Document:

English translation of Fourth Supplemental Agreement dated April 30, 2010

 Contract No. 

 
  
  

 Exhibit 4.24 
 [English translation] 
 ALPROSTADIL INJECTION 

(PROSTAGLANDIN E1) 
 EXCLUSIVE DISTRIBUTION AGREEMENT 
  

					
	Party A	  	:	  	Jilin Yuhua Pharmaceutical Co., Ltd. (hereinafter referred to as “Party A”)
			
	Address	  	:	  	No. 2069, Fuzhi Road, Jingyuetan Tourist Economic Development Zone, Changchun City
			
	Legal Representative	  	:	  	Dong Hongbo
			
	Party A	  	:	  	Liaoning Nuokang Medicines Co., Ltd. (hereinafter referred to as “Party B”)
			
	Address	  	:	  	No. 219, Qingnian Street, Shenhe District, Shenyang City
			
	Legal Representative	  	:	  	Xue Baizhong

 I. Designation

 1. In accordance with this Agreement, Party A hereby authorizes Party B as a sole agency for its product, namely alprostadil injection
(prostaglandin E1)(hereinafter referred to as the “Agency Product”), in the territory of the People’s Republic of China (including the regions of Hong Kong, Macau, and Taiwan) (hereinafter referred to as the “Agency
Sales District”) to be responsible for the purchase, marketing and sale of the product listed herein on the conditions and terms of this Agreement. 
 2. Within the term hereof, Party A shall not separately appoint any other agents or distributors in any manner or for any reasons to the Agency Sales District of Party B mentioned above, nor shall it sell
the Agency Products set forth herein by itself in any manner or for any reasons. 
 II. Price of Agency Product and its Settlement Method

 1. The price applicable to the sale of the Agency Product from Party A to Party B shall be as follows (See “Table 1”):

  

																					
	 Table 1: Catalogue of the Agency Product and its Supply Price
	 	  	 Unit: Renminbi/piece
	 
	 Common Name
	  	 Production

Unit
	  	Specifications
for Packing	 	  	Unit	 	  	Retail Price	 	  	 Supply price
	  	Remark	 
							
	 Alprostadil

injection
	  	Party A	  				  				  				  	 13
 (including
 tax)
	  			

  
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 Note: In the event of any price adjustment of the Agency Products due to national policies or any
change in the cost of the Agency Products manufactured by Party A, the supply price shall be separately confirmed by Party A and Party B through consultation. 
 2. Following the consultation of both parties, the deadline and method of settlement for the Agency Products shall be set as follows: Party B shall, upon receipt of the prepayment for products, take
delivery of products from the warehouse designated by Party A with the presentation of the delivery notice issued by Party A. The specific details shall be determined by the Purchase Agreement entered into by both parties in each year. 

III. Rights, Liabilities and Obligations of Party A 
 1. Within the term hereof, Party A shall provide Party B with all lawful documents and complete all formalities in relation to the distribution of the Agency Products. 

2. Within the term hereof, Party A shall organize Party B to complete such matters as tendering, bidding and linking to websites in the Agency Sales
District, and shall provide tender documents and information in a timely and accurate manner. 
 3. Within the term hereof, Party A shall have
the right to receive an agency fee of RMB 16 million from Party B so as to authorize Party B as a sole agency in the Agency Sales District for a term of ten years. As such, Party A shall have no right to sub-transfer to any third party all or
part of its rights or obligations under this Agreement unless with the written consent of Party B. 
 4. Within the term hereof, Party A shall
provide Party B with qualified Agency Products hereunder in accordance with the provisions of this Agreement. If Party B discovers any damages to or losses of the Agency Products when taking delivery of the products, it shall, subject to
confirmation by the parties, accept the actual number of products that have not been damaged or lost by giving its signature. 
 5. Within the
term hereof, any pollution and shortage of or damage to the Agency Products resulting from a lack of strict management on storage and transportation of product in the course of sale, and any overstocking of the Agency Products due to mismanagement
shall be borne by Party B after such Agency Products distributed by Party B are inspected, accepted and then sent to warehouses. Party A shall be liable for all damages in connection with the quality of the Agency Products in the course of sale, as
well as any other losses suffered by Party B arising therefrom (including but not limited to direct and indirect economic losses). Party A shall offer replacement of products and bear any cost in relation thereto. In the event of any change in price
of the Agency Products due to force majeure, the parties shall make adjustments to the supply price of the Agency Products through consultation, save for any delay in delivery of products or any other breaches of Party A occurred prior to force
majeure. 
 6. Within the term hereof, Party A shall offer cooperation to Party B for all sale activities undertaken by the distributors
designated by Party B in the Agency Sales District. 
 7. Within the term hereof, Party A shall not transfer the ownership of the Agency
Products of their kind hereunder unless with the written consent of Party B. 

  
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 8. Within the term hereof, Party B or its designated third party shall be entitled to use (without
consideration) the intellectual property rights of Party A, including without limitation, trademarks (trade names, logos), patents, copyrights, and trade secrets, for its sale of the Agency Products in the Agency Sales District. 

IV. Rights, Liabilities and Obligations of Party B 
 1. Given that both parties entered into an Alprostadil Injection (Prostaglandin E1) Exclusive Regional Distribution Agreement on December 28, 2008, Party B has already paid to Party A the amount of
RMB 16 million as an agency fee pursuant to the Agreement mentioned above. As such, both parties agree that since the effective date of this Agreement, the aforesaid RMB 16 million will be automatically changed as the agency fee that shall
be paid to Party A by Party B for its being appointed as a sole agency of the Agency Product in the Agency Sales District for a term of 10 years under this Agreement. 
 2. Within the term hereof, Party B shall submit to Party A a plan of products request pursuant to the sales and purchase agreement of each year, and Party A shall provide Party B with qualified Agency
Products pursuant to the sales and purchase agreement of each year. 
 3. Within the term hereof, Party B shall be strictly prohibited from
selling counterfeit and fake Agency Products, and shall take an initiative itself to protect the brand name and image of Party A. 
 4.
Following the proper performance and expiry of this Agreement, Party B shall have the priority right to renew an exclusive regional distribution agreement with Party A for the sale of the Agency Product specified herein on the same conditions
offered by others. 
 5. Party B shall provide Party A with the relevant valid documents (business license, drug operating permit, GSP
certificate, organization code certificate, tax registration certificate, general taxpayers registration certificate, copies of the identity card of salespersons and letters of appointment of sub-agency companies). 

6. Party B shall make its own investment for market development, and shall design and promote awareness tools, promotional items and materials relating
to the Agency Product strictly according to national laws and regulations. Any marketing fee shall be undertaken by Party B. 
 7. Within the
term hereof, Party B shall have the right to select and designate any distributor and marketing mode for the Agency Sales District in light of the specific sales of the Agency Products without the consent of Party A. 

8. Within the term hereof, Party B shall not sell any agency product of third parties that is identical with that of Party A in the Agency Sales
District. 
 V. Breaches of Party A and Party B and their Treatment 
 1. If, within the term hereof, Party A fails to provide Party B with the Agency Products pursuant to this Agreement due to its own faults or for other reasons such as any change in national policies, or
approvals, or if the Agency Products are expressly prohibited by China for circulation, Party B shall have the right to opt for the termination of this Agreement and Party A shall refund to Party B any agency fee for the remaining term of this
Agreement, or Party B shall, within 30 days after the occurrence of the above situation, negotiate with Party A to sign a separate supplemental agreement. 

  
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 2. If, within the term hereof, Party A terminates or discharges this Agreement without authorization, or
appoints any other agents or distributors for the Agency Product to the Agency Sales District of Party B in any manner or for any reasons, or sells the Agency Product hereunder by itself in any manner or for any reasons without the written consent
of Party B, Party A shall refund to Party B any agency fee for the remaining term of this Agreement and shall indemnify Party B against all losses suffered by it arising therefrom. If Party B sells any agency product of third parties that is
identical to that of Party A in the Agency Sales District without the written consent of Party A, Party B shall not have the right to require Party A to refund any agency fee for the remaining term of this Agreement and shall indemnify Party A
against all losses suffered by it arising therefrom. 
 3. Where the Agency Products provided by Party A to Party B do not comply with national
requirements, Party B shall have the right to demand for the return or replacement of such products. Party A shall make the replacement or refund any payment for the products and shall also bear all costs paid by Party B arising therefrom. In the
event of any loss suffered by Party B, Party A shall indemnify Party B against all direct and indirect economic losses. If Party B refuses to accept any qualified Agency Products provided by Party A that meet the national requirements without
causes, Party B shall indemnify Party A against all direct and indirect economic losses suffered by it arising therefrom. 
 4. If Party A
delays in the delivery of products (for more than 5 days) or Party B delays in taking delivery of products from the warehouse designated by Party A (for more than 5 days), it shall pay to the other party a penalty which will be calculated at
0.5% of the total amount of the products on a daily basis. 
 VI. Delivery and Acceptance of Products, and Undertaking of Freight
Charges 
 1. Party B shall be responsible for the transportation of products, and shall take delivery of products from the warehouse
designated by Party A. 
 2. Each batch of the Agency Products delivered by Party A shall meet the specifications set out in “Table
1”. Upon delivery of each batch of the Agency Products, Party B shall immediately inspect the products so as to ascertain whether the products meet the requirements of sales agreement or this Agreement. In the event of any inconsistency, Party
B shall, within 7 working days of the receipt of the Agency Products, serve a written notice to Party A to refuse the acceptance of the Agency Products that fail to meet the relevant requirements, or require Party A to make replacement thereof. Any
costs arising therefrom shall be paid by Party A. The above notice shall specify which parts of the Agency Products are not in compliance with the specifications. Party A shall, within 7 days of the receipt of the written notice from Party B, take
measures to withdraw or replace the products. Otherwise, the Agency Products that do not comply with the specifications will not be counted into the total quantity of products delivered. 
 3. If, in the normal course of sale, Party B discovers any shortage of or damage to the Agency Products in their original packing boxes, Party A shall, subject to confirmation of both parties, make up the
same number of the Agency Products that are in shortage and damaged, and shall bear any transportation cost in connection therewith. 

  
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 VII. Force Majeure and Disputes Resolution 

1. If part of this Agreement cannot be performed due to any events of force majeure stipulated by laws, any liabilities arising from it shall be released.
Where none of the provisions of this Agreement can be performed, this Agreement shall be terminated and no party shall be liable to it. 
 2.
Any dispute or conflict arising out of this Agreement shall be resolved by the parties through friendly consultation. In the event that no agreement can be reached through consultation, either party can bring an action to the people’s court at
the place where Party B is located. 
 3. This Agreement shall be governed by the laws of the People’s Republic of China. 

VIII. Term of this Agreement 
 1.
This Agreement shall become effective on the date when it is executed and sealed by the parties. 
 2. This Agreement shall have a term (of 10
years) from January 1, 2011 to December 31, 2020. If Party B does not request for the renewal of this Agreement in writing one month prior to the expiry hereof, this Agreement shall be automatically terminated. 

IX. Training and Post-sales service 
 1. Without prejudice to the normal business operation of Party B, Party A shall regularly or from time to time supervise the business activities of Party B or its designated third parties. 

2. Within the term hereof, Party A shall provide training courses on business operation for Party B or its designated third parties from time to time.
Any training costs shall be borne by Party B. Within the term hereof, Party A shall continuously provide Party B or its designated third parties with guidance on marketing, services or technologies as required for business development, and shall
provide Party B with the necessary assistance. 
 3. With regard to any Agency Products provided by Party A to Party B or its designated third
parties, Party A shall offer quality assurance service strictly in accordance with the letter of quality assurance provided by Party A and the relevant national requirements. 
 X. Representations and Warranties 
 (1) By Party A: 

1. Party A is an enterprise duly incorporated and validly existing under the laws of the People’s Republic of China, and shall have the authority to
execute and the ability to perform this Agreement. 

  
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 2. At the time of signing this Agreement, no courts, arbitral bodies, administrative or regulatory
authorities have made any judgment, ruling, verdict or specific administrative act that has material adverse impacts on the performance by Party A of this Agreement. 
 3. The execution and performance of this Agreement shall not have conflicts with any agreement or other contracts or documents to which Party A is a party. 

