section 2.10. The Company shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving
of reasonable written notice to the Registrar. 
 Section 2.11. Mutilated, Destroyed, Lost or Wrongfully Taken
Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement
Security if the requirements of Section 8-405 of the UCC are met, such that the Holder (a) notifies the Company or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the
Registrar has not registered a transfer prior to receiving such notification, (b) makes such request to the Company or Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the UCC and
(c) satisfies any other reasonable requirements of the Trustee. Such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent and the Registrar from
any loss which any of them may suffer if a Security is replaced, and, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon Company Order the Trustee
shall authenticate and make available for delivery, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or wrongfully taken Security, a new Security of like tenor and principal amount, bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or wrongfully taken Security has become due and
payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any
new Security under this Section 2.11, the Company may require the payment by the Holder 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) in connection therewith. 
 Every new Security issued pursuant to this Section 2.11 in lieu of any
mutilated, destroyed, lost or wrongfully taken Security shall constitute an original additional contractual obligation of the Company and any other obligor upon the Securities, whether or not the mutilated, destroyed, lost or wrongfully taken
Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and ratably with any and all other Securities duly issued hereunder. 
 The provisions of this Section 2.11 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 wrongfully taken Securities. 
  

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 Section 2.12. Outstanding Securities. Securities outstanding at any time are all
Securities authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation and those described in this Section 2.12 as not outstanding. A Security does not cease to be outstanding in the event the Company
or a Subsidiary of the Company holds the Security; provided, however, that (i) for purposes of determining which Securities are outstanding for consent or voting purposes hereunder, the provisions of Section 13.06 shall apply and
(ii) in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite principal amount of outstanding Securities are present at a meeting of Holders of Securities for quorum purposes or have
consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum, consent or vote, only Securities which a Trust Officer of the Trustee
actually knows to be held by the Company or an Affiliate of the Company shall not be considered outstanding. 
 If a Security is
replaced or paid pursuant to Section 2.11, it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a bona fide purchaser. 
 If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a Fundamental Change Purchase Date or at Stated
Maturity, money sufficient to pay all principal and interest payable on that date with respect to any Securities (or portions thereof) to be purchased or maturing, as the case may be, then on and after that date such Securities (or portions thereof)
cease to be outstanding and interest on them ceases to accrue. 
 Section 2.13. Temporary Securities. In the event
that Definitive Securities are to be issued under the terms of this Indenture, until such Definitive Securities are ready for delivery, the Company may prepare and upon receipt of a Company Order the Trustee shall authenticate temporary Securities.
Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and upon receipt of a
Company Order the Trustee shall authenticate Definitive Securities. After the preparation of Definitive Securities, the temporary Securities shall be exchangeable for Definitive Securities upon surrender of the temporary Securities at any office or
agency maintained by the Company for that purpose and such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall execute, and the Trustee shall authenticate and
make available for delivery in exchange therefor, one or more Definitive Securities representing an equal principal amount of Securities. Until so exchanged, the Holder of temporary Securities shall in all respects be entitled to the same benefits
under this Indenture as a Holder of Definitive Securities. 
 Section 2.14. Cancellation. The Company at any time
may deliver Securities to the Trustee for cancellation, and it shall so deliver any Securities it has repurchased. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer,
exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment or cancellation and dispose

  

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of such Securities in accordance with its internal policies and customary procedures including delivery of a certificate (a “Certificate of Destruction”) describing such
Securities disposed (subject to the record retention requirements of the Exchange Act) or deliver canceled Securities to the Company pursuant to written direction by an Officer. The Company may not issue new Securities to replace Securities it has
paid for or delivered to the Trustee for cancellation for any reason other than in connection with a transfer or exchange. 
 At
such time as all beneficial interests in a Global Security have either been exchanged for Definitive Securities, transferred, repurchased or canceled, such Global Security shall be returned by DTC to the Trustee for cancellation or retained and
canceled by the Securities Custodian. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive Securities, transferred in exchange for an interest in another Global Security, repurchased or
canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Security) with respect
to such Global Security, by the Trustee or the Securities Custodian, to reflect such reduction. 
 Section 2.15. Payment
of Interest; Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities)
is registered at the close of business on the Regular Record Date for such payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.05. 
 Any interest on any Security which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a
period of 30 days, shall forthwith cease to be payable to the Holder on the Regular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Securities (such defaulted interest
and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company at its election, in each case, as provided in clause (a) or (b) below: 
 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective
predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of
the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Company 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 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 record date (the “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 Special Interest Payment Date 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 Company of such Special Record Date, and in the name

  

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and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the
manner provided for in Section 13.02, 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 and Special Interest Payment Date therefor having been so
given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall
no longer be payable pursuant to the following clause (b). 
 (b) The Company may make payment of any Defaulted Interest 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, if, after notice given by the Company to the Trustee of the
proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the
foregoing provisions of this Section 2.15, 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 accrued and unpaid, and to accrue,
which were carried by such other Security. 
 Section 2.16. Computation of Interest. Interest on the Securities
shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Section 2.17. CUSIP and ISIN Numbers.
The Company in issuing the Securities may use “CUSIP” and “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use CUSIP and ISIN numbers in all notices issued to Holders as a convenience to such Holders;
provided, however, 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 such notice and that reliance may be placed only on the other
identification numbers printed on the Securities. The Company shall promptly notify the Trustee in writing of any change in the CUSIP and ISIN numbers. 
 Any Securities that are, when issued, Restricted Securities shall be issued with a restricted CUSIP number. Until such time as the Company notifies the Trustee in accordance with Section 2.03(i) to
remove the restrictive legend specified in Section 2.03(i) from the Securities, the restricted CUSIP shall be the CUSIP number for the Securities. At such time as the Company notifies the Trustee to remove the restrictive legend specified in
Section 2.03(i) from the Securities, such legend shall for all purposes of this Indenture and the Securities (including this Section 2.17) be deemed removed from any Global Security and an unrestricted CUSIP number for the Securities shall
be deemed to be the CUSIP number for the Securities. 
  

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 ARTICLE 3 
 COVENANTS 
 Section 3.01. Payment of Securities. The
Company shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided in the Securities and in this Indenture. Principal and interest shall be considered paid on the date due if by no later than 11:00
a.m. (New York City time) on such date the Trustee or the Paying Agent holds in accordance with this Indenture immediately available funds sufficient to pay all principal and interest then due. 
 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue
installments of interest at the same rate to the extent lawful. 
 Notwithstanding anything to the contrary contained in this
Indenture, the Company may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments hereunder. 
 Section 3.02. Rule 144A Information Requirement and Annual Reports. (a) In the event and for so long as the Company is not
subject to Section 13 or 15(d) of the Exchange Act, it shall file with the Trustee and cause to be mailed to each Holder at such Holder’s registered address, upon the request of any Holder or beneficial holder of the Securities or the
Common Stock issued upon conversion thereof, and make available to such Holder or beneficial holder of such Securities or Common Stock in connection with any sale thereof and any prospective purchaser of Securities or Common Stock designated by such
Holder or beneficial holder, the information required pursuant to Rule 144A(d)(4) under the Securities Act and it will take such further action as any Holder or beneficial holder of such Securities or Common Stock may reasonably request, all to the
extent required from time to time to enable such Holder or beneficial holder to sell its Securities or Common Stock without registration under the Securities Act within the limitation of the exemption provided by Rule 144A, as such Rule may be
amended from time to time. 
 (b) The Company shall file with the Trustee within 15 days after the same are required to be filed
with the SEC, copies of any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any such
document or report that the Company files with the SEC via the SEC’s EDGAR system shall be deemed to be filed with the Trustee for purposes of this Section 3.02(b) at the time such documents are filed via the EDGAR system. 
 (c) Delivery of such reports, information and documents described in subsection (a) or (b) above to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

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 (d) If, at any time during the six-month period beginning on, and including, the date which
is six months after the last date of original issuance of the Securities, the Company fails to timely file any document or report that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after
giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), or the Securities are not otherwise freely tradable by Holders other than the Company’s Affiliates (as a result of restrictions pursuant to U.S.
securities law or the terms of this Indenture or the Securities), the Company shall pay Additional Interest on the Securities. Such Additional Interest shall accrue on the Securities at the rate of 0.25% per annum of the principal amount of the
Securities outstanding for each day during such period for which the Company’s failure to file has occurred and is continuing, which rate will be increased by an additional 0.25% per annum following the 90th day on which such Additional
Interest has accrued, provided that the rate at which such additional amount accrued may in no event exceed 0.50% per annum. As used in this paragraph, documents or reports that the Company is required to “file” with the SEC pursuant
to Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the SEC pursuant to Section 13 or 15(d) of the Exchange Act. 
 (e) If, and for so long as, the restrictive legend on the Securities specified in Section 2.03(i) has not been removed or the
Securities are not otherwise freely tradable by Holders other than the Company’s Affiliates (without restrictions pursuant to U.S. securities law or the terms of this Indenture or the Securities) as of the 365th day after the last date of
original issuance of the Securities, the Company shall pay Additional Interest on the Securities at a rate equal to 0.25% per annum of the principal amount of Securities outstanding until the restrictive legend on the Securities has been
removed in accordance with Section 2.03(iii) and the Securities are freely tradable by Holders other than the Company’s Affiliates (without restrictions pursuant to U.S. securities law or the terms of this Indenture or the Securities),
which rate will be increased by an additional 0.25% per annum following the 90th day on which such Additional Interest has accrued, provided that the rate at which such additional amount accrued may in no event exceed 0.50% per annum.

 (f) Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as
regular interest on the Securities. 
 (g) The Additional Interest that is payable in accordance with Section 3.02(d) or
Section 3.02(e) shall be in addition to, and not in lieu of, any Additional Interest that may be payable as a result of the Company’s election pursuant to Section 6.04. 
 (h) If Additional Interest is payable by the Company pursuant to Section 3.02(d) or Section 3.02(e), the Company shall deliver to
the Trustee an Officers’ Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a Responsible Officer of the
Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company
shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 
  

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 Section 3.03. Maintenance of Office or Agency. The Company will maintain an
office or agency in New York, New York, where the Securities may be presented or surrendered for payment, and it will maintain in the continental United States an office or agency where, if applicable, the Securities may be surrendered for
registration of transfer or exchange or conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt written notice to the Trustee of any change in the
location of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company 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
any such designation, provided that the Company shall maintain at all times an office or agency in New York, New York where the Securities may be presented or surrendered for payment. The Company will give prompt written notice to the Trustee
of any such designation or rescission and any change in the location of any such other office or agency. 
 Section 3.04. Corporate Existence. Except as otherwise provided in Article 4, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect (i) its corporate existence and
(ii) the material rights (charter and statutory), licenses and franchises of the Company, except, in the case of clause (ii), to the extent the Board of Directors of the Company otherwise reasonably determines it no longer desirable.

 Section 3.05. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, (i) all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary and
(ii) all lawful claims for labor, materials and supplies, which, if unpaid, might by law become a material liability or lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to
pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the
good faith judgment of management of the Company), are being maintained in accordance with GAAP or where the failure to effect such payment will not be disadvantageous to the Holders. 
 Section 3.06. Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year
of the Company, beginning with the fiscal year ending December 31, 2010, an Officers’ Certificate, one of the signers of which shall be the principal executive officer, principal financial officer or principal accounting officer of the
Company, stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of any Default or Event of Default and whether or not the signers know of any Default or Event of
Default that occurred during such period. If they do, the certificate shall describe each Default or Event of Default, its status and the action the Company is taking or proposes to take with respect thereto. The Company also shall comply with TIA
§ 314(a)(4). 
  

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 Section 3.07. Further Instruments and Acts. Upon request of the Trustee, the
Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 Section 3.08. Statement by Officers as to Default. The Company shall deliver to the Trustee, as soon as possible and in any
event within 30 days after the Company becomes aware of the occurrence of any Event of Default or any Default, an Officers’ Certificate setting forth the details of such Event of Default or Default, its status and the action which the Company
proposes to take with respect thereto. 
 ARTICLE 4 
 SUCCESSOR COMPANY 
 Section 4.01.
Consolidation, Merger and Sale of Assets. The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, another Person, unless: 
 (a) the resulting, surviving or transferee Person (the “Successor Company”) if not the Company shall be a corporation,
partnership, trust or limited liability company organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly assume, by
supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture; 
 (b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and

 (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, stating that
such consolidation, merger, conveyance, transfer or lease and such supplemental indenture, if any, comply with this Indenture. 
 For purposes of this Section 4.01, the sale, lease, conveyance, assignment, transfer, or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and
assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the merger, conveyance, transfer or lease of all or
substantially all of the properties and assets of the Company. 
 The Successor Company will succeed to, and be substituted for,
and may exercise every right and power of, the Company under this Indenture, but, in the case of a lease of all or substantially all its assets, the Company will not be released from the obligation to pay the principal of and interest on the
Securities. 
  

 29 

 ARTICLE 5 
 NO REDEMPTION 
 Section 5.01. No Redemption.
The Securities shall not be redeemable by the Company prior to the Stated Maturity, and no sinking fund is provided for the Securities. 
 ARTICLE 6 
 DEFAULTS AND REMEDIES

 Section 6.01. Events of Default. Each of the following is an “Event of Default”: 
 (a) default in any payment of interest on any Security when the same becomes due and payable, and such default continues for a period of 30
days; 
 (b) default in the payment of the principal of any Security when the same becomes due and payable at its Stated
Maturity, upon required repurchase, upon declaration or otherwise; 
 (c) failure by the Company to comply with its obligation
to convert the Securities in accordance with this Indenture upon exercise of a Holder’s conversion right and such failure continues for a period of five days; 
 (d) failure by the Company to give a Fundamental Change Purchase Notice to Holders or a notice to Holders required pursuant to Section 12.01(a)(iii), in each case when due; 
 (e) failure by the Company to comply with any of its obligations under Article 4; 
 (f) default in the performance of or a breach by the Company of any other covenant or agreement in this Indenture or under the Securities
(other than those referred to in Section 6.01(a) through (e) and Section 6.01(g) through (i)) and such default continues for 90 days after the notice specified below; 
 (g) default by the Company or any Subsidiary in the payment of the principal or interest on any mortgage, agreement or other instrument
under which there may be outstanding, or by which there may be secured or evidenced any indebtedness for money borrowed in excess of $25,000,000 in the aggregate of the Company and/or any such Subsidiary, whether such indebtedness now exists or
shall hereafter be created, resulting in such indebtedness becoming or being declared due and payable, and such acceleration shall not have been rescinded or annulled within 10 days after written notice of such acceleration has been received by the
Company or such Subsidiary; 
  

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 (h) the Company or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 
 (ii) consents to the entry of judgment, decree or order for relief against it in an involuntary case or proceeding;

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

 (iv) makes a general assignment for the benefit of its creditors; 
 (v) consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; 
 (vi) takes any corporate action to authorize or effect any of the foregoing; or 
 (vii) takes any comparable action under any foreign laws relating to insolvency; 
 (i) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (i) is for relief against the Company or any Significant Subsidiary in an involuntary case; 
 (ii) appoints a Custodian of the Company for all or substantially all of the Company’s or any Significant
Subsidiary’s property; or 
 (iii) orders the winding up or liquidation of the Company or Significant
Subsidiary; 
 and, in each case, the order or decree or relief remains unstayed and in effect for 90 days; or 
 (j) there has been entered in a court of competent jurisdiction a final judgment for the payment of $25,000,000 or more (excluding any
amounts covered by insurance) rendered against the Company or any Significant Subsidiary, which judgment is not discharged or stayed within 90 days after (i) the date on which the right to appeal thereof has expired if no such appeal has
commenced, or (ii) the date on which all rights to appeal have been extinguished. 
 The foregoing will constitute Events
of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body. 
  

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 Notwithstanding the foregoing, a Default under clause (f) of this Section 6.01
will not constitute an Event of Default until the Trustee or the Holders of 25% or more in principal amount of the outstanding Securities notify the Company of the Default in writing and the Company does not cure such Default within the time
specified in clause (f) of this Section 6.01 after receipt of such notice. 
 Section 6.02. Acceleration.
If an Event of Default (other than an Event of Default specified in Section 6.01(h) or 6.01(i) above) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in outstanding principal amount of the
outstanding Securities by notice to the Company and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of and accrued and unpaid interest, if any, on all the Securities to be due and payable. Upon such a
declaration, such principal, premium, if any, and accrued and unpaid interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(h) or 6.01(i) above occurs and is continuing, the principal of and accrued and
unpaid interest, if any, on all the Securities outstanding shall be immediately due and payable with no further action by the Trustee or the Holders. 
 Section 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of or interest (including any
Additional Interest) on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an
Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
 Section 6.04. Additional Interest. Notwithstanding anything in this Indenture or in the Securities to the contrary, to the
extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 3.02(a) or Section 3.02(b) shall after the occurrence of such an Event of
Default consist exclusively of the right to receive Additional Interest on the Securities at a rate equal to 0.25% per annum of the principal amount of the Securities outstanding for each day during the 60-day period beginning on, and
including, the occurrence of such an Event of Default during which such Event of Default is continuing. Additional Interest payable pursuant to this Section 6.04 shall be in addition to, not in lieu of, any Additional Interest payable pursuant
to Section 3.02(d) or Section 3.02(e). If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Securities. On the 61st day after such Event of Default (if the
Event of Default relating to the Company’s failure to file is not cured or waived prior to such 61st day), the Securities will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay
Additional Interest following an Event of Default in accordance with this Section 6.04, the Securities shall be subject to acceleration as provided in Section 6.02. 
  

