Document:

EX-10.2

 Exhibit 10.2 

Dated May 11, 2017 

PLEDGE AND SECURITY AGREEMENT 

among 
 SAFEGUARD SCIENTIFICS,
INC. 
 EACH OF THE GRANTORS PARTY HERETO 

and 
 HPS INVESTMENT PARTNERS,
LLC 
 as Collateral Agent 

 TABLE OF CONTENTS 

 

					
	 PAGE
	  

	 SECTION 1. DEFINITIONS; GRANT OF SECURITY
	  	 	1	 
	 1.1 General Definitions
	  	 	1	 
	 1.2 Definitions; Interpretation
	  	 	6	 
		
	 SECTION 2. GRANT OF SECURITY
	  	 	6	 
	 2.1 Grant of Security
	  	 	6	 
	 2.2 Certain Limited Exclusions
	  	 	7	 
		
	 SECTION 3. SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE
	  	 	8	 
	 3.1 Security for Obligations
	  	 	8	 
	 3.2 Continuing Liability Under Collateral
	  	 	8	 
		
	 SECTION 4. CERTAIN PERFECTION REQUIREMENTS
	  	 	8	 
	 4.1 Delivery Requirements
	  	 	8	 
	 4.2 Control Requirements
	  	 	9	 
	 4.3 [Reserved]
	  	 	9	 
	 4.4 Other Actions
	  	 	9	 
	 4.5 Timing and Notice
	  	 	10	 
		
	 SECTION 5. REPRESENTATIONS AND WARRANTIES
	  	 	10	 
	 5.1 Grantor Information and Status
	  	 	10	 
	 5.2 Collateral Identification, Special Collateral
	  	 	11	 
	 5.3 Ownership of Collateral and Absence of Other Liens
	  	 	12	 
	 5.4 Status of Security Interest
	  	 	13	 
	 5.5 Goods and Receivables
	  	 	13	 
	 5.6 Pledged Equity Interests, Investment Related Property
	  	 	14	 
		
	 SECTION 6. COVENANTS AND AGREEMENTS.
	  	 	14	 
	 6.1 Grantor Information and Status
	  	 	14	 
	 6.2 Collateral Identification; Special Collateral
	  	 	15	 
	 6.3 Ownership of Collateral and Absence of Other Liens
	  	 	15	 
	 6.4 Status of Security Interest
	  	 	15	 
	 6.5 Goods and Receivables
	  	 	15	 
	 6.6 Pledged Equity Interests, Investment Related Property
	  	 	16	 
		
	 SECTION 7. FURTHER ASSURANCES; ADDITIONAL GRANTORS
	  	 	18	 
	 7.1 Further Assurances
	  	 	18	 
	 7.2 Additional Grantors
	  	 	19	 
		
	 SECTION 8. COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT.
	  	 	19	 
	 8.1 Power of Attorney
	  	 	19	 
	 8.2 No Duty on the Part of Collateral Agent or Secured Parties
	  	 	20	 
	 8.3 Appointment Pursuant to Loan Agreement
	  	 	20	 
		
	 SECTION 9. REMEDIES
	  	 	20	 
	 9.1 Generally
	  	 	20	 

  
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	 9.2 Application of Proceeds
	  	 	22	 
	 9.3 Sales on Credit
	  	 	22	 
	 9.4 Investment Related Property
	  	 	22	 
	 9.5 Cash Proceeds; Deposit Accounts
	  	 	23	 
		
	 SECTION 10. COLLATERAL AGENT
	  	 	23	 
		
	 SECTION 11. CONTINUING SECURITY INTEREST; TRANSFER OF LOANS
	  	 	23	 
		
	 SECTION 12. STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM
	  	 	24	 
		
	 SECTION 13. MISCELLANEOUS
	  	 	24	 

  
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 SCHEDULES AND EXHIBITS 

 

			
	Schedule 5.1	  	General Information
	Schedule 5.2	  	Collateral Identification
	Schedule 5.4	  	Financing Statements
		
	Exhibit A	  	Pledge Supplement
	Exhibit B	  	Securities Account Control Agreement
	Exhibit C	  	Deposit Account Control Agreement

  
 iii 

 This PLEDGE AND SECURITY AGREEMENT, dated as of May 11, 2017 (as it may be amended,
restated, supplemented or otherwise modified from time to time, this “Agreement”), between SAFEGUARD SCIENTIFICS, INC., a Pennsylvania corporation (“Borrower”) and each of the subsidiaries of the Borrower
party hereto from time to time, whether as an original signatory hereto or as an Additional Grantor (as herein defined) (each, including Borrower, a “Grantor”), and HPS INVESTMENT PARTNERS, LLC, as collateral agent for the
Secured Parties (as herein defined) (in such capacity as collateral agent, together with its successors and permitted assigns, the “Collateral Agent”). 

RECITALS: 

WHEREAS, reference is made to that certain Loan and Guaranty Agreement, dated as of the date hereof (as it may be amended, restated,
supplemented or otherwise modified from time to time, the “Loan Agreement”), by and among the Borrower, certain subsidiaries of the Borrower party thereto, as Guarantors, the lenders party thereto from time to time (the
“Lenders”), and HPS Investment Partners, LLC, as Administrative Agent and Collateral Agent; 
 WHEREAS, in
consideration of the extensions of credit and other accommodations of the Secured Parties as set forth in the Loan Agreement, each Grantor has agreed to secure such Grantor’s obligations under the Loan Documents as set forth herein; and 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and for other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, each Grantor and the Collateral Agent agree as follows: 

SECTION 1. DEFINITIONS; GRANT OF SECURITY. 

1.1 General Definitions. In this Agreement, the following terms shall have the following meanings: 

“Additional Grantors” shall have the meaning assigned in Section 7.2. 

“Agreement” shall have the meaning set forth in the preamble. 

“Borrower” shall have the meaning set forth in the recitals. 

“Cash Proceeds” shall have the meaning assigned in Section 9.5. 

“Collateral” shall have the meaning assigned in Section 2.1. 

“Collateral Agent” shall have the meaning set forth in the preamble. 

“Collateral Records” shall mean books, records, ledger cards, files, correspondence, customer lists, supplier lists,
blueprints, technical specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and other electronic storage media and related data processing software and similar items that at any time evidence or
contain information relating to any of the Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon. 

“Collateral Support” shall mean all property (real or personal) assigned, hypothecated or otherwise securing any Collateral
and shall include any security agreement or other agreement granting a lien or security interest in such real or personal property. 

  
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 “Control” shall mean: (1) with respect to any Deposit Accounts, control
within the meaning of Section 9-104 of the UCC, (2) with respect to any Securities Accounts, Security Entitlements, Commodity Contract or Commodity Account, control within the meaning of Section 9-106 of the UCC, (3) with respect to any Uncertificated Securities, control within the meaning of Section 8-106(c) of the UCC, (4) with respect to any
Certificated Security, control within the meaning of Section 8-106(a) or (b) of the UCC, (5) with respect to any Electronic Chattel Paper, control within the meaning of
Section 9-105 of the UCC, (6) with respect to Letter of Credit Rights, control within the meaning of Section 9-107 of the UCC and (7) with respect to
any “transferable record” (as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant
jurisdiction), control within the meaning of Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect in the jurisdiction relevant to such
transferable record. 
 “Controlled Foreign Corporation” shall mean “controlled foreign corporation” as defined
in the Internal Revenue Code. 
 “Copyright Licenses” shall mean any and all agreements, licenses and covenants providing
for the granting of any right in or to any Copyright or otherwise providing for a covenant not to sue for infringement or other violation of any Copyright (whether such Grantor is licensee or licensor thereunder). 

“Copyrights” shall mean all United States, and foreign copyrights (whether or not the underlying works of
authorship have been published), including but not limited to copyrights in software and all rights in and to databases, all designs (including but not limited to industrial designs, Protected Designs within the meaning of 17 U.S.C. 1301 et. Seq.
and Community designs), and all Mask Works (as defined under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary interests, and termination rights, and, with respect to any and all
of the foregoing: (i) all registrations and applications therefor, (ii) all extensions and renewals thereof, (iii) the right to sue or otherwise recover for any past, present and future infringement or other violation thereof,
(iv) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages and proceeds of suit now or hereafter due and/or payable with respect thereto, and (v) all other rights of any
kind accruing thereunder or pertaining thereto throughout the world. 
 “Excluded Asset” shall mean any asset of any
Grantor excluded from the security interest hereunder by virtue of Section 2.2 hereof but only to the extent, and for so long as, so excluded thereunder. 

“Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership
or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities
convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any
date of determination. 
 “Grantors” shall have the meaning set forth in the preamble. 

  
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 “Insurance” shall mean (i) all insurance policies covering any or all of
the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies. 

“Intellectual Property” shall mean, the collective reference to all rights, priorities and privileges relating to
intellectual property, whether arising under the United States, multinational or foreign laws or otherwise, including without limitation, Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks, Trademark Licenses, Trade Secrets, and
Trade Secret Licenses, and the right to sue or otherwise recover for any past, present and future infringement, dilution, misappropriation, or other violation or impairment thereof, including the right to receive all Proceeds therefrom, including
without limitation license fees, royalties, income, payments, claims, damages and proceeds of suit, now or hereafter due and/or payable with respect thereto. 

“Investment Accounts” shall mean each of the Secured Accounts, Securities Accounts, Commodity Accounts and Deposit Accounts.

 “Investment Related Property” shall mean: (i) all “investment property” (as such term is defined in
Article 9 of the UCC) that is not an Excluded Asset and (ii) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity Interests, Pledged Debt, the Investment Accounts and certificates of
deposit. 
 “Lenders” shall have the meaning set forth in the recitals. 

“Loan Agreement” shall have the meaning set forth in the recitals. 

“Material Action” shall mean (i) to file any insolvency or reorganization case or proceeding, to institute proceedings
to have any Grantor be adjudicated bankrupt or insolvent, to institute proceedings under any applicable insolvency law, to seek any relief under any law relating to relief from debts or the protection of debtors, to consent to the filing or
institution of bankruptcy or insolvency proceedings against any Grantor, or to file a petition seeking, or consent to, reorganization, liquidation or relief with respect to any Grantor under any applicable federal or state law relating to
bankruptcy, reorganization or insolvency, (ii) to seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator, custodian, or any similar official of or for any Grantor or any part of its property, (iii) to
make any assignment for the benefit of creditors of any Grantor, (iv) to admit in writing any Grantor’s inability to pay its debts generally as they become due, (v) to merge, consolidate or combine any Grantor or any subsidiary of any
of them with any other entity, to dissolve or wind-up any Grantor, to sell, transfer or otherwise dispose of all or any material part of any Grantor’s assets or to approve any plan or agreement to engage
in any of the foregoing actions, except in each case as expressly permitted by the Loan Agreement or (vi) to take action in furtherance of any of the foregoing. 

“Patent Licenses” shall mean all agreements, licenses and covenants providing for the granting of any right in or to any
Patent or otherwise providing for a covenant not to sue for infringement or other violation of any Patent (whether such Grantor is licensee or licensor thereunder). 

“Patents” shall mean all United States and foreign patents and certificates of invention, or similar industrial property
rights, and applications for any of the foregoing, including, without limitation: (i) each patent and patent application required to be listed in Schedule 5.2(II) under the heading “Patents” (as such schedule may be amended or
supplemented from time to time), (ii) all reissues, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations thereof, (iii) all
patentable inventions and improvements thereto, (iv) the right to sue or otherwise recover for any past, present and future infringement or other violation thereof, (v) all Proceeds of the foregoing, including, without limitation, license
fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto, and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 

  
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 “Pledge Supplement” shall mean any supplement to this Agreement in substantially
the form of Exhibit A. 
 “Pledged Debt” shall mean all indebtedness for borrowed money owed to such Grantor,
whether or not evidenced by any Instrument, including, without limitation, all indebtedness described on Schedule 5.2(I) under the heading “Pledged Debt” (as such schedule may be amended or supplemented from time to time), issued by
the obligors named therein, the instruments, if any, evidencing such any of the foregoing, and all interest, cash, instruments and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in
exchange for any or all of the foregoing. 
 “Pledged Equity Interests” shall mean all Pledged Stock, Pledged LLC
Interests, Pledged Partnership Interests and any other participation or interests in any equity or profits of any business entity including, without limitation, any trust and all management rights relating to any entity whose Equity Interests are
included as Pledged Equity Interests. 
 “Pledged LLC Interests” shall mean all interests in any limited liability company
and each series thereof including, without limitation, all limited liability company interests listed on Schedule 5.2(I) under the heading “Pledged LLC Interests” (as such schedule may be amended or supplemented from time to time)
and the certificates, if any, representing such limited liability company interests and any interest of such Grantor on the books and records of such limited liability company or on the books and records of any Securities Intermediary pertaining to
such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of
such limited liability company interests and all rights as a member of the related limited liability company. 
 “Pledged
Partnership Interests” shall mean all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 5.2(I)
under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and
records of such partnership or on the books and records of any Securities Intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to
time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests and all rights as a partner of the related partnership. 

“Pledged Stock” shall mean all shares of capital stock owned by such Grantor, including, without limitation, all shares of
capital stock described on Schedule 5.2(I) under the heading “Pledged Stock” (as such schedule may be amended or supplemented from time to time), and the certificates, if any, representing such shares and any interest of such
Grantor in the entries on the books of the issuer of such shares or on the books of any Securities Intermediary pertaining to such shares, and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property
or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares. 

“Receivables” shall mean all rights to payment, whether or not earned by performance, for goods or other property sold,
leased, licensed, assigned or otherwise disposed of, or services rendered or to be rendered, including, without limitation all such rights constituting or evidenced by any Account, Chattel Paper, Instrument, General Intangible or Investment Related
Property, together with all of Grantor’s rights, if any, in any goods or other property giving rise to such right to payment and all Collateral Support and Supporting Obligations related thereto and all Receivables Records. 