4. All internal authorization procedures required to be taken by Party A for the execution of this Agreement have been completed. The signatory of this
Agreement is the legal representative or authorized representative of Party A. This Agreement shall be legally binding on Party A once it becomes effective. 
 (2) By Party B: 
 1. Party B is an enterprise duly incorporated and validly existing under the laws
of the People’s Republic of China, and shall have the authority to execute and the ability to perform this Agreement. 
 2. At the time of
signing this Agreement, no courts, arbitral bodies, administrative or regulatory authorities have made any judgment, ruling, verdict or specific administrative act that has material adverse impacts on the performance by Party B of this Agreement.

 3. The execution and performance of this Agreement shall not have conflicts with any agreement or other contracts or documents to which Party
B is a party. 
 4. All internal authorization procedures required to be taken by Party B for the execution of this Agreement have been
completed. The signatory of this Agreement is the legal representative or authorized representative of Party B. This Agreement shall be legally binding on Party B once it becomes effective. 
 XI. Confidentiality 
 Party A and Party B undertake that they will keep in confidence
any documents and materials of the other party that come to their knowledge and cannot be obtained from public channels during the discussion, execution and performance of this Agreement (including without limitation, trade secrets, company plan,
operation activities, financial information, technical information, business information and other trade secrets, collectively referred to as the “Trade Secrets”). Without the consent of the party who originally provides such
information and documents, the other party shall not divulge all or part of the Trade Secrets to any third parties, unless otherwise required by laws and regulations or otherwise agreed by the parties. The confidentiality period shall be for a term
of 10 years from the discharge or termination of this Agreement. 
 XII. Miscellaneous 

1. This Agreement is executed in two originals. Party A and Party B shall each keep one original. 

2. This Agreement shall not be regarded as a basis for delivery of products. Party B shall sign a separate sales agreement for the purchase of products
from Party A each time. 

  
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 3. In the event of any inconsistencies between this Agreement and the Sales and Purchase Agreement
entered into by the parties in each year, the Sales and Purchase Agreement of each year shall prevail. 
 The remainder of this page is
intentionally left blank. 

  
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 Contract No. 

 
  
  

 (This page is the signature page) 

 

					
	Party A	  	:	  	Jilin Yuhua Pharmaceutical Co., Ltd. [Chop affixed]
	
	Signed by the legal representative or authorized representative: /s/ Dong Hongbo
			
	Party B	  	:	  	Liaoning Nuokang Medicines Co., Ltd. [Chop affixed]
	
	Signed by the legal representative or authorized representative: /s/ Xue Baizhong
	  
 Place: Shenyang, China

  
 Page 8 of 8Warrant Agreement

 EXHIBIT 4.1 

 
  
 WARRANT AGREEMENT 
 Dated as of 

June 2, 2011 

between 
 WEBSTER
FINANCIAL CORPORATION 
 and 
 MELLON INVESTOR SERVICES LLC 
 as Warrant Agent 

 
  

Warrants for 

Common Stock 
  

 
  

 

 Table of Contents 

 

					
	 	  	 	  	 Page

	ARTICLE I
	
	DEFINITIONS
			
	Section 1.01.	  	Definitions.	  	1
	Section 1.02.	  	Other Definitions.	  	3
	Section 1.03.	  	Rules of Construction.	  	3
	
	ARTICLE II
	
	WARRANTS
			
	Section 2.01.	  	Form.	  	3
	Section 2.02.	  	Execution and Countersignature.	  	5
	Section 2.03.	  	Registry.	  	5
	Section 2.04.	  	Transfer and Exchange.	  	6
	Section 2.05.	  	Definitive Warrants.	  	8
	Section 2.06.	  	Replacement Certificates.	  	9
	Section 2.07.	  	Outstanding Warrants.	  	9
	Section 2.08.	  	Cancellation.	  	10
	Section 2.09.	  	CUSIP Numbers.	  	10
	
	ARTICLE III
	
	EXERCISE TERMS
			
	Section 3.01.	  	Exercise.	  	10
	Section 3.02.	  	Manner of Exercise and Issuance of Shares.	  	10
	Section 3.03.	  	Covenant to Make Stock Certificates Available.	  	11
	Section 3.04.	  	Payment for Fractional Shares.	  	11
	
	ARTICLE IV
	
	ANTIDILUTION PROVISIONS
			
	Section 4.01.	  	Antidilution Adjustments; Notice of Adjustment.	  	11
	Section 4.02.	  	Adjustment to Warrant Certificate.	  	12
	
	ARTICLE V
	
	WARRANT AGENT
			
	Section 5.01.	  	Appointment of Warrant Agent.	  	12
	Section 5.02.	  	Rights and Duties of Warrant Agent.	  	12

  
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	Section 5.03.	  	Individual Rights of Warrant Agent.	  	14
	Section 5.04.	  	Warrant Agent’s Disclaimer.	  	14
	Section 5.05.	  	Compensation and Indemnity.	  	14
	Section 5.06.	  	Successor Warrant Agent.	  	15
	
	ARTICLE VI
	
	MISCELLANEOUS
			
	Section 6.01.	  	Persons Benefitting.	  	17
	Section 6.02.	  	Amendment.	  	17
	Section 6.03.	  	Notices.	  	18
	Section 6.04.	  	Governing Law.	  	20
	Section 6.05.	  	Successors.	  	20
	Section 6.06.	  	Multiple Originals.	  	20
	Section 6.07.	  	Inspection of Agreement.	  	20
	Section 6.08.	  	Table of Contents.	  	20
	Section 6.09.	  	Severability.	  	20
	Section 6.10.	  	Customer Identification Program.	  	20

 EXHIBIT A Form of Warrant 

  
 ii 

 WARRANT AGREEMENT dated as of June 2, 2011 (this “Agreement”), between
Webster Financial Corporation (the “Company”) and Mellon Investor Services LLC, a New Jersey limited liability company (operating with the service name BNY Mellon Shareowner Services), as Warrant Agent (the “Warrant
Agent”). 
 The Company has issued the warrants described herein (each, a “Warrant” and collectively,
the “Warrants”) to the U.S. Department of the Treasury (“Treasury”) in connection with Treasury’s Capital Purchase Program pursuant to the Letter Agreement dated November 21, 2008 between the Company and
Treasury, which agreement incorporates by reference the Securities Purchase Agreement – Standard Terms attached thereto as Exhibit A. Treasury desires to sell all or a portion of the Warrants at any time or from time to time. 

Each Warrant entitles the registered holder thereof (the “Holder”) to purchase one share of Common Stock, subject to the
provisions of this Agreement and the relevant Warrant Certificate. Each Warrant Certificate (including any Global Warrant) shall evidence such number of Warrants as is set forth therein, subject to adjustment pursuant to the provisions of the
Warrant Certificate. 
 The Warrants and the shares of Common Stock issuable upon exercise of the Warrants will be freely
transferable by Holders that are not Affiliates of the Company. The Company desires the Warrant Agent to act on behalf of the Company in connection with the registration, transfer, exchange, redemption, exercise and cancellation of the Warrants as
provided herein and the Warrant Agent is willing to so act. 
 Each party agrees as follows for the benefit of the other party
and for the equal and ratable benefit of the Holders of Warrants: 
 ARTICLE I 

DEFINITIONS 
 Section 1.01. Definitions. 
 “Affiliate” means, with respect
to any Person, any Person directly or indirectly controlling, controlled by or under common control with, such other Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlled
by” and “under common control with”) when used with respect to any Person, means the possession, directly or indirectly, of the power to cause the direction of management and/or policies of such Person, whether through the ownership
of voting securities by contract or otherwise. 
 “Agent Members” means the securities brokers and dealers,
banks and trust companies, clearing organizations and certain other organizations that are participants in the Depositary’s system. 
 “business day” means any day except (i) Saturday, Sunday, (ii) any day on which banking institutions in the State of New York are authorized or required by law or

  
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other governmental actions to close, and (ii) any time when the Warrants are listed on the New York Stock Exchange, any day on which the New York Stock Exchange is authorized or required by
law or other governmental actions to close. 
 “Common Stock” means the common stock, par value $0.01 per
share, of the Company. 
 “Definitive Warrant” means a Warrant Certificate in definitive form that is not
deposited with the Depositary or with Mellon Investor Services LLC as custodian for the Depositary. 

“Depositary” means The Depository Trust Company, its nominees and their respective successors. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and
regulations promulgated thereunder. 
 “Exercise Price” has the meaning set forth in the form of Warrant
Certificate attached as Exhibit A hereto. 
 “Expiration Time” has the meaning set forth in the form of Warrant
Certificate attached as Exhibit A hereto. 
 “Officer” means the Chief Executive Officer, the President, the
Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers. 
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Warrant Agent. Such counsel may be an employee of or counsel to the Company or the
Warrant Agent. 
 “Person” means an individual, firm, corporation, partnership, joint venture, association,
joint-stock company, limited liability company, limited liability partnership, trust, unincorporated organization, or government or any agency or political subdivision thereof or any other entity, and shall include any successor (by merger or
otherwise) thereof or thereto. 
 “Shares” has the meaning set forth in the form of Warrant Certificate
attached as Exhibit A hereto. 
 “Transfer Agent” has the meaning set forth in the form of Warrant Certificate
attached as Exhibit A hereto. 
 “Warrant Certificate” means any fully registered certificate (including a
Global Warrant) issued by the Company and authenticated by the Warrant Agent under this Agreement evidencing Warrants, in the form attached as Exhibit A hereto. 

  
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 “Warrant Share Number” has the meaning set forth in the form of Warrant
Certificate attached as Exhibit A hereto. 
 Section 1.02. Other Definitions. 

 

					
	 Term
	  	Defined in
Section	 
		
	 “Agreement”
	  	 	Recitals	  
	 “Company”
	  	 	Recitals	  
	 “Global Warrant”
	  	 	2.01(a)	  
	 “Holders”
	  	 	Recitals	  
	 “Registry”
	  	 	2.03	  
	 “Warrant”
	  	 	Recitals	  
	 “Warrant Agent”
	  	 	Recitals	  

 Section 1.03.
Rules of Construction. 
 Unless the text otherwise requires: 

(i) a defined term has the meaning assigned to it; 

(ii) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted
accounting principles as in effect on the date hereof; 
 (iii) “or” is not exclusive; 

(iv) “including” means including, without limitation; and 

(v) words in the singular include the plural and words in the plural include the singular. 

ARTICLE II 

WARRANTS 

Section 2.01. Form. 
 (a) Global Warrants. Except as provided in Section 2.04 or 2.05, Warrants issued upon any transfer or exchange thereof shall be issued in the form of one or more permanent global Warrants in
fully registered form with the global securities legend set forth in Exhibit A 

  
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hereto (each, a “Global Warrant”), which shall be deposited on behalf of the Company with Mellon Investor Services LLC, as custodian for the Depositary (or with such other custodian as
the Depositary may direct), and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and countersigned by the Warrant Agent as hereinafter provided. 

(b) Book-Entry Provisions. This Section 2.01(b) shall apply only to a Global Warrant deposited with or on behalf of the
Depositary. 
 (i) The Company shall prepare and execute and the Warrant Agent shall, in accordance with
Section 2.02, if requested, countersign, by either manual or facsimile signature, and deliver one or more Global Warrants that (A) shall be registered in the name of the Depositary or the nominee of the Depositary and (B) shall be
delivered by the Warrant Agent to the Depositary or pursuant to the Depositary’s instructions or held by Mellon Investor Services LLC as custodian for the Depositary. Each Global Warrant shall be dated the date of its countersignature by the
Warrant Agent. 
 (ii) Agent Members shall have no rights under this Agreement with respect to any Global Warrant
held on their behalf by the Depositary or by Mellon Investor Services LLC as the custodian of the Depositary or under such Global Warrant except to the extent set forth herein or in a Warrant Certificate, and the Depositary may be treated by the
Company, the Warrant Agent and any agent of the Company or the Warrant Agent as the absolute owner of such Global Warrant for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (A) prevent the Company, the Warrant
Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary or (B) impair, as between the Depositary and the Agent Members, the operation of
customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Warrant. The rights of beneficial owners in a Global Warrant shall be exercised through the Depositary subject to the applicable
procedures of the Depositary except to the extent set forth herein or in a Warrant Certificate. 
 (c) Definitive
Securities. Except as provided in Section 2.04 or 2.05, owners of beneficial interests in Global Warrants will not be entitled to receive physical delivery of Definitive Warrants. 