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 In order to elect to pay Additional Interest as the sole remedy during the first 60 days
after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify all Holders of the Securities, the Trustee and the Paying Agent of such election prior to the beginning of such 60-day period.
Upon the failure to timely give such notice, the Securities shall be immediately subject to acceleration as provided in Section 6.02. 
 Section 6.05. Waiver of Past Defaults. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may (a) waive, by their consent (including
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities), an existing Default or Event of Default and its consequences except (i) a Default or Event of Default in the payment of the principal of or
interest on a Security or (ii) a Default or Event of Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected and (b) rescind any such acceleration with respect to the
Securities and its consequences if (i) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (ii) all existing Events of Default, other than the nonpayment of the principal of and interest on
the Securities that have become due solely by such declaration of acceleration, have been cured or waived. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event
of Default or impair any consequent right. 
 Section 6.06. Control by Majority. 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 of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture or, subject to Sections 7.01 and 7.02, that the Trustee determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal liability;
provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. 
 Section 6.07. Limitation on Suits. Subject to Section 6.08, a Holder may not pursue any remedy with respect to this Indenture or the Securities unless: 
 (a) such Holder has previously given to the Trustee written notice stating that an Event of Default is continuing; 
 (b) Holders of at least 25% in principal amount of the outstanding Securities have requested that the Trustee pursue the remedy; 

(c) such Holders have offered to the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense
to be incurred in compliance with such request; 
 (d) the Trustee has not complied with such request within 60 days after
receipt of the request and the offer of security or indemnity; and 
  

 33 

 (e) the Holders of a majority in principal amount of the outstanding Securities have not
given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 
 A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. 
 Section 6.08. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including Section 6.07) and any provision of any Security, the right of any
Holder to receive payment or delivery, as the case may be, of (x) the principal (including the Fundamental Change Purchase Price, if applicable) of, (y) accrued and unpaid interest on, and (z) the consideration due upon conversion of,
such Security, on or after the respective due dates expressed or provided for in such Security or in this Indenture, or to institute suit for the enforcement of any such payment or delivery, as the case may be, on or after such respective dates
against the Company shall not be impaired or affected without the consent of such Holder. 
 Section 6.09. Collection
Suit by Trustee. If an Event of Default specified in clauses (a) or (b) of Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the
whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07. 
 Section 6.10. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or its or their
respective creditors or properties and, unless prohibited by law or applicable regulations, may be entitled and empowered to participate as a member of any official committee of creditors appointed in such matter, and may vote on behalf of the
Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make 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 for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due to
the Trustee under Section 7.07. 
 Section 6.11. Priorities. If the Trustee collects any money or property
pursuant to this Article 6, it shall pay out the money or property in the following order: 
 FIRST: to the
Trustee for amounts due under Section 7.07; 
 SECOND: to Holders for amounts due and unpaid on the
Securities for principal and interest ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 
  

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 THIRD: to the Company. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.11. At least 15 days before
such record date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 
 Section 6.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted a proceeding to enforce any right or remedy under this Indenture and the proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any determination in the proceeding, the Company, the Trustee, any Subsidiaries and the Holders will be restored severally
and respectively to their former positions hereunder and thereafter all rights and remedies of the Company, the Trustee, any Subsidiaries and the Holders will continue as though no such proceeding had been instituted. 
 Section 6.13. Undertaking of 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 6.13 does not
apply to a suit by the Trustee, a suit by the Company, a suit by a Holder pursuant to Section 6.08 or a suit by Holders of more than 10% in outstanding principal amount of the Securities. 
 ARTICLE 7 
 TRUSTEE 
 Section 7.01. Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs; provided that if an
Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee
reasonable indemnity or security against loss, liability or expense that might be incurred in compliance with such request or direction. 
 (b) Except during the continuance of an Event of Default: 
 (i) the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  

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 (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, opinions or orders furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such
certificates, opinions or orders which by any provisions 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 (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (c)
The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) of this Section 7.01; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer of the Trustee 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 Section 6.06. 
 (d) Every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01. 
 (e) The Trustee
shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. 
 (f)
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have
reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.01 and to the
provisions of the TIA. 
 (i) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice
from the Company shall be sufficient if signed by an Officer of the Company. 
  

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 (j) The Trustee shall not be deemed to have knowledge of any Default or Event of Default
except any Default or Event of Default of which a Trust Officer shall have (x) received written notification at the Corporate Trust Office and such notice references the Securities and this Indenture or (y) obtained actual knowledge. The
term “actual knowledge” shall mean the actual fact or statement of knowing by a Trust Officer without independent investigation with respect thereto. 
 Section 7.02. Rights of Trustee. Subject to Section 7.01: 
 (a)
The Trustee may conclusively rely on any document (whether in its original or facsimile form) believed by it in good faith 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. The Trustee shall receive and retain financial reports and statements of the Company as provided herein, but shall have no duty to review or analyze such reports or statements to determine compliance under covenants or other
obligations of the Company. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
and/or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officers’ Certificate or Opinion of Counsel. 
 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it
believes to be authorized or within its rights or powers. 
 (e) The Trustee may consult with counsel of its selection, and the
advice or opinion of counsel with respect to legal matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in
good faith and in accordance with the advice or opinion of such counsel. 
 (f) The Trustee shall not be responsible or liable
for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) resulting from actions taken in good faith and which the Trustee believes to be authorized or within its rights or powers.

 (g) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, Securities Custodian and other Person employed to act hereunder. 
 (h) 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. 
  

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 Section 7.03. Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights.
However, the Trustee must comply with Sections 7.10 and 7.11. In addition, the Trustee shall be permitted to engage in transactions with the Company; provided, however, that if the Trustee acquires any conflicting interest the Trustee must
(i) eliminate such conflict within 90 days of acquiring such conflicting interest, (ii) apply to the SEC for permission to continue acting as Trustee (if this Indenture is then qualified under the TIA) or (iii) resign. 
 Section 7.04. 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, shall not be accountable for the Company’s use of the proceeds from the Securities, shall not be responsible for the use or application of any money received by any Paying Agent other than the
Trustee and shall not be responsible for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication.

 Section 7.05. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if a Trust
Officer of the Trustee has actual knowledge thereof, the Trustee shall mail by first class mail to each Holder at the address set forth in the Securities Register notice of the Default or Event of Default within 90 days after it occurs. Except in
the case of a Default or Event of Default in payment of principal of or interest on any Security (including payments pursuant to the required repurchase provisions of such Security, if any), the Trustee may withhold the notice if and so long as its
board of directors, a committee of its board of directors or a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of Holders. 
 Section 7.06. Reports by Trustee to Holders. As promptly as practicable after each February 15 beginning with the
February 15 following the date of this Indenture, and in any event prior to April 1 in each year, the Trustee shall mail to each Holder a brief report dated as of such February 15 that complies with TIA § 313(a), if required by
such TIA § 313(a). The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports required by TIA § 313(c). 
 Section 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the Company
and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. In addition to the compensation the Company shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred or made by it. Such expenses shall include the reasonable compensation and out-of-pocket expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts.
The Company shall indemnify the Trustee against any and all loss, liability, damages, claims or expense (including reasonable attorneys’ fees and expenses) incurred by it without negligence or bad faith on its part in connection with the
administration of

  

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this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture (including this Section 7.07) and of defending itself against any claims
(whether asserted by any Holder, the Company or otherwise). The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations
hereunder. The Company shall defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel and the Company shall pay the fees and expenses of such counsel,
provided that the Company shall not be required to pay such fees and expenses if it assumes the Trustee’s defense, and, in the reasonable judgment of outside counsel to the Trustee, there is no conflict of interest between the Company and the
Trustee in connection with such defense. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct, negligence or bad faith. 

To secure the Company’s payment obligations in this Section 7.07, the Trustee shall have a lien prior to the Securities on all
money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. Such lien shall survive the satisfaction and discharge of this Indenture. The Trustee’s
right to receive payment of any amounts due under this Section 7.07 shall not be subordinate to any other unsecured liability or debt of the Company. 
 The Company’s payment obligations pursuant to this Section 7.07 shall survive the discharge of this Indenture. When the Trustee incurs expenses after the occurrence of a Default specified in
Section 6.01(h) and 6.01(i) with respect to the Company, the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 7.08. Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Securities may remove the Trustee by
so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: 
 (a)
the Trustee fails to comply with Section 7.10; 
 (b) the Trustee is adjudged bankrupt or insolvent;

 (c) a receiver or other public officer takes charge of the Trustee or its property; or 
 (d) the Trustee otherwise becomes incapable of acting. 
 If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Securities and such Holders
do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor
Trustee. 
  

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 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall
mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of at least 10% in principal amount of the Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b),
any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 
 Section 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee Person without any further act shall be the successor Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created
by this Indenture, any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in
case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; provided
that the right to adopt the certificate of authentication of any predecessor Trustee or authenticate Securities in the name of any predecessor Trustee shall only apply to its successor or successors by merger, consolidation or conversion.

 Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of TIA
§ 310(a). The Trustee shall have a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b); provided, however, that there
shall be excluded from the operation of TIA § 310(b)(1) the Indenture dated as of June 26, 2006 between the Company and the Trustee and any other indenture or indentures under which other securities or certificates of interest or
participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 
  

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 Section 7.11. Preferential Collection of Claims Against Company. 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. 
 ARTICLE 8 
 DISCHARGE OF INDENTURE 
 Section 8.01. Discharge of Liability on
Securities. When (1) the Company shall deliver to the Registrar for cancellation all Securities theretofore authenticated (other than any Securities which have been destroyed, lost or wrongfully taken and in lieu of or in substitution for
which other Securities shall have been authenticated and delivered) and not theretofore canceled, or (2) all the Securities not theretofore canceled or delivered to the Registrar for cancellation shall have (a) been deposited for
conversion (after all related Observation Periods have elapsed) and the Company shall deliver to the Holders cash and shares of Common Stock, as applicable, sufficient to pay all amounts owing in respect of all Securities (other than any Securities
which shall have been mutilated, destroyed, lost or wrongfully taken and in lieu of or in substitution for which other Securities shall have been authenticated and delivered) not theretofore canceled or delivered to the Registrar for cancellation or
(b) become due and payable on the Stated Maturity or Fundamental Change Purchase Date, as applicable, and the Company shall deposit with the Trustee cash and shares of Common Stock, as applicable, sufficient to pay all amounts owing in respect
of all Securities (other than any Securities which shall have been mutilated, destroyed, lost or wrongfully taken and in lieu of or in substitution for which other Securities shall have been authenticated and delivered) not theretofore canceled or
delivered to the Registrar for cancellation, including the principal amount and interest accrued and unpaid to such Stated Maturity or Fundamental Change Purchase Date, as the case may be, and if in either case (1) or (2) the Company shall
also pay or cause to be paid all other sums payable hereunder by the Company, then this Indenture with respect to the Securities shall cease to be of further effect (except as to (i) remaining rights of registration of transfer, substitution
and exchange and conversion of Securities; (ii) rights hereunder of Holders to receive from the Trustee payments of the amounts then due, including interest with respect to the Securities and the other rights, duties and obligations of Holders,
as beneficiaries hereof solely with respect to the amounts, if any, so deposited with the Trustee; and (iii) the rights, obligations and immunities of the Trustee, Authenticating Agent, Paying Agent, Conversion Agent and Registrar under this
Indenture with respect to the Securities), and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as required by Section 8.03 and at the cost and expense of the Company, shall execute
proper instruments acknowledging satisfaction of and discharging this Indenture with respect to the Securities; however, the Company hereby agrees to reimburse the Trustee, Authenticating Agent, Paying Agent, Conversion Agent and Registrar for any
costs or expenses thereafter reasonably and properly incurred by the Trustee, Authenticating Agent, Paying Agent, Conversion Agent and Registrar and to compensate the Trustee, Authenticating Agent, Paying Agent, Conversion Agent and Registrar for
any services thereafter reasonably and properly rendered by the Trustee, Authenticating Agent, Paying Agent, Conversion Agent and Registrar in connection with this Indenture with respect to the Securities. 
  

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 Section 8.02. Reinstatement. If the Trustee or the Paying Agent is unable to
apply any money to the Holders entitled thereto by reason of any order or judgment of any court of governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture with
respect to the Securities and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with
this Indenture and the Securities to the Holders entitled thereto; provided, however, that if the Company makes any payment of principal amount of or interest on any Securities following the reinstatement of its obligations, the Company shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 
 Section 8.03. Officers’ Certificate; Opinion of Counsel. Upon any application or demand by the Company to the Trustee to take any action under Section 8.01, the Company shall furnish
to the Trustee an Officers’ Certificate or Opinion of Counsel stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with. 
 ARTICLE 9 
 AMENDMENTS 
 Section 9.01. Without Consent of Holders. The Company, and the Trustee may
amend this Indenture or the Securities without notice to or consent of any Holder: 
 (a) to cure any ambiguity, omission,
defect or inconsistency; 
 (b) to comply with Article 4 in respect of the assumption by a Successor Company of an obligation of
the Company under this Indenture; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that the uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code or in a manner such that the uncertificated Securities are described in Section 163(f)(2)(B)
of the Code; 
 (d) to add guarantees with respect to the Securities; 
 (e) to secure the Securities; 
 (f) to add to the covenants of the Company for the benefit of the Holders or to surrender any right or power herein conferred upon the Company; 
 (g) to comply with any requirement of the SEC in connection with the qualification of this Indenture under the TIA; 
  

 42 

 (h) to make any change that does not materially adversely affect the rights of any Holder;
or 
 (i) to conform the provisions of this Indenture to the “Description of notes” section of the Offering
Memorandum. 
 After an amendment under this Section 9.01 becomes effective, the Company shall mail to Holders a notice
briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01. 
 Section 9.02. With Consent of Holders. The Company and the Trustee may amend this Indenture or the Securities without notice to
any Holder but with the consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) and past
Defaults or compliance with the provisions of this Indenture may be waived with the consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a purchase of,
or tender offer or exchange offer for, Securities). However, without the consent of each Holder affected, an amendment or waiver may not: 
 (a) reduce the amount of Securities whose Holders must consent to an amendment; 
 (b) reduce the rate of or extend the stated time for payment of interest on any Security; 
 (c) reduce the principal
of or extend the Stated Maturity of any Security; 
 (d) make any change that adversely affects the conversion rights of any
Securities; 
 (e) reduce the Fundamental Change Purchase Price of any Security or amend or modify in any manner adverse to
Holders of the Securities the Company’s obligation to purchase Securities upon the occurrence of a Fundamental Change, whether through an amendment to or waiver of a provision in the covenants, definitions or otherwise; 
 (f) make any Security payable in money other than that stated in the Security (it being understood that all references to cash in this
Indenture and the Securities are to U.S. legal tender); 
 (g) impair the right of any Holder to receive payment of principal of
and interest on such Holder’s Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Securities; or 
 (h) make any change to the amendment provisions which require each Holder’s consent or to the waiver provisions. 
  

 43 

 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 or waiver, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment or waiver under this Indenture by any Holder of the Securities given in connection
with a tender or exchange of such Holder’s Securities will not be rendered invalid by such tender or exchange. 
 After an
amendment under this Section 9.02 becomes effective, the Company shall mail to Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of
an amendment under this Section 9.02. 
 Section 9.03. Compliance with Trust Indenture Act. Every amendment or
supplement to this Indenture or the Securities shall comply with the TIA as then in effect. 
 Section 9.04. Revocation
and Effect of Consents and Waivers. A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee
receives the notice of revocation before the date the amendment or waiver becomes effective or otherwise in accordance with any related solicitation documents. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment
or waiver under Section 9.02 shall become effective upon receipt by the Trustee of the requisite amount of consents. 
 The
Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a
record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any
consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall become valid or effective more than 120 days after such record date. 
 Section 9.05. Notation on or Exchange of Securities. If an amendment 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 regarding the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company
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 to issue a new Security shall not affect the validity of such amendment.

 Section 9.06. Trustee to Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this
Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In

  

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signing such amendment the Trustee shall be entitled to receive and (subject to Sections 7.01 and 7.02) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of
Counsel stating that such amendment is authorized or permitted by this Indenture. 
 ARTICLE 10 
 [RESERVED] 
 ARTICLE 11 
 PURCHASE AT THE OPTION OF
HOLDER UPON A FUNDAMENTAL 
 CHANGE 
 Section 11.01. Purchase at the Option of the Holder Upon a Fundamental Change. If a Fundamental Change shall occur at any time,
each Holder shall have the right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s Securities, or any portion thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the
“Fundamental Change Purchase Date”) specified by the Company that is not less than 20 calendar days or more than 35 calendar days following the date of the Company Notice at a purchase price equal to 100% of the principal amount of
the Securities to be purchased, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”), unless the Fundamental Change Purchase Date is after
a Regular Record Date but on or prior to the interest payment date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record on such Regular Record Date
and the Fundamental Change Purchase Price shall be equal to 100% of the principal amount of Securities to be purchased pursuant to this Article 11. 
 (a) Notice of Fundamental Change. The Company, or at its request (which must be received by the Paying Agent at least five Business Days (or such lesser period as may be agreed to by the Paying
Agent) prior to the date the Paying Agent is requested to give such notice as described below) the Paying Agent, in the name of and at the expense of the Company, shall mail to all Holders and the Trustee a Company Notice of the occurrence of a
Fundamental Change and of the purchase right arising as a result thereof, including the information required by Section 11.03(a) hereof, on or before the 20th calendar day after the occurrence of such Fundamental Change. The Company shall
promptly furnish to the Paying Agent a copy of such Company Notice. 
  