  
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 “Receivables Records” shall mean (i) all original copies of all documents,
instruments or other writings or electronic records or other Records evidencing the Receivables, (ii) all books, correspondence, credit or other files, Records, ledger sheets or cards, invoices, and other papers relating to Receivables,
including, without limitation, all tapes, cards, computer tapes, computer discs, computer runs, record keeping systems and other papers and documents relating to the Receivables, whether in the possession or under the control of Grantor or any
computer bureau or agent from time to time acting for Grantor or otherwise, (iii) all evidences of the filing of financing statements and the registration of other instruments in connection therewith, and amendments, supplements or other
modifications thereto, notices to other creditors, secured parties or agents thereof, and certificates, acknowledgments, or other writings, including, without limitation, lien search reports, from filing or other registration officers, (iv) all
credit information, reports and memoranda relating thereto and (v) all other written or non-written forms of information related in any way to the foregoing or any Receivable. 

“Secured Account” shall mean each account in respect of which the Collateral Agent has received a Control Agreement and has a
perfected security interest in accordance with this Agreement. 
 “Secured Obligations” shall have the meaning assigned in
Section 3.1. 
 “Trademark Licenses” shall mean any and all agreements, licenses and covenants
providing for the granting of any right in or to any Trademark or otherwise providing for a covenant not to sue for infringement dilution or other violation of any Trademark or permitting co-existence with
respect to a Trademark (whether such Grantor is licensee or licensor thereunder). 
 “Trademarks” shall mean all United
States, and foreign trademarks, trade names, trade dress, corporate names, company names, business names, fictitious business names, Internet domain names, service marks, certification marks, collective marks, logos, other source or business
identifiers, designs and general intangibles of a like nature, whether or not registered, and with respect to any and all of the foregoing: (i) all registrations and applications therefor, (ii) all extensions or renewals of any of the
foregoing, (iii) all of the goodwill of the business connected with the use of and symbolized by any of the foregoing, (iv) the right to sue or otherwise recover for any past, present and future infringement, dilution or other violation of
any of the foregoing or for any injury to the related goodwill, (v) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or
payable with respect thereto, and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 

“Trade Secret Licenses” shall mean any and all agreements providing for the granting of any right in or to Trade Secrets
(whether such Grantor is licensee or licensor thereunder). 
 “Trade Secrets” shall mean all trade secrets and all other
confidential or proprietary information and know-how whether or not the foregoing has been reduced to a writing or other tangible form, including all documents and things embodying, incorporating, or referring
in any way to the foregoing, and with respect to any and all of the foregoing: (i) the right to sue or otherwise recover for any past, present and future misappropriation or other violation thereof, (ii) all Proceeds of the foregoing,
including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto and (iii) all other rights of any kind accruing thereunder or pertaining
thereto throughout the world. 

  
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 “UCC” shall mean the Uniform Commercial Code as in effect from time to time in
the State of New York; provided, however, that in the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial
Code as enacted and in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions hereof
relating to such perfection, priority or remedies. 
 “United States” shall mean the United States of America. 

1.2 Definitions; Interpretation. 

(a) In this Agreement, the following capitalized terms shall have the meaning given to them in the UCC (and, if defined in more than one
Article of the UCC, shall have the meaning given in Article 9 thereof): Account, Account Debtor, As-Extracted Collateral, Bank, Certificated Security, Chattel Paper, Commercial Tort Claims, Commodity Account,
Commodity Contract, Commodity Intermediary, Consignee, Consignment, Consignor, Deposit Account, Document, Entitlement Order, Electronic Chattel Paper, Equipment, Farm Products, Fixtures, General Intangibles, Goods, Health-Care-Insurance Receivable,
Instrument, Inventory, Letter of Credit Right, Manufactured Home, Money, Payment Intangible, Proceeds, Record, Securities Account, Securities Intermediary, Security Certificate, Security Entitlement, Supporting Obligations, Tangible Chattel Paper
and Uncertificated Security. 
 (b) All other capitalized terms used herein (including the preamble and recitals hereto) and not otherwise
defined herein shall have the meanings ascribed thereto in the Loan Agreement. The incorporation by reference of terms defined in the Loan Agreement shall survive any termination of the Loan Agreement until this Agreement is terminated as provided
in Section 11 hereof. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Section, Appendix, Schedule or
Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the word “include” or “including”, when following any general statement,
term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not
non-limiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other
items or matters that fall within the broadest possible scope of such general statement, term or matter. The terms lease and license shall include sub-lease and
sub-license, as applicable. If any conflict or inconsistency exists between this Agreement and the Loan Agreement, the Loan Agreement shall govern. All references herein to provisions of the UCC shall include
all successor provisions under any subsequent version or amendment to any Article of the UCC. 
 SECTION 2. GRANT OF SECURITY. 

2.1 Grant of Security. Each Grantor hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security interest
in and continuing lien on all of such Grantor’s right, title and interest in, to and under all personal property of such Grantor including, but not limited to the following, in each case whether now or hereafter existing or in which any Grantor
now has or hereafter acquires an interest and wherever the same may be located (all of which being hereinafter collectively referred to as the “Collateral”): 

  
 6 

 (a) Accounts; 

(b) Chattel Paper; 
 (c)
Documents; 
 (d) General Intangibles; 

(e) Goods (including, without limitation, Inventory and Equipment); 

(f) Instruments; 
 (g) Insurance;

 (h) Intellectual Property; 

(i) Investment Related Property (including, without limitation, Deposit Accounts); 

(j) Letter of Credit Rights; 
 (k)
Money; 
 (l) Receivables and Receivable Records; 

(m) Commercial Tort Claims now or hereafter described on Schedule 5.2; 

(n) to the extent not otherwise included above, all other personal property of any kind and all Collateral Records, Collateral Support and
Supporting Obligations relating to any of the foregoing; and 
 (o) to the extent not otherwise included above, all Proceeds, products,
accessions, rents and profits of or in respect of any of the foregoing. 
 2.2 Certain Limited Exclusions. Notwithstanding anything
herein to the contrary, in no event shall the Collateral include or the security interest granted under Section 2.1 hereof attach to (a) any lease, license, contract or agreement to which any Grantor is a party, and
any of its rights or interest thereunder, if and to the extent that a security interest is prohibited by or in violation of (i) any law, rule or regulation applicable to such Grantor, or (ii) a term, provision or condition of any such
lease, license, contract or agreement (unless such law, rule, regulation, term, provision or condition would be rendered ineffective with respect to the creation of the security interest hereunder pursuant to Sections
9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any
relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity); provided however that the Collateral shall include (and such security interest shall attach) immediately at such time as the
contractual or legal prohibition shall no longer be applicable and to the extent severable, shall attach immediately to any portion of such lease, license, contract or agreement not subject to the prohibitions specified in (i) or (ii) above;
provided further that the exclusions referred to in clause (a) of this Section 2.2 shall not include any Proceeds of any such lease, license, contract or agreement; (b) any of the outstanding capital
stock of a Controlled Foreign Corporation in excess of 66% of the voting power of all classes of capital stock of such Controlled Foreign Corporation entitled to vote; provided that immediately upon the amendment of the Internal Revenue Code
to allow the pledge of a greater percentage of the voting power of capital stock in a Controlled Foreign Corporation without adverse tax consequences, the Collateral shall include, and the security interest granted by each Grantor shall attach

  
 7 

 
to, such greater percentage of capital stock of each Controlled Foreign Corporation; (c) any
“intent-to-use” application for registration of a Trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a
“Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely during the period, if
any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application
under applicable federal law; (d) any Private Securities forming part of the Portfolio, or (e) any Miscellaneous Securities; provided that the exclusions referred to in clause (d) and (e) of this
Section 2.2 shall not include any Proceeds of any Private Securities forming part of the Portfolio or any Proceeds of any Miscellaneous Securities. 

SECTION 3. SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE. 

3.1 Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or
performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under
Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof)), of all Obligations (the “Secured Obligations”). 

3.2 Continuing Liability Under Collateral. Notwithstanding anything herein to the contrary, (i) each Grantor shall remain
liable for all obligations under the Collateral and nothing contained herein is intended or shall be a delegation of duties to the Collateral Agent or any other Secured Party, (ii) each Grantor shall remain liable under each of the agreements
included in the Collateral, including, without limitation, any agreements relating to Pledged Equity Interests, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof and
neither the Collateral Agent nor any Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the Collateral Agent nor any Secured
Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any rights under any agreement included in the Collateral, including, without
limitation, any agreements relating to Pledged Equity Interests, and (iii) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and
agreements included in the Collateral. 
 SECTION 4. CERTAIN PERFECTION REQUIREMENTS 

4.1 Delivery Requirements. 

(a) With respect to any Certificated Securities issued by any Loan Party included in the Collateral, each Grantor shall deliver to the
Collateral Agent the Security Certificates evidencing such Certificated Securities duly indorsed by an effective indorsement (within the meaning of Section 8-107 of the UCC), or accompanied by share
transfer powers or other instruments of transfer duly endorsed by such an effective endorsement, in each case, to the Collateral Agent or in blank. In addition, each Grantor shall cause any certificates evidencing any Pledged Equity Interests,
including, without limitation, any Pledged Partnership Interests or Pledged LLC Interests, to be similarly delivered to the Collateral Agent regardless of whether such Pledged Equity Interests constitute Certificated Securities. 

  
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 (b) With respect to any Instruments or Tangible Chattel Paper included in the Collateral, each
Grantor shall deliver to the Collateral Agent all such Instruments or Tangible Chattel Paper to the Collateral Agent duly indorsed in blank. 

4.2 Control Requirements. 

(a) With respect to any Deposit Accounts, Securities Accounts, Security Entitlements, Commodity Accounts and Commodity Contracts included in
the Collateral, each Grantor shall ensure that the Collateral Agent has Control thereof, subject to Section 6.4 of the Loan Agreement. With respect to any Securities Accounts or Securities Entitlements, such Control shall be accomplished by the
Grantor causing the Securities Intermediary maintaining such Securities Account or Security Entitlement to enter into an agreement substantially in the form of Exhibit B hereto (or such other agreement in form and substance reasonably
satisfactory to the Collateral Agent) pursuant to which the Securities Intermediary shall agree to comply with the Collateral Agent’s Entitlement Orders without further consent by such Grantor. With respect to any Deposit Account, subject to
Section 6.4 of the Loan Agreement, each Grantor shall cause the depositary institution maintaining such account to enter into an agreement substantially in the form of Exhibit C hereto (or such other agreement in form and substance
reasonably satisfactory to the Collateral Agent), pursuant to which the Bank shall agree to comply with the Collateral Agent’s instructions with respect to disposition of funds in the Deposit Account without further consent by such Grantor.
With respect to any Commodity Accounts or Commodity Contracts each Grantor shall cause Control in favor of the Collateral Agent in a manner reasonably acceptable to the Collateral Agent. 

(b) With respect to any Uncertificated Security included in the Collateral (other than any Uncertificated Securities credited to a Securities
Account), each Grantor shall cause the issuer of such Uncertificated Security to either (i) register the Collateral Agent as the registered owner thereof on the books and records of the issuer or (ii) execute an agreement in form and
substance reasonably satisfactory to the Collateral Agent, pursuant to which such issuer agrees to comply with the Collateral Agent’s instructions with respect to such Uncertificated Security without further consent by such Grantor. 

(c) With respect to any Letter of Credit Rights included in the Collateral (other than any Letter of Credit Rights constituting a Supporting
Obligation for a Receivable in which the Collateral Agent has a valid and perfected security interest), Grantor shall ensure that Collateral Agent has Control thereof by obtaining the written consent of each issuer of each related letter of credit
to the assignment of the proceeds of such letter of credit to the Collateral Agent. 
 (d) With respect to any Electronic Chattel Paper or
“transferable record” (as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant
jurisdiction) included in the Collateral, Grantor shall ensure that the Collateral Agent has Control thereof. 
 4.3 [Reserved]. 

4.4 Other Actions. 
 (a) If
any issuer of any Pledged Equity Interest (other than the BVI Subsidiary or any issuer of any Excluded Assets) is organized under a jurisdiction outside of the United States, each Grantor shall take such additional actions, including, without
limitation, causing the issuer to register the pledge on its books and records or making such filings or recordings, in each case as may be necessary or advisable, under the laws of such issuer’s jurisdiction to ensure the validity, perfection
and priority of the security interest of the Collateral Agent. 

  
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 (b) With respect to any Pledged Equity Interests included in the Collateral, if the Grantors own
less than 100% of the Equity Interests in any issuer of such Pledged Equity Interests, Grantors shall use their commercially reasonable efforts to obtain the consent of each other holder of partnership interest, limited liability company interests
or other Equity Interests in such issuer to the security interest of the Collateral Agent hereunder and following an Event of Default, the transfer of such Pledged Equity Interests to the Collateral Agent or its designee, and to the substitution of
the Collateral Agent or its designee as a shareholder, partner or member with all the rights and powers related thereto. Each Grantor consents to the grant by each other Grantor of a Lien in all Investment Related Property to the Collateral Agent
and without limiting the generality of the foregoing consents to the transfer of any Pledged Equity Interest to the Collateral Agent or its designee following an Event of Default and to the substitution of the Collateral Agent or its designee as a
shareholder in any company, as a partner in any partnership or as a member in any limited liability company with all the rights and powers related thereto. 

4.5 Timing and Notice. With respect to any Collateral in existence on the Effective Date, each Grantor shall comply with the
requirements of this Section 4 on the date hereof and, with respect to any Collateral hereafter owned or acquired, such Grantor shall comply with such requirements within ten (10) Business Days of Grantor acquiring
rights therein. Each Grantor shall promptly inform the Collateral Agent of its acquisition of any Collateral for which any action is required by this Section 4 (including, for the avoidance of doubt, the filing of any
applications for, or the issuance or registration of, any Patents, Copyrights or Trademarks). 
 SECTION 5. REPRESENTATIONS AND WARRANTIES. 