(d) Warrant Certificates. Warrant Certificates shall be in substantially the form attached as Exhibit A hereto and shall be typed,
printed, lithographed or engraved or produced by any combination of such methods or produced in any other manner permitted by the rules of any securities exchange on which the Warrants may be listed, all as determined by the Officer or Officers
executing such Warrant Certificates, as evidenced by their execution thereof. Any Warrant Certificate shall have such insertions as are appropriate or required or permitted by this Agreement and may have such letters, numbers or other marks of
identification and such legends and endorsements, stamped, printed, lithographed or engraved thereon, (i) as the Company or the Warrant Agent may deem appropriate and as are not inconsistent with the provisions of this

  
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Agreement, (ii) such as may be required to comply with this Agreement, any law or any rule of any securities exchange on which the Warrants may be listed, and (iii) such as may be
necessary to conform to customary usage. 
 Section 2.02. Execution and Countersignature. 

At least one Officer shall sign the Warrant Certificates for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Warrant Certificate no longer holds that office at the time the Warrant Agent countersigns the
Warrant Certificate, the Warrants evidenced by such Warrant Certificate shall be valid nevertheless. 
 The Warrant Agent shall
initially countersign, by either manual or facsimile signature, and deliver Warrant Certificates entitling the Holders thereof to purchase in the aggregate not more than 3,282,276 shares of Common Stock (subject to adjustment as provided in such
Warrant Certificates) upon receipt of a written order of the Company signed by an Officer of the Company. Each Warrant Certificate shall be dated the date of its countersignature by the Warrant Agent. 

At any time and from time to time after the execution of this Agreement, the Warrant Agent shall upon receipt of a written order of the
Company signed by an Officer of the Company countersign, by either manual or facsimile signature, for issue a Warrant Certificate evidencing the number of Warrants specified in such order; provided, however, that the Warrant Agent
shall be entitled to receive an Officers’ Certificate and an Opinion of Counsel of the Company that it may reasonably request in connection with such countersignature of Warrants. Such order shall specify the number of Warrants to be evidenced
on the Warrant Certificate to be countersigned, the date on which such Warrant Certificate is to be countersigned and the number of Warrants then authorized. 
 The Warrants evidenced by a Warrant Certificate shall not be valid until an authorized signatory of the Warrant Agent countersigns the Warrant Certificate either manually or by facsimile signature. Such
signature shall be solely for the purpose of authenticating the Warrant Certificate and shall be conclusive evidence that the Warrant Certificate so countersigned has been duly authenticated and issued under this Agreement. 

Section 2.03. Registry. 
 The Warrants shall be issued in registered form only. The Warrant Agent shall keep a registry (the “Registry”) of the Warrant Certificates and of their transfer and exchange. The Registry shall
show the names and addresses of the respective Holders and the date and number of Warrants evidenced on the face of each of the Warrant Certificates. The Holder of any Global Warrant will be the Depositary or a nominee of the Depositary in whose
name the Global Warrant is registered. The Warrant holdings of Agent Members will be recorded on the books of the Depositary. The beneficial interests in the Global Warrant held by customers of Agent Members will be reflected on the books and
records of such Agent Members and will not be known to the Warrant Agent, the Company or to the Depositary. 

  
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 Except as otherwise provided herein or in the Warrant Certificate, the Company and the
Warrant Agent may deem and treat any Person in whose name a Warrant Certificate is registered in the Registry as the absolute owner of such Warrant Certificate for all purposes whatsoever and neither the Company nor the Warrant Agent shall be
affected by notice to the contrary; provided, however, that the Warrant Agent may rely conclusively on any written notice provided to it by the Company. 
 Section 2.04. Transfer and Exchange. 
 (a) Transfer and Exchange of Global
Warrants. 
 (i) Registration of the transfer and exchange of Global Warrants or beneficial interests therein
shall be effected through the book-entry system maintained by the Depositary, in accordance with this Agreement and the Warrant Certificates and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Warrant (or
the relevant Agent Member on behalf of such transferor) shall deliver to the Warrant Agent (x) a written order given in accordance with the Depositary’s procedures containing information regarding the account of the Agent Member to be
credited with a beneficial interest in the Global Warrant and (y) a written instruction of transfer in form satisfactory to the Warrant Agent, duly executed by the Holder thereof or by his attorney, duly authorized in writing. Additionally,
prior to the Holder registering the transfer or making the exchange as requested, the requirements for such transfer or exchange to be issued in a name other than the registered Holder shall be met. Such requirements include, inter alia, a Medallion
guarantee from an eligible guarantor institution participating in a Medallion Signature Guarantee program approved by the Securities Transfer Association (at a guarantee level acceptable to the Company’s transfer agent), and any other
reasonable evidence of authority that may be required by the Warrant Agent. Upon satisfaction of the conditions in this Clause (i), the Warrant Agent shall, in accordance with such instructions, instruct the Depositary to credit to the account of
the Agent Member specified in such instructions a beneficial interest in the Global Warrant and to debit the account of the Agent Member making the transfer of the beneficial interest in the Warrant being transferred. 

(ii) Notwithstanding any other provisions of this Agreement (other than the provisions set forth in Section 2.05), a
Global Warrant may only be transferred as a whole, and not in part, and only by (i) the Depositary, to a nominee of the Depositary, (ii) a nominee of the Depositary, to the Depositary or another nominee of the Depositary, or (iii) the
Depositary or any such nominee to a successor Depositary or its nominee. 
 (iii) In the event that a Global
Warrant is exchanged and transferred for Definitive Warrants pursuant to Section 2.05, such Warrants may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of

  
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this Section 2.04 and the requirements of any Warrant Certificate and such other procedures as may from time to time be adopted by the Company that are not inconsistent with the terms of
this Agreement or of any Warrant Certificate. 
 (b) Cancellation or Adjustment of Global Warrant. At such time as all
beneficial interests in a Global Warrant have been exchanged for Definitive Warrants, redeemed, repurchased or canceled, such Global Warrant shall be returned to the Depositary for cancellation or retained and canceled by Mellon Investor Services
LLC as custodian. At any time prior to such cancellation, if any beneficial interest in a Global Warrant is transferred or exchanged for Definitive Warrants, redeemed, repurchased or canceled, the number of Warrants represented by such Global
Warrant shall be reduced and an adjustment shall be made on the books and records of the Warrant Agent and the Depositary to reflect such reduction. 
 (c) Obligations with Respect to Transfers and Exchanges of Warrants. 
 (i) To permit registrations of transfers and exchanges, the Company shall execute and the Warrant Agent shall countersign, by either manual or facsimile signature, Global Warrants and Definitive Warrants
as required pursuant to the provisions of Section 2.02 and this Section 2.04. 
 (ii) No service charge
shall be made to a Holder for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith. The Warrant Agent
shall have no duty or obligation to take any action whatsoever with respect to any registration of transfer or exchange until the Holder has paid a sum sufficient to cover any transfer tax, assessment or similar governmental charge that may be
imposed in connection therewith. 
 (iii) All Warrants issued upon any registration of transfer or exchange
pursuant to the terms of this Agreement shall be the valid obligations of the Company, entitled to the same benefits under this Agreement as the Warrants surrendered upon such registration for transfer or exchange. 

(d) No Obligation of the Warrant Agent. 
 (i) The Warrant Agent shall have no responsibility or obligation to any beneficial owner of a Global Warrant, any Agent Member or other Person with respect to the accuracy of the records of the Depositary
or its nominee or of any participant or member thereof, with respect to any ownership interest in the Warrants or with respect to the delivery to any Agent Member, beneficial owner or other Person (other than the Depositary) of any notice or the
payment of any amount, under or with respect to such Warrants. All notices and communications to be given to the Holders and all payments to be made to Holders under the Warrants shall be given or made only to or upon the order of the registered
Holders (which shall be the Depositary or its nominee in the case of a Global Warrant). The rights of beneficial owners in any Global Warrant shall be exercised only through the Depositary subject to the applicable rules and

  
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procedures of the Depositary. The Warrant Agent may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any
beneficial owners. 
 (ii) The Warrant Agent shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Agreement or under applicable law with respect to any transfer of any interest in any Warrant (including any transfer between or among the Agent Members or beneficial owners in any
Global Warrant) 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 Agreement, and to examine the same to determine
substantial compliance as to form with the express requirements hereof. 
 Section 2.05. Definitive Warrants. 

(a) Beneficial interests in a Global Warrant deposited with the Depositary or with Mellon Investor Services LLC as custodian for the
Depositary pursuant to Section 2.01 shall be transferred to each beneficial owner thereof in the form of Definitive Warrants evidencing a number of Warrants equivalent to such owner’s beneficial interest in such Global Warrant, in exchange
for such Global Warrant, only if such transfer complies with Section 2.04 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Warrant or if at any time the Depositary ceases
to be a “clearing agency” registered under the Exchange Act and, in each such case, a successor Depositary is not appointed by the Company within 90 days of such notice, (ii) the Company, in its sole discretion, notifies the Warrant
Agent in writing that it elects to cause the issuance of Definitive Warrants under this Agreement, or (iii) the Company shall be adjudged a bankrupt or insolvent or makes an assignment for the benefit of its creditors or institutes proceedings
to be adjudicated a bankrupt or shall consent to the filing of a bankruptcy proceeding against it, or shall file a petition or answer or consent seeking reorganization under Federal bankruptcy laws or any other similar applicable Federal or State
law, or shall consent to the filing of any such petition, or shall consent to the appointment of a receiver or custodian of all or any substantial part of its property, or shall admit in writing its inability to pay or meet its debts as they mature,
or if a receiver or custodian of it or all or any substantial part of its property shall be appointed, or if a public officer shall have taken charge or control of the Company or of its property or affairs, for the purpose of rehabilitation,
conservation or liquidation. 
 (b) Any Global Warrant that is transferable to the beneficial owners thereof in the form of
Definitive Warrants pursuant to this Section 2.05 shall be surrendered by the Depositary to the Warrant Agent, to be so transferred, in whole or from time to time in part, without charge, and the Warrant Agent shall, if directed and provided
with all necessary information by the Depositary, countersign, by either manual or facsimile signature, and deliver to each beneficial owner in the name of such beneficial owner, upon such transfer of each portion of such Global Warrant, Definitive
Warrants evidencing a number of Warrants equivalent to such beneficial owner’s beneficial interest in the Global Warrant. The Warrant Agent shall register such transfer in the Registry, and upon such transfer the surrendered Global Warrant
shall be cancelled by the Warrant Agent. 

  
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 (c) All Definitive Warrants issued upon registration of transfer pursuant to this
Section 2.05 shall be the valid obligations of the Company, evidencing the same obligations of the Company and entitled to the same benefits under this Agreement and the Global Warrant surrendered for registration of such transfer. 

(d) Subject to the provisions of Section 2.05(b), the registered Holder of a Global Warrant may grant proxies and otherwise
authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Agreement or the Warrants. 

(e) In the event of the occurrence of any of the events specified in Section 2.05(a), the Company will promptly make available to
the Warrant Agent a reasonable supply of Definitive Warrants necessary to comply with this Agreement in definitive, fully registered form. 
 (f) Neither the Company nor the Warrant Agent will be liable or responsible for any registration or transfer of any Warrants that are registered or to be registered in the name of a fiduciary or the
nominee of a fiduciary. 
 Section 2.06. Replacement Certificates. 

If a mutilated Warrant Certificate is surrendered to the Warrant Agent or if the Holder of a Warrant Certificate provides proof
reasonably satisfactory to the Company and the Warrant Agent that the Warrant Certificate has been lost, destroyed or wrongfully taken, the Company shall issue and the Warrant Agent shall countersign, by either manual or facsimile signature, a
replacement Warrant Certificate of like tenor and representing an equivalent number of Warrants, if the reasonable requirements of the Warrant Agent and of Section 8-405 of the Uniform Commercial Code as in effect in the State of New York are
met. If required by the Warrant Agent or the Company, such Holder shall furnish an indemnity bond sufficient in the reasonable judgment of the Company and the Warrant Agent to protect the Company and the Warrant Agent from any loss that either of
them may suffer if a Warrant Certificate is replaced. The Company and the Warrant Agent may charge the Holder for their expenses in replacing a Warrant Certificate. Every replacement Warrant Certificate evidences an additional obligation of the
Company. 
 Section 2.07. Outstanding Warrants. 
 The Warrants outstanding at any time are all Warrants evidenced on all Warrant Certificates authenticated by the Warrant Agent except for those canceled by it and those delivered to it for cancellation. A
Warrant ceases to be outstanding if the Company or an Affiliate of the Company holds the Warrant. 
 If a Warrant Certificate is
replaced pursuant to Section 2.06, the Warrants evidenced thereby cease to be outstanding unless the Warrant Agent and the Company receive proof satisfactory to them that the replaced Warrant Certificate is held by a bona fide purchaser.