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 (b) Exercise of Option. For a Security to be so purchased at the option of the
Holder, the Paying Agent must receive such Security duly endorsed for transfer, together with a written notice of purchase (a “Fundamental Change Purchase Notice”) in the form entitled “Form of Fundamental Change Purchase
Notice” attached to the Security duly completed, on or before the Business Day immediately preceding the Fundamental Change Purchase Date, subject to extension to comply with applicable law. The Fundamental Change Purchase Notice shall state:

 (i) if certificated, the certificate numbers of the Securities which the Holder shall deliver to be purchased
or if not certificated, the Fundamental Change Purchase Notice shall comply with appropriate DTC procedures; 
 (ii) the portion of the principal amount of the Securities which the Holder shall deliver to be purchased, which portion must be $1,000 in principal amount or a multiple thereof; and 
 (iii) that such Securities shall be purchased as of the Fundamental Change Purchase Date pursuant to the terms and conditions
specified in paragraph 4 of the Securities and in this Indenture. 
 (c) Procedures. The Company shall purchase from a
Holder, pursuant to this Section 11.01, Securities if the principal amount of such Securities is $1,000 or a multiple of $1,000 if so requested by such Holder. 
 Any purchase by the Company contemplated pursuant to the provisions of this Section 11.01 shall be consummated by the delivery of the Fundamental Change Purchase Price to be received by the Holder
promptly following the later of (i) the Fundamental Change Purchase Date and (ii) the time of book-entry transfer or delivery of the Securities. 
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 11.01 shall have the right at any time
prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date to withdraw such Fundamental Change Purchase Notice (in whole or in part) by delivery of a written notice of withdrawal to the Paying Agent in
accordance with Section 11.03(b). 
 The Paying Agent shall promptly notify the Company of the receipt by it of any
Fundamental Change Purchase Notice or written notice of withdrawal thereof. 
 No later than 11:00 a.m. (New York City time) on
the Fundamental Change Purchase Date, the Company shall deposit with the Paying Agent (or if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust) cash sufficient to pay the aggregate
Fundamental Change Purchase Price of the Securities to be purchased pursuant to this Section 11.01. Payment by the Paying Agent of the Fundamental Change Purchase Price for such Securities shall be made promptly following the later of
(i) the Fundamental Change Purchase Date and (ii) the time of book-entry transfer or delivery of such Securities. If the Paying Agent holds, in accordance with the terms of this Indenture, cash sufficient to pay the Fundamental Change
Purchase Price of such Securities by 11:00 a.m. (New York City time) on the Fundamental Change Purchase Date, then, on and after such date, such Securities shall cease to be outstanding and interest on such Securities shall cease to accrue, whether
or not book-entry

  

 46 

 
transfer of such Securities is made or such Securities are delivered to the Paying Agent, and all other rights of the Holder shall terminate (other than the right to receive the Fundamental
Change Purchase Price and previously accrued and unpaid interest upon delivery or transfer of the Securities). Nothing herein shall preclude any withholding tax required by law. 
 Section 11.02. [Reserved] 
 Section 11.03. Further Conditions and Procedures for Purchase at the Option of the Holder Upon a Fundamental Change.  
 (a) Notice of Fundamental Change. The Company shall send notices (each, a “Company Notice”) to the Holders at their
addresses shown in the Securities Register maintained by the Registrar, and delivered to the Trustee and Paying Agent, not less than 20 Business Days prior to each Fundamental Change Purchase Date, or on or before the 20th calendar day after the
occurrence of the Fundamental Change (each such date of delivery, a “Company Notice Date”). Each Company Notice shall include a form of Fundamental Change Purchase Notice to be completed by a Holder and shall state: 
 (i) the applicable Fundamental Change Purchase Price; 
 (ii) Conversion Rate at the time of such notice and any expected adjustments to the Conversion Rate; 
 (iii) the applicable Fundamental Change Purchase Date and the last date on which a Holder may exercise its purchase rights
under Section 11.01; 
 (iv) the name and address of the Paying Agent and the Conversion Agent; 

(v) that Securities must be surrendered to the Paying Agent to collect payment of the Fundamental Change Purchase Price;

 (vi) that Securities as to which a Fundamental Change Purchase Notice has been given may be converted only if
the applicable Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this Indenture; 
 (vii) that the Fundamental Change Purchase Price for any Securities as to which a Fundamental Change Purchase Notice has been given and not withdrawn shall be paid by the Paying Agent promptly following the later of the Fundamental Change
Purchase Date or the time of book-entry transfer or delivery of such Securities; 
 (viii) the procedures the
Holder must follow under Sections 11.01 and Section 11.03; 
 (ix) briefly, the conversion rights of the
Securities; 
  

 47 

 (x) that, unless the Company defaults in making payment of such Fundamental
Change Purchase Price on Securities covered by any Fundamental Change Purchase Notice, interest will cease to accrue on and after the Fundamental Change Purchase Date; 
 (xi) the CUSIP or ISIN number of the Securities; 
 (xii) the procedures for withdrawing a Fundamental Change Purchase Notice; and 
 (xiii) in the case of a Company Notice pursuant to Section 11.01, the events causing a Fundamental Change and the date
of the Fundamental Change. 
 Simultaneously with providing such Company Notice, the Company will publish a notice containing
the information in such Company Notice in a newspaper of general circulation in The City of New York or publish such information on its then existing website or through such other public medium as it may use at the time. 
 At the Company’s request, made at least five Business Days (or such lesser period as may be agreed to by the Paying Agent) prior to the
date upon which such notice is to be mailed, and at the Company’s expense, the Paying Agent shall give the Company Notice in the Company’s name; provided, however, that, in all cases, the text of the Company Notice shall be prepared
by the Company. 
 (b) Effect of Fundamental Change Purchase Notice; Withdrawal; Effect of Event of Default. Upon receipt
by the Company of the Fundamental Change Purchase Notice specified in Section 11.01(b), the Holder of the Securities in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is
withdrawn as specified in the following two paragraphs) thereafter be entitled to receive solely the Fundamental Change Purchase Price with respect to such Securities. Such Fundamental Change Purchase Price shall be paid by the Paying Agent to such
Holder promptly following the later of (x) the Fundamental Change Purchase Date with respect to such Securities (provided the conditions in this Article 11 have been satisfied) and (y) the time of delivery or book-entry transfer of
such Securities to the Paying Agent by the Holder thereof in the manner required by Section 11.01. Securities in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not be converted on or 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 two paragraphs. 
 A Fundamental Change Purchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent
at any time prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date to which it relates, specifying: 
 (i) the principal amount of the Securities with respect to which such notice of withdrawal is being submitted; 
  

 48 

 (ii) if certificated, the certificate number of the Securities in respect of
which such notice of withdrawal is being submitted, or, if not certificated, the written notice of withdrawal must comply with appropriate DTC procedures; and 
 (iii) the principal amount, if any, of such Securities which remains subject to the original Fundamental Change Purchase
Notice and which has been or shall be delivered for purchase by the Company. 
 There shall be no purchase of any Securities
pursuant to Section 11.01 if an Event of Default has occurred and is continuing (other than a default that is cured by the payment of the Fundamental Change Purchase Price). The Paying Agent shall 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 that is cured
by the payment of the Fundamental Change Purchase Price) in which case, upon such return, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
 (c) Securities Purchased in Part. Any Securities that are to be purchased only in part shall be surrendered at the office of the
Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly
authorized in writing) and the Company shall execute and the Trustee or the Authenticating Agent shall authenticate and deliver to the Holder of such Securities, without service charge, 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 Securities so surrendered which is not purchased or redeemed. 
 (d) Covenant to Comply with Securities Laws Upon Purchase of Securities. In connection with any offer to purchase Securities under
Section 11.01, the Company shall, to the extent applicable, (a) comply with Rules 13e-4 and 14e-1 (and any successor provisions thereto) under the Exchange Act, if applicable; (b) file the related Schedule TO (or any successor
schedule, form or report) under the Exchange Act, if applicable; and (c) otherwise comply with all applicable federal and state securities laws so as to permit the rights and obligations under Section 11.01 to be exercised in the time and
in the manner specified in Section 11.01. 
 (e) Repayment to the Company. The Trustee and the Paying Agent shall
return to the Company any cash or property that remains unclaimed, as provided in paragraph 8 of the Securities, together with interest that the Trustee or Paying Agent, as the case may be, has expressly agreed in writing to pay, if any, that is
held by them for the payment of a Fundamental Change Purchase Price; provided, however, that to the extent that the aggregate amount of cash or property deposited by the Company pursuant to Section 11.01(c) exceeds the aggregate
Fundamental Change Purchase Price of the Securities or portions thereof which the Company is

  

 49 

 
obligated to purchase as of the Fundamental Change Purchase Date, then promptly after the Business Day following the Fundamental Change Purchase Date, the Trustee and the Paying Agent shall
return any such excess to the Company together with interest that the Trustee or Paying Agent, as the case may be, has expressly agreed in writing to pay, if any. 
 ARTICLE 12 
 CONVERSION 
 Section 12.01. Conversion of Securities. (a) Right to Convert. Subject to the procedures for conversion set forth in
this Article 12, each Holder shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Security (1) subject to
satisfaction of the conditions described in clauses (i), (ii) or (iii) below, at any time prior to the close of business on the Business Day immediately preceding September 15, 2019 under the circumstances and during the periods
set forth below, and (2) irrespective of the conditions described in clauses (i), (ii) or (iii) below, on or after September 19, 2019 and prior to the close of business on the second Scheduled Trading Day immediately
preceding the Stated Maturity, in each case, at the applicable Conversion Rate. Whenever the Securities shall become convertible upon one or more of the conditions stated in clauses (i), (ii) or (iii) below, the Company or, at the
Company’s request, the Trustee in the name and at the expense of the Company, shall notify the Holders of the event triggering such convertibility in the manner provided in Section 13.02 and the Company shall also publicly announce such
information by publication on the Company’s website or through such other public medium as it may use at such time. Whenever the Securities shall become convertible upon one or more of the conditions stated in clauses (iii)(A) or (iii)(B),
notice of the event triggering such convertibility shall be given in accordance with the provisions of Section 11.01(a) and 11.03, as applicable. Any notice so given shall be conclusively presumed to have been duly given, whether or not the
Holder receives such notice. 
 (i) Conversion Upon Satisfaction of Sale Price Condition. Prior to the
close of business on the Business Day immediately preceding September 15, 2019, a Holder may surrender all or a portion of its Securities for conversion during any fiscal quarter (and only during such fiscal quarter) commencing after
June 30, 2010 if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days during the period of 30 consecutive Trading Days ending on the last Trading Day of the preceding fiscal quarter is greater than or equal to 130% of
the applicable Conversion Price in effect on such last Trading Day. 
 (ii) Conversion Upon Satisfaction of
Trading Price Condition. Prior to the close of business on the Business Day immediately preceding September 15, 2019, a Holder may surrender its Securities for conversion during the five Business Day period after any 10 consecutive Trading
Day period in which the Trading Price per $1,000 principal amount of Securities, as determined following a request by a Holder in accordance with the procedures set forth in this Section 12.01(a)(ii), for each day of that period was less than
98% of the product of the Last Reported Sale Price of the Common

  

 50 

 
Stock and the applicable Conversion Rate. In connection with any conversion in accordance with this Section 12.01(a)(ii), the Bid Solicitation Agent shall have no obligation to determine the
Trading Price of the Securities unless requested by the Company; and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of
Securities would be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. Promptly after receiving such evidence, the Company shall instruct the Bid Solicitation Agent to determine the
Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of
the Common Stock and the applicable Conversion Rate. If the Company does not instruct the Bid Solicitation Agent to determine the Trading Price of the Securities when obligated as provided in the preceding sentence, or if the Company gives such
instruction to the Bid Solicitation Agent, and the Bid Solicitation Agent fails to make such determination, then the Trading Price per $1,000 principal amount of Securities shall be deemed to be less than 98% of the product of the Last Reported Sale
Price of the Common Stock and the applicable Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other
than the Trustee). If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Securities is greater than 98% of the product of the Last Reported Sale Price of the Common Stock and
the applicable Conversion Rate, the Company shall so notify the Holders of the Securities, the Trustee and the Conversion Agent (if other than the Trustee). 
 (iii) Conversion Upon Specified Corporate Transactions.  
 (A) Prior to the close of business on the Business Day immediately preceding September 15, 2019, if the Company
(1) issues to all or substantially all holders of Common Stock rights entitling them to purchase, for a period expiring within 60 days after the date of the distribution, shares of Common Stock at less than the average of the Last Reported Sale
Price of a share of Common Stock for the 10 consecutive Trading Day period ending on the Business Day preceding the commencement of such issuance, or (2) distributes to all or substantially all holders of Common Stock assets, debt securities or
rights to purchase securities of the Company, which distribution has a per share Fair Market Value, as reasonably determined by the Board of Directors of the Company, exceeding 10% of the Last Reported Sale Price of the Common Stock on the day
preceding the declaration date for such distribution, then, in each case, the Company must notify the Holders, in the manner provided in Section 13.02, at least 35 Scheduled Trading Days prior to the Ex-Dividend Date for such distribution. Once
the Company has given such notice, Holders may surrender Securities for conversion at any time until the earlier of the close of business on the Business Day immediately prior to such Ex-Dividend Date or the Company’s announcement that such
distribution will not take place, even if the Securities are not otherwise convertible at such time. 
  

 51 

 (B) Prior to the close of business on the Business Day immediately
preceding September 15, 2019, if a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs, regardless of whether a Holder has the right to require the Company to purchase the Securities pursuant to
Section 11.01, or if the Company is a party to a consolidation, merger, binding share exchange, or transfer or lease of all or substantially all of its assets, pursuant to which the Common Stock would be converted into cash, securities or other
assets, the Securities may be surrendered for conversion at any time from or after the date which is 35 Scheduled Trading Days prior to the anticipated effective date of the transaction (or, if later, the Business Day after the Company gives notice
of such transaction) until 35 Trading Days after the actual effective date of such transaction or, if such transaction also constitutes a Fundamental Change, until the related Fundamental Change Purchase Date. The Company shall notify the Holders,
Trustee and Conversion Agent (if other than the Trustee) (1) as promptly as practicable following the date the Company publicly announces such transaction but in no event less than 35 Scheduled Trading Days prior to the anticipated effective
date of such transaction or (2) if the Company does not have knowledge of such transaction at least 35 Scheduled Trading Days prior to the anticipated effective date of such transaction, within one Business Day of the date upon which the
Company receives notice, or otherwise becomes aware, of such transaction but in no event later than the actual effective date of such transaction. 
 A Holder may convert a portion of the principal amount of Securities if the portion is $1,000 or a multiple of $1,000. The cash payable, and the number of shares of Common Stock issuable, if any, upon conversion of a Security shall be
determined as set forth in Section 12.01(c). 
 (b) Conversion Procedures. The following procedures shall apply to
the conversion of Securities: 
 (i) In respect of a Definitive Security, a Holder must (A) complete and
manually sign the conversion notice attached to the Security, or a facsimile of such conversion notice; (B) deliver such conversion notice, which is irrevocable, and the Security to the Conversion Agent at the office maintained by the
Conversion Agent for such purpose; (C) to the extent any shares of Common Stock issuable upon conversion are to be issued in a name other than the Holder’s, furnish endorsements and transfer documents as may be required by the Conversion
Agent and, if required pursuant to Section 12.01(e) below, pay all transfer or similar taxes; and (D) if required pursuant to Section 2.01(d) above, pay funds equal to interest payable on the next interest payment date to which such
Holder is not entitled. 
  

 52 

 (ii) In respect of a beneficial interest in a Global Security, a Beneficial
Owner must comply with DTC’s procedures for converting a beneficial interest in a Global Security and, if required pursuant to Section 2.01(d) above, pay funds equal to interest payable on the next interest payment date to which such
Beneficial Owner is not entitled, and if required, taxes or duties, if any. 
 The date a Holder satisfies the foregoing requirements is the
“Conversion Date” hereunder. 
 If a Holder converts more than one Security at the same time, the cash and
number of shares of Common Stock issuable upon the conversion, if any, shall be based on the total principal amount of the Securities converted. 
 Upon surrender of a Security that is converted in part, the Company shall execute, and the Trustee or the Authenticating Agent shall authenticate and deliver to the Holder, a new Security in an authorized
denomination equal in principal amount to the unconverted portion of the Security surrendered. 
 The Person in whose name the
certificate for any shares of Common Stock delivered upon conversion is registered shall be treated as a stockholder of record as of the close of business on the last Trading Day of the related Observation Period. Upon a conversion of Securities,
such Person shall no longer be a Holder of such Securities surrendered for conversion. 
 (c) Payment Upon Conversion.
Upon any conversion of any Security, the Company shall deliver to converting Holders, in respect of each $1,000 principal amount of Securities being converted, a “Settlement Amount” equal to the sum of the Daily Settlement Amounts
for each of the 25 Trading Days during the Observation Period for such Security. 
 “Daily Settlement Amount,”
for each of the 25 Trading Days during the Observation Period, shall consist of: 
 (i) cash equal to the lesser
of $40 and the Daily Conversion Value; and 
 (ii) to the extent the Daily Conversion Value exceeds $40, a number
of shares of Common Stock equal to (A) the difference between the Daily Conversion Value and $40, divided by (B) the Daily VWAP for such day. 
 “Daily Conversion Value” means, for each of the 25 consecutive Trading Days during the Observation Period, 4% of the product of (1) the applicable Conversion Rate and (2) the
Daily VWAP of the Common Stock on such day. 
 “Daily VWAP” means, for each of the 25 consecutive Trading Days
during the Observation Period, the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “GPI.N <equity> AQR” (or its equivalent successor if such page is not available)
in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common
Stock

  

 53 

 
on such Trading Day as determined using a volume-weighted average method by a nationally recognized independent investment banking firm retained for this purpose by the Company). Daily VWAP shall
be determined without regard to after hours trading or any other trading outside the regular trading session trading hours. 
 Except as provided in Section 12.03(b), upon any conversion of any Security, on the third Business Day immediately following the last day of the Observation Period for such Security, the Company will deliver to converting Holders the
Settlement Amount in respect of any Security converted. 
 (d) Cash Payments in Lieu of Fractional Shares. The Company
shall not issue a fractional share of Common Stock upon conversion of Securities. Instead the Company shall deliver cash for the current market value of the fractional share. The current market value of a fractional share shall be determined to the
nearest 1/10,000th of a share by multiplying the Daily VWAP of a full share of Common Stock on the final Trading Day of the related Observation Period by the fractional amount and rounding the product to the nearest whole cent. 
 (e) Taxes on Conversion. If a Holder converts Securities, the Company shall pay any documentary, stamp or similar issue or transfer
tax due on the issue of shares of Common Stock upon the conversion. However, the Holder shall pay any such tax which is due because the Holder requests the shares to be issued in a name other than the Holder’s name. The Conversion Agent may
refuse to deliver the certificates representing the Common Stock being issued in a name other than the Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax which shall be due because the shares are to be issued in a
name other than the Holder’s name, but the Conversion Agent shall have no duty to determine if any such tax is due. Nothing herein shall preclude any withholding of tax required by law. 
 (f) Certain Covenants of the Company. 
 (i) The Company shall, prior to issuance of any Securities hereunder, and from time to time as may be necessary, reserve out of its authorized but unissued Common Stock or shares of Common Stock held in
treasury, a sufficient number of shares of Common Stock, free of preemptive rights, to permit the conversion of the Securities. 
 (ii) All shares of Common Stock delivered upon conversion of the Securities shall be newly issued shares or treasury shares, shall be duly and validly issued and fully paid and nonassessable and shall be
free from preemptive rights and free of any lien or adverse claim. 
 (iii) The Company shall endeavor promptly
to comply with all federal and state securities laws regulating the issuance and delivery of shares of Common Stock upon the conversion of Securities, if any, and shall cause to have listed or quoted all such shares of Common Stock on each U.S.
national securities exchange or over-the-counter or other domestic market on which the Common Stock is then listed or quoted. 
  