Each Grantor hereby represents and warrants, on the Effective Date, on the date of each Payment/Advance Form and on the Funding Date of each Advance, that:

 5.1 Grantor Information and Status. 

(a) Schedule 5.1(A) (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings:
(1) the exact full legal name of such Grantor as it appears on its respective certificate of incorporation or any other organization document, (2) the type of organization of such Grantor, (3) the jurisdiction of organization of such
Grantor, (4) the Federal Taxpayer Identification Number of such Grantor and (5) the organizational identification number of such Grantor, if any; 

(b) except as provided on Schedule 5.1(B) (as such schedule may be amended or supplemented from time to time), it has not changed its
name, jurisdiction of organization, chief executive office or sole place of business (or principal residence if such Grantor is a natural person) or its corporate structure in any way (e.g., by merger, consolidation, change in corporate form or
otherwise) and has not done business under any other name or any trade name; 
 (c) Schedule 5.1(C) (as such schedule may be amended
or supplemented from time to time) sets forth under the appropriate headings: (1) the address of the chief executive office or its sole place of business (or the principal residence if such Grantor is a natural person), (2) the mailing address
of each Grantor, if different from the location of the chief executive office, (3) the locations where each Grantor maintains any books and records and (4) all other places of business of each Grantor; 

  
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 (d) no security or lien instrument covering all or any part of its Collateral is on file in any
public office except such as may have been filed in favor of the Collateral Agent in connection with the Loan Documents and the instruments identified on Schedule 5.1(D) or evidencing Permitted Liens coming into existence after the date
hereof; 
 (e) such Grantor has been duly organized and is validly existing as an entity of the type as set forth opposite such
Grantor’s name on Part (A) of Schedule 5.1 solely under the laws of the jurisdiction as set forth opposite such Grantor’s name on Part (A) of Schedule 5.1 and remains duly existing as such. Such Grantor has not
filed any certificates of dissolution or liquidation, any certificates of domestication, transfer or continuance in any other jurisdiction; and 

(f) no Grantor is a “transmitting utility” (as defined in Section 9-102(a)(80) of the UCC).

 5.2 Collateral Identification, Special Collateral. 

(a) Schedule 5.2(A) (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings all of
such Grantor’s: (1) Pledged Equity Interests, (2) Pledged Debt, (3) Securities Accounts, (4) Deposit Accounts, (5) Commercial Tort Claims other than any Commercial Tort Claims having a value of less than Fifty Thousand
Dollars ($50,000) individually or Two Hundred and Fifty Thousand Dollars ($250,000) in the aggregate, and (6) Letter of Credit Rights for letters of credit; 

(b) Schedule 5.2(B) (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings:
(1) the locations where each Grantor maintains any of the Collateral and (2) the names and addresses of all persons or entities other than each Grantor, such as lessees, consignees, warehousemen or purchasers of Chattel Paper, which have
possession or are intended to have possession of any of the Collateral consisting of instruments, Chattel Paper, inventory or equipment; 

(c) except for those purchases, acquisitions and other transactions described in Schedule 5.2 (C) (as such schedule may be amended or
supplemented from time to time), all of the Collateral acquired in the last five (5) years has been originated by each Grantor in the ordinary course of business or consists of goods which have been acquired by such Grantor in the ordinary
course of business from a person in the business of selling goods of that kind; 
 (d) [reserved]; 

(e) attached hereto as Schedule 5.2(E)(i) (as such schedule may be amended or supplemented from time to time) is a list of all real
property owned or leased by each of the Grantors as of the Effective Date; 
 (f) attached hereto as Schedule 5.2(F) (as such schedule
may be amended or supplemented from time to time) is a true and correct chart showing the ownership relationship of the Grantors; 
 (g)
attached hereto as Schedule 5.2(G)(i) (as such schedule may be amended or supplemented from time to time) is a schedule setting forth all of the Patents and Trademarks registered with the United States Patent and Trademark Office or another
government office of the United States, any state or subdivision therein or the applicable governmental offices in any other applicable country 

  
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(excluding Excluded Assets) and owned by each Grantor, including the name of the registered owner and the registration number of each Patent and Trademark owned by each such Grantor. Attached
hereto as Schedule 5.2 (G)(ii) (as such schedule may be amended or supplemented from time to time) is a schedule setting forth all of the Copyrights registered with the United States Copyright Office or another government office of the United
States, any state or subdivision therein or the applicable governmental offices in any other applicable country (excluding Excluded Assets) owned by each Grantor, including the name of the registered owner and the registration number of each
Copyright owned by each such Grantor; 
 (h) attached hereto as Schedule 5.2(H)(i) (as such schedule may be amended or supplemented
from time to time) is a true and correct list of all promissory notes, instruments (other than checks to be deposited in the ordinary course of business), tangible chattel paper, electronic chattel paper and other evidence of indebtedness held by
each Grantor as of the Effective Date, the value of which is in excess of One Hundred Thousand Dollars ($100,000), stating if such instruments, chattel paper or other evidence of indebtedness is pledged under this Agreement; 

(i) except as described on Schedule 5.2(E)(ii) attached hereto (as such schedule may be amended or supplemented from time to time), no
Grantor has entered into any leases, subleases, tenancies, franchise agreements, licenses or other occupancy arrangements as owner, lessor, sublessor, licensor, franchisor or grantor with respect to any of the real property described on Schedule
5.2(E)(i); 
 (j) none of the Collateral constitutes, or is the Proceeds of, (1) Farm Products,
(2) As-Extracted Collateral, (3) Manufactured Homes, (4) Health-Care-Insurance Receivables; (5) timber to be cut, or (6) aircraft, aircraft engines, satellites, ships or railroad
rolling stock. No material portion of the collateral consists of motor vehicles or other goods subject to a certificate of title statute of any jurisdiction; 

(k) all information supplied by any Grantor with respect to any of the Collateral (taken as a whole) is accurate and complete in all material
respects; and 
 (l) not more than 10% of the value of all personal property included in the Collateral is located in any country other than
the United States. 
 5.3 Ownership of Collateral and Absence of Other Liens. 

(a) it owns the Collateral purported to be owned by it or otherwise has the rights it purports to have in each item of Collateral and, as to
all Collateral whether now existing or hereafter acquired, developed or created (including by way of lease or license), will continue to own or have such rights in each item of the Collateral (except as otherwise permitted by the Loan Agreement), in
each case free and clear of any and all Liens, rights or claims of all other Persons, including, without limitation, liens arising as a result of such Grantor becoming bound (as a result of merger or otherwise) as debtor under a security agreement
entered into by another Person other than any Permitted Liens; and 
 (b) other than any financing statements filed in favor of the
Collateral Agent, no effective financing statement, fixture filing or other instrument similar in effect under any applicable law covering all or any part of the Collateral is on file in any filing or recording office except for (x) financing
statements for which duly authorized proper termination statements have been delivered to the Collateral Agent for filing and (y) financing statements filed in connection with Permitted Liens. Other than the Collateral Agent and any automatic
control in favor of a Bank, Securities Intermediary or Commodity Intermediary maintaining a Deposit Account, Securities Account or Commodity Contract, no Person is in Control of any Collateral. 

  
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 5.4 Status of Security Interest. upon the filing of financing statements naming
each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended
or supplemented from time to time), the security interest of the Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in any jurisdiction will constitute a
valid, perfected, first priority Liens subject to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Collateral Agent Control over any Collateral is effective to establish the Collateral Agent’s Control of the
Collateral subject thereto; 
 (a) to the extent perfection or priority of the security interest therein is not subject to Article 9 of the
UCC, upon recordation of the security interests granted hereunder in Patents, Trademarks, Copyrights and exclusive Copyright Licenses in the applicable intellectual property registries, including but not limited to the United States Patent and
Trademark Office and the United States Copyright Office, the security interests granted to the Collateral Agent hereunder shall constitute valid, perfected, first priority Liens (subject to Permitted Liens); 

(b) no authorization, consent, approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory body or
any other Person is required for either (i) the pledge or grant by any Grantor of the Liens purported to be created in favor of the Collateral Agent hereunder or (ii) the exercise by Collateral Agent of any rights or remedies in respect of
any Collateral (whether specifically granted or created hereunder or created or provided for by applicable law), except (A) for the filings contemplated by clause (a) above and (B) as may be required, in connection with the
disposition of any Investment Related Property, by laws generally affecting the offering and sale of Securities; and 
 (c) each Grantor is
in compliance with its obligations under Section 4 hereof. 
 5.5 Goods and Receivables. 

(a) each Receivable (a) is and will be the legal, valid and binding obligation of the Account Debtor in respect thereof, representing an
unsatisfied obligation of such Account Debtor; (b) is and will be enforceable in accordance with its terms, in each case, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to, or limiting,
creditors’ rights generally or by equitable principles relating to enforceability; (c) is not and will not be subject to any credits, rights of recoupment, setoffs, defenses, taxes, counterclaims (except with respect to refunds, returns
and allowances in the ordinary course of business with respect to damaged merchandise); and (d) is and will be in compliance with all applicable laws, whether federal, state, local or foreign; and 

(b) none of the Account Debtors in respect of any Receivable in excess of Fifty Thousand Dollars ($50,000) individually or Two Hundred and
Fifty Thousand Dollars ($250,000) in the aggregate is the government of the United States, any agency or instrumentality thereof, any state or municipality or any foreign sovereign. No Receivable in excess of Fifty Thousand Dollars ($50,000)
individually or Two Hundred and Fifty Thousand Dollars ($250,000) in the aggregate requires the consent of the Account Debtor in respect thereof in connection with the security interest hereunder, except any consent which has been obtained; 

  
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 (c) no Goods now or hereafter produced by any Grantor and included in the Collateral have been or
will be produced in violation of the requirements of the Fair Labor Standards Act, as amended, or the rules and regulations promulgated thereunder; and 

5.6 Pledged Equity Interests, Investment Related Property. 

(a) it is the record and beneficial owner of the Pledged Equity Interests free of all Liens, rights or claims of other Persons , and there are
no outstanding warrants, options or other rights to purchase, or shareholder, voting trust or similar agreements outstanding with respect to, or property that is convertible into, or that requires the issuance or sale of, any Pledged Equity
Interests; 
 (b) no consent of any Person including any other general or limited partner, any other member of a limited liability company,
any other shareholder or any other trust beneficiary is necessary or desirable in connection with the creation, perfection or first priority status of the security interest of the Collateral Agent in any Pledged Equity Interests or the exercise by
the Collateral Agent of the voting or other rights provided for in this Agreement or the exercise of remedies in respect thereof except such as have been obtained; 

(c) all of the Pledged Equity Interests are or represent interests that by their terms provide that they are securities governed by the uniform
commercial code of an applicable jurisdiction; 
 (d) none of the Pledged Equity Interests are or represent interests in issuers that
(i) are registered as investment companies or (ii) are dealt in or traded on securities exchanges or markets; and 
 (e) the
Pledged Equity Interests constitute 100% of the outstanding Equity Interests in each applicable entity (except to the extent, and for so long as such Equity Interests are Excluded Assets). 

SECTION 6. COVENANTS AND AGREEMENTS. 
 Each
Grantor hereby covenants and agrees that: 
 6.1 Grantor Information and Status. 

(a) without limiting any prohibitions or restrictions on mergers or other transactions set forth in the Loan Agreement, it shall not change
such Grantor’s name, identity, sole place of business (or principal residence if such Grantor is a natural person), chief executive office, organizational identification number, type of organization or jurisdiction of organization unless it
shall have (a) notified the Collateral Agent in writing at least thirty (30) days prior to any such change or establishment, identifying such new proposed name, identity, sole place of business (or principal residence if such Grantor is a
natural person), chief executive office, jurisdiction of organization and providing such other information in connection therewith as the Collateral Agent may reasonably request and (b) taken all actions necessary or advisable to maintain the
continuous validity, perfection and the same priority of the Collateral Agent’s security interest in the Collateral granted or intended to be granted and agreed to hereby. In the case of any merger or consolidation, it shall take all actions
necessary or advisable to maintain the continuous validity, perfection and the same priority of the Collateral Agent’s security interest in the Collateral granted or intended to be granted and agreed to hereby including, without limitation,
executing and delivering to the Collateral Agent a completed Pledge Supplement together with all Supplements to Schedules thereto, upon completion of such merger or consolidation confirming the grant of the security interest hereunder. 

  
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 6.2 Collateral Identification; Special Collateral. 

(a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(j) hereof, it shall promptly notify the
Collateral Agent thereof in writing and take such actions and execute such documents and make such filings all at Grantor’s expense as the Collateral Agent may reasonably request in order to ensure that the Collateral Agent has a valid,
perfected, first priority security interest in such Collateral, subject to any Permitted Liens. 
 (b) in the event that it hereafter
acquires or has any Commercial Tort Claim in excess of Fifty Thousand Dollars ($50,000) individually or Two Hundred and Fifty Thousand Dollars ($250,000) in the aggregate, it shall deliver to the Collateral Agent a completed Pledge Supplement
together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims. 
 6.3 Ownership of Collateral and
Absence of Other Liens. 
 (a) except for the security interest created by this Agreement, it shall not create or suffer to exist any
Lien upon or with respect to any of the Collateral, other than Permitted Liens, and such Grantor shall defend the Collateral against all Persons at any time claiming any interest therein; 

(b) upon such Grantor or any officer of such Grantor obtaining knowledge thereof, it shall promptly notify the Collateral Agent in writing of
any event that may have a material adverse effect on the value of the Collateral or any portion thereof (except for any immaterial portion thereof), the ability of any Grantor or the Collateral Agent to dispose of the Collateral or any portion
thereof (except for any immaterial portion thereof), or the rights and remedies of the Collateral Agent in relation thereto, including, without limitation, the levy of any legal process against the Collateral or any portion thereof, or may otherwise
result in a Material Adverse Change; and 
 (c) it shall not sell, transfer or assign (by operation of law or otherwise) or exclusively
license to another Person any Collateral except as otherwise permitted by the Loan Agreement. 
 6.4 Status of Security Interest.

 (a) subject to the limitations set forth in subsection (b) of this Section 6.4, each Grantor shall
maintain the security interest of the Collateral Agent hereunder in all Collateral as valid, perfected, first priority Liens (subject to Permitted Liens). 

(b) Notwithstanding the foregoing, no Grantor shall be required to take any action to perfect any Collateral that can only be perfected by
(i) Control, (ii) foreign filings with respect to Intellectual Property, or (iii) filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title, in each case except as
and to the extent specified in Section 4 hereof. 
 6.5 Goods and Receivables. 