  
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 Section 2.08. Cancellation. 

In the event the Company shall purchase or otherwise acquire Definitive Warrants, the same shall thereupon be delivered to the Warrant
Agent for cancellation. 
 The Warrant Agent and no one else shall cancel and destroy all Warrant Certificates surrendered for
registration of transfer, exchange, replacement, exercise or cancellation and deliver a certificate of such destruction to the Company unless the Company directs the Warrant Agent to deliver canceled Warrant Certificates to the Company. The Company
may not issue new Warrant Certificates to replace Warrant Certificates to the extent they evidence Warrants that have been exercised or Warrants that the Company has purchased or otherwise acquired. 

Section 2.09. CUSIP Numbers. 
 The Company in issuing the Warrants may use “CUSIP” numbers (if then generally in use) and, if so, the Warrant Agent, if provided with such “CUSIP” numbers, shall use “CUSIP”
numbers in notices as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such “CUSIP” numbers either as printed on the Warrant Certificates or
as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Warrant Certificates. 
 ARTICLE III 
 EXERCISE TERMS 

Section 3.01. Exercise. 
 The Exercise Price of each Warrant, the Warrant Share Number, the number of Warrants evidenced by any Warrant Certificate and the Expiration Time of each Warrant shall be set forth in the related Warrant
Certificate. The Exercise Price of each Warrant and the Warrant Share Number are subject to adjustment pursuant to the terms set forth in the Warrant Certificate. 
 Section 3.02. Manner of Exercise and Issuance of Shares. 
 Warrants may be
exercised in the manner set forth in Section 3 of the Warrant Certificate, and upon any such exercise, Shares shall be issued in the manner set forth in Section 4 of the Warrant Certificate. The Company shall make all determinations
regarding the number of Shares to be issued (with written notice thereof to the Warrant Agent) if Shares are issued pursuant to the cashless exercise provision set forth in Section 3(B) of the Warrant Certificate. The Warrant Agent shall have
no duty or obligation to investigate or confirm whether the Company’s determination regarding the number of Shares to be issued in the event of such cashless exercise is accurate or correct, nor shall the Warrant Agent have any duty or
obligation to take any action with regard to such cashless exercise prior to being notified by the Company of the relevant number of Shares to be issued. 

  
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 Section 3.03. Covenant to Make Stock Certificates Available. 

(a) The Warrant Agent is hereby authorized to requisition from time to time from any stock transfer agents of the Company stock
certificates required to honor outstanding Warrants upon exercise thereof in accordance with the terms of this Agreement, and the Company agrees to authorize and direct such transfer agents to comply with all such requests of the Warrant Agent. The
Company shall supply such transfer agents with duly executed stock certificates for such purposes and shall provide or otherwise make available any cash or scrip that may be payable upon exercise of Warrants as provided herein and in each Warrant
Certificate. 
 (b) The Warrant Agent is hereby authorized to create a special account for the reserve of shares of Common Stock
to be issued upon exercise of the Warrants. 
 (c) In connection with the shares of Common Stock to be issued upon exercise, the
Company shall, if so required by the Warrant Agent, provide an opinion of counsel, stating that all such shares, when issued, will be: 
 (i) registered, or subject to a valid exemption from registration, under the Securities Act of 1933, as amended, the Exchange Act and all material and necessary State securities law filings will have been
made with respect to such shares; and 
 (ii) validly issued, fully paid and non-assessable. 

Section 3.04. Payment for Fractional Shares. 
 Whenever a payment for fractional Shares is to be made by the Warrant Agent, pursuant to Section 5 of the Warrant Certificate, the Company shall (i) promptly prepare and deliver to the Warrant
Agent a certificate stating the amount of money to be paid in lieu of such fractional shares, and (ii) provide sufficient monies to the Warrant Agent in the form of fully collected funds to make such payments. The Warrant Agent shall be fully
protected in relying upon such a certificate and shall have no duty with respect to, and shall not be deemed to have knowledge of any payment for fractional Shares under any Section of this Agreement relating to the payment of fractional Shares
unless and until the Warrant Agent shall have received such a certificate and sufficient monies. 
 ARTICLE IV 

ANTIDILUTION PROVISIONS 
 Section 4.01. Antidilution Adjustments; Notice of Adjustment. 
 The Exercise
Price and the Warrant Share Number shall be subject to adjustment from time to time as provided in Section 12 of the Warrant Certificate. Whenever the Exercise Price or the Warrant Share Number is so adjusted or is proposed to be adjusted as
provided in Section 12 of the Warrant Certificate, the Company shall deliver to the Warrant Agent the notices or statements, and shall cause a copy of such notices or statements to be sent or communicated to each Holder pursuant to
Section 6.03, as provided in Sections 12(H) and (I) of 

  
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the Warrant Certificate. The Warrant Agent shall be fully protected in relying on any such notice or statement and on any adjustment or statement therein contained and shall have no duty or
liability with respect to, and shall not be deemed to have knowledge of, any adjustment or any such event unless and until it shall have received such a notice or statement. 
 Section 4.02. Adjustment to Warrant Certificate. 
 The form of Warrant
Certificate need not be changed because of any adjustment made pursuant to the Warrant Certificate, and Warrant Certificates issued after such adjustment may state the same Exercise Price and the same Warrant Share Number as are stated in the
Warrant Certificates initially issued pursuant to this Agreement. The Company, however, may at any time in its sole discretion make any change in the form of Warrant Certificate that it may deem appropriate to give effect to such adjustments and
that does not affect the substance of the Warrant Certificate, and any Warrant Certificate thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant Certificate or otherwise, may be in the form as so changed.

 ARTICLE V 
 WARRANT AGENT 
 Section 5.01. Appointment of Warrant Agent.

 The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express provisions of
this Agreement (and no implied terms or conditions) and the Warrant Agent hereby accepts such appointment. The Warrant Agent shall not be liable for anything that it may do or refrain from doing in connection with this Agreement, except for its own
gross negligence, willful misconduct or bad faith (each as determined by a final, non-appealable judgment of a court of competent jurisdiction). 
 Section 5.02. Rights and Duties of Warrant Agent. 
 (a) Agent for the
Company. In acting under this Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligation or relationship of agency or trust for or with any of the
holders of Warrant Certificates or beneficial owners of Warrants. 
 (b) Counsel. The Warrant Agent may consult with
counsel satisfactory to it (who may be counsel to the Company or an employee of the Warrant Agent), and the advice or opinion of such counsel shall be full and complete authorization and protection to the Warrant Agent in respect of any action
taken, suffered or omitted by it hereunder in the absence of bad faith and in accordance with the advice or opinion of such counsel. 
 (c) Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken, omitted to be taken or suffered by it in reliance upon any Warrant
Certificate, notice, direction, consent, certificate, affidavit, statement, request or other 

  
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paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties, and shall have no duty to inquire into or investigate the validity, accuracy
or content thereof. The Warrant Agent shall not take any instructions or directions except those given in accordance with this Agreement. 
 (d) No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein (or in any modification or amendment hereof to which the Warrant
Agent has consented in writing) and in the Warrant Certificates, and no implied or inferred duties or obligations of the Warrant Agent shall be read into this Agreement (or in any modification or amendment hereof to which the Warrant Agent has
consented in writing) or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that it believes may involve it in any expense or liability for which it does not receive
indemnity if such indemnity is reasonably requested. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it
to the Holders or on behalf of the Holders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the
performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder with respect to such default, including any duty or responsibility to initiate or attempt to
initiate any proceedings at law or otherwise. 
 (e) Not Responsible for Adjustments or Validity of Stock. The Warrant
Agent shall not at any time be under any duty or responsibility to any Holder or to the Company to determine whether any facts exist that may require the Warrant Agent to (i) perform any calculations with respect to any adjustment of the
Warrant Share Number or the Exercise Price, or with respect to the nature or extent of any adjustment when made, or with respect to the method employed, or herein or in any supplemental agreement provided to be employed, in making the same, or
(ii) confirm the accuracy of the Company’s calculation with respect to any such adjustment described in Section 5.02(e)(i). The Warrant Agent shall not be accountable with respect to the validity or value of any Shares or of any
securities or property that may at any time be issued or delivered upon the exercise of any Warrant or upon any adjustment pursuant to Section 12 of the Warrant Certificate, and it makes no representation with respect thereto. The Warrant Agent
shall not be responsible for any failure of the Company to make any cash payment or to issue, transfer or deliver any Shares or stock certificates upon the surrender of any Warrant Certificate for the purpose of exercise or upon any adjustment
pursuant to Section 12 of the Warrant Certificate, or to comply with any of the covenants of the Company contained in the Warrant Certificate or this Agreement. The Warrant Agent shall have no duty or obligation to investigate or confirm
whether the Company’s calculations, including its determination of the number of Shares to be issued on such exercise, pursuant to any Section of this Agreement, is accurate or correct. 

(f) If the Warrant Agent shall receive any notice or demand (other than Notice of Exercise of Warrants) addressed to the Company by the
Holder of a Warrant, the Warrant Agent shall promptly forward such notice or demand to the Company. 

  
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 (g) In the event the Warrant Agent believes any ambiguity or uncertainty exists hereunder or
in any notice, instruction, direction, request or other communication, paper or document received by the Warrant Agent hereunder, or is for any reason unsure as to what action to take hereunder, the Warrant Agent shall notify the Company in writing
as soon as practicable, and upon delivery of such notice may, in its sole discretion, refrain from taking any action, and shall be fully protected and shall not be liable in any way to the Company or any Holder or other Person for refraining from
taking such action, unless the Warrant Agent receives written instructions signed by the Company which eliminate such ambiguity or uncertainty to the satisfaction of the Warrant Agent. Notwithstanding anything in this Agreement to the contrary, the
Warrant Agent is authorized and directed hereby to comply with any orders, judgments, or decrees of any court that it believes has jurisdiction over it and, absent gross negligence, willful misconduct or bad faith (each as determined by a final,
non-appealable judgment of a court of competent jurisdiction), will not be liable as a result of its compliance with the same. 

Section 5.03. Individual Rights of Warrant Agent. 
 The Warrant Agent and any stockholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or its affiliates or become
pecuniarily interested in transactions in which the Company or its affiliates may be interested, or contract with or lend money to the Company or its affiliates or otherwise act as fully and freely as though it were not the Warrant Agent under this
Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity. 
 Section 5.04. Warrant Agent’s Disclaimer. 
 The Warrant Agent shall not
be responsible for, and makes no representation as to the validity or adequacy of, this Agreement (except the due and valid authorized execution and delivery of this Agreement by the Warrant Agent) or the Warrant Certificates (except the due
countersignature of the Warrant Certificate(s) by the Warrant Agent) and it shall not be responsible for any statement in this Agreement or the Warrant Certificates other than its countersignature thereon; nor will the Warrant Agent be under any
duty or responsibility to insure compliance with any applicable federal or state securities laws in connection with the issuance, transfer or exchange of Warrant Certificates. 
 Section 5.05. Compensation and Indemnity. 
 (a) The Company agrees to pay the
Warrant Agent from time to time reasonable compensation for its services as agreed and to reimburse the Warrant Agent upon request for all reasonable out-of-pocket expenses incurred by it, including the reasonable compensation and expenses of the
Warrant Agent’s agents and counsel as agreed, in connection with the preparation, delivery, administration, execution and amendment of this Agreement and the exercise and performance of its duties hereunder. The Company shall indemnify and hold
harmless the Warrant Agent, its officers, directors, agents and counsel against any loss, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including reasonable agents’ and attorneys’ fees and
expenses) incurred by it without gross negligence, 

  
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willful misconduct or bad faith (each as determined by a final, non-appealable judgment of a court of competent jurisdiction) on its part arising out of or in connection with the acceptance,
administration, exercise or performance of its duties under this Agreement. The Warrant Agent shall notify the Company promptly of any claim for which it may seek indemnity. The costs and expenses incurred in enforcing this right of indemnification
shall be paid by the Company; provided, however, that the Company need not reimburse any expense or indemnify against any loss or liability incurred by the Warrant Agent through its own willful misconduct, gross negligence or bad faith (each as
determined by a final, non-appealable judgment of a court of competent jurisdiction). The Company’s obligations pursuant to this Section shall survive the termination of this Agreement and the resignation, replacement or removal of the Warrant
Agent. 
 (b) The Warrant Agent shall be responsible for and shall indemnify and hold the Company harmless from and against any
and all losses, damages, costs, charges, counsel fees, payments, expenses and liability (collectively, “Loss”) arising out of or attributable to the Warrant Agent’s refusal or failure to comply with the terms of this Agreement or
which arise out of the breach of any representation or warrant of the Warrant Agent hereunder, to the extent that such Loss shall have been determined by a final non-appealable judgment of a court of competent jurisdiction to be a result of the
Warrant Agent’s gross negligence, bad faith or willful misconduct and for which Loss the Warrant Agent is not entitled to indemnification under this Agreement; provided, however, the Warrant Agent’s aggregate liability hereunder during any
term of this Agreement with respect to, arising from, or arising in connection with this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to the Warrant Agent as
fees and charges, but not including reimbursable expenses. Notwithstanding anything in this Agreement to the contrary, in no event shall the Warrant Agent be liable for special, punitive, incidental, indirect or consequential loss or damage of any
kind whatsoever (including but not limited to lost profits), even if the Warrant Agent has been advised of the likelihood of such loss or damage. 
 To secure the Company’s payment obligations under this Agreement, the Warrant Agent shall have a lien prior to the Holders on all money or property held or collected by the Warrant Agent. 