 54 

 (iv) 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 per share the Common Stock, if any, of the shares of Common Stock issuable upon conversion of the Securities, the Company will take all
corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue shares of such Common Stock at such adjusted Conversion Rate. 
 Section 12.02. Adjustments to Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company if any of
the following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Securities participate (other than in the case of a share split or share combination), at the same time and upon the same
terms as holders of the Common Stock and solely as a result of holding the Securities, in any of the transactions described in this Section 12.02, without having to convert their Securities, as if they held a number of shares of Common Stock
equal to the applicable Conversion Rate, multiplied by the principal amount (expressed in thousands) of Securities held by such Holder. 
 (a) If the Company exclusively issues shares of Common Stock as a dividend or distribution on shares of the Common Stock, or effects a share split or share combination, the Conversion Rate shall be
adjusted based on the following formula: 

 

 

  

					
	where,	  		  	
			
	        CR0
	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on
the effective date of such share split or share combination, as applicable;
			
	        CR'	  	=	  	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or effective date;
			
	        OS0
	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or effective date; and
			
	        OS'	  	=	  	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

  

 55 

 Any adjustment made under this Section 12.02(a) shall become effective immediately after the open of
business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination. If any dividend or distribution of the type described in this
Section 12.02(a) is declared but not so paid or made, or any share split or combination of the type described in this Section 12.02(a) is announced but the outstanding shares of Common Stock are not split or combined, as the case may be,
the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors of the Company determines not to pay such dividend or distribution, or not to split or combine the outstanding shares of Common Stock, as the case
may be, to the Conversion Rate that would then be in effect if such dividend, distribution, share split or share combination had not been declared or announced. 
 (b) If the Company issues to all or substantially all holders of its Common Stock any rights or warrants entitling them for a period of not more than 60 calendar days after the announcement date of such
issuance to subscribe for or purchase shares of Common Stock at a price per share less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on the Business Day immediately preceding
the date of announcement of such issuance, the Conversion Rate shall be adjusted based on the following formula (provided that the Conversion Rate will be readjusted to the extent that such rights or warrants are not exercised prior to their
expiration): 

 

 

  

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

  

 56 

 Any increase made under this Section 12.02(b) shall be made successively whenever any such rights or
warrants are issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration of such rights or warrants, the
Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights 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 Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred. 
 For purposes of this Section 12.02(b), in determining whether any rights or warrants entitle the holders to subscribe for or purchase shares of the
Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the date of announcement for such issuance, and in determining the
aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights or warrants and any amount payable on exercise or conversion thereof, the value of such
consideration, if other than cash, to be determined by the Board of Directors of the Company. 
 (c) If the Company distributes
shares of its Capital Stock, evidences of its indebtedness, other assets or property or rights, options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding
(i) dividends, distributions, rights or warrants as to which an adjustment was effected pursuant to Section 12.02(a) or Section 12.02(b), (ii) dividends or distributions paid exclusively in cash, and (iii) Spin-Offs as to
which the provisions set forth below in this Section 12.02(c) shall apply (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities of
the Company, the “Distributed Property”), then the Conversion Rate shall be adjusted based on the following formula: 

 

 

  

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

  

 57 

 If the Board of Directors of the Company determines the “FMV” (as defined
above) of any distribution for purposes of this Section 12.02(c) by reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market over the same period used in computing the
Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such distribution. Notwithstanding the foregoing, if “FMV” (as defined above)
is equal to or greater than “SP0” (as defined
above), in lieu of the foregoing increase, each Holder of a Security shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common Stock receive the Distributed Property, the
amount and kind of Distributed Property such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. 
 Any increase made under the portion of this Section 12.02(c) above shall become effective immediately after the open of business on the
Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 With respect to an adjustment pursuant to this Section 12.02(c) where there has been a payment of a dividend or other distribution on
the Common Stock or shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company that is listed on a U.S. securities exchange (a “Spin-Off”), the
Conversion Rate shall be increased based on the following formula: 

 

 

  

					
	where,	  		  	
			
	          CR0	  	=	  	the Conversion Rate in effect immediately prior to the end of the Valuation Period;
			
	          CR'	  	=	  	the Conversion Rate in effect immediately after the end of the Valuation Period;
			
	        FMV0	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common
Stock over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
			
	          MP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

  

 58 

 The adjustment to the Conversion Rate under the preceding paragraph shall occur on the last day of the
Valuation Period; provided that in respect of any conversion during the Valuation Period, references in the portion of this Section 12.02(c) related to Spin-Offs to 10 Trading Days shall be deemed replaced with such lesser number of
Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the Conversion Date in determining the applicable Conversion Rate. 
 For purposes of this Section 12.02(c) (and subject in all respect to Section 12.08), rights, options or warrants distributed by the Company to all holders of its Common Stock entitling them to
subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger
Event”): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been
distributed for purposes of this Section 12.02(c) (and no adjustment to the Conversion Rate under this Section 12.02(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall
be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 12.02(c). If any such right, option or warrant, including any such existing rights, options or
warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the
date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be
deemed to terminate and expire on such date without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type
described in the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 12.02(c) was made, (1) in the case
of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or
warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share
redemption or purchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of
such redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and
warrants had not been issued. 
 For purposes of Section 12.02(a), Section 12.02(b) and this Section 12.02(c),
any dividend or distribution to which this Section 12.02(c) is applicable that also includes one or both of: 
 (A) a
dividend or distribution of shares of Common Stock to which Section 12.02(a) is applicable (the “Clause A Distribution”); or 
  

 59 

 (B) a dividend or distribution of rights or warrants to which Section 12.02(b) is
applicable (the “Clause B Distribution”), 
 then (1) such dividend or distribution, other than the Clause A Distribution
and the Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 12.02(c) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this
Section 12.02(c) with respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment
required by Section 12.02(a) and Section 12.02(b) with respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall
be deemed to be the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the open of
business on such Ex-Dividend Date or effective date” within the meaning of Section 12.02(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 12.02(b).

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

 

 

  

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

 Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder
of a Security shall receive, for each $1,000 principal amount of Securities, at the same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of
shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased to the Conversion Rate that would then be in
effect if such dividend or distribution had not been declared. 
  

 60 

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

 

 

  

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

 The adjustment to the Conversion Rate under this Section 12.02(e) shall occur at the close of business on the 10th
Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Time; provided that in respect of any conversion within the 10 Trading Days immediately following, and including, the Expiration Time, references
in this Section 12.02(e) with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Expiration Time and the Conversion Date for such conversion in determining the applicable
Conversion Rate. 
  

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 (f) Except as stated herein, the Company shall not adjust the Conversion Rate for the
issuance of shares of its Common Stock or any securities convertible into or exchangeable for shares of its Common Stock or the right to purchase shares of its Common Stock or such convertible or exchangeable securities. 
 (g) Notwithstanding the foregoing provisions of this Section 12.02, no adjustment shall be made thereunder, nor shall an adjustment be
made to the ability of a Holder to convert, for any distribution described therein if the Holder will otherwise participate in the distribution without conversion of such Holder’s Securities. 
 (h) The Company may (but is not required to) make such increases in the Conversion Rate, in addition to those required by clauses
(a) through (e) of this Section 12.02 as the Board of Directors of the Company considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase shares of Common Stock in connection with a
dividend or distribution of shares (or rights to acquire shares) or any similar event treated as such for income tax purposes. 
 (i) To the extent permitted by applicable law, the Company from time to time may increase the Conversion Rate by any amount for any period of at least 20 days if the Board of Directors of the Company shall have made a determination that
such increase would be in the best interests of the Company, which determination shall be conclusive. 
 (j) Notwithstanding any
provision herein to the contrary, no adjustment to the Conversion Rate need be made: 
 (i) upon the issuance of
any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on securities of the Company and the investment of additional optional amounts in shares of Common Stock under any
plan; 
 (ii) upon the issuance of any shares of Common Stock or options or rights to purchase shares of Common
Stock pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Company or any of its Subsidiaries; 
 (iii) upon the issuance of any shares of Common Stock pursuant to any option, warrant, right, or exercisable, exchangeable or convertible security not described in clause (ii) above and outstanding
as of the Issue Date; 
 (iv) for a change in the par value of the Common Stock; or 
 (v) for accrued and unpaid interest. 
  

 62 

 To the extent the Securities become convertible into cash, assets or property (other than Capital Stock of
the Company or securities to which Section 12.03 applies), no adjustment shall be made thereafter as to the cash, assets or property. Interest shall not accrue on such cash, assets or property. 
 (k) All calculations under this Section 12.02 shall be made by the Company 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. 
 (l) Whenever the Conversion Rate is adjusted as herein
provided, the Company shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts
requiring such adjustment. Unless and until a Trust Officer of the Trustee shall have received such Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume that the last
Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which
each adjustment becomes effective and shall mail such notice of such adjustment of the Conversion Rate to the Holder of each Security at such Holder’s last address appearing on the Securities Register provided for in Section 2.05 of this
Indenture within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 
 (m) [Reserved] 
 (n) For purposes of this Section 12.02, the number of shares
of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. If the Company pays any
dividend or makes any distribution on, or issues any rights, options or warrants in respect of, shares of Common Stock held in treasury by the Company, the Company shall not issue, transfer or convey such shares of Common Stock in a manner that
would have the effect of circumventing the provisions of this Section 12.02. 
 (o) Whenever any provision of this
Indenture requires the Company to calculate an average of Last Reported Sale Prices or Daily VWAP over a span of multiple days (including an Observation Period the Stock Price for purposes of a Make-Whole Fundamental Change), the Company shall make
appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, at any time during the period
when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated. 
 Section 12.03. Adjustment Upon Certain Fundamental Changes. (a) If a Make-Whole Fundamental Change occurs and a Holder elects to convert its Securities in connection with such Make-Whole Fundamental Change, the Company
shall, under the circumstances set forth in this Section 12.03, increase the Conversion Rate for the Securities so surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”), as
described below.

  

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A conversion of Securities shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant Notice of Conversion is received by the
Conversion Agent from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Business Day immediately prior to the related Fundamental Change Purchase Date (or, in the case of a Make-Whole Fundamental
Change that would have been a Fundamental Change but for the proviso in clause (b) of the definition thereof, the 35th Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change). 
 (b) Upon surrender of Securities for conversion in connection with a Make-Whole Fundamental Change pursuant to
Section 12.01(a)(iii)(B), the Company shall satisfy the related conversion obligation in accordance with Section 12.01(c); provided, however, that if, at the Effective Date of a Make-Whole Fundamental Change described in clause
(b) of the definition of Fundamental Change, the Reference Property is comprised entirely of cash, for any conversion of Securities following the Effective Date of such Make-Whole Fundamental Change, the conversion obligation shall be
calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount equal to the applicable Conversion Rate (including any adjustment for Additional Shares), multiplied by such Stock Price. In such event, the
conversion obligation shall be determined and paid to Holders in cash on the third Business Day following the Conversion Date. The Company shall notify the Holders of Securities of the Effective Date of any Make-Whole Fundamental Change and issue a
press release announcing such Effective Date no later than five Business Days after such Effective Date. 
 (c) The number of
Additional Shares, if any, by which the Conversion Rate shall be increased shall be determined by reference to the table attached as Schedule A hereto, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the
“Effective Date”) and the price (the “Stock Price”) paid (or deemed paid) per share of the Common Stock in the Make-Whole Fundamental Change. If the holders of Common Stock receive only cash in a Make-Whole
Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock
over the five Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. The Board of Directors of the Company shall make appropriate adjustments to the Stock Price, in
its good faith determination, to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, during such five consecutive
Trading Day period. 
 (d) The Stock Prices set forth in the column headings of the table in Schedule A hereto shall be adjusted
as of any date on which the Conversion Rate of the Securities is adjusted pursuant to Section 12.02. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the
numerator of which is the Conversion Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in such table
shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth in Section 12.02. 
  

 64 

 The exact Stock Prices and Effective Dates may not be set forth in the table in Schedule A,
in which case: 
 (i) if the Stock Price is between two Stock Prices in the table or the Effective Date is
between two Effective Dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later
Effective Dates, as applicable, based on a 365-day year; 
 (ii) if the Stock Price is greater than $90.00 per
share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate; and 
 (iii) if the Stock Price is less than $31.52 per share (subject to adjustment in the same manner as the Stock Prices set
forth in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate. 
 Notwithstanding the foregoing, in no event shall the total number of shares of Common Stock issuable upon conversion exceed 31.7259 per $1,000 principal amount of Securities, subject to adjustment in
the same manner as the Conversion Rate pursuant to Section 12.02. 
 (e) Settlement of Securities tendered for conversion
as to which the Conversion Rate will be increased by Additional Shares pursuant to this Section 12.03 shall occur as follows: 
 (i) If the last day of the Observation Period for such Securities is on or prior to the fourth Trading Day immediately preceding the Effective Date, the Company shall deliver the Settlement Amount
(together with cash in lieu of fractional shares), determined in accordance with Section 12.01(c) and Section 12.01(d) above, on the third Business Day immediately following the last day of the Observation Period; provided that such
Settlement Amount and related Daily Conversion Values shall be based on the Conversion Rate without giving effect to the Additional Shares to be added thereto as set forth in this Section 12.03. As soon as practicable following the Effective
Date, the Company shall calculate an increased Settlement Amount for such Securities (based upon the same Observation Period and the same Daily VWAP for each Trading Day in such Observation Period) as if the Conversion Rate had been increased by the
number of Additional Shares pursuant to this Section 12.03. Promptly following the Effective Date, the Company shall deliver the excess of the cash portion, if any, and Common Stock portion, if any, of such increased Settlement Amount over the
cash and Common Stock portions of the Settlement Amount calculated without such Additional Shares. Any shares of Common Stock to be delivered following the Effective Date shall be subject to Section 12.05 and shall be delivered in Reference
Property. 
  

 65 

 (ii) If the last day of the Observation Period for such Securities is after
the fourth Trading Day immediately preceding the Effective Date, the Company shall deliver the Settlement Amount (together with cash in lieu of fractional shares) in accordance with Section 12.01(c) and Section 12.01(d) above (such
determination, for the avoidance of doubt, to include the number of Additional Shares to be added to the Conversion Rate as set forth in this subsection) on the later to occur of (x) the Business Day following the Effective Date and
(y) the third Business Day immediately following the Conversion Date relating to such Securities. Any shares of Common Stock to be delivered on or following the Effective Date shall be subject to Section 12.05 and shall be delivered in
Reference Property. 
 In no event shall the Company pay any such increase to the Settlement Amount if the transaction causing the increase to
the Conversion Rate pursuant to this Section 12.03 never becomes effective. 
 Section 12.04. [Reserved]

 Section 12.05. Effect of Reclassification, Consolidation, Merger or Sale. (a) If any of the following events
occur: (i) any recapitalization, reclassification or change of the outstanding shares of Common Stock (other than a subdivision or combination to which Section 12.02(a) applies), (ii) any consolidation, merger, statutory share
exchange or combination of the Company 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 or any combination thereof) with respect to or
in exchange for such Common Stock, or (iii) any sale, lease or other transfer of the consolidated properties and assets of the Company and its Subsidiaries substantially as an entirety 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 or any combination thereof) with respect to or in exchange for such Common Stock (any such event or transaction, a “Reorganization
Event”), then at the effective time of such Reorganization Event, the right to convert each $1,000 principal amount of Securities shall be changed into a right to convert such principal amount of Securities into the kind and amount of
shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such Reorganization Event would have
owned or been entitled to receive (the “Reference Property”, with each “unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to
receive) upon such Reorganization Event and, prior to or at the effective time of such Reorganization Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture to such
effect providing for such change in the right to convert each $1,000 principal amount of Securities; provided, however, that at and after the effective time of the Reorganization Event the conversion obligation shall be calculated and settled
in accordance with Section 12.01 such that (A) the amount otherwise payable in cash upon conversion of the Securities as set forth under

  

 66 

 
Section 12.01 shall continue to be payable in cash, (B) the number of shares of Common Stock otherwise deliverable upon conversion of the Securities in accordance with
Section 12.01 shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have been entitled to receive in such Reorganization Event and (C) the Daily VWAP shall be
calculated based on the value of a unit of Reference Property. For purposes of the foregoing, the type and amount of Reference Property that a holder of Common Stock would have been entitled to receive in the case of any such Reorganization Event
that causes the Common Stock to be converted into the right to receive more than a single type of Reference Property (determined based in part upon any form of stockholder election) will be deemed to be the weighted average of the types and amounts
of consideration received by the holders of Common Stock that affirmatively make such an election. Such supplemental indenture shall provide for provisions and adjustments which shall be as nearly equivalent as may be practicable to the provisions
and adjustments provided for in this Article 12, Article 9 and Article 11 and the definition of Fundamental Change, as appropriate, as determined in good faith by the Company (which determination shall be conclusive and binding), to make such
provisions apply to such other Person if different from the original issuer of the Securities. 
 (b) [Reserved] 
 (c) The Company shall cause notice of the execution of any supplemental indenture required by this Section 12.05 to be mailed to each
Holder, at its address appearing on the Securities Register provided for in Section 2.05 of this Indenture, within 20 calendar days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such
supplemental indenture. 
 (d) The above provisions of this Section 12.05 shall similarly apply to successive
Reorganization Events. 
 (e) If this Section 12.05 applies to any event or occurrence, Section 12.02 shall not apply
in respect of such event or occurrence. 
 (f) The Company shall not become a party to any Reorganization Event unless its terms
are consistent with the foregoing. None of the foregoing provisions shall affect the right of a Holder of Securities to convert the Securities into cash and shares of Common Stock, if applicable, as set forth in Section 12.01 prior to the
effective time of such Reorganization Event. 
 Section 12.06. Responsibility of Trustee. The Trustee and any other
Conversion Agent shall not at any time be under any duty or responsibility to the Company or any Holder of Securities to determine the Conversion Rate, or whether any facts exist which may require any adjustment of the Conversion Rate, or with
respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed in making the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or
the kind or amount) of any shares of Common Stock, or of any other securities or property, which may at any time be issued or delivered upon the conversion of any Security; and the Trustee and any other Conversion Agent make no representations with
respect thereto.