(a) it shall not deliver any Document evidencing any Equipment and Inventory to any Person other than the issuer of such Document to claim the
Goods evidenced therefor or the Collateral Agent; 

  
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 (b) it shall keep and maintain at its own cost and expense satisfactory and complete records of
the Receivables, including, but not limited to, the originals of all documentation with respect to all Receivables and records of all payments received and all credits granted on the Receivables, all merchandise returned and all other dealings
therewith; 
 (c) other than in the ordinary course of business (i) it shall not amend, modify, terminate or waive any provision of any
Receivable in any manner which could reasonably be expected to result in a Material Adverse Change; (ii) following and during the continuation of an Event of Default, such Grantor shall not (w) grant any extension or renewal of the time of
payment of any Receivable, (x) compromise or settle any dispute, claim or legal proceeding with respect to any Receivable for less than the total unpaid balance thereof, (y) release, wholly or partially, any Person liable for the payment
thereof, or (z) allow any credit or discount thereon; and 
 (d) the Collateral Agent shall have the right at any time to notify, or
require any Grantor to notify, any Account Debtor of the Collateral Agent’s security interest in the Receivables and any Supporting Obligation and, in addition, at any time following the occurrence and during the continuation of an Event of
Default, the Collateral Agent may: (i) direct the Account Debtors under any Receivables to make payment of all amounts due or to become due to such Grantor thereunder directly to the Collateral Agent; (ii) notify, or require any Grantor to
notify, each Person maintaining a lockbox or similar arrangement to which Account Debtors under any Receivables have been directed to make payment to remit all amounts representing collections on checks and other payment items from time to time sent
to or deposited in such lockbox or other arrangement directly to the Collateral Agent; and (iii) enforce, at the expense of such Grantor, collection of any such Receivables and to adjust, settle or compromise the amount or payment thereof, in
the same manner and to the same extent as such Grantor might have done. If the Collateral Agent notifies any Grantor that it has elected to collect the Receivables in accordance with the preceding sentence, any payments of Receivables received by
such Grantor shall be forthwith (and in any event within two (2) Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral Agent if required, in an account maintained under the sole
dominion and control of the Collateral Agent, and until so turned over, all amounts and proceeds (including checks and other instruments) received by such Grantor in respect of the Receivables, any Supporting Obligation or Collateral Support shall
be received in trust for the benefit of the Collateral Agent hereunder and shall be segregated from other funds of such Grantor and such Grantor shall not adjust, settle or compromise the amount or payment of any Receivable, or release wholly or
partly any Account Debtor or obligor thereof, or allow any credit or discount thereon. 
 6.6 Pledged Equity Interests, Investment
Related Property. 
 (a) except as provided in the next sentence, in the event such Grantor receives any dividends, interest or
distributions on any Pledged Equity Interest or other Investment Related Property upon the merger, consolidation, liquidation or dissolution of any issuer of any Pledged Equity Interest or Investment Related Property, then (a) such dividends,
interest or distributions and securities or other property shall be included in the definition of Collateral without further action and (b) such Grantor shall immediately take all steps, if any, necessary or advisable to ensure the validity,
perfection, priority and, if applicable, control of the Collateral Agent over such Investment Related Property (including, without limitation, delivery thereof to the Collateral Agent) and pending any such action such Grantor shall be deemed to hold
such dividends, interest, distributions, securities or other property in trust for the benefit of the Collateral Agent and shall segregate such dividends, distributions, Securities or other property from all other property of such Grantor.
Notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, the Collateral Agent authorizes each Grantor to retain all ordinary cash dividends and distributions paid in the normal course of the business of
the issuer and consistent with the past practice of the issuer and all scheduled payments of interest; 

  
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 (b) Voting. 

(i) So long as no Event of Default shall have occurred and be continuing, except as otherwise provided under the covenants and
agreements relating to Investment Related Property in this Agreement or elsewhere herein or in the Loan Agreement, each Grantor shall be entitled to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the
Investment Related Property or any part thereof for any purpose not inconsistent with the terms of this Agreement or the Loan Agreement; and 

(ii) Upon the occurrence and during the continuation of an Event of Default and upon prior written notice from the Collateral
Agent to such Grantor of the Collateral Agent’s intention to exercise such rights: 
  

	 	(1)	all or any of the rights of each Grantor to exercise or refrain from exercising the voting and other consensual rights which it would otherwise be entitled to exercise pursuant hereto shall, to the extent specified in
such notice, cease and all such rights shall thereupon become vested in the Collateral Agent who shall thereupon have the sole right to exercise such voting and other consensual rights; and 

 

	 	(2)	in order to permit the Collateral Agent to exercise the voting and other consensual rights which it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions which it may be
entitled to receive hereunder: (1) each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Agent all proxies, dividend payment orders and other instruments as the Collateral Agent may from time
to time reasonably request and (2) each Grantor acknowledges that the Collateral Agent may utilize the power of attorney set forth in Section 8.1. 

(iii) From and after the execution of this Agreement, the right to vote with respect to any Material Action shall be vested
exclusively in Collateral Agent until the payment in full of all Secured Obligations and the cancellation or termination of the Commitments. To this end, each Grantor hereby irrevocably constitutes and appoints Collateral Agent the proxy and attorney-in-fact of such Grantor, with full power of substitution, to vote, and to act with respect to, any and all Pledged Equity Interests standing in the name of such
Grantor or with respect to which such Grantor is entitled to vote and act, subject to the agreement that such proxy contained in this subsection (iii) may be exercised only with respect to Material Actions. The proxy herein granted is
coupled with an interest, is irrevocable, and shall continue until the payment in full of all Secured Obligations and the cancellation or termination of the Commitments. 

(c) except as expressly permitted by the Loan Agreement, without the prior written consent of the Collateral Agent, it shall not vote to enable
or take any other action to: (i) amend or terminate any partnership agreement, limited liability company agreement, certificate of incorporation, by-laws or other organizational documents in any way that
materially changes the rights of such Grantor with respect to any Investment Related Property or adversely affects the validity, perfection or priority of the Collateral Agent’s security interest, (ii) permit any issuer of any Pledged
Equity Interest to issue any additional stock, partnership interests, limited liability company interests or other Equity Interests of any nature or to issue securities convertible into or granting the right of purchase or exchange for any stock or
other Equity Interest of any nature of such issuer, (iii) other than as permitted 

  
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under the Loan Agreement, permit any issuer of any Pledged Equity Interest to dispose of all or a material portion of their assets, (iv) waive any default under or breach of any terms of
organizational document relating to the issuer of any Pledged Equity Interest or the terms of any Pledged Debt, or (v) cause any issuer of any Pledged Partnership Interests or Pledged LLC Interests which are not securities (for purposes of the
UCC) on the date hereof to elect or otherwise take any action to cause such Pledged Partnership Interests or Pledged LLC Interests to be treated as securities for purposes of the UCC; provided, however, notwithstanding the foregoing,
if any issuer of any Pledged Partnership Interests or Pledged LLC Interests takes any such action in violation of the foregoing in this clause (c), such Grantor shall promptly notify the Collateral Agent in writing of any such election or action
and, in such event, shall take all steps necessary or advisable to establish the Collateral Agent’s “control” thereof; and 

(d) except as expressly permitted by the Loan Agreement, without the prior written consent of the Collateral Agent, it shall not permit any
issuer of any Pledged Equity Interest to merge or consolidate unless (i) such issuer creates a security interest that is perfected by a filed financing statement (that is not effective solely under section
9-508 of the UCC) in collateral in which such new debtor has or acquires rights, (ii) all the outstanding capital stock or other Equity Interests of the surviving or resulting corporation, limited
liability company, partnership or other entity is, upon such merger or consolidation, pledged hereunder and no cash, securities or other property is distributed in respect of the outstanding Equity Interests of any other constituent Grantor and
(iii) Grantor promptly complies with the delivery and control requirements of Section 4 hereof. 
 SECTION 7. FURTHER
ASSURANCES; ADDITIONAL GRANTORS. 
 7.1 Further Assurances. 

(a) Each Grantor agrees that from time to time, at the expense of such Grantor, that it shall promptly execute and deliver all further
instruments and documents, and take all further action, that may be necessary or desirable, or that the Collateral Agent may reasonably request, in order to create and/or maintain the validity, perfection or priority of and protect any security
interest granted or purported to be granted hereby or to enable the Collateral Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral. Without limiting the generality of the foregoing, each Grantor shall: 

(i) file such financing or continuation statements, or amendments thereto, record security interests in Intellectual Property
and execute and deliver such other agreements, instruments, endorsements, powers of attorney or notices, as may be necessary or desirable, or as the Collateral Agent may reasonably request, in order to effect, reflect, perfect and preserve the
security interests granted or purported to be granted hereby; 
 (ii) take all actions necessary to ensure the recordation of
appropriate evidence of the liens and security interest granted hereunder in any Intellectual Property with any intellectual property registry in which said Intellectual Property is registered or issued or in which an application for registration or
issuance is pending, including, without limitation, the United States Patent and Trademark Office, the United States Copyright Office, the various Secretaries of State, and the foreign counterparts on any of the foregoing; 

(iii) at any reasonable time, upon request by the Collateral Agent, assemble the Collateral and allow inspection of the
Collateral by the Collateral Agent, or persons designated by the Collateral Agent; 

  
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 (iv) at the Collateral Agent’s request, appear in and defend any action or
proceeding that may affect such Grantor’s title to or the Collateral Agent’s security interest in all or any part of the Collateral; and 

(v) furnish the Collateral Agent with such information regarding the Collateral, including, without limitation, the location
thereof, as the Collateral Agent may reasonably request from time to time. 
 (b) Each Grantor hereby authorizes the Collateral Agent to file
a Record or Records, including, without limitation, financing or continuation statements, and amendments and supplements to any of the foregoing, in any jurisdictions and with any filing offices as the Collateral Agent may determine, in its sole
discretion, are necessary or advisable to perfect or otherwise protect the security interest granted to the Collateral Agent herein. Such financing statements may describe the Collateral in the same manner as described herein or may contain an
indication or description of collateral that describes such property in any other manner as the Collateral Agent may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the
Collateral granted to the Collateral Agent herein, including, without limitation, describing such property as “all assets, whether now owned or hereafter acquired, developed or created” or words of similar effect. Each Grantor shall
furnish to the Collateral Agent from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Collateral Agent may reasonably request, all in reasonable
detail. 
 7.2 Additional Grantors. From time to time subsequent to the date hereof, additional Persons may become parties hereto as
additional Grantors (each, an “Additional Grantor”), by executing a Pledge Supplement. Upon delivery of any such Pledge Supplement to the Collateral Agent, notice of which is hereby waived by Grantors, each Additional Grantor shall
be a Grantor and shall be as fully a party hereto as if Additional Grantor were an original signatory hereto. Each Grantor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the addition or release of any
other Grantor hereunder, nor by any election of Collateral Agent not to cause any Subsidiary of Borrower to become an Additional Grantor hereunder. This Agreement shall be fully effective as to any Grantor that is or becomes a party hereto
regardless of whether any other Person becomes or fails to become a Grantor hereunder. 
 SECTION 8. COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT. 
 8.1 Power of Attorney. Each
Grantor hereby irrevocably appoints the Collateral Agent (such appointment being coupled with an interest) as such Grantor’s attorney-in-fact, with full authority
in the place and stead of such Grantor and in the name of such Grantor, the Collateral Agent or otherwise, from time to time in the Collateral Agent’s discretion to take any action and to execute any instrument that the Collateral Agent may
deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation, the following: 
 (a)
upon the occurrence and during the continuance of any Event of Default, to obtain and adjust insurance required to be maintained by such Grantor or paid to the Collateral Agent pursuant to the Loan Agreement; 

(b) upon the occurrence and during the continuance of any Event of Default, to ask for, demand, collect, sue for, recover, compound, receive
and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral; 

  
 19 

 (c) upon the occurrence and during the continuance of any Event of Default, to receive, endorse
and collect any drafts or other instruments, documents and Chattel Paper in connection with clause (b) above; 
 (d) upon the
occurrence and during the continuance of any Event of Default, to file any claims or take any action or institute any proceedings that the Collateral Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to
enforce the rights of the Collateral Agent with respect to any of the Collateral; 
 (e) to prepare and file any UCC financing statements
against such Grantor as debtor; 
 (f) to prepare, sign, and file for recordation in any intellectual property registry, appropriate evidence
of the lien and security interest granted herein in any Intellectual Property in the name of such Grantor as debtor; 
 (g) to take or cause
to be taken all actions necessary to perform or comply or cause performance or compliance with the terms of this Agreement, including, without limitation, access to pay or discharge taxes or Liens (other than Permitted Liens) levied or placed upon
or threatened against the Collateral, the legality or validity thereof and the amounts necessary to discharge the same to be determined by the Collateral Agent in its sole discretion, any such payments made by the Collateral Agent to become
obligations of such Grantor to the Collateral Agent, due and payable immediately without demand; and 
 (h) (i) upon the occurrence and
during the continuance of any Event of Default, generally to sell, transfer, lease, license, pledge, make any agreement with respect to or otherwise deal with or realize upon any of the Collateral as fully and completely as though the Collateral
Agent were the absolute owner thereof for all purposes, and (ii) do, at the Collateral Agent’s option and such Grantor’s expense, at any time or from time to time, all acts and things that the Collateral Agent deems reasonably
necessary to protect or preserve the Collateral and the Collateral Agent’s security interest therein in order to effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 

8.2 No Duty on the Part of Collateral Agent or Secured Parties. The powers conferred on the Collateral Agent hereunder are solely to
protect the interests of the Secured Parties in the Collateral and shall not impose any duty upon the Collateral Agent or any other Secured Party to exercise any such powers. The Collateral Agent and the other Secured Parties shall be accountable
only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except
for their own gross negligence or willful misconduct. 
 8.3 Appointment Pursuant to Loan Agreement. The Collateral Agent has been
appointed as collateral agent pursuant to the Loan Agreement. The rights, duties, privileges, immunities and indemnities of the Collateral Agent hereunder are subject to the provisions of the Loan Agreement. 

SECTION 9. REMEDIES. 
 9.1
Generally. 