Section 5.06. Successor Warrant Agent. 
 (a) Company to Provide and Maintain Warrant Agent. The Company agrees for the benefit of the Holders that there shall at all times be a Warrant Agent hereunder until all the Warrants have been
exercised or cancelled or are no longer exercisable. 
 (b) Resignation and Removal. The Warrant Agent may at any time
resign by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall not be less than 60 days after the date
on which such notice is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an instrument in writing signed by or on behalf of the Company and specifying such removal and the
date when it shall become effective, which date shall not be less than 60 days after such notice is given unless the Warrant Agent otherwise agrees. Any removal under this Section shall take 

  
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effect upon the appointment by the Company as hereinafter provided of a successor Warrant Agent (which shall be (i) a bank or trust company organized under the laws of the United States of
America or one of the states thereof, authorized under the laws of the jurisdiction of its organization to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 (as set forth in its most recent reports of
condition published pursuant to law or to the requirements of any United States federal or state regulatory or supervisory authority) and having an office in the Borough of Manhattan, The City of New York, or (ii) an Affiliate of such Person
having an office in the Borough of Manhattan, The City of New York) and the acceptance of such appointment by such successor Warrant Agent. The obligations of the Company under Section 5.05 shall continue to the extent set forth herein
notwithstanding the resignation or removal of the Warrant Agent. 
 (c) Company to Appoint Successor. In the event that
at any time the Warrant Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted,
or under any other applicable Federal or State bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the
Warrant Agent or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such
action, or a decree or order for relief by a court having jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other
applicable Federal or State bankruptcy, insolvency or similar law, or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator
(or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or
liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent. In the event that a successor Warrant Agent is not appointed by the Company, a
successor Warrant Agent, qualified as aforesaid, may be appointed by the Warrant Agent or the Warrant Agent may petition a court to appoint a successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance by
the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder; provided, however, that in the event of the resignation of the Warrant Agent under this subsection (c), such resignation
shall be effective on the earlier of (i) the date specified in the Warrant Agent’s notice of resignation and (ii) the appointment and acceptance of a successor Warrant Agent hereunder. 

(d) Successor to Expressly Assume Duties. Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver
to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the rights and obligations of such
predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor
Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder. 

  
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 (e) Successor by Merger. Any Person into which the Warrant Agent hereunder may be
merged or consolidated, or any Person resulting from any merger or consolidation to which the Warrant Agent shall be a party, or any Person to which the Warrant Agent shall sell or otherwise transfer all or substantially all of its assets and
business, and such Person shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto; provided, however, that it shall be qualified
as aforesaid. 
 Section 5.07. Representations of the Company. The Company represents and warrants to the Warrant Agent
that: 
 (a) the Company has been duly organized and is validly existing under the laws of the jurisdiction of its
incorporation; 
 (b) this Agreement has been duly authorized, executed and delivered by the Company and is enforceable against
the Company in accordance with its terms, except as may be limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting the enforcement of creditors’ rights generally; and 

(c) the execution and delivery of this Agreement does not, and the issuance of the Warrants in accordance with the terms of this
Agreement and the Warrant Certificate will not, (i) violate the Company’s certificate of incorporation or by-laws, (ii) violate any law or regulation applicable to the Company or order or decree of any court or public authority having
jurisdiction over the Company, or (iii) result in a breach of any mortgage, indenture, contract, agreement or undertaking to which the Company is a party or by which it is bound, except in the case of (ii) and (iii) for any violations
or breaches that could not reasonably be expected to have a material adverse effect on the Company and its subsidiaries, taken as a whole. 
 ARTICLE VI 
 MISCELLANEOUS 

Section 6.01. Persons Benefitting. 
 Nothing in this Agreement is intended or shall be construed to confer upon any Person other than the Company, the Warrant Agent and the Holders any right, remedy or claim under or by reason of this
Agreement or any part hereof. 
 Section 6.02. Amendment. 

This Agreement and the Warrants may be amended by the parties hereto without the consent of any Holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein or therein or adding or changing any other provisions with respect to matters or questions arising under this Agreement or the

  
 17 

 
Warrants as the Company and the Warrant Agent may deem necessary or desirable; provided, however, that such action shall not adversely affect the rights of any of the Holders in any
material respect. Any amendment or supplement to this Agreement or the Warrants that has a material adverse effect on the interests of any of the Holders or owners of a beneficial interest in a Global Warrant shall require the written consent of the
Holders of a majority of the then outstanding Warrants; provided that the consent of each Holder affected thereby shall be required for any amendment pursuant to which (i) the Exercise Price would be increased or the Warrant Share Number
would be decreased (in each case, other than pursuant to adjustments provided for in Section 12 of the Warrant Certificate), (ii) the time period during which the Warrants are exercisable would be shortened or (iii) any change adverse
to the Holder would be made to the anti-dilution provisions set forth in Article IV of this Agreement or Section 12 of the Warrant Certificate. In determining whether the Holders of the required number of Warrants have concurred in any
direction, waiver or consent, Warrants owned by the Company or by any Affiliate of the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Warrant Agent shall be protected in relying
on any such direction, waiver or consent, only Warrants that the Warrant Agent knows are so owned shall be so disregarded. Also, subject to the foregoing, only Warrants outstanding at the time shall be considered in any such determination. The
Warrant Agent shall have no duty to determine whether any such amendment would have an effect on the rights or interests of the holders of the Warrants. Upon receipt by the Warrant Agent of an Officer’s Certificate and an Opinion of Counsel,
each stating that all conditions precedent to the execution of the amendment have been complied with and such execution is permitted by this Agreement and the Warrant Certificate, the Warrant Agent shall join in the execution of such amendment;
provided, that the Warrant Agent may, but shall not be obligated to, execute any amendment or supplement which affects the rights or changes or increases the duties or obligations of the Warrant Agent. 

Section 6.03. Notices. 
 Any notice or communication shall be in writing and delivered in person or mailed by first-class mail addressed as follows: 
 if to the Company: 
 Webster Financial Corporation 

145 Bank Street 

Webster Plaza 

Waterbury, CT 06702 
 Telephone: (203) 578-2202 
 Facsimile: (203) 755-5539 

Attention: General Counsel 

  
 18 

 with a copy to: 
 Hogan Lovells US LLP 
 Columbia Square 

555 Thirteenth Street, NW 
 Washington, DC 20004 
 Telephone: 202-637-5600 

Facsimile: 202-637-5910 
 Attention: Stuart G. Stein 
 if to the Warrant Agent: 

Mellon Investor Services LLC 
 111 Founders Plaza, Suite 1100 
 East Hartford, CT 06108 

Attention: Margaret Lloyd 
 Telephone: 860-282-3515 
 Facsimile: 860-528-6472 

With a copy to: 
 Mellon Investor Services LLC 
 Newport Office Center VII 

480 Washington Blvd. 
 Jersey City, NJ 07310 
 Attn: Legal Department 

The Company or the Warrant Agent by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 Unless the Warrant is a Global Warrant, any notice or communication mailed to a Holder shall be mailed to the
Holder at the Holder’s address as it appears on the Registry and shall be sufficiently given if so mailed within the time prescribed. Any notice to the owners of a beneficial interest in a Global Warrant shall be distributed through the
Depositary in accordance with the procedures of the Depositary. Communications to such Holder shall be deemed to be effective at the time of dispatch to the Depositary. 
 Failure to provide 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 provided in the manner provided
above, it is duly given, whether or not the intended recipient actually receives it. 

  
 19 

 Section 6.04. Governing Law. 

This Agreement will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and
to be performed entirely within such State. 
 Section 6.05. Successors. 

All agreements of the Company in this Agreement and the Warrants shall bind its successors. All agreements of the Warrant Agent in this
Agreement shall bind its successors. 
 Section 6.06. Multiple Originals. 

The parties may sign any number of copies of this Agreement. Each signed copy shall be an original, but all of them together represent
the same agreement. One signed copy is enough to prove this Agreement. 
 Section 6.07. Inspection of Agreement.

 A copy of this Agreement shall be made available at all reasonable times for inspection by any registered Holder or owner of
a beneficial interest in a Global Warrant at office of the Warrant Agent (or successor warrant agent) designated for such purpose. 
 Section 6.08. Table of Contents. 
 The table of contents and headings of the
Articles and Sections of this Agreement 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 6.09. Severability. 
 The provisions of this Agreement are severable, and if any clause or provision shall be held invalid, illegal or unenforceable in whole or in part in any jurisdiction, then such invalidity or
unenforceability shall affect in that jurisdiction only such clause or provision, or part thereof, and shall not in any manner affect such clause or provision in any other jurisdiction or any other clause or provision of this Agreement in any
jurisdiction; provided, however, that if any such excluded clause or provision shall adversely affect the rights, immunities, duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign upon not less than 10 days
written notice to the Company. 
 Section 6.10. Customer Identification Program. 

Each Person that is a party hereto acknowledges that the Warrant Agent is subject to the customer identification program (“Customer
Identification Program”) requirements under the USA PATRIOT Act and its implementing regulations, and that the Warrant Agent must obtain, verify and record information that allows the Warrant Agent to identify each such Person. Accordingly,
prior to accepting an appointment hereunder, the Warrant Agent may request information from any such Person that will help the Warrant Agent to identify such Person, including without limitation, as applicable, such Person’s physical address,
tax identification 

  
 20 

 
number, organizational documents, certificate of good standing or license to do business. Each person or entity that is a party hereto agrees that the Warrant Agent cannot accept an appointment
hereunder unless and until the Warrant Agent verifies each such Person’s identity in accordance with the Customer Identification Program requirements. 
 [Remainder of this page intentionally left blank] 

  
 21 

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

			
	WEBSTER FINANCIAL CORPORATION
		
	by	 	 /s/ Gerald P. Plush

		 	Name: Gerald P. Plush
		 	Title: Vice Chairman and Chief Operating Officer
	
	 MELLON INVESTOR SERVICES LLC,
 as Warrant Agent,

		
	by	 	 /s/ Margaret Lloyd

		 	Name: Margaret Lloyd
		 	Title: Relationship Manager

  
 22 

 EXHIBIT A 
 FORM OF WARRANT 

 FORM OF WARRANT 

[Global Securities Legend] 
 UNLESS THIS GLOBAL WARRANT 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 WARRANT CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR 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. 
 TRANSFERS OF THIS GLOBAL WARRANT 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 WARRANT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE WARRANT AGREEMENT REFERRED TO ON THE REVERSE
HEREOF. 