  

 67 

 
Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any cash or shares of Common Stock or stock certificates or other
securities or property upon the surrender of any Security for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 12. Without limiting the generality of the foregoing,
neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 12.05 relating either to the kind or amount
of shares of stock or other securities or property (including cash) receivable by Holders upon the conversion of their Securities after any Reorganization Event or to any adjustment to be made with respect thereto, but, subject to the provisions of
Section 7.01, may accept as conclusive evidence of the correctness of any such provisions, and shall be protected in relying upon, an Officers’ Certificate with respect thereto. 
 Section 12.07. Notice to Holders Prior to Certain Actions. Except where notice is required pursuant to
Section 12.01(a)(iii), in case: 
 (a) the Company shall declare a dividend (or any other distribution) on its Common Stock
that would require an adjustment in the Conversion Rate pursuant to Section 12.02; or 
 (b) the Company shall authorize
the granting to the holders of all or substantially all of its Common Stock of rights or warrants to subscribe for or purchase any share of any class or any other rights or warrants that would require an adjustment in the Conversion Rate pursuant to
Section 12.02; or 
 (c) of any reclassification or reorganization of the Common Stock of the Company (other than a
subdivision or combination of its outstanding Common Stock, or a change in par value, or from par value to no par value, or from no par value to par value), or of any consolidation or merger to which the Company is a party and for which approval of
any stockholders of the Company is required, or of the sale, lease or other transfer of all or substantially all of the consolidated assets of the Company and its Subsidiaries; or 
 (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company; 
 the Company shall cause to be filed with the Trustee and to be mailed to each Holder of Securities at his address appearing on the Securities Register
provided for in Section 2.05 of this Indenture, as promptly as possible but in any event at least three (3) calendar days prior to the applicable date hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution or rights or warrants, or, if a record is not to be taken, the date as of which the holders of Common Stock of record to be entitled to such dividend, distribution or rights are to be determined,
or (y) the date on which such reclassification, consolidation, merger, sale, lease or other transfer, dissolution, liquidation or winding up is expected to become effective or occur, and the date as of which it is expected that holders of
Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon such reclassification, consolidation, merger, sale,

  

 68 

 
lease or other transfer, dissolution, liquidation or winding up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such dividend, distribution,
reclassification, consolidation, merger, sale, lease or other transfer, dissolution, liquidation or winding up. 
 Section 12.08. Stockholder Rights Plan. To the extent that the Company has a rights plan in effect upon conversion of the Securities into Common Stock by any Holder, the Holder will receive, in addition to the Common Stock, the
rights under the rights plan, unless prior to any conversion, the rights have separated from the Common Stock, in which case, and only in such case, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all
holders of Common Stock shares of the Company’s Capital Stock, evidences of indebtedness or assets as described in Section 12.02(c) above, subject to readjustment in the event of the expiration, termination or redemption of such rights. In
lieu of any such adjustment, the Company may amend such applicable stockholder rights agreement to provide that upon conversion of the Securities the Holders will receive, in addition to the Common Stock issuable upon such conversion, the rights
which would have attached to such Common Stock if the rights had not become separated from the Common Stock under such applicable stockholder rights agreement. 
 Section 12.09. Limit on Issuance of Shares of Common Stock Upon Conversion. Notwithstanding anything to the contrary in this Indenture, if an event occurs that would result in an increase in
the Conversion Rate by an amount in excess of limitations imposed by any shareholder approval rules or listing standards of any national or regional securities exchange that are applicable to the Company, the Company will, at its option, either
obtain stockholder approval of any issuance of Common Stock upon conversion of the Securities in excess of such limitations or deliver cash in lieu of any shares of Common Stock otherwise deliverable upon conversions in excess of such limitations
based on the Daily VWAP of the Common Stock on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company delivers cash pursuant to this Section 12.09. 
 ARTICLE 13 
 MISCELLANEOUS 
 Section 13.01. Trust Indenture Act Controls. If any provision of this
Indenture limits, qualifies or conflicts with another provision which is required to be included in an indenture subject to the TIA, the provision required by the TIA shall control. 
  

 69 

 Section 13.02. Notices. Any notice or communication shall be in writing
(including telecopy promptly confirmed in writing) and delivered in person or mailed by first-class mail addressed as follows: 
 if to the Company: 
 Group 1 Automotive, Inc. 
 800 Gessner, Suite 500 
 Houston, Texas 77024 
 Attention: General Counsel 
 Fax: (713) 647-5869 
 With a copy to (which shall not constitute notice): 
 Vinson & Elkins L.L.P. 
 First City Tower 
 1001 Fannin Street, Suite 2300 
 Houston, Texas 77002 
 Attention: Douglas E. McWilliams 
 Fax: (713) 615-5725 
 if to the Trustee: 
 Wells Fargo Bank, National Association 
 MAC T5303-022 
 1445 Ross Avenue, 2nd Floor 
 Dallas, Texas 75202-2812 
 Attention: Corporate Trust Services 
 Fax: (214) 777-4086 
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 Any notice or communication mailed to a registered Holder shall be mailed to the Holder at the Holder’s address as it
appears on the Securities Register and shall be sufficiently given if so mailed within the time prescribed. 
 Failure to mail a
notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it,
except that notices to the Trustee shall be effective only upon receipt. 
 Section 13.03. Communication 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 Company, the Trustee, the Registrar and anyone else shall have the protection of TIA
§ 312(c). 
  

 70 

 Section 13.04. Certificate and Opinion as to Conditions Precedent. Upon any
request or application by the Company to the Trustee to take or refrain from taking any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officers’ Certificate in form and substance reasonably 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 reasonably
satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 Section 13.05. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include: 
 (a) a statement that the individual making such certificate or opinion has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based; 
 (c) a statement that, in the opinion of such individual, 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 individual, such covenant or condition has been complied with. 
 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officers’ Certificate or on certificates of public officials. 
 Section 13.06. When Securities Are Disregarded. In determining whether the Holders of the required principal amount of
Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company shall be disregarded and
deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Trust Officer of the Trustee actually knows are so owned
shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 
 Section 13.07. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or a meeting of, Holders. The Registrar and the Paying Agent may make
reasonable rules for their functions. 
  

 71 

 Section 13.08. Legal Holidays. In any case where any interest payment date,
Fundamental Change Purchase Date or Stated Maturity is not a Business Day, then any action to be taken on such date need not be taken on such date, but shall be taken on the next succeeding Business Day with the same force and effect as if taken on
such date, and no interest shall accrue in respect of the delay. 
 Section 13.09. Governing Law. THIS INDENTURE AND
THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 13.10. No Recourse Against Others. An incorporator, director, officer, employee, Affiliate or stockholder of the Company, solely by reason of this status, shall not have any liability for any obligations of the Company
under the Securities or this 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 shall waive and release all such liability. The waiver and release shall be part
of the consideration for the issue of the Securities. 
 Section 13.11. Successors. All agreements of the Company in
this Indenture and the Securities shall bind their respective successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 Section 13.12. Multiple 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.
One signed copy is enough to prove this Indenture. 
 The exchange of copies of this Indenture and of signature pages by
facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures by or behalf of the parties hereto transmitted
by facsimile or PDF shall be deemed to be their original signatures for all purposes. 
 Section 13.13. Action by
Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage in principal amount of the Securities may take action (including the making of any demand or request, the giving of any direction, notice, consent or
waiver or the taking of any other action) the fact that at the time of taking any such action the Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor
executed by Holders in person or by agent or proxy appointed in writing, (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly called and held in accordance with procedures approved by the Trustee, (c) by
a combination of such instrument or instruments and any such record of such a meeting of Holders or (d) in the case of Securities evidenced by a Global Security, by any electronic transmission or other message, whether or not in written format,
that complies with the applicable procedures of DTC. 
  

 72 

 Section 13.14. Table of Contents; Headings. The table of contents and headings
of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
 Section 13.15. Severability Clause. In case any provision in this Indenture 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 such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability. 
 Section 13.16. Calculations. Except as otherwise provided herein, the Company will be responsible for making all calculations
called for under the Indenture and the Securities. The Company will make all such calculations in good faith and, absent manifest error, its calculations will be final and binding on Holders. The Company upon request will provide a schedule of its
calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee will
deliver a copy of such schedule to any Holder upon the request of such Holder. 
 [Remainder of the page intentionally left
blank] 
  

 73 

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

			
	GROUP 1 AUTOMOTIVE, INC.
		
	By:	 	 /s/ John C. Rickel

	Name:	 	John C. Rickel
	Title:	 	Senior Vice President and Chief Financial Officer
	
	WELLS FARGO BANK, N.A., as Trustee
		
	By:	 	 /s/ Patrick Giordano

	Name:	 	Patrick Giordano
	Title:	 	Vice President

 SCHEDULE A 
 The following table sets forth the number of Additional Shares to be added to the Conversion Rate per $1,000 principal amount of Securities pursuant to Section 12.03 of this Indenture for each Stock
Price and Effective Date set forth below: 
  

																											
	 Effective Date
	 	Stock Price
	 	$31.52	 	$35.00	 	$40.00	 	$45.00	 	$50.00	 	$55.00	 	$60.00	 	$65.00	 	$70.00	 	$75.00	 	$80.00	 	$85.00	 	$90.00
	March 22, 2010	 	5.8272	 	5.2568	 	4.3204	 	3.6327	 	3.1088	 	2.6977	 	2.3672	 	2.0961	 	1.8701	 	1.6790	 	1.5154	 	1.3739	 	1.2504
	March 15, 2011	 	5.8272	 	5.2144	 	4.2516	 	3.5527	 	3.0257	 	2.6158	 	2.2888	 	2.0223	 	1.8012	 	1.6151	 	1.4563	 	1.3194	 	1.2002
	March 15, 2012	 	5.8272	 	5.1689	 	4.1713	 	3.4575	 	2.9261	 	2.5175	 	2.1947	 	1.9339	 	1.7190	 	1.5392	 	1.3865	 	1.2553	 	1.1415
	March 15, 2013	 	5.8272	 	5.1062	 	4.0662	 	3.3344	 	2.7980	 	2.3914	 	2.0742	 	1.8207	 	1.6138	 	1.4419	 	1.2970	 	1.1731	 	1.0660
	March 15, 2014	 	5.8272	 	5.0781	 	3.9684	 	3.2034	 	2.6541	 	2.2456	 	1.9325	 	1.6861	 	1.4878	 	1.3250	 	1.1890	 	1.0736	 	0.9746
	March 15, 2015	 	5.8272	 	5.0145	 	3.8220	 	3.0196	 	2.4577	 	2.0499	 	1.7445	 	1.5092	 	1.3233	 	1.1730	 	1.0492	 	0.9454	 	0.8570
	March 15, 2016	 	5.8272	 	4.9192	 	3.6208	 	2.7726	 	2.1977	 	1.7942	 	1.5016	 	1.2828	 	1.1145	 	0.9817	 	0.8743	 	0.7858	 	0.7113
	March 15, 2017	 	5.8272	 	4.7313	 	3.3098	 	2.4167	 	1.8381	 	1.4511	 	1.1836	 	0.9926	 	0.8516	 	0.7441	 	0.6597	 	0.5916	 	0.5353
	March 15, 2018	 	5.8272	 	4.4126	 	2.8353	 	1.9010	 	1.3388	 	0.9929	 	0.7737	 	0.6295	 	0.5307	 	0.4599	 	0.4067	 	0.3651	 	0.3314
	March 15, 2019	 	5.8272	 	3.7938	 	2.0101	 	1.0776	 	0.6083	 	0.3764	 	0.2611	 	0.2015	 	0.1680	 	0.1469	 	0.1320	 	0.1203	 	0.1106
	March 15, 2020	 	5.8272	 	2.6727	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000

  

 Schedule A 

 EXHIBIT A 
 [FORM OF FACE OF SECURITY] 
 [Restricted Securities Legend, if applicable]

 [Global Security Legend, if applicable] 
 No.
[    ]                                    
     Principal Amount $[        ], as revised by the Schedule of Increases and Decreases in Global Security attached hereto. 
 CUSIP NO.: 398905AF6 
 ISIN: US398905AF64 
 3.00% Convertible Senior Note due 2020 
 Group 1 Automotive, Inc., a Delaware corporation, promises to pay to [                    ], or
registered assigns, the principal sum of [                    ] Dollars, as revised by the Schedule of Increases and Decreases in Global
Security attached hereto, on March 15, 2020. 
 Interest Payment Dates: March 15 and September 15 
 Regular Record Dates: March 1 and September 1 
 Additional provisions of this Security are set forth on the attached “Terms of Securities.” 
 Dated: [                    ] 
  

			
	 GROUP 1 AUTOMOTIVE, INC.

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION
  
 WELLS FARGO BANK, N.A.
 as Trustee, certifies that this is one of the Securities referred to in the Indenture.

		
	 By:
	 	  

		 	Authorized Signatory

  

 A-1 

 TERMS OF SECURITIES 
 3.00% Convertible Senior Note due 2020 
 The Company issued
these Securities under an Indenture dated as of March 22, 2010 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), between the Company and the Trustee, to which reference is
hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders. Additional Securities may be issued under the Indenture in an unlimited aggregate
principal amount subject to certain conditions specified in the Indenture. 
 1) Interest 
 Group 1 Automotive, Inc., a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred
to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate of 3.00% per annum. 
 The Company will pay interest semiannually on March 15 and September 15 of each year commencing September 15, 2010. Interest on the Securities will accrue from the most recent date to which
interest has been paid on the Securities or, if no interest has been paid, from March 22, 2010. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 2) Method of Payment 
 By no later than 11:00 a.m. (New York City time) on
the date on which any principal of or interest on any Security is due and payable, the Company shall deposit with the Paying Agent money sufficient to pay such amount. The Company will pay principal and interest in money of the United States that at
the time of payment is legal tender for payment of public and private debts. Payments in respect of Securities represented by a Global Security (including principal and interest ) will be made by wire transfer of immediately available funds to the
accounts specified by The Depository Trust Company. The Company will pay principal of Definitive Securities at the office or agency in New York, New York designated by the Company for such purpose. Interest on Definitive Securities will be payable
(i) to Holders having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of these Securities and (ii) to Holders having an aggregate principal amount of more than $5,000,000, either by check mailed to each
Holder or, upon application by a Holder to the Paying Agent not later than the relevant record date, by wire transfer in immediately available funds to that Holder’s account within the United States, which application shall remain in effect
until the Holder notifies, in writing, the Paying Agent to the contrary. 
  

 A-2 

 3) Redemption 
 The Company may not redeem the Securities prior to the Stated Maturity. 
 4) Purchase at the
Option of the Holder Upon a Fundamental Change 
 If a Fundamental Change shall occur at any time, each Holder shall have the
right, at such Holder’s option and subject to the terms and conditions of the Indenture, to require the Company to purchase all or a portion of its Securities at a Fundamental Change Purchase Price specified in the Indenture. 
 5) Conversion 
 Subject to
the conditions and procedures set forth in the Indenture, and during the periods specified in the Indenture, a Holder may convert Securities, at any time prior to the close of business on the second Scheduled Trading Day immediately preceding Stated
Maturity, into cash and shares of Common Stock, if any, at the Conversion Rate. 
 The initial Conversion Rate is 25.8987 shares
of Common Stock per $1,000 principal amount of Securities, subject to adjustment in certain events described in the Indenture. Upon conversion, the Company will pay cash and shares of Common Stock, if any, based on a Daily Conversion Value
calculated on a proportionate basis for each day of the 25-day Observation Period, as set forth in the Indenture. The Company shall deliver cash in lieu of any fractional share of Common Stock. 
 A Holder may convert a portion of the Securities only if the principal amount of such portion is $1,000 or a multiple of $1,000. No payment
or adjustment shall be made for dividends on the Common Stock except as provided in the Indenture. 
 6) Denominations; Transfer;
Exchange 
 The Securities are in registered form without coupons in denominations of principal amount of $1,000 and
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 or transfer documents and to pay any taxes and charges
required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange of Securities surrendered for conversion or, if a portion of any Security is surrendered for conversion, the portion thereof surrendered for
conversion. 
  

 A-3 

 7) Persons Deemed Owners 
 The registered Holder of this Security may be treated as the owner of it for all purposes. 
 8) Unclaimed Money 
 If
money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company, subject to any applicable escheat law. After any such payment, Holders entitled to the money must
look only to the Company and not to the Trustee for payment. 
 9) Amendment, Waiver 
 Subject to certain exceptions, the Indenture contains provisions permitting an amendment of the Indenture or the Securities with the consent
of the Holders of at least a majority in principal amount of the then outstanding Securities and the waiver of any Event of Default (other than with respect to nonpayment or in respect of a provision that cannot be amended without the written
consent of each Holder affected) or noncompliance with any provision with the written consent of the Holders of a majority in principal amount of the then outstanding Securities. 
 In addition, the Indenture permits an amendment of the Indenture or the Security without the consent of any Holder under circumstances
specified in the Indenture. 
 10) Defaults and Remedies 
 If an Event of Default specified in the Indenture occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Securities may declare all the Securities by notice to the
Company to be due and payable immediately. In addition, certain specified Events of Default will cause the Securities to become immediately due and payable without further action by the Holders. 
 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 principal amount of the Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold
from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default in payment of principal or interest) if it determines that withholding notice is in their interest. 
  

 A-4 

 11) Trustee Dealings with the Company 
 Subject to certain limitations set forth in the Indenture, 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 Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not
Trustee. 
 12) No Recourse Against Others 
 An incorporator, director, officer, employee, Affiliate or stockholder of the Company, solely by reason of this status, shall not have any liability for any obligations of the Company 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. 
 13) Authentication 
 This Security shall not be valid until an authorized signatory of the Trustee manually authenticates this Security. 
 14) 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 entirety), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian) and U/G/M/A (=Uniform Gift to Minors Act).

 15) CUSIP Numbers 
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities. No representation is made as to the accuracy of such numbers
either as printed on the Securities or as contained in any notice to the Holders, and reliance may be placed only on the other identification numbers placed thereon. 
 16) Governing Law 
 This Security shall be governed by, and construed in
accordance with, the laws of the State of New York. 
  