  
 20 

 (a) If any Event of Default shall have occurred and be continuing, the Collateral Agent may
exercise in respect of the Collateral, in addition to all other rights and remedies provided for herein or in any other Loan Document (including, without limitations, in the Control Agreement or any other control agreements in effect from time to
time with respect to any Deposit Accounts or Securities Accounts) or otherwise available to it at law or in equity, all the rights and remedies of the Collateral Agent on default under the UCC (whether or not the UCC applies to the affected
Collateral) to collect, enforce or satisfy any Secured Obligations then owing, whether by acceleration or otherwise, and also may pursue any of the following separately, successively or simultaneously: 

(i) require any Grantor to, and each Grantor hereby agrees that it shall at its expense and promptly upon request of the
Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place to be designated by the Collateral Agent that is reasonably convenient to both parties;

 (ii) enter onto the property where any Collateral is located and take possession thereof with or without judicial process;

 (iii) prior to the disposition of the Collateral, store, process, repair or recondition the Collateral or otherwise
prepare the Collateral for disposition in any manner to the extent the Collateral Agent deems appropriate; and 
 (iv)
without notice except as specified below or under the UCC, sell, assign, lease, license (on an exclusive or nonexclusive basis) or otherwise dispose of the Collateral or any part thereof in one or more parcels at public or private sale, at any of
the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, at such time or times and at such price or prices and upon such other terms as the Collateral Agent may deem commercially reasonable. 

(b) The Collateral Agent or any other Secured Party may be the purchaser of any or all of the Collateral at any public or private (to the
extent the portion of the Collateral being privately sold is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations) sale in accordance with the UCC and the Collateral Agent, as
collateral agent for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale made in accordance
with the UCC, to use and apply any of the Secured Obligations as a credit on account of the purchase price for any Collateral payable by the Collateral Agent at such sale. Each purchaser at any such sale shall hold the property sold absolutely free
from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of
law or statute now existing or hereafter enacted. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least ten (10) days’ notice to such Grantor of the time and place of any public sale or the time after
which any private sale is to be made shall constitute reasonable notification. The Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or
private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor agrees that it would not be commercially
unreasonable for the Collateral Agent to dispose of the Collateral or any portion thereof by using Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or
that match buyers and sellers of assets. Each Grantor hereby waives any claims against the Collateral Agent arising by reason of the fact that 

  
 21 

 
the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if the Collateral Agent accepts the first
offer received and does not offer such Collateral to more than one offeree. If the proceeds of any sale or other disposition of the Collateral are insufficient to pay all the Secured Obligations, Grantors shall be liable for the deficiency and the
fees of any attorneys employed by the Collateral Agent to collect such deficiency. Each Grantor further agrees that a breach of any of the covenants contained in this Section 9.1(b) will cause irreparable injury to the Collateral Agent, that
the Collateral Agent has no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this Section 9.1(b) shall be specifically enforceable against such Grantor, and such Grantor hereby
waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no default has occurred giving rise to the Secured Obligations becoming due and payable prior to their stated
maturities. Nothing in this Section 9.1(b) shall in any way limit the rights of the Collateral Agent hereunder. 
 (c) The Collateral
Agent may sell the Collateral without giving any warranties as to the Collateral. The Collateral Agent may specifically disclaim or modify any warranties of title or the like. This procedure will not be considered to adversely affect the commercial
reasonableness of any sale of the Collateral. 
 (d) The Collateral Agent shall have no obligation to marshal any of the Collateral. 

9.2 Application of Proceeds. Except as expressly provided elsewhere in this Agreement, all proceeds received by the Collateral Agent in
the event that an Event of Default shall have occurred and not otherwise been waived, and the maturity of the Obligations shall have been accelerated pursuant to Section 9 of the Loan Agreement and in respect of any sale of, any collection
from, or other realization upon all or any part of the Collateral shall be applied in full or in part by the Collateral Agent against, the Secured Obligations in the order of priority set forth in Section 9.3(c)(ii) of the Loan Agreement. 

9.3 Sales on Credit. If Collateral Agent sells any of the Collateral upon credit, Grantor will be credited only with payments actually
made by purchaser and received by Collateral Agent and applied to indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, Collateral Agent may resell the Collateral and Grantor shall be credited with proceeds of
the sale. 
 9.4 Investment Related Property. Each Grantor recognizes that, by reason of certain prohibitions contained in the
Securities Act and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Investment Related Property conducted without prior registration or qualification of such Investment
Related Property under the Securities Act and/or such state securities laws, to limit purchasers to those who will agree, among other things, to acquire the Investment Related Property for their own account, for investment and not with a view to the
distribution or resale thereof. Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable than those obtainable through a public sale without such restrictions (including a public offering made pursuant to a
registration statement under the Securities Act) and, notwithstanding such circumstances, each Grantor agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral Agent shall have
no obligation to engage in public sales and no obligation to delay the sale of any Investment Related Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the
Securities Act or under applicable state securities laws, even if such issuer would, or should, agree to so register it. If the Collateral Agent determines to exercise its right to sell any or all of the Investment Related Property, upon written
request, each Grantor shall and shall cause each issuer of any Pledged Stock to be sold hereunder, each partnership and each limited liability company from time to time to furnish to the Collateral Agent all such information as the Collateral Agent
may request in order to 

  
 22 

 
determine the number and nature of interest, shares or other instruments included in the Investment Related Property which may be sold by the Collateral Agent in exempt transactions under the
Securities Act and the rules and regulations of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. 

9.5 Cash Proceeds; Deposit Accounts. (a) Each Grantor shall deposit and cause to be deposited all proceeds of any Collateral received
by it consisting of cash, checks and other near-cash items (collectively, “Cash Proceeds”) into a Secured Account. Upon the occurrence and during the continuance of any Event of Default, any Cash Proceeds received by the Collateral
Agent (whether from a Grantor or otherwise) may, in the sole discretion of the Collateral Agent, (A) be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether
matured or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations then due and owing. 

(b) If any Event of Default shall have occurred and be continuing, the Collateral Agent may apply the balance from any Deposit Account or
instruct the bank at which any Deposit Account is maintained to pay the balance of any Deposit Account to or for the benefit of the Collateral Agent. 

SECTION 10. COLLATERAL AGENT. 
 The
Collateral Agent has been appointed to act as Collateral Agent hereunder by each Lender and, by their acceptance of the benefits hereof, the other Secured Parties. The Collateral Agent shall be obligated, and shall have the right hereunder, to make
demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Collateral), solely in accordance with this Agreement and the
Loan Agreement. In furtherance of the foregoing provisions of this Section 10, each Secured Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the
Collateral hereunder, it being understood and agreed by such Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the benefit of Secured Parties in accordance with the terms of this
Section 10. The provisions of the Loan Agreement relating to the Collateral Agent including, without limitation, the provisions relating to resignation or removal of the Collateral Agent and the powers and duties and
immunities of the Collateral Agent are incorporated herein by this reference and shall survive any termination of the Loan Agreement. 
 SECTION 11.
CONTINUING SECURITY INTEREST; TRANSFER OF LOANS. 
 This Agreement shall create a continuing security interest in the Collateral and
shall remain in full force and effect until the payment in full of all Secured Obligations and the cancellation or termination of the Commitments, be binding upon each Grantor, its successors and assigns, and inure, together with the rights and
remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent and its successors, transferees and assigns. Without limiting the generality of the foregoing, but subject to the terms of the Loan Agreement, any Lender may assign
or otherwise transfer any Advances held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise. Upon the payment in full of all Secured
Obligations (other than Contingent Indemnity Obligations) and the cancellation or termination of the Commitments, the security interest granted hereby shall automatically terminate hereunder and of record and all the rights to the Collateral shall
revert to the Grantors. Upon any such termination the Collateral Agent shall, at the Grantors’ expense, execute and deliver to the Grantors or otherwise authorize the filing of such documents as the Grantors shall reasonably request, including
financing statement amendments to evidence such termination. Upon any disposition of property permitted by the Loan Agreement, the Liens granted herein shall be deemed to be automatically released and such property shall automatically revert

  
 23 

 
to the applicable Grantor with no further action on the part of any Person. The Collateral Agent shall, at the applicable Grantor’s expense, execute and deliver or otherwise authorize the
filing of such documents as such Grantor shall reasonably request, in form and substance reasonably satisfactory to the Collateral Agent, including financing statement amendments to evidence such release. 

SECTION 12. STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM. 

The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon
it to exercise any such powers. Except for the exercise of reasonable care in the custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any
Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation
of Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords its own property. Neither the Collateral Agent nor any of its directors, officers, employees or agents shall be
liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or otherwise. If any
Grantor fails to perform any agreement contained herein, the Collateral Agent may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Agent incurred in connection therewith shall be payable by each Grantor
under Section 10.16 of the Loan Agreement. 
 SECTION 13. MISCELLANEOUS. 

Any notice required or permitted to be given under this Agreement shall be given in accordance with Section 11 of the Loan Agreement. No
failure or delay on the part of the Collateral Agent in the exercise of any power, right or privilege hereunder or under any other Loan Document shall impair such power, right or privilege or be construed to be a waiver of any default or
acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other power, right or privilege. All rights and remedies existing under this Agreement and the
other Loan Documents are cumulative to, and not exclusive of, any rights or remedies otherwise available. In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. All covenants hereunder shall be given independent effect so
that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default
or an Event of Default if such action is taken or condition exists. This Agreement shall be binding upon and inure to the benefit of the Collateral Agent and the Grantors and their respective successors and assigns. No Grantor shall, without the
prior written consent of the Collateral Agent given in accordance with the Loan Agreement, assign any right, duty or obligation hereunder. This Agreement and the other Loan Documents embody the entire agreement and understanding between the Grantors
and the Collateral Agent and supersede all prior agreements and understandings between such parties relating to the subject matter hereof and thereof. Accordingly, the Loan Documents may not be contradicted by evidence of prior, contemporaneous or
subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties. This Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that
all signature pages are physically attached to the same document. 

  
 24 

 THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK. 
 ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY
HEREBY IRREVOCABLY ACCEPTS IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH LOAN PARTY HEREBY IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS AND IN ANY
SUCH ACTION OR PROCEEDING BY ANY MEANS PERMITTED BY APPLICABLE LAW, INCLUDING, WITHOUT LIMITATION, BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE BORROWER AT ITS ADDRESS FOR NOTICES AS SET FORTH IN SECTION
11 OF THE LOAN AGREEMENT, SUCH SERVICE TO BECOME EFFECTIVE TEN (10) DAYS AFTER SUCH MAILING. THE LOAN PARTIES AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY SECURED PARTY TO SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY LOAN PARTY
IN ANY OTHER JURISDICTION. EACH LOAN PARTY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE JURISDICTION OR LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY
SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY LOAN PARTY HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS
(WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, EACH LOAN PARTY HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS
AGREEMENT. 
 [SIGNATURE PAGES TO FOLLOW] 

  
 25 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this Agreement to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first written above. 
  

			
	 SAFEGUARD SCIENTIFICS, INC.,

as Grantor

	
	By:
                                        
                                    
	Name:	 	
	Title:	 	
	
	 SAFEGUARD SCIENTIFICS (DELAWARE), INC.,

as Grantor

	
	By:
                                        
                                    
	Name:	 	
	Title:	 	
	
	 SAFEGUARD DELAWARE, INC.,
 as
Grantor

	
	By:
                                        
                                    
	Name:	 	
	Title:	 	
	
	 SAFEGUARD TECHNOLOGIES, INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	

  
 26 

 
			
	 SFE PROPERTIES, INC.,
 as
Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	SAFEGUARD CAPITAL MANAGEMENT, INC., as Grantor
	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 SSI PARTNERSHIP HOLDINGS (PENNSYLVANIA), INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 SSI MANAGEMENT COMPANY, INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 SAFEGUARD FUND MANAGEMENT, INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	

  
 27 

 
			
	
	 SAFEGUARD DELAWARE II, INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 SAFEGUARD PM SPV, INC.,

as Grantor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 HPS INVESTMENT PARTNERS, LLC,

as Collateral Agent

	
	By:
                                         
                                   
	      Authorized Signatory

  

  
 28 

 EXHIBIT A 

TO PLEDGE AND SECURITY AGREEMENT 

PLEDGE SUPPLEMENT 
 This
PLEDGE SUPPLEMENT, dated [mm/dd/yy], is delivered by [NAME OF GRANTOR] a [NAME OF STATE OF INCORPORATION] [corporation] (the “Grantor”) pursuant to the Pledge and Security
Agreement, dated as of May 11, 2017 (as it may be from time to time amended, restated, modified or supplemented, the “Pledge and Security Agreement”), among Safeguard Scientifics, Inc., the other Grantors named
therein, and HPS Investment Partners, LLC, as the Collateral Agent. Capitalized terms used herein not otherwise defined herein shall have the meanings ascribed thereto in the Pledge and Security Agreement. 

Grantor hereby confirms the grant to the Collateral Agent set forth in the Pledge and Security Agreement of, and does hereby grant to the
Collateral Agent, a security interest in all of Grantor’s right, title and interest in, to and under all Collateral to secure the Secured Obligations, in each case whether now or hereafter existing or in which Grantor now has or hereafter
acquires an interest and wherever the same may be located. Grantor represents and warrants that the attached Supplements to Schedules accurately and completely set forth all additional information required to be provided pursuant to the Security
Agreement and hereby agrees that such Supplements to Schedules shall constitute part of the Schedules to the Security Agreement. 
 THIS
PLEDGE SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK. 
 ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS PLEDGE SUPPLEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, GRANTOR
HEREBY IRREVOCABLY ACCEPTS IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. GRANTOR HEREBY IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS AND IN ANY SUCH
ACTION OR PROCEEDING BY ANY MEANS PERMITTED BY APPLICABLE LAW, INCLUDING, WITHOUT LIMITATION, BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE BORROWER AT ITS ADDRESS FOR NOTICES AS SET FORTH IN SECTION 11 OF
THE LOAN AND GUARANTY AGREEMENT, SUCH SERVICE TO BECOME EFFECTIVE TEN (10) DAYS AFTER SUCH MAILING. THE LOAN PARTIES AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY
SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY SECURED PARTY TO SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY LOAN
PARTY IN ANY OTHER JURISDICTION. EACH LOAN PARTY HEREBY EXPRESSLY AND 

 
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE JURISDICTION OR LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH
COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY LOAN PARTY HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER
THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, GRANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS PLEDGE SUPPLEMENT.