  
 1 

 GLOBAL WARRANT 
 representing 
 WARRANTS 

to purchase 

Shares of 

Common Stock 

of 

WEBSTER FINANCIAL CORPORATION 
  

			
	No.     	  	CUSIP No: 947890 117

 1.
Definitions. Unless the context otherwise requires, when used herein the following terms shall have the meanings indicated. Any capitalized terms used but not defined herein that are defined in the Warrant Agreement shall have the meanings set forth
in the Warrant Agreement. 
 “Affiliate” means, with respect to any Person, any Person directly or indirectly
controlling, controlled by or under common control with, such other Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control
with”) when used with respect to any Person, means the possession, directly or indirectly, of the power to cause the direction of management and/or policies of such Person, whether through the ownership of voting securities by contract or
otherwise. 
 “Agent Members” means the securities brokers and dealers, banks and trust companies, clearing
organizations and certain other organizations that are participants in the Depositary’s system. 
 “Board of
Directors” means the board of directors of the Company, including any duly authorized committee thereof. 

“Business Combination” means a merger, consolidation, statutory share exchange or similar transaction that requires the
approval of the Company’s stockholders. 
 “business day” means any day except (i) Saturday, Sunday,
(ii) any day on which banking institutions in the State of New York are authorized or required by law or other governmental actions to close, and (ii) any time when the Warrants are listed on the New York Stock Exchange, any day on which
the New York Stock Exchange is authorized or required by law or other governmental actions to close. 
 “Capital
Stock” means (A) with respect to any Person that is a corporation or company, any and all shares, interests, participations or other equivalents (however designated) of capital or capital stock of such Person and (B) with respect
to any Person that is not a corporation or company, any and all partnership or other equity interests of such Person. 

  
 2 

 “Charter” means, with respect to any Person, its certificate or articles of
incorporation, articles of association, or similar organizational document. 
 “Common Stock” means the common
stock, par value $0.01 per share, of the Company. 
 “Company” means Webster Financial Corporation, a
corporation duly organized and existing under the laws of Delaware. 
 “Definitive Warrant” means a Warrant
Certificate in definitive form that is not deposited with the Depositary or with the Warrant Agent as custodian for the Depositary. 
 “Depositary” means The Depository Trust Company, its nominees and their respective successors. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder. 

“Exercise Price” means $18.28, subject to adjustment as set forth herein. 

“Expiration Time” has the meaning set forth in Section 3. 

“Fair Market Value” means, with respect to any security or other property, the fair market value of such security or
other property as determined by the Board of Directors, acting in good faith. 
 “Global Warrant” means a
Warrant Certificate in global form that is deposited with the Depositary or with the Warrant Agent as custodian for the Depositary. 
 “Governmental Entities” means, collectively, all United States and other governmental, regulatory or judicial authorities. 

“Issue Date” means November 21, 2008. 
 “Market Price” means, with respect to a particular security, on any given day, the last reported sale price regular way or, in case no such reported sale takes place on such day, the
average of the last closing bid and ask prices regular way, in either case on the principal national securities exchange on which the applicable securities are listed or admitted to trading, or if not listed or admitted to trading on any national
securities exchange, the average of the closing bid and ask prices as furnished by two members of the Financial Industry Regulatory Authority, Inc. selected from time to time by the Company for that purpose. “Market Price” shall be
determined without reference to after hours or extended hours trading. If such security is not listed and traded in a manner that the quotations referred to above are available for the period required hereunder, the Market Price per share of Common
Stock shall be deemed to be the fair market value per share of such security as determined in good faith by the Board of Directors in reliance on an opinion of a nationally recognized independent investment banking corporation retained by the
Company for this purpose; provided that if any such security is listed or traded on a non-U.S. market, such fair market value shall be determined by reference to the closing price of such security as of the end of the most recently ended
business day in such market prior to the date of 

  
 3 

 
determination; and further, provided that if making such determination requires the conversion of any currency other than U.S. dollars into U.S. dollars, such conversion shall be
done in accordance with customary procedures based on the rate for conversion of such currency into U.S. dollars displayed on the relevant page by Bloomberg L.P. (or any successor or replacement service) on or by 4:00 p.m., New York City time, on
such exercise date. For the purposes of determining the Market Price of the Common Stock on the “trading day” preceding, on or following the occurrence of an event, (i) that trading day shall be deemed to commence immediately after
the regular scheduled closing time of trading on the New York Stock Exchange or, if trading is closed at an earlier time, such earlier time and (ii) that trading day shall end at the next regular scheduled closing time, or if trading is closed
at an earlier time, such earlier time (for the avoidance of doubt, and as an example, if the Market Price is to be determined as of the last trading day preceding a specified event and the closing time of trading on a particular day is 4:00 p.m. and
the specified event occurs at 5:00 p.m. on that day, the Market Price would be determined by reference to such 4:00 p.m. closing price). 
 “Ordinary Cash Dividends” means a regular quarterly cash dividend on shares of Common Stock out of surplus or net profits legally available therefor (determined in accordance with U.S.
GAAP in effect from time to time), provided that Ordinary Cash Dividends shall not include any cash dividends paid subsequent to the Issue Date to the extent the aggregate per share dividends paid on the outstanding Common Stock in any
quarter exceed $0.30, as adjusted for any stock split, stock dividend, reverse stock split, reclassification or similar transaction. 
 “Person” has the meaning given to it in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act. 

“Per Share Fair Market Value” has the meaning set forth in Section 12(B). 

“Pro Rata Repurchases” means any purchase of shares of Common Stock by the Company or any Affiliate thereof pursuant to
(A) any tender offer or exchange offer subject to Section 13(e) or 14(e) of the Exchange Act or Regulation 14E promulgated thereunder or (B) any other offer available to substantially all holders of Common Stock, in the case of both
(A) and (B), whether for cash, shares of Capital Stock of the Company, other securities of the Company, evidences of indebtedness of the Company or any other Person or any other property (including, without limitation, shares of Capital Stock,
other securities or evidences of indebtedness of a subsidiary), or any combination thereof, effected while this Warrant Certificate is outstanding. The “Effective Date” of a Pro Rata Repurchase shall mean the date of acceptance of
shares for purchase or exchange by the Company under any tender or exchange offer which is a Pro Rata Repurchase or the date of purchase with respect to any Pro Rata Repurchase that is not a tender or exchange offer. 

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

“Securities Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations
promulgated thereunder. 
 “Shares” has the meaning set forth in Section 2. 

  
 4 

 “trading day” means (A) if the shares of Common Stock are not traded
on any national or regional securities exchange or association or over-the-counter market, a business day or (B) if the shares of Common Stock are traded on any national or regional securities exchange or association or over-the-counter market,
a business day on which such relevant exchange or quotation system is scheduled to be open for business and on which the shares of Common Stock (i) are not suspended from trading on any national or regional securities exchange or association or
over-the-counter market for any period or periods aggregating one half hour or longer; and (ii) have traded at least once on the national or regional securities exchange or association or over-the-counter market that is the primary market for
the trading of the shares of Common Stock. The term “trading day” with respect to any security other than the Common Stock shall have a correlative meaning based on the primary exchange or quotation system on which such security is listed
or traded. 
 “Transfer Agent” means The Bank of New York Mellon, as transfer agent of the Company, and any
successor transfer agent. 
 “U.S. GAAP” means United States generally accepted accounting principles.

 “Warrant” means a right to purchase a number of shares of the Company’s Common Stock equal to the
Warrant Share Number as provided herein. References herein to “Warrant” shall include the Global Warrant where the context requires. 
 “Warrant Agent” has the meaning set forth in Section 16. 

“Warrant Agreement” has the meaning set forth in Section 16. 

“Warrant Certificate” means a fully registered certificate evidencing Warrants. 

“Warrantholder” means a registered owner of Warrants as set forth in the Registry. 

“Warrant Share Number” means one share of Common Stock, as subsequently adjusted pursuant to the terms of this Warrant
and the Warrant Agreement. 
 2. Number of Shares; Exercise Price. This certifies that, for value received,
Cede & Co., and any of its registered assigns, is the registered owner of the number of Warrants set forth on Schedule A hereto, each of which entitles the Warrantholder to purchase from the Company, upon the terms and subject to the
conditions hereinafter set forth, a number of fully paid and nonassessable shares of Common Stock (each a “Share” and collectively the “Shares”) equal to the Warrant Share Number at a purchase price per share equal
to the Exercise Price. The Warrant Share Number and the Exercise Price are subject to adjustment as provided herein, and all references to “Warrant Share Number” and “Exercise Price” herein shall be deemed to include any such
adjustment or series of adjustments. 
 3. Exercise of Warrant; Term. Subject to Section 2, to the extent permitted
by applicable laws and regulations, all or a portion of the Warrants evidenced by this Warrant Certificate are exercisable by the Warrantholder, at any time or from time to time after the execution and delivery of this Warrant Certificate by the
Company on the date hereof, but in no 

  
 5 

 
event later than 5:00 p.m., New York City time on the tenth anniversary of the Issue Date (the “Expiration Time”), by (A) delivery to the Warrant Agent of a Notice of
Exercise in the form annexed hereto, duly completed and executed (or to the Company or to such other office or agency of the Company in the United States as the Company may designate by notice in writing to the Warrantholders pursuant to
Section 18), and (B) payment of the Exercise Price for the Shares thereby purchased by having the Company withhold, from the shares of Common Stock that would otherwise be delivered to such Warrantholder upon such exercise, Shares issuable
upon exercise of the Warrants so exercised equal in value to the aggregate Exercise Price as to such Shares, based on the Market Price of the Common Stock on the trading day on which such Warrants are exercised and the Notice of Exercise is
delivered to the Warrant Agent pursuant to this Section 3. For the avoidance of doubt, if Warrants are exercised such that the Exercise Price would exceed the value of the Shares issuable upon exercise, no amount shall be due and payable by the
Warrantholder to the Company. In the case of a Global Warrant, any person with a beneficial interest in such Global Warrant shall effect compliance with the requirements in clauses (A) and (B) above through the relevant Agent Member in
accordance with procedures of the Depositary. 
 In the case of a Global Warrant, whenever some but not all of the Warrants
represented by such Global Warrant are exercised in accordance with the terms thereof and of the Warrant Agreement, such Global Warrant shall be surrendered by the Warrantholder to the Warrant Agent, which shall cause an adjustment to be made to
Schedule A to such Global Warrant so that the number of Warrants represented thereby will be equal to the number of Warrants theretofor represented by such Global Warrant less the number of Warrants then exercised. The Warrant Agent shall thereafter
promptly return such Global Warrant to the Warrantholder or its nominee or custodian. In the case of a Definitive Warrant, whenever some but not all of the Warrants represented by such Definitive Warrant are exercised in accordance with the terms
thereof and of the Warrant Agreement, the Warrantholder shall be entitled, at the request of such Warrantholder, to receive from the Company within a reasonable time, not to exceed three business days, a new Definitive Warrant in substantially
identical form for the number of Warrants equal to the number of Warrants theretofor represented by such Definitive Warrant less the number of Warrants then exercised. 
 If this Warrant Certificate shall have been exercised in full, the Warrant Agent shall promptly cancel such certificate following its receipt from the Warrantholder or the Depositary, as applicable.

 Notwithstanding anything in this Warrant Certificate to the contrary, in the case of Warrants evidenced by a Global Warrant,
any Agent Member may, without the consent of the Warrant Agent or any other person, on its own behalf and on behalf of any beneficial owner for which it is acting, enforce, and may institute and maintain, any suit, action or proceeding against the
Company suitable to enforce, or otherwise in respect of, its right to exercise, and to receive Shares for, its Warrants as provided in the Global Warrant, and to enforce the Warrant Agreement. 

4. Issuance of Shares; Authorization; Listing. Shares issued upon exercise of Warrants evidenced by this Warrant Certificate shall
be (i) issued in such name or names as the exercising Warrantholder may designate and (ii) delivered by the Transfer Agent to such 

  
 6 

 
Warrantholder or its nominee or nominees (A) via book-entry transfer crediting the account of such Warrantholder (or the relevant Agent Member for the benefit of such Warrantholder) through
the Depositary’s DWAC system (if the Transfer Agent participates in such system), or (B) otherwise in certificated form by physical delivery to the address specified by the Warrantholder in the Notice of Exercise. The Company shall use its
commercially reasonable efforts to cause its Transfer Agent to be a participant in the Depositary’s DWAC system. The Company shall cause the number of full Shares to which such Warrantholder shall be entitled to be so delivered by the Transfer
Agent within a reasonable time, not to exceed three business days after the date on which Warrants evidenced by this Warrant Certificate have been duly exercised in accordance with the terms hereof. 