 A-5 

 The Company will furnish to any Holder upon written request and without charge to the Holder
a copy of the Indenture which has in it the text of this Security. Requests may be made to: 
 Group 1 Automotive, Inc. 
 800 Gessner, Suite 500 
 Houston, Texas 77024

 Attention: General Counsel 
 Fax:
(713) 647-5869 
  

 A-6 

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to 
                                        
                                         
                                         
    
 (Print or type assignee’s name, address and zip code) 
                                        
                                         
                 
 (Insert assignee’s
soc. sec. or tax I.D. No.) 
 and irrevocably appoint
                     agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

							
	  

				
	Date:	 	  
	  	Your Signature:	  	  

							
		
	Signature Guarantee:	 	  

	(Signature must be guaranteed)
	
	  

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

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions) with membership in an approved signature guarantee
medallion program, pursuant to S.E.C. Rule 17Ad-15. 
 In connection with any transfer or exchange of any of the Securities evidenced by this
certificate occurring prior to the date that is one year after the last date of original issuance of such Securities, or such other period of time as permitted by Rule 144 (or any successor thereto) under the Securities Act of 1933, as amended (the
“Securities Act”), the undersigned confirms that such Securities are being: 
 CHECK ONE BOX BELOW: 
  

					
	 ̈	  	1	    	acquired for the undersigned’s own account, without transfer; or
			
	 ̈	  	2	    	transferred to the Company; or
			
	 ̈	  	3	    	transferred pursuant to an effective registration statement under the Securities Act; or
			
	 ̈	  	4	    	transferred pursuant to and in compliance with Rule 144A under the Securities Act; or
			
	 ̈	  	5	    	transferred pursuant to another available exemption from the registration requirements of the Securities Act.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities evidenced by
this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (5) is checked, the Trustee or the Company may require, prior to registering any such transfer of the Securities, in its
sole discretion, such legal opinions, certifications and other information as the Trustee or the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act, such as the exemption provided by Rule 144 under such Act. 
  

					
		 		  	  

		 		  	Signature:
			
	Signature Guarantee:	 		  	
			
	  
	 		  	  

	(Signature must be guaranteed)	 		  	Signature:

 The signature(s) should be guaranteed by an
eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program, pursuant to S.E.C. Rule 17Ad-15. 
 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it exercises sole investment discretion and that it and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such
information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in
order to claim the exemption from registration provided by Rule 144A. 
  

							
	Dated:	 	  
	 		  	  

		 		 		  	Signature

 [TO BE ATTACHED TO GLOBAL SECURITIES] 
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 
 The following increases or decreases in this Global Security have been made: 
  

									
	 Date
	 	 Amount of decrease
 in Principal Amount
 of this Global
 Security
	 	 Amount of increase
 in Principal Amount
 of this Global
 Security
	 	 Principal Amount of
 this Global Security
 following such
 decrease or increase
	 	 Signature of
 authorized signatory
 of Trustee or
 Securities Custodian

 FORM OF CONVERSION NOTICE 
  

	To:	    Group 1 Automotive, Inc. 

 The undersigned registered Holder of this Security hereby exercises the option to convert this Security, or portion hereof (which is $1,000 principal amount or a multiple thereof) designated below, for
cash and shares of Common Stock of Group 1 Automotive, Inc., if any, in accordance with the terms of the Indenture referred to in this Security, and directs that cash and the shares, if any, issuable and deliverable upon such conversion, and any
Securities representing any unconverted principal amount hereof, be issued and delivered to the registered Holder hereof unless a different name has been indicated below. If cash, shares or any portion of this Security not converted are to be issued
in the name of a Person other than the undersigned, the undersigned shall pay all transfer taxes payable with respect thereto. 
 This notice shall be deemed to be an irrevocable exercise of the option to convert this Security. 
  

					
	Dated:	 	  
	    	  

			
		 		    	  

		 		    	Signature(s)
		 		    	The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions) with membership in an approved
signature guarantee medallion program, pursuant to S.E.C. Rule 17Ad-15.
			
		 		    	  

		 		    	Signature Guarantee
		
	Fill in for registration of shares if to be delivered, and Securities if to be issued other than to and in the name of registered Holder:	    	
		
	  
	    	
	(Name)	 		    	 Principal amount to be converted (if less than all):
 $                    ,000

		
	  
	    	
	(Street Address)	    	
		
	  
	    	  

	(City state and zip code)	    	Social Security or Other Taxpayer Number
	Please print name and address	    	

 FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE 
  

	To:	    Group 1 Automotive, Inc. 

 The undersigned registered Holder of this Security hereby acknowledges receipt of a notice from Group 1 Automotive, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect
to the Company and requests and instructs the Company to repurchase this Security, or the portion hereof (which is $1,000 principal amount or a multiple thereof) designated below, in accordance with the terms of the Indenture referred to in this
Security and directs that the check in payment for this Security or the portion thereof and any Securities representing any unrepurchased principal amount hereof, be issued and delivered to the registered Holder hereof unless a different name has
been indicated below. If any portion of this Security not repurchased is to be issued in the name of a Person other than the undersigned, the undersigned shall pay all transfer taxes payable with respect thereto. 
  

							
	Dated:	  	  
	 		  	
				
		  		 		  	  

		  		 		  	Signature(s)
		  		 		  	The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions) with membership in an approved
signature guarantee medallion program, pursuant to S.E.C. Rule 17Ad-15.
				
		  		 		  	  

		  		 		  	Signature Guarantee
	
	Fill in if a check is to be issued other than to and in the name of the registered Holder:
			
	  
	 		  	
	(Name)	  		 		  	Principal amount to be purchased
(if less than all):
$                    ,000
			
	  
	 		  	
	(Street Address)	 		  	
			
	  
	 		  	  

	(City state and zip code)	 		  	Social Security or Other Taxpayer Number
	Please print name and addressBase Call Option Transaction - JP Morgan Chase Bank

 Exhibit 4.3 

 

 

 JPMorgan Chase Bank, National Association 
 P.O. Box 161 
 60 Victoria Embankment 
 London EC4Y 0JP 
 England 
 March 16, 2010 
 To: Group 1 Automotive, Inc. 

800 Gessner, Suite 500 
 Houston, TX 77024

 Attention: Michael Welch 
 Telephone
No.: (713) 647-5742 
 Facsimile No.:    (713) 647-5858 
 Re: Base Call Option Transaction 
 The purpose of this letter agreement (this
“Confirmation”) is to confirm the terms and conditions of the call option transaction entered into between JPMorgan Chase Bank, National Association, London Branch (“Dealer”) and Group 1 Automotive, Inc.
(“Counterparty”) on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. This Confirmation
shall replace any previous agreements and serve as the final documentation for this Transaction. 
 The definitions and
provisions contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”), are incorporated into this
Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein are based on terms that are defined in the Offering Memorandum dated
March 16, 2010 (the “Offering Memorandum”) relating to the 3.00% Convertible Senior Notes due 2020 (the “Convertible Notes” and each USD 1,000 principal amount of Convertible Notes, a “Convertible
Note”) issued by Counterparty in an aggregate initial principal amount of USD 100,000,000 pursuant to an Indenture to be dated March 22, 2010 between Counterparty and Wells Fargo Bank, N.A., as trustee (the
“Indenture”). In the event of any inconsistency between the terms defined in the Offering Memorandum, the Indenture and this Confirmation, this Confirmation shall govern. The parties acknowledge that this Confirmation is entered
into on the date hereof with the understanding that (i) definitions set forth in the Indenture which are also defined herein by reference to the Indenture and (ii) sections of the Indenture that are referred to herein will conform to the
descriptions thereof in the Offering Memorandum. If any such definitions in the Indenture or any such sections of the Indenture differ from the descriptions thereof in the Offering Memorandum, the descriptions thereof in the Offering Memorandum will
govern for purposes of this Confirmation. The parties further acknowledge that the Indenture section numbers used herein are based on the draft of the Indenture last reviewed by Dealer as of the date of this Confirmation, and if any such section
numbers are changed in the Indenture as executed, the parties will amend this Confirmation in good faith to preserve the intent of the parties. Subject to the foregoing, references to the Indenture herein are references to the Indenture as in effect
on the date of its execution, and if the Indenture is amended following such date, any such amendment will be disregarded for purposes of this Confirmation unless the parties agree otherwise in writing. 
 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No.
BR000746 
 Registered Branch Office 125 London Wall, London EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 

 

 

  

 Each party is hereby advised, and each such party acknowledges, that the other party has
engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates on the terms and conditions set forth
below. 
 1. This Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to
which this Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”) as if Dealer and Counterparty had executed an
agreement in such form (but without any Schedule except for the election of the laws of the State of New York as the governing law) on the Trade Date. In the event of any inconsistency between provisions of that Agreement and this Confirmation, this
Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates. The parties hereby agree that no transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement.

 2. The terms of the particular Transaction to which this Confirmation relates are as follows: 
 General Terms: 
  

			
		
	 Trade Date:
	  	March 16, 2010
		
	 Option Style:
	  	“Modified American”, as set forth under “Exercise and Valuation” below
		
	 Option Type:
	  	Call
		
	 Buyer:
	  	Counterparty
		
	 Seller:
	  	Dealer
		
	 Shares:
	  	The common stock of Counterparty, par value USD 0.01 per Share (Exchange symbol “GPI”)
		
	 Number of Options:
	  	100,000. For the avoidance of doubt, the Number of Options shall be reduced by any Options exercised by Counterparty. In no event will the Number of Options be less than zero.

		
	 Applicable Percentage:
	  	50%
		
	 Option Entitlement:
	  	As of any date, a number equal to the product of the Applicable Percentage and the Conversion Rate as of such date (as defined in the Indenture, but without regard to any
adjustments to the Conversion Rate pursuant to Section 12.02(h) or (i) or Section 12.03 of the Indenture), for each Convertible Note.
		
	 Strike Price:
	  	USD 38.6120
		
	 Premium:
	  	USD 19,973,500.00

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 2 

 

 

  

			
	 Premium Payment Date:
	  	March 22, 2010
		
	 Exchange:
	  	The New York Stock Exchange
		
	 Related Exchange(s):
	  	All Exchanges
		
	Exercise and Valuation:	  	
		
	 Exercise Period(s):
	  	Notwithstanding anything to the contrary in the Equity Definitions, an Exercise Period shall occur with respect to an Option hereunder only if such Option is an Exercisable
Option (as defined below) and the Exercise Period shall be, in respect of any Exercisable Option, the period commencing on, and including, the relevant Conversion Date and ending on, and including, the Scheduled Valid Day immediately preceding the
first day of the relevant Cash Settlement Averaging Period for such Exercisable Option; provided that in respect of Exercisable Options relating to Convertible Notes for which the relevant Conversion Date occurs on or after the Free
Convertibility Date, the final day of the Exercise Period shall be the Scheduled Valid Day immediately preceding the Expiration Date.
		
	 Conversion Date:
	  	With respect to any conversion of a Convertible Note and the related Exercisable Option, the date on which the Holder (as such term is defined in the Indenture) of such
Convertible Note satisfies all of the requirements for conversion thereof as set forth in Section 12.01(b) of the Indenture.
		
	 Exercisable Options:
	  	In respect of each Exercise Period (the “Relevant Exercise Period”), a number of Options equal to the lesser of:
		
		  	(i) the number of Convertible Notes with a Conversion Date occurring on the first day of such Exercise Period; and
		
		  	(ii) the Number of Options as of the first day of the Relevant Exercise Period.
		
		  	If there are any other Exercisable Options as to which a prior Exercise Period has commenced but no Exercise Date has yet occurred which would thereby reduce the Number of
Options as of the related Exercise Date (such other Exercisable Options, the “Other Exercisable Options”), then solely for the purposes of determining the number of Exercisable Options for the Relevant Exercise Period, the Number of
Options on the first day of the Relevant Exercise Period shall be reduced by such Other Exercisable Options.

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 3 

 

 

  

			
		  	Notwithstanding the foregoing, in no event shall the number of Exercisable Options exceed the Number of Options.
		
	 Free Convertibility Date:
	  	September 15, 2019
		
	 Expiration Time:
	  	The Valuation Time
		
	 Expiration Date:
	  	March 15, 2020, subject to earlier exercise.
		
	 Multiple Exercise:
	  	Applicable, as described under “Exercisable Options” above and “Automatic Exercise” below.
		
	 Automatic Exercise:
	  	Applicable; and means that notwithstanding Section 3.4 of the Equity Definitions, with respect to each Exercise Period, a number of Options equal to the number of Exercisable
Options for such Exercise Period shall be deemed to be automatically exercised on the final day of such Exercise Period; provided that such Options shall be deemed exercised only to the extent that Counterparty has provided a Notice of
Exercise to Dealer.
		
	 Notice of Exercise:
	  	Notwithstanding anything to the contrary in the Equity Definitions, in order to exercise any Exercisable Options, Counterparty must notify Dealer in writing before 5:00 p.m. (New
York City time) on the Scheduled Valid Day prior to the scheduled first day of the Cash Settlement Averaging Period for the Exercisable Options being exercised of (i) the number of such Options and (ii) the scheduled first day of the Cash Settlement
Averaging Period and the scheduled Settlement Date (such time, the “Notice Deadline”); provided that, notwithstanding the foregoing, such notice (and the related automatic exercise of such Exercisable Options)
shall be effective if given after the relevant Notice Deadline (but only in respect of any Exercisable Options relating to Convertible Notes with a Conversion Date occurring prior to the Free Convertibility Date), but prior to 5:00 p.m. New York
City time, on the fifth Scheduled Valid Day following the Notice Deadline, in which case the Calculation Agent shall have the right to adjust the Net Shares to reflect additional costs (including, but not limited to, hedging mismatches and market
losses) and reasonable expenses incurred by Dealer in connection with its hedging activities (including the unwinding of any hedge position) as a result of its not having received such notice prior to the Notice Deadline; provided

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 4 

 

 

  

			
		  	further that in respect of Exercisable Options relating to Convertible Notes with a Conversion Date occurring on or after the Free Convertibility Date, such notice may be
given on or prior to the Scheduled Valid Day immediately preceding the Expiration Date and need only specify the number of such Exercisable Options.
		
	 Valuation Time:
	  	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine
the Valuation Time in its reasonable discretion.
		
	 Market Disruption Event:
	  	Notwithstanding Section 6.3(a) of the Equity Definitions, Market Disruption Event means a failure by the primary United States national securities exchange or market on which the
Shares are listed or admitted to trading to open for trading during its regular trading session or the occurrence or existence prior to 1:00 p.m. on any Scheduled Valid Day for the Shares for more than one half hour period in the aggregate during
regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Shares or in any options, contracts or future contracts relating to the
Shares.
		
	Settlement Terms:	  	
		
	 Settlement Method:
	  	Net Share Settlement
		
	 Net Share Settlement:
	  	Dealer will deliver to Counterparty, on the Settlement Date, a number of Shares equal to the Net Shares in respect of an Option exercise. In no event will the Net Shares be less
than zero.
		
	 Net Shares:
	  	In respect of any Option exercised or deemed exercised, for each Option, a number of Shares equal to (i) the sum of the quotients, for each Valid Day during the Cash Settlement
Averaging Period for such Option, of (A) the Option Entitlement on such Valid Day multiplied by (B) the Relevant Price on such Valid Day less the Strike Price, divided by (C) such Relevant Price, divided by (iii) the
number of Valid Days in the Cash Settlement Averaging Period; provided, however, that if the calculation contained in clause (B) above results in a negative number, such number shall be replaced with the number
“zero”.
		
		  	Dealer will deliver cash in lieu of any fractional Shares to be delivered with respect to any Net Shares to be delivered hereunder valued at the Relevant Price for the last Valid
Day of the Cash Settlement Averaging Period.

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 5 

 

 

  

			
	 Valid Day:
	  	A day on which (a) trading in the Shares generally occurs on the New York Stock Exchange or, if the Shares are not then listed on the New York Stock Exchange, on the principal
other United States national or regional securities exchange on which the Shares are then listed or, if the Shares are not then listed on a United States national or regional securities exchange, on the principal other market on which the Shares are
then traded, and (b) there is no Market Disruption Event. If the Shares are not so listed or admitted for trading, “Valid Day” means a Business Day.
		
	 Scheduled Valid Day:
	  	A day that is scheduled to be a Valid Day on the primary United States national securities exchange or market on which the Shares are listed or admitted to trading. If the Shares
are not so listed or admitted for trading, “Scheduled Valid Day” means a Business Day.
		
	 Business Day:
	  	Any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be
closed.
		
	 Relevant Price:
	  	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page GPI.N <equity> AQR (or any
successor thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time of the Exchange on such Valid Day (or if such volume-weighted average price is unavailable at such time, the market value of
one Share on such Valid Day, as determined by the Calculation Agent using a volume-weighted method).
		
	 Cash Settlement Averaging Period:
	  	For any Exercisable Options relating to the conversion of Convertible Notes:
		
		  	(i) if Counterparty has, on or prior to the Free Convertibility Date, delivered a Notice of Exercise to Dealer with respect to such Exercisable Option with a related Conversion
Date occurring prior to the Free Convertibility Date, the 25 consecutive Valid Days commencing on and including the second Scheduled Valid Day following such Conversion Date; or

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 6 

 

 

  

			
		  	(ii) if Counterparty has, on or following the Free Convertibility Date, delivered a Notice of Exercise to Dealer with respect to such Exercisable Option with a related Conversion
Date occurring on or following the Free Convertibility Date, the 25 consecutive Valid Days commencing on, and including, the 27th Scheduled Valid Day immediately prior to the Expiration Date.
		
	 Settlement Date:
	  	For any Exercisable Options relating to the conversion of the Convertible Notes, the settlement date for Shares to be delivered under such Convertible Notes under the terms of
the Indenture.
		
	 Other Applicable Provisions:
	  	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11, 9.12 and 10.5 of the Equity Definitions will be applicable, except that all references in such provisions to
“Physically-Settled” shall be read as references to “Net Share Settled”. “Net Share Settled” in relation to any Option means that Net Share Settlement is applicable to that Option.
		
	 Representation and Agreement:
	  	Notwithstanding Section 9.11 of the Equity Definitions, the parties acknowledge that any Shares delivered to Counterparty shall be, upon delivery, subject to restrictions and
limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws.
		
	 Failure to Deliver:
	  	Applicable
		
	3. Additional Terms applicable to the Transaction:	  	
		
	 Adjustments applicable to the Transaction:
	  	
		
	 Potential Adjustment Events:
	  	Notwithstanding Section 11.2(e) of the Equity Definitions, a “Potential Adjustment Event” means any occurrence of any event or condition, as set forth in Section
12.02(a), (b), (c), (d) or (e) of the Indenture that would result in an adjustment to the Conversion Rate of the Convertible Notes; provided that in no event shall there be any adjustment hereunder as a result of an adjustment to the
Conversion Rate pursuant to Section 12.02(h) or (i) or Section 12.03 of the Indenture.
		