 IN WITNESS WHEREOF, Grantor has caused this Pledge Supplement to be duly executed and delivered by its duly authorized officer
as of [mm/dd/yy]. 
  

			
	[NAME OF GRANTOR]
	
	By:
                                         
                                   
	Name:	 	
	Title:	 	

 EXHIBIT B 

TO PLEDGE AND SECURITY AGREEMENT 

SECURITIES ACCOUNT CONTROL AGREEMENT 

This Securities Account Control Agreement dated as of
[                ], 20[    ] (this “Agreement”) among
[                                ] (the “Debtor”), [HPS
Investment Partners, LLC], as collateral agent for the Secured Parties (together with its successors and assigns, the “Collateral Agent”) and
[                                ], in its capacity as a “securities
intermediary” as defined in Section 8-102 of the UCC (in such capacity, the “Securities Intermediary”). Capitalized terms used but not defined herein shall have the meaning assigned
thereto in the Pledge and Security Agreement, dated [as of the date hereof], among the Debtor, the other Grantors party thereto and the Collateral Agent (as amended, restated, supplemented or otherwise modified from time to time, the
“Pledge and Security Agreement”). All references herein to the “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York. 

Section 1. Establishment of Securities Account. The Securities Intermediary hereby confirms and agrees that: 

(a) The Securities Intermediary has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF
ACCOUNT]” (such account and any successor account, the “Securities Account”) and the Securities Intermediary shall not change the name or account number of the Securities Account without the prior written consent of the
Collateral Agent; 
 (b) All securities or other property underlying any financial assets credited to the Securities Account shall be
registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any financial asset
credited to the Securities Account be registered in the name of the Debtor, payable to the order of the Debtor or specially indorsed to the Debtor except to the extent the foregoing have been specially indorsed to the Securities Intermediary or in
blank; 
 (c) All property delivered to the Securities Intermediary pursuant to the Pledge and Security Agreement will be promptly credited
to the Securities Account; and 
 (d) The Securities Account is a “securities account” within the meaning of Section 8-501 of the UCC. 
 Section 2. “Financial Assets”
Election. The Securities Intermediary hereby agrees that each item of property (including, without limitation, any investment property, financial asset, security, instrument, general intangible or cash) credited to the Securities Account shall
be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC. 

Section 3. Control of the Securities Account. If at any time the Securities Intermediary shall receive any order
from the Collateral Agent directing transfer or redemption of any financial asset relating to the Securities Account, the Securities Intermediary shall comply with such entitlement order without further consent by the Debtor or any other person. If
the Debtor is otherwise entitled to issue entitlement orders and such orders conflict with any entitlement order issued by the Collateral Agent, the Securities Intermediary shall follow the orders issued by the Collateral Agent. 

 Section 4. Subordination of Lien; Waiver of
Set-Off. In the event that the Securities Intermediary has or subsequently obtains by agreement, by operation of law or otherwise a security interest in the Securities Account or any security entitlement
credited thereto, the Securities Intermediary hereby agrees that such security interest shall be subordinate to the security interest of the Collateral Agent. The financial assets and other items deposited to the Securities Account will not be
subject to deduction, set-off, banker’s lien, or any other right in favor of any person other than the Collateral Agent (except that the Securities Intermediary may set off (i) all amounts due to the
Securities Intermediary in respect of customary fees and expenses for the routine maintenance and operation of the Securities Account and (ii) the face amount of any checks which have been credited to such Securities Account but are
subsequently returned unpaid because of uncollected or insufficient funds). 
 Section 5. Choice of Law. THIS
AGREEMENT AND THE SECURITIES ACCOUNT (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. Regardless of any provision in any other agreement, for purposes of the UCC, New York shall be deemed
to be the Securities Intermediary’s jurisdiction (within the meaning of Section 8-110 of the UCC) and the Securities Account (as well as the securities entitlements related thereto) shall be governed
by the laws of the State of New York. 
 Section 6. Conflict with Other Agreements. 

(a) In the event of any conflict between this Agreement (or any portion thereof) and any other agreement now existing or hereafter entered
into, the terms of this Agreement shall prevail; 
 (b) No amendment or modification of this Agreement or waiver of any right hereunder shall
be binding on any party hereto unless it is in writing and is signed by all of the parties hereto; 
 (c) The Securities Intermediary hereby
confirms and agrees that: 
 (i) There are no other control agreements entered into between the Securities Intermediary and
the Debtor with respect to the Securities Account; 
 (ii) It has not entered into, and until the termination of this
Agreement, will not enter into, any agreement with any other person relating to the Securities Account and/or any financial assets credited thereto pursuant to which it has agreed to comply with entitlement orders (as defined in Section 8-102(a)(8) of the UCC) of such other person; and 
 (iii) It has not entered into, and
until the termination of this Agreement, will not enter into, any agreement with the Debtor or the Collateral Agent purporting to limit or condition the obligation of the Securities Intermediary to comply with entitlement orders as set forth in
Section 3 hereof. 

 Section 7. Adverse Claims. Except for the claims and interest of the
Collateral Agent and of the Debtor in the Securities Account, the Securities Intermediary does not know of any claim to, or interest in, the Securities Account or in any “financial asset” (as defined in Section 8-102(a) of the UCC) credited thereto. If any person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the
Securities Account or in any financial asset carried therein, the Securities Intermediary will promptly notify the Collateral Agent and the Debtor thereof. 

Section 8. Maintenance of Securities Account. In addition to, and not in lieu of, the obligation of the Securities
Intermediary to honor entitlement orders as agreed in Section 3 hereof, the Securities Intermediary agrees to maintain the Securities Account as follows: 

(a) Notice of Sole Control. If at any time the Collateral Agent delivers to the Securities Intermediary a Notice of Sole Control in
substantially the form set forth in Exhibit A hereto, the Securities Intermediary agrees that after receipt of such notice, it will take all instruction with respect to the Securities Account solely from the Collateral Agent. 

(b) Voting Rights. Until such time as the Securities Intermediary receives a Notice of Sole Control pursuant to subsection (a) of
this Section 8, the Debtor shall direct the Securities Intermediary with respect to the voting of any financial assets credited to the Securities Account. 

(c) Permitted Investments. Until such time as the Securities Intermediary receives a Notice of Sole Control signed by the Collateral
Agent, the Debtor shall direct the Securities Intermediary with respect to the selection of investments to be made for the Securities Account; provided, however, that the Securities Intermediary shall not honor any instruction to
purchase any investments other than investments of a type described on Exhibit B hereto. 
 (d) Statements and Confirmations.
The Securities Intermediary will promptly send copies of all statements, confirmations and other correspondence concerning the Securities Account and/or any financial assets credited thereto simultaneously to each of the Debtor and the Collateral
Agent at the address for each set forth in Section 12 of this Agreement. 
 (e) Tax Reporting. All items of income, gain, expense
and loss recognized in the Securities Account shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Debtor. 

Section 9. Representations, Warranties and Covenants of the Securities Intermediary. The Securities Intermediary
hereby makes the following representations, warranties and covenants: 
 (a) The Securities Account has been established as set forth in
Section 1 above and such Securities Account will be maintained in the manner set forth herein until termination of this Agreement; and 

(b) This Agreement is the valid and legally binding obligation of the Securities Intermediary. 

Section 10. Indemnification of Securities Intermediary. The Debtor and the Collateral Agent hereby agree that
(a) the Securities Intermediary is released from any and all liabilities to the Debtor and the Collateral Agent arising from the terms of this Agreement and the compliance of the Securities Intermediary with the terms hereof, except to the
extent that such liabilities arise from the Securities Intermediary’s negligence and (b) the Debtor, its successors and assigns shall at all times indemnify and save harmless the Securities Intermediary from and

 
against any and all claims, actions and suits of others arising out of the terms of this Agreement or the compliance of the Securities Intermediary with the terms hereof, except to the extent
that such arises from the Securities Intermediary’s negligence, and from and against any and all liabilities, losses, damages, costs, charges, counsel fees and other expenses of every nature and character arising by reason of the same, until
the termination of this Agreement. 
 Section 11. Successors; Assignment. The terms of this Agreement shall be
binding upon, and shall inure to the benefit of, the parties hereto and their respective corporate successors or heirs and personal representatives who obtain such rights solely by operation of law. The Collateral Agent may assign its rights
hereunder only with the express written consent of the Securities Intermediary and by sending written notice of such assignment to the Debtor. 

Section 12. Notices. Any notice, request or other communication required or permitted to be given under this
Agreement shall be in writing and deemed to have been properly given when delivered in person, or when sent by telecopy or other electronic means and electronic confirmation of error free receipt is received or two (2) days after being sent by
certified or registered United States mail, return receipt requested, postage prepaid, addressed to the party at the address set forth below. 
  

					
	Debtor:	 	[Name and Address of Debtor]	 	
		 	Attention: [                              ]	 	
		 	Telecopier: [                              ]	 	
			
	Collateral Agent:	 	[Name and Address of Collateral Agent]	 	
		 	Attention: [                              ]	 	
		 	Telecopier: [                              ]	 	
			
	Securities Intermediary:	 	[Name and Address of Securities Intermediary]	 	
		 	Attention: [                            ]	 	
		 	Telecopier: [                            ]	 	

 Any party may change its address for notices in the manner set forth above. 

Section 13. Termination. The obligations of the Securities Intermediary to the Collateral Agent pursuant to this
Agreement shall continue in effect until the security interest of the Collateral Agent in the Securities Account has been terminated pursuant to the terms of the Security Agreement and the Collateral Agent has notified the Securities Intermediary of
such termination in writing. The Collateral Agent agrees to provide Notice of Termination in substantially the form of Exhibit C hereto to the Securities Intermediary upon the request of the Debtor on or after the termination of the
Collateral Agent’s security interest in the Securities Account pursuant to the terms of the Security Agreement. The termination of this Agreement shall not terminate the Securities Account or alter the obligations of the Securities Intermediary
to the Debtor pursuant to any other agreement with respect to the Securities Account. 
 Section 14. Counterparts.
This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts. 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Account Control Agreement to
be executed as of the date first above written by their respective officers thereunto duly authorized. 
  

			
	[DEBTOR],	 	
	as Debtor	 	
	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 [HPS INVESTMENT PARTNERS, LLC],

as Collateral Agent

	
	By:
                                         
                                   
	      Authorized Signatory	 	
	
	 [NAME OF SECURITIES INTERMEDIARY],

as Securities Intermediary

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	

 EXHIBIT A 

TO SECURITIES ACCOUNT CONTROL AGREEMENT 

[Letterhead of Collateral Agent] 

[Date] 
 [Name and Address
of Securities Intermediary] 
 Attention:
[                                    ] 

Re: Notice of Sole Control 
 Ladies and
Gentlemen: 
 As referenced in the Securities Account Control Agreement dated as of
[        ], 20[    ] among [Name of Debtor] (the “Debtor”), you and the undersigned (a copy of which is attached), we hereby give
you notice of our sole control over securities account number [                    ] (the “Securities Account”) and
all financial assets credited thereto. You are hereby instructed not to accept any direction, instructions or entitlement orders with respect to the Securities Account or the financial assets credited thereto from any person other than the
undersigned, unless otherwise ordered by a court of competent jurisdiction. 
 You are instructed to deliver a copy of this notice by
facsimile transmission to the Debtor. 
  

			
	 Very truly yours,

	 [HPS Investment Partners, LLC],

as Collateral Agent

	
	 By:
                                         
                                   

		 	    Authorized Signatory

 cc: [Name of Debtor] 

 EXHIBIT B 

TO SECURITIES ACCOUNT CONTROL AGREEMENT 

Permitted Investments 
 [TO
COME] 

 EXHIBIT C 

TO SECURITIES ACCOUNT CONTROL AGREEMENT 

[Letterhead of the Collateral Agent] 

[Date] 
 [Name and Address
of Securities Intermediary] 
 Attention:
[                            ] 

Re: Termination of Securities Account Control Agreement 

You are hereby notified that the Securities Account Control Agreement dated as of
[        ], 20[    ] among you, [Name of Debtor] (the “Debtor”) and the undersigned (a copy of which is attached) is
terminated and you have no further obligations to the undersigned pursuant to such Agreement. Notwithstanding any previous instructions to you, you are hereby instructed to accept all future directions with respect to account number(s)
[                                    ] from the Debtor.
This notice terminates any obligations you may have to the undersigned with respect to such account, however nothing contained in this notice shall alter any obligations which you may otherwise owe to the Debtor pursuant to any other agreement. 

You are instructed to deliver a copy of this notice by facsimile transmission to the Debtor. 

 

			
	 Very truly yours,

	 [HPS Investment Partners, LLC],

as Collateral Agent

	
	 By:
                                         
                                   

		 	 Authorized Signatory

 EXHIBIT C 

TO PLEDGE AND SECURITY AGREEMENT 

DEPOSIT ACCOUNT CONTROL AGREEMENT 

This Deposit Account Control Agreement dated as of [        ],
20[    ] (this “Agreement”) among [                    ] (the
“Debtor”), [                ], as collateral agent for the Secured Parties (together with its successors and assigns, the
“Collateral Agent”) and [                    ], in its capacity as a “bank” as defined in Section 9-102 of the UCC (in such capacity, the “Financial Institution”). Capitalized terms used but not defined herein shall have the meaning assigned thereto in the Pledge and Security
Agreement, dated [as of the date hereof], between the Debtor, the other Grantors party thereto and the Collateral Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Pledge and Security
Agreement”). All references herein to the “UCC” shall mean the Uniform Commercial Code as in effect in the State of [New York]. 

Section 1. Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that: 

(a) The Financial Institution has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF
ACCOUNT]” (such account and any successor account, the “Deposit Account”) and the Financial Institution shall not change the name or account number of the Deposit Account without the prior written consent of the Collateral
Agent and, prior to delivery of a Notice of Sole Control in substantially the form set forth in Exhibit A hereto, the Debtor; and 

(b) The Deposit Account is a “deposit account” within the meaning of Section 9-102(a)(29) of
the UCC. 
 Section 2. Control of the Deposit Account. If at any time the Financial Institution shall receive any
instructions originated by the Collateral Agent directing the disposition of funds in the Deposit Account, the Financial Institution shall comply with such instructions without further consent by the Debtor or any other person. The Financial
Institution hereby acknowledges that it has received notice of the security interest of the Collateral Agent in the Deposit Account and hereby acknowledges and consents to such lien. If the Debtor is otherwise entitled to issue instructions and such
instructions conflict with any instructions issued the Collateral Agent, the Financial Institution shall follow the instructions issued by the Collateral Agent. 