The Company hereby represents and warrants that any Shares issued upon the exercise of Warrants evidenced by this Warrant Certificate in
accordance with the provisions of Section 3 will be duly and validly authorized and issued, fully paid and nonassessable and free from all taxes, liens and charges (other than liens or charges created by a Warrantholder, income and franchise
taxes incurred in connection with the exercise of the Warrant or taxes in respect of any transfer occurring contemporaneously therewith). The Company agrees that the Shares so issued will be deemed to have been issued to a Warrantholder as of the
close of business on the date on which Warrants evidenced by this Warrant Certificate have been duly exercised, notwithstanding that the stock transfer books of the Company may then be closed or certificates representing such Shares may not be
actually delivered on such date. The Company will at all times until the Expiration Time (or, if such date shall not be a business day, then on the next succeeding business day) reserve and keep available, out of its authorized but unissued Common
Stock, solely for the purpose of providing for the exercise of Warrants evidenced by this Warrant Certificate, the aggregate number of shares of Common Stock then issuable upon exercise hereof at any time. The Company will (A) procure, at its
sole expense, the listing of the Shares issuable upon exercise hereof at any time, subject to issuance or notice of issuance, on all principal stock exchanges on which the Common Stock is then listed or traded and (B) maintain such listings of
such Shares at all times after issuance. The Company will use reasonable best efforts to ensure that the Shares may be issued without violation of any applicable law or regulation or of any requirement of any securities exchange on which the Shares
are listed or traded. 
 5. No Fractional Shares or Scrip. No fractional Shares or scrip representing fractional Shares
shall be issued upon any exercise of Warrants evidenced by this Warrant Certificate. In lieu of any fractional Share that would otherwise be issued to a Warrantholder upon the exercise of any Warrants, such Warrantholder shall be entitled to receive
a cash payment equal to the Market Price of the Common Stock on the trading day on which such warrants are exercised representing such fractional Share. The beneficial owners of the Warrants and the Warrantholder, by their acceptance hereof,
expressly waive their right to receive any fraction of a share of Common Stock or a certificate representing a fraction of a share of Common Stock or Warrant Certificate representing a fractional Warrant upon exercise of any Warrant. 

6. No Rights as Stockholders; Transfer Books. Warrants evidenced by this Warrant Certificate do not entitle the Warrantholder or
the owner of any beneficial interest in such Warrants to any voting rights or other rights as a stockholder of the Company prior to the date of exercise hereof. The Company will at no time close its transfer books against transfer of Warrants in any
manner which interferes with the timely exercise hereof. 

  
 7 

 7. Charges, Taxes and Expenses. Issuance of Shares in certificated or book-entry form
to the Warrantholder upon the exercise of Warrants evidenced by this Warrant Certificate shall be made without charge to the Warrantholder for any issue or transfer tax or other incidental expense in respect of the issuance of such Shares (other
than liens or charges created by a Warrantholder, income and franchise taxes incurred in connection with the exercise of the Warrant or taxes in respect of any transfer occurring contemporaneously therewith), all of which taxes and expenses shall be
paid by the Company. 
 8. Transfer/Assignment. This Warrant Certificate and all rights hereunder are transferable, in
whole or in part, upon the books of the Company (or an agent duly appointed by the Company) by the registered holder hereof in person or by duly authorized attorney, and one or more new Warrant Certificates shall be made and delivered by the
Company, of the same tenor and date as this Warrant Certificate but registered in the name of one or more transferees, upon surrender of this Warrant Certificate, duly endorsed, to the office or agency of the Company described in Section 3;
provided that if this Warrant Certificate is a Global Warrant registered in the name of the Depositary, transfers of such Global Warrant may only be made as a whole, and not in part, and only by (i) the Depositary to a nominee of the
Depositary, (ii) a nominee of the Depositary to the Depositary or another nominee of the Depositary or (iii) the Depositary or any such nominee to a successor Depositary or its nominee. All expenses (other than stock transfer taxes) and
other charges payable in connection with the preparation, execution and delivery of the new Warrant Certificates pursuant to this Section 8 shall be paid by the Company. 
 If this Warrant Certificate is a Global Warrant, then so long as the Global Warrant is registered in the name of the Depositary, the holders of beneficial interests in the Warrants evidenced thereby shall
have no rights under this Warrant Certificate with respect to the Global Warrant held on their behalf by the Depositary or the Warrant Agent as its custodian, and the Depositary may be treated by the Company, the Warrant Agent and any agent of the
Company or the Warrant Agent as the absolute owner of the Global Warrant for all purposes whatsoever except to the extent set forth herein. Accordingly, any such owner’s beneficial interest in the Global Warrant will be shown only on, and the
transfer of such interest shall be effected only through, records maintained by the Depositary or the Agent Members, and neither the Company nor the Warrant Agent shall have any responsibility with respect to such records maintained by the
Depositary or the Agent Members. Notwithstanding the foregoing, nothing herein shall (i) prevent the Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other
authorization furnished by the Depositary or (ii) impair, as between the Depositary and the Agent Members, the operation of customary practices governing the exercise of the rights of a holder of a beneficial interest in any Warrant. Except as
may otherwise be provided in this Warrant Certificate or the Warrant Agreement, the rights of beneficial owners in a Global Warrant shall be exercised through the Depositary subject to the applicable procedures of the Depositary. Any holder of the
Global Warrant shall, by acceptance of the Global Warrant, agree that transfers of beneficial interests in the Global Warrant may be effected only through a book-entry system maintained by the Depositary, and that ownership of a beneficial interest
in the Warrants represented thereby shall be required to be reflected in book-entry form. 

  
 8 

 A Global Warrant shall be exchanged for Definitive Warrants, and Definitive Warrants may be
transferred or exchanged for a beneficial interest in a Global Warrant, only at such times and in the manner specified in the Warrant Agreement. Subject to the provisions of the Warrant Agreement, the holder of a Global Warrant may grant proxies and
otherwise authorize any person, including Agent Members and persons that may hold beneficial interests in such Global Warrant through Agent Members, to take any action that a Warrantholder is entitled to take under a Warrant or the Warrant
Agreement. 
 9. Exchange and Registry of Warrants. This Warrant Certificate is exchangeable, upon the surrender hereof
by the Warrantholder to the Company, for a new Warrant Certificate or Warrant Certificates of like tenor and representing the same aggregate number of Warrants. The Company or an agent duly appointed by the Company (which initially shall be the
Warrant Agent) shall maintain a Registry showing the name and address of the Warrantholder as the registered holder of this Warrant Certificate. This Warrant Certificate may be surrendered for exchange or exercise in accordance with its terms, at
the office of the Company or any such agent, and the Company shall be entitled to rely in all respects, prior to written notice to the contrary, upon such Registry. 
 10. Loss, Theft, Destruction or Mutilation of Warrant Certificate. Upon receipt by the Company of proof reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
Certificate, and in the case of any such loss, theft or destruction, upon receipt of a bond, indemnity or security reasonably satisfactory to the Company and the Warrant Agent, or, in the case of any such mutilation, upon surrender and cancellation
of this Warrant Certificate, the Company shall make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of like tenor and representing the same aggregate number of Warrants as provided for
in such lost, stolen, destroyed or mutilated Warrant Certificate. 
 11. Saturdays, Sundays, Holidays, etc. If the last
or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a business day, then such action may be taken or such right may be exercised on the next succeeding day that is a business day.

 12. Adjustments and Other Rights. The Exercise Price and the Warrant Share Number shall be subject to adjustment from
time to time as follows; provided that if more than one subsection of this Section 12 is applicable to a single event, the subsection shall be applied that produces the largest adjustment and no single event shall cause an adjustment
under more than one subsection of this Section 12 so as to result in duplication: 
 (A) Stock Splits, Subdivisions,
Reclassifications or Combinations. If the Company shall (i) declare and pay a dividend or make a distribution on its Common Stock in shares of Common Stock, (ii) subdivide or reclassify the outstanding shares of Common Stock into a
greater number of shares, or (iii) combine or reclassify the outstanding shares of Common Stock into a smaller number of shares, the Warrant Share Number at the time of the record date for such dividend or distribution or the effective date of
such subdivision, combination or 

  
 9 

 
reclassification shall be proportionately adjusted so that the holder of a Warrant after such date shall be entitled to purchase the number of shares of Common Stock which such holder would have
owned or been entitled to receive in respect of the Warrant Share Number had such Warrant been exercised immediately prior to such date. In such event, the Exercise Price in effect immediately prior to the record date for such dividend or
distribution or the effective date of such subdivision, combination or reclassification shall be adjusted by multiplying such Exercise Price by the quotient of (x) the Warrant Share Number immediately prior to such adjustment divided by
(y) the new Warrant Share Number determined pursuant to the immediately preceding sentence. 
 (B) Other
Distributions. In case the Company shall fix a record date for the making of a distribution to all holders of shares of its Common Stock of securities, evidences of indebtedness, assets, cash, rights or warrants (excluding Ordinary Cash
Dividends, dividends of its Common Stock and other dividends or distributions referred to in Section 12(A)), in each such case, the Exercise Price in effect prior to such record date shall be reduced immediately thereafter to the price
determined by multiplying the Exercise Price in effect immediately prior to the reduction by the quotient of (x) the Market Price of the Common Stock on the last trading day preceding the first date on which the Common Stock trades regular way
on the principal national securities exchange on which the Common Stock is listed or admitted to trading without the right to receive such distribution, minus the amount of cash and/or the Fair Market Value of the securities, evidences of
indebtedness, assets, rights or warrants to be so distributed in respect of one share of Common Stock (such subtracted amount and/or Fair Market Value, the “Per Share Fair Market Value”) divided by (y) such Market Price on such
date specified in clause (x); such adjustment shall be made successively whenever such a record date is fixed. In such event, the Warrant Share Number shall be increased to the number obtained by multiplying the Warrant Share Number immediately
prior to such adjustment by the quotient of (x) the Exercise Price in effect immediately prior to the distribution giving rise to this adjustment divided by (y) the new Exercise Price determined in accordance with the immediately preceding
sentence. In the case of adjustment for a cash dividend that is, or is coincident with, a regular quarterly cash dividend, the Per Share Fair Market Value would be reduced by the per share amount of the portion of the cash dividend that would
constitute an Ordinary Cash Dividend. In the event that such distribution is not so made, the Exercise Price and the Warrant Share Number then in effect shall be readjusted, effective as of the date when the Board of Directors determines not to
distribute such shares, evidences of indebtedness, assets, rights, cash or warrants, as the case may be, to the Exercise Price and the Warrant Share Number that would then be in effect if such record date had not been fixed. 

(C) Certain Repurchases of Common Stock. In case the Company effects a Pro Rata Repurchase of Common Stock, then the Exercise
Price shall be reduced to the price determined by multiplying the Exercise Price in effect immediately prior to the Effective Date of such Pro Rata Repurchase by a fraction of which the numerator shall be (i) the product of (x) the number
of shares of Common Stock outstanding immediately before such Pro Rata Repurchase and (y) the Market Price of a share of Common Stock on the trading day immediately preceding the first public announcement by the Company or any of its Affiliates
of the intent to effect such Pro Rata Repurchase, minus (ii) the aggregate purchase price of the Pro Rata Repurchase, and of which the denominator shall be the product of (i) the number of shares of Common Stock outstanding 

  
 10 

 
immediately prior to such Pro Rata Repurchase minus the number of shares of Common Stock so repurchased and (ii) the Market Price per share of Common Stock on the trading day immediately
preceding the first public announcement by the Company or any of its Affiliates of the intent to effect such Pro Rata Repurchase. In such event, the Warrant Share Number shall be increased to the number obtained by multiplying the Warrant Share
Number immediately prior to such adjustment by the quotient of (x) the Exercise Price in effect immediately prior to the Pro Rata Repurchase giving rise to this adjustment divided by (y) the new Exercise Price determined in accordance with
the immediately preceding sentence. For the avoidance of doubt, no increase to the Exercise Price or decrease in the Warrant Share Number shall be made pursuant to this Section 12(C). 