	 Method of Adjustment:
	  	Calculation Agent Adjustment, and means that, notwithstanding Section 11.2(c) of the Equity Definitions, upon any adjustment to the Conversion Rate of the Convertible Notes
pursuant to the Indenture (other than Section 12.02(h) or (i) or Section 12.03 of the Indenture), the Calculation Agent will make a corresponding adjustment to any one or more of the Strike Price, Number of Options, the Option Entitlement and any
other variable relevant to the exercise,

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 7 

 

 

  

			
		  	settlement or payment for the Transaction; provided that, notwithstanding the foregoing, if the Calculation Agent in good faith determines that any adjustment to the
Convertible Notes pursuant to the Indenture (other than Section 12.02(h) or (i) or Section 12.03 of the Indenture) involving an exercise of discretion by Counterparty or its board of directors (including, without limitation, pursuant to Section
12.02(o) of the Indenture or the determination of the fair value of any securities, property, rights or other assets) is not a commercially reasonable adjustment, then in each such case, the Calculation Agent will determine the adjustment to be made
to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction in a commercially reasonable manner.
		
	Extraordinary Events applicable to the Transaction:	  	
		
	 Merger Events:
	  	Applicable; provided that notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in
Section 12.05 of the Indenture.
		
	 Tender Offers:
	  	Applicable; provided that notwithstanding Section 12.1(d) of the Equity Definitions, a “Tender Offer” means the occurrence of any event or condition set forth in
Section 12.02(e) of the Indenture.
		
	 Consequence of Merger Events/
 Tender Offers:
	  	  
 Notwithstanding Section 12.2 and Section 12.3 of the Equity
Definitions, upon the occurrence of a Merger Event or Tender Offer, the Calculation Agent shall make a corresponding adjustment in respect of any adjustment under the Indenture to any one or more of the nature of the Shares (in the case of a Merger
Event), Strike Price, Number of Options, the Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction; provided however that such adjustment shall be made without regard to any adjustment
to the Conversion Rate for the issuance of additional shares as set forth in Section 12.03 of the Indenture; provided further that if, with respect to a Merger Event, the consideration for the Shares includes (or, at the option of a holder of
Shares, may include) shares of an entity or person not organized under the laws of the United States, any State thereof or the District of Columbia, then Cancellation and Payment (Calculation Agent Determination) shall
apply.

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 8 

 

 

  

			
	Nationalization, Insolvency or Delisting:	  	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also
constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their
respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation
system shall thereafter be deemed to be the Exchange.
		
	Additional Disruption Events:	  	
		
	 Change in Law:
	  	Applicable; provided that Section 12.9(a)(ii)(X) of the Equity Definitions is hereby amended by replacing the word “Shares” with the phrase “Relevant Hedge
Positions” and adding in the last line after “on its tax position)” the following: “; provided that such party has undertaken, and was unable after using commercially reasonable efforts, to utilize alternative Relevant
Hedge Positions in respect of which (i) it is not illegal to hold, acquire or dispose of such alternative Relevant Hedge Positions or the Shares and (ii) such party would not incur a materially increased cost in performing its obligations under such
Transaction or entering into and performing such alternative Relevant Hedge Positions (including, without limitation, any tax, duty, expense or fee, or any increase in tax liability, decrease in tax benefit or other adverse effect on its tax
position), in each case regardless of whether the circumstances set forth in clause (A) or (B) apply to such alternative Relevant Hedge Positions.” “Relevant Hedge Position” means any Hedge Position that the Hedging Party deems
necessary to hedge the equity price risk (including, without limitation, stock price and volatility risk) of entering into and performing its obligations with respect to the Transaction.
		
	 Failure to Deliver:
	  	Applicable
		
	 Hedging Disruption:
	  	Applicable; provided that Section 12.9(a)(v) of the Equity Definitions is hereby modified by inserting the following two phrases at the end of such
Section:
		
		  	“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk. And, for the
further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 9 

 

 

  

			
	 Hedging Party:
	  	For all applicable Additional Disruption Events, Dealer.
		
	 Determining Party:
	  	For all applicable Extraordinary Events, Dealer.
		
	 Agreements and Acknowledgements
 Regarding Hedging Activities:
	  	Applicable
		
	 Additional Acknowledgments:
	  	Applicable
		
	4. Calculation Agent:	  	Dealer.

 5. Account Details: 
  

	 	(a)	Account for payments to Counterparty: 

 Bank of America 
 9000 Southside Blvd 
 Jacksonville, FL 32256 
 Contact: Stacy Flye 
 904-987-7025 
 Wire ABA: 026009593 
 ACH ABA: 063100277 
 For the Account of: Group 1 Automotive 
 Acct No.: 2290423783 
 Account for delivery of Shares to Counterparty: 

Mr. Cory McQuillen 
 Broker/Dealer Services 
 Mellon Investor Services, LLC 
 85 Challenger Rd. 
 Ridgefield Park, NJ 07660 
 Group 1 Automotive, Inc. 
 CUSIP 398905109 
 Mellon Securities DTC# 0352 
  

	 	(b)	Account for payments to Dealer: 

 JPMorgan Chase Bank, National Association, New York 
 ABA: 021 000 021 
 Favour: JPMorgan Chase Bank, National Association – London 
 A/C: 0010962009 CHASUS33 
  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 10 

 

 

  

 Account for delivery of Shares from Dealer: 
 DTC 0060 
 6. Offices: 

The Office of Counterparty for the Transaction is: Inapplicable, Counterparty is not a Multibranch Party. 
 The Office of Dealer for the Transaction is: London 
 JPMorgan Chase Bank, National Association 
 London Branch 
 P.O. Box 161 
 60
Victoria Embankment 
 London EC4Y 0JP 
 England 
 7. Notices: For purposes of this Confirmation: 
  

	 	(a)	Address for notices or communications to Counterparty: 

 Group 1 Automotive, Inc. 
 800 Gessner, Suite 500 
 Houston, TX 77024 
 Attention: Michael Welch 

			
	Telephone No.:	  	(713) 647-5742
	Facsimile No.:	  	(713) 647-5858

  

	 	(b)	Address for notices or communications to Dealer: 

 JPMorgan Chase Bank, National Association 
 4 New York Plaza, Floor 18 

New York, NY 10004-2413 
 Attention: Mariusz Kwasnik 
 Title: Operations Analyst, EDG Corporate Marketing

			
	Telephone No.:	  	(212) 623-7223
	Facsimile No.:	  	(212) 623-7719

 8. Representations and Warranties of
Counterparty 
 The representations and warranties of Counterparty set forth in Section 4 of the Purchase Agreement (the “Purchase
Agreement”) dated as of the Trade Date between Counterparty and J.P. Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the Initial Purchasers party thereto (the “Initial
Purchasers”), are true and correct and are hereby deemed to be made directly to Dealer as if set forth herein. Counterparty hereby further represents and warrants to Dealer on the date hereof and on and as of the Premium Payment Date that:

  

	 	(a)	 Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations in respect of this Transaction; such
execution, delivery and performance have been duly authorized by all necessary corporate action on

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 11 

 

 

  

	 	 
Counterparty’s part; and this Confirmation has been duly and validly executed and delivered by Counterparty and constitutes its valid and binding obligation, enforceable against Counterparty
in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general
principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification and contribution
hereunder may be limited by federal or state securities laws or public policy relating thereto. 

  

	 	(b)	Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of Counterparty hereunder will conflict with or result in a
breach of the certificate of incorporation or by-laws (or any equivalent documents) of Counterparty, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or
instrument to which Counterparty or any of its subsidiaries is a party or by which Counterparty or any of its subsidiaries is bound or to which Counterparty or any of its subsidiaries is subject, (other than any conflict or breach that is not
material) or constitute a default under, or result in the creation of any lien under, any such agreement or instrument (other than any default or lien that is not material), or breach or constitute a default under any agreements and contracts of
Counterparty and its significant subsidiaries filed as exhibits to Counterparty’s Annual Report on Form 10-K for the year ended December 31, 2009, (other than any breach or default that is not material) incorporated by reference in the
Offering Memorandum. 

  

	 	(c)	No consent, approval, authorization, or order of, or filing with, any governmental agency or body or any court is required in connection with the execution, delivery or
performance by Counterparty of this Confirmation, except such as have been obtained or made and such as may be required under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws.

  

	 	(d)	It is an “eligible contract participant” (as such term is defined in Section 1a(12) of the Commodity Exchange Act, as amended (the
“CEA”) because one or more of the following is true: 

 Counterparty is a corporation,
partnership, proprietorship, organization, trust or other entity and: 
  

	 	(A)	Counterparty has total assets in excess of USD10,000,000; 

  

	 	(B)	the obligations of Counterparty hereunder are guaranteed, or otherwise supported by a letter of credit or keepwell, support or other agreement, by an entity of the type
described in Section 1a(12)(A)(i) through (iv), 1a(12)(A)(v)(I), 1a(12)(A)(vii) or 1a(12)(C) of the CEA; or 

  

	 	(C)	Counterparty has a net worth in excess of USD1,000,000 and has entered into this Agreement in connection with the conduct of Counterparty’s business or to manage
the risk associated with an asset or liability owned or incurred or reasonably likely to be owned or incurred by Counterparty in the conduct of Counterparty’s business. 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 12 

 

 

  

	 	(e)	Each of it and its affiliates is not, on the date hereof, in possession of any material non-public information with respect to Counterparty or the Shares.

 9. Other Provisions: 
  

	 	(a)	Opinions. Counterparty shall deliver to Dealer an opinion of counsel in form and substance reasonably acceptable to Dealer, dated as of the Trade Date,
with respect to the matters set forth in Sections 8(a) through (c) of this Confirmation. Delivery of such opinion to Dealer shall be a condition precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each
obligation of Dealer under Section 2(a)(i) of the Agreement. 

  

	 	(b)	No Reliance, etc. Each party represents that (i) it is entering into the Transaction evidenced hereby as principal (and not as agent or in any other
capacity); (ii) neither the other party nor any of its agents are acting as a fiduciary for it; (iii) it is not relying upon any representations except those expressly set forth in the Agreement or this Confirmation; (iv) it has not
relied on the other party for any legal, regulatory, tax, business, investment, financial, and accounting advice, and it has made its own investment, hedging, and trading decisions based upon its own judgment and not upon any view expressed by the
other party or any of its agents; and (v) it is entering into this Transaction with a full understanding of the terms, conditions and risks thereof and it is capable of and willing to assume those risks. 

  

	 	(c)	 Repurchase Notices. Counterparty shall, on any day on which Counterparty effects any repurchase of Shares, promptly give Dealer a written
notice of such repurchase (a “Repurchase Notice”) on such day if following such repurchase, the number of outstanding Shares as determined on such day is (i) less than 23.8 million (in the case of the first such notice) or
(ii) thereafter more than 628,000 less than the number of Shares included in the immediately preceding Repurchase Notice. Counterparty agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors,
employees, affiliates, advisors, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses (including losses relating to Dealer’s hedging activities as a consequence of becoming, or of
the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection therewith with respect to this Transaction), claims,
damages, judgments, liabilities and expenses (including reasonable attorney’s fees), joint or several, which an Indemnified Person may become subject to, as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice on
the day and in the manner specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable legal or other expenses incurred in connection with investigating, preparing for,
providing testimony or other evidence in connection with or defending any of the foregoing. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against the
Indemnified Person as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice in accordance with this paragraph, such Indemnified Person shall promptly notify Counterparty in writing, and Counterparty, upon request of the
Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Counterparty may designate in such proceeding and shall pay the fees and expenses of such counsel related
to such proceeding. Counterparty shall not be liable for any settlement of any proceeding that is

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 13 

 

 

  

	 	 
effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty agrees to indemnify any Indemnified Person from and against
any loss or liability by reason of such settlement or judgment. Counterparty shall not, without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject
matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. If the indemnification provided for in this paragraph is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or
liabilities referred to therein, then Counterparty under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims,
damages or liabilities. The remedies provided for in this paragraph are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and contribution
agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination of this Transaction. 

  

	 	(d)	Regulation M. Counterparty is not on the Trade Date engaged in a distribution, as such term is used in Regulation M under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), of any securities of Counterparty, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation M. Counterparty shall not, until
the second Scheduled Trading Day immediately following the Trade Date, engage in any such distribution, except as permitted pursuant to the preceding sentence. 

  

	 	(e)	No Manipulation. Counterparty is not entering into this Transaction to create actual or apparent trading activity in the Shares (or any security
convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the Shares). 

  

	 	(f)	Board Authorization. Each of this Transaction and the issuance of the Convertible Notes was approved by its board of directors and publicly announced,
solely for the purposes stated in such board resolution and public disclosure and, prior to any exercise of Options hereunder, Counterparty’s board of directors will have duly authorized entry into this Transaction and any exercise of Options
contemplated hereunder. Counterparty further represents that there is no internal policy, whether written or oral, of Counterparty that would prohibit Counterparty from entering into any aspect of this Transaction, including, but not limited to, the
exercise of any Options hereunder. 

  

	 	(g)	Transfer or Assignment. 

  

	 	(i)	Counterparty shall have the right to transfer or assign its rights and obligations hereunder with respect to all, but not less than all, of the Options hereunder (such
Options, the “Transfer Options”); provided that such transfer or assignment shall be subject to reasonable conditions that Dealer may impose, including but not limited, to the following conditions: 

 

	 	(A)	With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 9(c) or any
obligations under Section 9(p), 9(k)(iii) or 9(k)(iv) of this Confirmation; 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 14 

 

 

  

	 	(B)	Any Transfer Options shall only be transferred or assigned to a third party that is a United States person (as defined in the Internal Revenue Code of 1986, as
amended); 

  

	 	(C)	Such transfer or assignment shall be effected on terms, including any reasonable undertakings by such third party (including, but not limited to, an undertaking with
respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery of legal
opinions with respect to securities laws and other matters by such third party and Counterparty, as are reasonably requested and reasonably satisfactory to Dealer; 

  

	 	(D)	Dealer will not, as a result of such transfer and assignment, be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the
Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; 

  

	 	(E)	An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment; 

  

	 	(F)	Without limiting the generality of clause (B), Counterparty shall cause the transferee to make such Payee Tax Representations and to provide such tax documentation as
may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer and assignment; and 

  

	 	(G)	Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred by Dealer in connection with such transfer or
assignment. 

  

	 	(ii)	 Dealer may, without Counterparty’s consent, transfer or assign all or any part of its rights or obligations under the Transaction to any third
party with a rating for its long term, unsecured and unsubordinated indebtedness equal to or better than the lesser of (x) the credit rating of Dealer at the time of the transfer and (y) A- by Standard and Poor’s Rating Group, Inc. or
its successor (“S&P”), or A3 by Moody’s Investor Service, Inc. (“Moody’s”) or, if either S&P or Moody’s ceases to rate such debt, at least an equivalent rating or better by a substitute rating
agency mutually agreed by Counterparty and Dealer. If at any time at which (A) the Section 16 Percentage exceeds 8.0%, (B) the Option Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the Applicable Share Limit (if
any applies) (any such condition described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable after using its commercially reasonable efforts to effect a transfer or assignment of Options to a third
party meeting the requirements set forth in the preceding sentence on pricing terms reasonably acceptable to Dealer and within a time period

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 15 

 

 

  

	 	 
reasonably acceptable to Dealer such that no Excess Ownership Position exists, then Dealer may designate any Exchange Business Day as an Early Termination Date with respect to a portion of the
Transaction (the “Terminated Portion”), such that following such partial termination the Section 16 Percentage is no less than 7.0%, the Option Equity Percentage is no less than 13.5%, and the Share Amount is no less than the
Applicable Share Limit minus 2%, as the case may be. In the event that Dealer so designates an Early Termination Date with respect to a Terminated Portion, a payment shall be made pursuant to Section 6 of the Agreement as if (1) an
Early Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Options equal to the number of Options underlying the Terminated Portion, (2) Counterparty were the sole Affected
Party with respect to such partial termination and (3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the provisions of Section 9(m) shall apply to any amount that is payable by Dealer to
Counterparty pursuant to this sentence as if Counterparty was not the Affected Party). The “Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares
that Dealer and each person subject to aggregation of Shares with Dealer under Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder directly or indirectly beneficially own (as defined under Section 13 or
Section 16 of the Exchange Act and rules promulgated thereunder) and (B) the denominator of which is the number of Shares outstanding. The “Option Equity Percentage” as of any day is the fraction, expressed as a
percentage, (A) the numerator of which is the sum of (1) the product of the Number of Options and the Option Entitlement and (2) the aggregate number of Shares underlying any other call option transaction sold by Dealer to
Counterparty, and (B) the denominator of which is the number of Shares outstanding. The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership position would be aggregated with that of
Dealer (Dealer or any such person, a “Dealer Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Counterparty that are, in each case, applicable to ownership of Shares
(“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in its
reasonable discretion. The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that could give rise to reporting or registration obligations or other requirements (including obtaining
prior approval from any person or entity) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction, as determined by Dealer in its reasonable discretion, minus (B) 1% of the number of
Shares outstanding. 

  

	 	(iii)	Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other
securities, or make or receive any payment in cash, to or from Counterparty, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or to make or receive such payment in cash, and otherwise
to perform Dealer’s obligations in respect of this Transaction and any such designee may assume such obligations; provided that Dealer shall be discharged of its obligations to Counterparty only to the extent of any such performance.

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 16 

 

 

  

	 	(h)	Staggered Settlement. If upon advice of counsel with respect to applicable legal and regulatory requirements, including any requirements relating to
Dealer’s hedging activities hereunder, Dealer reasonably determines that it would not be practicable or advisable to deliver, or to acquire Shares to deliver, any or all of the Shares to be delivered on a Settlement Date for the Transaction,
Dealer may, by notice to Counterparty on or prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on two or more dates (each, a “Staggered Settlement Date”) as follows:

  

	 	(i)	 in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (the first of which will be such Nominal Settlement Date and
the last of which will be no later than the twentieth (20th) Exchange Business Day following such Nominal Settlement Date) and the number of Shares that it will deliver on each Staggered Settlement Date. For the avoidance of doubt, Dealer may make multiple deliveries of Shares on each such
Staggered Settlement Date; and 

  

	 	(ii)	the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered Settlement Dates will equal the number of Shares that Dealer
would otherwise be required to deliver on such Nominal Settlement Date. 