Section 3. Subordination of Lien; Waiver of Set-Off. In
the event that the Financial Institution has or subsequently obtains by agreement, by operation of law or otherwise a security interest in the Deposit Account or any funds credited thereto, the Financial Institution hereby agrees that such security
interest shall be subordinate to the security interest of the Collateral Agent. Money and other items credited to the Deposit Account will not be subject to deduction, set-off, banker’s lien, or any other
right in favor of any person other than the Collateral Agent (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine maintenance and operation
of the Deposit Account and (ii) the face amount of any checks which have been credited to such Deposit Account but are subsequently returned unpaid because of uncollected or insufficient funds). 

 Section 4. Choice of Law. THIS AGREEMENT AND THE DEPOSIT ACCOUNT
(INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. Regardless of any provision in any other agreement, for purposes of the UCC, New York shall be deemed to be the Financial
Institution’s jurisdiction (within the meaning of Section 9-304 of the UCC) and the Deposit Account shall be governed by the laws of the State of New York. 

Section 5. Conflict with Other Agreements. 

(a) In the event of any conflict between this Agreement (or any portion thereof) and any other agreement now existing or hereafter entered
into, the terms of this Agreement shall prevail; 
 (b) No amendment or modification of this Agreement or waiver of any right hereunder shall
be binding on any party hereto unless it is in writing and is signed by all of the parties hereto; and 
 (c) The Financial Institution
hereby confirms and agrees that: 
 (i)    There are no other agreements entered into between the
Financial Institution and the Debtor with respect to the Deposit Account [other than                     ]; and 

(ii)    It has not entered into, and until the termination of this Agreement, will not enter into, any
agreement with any other person relating the Deposit Account and/or any funds credited thereto pursuant to which it has agreed to comply with instructions originated by such persons as contemplated by
Section 9-104 of the UCC. 
 Section 6. Adverse Claims. The Financial
Institution does not know of any liens, claims or encumbrances relating to the Deposit Account. If any person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar
process) against the Deposit Account, the Financial Institution will promptly notify the Collateral Agent and the Debtor thereof. 

Section 7. Maintenance of Deposit Account . In addition to, and not in lieu of, the obligation of the Financial
Institution to honor instructions as set forth in Section 2 hereof, the Financial Institution agrees to maintain the Deposit Account as follows: 

(a) Notice of Sole Control. If at any time the Collateral Agent delivers to the Financial Institution a Notice of Sole Control in
substantially the form set forth in Exhibit A hereto, the Financial Institution agrees that after receipt of such notice, it will take all instruction with respect to the Deposit Account solely from the Collateral Agent. 

(b) Statements and Confirmations. The Financial Institution will promptly send copies of all statements, confirmations and other
correspondence concerning the Deposit Account simultaneously to each of the Debtor and the Collateral Agent at the address for each set forth in Section 11 of this Agreement; and 

 (c) Tax Reporting. All interest, if any, relating to the Deposit Account, shall be
reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Debtor. 

Section 8. Representations, Warranties and Covenants of the Financial Institution. The Financial Institution hereby makes
the following representations, warranties and covenants: 
 (a) The Deposit Account has been established as set forth in Section 1 and
such Deposit Account will be maintained in the manner set forth herein until termination of this Agreement; and 
 (b) This Agreement is the
valid and legally binding obligation of the Financial Institution. 
 Section 9. Indemnification of Financial
Institution. The Debtor and the Collateral Agent hereby agree that (a) the Financial Institution is released from any and all liabilities to the Debtor and the Collateral Agent arising from the terms of this Agreement and the compliance of
the Financial Institution with the terms hereof, except to the extent that such liabilities arise from the Financial Institution’s negligence and (b) the Debtor, its successors and assigns shall at all times indemnify and save harmless the
Financial Institution from and against any and all claims, actions and suits of others arising out of the terms of this Agreement or the compliance of the Financial Institution with the terms hereof, except to the extent that such arises from the
Financial Institution’s negligence, and from and against any and all liabilities, losses, damages, costs, charges, counsel fees and other expenses of every nature and character arising by reason of the same, until the termination of this
Agreement. 
 Section 10. Successors; Assignment. The terms of this Agreement shall be binding upon, and shall
inure to the benefit of, the parties hereto and their respective corporate successors or heirs and personal representatives who obtain such rights solely by operation of law. The Collateral Agent may assign its rights hereunder only with the express
written consent of the Financial Institution and by sending written notice of such assignment to the Debtor. 

Section 11 Notices. Any notice, request or other communication required or permitted to be given under this
Agreement shall be in writing and deemed to have been properly given when delivered in person, or when sent by telecopy or other electronic means and electronic confirmation of error free receipt is received or two (2) days after being sent by
certified or registered United States mail, return receipt requested, postage prepaid, addressed to the party at the address set forth below. 

Debtor:
                      [Name and Address of Debtor] 

                        
           Attention:
[                            ] 

                        
           Telecopier:
[                            ] 

Collateral Agent:       [Name and Address of Collateral Agent] 

                        
           Attention:
[                            ] 

                        
           Telecopier:
[                            ] 

Financial Institution: [Name and Address of Financial Institution] 

                        
          Attention:
[                            ] 

                        
          Telecopier:
[                            ] 

 Any party may change its address for notices in the manner set forth above. 

Section 12. Termination. The obligations of the Financial Institution to the Collateral Agent pursuant to this
Agreement shall continue in effect until the security interest of the Collateral Agent in the Deposit Account has been terminated pursuant to the terms of the Pledge and Security Agreement and the Collateral Agent has notified the Financial
Institution of such termination in writing. The Collateral Agent agrees to provide Notice of Termination in substantially the form of Exhibit B hereto to the Financial Institution upon the request of the Debtor on or after the termination of
the Collateral Agent’s security interest in the Deposit Account pursuant to the terms of the Pledge and Security Agreement. The termination of this Agreement shall not terminate the Deposit Account or alter the obligations of the Financial
Institution to the Debtor pursuant to any other agreement with respect to the Deposit Account. 
 Section 13.
Counterparts. This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts. 

IN WITNESS WHEREOF, the parties hereto have caused this Deposit Account Control Agreement to be executed as of the date first above written by
their respective officers thereunto duly authorized. 
  

			
	 [DEBTOR],
 as
Debtor

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	
	
	 [HPS INVESTMENT PARTNERS, LLC],

as Collateral Agent

	
	By:
                                         
                                   
	      Authorized Signatory
	
	 [NAME OF FINANCIAL INSTITUTION],

as Financial Institution

	
	By:
                                         
                                   
	Name:	 	
	Title:	 	

 EXHIBIT A 

TO DEPOSIT ACCOUNT CONTROL AGREEMENT 

[Letterhead of Collateral Agent] 

[Date] 
 [Name and Address
of Financial Institution] 
 Attention:
[                            ] 

Re: Notice of Sole Control 
 Ladies and
Gentlemen: 
 As referenced in the Deposit Account Control Agreement dated as of
[        ], 20[    ] among [Name of Debtor] (the “Debtor”), you and the undersigned (a copy of which is attached), we hereby give
you notice of our sole control over deposit account number [                        ] (the “Deposit
Account”) and all financial assets credited thereto. You are hereby instructed not to accept any direction, instructions or entitlement orders with respect to the Deposit Account or the financial assets credited thereto from any person
other than the undersigned, unless otherwise ordered by a court of competent jurisdiction. 
 You are instructed to deliver a copy of this
notice by facsimile transmission to the Debtor. 
  

			
	 Very truly yours,

	 [HPS Investment Partners, LLC],

as Collateral Agent

	
	 By:
                                         
                                   

		 	    Authorized Signatory

 cc: [Name of Debtor] 

 EXHIBIT B 

TO DEPOSIT ACCOUNT CONTROL AGREEMENT 

[Letterhead of the Collateral Agent] 

[Date] 
 [Name and Address
of Financial Institution] 
 Attention:
[                            ] 

Re: Termination of Deposit Account Control Agreement 

You are hereby notified that the Deposit Account Control Agreement dated as of
[        ], 20[    ] among [Name of Debtor] (the “Debtor”), you and the undersigned (a copy of which is attached) is terminated
and you have no further obligations to the undersigned pursuant to such Agreement. Notwithstanding any previous instructions to you, you are hereby instructed to accept all future directions with respect to account number(s)
[                            ] from the Debtor. This notice terminates any obligations you may
have to the undersigned with respect to such account, however nothing contained in this notice shall alter any obligations which you may otherwise owe to the Debtor pursuant to any other agreement. 

You are instructed to deliver a copy of this notice by facsimile transmission to the Debtor. 

 

			
	 Very truly yours,

	 [HPS Investment Partners, LLC],

as Collateral Agent

	
	
By:                  
                                         
                 

	      Authorized SignatoryEX-4.1

 Exhibit 4.1 

DEXCOM, INC. 
 0.75%
CONVERTIBLE SENIOR NOTES DUE 2022 
 INDENTURE 

DATED AS OF MAY 12, 2017 

U.S. BANK NATIONAL ASSOCIATION, 

AS TRUSTEE 

 TABLE OF CONTENTS 

 
  

 

			
		  	PAGE
		
	ARTICLE 1	  	 
	DEFINITIONS AND INCORPORATION BY REFERENCE	  	 
		
	 Section 1.01. Definitions
	  	1
	 Section 1.02. Other Definitions
	  	9
	 Section 1.03. Rules of Construction
	  	10
	 Section 1.04. References to Additional Interest
	  	11
		
	ARTICLE 2	  	 
	THE SECURITIES	  	 
		
	 Section 2.01. Form and Dating
	  	11
	 Section 2.02. Execution and Authentication; Payments of Interest and Defaulted
Amounts
	  	13
	 Section 2.03. Registrar, Paying Agent and Conversion Agent
	  	15
	 Section 2.04. Paying Agent to Hold Money in Trust
	  	16
	 Section 2.05. Holder
	  	16
	 Section 2.06. Transfer and Exchange; Transfer Restrictions
	  	16
	 Section 2.07. Replacement Securities
	  	21
	 Section 2.08. Outstanding Securities
	  	22
	 Section 2.09. Treasury Securities
	  	22
	 Section 2.10. Temporary Securities
	  	22
	 Section 2.11. Cancellation; Repurchase
	  	23
	 Section 2.12. Additional Transfer and Exchange Requirements
	  	23
	 Section 2.13. CUSIP Numbers
	  	25
		
	ARTICLE 3	  	 
	OPTIONAL REDEMPTION; REPURCHASE UPON A FUNDAMENTAL CHANGE	  	 
		
	 Section 3.01. Optional Redemption
	  	26
	 Section 3.02. Notice of Optional Redemption; Selection of Securities
	  	26
	 Section 3.03. Payment of Securities Called for Redemption
	  	27
	 Section 3.04. Restrictions on Redemption
	  	27
	 Section 3.05. Repurchase at Option of the Holder Upon a Fundamental Change
	  	27
	 Section 3.06. Compliance with Securities Laws Upon Purchase of Securities
	  	30
	 Section 3.07. No Repurchase Upon Acceleration
	  	30
	 Section 3.08. Repayment to the Company
	  	30
	 Section 3.09. Partial Repurchase
	  	31
		
	ARTICLE 4	  	 
	CONVERSION	  	 
		
	 Section 4.01. Conversion Rights
	  	31
	 Section 4.02. Settlement Upon Conversion; Conversion Procedures
	  	33

  
 i 

					
	 Section 4.03. Company to Provide Stock
	  	 	38	 
	 Section 4.04. Adjustment to Conversion Rate Upon a Make-Whole Fundamental Change or Notice
of Redemption
	  	 	38	 
	 Section 4.05. Conversion Rate Adjustments
	  	 	40	 
	 Section 4.06. Adjustments of Prices
	  	 	51	 
	 Section 4.07. Effect of Recapitalizations, Reclassifications and Changes of the Common
Stock
	  	 	51	 
	 Section 4.08. Cancellation of Converted Securities
	  	 	53	 
	 Section 4.09. Shareholders Rights
	  	 	53	 
	 Section 4.10. Trustee’s Disclaimer
	  	 	54	 
	 Section 4.11. Exchange in Lieu of Conversion
	  	 	54	 
		
	ARTICLE 5	  	 	 
	COVENANTS	  	 	 
		
	 Section 5.01. Payment on the Securities
	  	 	55	 
	 Section 5.02. SEC Reports and Rule 144A Information Requirement
	  	 	55	 
	 Section 5.03. Compliance Certificates
	  	 	57	 
	 Section 5.04. Further Instruments and Acts
	  	 	57	 
	 Section 5.05. Maintenance of Corporate Existence
	  	 	57	 
	 Section 5.06. Stay, Extension and Usury Laws
	  	 	58	 
		
	ARTICLE 6	  	 	 
	CONSOLIDATION, MERGER, SALE, CONVEYANCE, TRANSFER OR LEASE	  	 	 
		
	 Section 6.01. Company May Consolidate, Etc., Only on Certain Terms
	  	 	58	 
	 Section 6.02. Successor Substituted
	  	 	58	 
		
	ARTICLE 7	  	 	 
	DEFAULT AND REMEDIES	  	 	 
		
	 Section 7.01. Events Of Default
	  	 	59	 
	 Section 7.02. Acceleration
	  	 	60	 
	 Section 7.03. Other Remedies
	  	 	61	 
	 Section 7.04. Additional Interest
	  	 	61	 
	 Section 7.05. Waiver of Defaults and Events of Default
	  	 	62	 
	 Section 7.06. Control by Majority
	  	 	62	 
	 Section 7.07. Limitations on Suits
	  	 	62	 
	 Section 7.08. Rights of Holders to Receive Payment and to Convert
	  	 	63	 
	 Section 7.09. Collection Suit by Trustee
	  	 	63	 
	 Section 7.10. Trustee May File Proofs of Claim
	  	 	63	 
	 Section 7.11. Priorities
	  	 	64	 
	 Section 7.12. Undertaking for Costs
	  	 	64	 
		