(D) Business Combinations or Reclassifications of Common Stock. In case of any Business Combination or reclassification of Common
Stock (other than a reclassification of Common Stock referred to in Section 12(A)), a Warrantholder’s right to receive Shares upon exercise of a Warrant shall be converted into the right to exercise such Warrant to acquire the number of
shares of stock or other securities or property (including cash) which the Common Stock issuable (at the time of such Business Combination or reclassification) upon exercise of such Warrant immediately prior to such Business Combination or
reclassification would have been entitled to receive upon consummation of such Business Combination or reclassification; and in any such case, if necessary, the provisions set forth herein with respect to the rights and interests thereafter of the
Warrantholder shall be appropriately adjusted so as to be applicable, as nearly as may reasonably be, to such Warrantholder’s right to exercise a Warrant in exchange for any shares of stock or other securities or property pursuant to this
paragraph. In determining the kind and amount of stock, securities or the property receivable upon exercise of a Warrant following the consummation of such Business Combination, if the holders of Common Stock have the right to elect the kind or
amount of consideration receivable upon consummation of such Business Combination, then the consideration that a Warrantholder shall be entitled to receive upon exercise shall be deemed to be the types and amounts of consideration received by the
majority of all holders of the shares of Common Stock that affirmatively make an election (or of all such holders if none make an election). For purposes of determining any amount to be withheld pursuant to Section 3 from stock, securities or
the property that would otherwise be delivered to a Warrantholder upon exercise of Warrants following any Business Combination, the amount of such stock, securities or property to be withheld shall have a Market Price equal to the aggregate Exercise
Price as to which such Warrants are so exercised, based on the fair market value of such stock, securities or property on the trading day on which such Warrants are exercised and the Notice of Exercise is delivered to the Warrant Agent;
provided that in the case of any property that is not a security, the Market Price of such property shall be deemed to be its fair market value as determined in good faith by the Board of Directors in reliance on an opinion of a nationally
recognized independent investment banking firm retained by the Company for this purpose; and further, provided that if making such determination requires the conversion of any currency other than U.S. dollars into U.S. dollars, such
conversion shall be done in accordance with customary procedures based on the rate for conversion of such currency into U.S. dollars displayed on the relevant page by Bloomberg L.P. (or any successor or replacement service) on or by 4:00 p.m., New
York City time, on such exercise date. 

  
 11 

 (E) Rounding of Calculations; Minimum Adjustments. All calculations under this
Section 12 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one-hundredth (1/100th) of a share, as the case may be. Any provision of this Section 12 to the contrary notwithstanding, no adjustment in the
Exercise Price or the Warrant Share Number shall be made if the amount of such adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect
thereto shall be made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more, or on exercise
of a Warrant if it shall earlier occur. 
 (F) Timing of Issuance of Additional Common Stock Upon Certain Adjustments. In
any case in which the provisions of this Section 12 shall require that an adjustment shall become effective immediately after a record date for an event, the Company may defer until the occurrence of such event (i) issuing to a
Warrantholder of Warrants exercised after such record date and before the occurrence of such event the additional shares of Common Stock issuable upon such exercise by reason of the adjustment required by such event over and above the shares of
Common Stock issuable upon such exercise before giving effect to such adjustment and (ii) paying to such Warrantholder any amount of cash in lieu of a fractional share of Common Stock; provided, however, that the Company upon
request shall deliver to such Warrantholder a due bill or other appropriate instrument evidencing such Warrantholder’s right to receive such additional shares, and such cash, upon the occurrence of the event requiring such adjustment.

 (G) Other Events. Neither the Exercise Price nor the Warrant Share Number shall be adjusted in the event of a change
in the par value of the Common Stock or a change in the jurisdiction of incorporation of the Company. 
 (H) Statement
Regarding Adjustments. Whenever the Exercise Price or the Warrant Share Number shall be adjusted as provided in Section 12, the Company shall forthwith file at the principal office of the Company a statement showing in reasonable detail the
facts requiring such adjustment and the Exercise Price that shall be in effect and the Warrant Share Number after such adjustment. The Company shall deliver to the Warrant Agent a copy of such statement and shall cause a copy of such statement to be
sent or communicated to the Warrantholders pursuant to Section 18. 
 (I) Notice of Adjustment Event. In the event
that the Company shall propose to take any action of the type described in this Section 12 (but only if the action of the type described in this Section 12 would result in an adjustment in the Exercise Price or the Warrant Share Number or
a change in the type of securities or property to be delivered upon exercise of a Warrant), the Company shall deliver to the Warrant Agent a notice and shall cause such notice to be sent or communicated to the Warrantholders in the manner set forth
in Section 18, which notice shall specify the record date, if any, with respect to any such action and the approximate date on which such action is to take place. Such notice shall also set forth the facts with respect thereto as shall be
reasonably necessary to indicate the effect on the Exercise Price and the number, kind or class of shares or other securities or property which shall be deliverable upon exercise of a Warrant. In the case of any action which would require the fixing
of a record date, such notice shall be given at least 10 days prior to the date so fixed, and in case of all other action, such notice shall be given at least 15 days prior to the taking of such proposed action. Failure to give such notice, or any
defect therein, shall not affect the legality or validity of any such action. 

  
 12 

 (J) Proceedings Prior to Any Action Requiring Adjustment. As a condition precedent to
the taking of any action which would require an adjustment pursuant to this Section 12, the Company shall take any action which may be necessary, including obtaining regulatory, New York Stock Exchange, NASDAQ Stock Market or other applicable
national securities exchange or stockholder approvals or exemptions, in order that the Company may thereafter validly and legally issue as fully paid and nonassessable all Shares that a Warrantholder is entitled to receive upon exercise of a Warrant
pursuant to this Section 12. 
 (K) Adjustment Rules. Any adjustments pursuant to this Section 12 shall be made
successively whenever an event referred to herein shall occur. If an adjustment in Exercise Price made hereunder would reduce the Exercise Price to an amount below par value of the Common Stock, then such adjustment in Exercise Price made hereunder
shall reduce the Exercise Price to the par value of the Common Stock. 
 13. No Impairment. The Company will not, by
amendment of its Charter or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant Certificate and in taking of all such action as may be necessary or appropriate in order to protect
the rights of the Warrantholder. 
 14. Governing Law. This Warrant Certificate and the Warrants evidenced hereby
shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State. 
 15. Binding Effect; Countersignature by Warrant Agent. This Warrant Certificate shall be binding upon any successors or assigns of the Company. This Warrant Certificate shall not be valid until an
authorized signatory of the Warrant Agent (as defined below) or its agent as provided in the Warrant Agreement (as defined below) countersigns this Warrant Certificate. Such signature shall be solely for the purpose of authenticating this Warrant
Certificate and shall be conclusive evidence that this Warrant Certificate has been countersigned under the Warrant Agreement. 

16. Warrant Agreement; Amendments. This Warrant Certificate is issued under and in accordance with a Warrant Agreement dated as of
June 2, 2011 (the “Warrant Agreement”), between the Company and Mellon Investor Services LLC (the “Warrant Agent,” which term includes any successor Warrant Agent under the Warrant Agreement), and is subject to the
terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the beneficial owners of the Warrants and the Warrantholders consent by acceptance hereof. The Warrant Agreement is hereby incorporated herein by reference
and made a part hereof. Reference is hereby made to the Warrant Agreement for a statement of the respective rights, limitations of rights, duties and obligations of the Company, the Warrant Agent and the Warrantholders and beneficial owners of the
Warrants. A copy of the Warrant Agreement may 

  
 13 

 
be obtained for inspection by the Warrantholders or beneficial owners of the Warrants upon request to the Warrant Agent at the address of the Warrant Agent (or successor warrant agent) set forth
in the Warrant Agreement. The Warrant Agreement and this Warrant Certificate may be amended and the observance of any term of the Warrant Agreement or this Warrant Certificate may be waived only to the extent provided in the Warrant Agreement.

 17. Prohibited Actions. 
 The Company agrees that it will not take any action which would entitle the Warrantholder to an adjustment of the Exercise Price if the total number of shares of Common Stock issuable after such action
upon exercise of the Warrants evidenced by this Warrant Certificate, together with all shares of Common Stock then outstanding and all shares of Common Stock then issuable upon the exercise of all outstanding options, warrants, conversion and other
rights, would exceed the total number of shares of Common Stock then authorized by its Charter. 
 18. Notices. Unless
this Warrant Certificate is a Global Warrant, any notice or communication mailed to the Warrantholder shall be mailed to the Warrantholder at the Warrantholder’s address as it appears in the Registry and shall be sufficiently given if so mailed
within the time prescribed. Any notice to holders of a beneficial interest in a Global Warrant shall be distributed through the Depositary in accordance with the procedures of the Depositary. Communications to such holders shall be deemed to be
effective at the time of dispatch to the Depositary. 
 [Remainder of page intentionally left blank] 

  
 14 

 IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed by a
duly authorized officer. This Warrant Certificate shall not be valid or obligatory for any purpose until it shall have been countersigned by the Warrant Agent. 
 Dated:                      

 

					
	WEBSTER FINANCIAL CORPORATION
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 Countersigned: 
  

			
	 MELLON INVESTOR SERVICES LLC,
 as Warrant Agent

		
	By:	 	  

		 	Authorized Signatory

  
 15 

 Schedule A to Global Warrant 

The initial number of Warrants represented by the Global Warrant is 3,282,276. 

The following decreases in the number of Warrants represented by this Global Warrant have been made as a result of the exercise of
certain Warrants represented by this Global Warrant: 
  

							
	 Date of Exercise

of Warrants
	 	 Number of

Warrants Exercised
	 	 Total Number of Warrants
 Represented Hereby
 Following
Such Exercise
	 	 Notation Made

by Warrant Agent

  
 1 

 Form of Notice of Exercise 

(to be executed only upon exercise of Warrants) 
 Date:              
  

	TO:	Webster Financial Corporation (the “Company”) 

  

	RE:	Election to Purchase Common Stock 

 The undersigned registered holder of [                    ] Warrants irrevocably elects to
exercise the number of Warrants set forth below represented by the Global Warrant (or, in the case of a Definitive Warrant, the Warrant Certificate enclosed herewith), and surrenders all right, title and interest in the number of Warrants exercised
hereby to the Company, and directs that the shares of Common Stock or other securities or property delivered upon exercise of such Warrants, and any interests in the Global Warrant or Definitive Warrant representing unexercised Warrants, be
registered or placed in the name and at the address specified below and delivered thereto. 
  

					
	Number of Warrants	 	  
	 	

  

			
	Holder:	 	  

	By:	 	  

	Name:	 	  

	Title:	 	  

 Signature guaranteed by (if a guarantee is required): 
  

			
	 	 	

  
 1 

 Securities and/or check to be issued to: 
 If in book-entry form through the Depositary: 
  

			
	Depositary Account Number:	 	  

		
	Name of Agent Member:	 	  

 If in definitive form: 
  

			
	Social Security Number or Other Identifying Number:	 	  

		
	Name:	 	  

		
	Street Address:	 	  

		
	City, State and Zip Code:	 	  

 Any unexercised Warrants evidenced by the exercising Warrantholder’s interest in the Global Warrant or Definitive Warrant, as the case may be, to be issued to: 

If in book-entry form through the Depositary: 
  

			
	Depositary Account Number:	 	  

		
	Name of Agent Member:	 	  

 If in definitive form: 
  

			
	Social Security Number or Other Identifying Number:	 	  

		
	Name:	 	  

		
	Street Address:	 	  

		
	City, State and Zip Code:	 	  

  
 2 

 Form of Assignment 

For value received, the undersigned registered Warrantholder of the within Warrant Certificate hereby sells, assigns and transfers unto
the Assignee(s) named below (including the undersigned with respect to any Warrants constituting a part of the Warrants evidenced by the within Warrant Certificate not being assigned hereby) all of the right, title and interest of the undersigned
under the within Warrant Certificate with respect to the number of Warrants set forth below. 
  

							
	 Name of Assignees
	 	 Address
	 	 Number of Warrants
	 	 Social Security Number
 or other Identifying

Number

		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	

 and does irrevocably constitute and appoint
[                    ], the undersigned’s attorney, to make such transfer on the books of the Company maintained for the purpose, with
full power of substitution in the premises. 
 Dated: 

 

			
	Holder:	 	  

	By:	 	  

	Name:	 	  

	Title:	 	  

 Signature guaranteed by (if a guarantee is required): 
  

			
	 	  	

  
 3

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