  

	 	(i)	Early Unwind. 

  

	 	(i)	 In the event the sale of Convertible Notes is not consummated with the Initial Purchaser for any reason or Counterparty fails to deliver to Dealer
opinions of counsel to Counterparty as required pursuant to Section 9(a) by the close of business in New York on March 29, 2010 (or such later date as agreed upon by the parties) (March 29, 2010 or such later date as agreed upon being the
“Early Unwind Date”), this Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date and, if Dealer has then received from Counterparty the Premium, Dealer shall refund such Premium to
Counterparty, whereupon (i) the Transaction and all of the respective rights and obligations of Dealer and Counterparty under the Transaction shall be cancelled and terminated and (ii) each party shall be released and discharged by the
other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of the other party arising out of and to be performed in connection with the Transaction either prior to or after the Early
Unwind Date; provided that, except to the extent the Early Unwind Date occurred as a result of the breach of the Purchase Agreement by the Initial Purchasers, if the sale of the Convertible Notes is not consummated with the Initial Purchasers
by the close of business in New York on the Early Unwind Date as a result of a failure by Counterparty to satisfy any condition to closing contained in Section 6 of the Purchase Agreement, Counterparty shall reimburse Dealer for any costs or
expenses (including market losses) relating to the unwinding of its hedging activities in connection with the Transaction (including any loss or cost incurred as a result of terminating, liquidating, obtaining or reestablishing any hedge or related
trading position of Dealer or one or more of its affiliates in connection with the Transaction). The amount of any such reimbursement shall be

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 17 

 

 

  

	 	 
determined by Dealer in its good faith and commercially reasonable discretion. Dealer shall notify Counterparty of such amount and, subject to paragraph (i)(ii) below, Counterparty shall pay such
amount in immediately available funds on the Currency Business Day immediately following the Early Unwind Date. Each of Dealer and Counterparty represent and acknowledge to the other that, subject to the proviso included in this Section, upon an
Early Unwind, all obligations with respect to the Transaction shall be deemed fully and finally discharged. 

  

	 	(ii)	If an amount is payable by Counterparty to Dealer pursuant to paragraph (i)(i) (a “Reimbursement Obligation”), Counterparty shall have the right, in
its sole discretion, to satisfy any such Reimbursement Obligation by delivering to Dealer, on the third Exchange Business Day immediately following the Early Unwind Date, the Early Unwind Shares (as defined below) in satisfaction of such
Reimbursement Obligation in the manner reasonably requested by Dealer free of payment. The “Early Unwind Shares” shall be a number of Shares equal to the Reimbursement Obligation otherwise payable under paragraph (i)(i) divided
by the value to Dealer per Share on the date such Shares are to be delivered as Early Unwind Shares (the “Early Unwind Share Price”), as determined by the Calculation Agent in its discretion using commercially reasonable means,
together with cash in lieu of any fractional Shares based on the Early Unwind Share Price. The Calculation Agent shall notify Counterparty of the Early Unwind Share Price at the time of notification of the Reimbursement Obligation. If such Early
Unwind Shares are Restricted Shares (as defined in paragraph (p) below), the Early Unwind Share Price may reflect, in the Calculation Agent’s judgment, a discount applicable to such Early Unwind Shares. Counterparty shall give irrevocable
telephonic notice, confirmed in writing within one Scheduled Trading Day, to Dealer of its election to satisfy any Reimbursement Obligation by delivery of Early Unwind Shares pursuant to this Section no later than 6:00 p.m. New York local time
on the Early Unwind Date. 

  

	 	(j)	Role of Agent. Each party agrees and acknowledges that (i) J.P. Morgan Securities Inc., an affiliate of JPMorgan (“JPMSI”), has
acted solely as agent and not as principal with respect to this Transaction and (ii) JPMSI has no obligation or liability, by way of guaranty, endorsement or otherwise, in any manner in respect of this Transaction (including, if applicable, in
respect of the settlement thereof). Each party agrees it will look solely to the other party (or any guarantor in respect thereof) for performance of such other party’s obligations under this Transaction. 

  

	 	(k)	Additional Provisions. 

  

	 	(i)	Section 12.9(b)(i) of the Equity Definitions is hereby amended by (1) replacing “either party may elect” with “Dealer may elect” and
(2) replacing “notice to the other party” with “notice to Counterparty” in the first sentence of such section. 

  

	 	(ii)	Section 12.7(b)(ii) of the Equity Definitions is hereby amended by replacing “the amount” with “the Cancellation Amount”.

  

	 	(iii)	 Counterparty covenants and agrees that, as promptly as is practicable and consistent with applicable legal requirements to the relevant transaction
following the public announcement of any consolidation, merger and binding

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 18 

 

 

  

	 	 
share exchange to which Counterparty is a party, or any sale of all or substantially all of Counterparty’s assets, in each case pursuant to which the Shares will be converted into cash,
securities or other property, Counterparty shall notify Dealer in writing of the types and amounts of consideration that holders of Shares have elected to receive upon consummation of such transaction or event (the date of such notification, the
“Consideration Notification Date”); provided that in no event shall the Consideration Notification Date be later than the date on which such transaction or event is consummated. 

  

	 	(iv)	Counterparty covenants and agrees that, promptly following any adjustment to the Convertible Notes in connection with any Potential Adjustment Event, Merger Event or
Tender Offer, Counterparty shall notify Dealer in writing of the details of such adjustment. 

  

	 	(l)	Additional Termination Events. 

  

	 	(i)	Notwithstanding anything to the contrary in this Confirmation, if an event of default with respect to Counterparty occurs under the terms of the Convertible Notes as
set forth in Section 6.01 of the Indenture and such event of default results in the acceleration of Counterparty’s payment obligations under the Convertible Notes pursuant to the Indenture, then (A) such event of default shall
constitute an Additional Termination Event applicable to the Transaction, (B) Counterparty shall be deemed to be the sole Affected Party, (C) the Transaction shall be the sole Affected Transaction and (D) Dealer shall be the party
entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement, and upon receipt by Dealer from Counterparty of any notice in writing of such acceleration, Dealer shall designate in good faith a Scheduled Trading Day
that is within a commercially reasonable period of time following receipt of such notice (which Scheduled Trading Day shall in no event be earlier than the related payment date for such Convertible Notes) following such Additional Termination Event.

  

	 	(ii)	 Notwithstanding anything to the contrary in this Confirmation, the receipt by Dealer from Counterparty, within the applicable time period set forth
under “Notice of Exercise” above, of any Notice of Exercise in respect of Options that relate to Convertible Notes as to which additional Shares would be added to the Conversion Rate in connection with a “Make-Whole Fundamental
Change” (as defined in the Indenture) shall constitute an Additional Termination Event as provided in this paragraph (l)(ii). Upon receipt of any such Notice of Exercise, Dealer shall designate in good faith a Scheduled Trading Day that is
within a commercially reasonable period of time (which in no event shall be earlier than the related settlement date for such Convertible Notes) following such Additional Termination Event as an Early Termination Date with respect to the portion of
the Transaction corresponding to a number of Options (the “Make-Whole Conversion Options”) equal to the lesser of (A) the number of such Options specified in such Notice of Exercise and (B) the Number of Options as of the
date Dealer designates such Early Termination Date and, as of such date, the Number of Options shall be reduced by the number of Make-Whole Conversion Options. Any payment hereunder with respect to such termination (the “Make-Whole Unwind
Payment”) shall be calculated pursuant to Section 6

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 19 

 

 

  

	 	 
of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Options equal to the number of
Make-Whole Conversion Options, (2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole Affected Transaction (and, for the avoidance of
doubt, in determining the amount payable pursuant to Section 6 of the Agreement, the Calculation Agent shall not take into account any adjustments to the Option Entitlement that result from corresponding adjustments to the Conversion Rate
pursuant to Section 12.03 of the Indenture); provided that in no event shall the amount of cash deliverable in respect of such early termination by Dealer to Counterparty be greater than the product of (x) the Applicable Percentage
and (y) the excess of (I) (1) the number of Make-Whole Conversion Options multiplied by (2) the Conversion Rate (after taking into account any applicable adjustments to the Conversion Rate pursuant to Section 12.03 of
the Indenture) multiplied by (3) a price per Share determined by the Calculation Agent in good faith and in a commercially reasonable manner over (II) the aggregate principal amount of the corresponding Convertible Notes, as determined
by the Calculation Agent in good faith and in a commercially reasonable manner. Counterparty may irrevocably elect, if so designated in its Notice of Exercise to Dealer as set forth above, to receive the Make-Whole Unwind Payment in Shares, in which
case, in lieu of making such Make-Whole Unwind Payment as set forth above, Dealer shall deliver to Counterparty, within a commercially reasonable period of time after such designation as determined by Dealer (taking into account existing liquidity
conditions and Dealer’s hedging and hedge unwind activity or settlement activity in connection with such delivery) a number of Shares equal to such Make-Whole Unwind Payment divided by a price per Share determined by the Calculation Agent in
good faith and in a commercially reasonable manner. 

  

	 	(iii)	Counterparty shall promptly notify Dealer in writing of any repurchase and cancellation of Convertible Notes pursuant to Article 11 of the Indenture in connection with
a “Fundamental Change” (as defined in the Indenture) and the number of Convertible Notes so repurchased and cancelled (any such notice, a “Repurchase Notice”). Notwithstanding anything to the contrary in this Confirmation,
the receipt by Dealer from Counterparty of any Repurchase Notice shall constitute an Additional Termination Event as provided in this paragraph (l)(iii). Upon receipt of any such Repurchase Notice, Dealer shall designate in good faith a Scheduled
Trading Day that is within a commercially reasonable period of time (which in no event shall be earlier than the related settlement date for such repurchase of Convertible Notes) following such Additional Termination Event as an Early Termination
Date with respect to the portion of the Transaction corresponding to a number of Options (the “Repurchase Options”) equal to the lesser of (A) the number of Convertible Notes specified in such Repurchase Notice and (B) the
Number of Options as of the date Dealer designates such Early Termination Date and, as of such date, the Number of Options shall be reduced by the number of Repurchase Options. Any payment hereunder with respect to such termination shall be
calculated pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Options equal to the number of Repurchase
Options, (2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole Affected Transaction. 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 20 

 

 

  

	 	(m)	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events. If in respect of this Transaction, an amount is payable by
Dealer to Counterparty (i) pursuant to Section 12.7 or Section 12.9 of the Equity Definitions or (ii) pursuant to Section 6(d)(ii) of the Agreement (a “Payment Obligation”), Counterparty may request Dealer
to satisfy any such Payment Obligation by the Share Termination Alternative (as defined below) (except that Counterparty shall not make such an election in the event of a Nationalization, Insolvency, Merger Event or Tender Offer, in each case, in
which the consideration to be paid to holders of Shares consists solely of cash, or an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party, other than an Event of Default
of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement in each case that resulted from an event or events outside
Counterparty’s control) and shall give irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. New York local time on the Merger Date, the Tender Offer Date, the Announcement Date
(in the case of Nationalization, Insolvency or Delisting), the Early Termination Date or date of cancellation, as applicable; provided that if Counterparty does not validly request Dealer to satisfy its Payment Obligation by the Share
Termination Alternative, Dealer shall have the right, in its sole discretion, to satisfy its Payment Obligation by the Share Termination Alternative, notwithstanding Counterparty’s failure to request Dealer to satisfy its Payment Obligation by
cash. 

  

			
	 Share Termination Alternative:
	  	Applicable and means that Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when
the Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable (the “Share Termination Payment Date”), in satisfaction of the
Payment Obligation in the manner reasonably requested by Counterparty free of payment.
		
	 Share Termination Delivery Property:
	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation
Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination
Unit Price.

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 21 

 

 

  

			
	 Share Termination Unit Price:
	  	The value to Dealer of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and
notified by the Calculation Agent to Dealer and Counterparty at the time of notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may
consider the purchase price paid in connection with the purchase of Share Termination Delivery Property.
		
	 Share Termination Delivery Unit:
	  	One Share or, if a Merger Event has occurred and a corresponding adjustment to this Transaction has been made, a unit consisting of the number or amount of each type of property
received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Merger Event, as determined by the Calculation Agent.
		
	 Failure to Deliver:
	  	Applicable
		
	 Other applicable provisions:
	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.11, 9.12 and 10.5 (as modified above) of the Equity Definitions will be applicable, except
that all references in such provisions to “Physically-Settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery
Units”. “Share Termination Settled” in relation to this Transaction means that Share Termination Alternative is applicable to this Transaction.

  

	 	(n)	Governing Law. New York law (without reference to choice of law doctrine). 

  

	 	(o)	Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any
suit, action or proceeding relating to this Transaction. Each party (i) certifies that no representative, agent or attorney of either party has represented, expressly or otherwise, that such other party would not, in the event of such a suit,
action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into this Transaction, as applicable, by, among other things, the mutual waivers and certifications provided
herein. 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 22 

 

 

  

	 	(p)	Registration. Counterparty hereby agrees that if, in the good faith reasonable judgment of Dealer, (A) the Shares acquired by Dealer for the purpose
of hedging its obligations pursuant to this Transaction (the “Hedge Shares”) or (B) any Early Unwind Shares delivered to Dealer pursuant to paragraph (i) above (any such Hedge Shares or Early Unwind Shares,
“Restricted Shares”) cannot be sold in the public market by Dealer without registration under the Securities Act, Counterparty shall, at its election, either (i) in order to allow Dealer to sell the Restricted Shares in a
registered offering, make available to Dealer an effective registration statement under the Securities Act and enter into an agreement, in form and substance satisfactory to Dealer, substantially in the form of an underwriting agreement for a
registered secondary offering; provided however, that if Dealer, in its sole reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation
for the registered offering referred to above, then clause (ii) or clause (iii) of this paragraph shall apply at the election of Counterparty, (ii) in order to allow Dealer to sell the Restricted Shares in a private placement, enter
into a private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity securities, in form and substance satisfactory to Dealer (in which case, the Calculation Agent shall make
any adjustments to the terms of this Transaction which are necessary, in its reasonable judgment, to compensate Dealer for any discount from the public market price of the Shares incurred on the sale of Restricted Shares in a private placement), or
(iii) purchase the Restricted Shares from Dealer at the Relevant Price on such Exchange Business Days, and in the amounts, requested by Dealer. 

  

	 	(q)	Tax Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees,
representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided
to Counterparty relating to such tax treatment and tax structure. 

  

	 	(r)	Right to Extend. Dealer may postpone or add, in whole or in part, any Valid Day or Valid Days during the Cash Settlement Averaging Period or any other
date of valuation, payment or delivery by Dealer, with respect to some or all of the Options hereunder (but in no event by more than ten Valid Days in the case of any such postponement or addition that is effected by Dealer in light of existing
liquidity conditions), if Dealer reasonably determines, in its discretion, that such action is reasonably necessary or appropriate to preserve Dealer’s hedging or hedge unwind activity hereunder in light of existing liquidity conditions or to
enable Dealer to effect purchases of Shares in connection with its hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty or an affiliated purchaser of Counterparty, be in compliance with
applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer. 

  

	 	(s)	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is not intended to convey to Dealer rights against Counterparty with
respect to the Transaction that are senior to the claims of common stockholders of Counterparty in any U.S. bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall be deemed to limit Dealer’s right to
pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to the Transaction; provided, further, that nothing herein shall limit or shall be deemed to limit Dealer’s rights in respect
of any transactions other than the Transaction. 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 23 

 

 

  

	 	(t)	Securities Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap
agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6),
362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other
party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement
payment” and a “transfer” as defined in the Bankruptcy Code. 

  

	 	(u)	No Collateral or Setoff. Notwithstanding any provision of the Agreement or any other agreement between the parties to the contrary, the obligations of
Counterparty hereunder are not secured by any collateral. Obligations under the Transaction shall not be set off against any other obligations of the parties, whether arising under the Agreement, this Confirmation, under any other agreement between
the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be set off against obligations under the Transaction, whether arising under the Agreement, this Confirmation, under any other agreement between the
parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff. 

  

	 	(v)	Payment by Counterparty. In the event that (i) an Early Termination Date occurs or is designated with respect to the Transaction as a result of a
Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Counterparty owes to Dealer an amount calculated under Section 6(e) of the Agreement,
or (ii) Counterparty owes to Dealer, pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.

  

	 	(w)	Determinations of Close-out or Cancellation Amounts. Notwithstanding anything to the contrary in this Confirmation or the Agreement, any Close-out Amount
pursuant to Section 6(e), any amount payable pursuant to Section 12.7 of the Equity Definitions and any Cancellation Amount shall, in each case, be determined as if the unexercised and outstanding Options being terminated pursuant to such
provisions were Exercisable Options and without regard to any requirement to deliver a Notice of Exercise; provided that in no event shall the number of Options in such determination exceed the number of Convertible Notes then outstanding.
Following any determination of any such amount by a party hereunder, if requested in writing by the other party, the party making such determination shall provide such other party a written explanation of such determination including, where
applicable, a description of the methodology and the basis for such determination in reasonable detail, it being understood that the party making such determination shall not be obligated to disclose any proprietary models used by it for such
determination. 

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority 
 24 

 

 

  

 Please confirm that the foregoing correctly sets forth the terms of our agreement by
executing this Confirmation and returning it to EDG Confirmation Group, J.P. Morgan Securities Inc., 277 Park Avenue, 11th Floor, New York, NY 10172-3401, or by fax on 212 622 8519. 
  

			
	Very truly yours,
	
	J.P. Morgan Securities Inc., as agent for JPMorgan Chase Bank, National Association
		
	By:	 	 /s/ Michael O’Donovan

	Authorized Signatory
	Name: Michael O’Donovan

  

			
	Accepted and confirmed
	 as of the Trade Date:

	
	GROUP 1 AUTOMOTIVE, INC.
		
	 By:
	 	 /s/ John C. Rickel

	Authorized Signatory
	 Name: John C. Rickel

  

 JPMorgan Chase Bank, National Association 
 Organised under the laws of the United States as a National Banking Association 
 Main Office 1111 Polaris Parkway, Columbus, Ohio 43271 
 Registered as a branch in England & Wales branch No. BR000746 
 Registered Branch Office 125 London Wall, London
EC2Y 5AJ 
 Authorised and regulated by the Financial Services Authority

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