	ARTICLE 8	  	 	 
	TRUSTEE	  	 	 
		
	 Section 8.01. Duties of Trustee
	  	 	64	 

  
 ii 

					
	 Section 8.02. Rights of Trustee
	  	 	65	 
	 Section 8.03. Individual Rights of Trustee
	  	 	67	 
	 Section 8.04. Trustee’s Disclaimer
	  	 	67	 
	 Section 8.05. Notice of Default or Events of Default
	  	 	67	 
	 Section 8.06. [Reserved]
	  	 	67	 
	 Section 8.07. Compensation and Indemnity
	  	 	67	 
	 Section 8.08. Replacement of Trustee
	  	 	68	 
	 Section 8.09. Successor Trustee by Merger, Etc
	  	 	69	 
	 Section 8.10. Eligibility; Disqualification
	  	 	69	 
	 Section 8.11. [Reserved]
	  	 	69	 
		
	ARTICLE 9	  	 	 
	SATISFACTION AND DISCHARGE OF INDENTURE	  	 	 
		
	 Section 9.01. Satisfaction and Discharge of Indenture
	  	 	69	 
	 Section 9.02. Application of Trust Money
	  	 	70	 
	 Section 9.03. Repayment to Company
	  	 	70	 
	 Section 9.04. Reinstatement
	  	 	71	 
		
	ARTICLE 10	  	 	 
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	  	 	 
		
	 Section 10.01. Without Consent of Holders
	  	 	71	 
	 Section 10.02. With Consent of Holders
	  	 	72	 
	 Section 10.03. [Reserved]
	  	 	73	 
	 Section 10.04. Revocation and Effect of Consents
	  	 	73	 
	 Section 10.05. Notation on or Exchange of Securities
	  	 	73	 
	 Section 10.06. Trustee to Sign Amendments, Etc
	  	 	74	 
	 Section 10.07. Effect of Supplemental Indentures
	  	 	74	 
		
	ARTICLE 11	  	 	 
	MISCELLANEOUS	  	 	 
		
	 Section 11.01. [Reserved]
	  	 	74	 
	 Section 11.02. Notices
	  	 	74	 
	 Section 11.03. [Reserved.]
	  	 	76	 
	 Section 11.04. Certificate and Opinion as to Conditions Precedent
	  	 	76	 
	 Section 11.05. Record Date for Vote or Consent of Holders
	  	 	77	 
	 Section 11.06. Rules by Trustee, Paying Agent, Registrar and Conversion Agent
	  	 	77	 
	 Section 11.07. Legal Holidays
	  	 	77	 
	 Section 11.08. Governing Law; Jurisdiction
	  	 	77	 
	 Section 11.09. No Adverse Interpretation of Other Agreements
	  	 	78	 
	 Section 11.10. Interpretation
	  	 	78	 
	 Section 11.11. No Personal Liability of Directors, Officers, Employees or
Shareholders
	  	 	78	 
	 Section 11.12. Successors
	  	 	78	 
	 Section 11.13. Multiple Counterparts
	  	 	78	 

  
 iii 

					
	 Section 11.14. Separability
	  	 	78	 
	 Section 11.15. Tax Treatment
	  	 	78	 
	 Section 11.16. Table of Contents, Headings, Etc
	  	 	79	 
	 Section 11.17. Force Majeure
	  	 	79	 
	 Section 11.18. Waiver of Jury Trial
	  	 	79	 
	 Section 11.19. Calculations
	  	 	79	 
	 Section 11.20. U.S.A. PATRIOT Act
	  	 	79	 
		
	 Exhibit A        [Form of Face of Security]
	  	 	1	 

  
 iv 

 INDENTURE, dated as of May 12, 2017, between DexCom, Inc., a Delaware corporation (the
“Company”, as more fully set forth in Section 1.01), and U.S. Bank National Association, a national banking association, as trustee (the “Trustee”, as more fully set forth in Section 1.01). 

The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the
Company’s 0.75% Convertible Senior Notes due 2022 (as are issued under this Indenture, and as amended or supplemented from time to time, the “Securities”). 

ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“Additional Interest” means all amounts, if any, payable pursuant to Sections 2.06, 5.02 and 7.04, as applicable. 

“Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by
or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any Person, means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agent” means any Registrar, Paying Agent, Securities Custodian, Bid Solicitation Agent or Conversion Agent. 

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

“Authorized Officer” shall have the meaning specified in Section 11.02. 

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

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

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

“Certificated Security” means a certificated Security that is in substantially the form attached hereto as Exhibit A.

 “close of business” means 5:00 p.m. (New York City time). 

“Common Equity” of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election
of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others who will control the management or policies of such Person. 

“Common Stock” means the common stock of the Company, $0.001 par value per share, subject to Section 4.07. 

“Company” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to
the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 
 “Conversion
Consideration” shall have the meaning specified in Section 4.11.  
 “Conversion Price” means
as of any date $1,000, divided by the Conversion Rate as of such date. 
 “Corporate Trust Office” means the office of the
Trustee at the address specified in Section 11.02, and for Agent services such office shall also mean the office or agency of the Trustee located at the date hereof is located at U.S. Bank National Association, 633 West Fifth Street, 24th
Floor, Los Angeles, California 90071, Attention: P. Oswald (DexCom, Inc. Convertible Senior Notes due 2022), or such other address as to which the Trustee may give notice to the Company. 

“Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law.

 “Daily Conversion Value” means, for each of the 20 consecutive Trading Days during the Observation Period, 1/20 of the
product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP for such Trading Day. 

  
 2 

 “Daily Measurement Value” means the Specified Dollar Amount (if any), divided by
20. 
 “Daily Settlement Amount,” for each of the 20 consecutive Trading Days during the Observation Period, shall consist
of: 
 (a) cash equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily Conversion Value; and 

(b) if the Daily Conversion Value exceeds the Daily Measurement Value, a number of shares of Common Stock equal to (i) the difference
between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such Trading Day. 

“Daily VWAP” means, for each of the 20 consecutive Trading Days during the relevant Observation Period, the per share
volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “DXCM <equity> AQR” (or any successor thereto) in respect of the period from the scheduled opening time of The NASDAQ Global
Select Market to the scheduled closing time of The NASDAQ Global Select Market on such Trading Day (or if such volume-weighted average price is unavailable at such time, the market value of one share of Common Stock on such Trading Day as
determined, using, if practicable, a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to
after-hours trading or any other trading outside of the regular trading session trading hours. 
 “Default” or
“default” means, when used with respect to the Securities, any event that is or, after notice or passage of time or both, would be an Event of Default. 

“Defaulted Amounts” means any amounts on any Securities (including, without limitation, the Redemption Price, the Fundamental
Change Repurchase Price, principal and interest) that are payable but are not punctually paid or duly provided for. 
 “Designated
Institution” shall have the meaning specified in Section 4.11. 
 “Effective Date” shall have the meaning
specified in Section 4.04(c), except that, as used in Section 4.05 and Section 4.06, “Effective Date” means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular
way, reflecting the relevant share split or share combination, as applicable. 
 “Electronic Means” shall have the meaning
specified in Section 11.02. 
 “Ex-Dividend Date” means the first date on
which the shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of
Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. 

“Exchange Act” means the Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time. 

  
 3 

 “Exchange Election” shall have the meaning specified in Section 4.11. 

“Fundamental Change” shall be deemed to have occurred at the time after the Securities are originally issued if any of the
following occurs: 
 (a) the Common Stock (or other Reference Property into which the Securities are then convertible) ceases to be listed on
any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors); 

(b) any Person, including any group deemed to be a “person” under Section 13(d)(3) of the Exchange Act, other than the Company
or any of its wholly-owned Subsidiaries, becoming the beneficial owner, directly or indirectly, through a purchase, merger, other acquisition transaction or series of transactions or otherwise, of shares of the Company’s Capital Stock entitling
the Person or group to exercise 50% or more of the total voting power of all shares of the Company’s Capital Stock entitled to vote generally in elections of directors; 

(c) the (i) consolidation, share exchange or merger of the Company pursuant to which the Common Stock is converted into cash, securities
or other property, (ii) the conveyance, transfer, sale, lease or other disposition, in one or a series of related transactions, of all or substantially all of the Company and the Company’s Subsidiaries’ assets, taken as a whole, to
any “person” (as this term is used in Section 13(d)(3) of the Exchange Act) or (iii) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or combination) as a result of
which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets; provided that, with respect to clause (i), any transaction pursuant to which the holders of 50% or more of the total voting
power of all shares of the Company’s capital stock entitled to vote generally in elections of directors immediately prior to such transaction have the right to exercise, directly or indirectly, 50% or more of the total voting power of all
shares of the Company’s capital stock (or other securities issued in such transaction) entitled to vote generally in elections of directors of the continuing or surviving person or the parent entity thereof immediately after giving effect to
such transaction, in substantially the same proportions as such ownership immediately prior to such transaction shall not constitute a fundamental change pursuant to this clause (c); or 

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

provided, however, that a transaction or transactions described in clause (c) above shall not constitute a Fundamental Change and Holders
shall not have the right to require the Company to repurchase any Securities (and the Company shall not be required to deliver the Fundamental Change Repurchase Right Notice incidental thereto) if at least 90% of the consideration paid for the
Common Stock (excluding cash payments for fractional shares and cash payments made pursuant to dissenters’ or appraisal rights) in connection with such transaction or transactions consists of shares of common stock that are listed or quoted on
any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) or will be so traded or quoted immediately following such transaction or transactions and, as a result of such
transaction or transactions, such consideration, excluding cash payments for fractional shares and cash payments made 

  
 4 

 
pursuant to dissenters’ or appraisal rights, becomes the Reference Property as described in Section 4.07. In addition, for purposes of this paragraph, a transaction or event that
constitutes a Fundamental Change under both clause (b) and clause (c) above (without regard to the proviso in clause (c) above) and does not constitute a Fundamental Change under clause (c) above by reason of the proviso in
clause (c) above will also not be deemed to constitute a Fundamental Change solely under clause (b) of this definition of Fundamental Change. For purposes of this definition, whether a Person is a “beneficial owner” will be
determined in accordance with Rule 13d-3 under the Exchange Act, and “Person” includes any syndicate or group that would be deemed to be a “person” under Section 13(d)(3) of the
Exchange Act. 
 “GAAP” means generally accepted accounting principles in the United States of America as in effect as of
the date of this Indenture, including those set forth in (1) the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, (2) the statements and pronouncements of the
Financial Accounting Standards Board, (3) such other statements by such other entity as approved by a significant segment of the accounting profession and (4) the rules and regulations of the SEC governing the inclusion of financial
statements (including pro forma financial statements) in registration statements filed under the Securities Act and periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff
accounting bulletins and similar written statements from the accounting staff of the SEC. 
 “Global Security” means a
permanent Global Security that is in substantially the form attached hereto as Exhibit A and that is deposited with the Depositary or its custodian and registered in the name of the Depositary or its nominee. 

“Holder” means the Person in whose name a Security is registered on the Registrar’s books. 

“Indenture” means this Indenture as amended or supplemented from time to time pursuant to the terms of this Indenture. 

“Initial Purchasers” means J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. 

“Instructions” shall have the meaning specified in Section 11.02. 

“Interest Payment Date” means each May 15 and November 15 of each year, beginning on November 15, 2017. 

“Last Reported Sale Price” of the Common Stock on any date means the closing sale price per share (or if no closing sale
price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional
securities 

  
 5 

 
exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the “Last Reported Sale
Price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a
similar organization. If the Common Stock is not so quoted, the “Last Reported Sale Price” shall be the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant
date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 

“Legal Holiday” is any day other than a Business Day. 

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

“Market Disruption Event” means (a) a failure by the primary U.S. national or regional securities exchange or market on
which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for
more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common
Stock or in any options, contracts or futures contracts relating to the Common Stock. 
 “Maturity Date” means May 15,
2022. 
 “Observation Period” with respect to any Security surrendered for conversion means: (a) subject to clause
(b), if the relevant Conversion Date occurs prior to the 25th Scheduled Trading Day immediately preceding May 15, 2022, the 20 consecutive Trading Day period beginning on, and including, the second Trading Day immediately succeeding such
Conversion Date; (b) if the relevant Conversion Date occurs on or after the date of the Company’s issuance of a Redemption Notice with respect to the Securities pursuant to Section 3.02 and prior to the relevant Redemption Date, the
20 consecutive Trading Days beginning on, and including, the 22nd Scheduled Trading Day immediately preceding such Redemption Date; and (c) if the relevant Conversion Date occurs on or after the 25th Scheduled Trading Day immediately preceding
May 15, 2022, the 20 consecutive Trading Days beginning on, and including, the 22nd Scheduled Trading Day immediately preceding May 15, 2022. 

“Officer” means the Chairman of the Board, the Chief Executive Officer, the President, any Vice President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of the Company. 

“Officers’ Certificate” means a certificate signed on behalf of the Company by at least two Officers that meets the
requirements of Section 11.04. 

  
 6 

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

“Opinion of Counsel” means a written opinion that meets the requirements of Section 11.04 from legal counsel. The
counsel may be an employee of or counsel to the Company or any Subsidiary of the Company. 
 “Optional Redemption” shall
have the meaning specified in Section 3.01. 
 “Person” means any individual, corporation, partnership, limited
liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Principal” or “principal” of a debt security, including the Securities, means the principal of the
security, plus, when appropriate, the premium, if any, on such security. 
 “Purchase Agreement” means that certain
Purchase Agreement, dated as of May 8, 2017, among the Company and the Initial Purchasers. 
 “Record Date” means,
with respect to any dividend, distribution or other transaction or event in which the holders of Common Stock (or other security) have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable
security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of shareholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board
of Directors, by statute, by contract or otherwise). 
 “Redemption Date” shall have the meaning specified in Section
3.02(a). 
 “Redemption Notice” shall have the meaning specified in Section 3.02(a). 

“Redemption Price” means, for any Securities to be redeemed pursuant to Section 3.01, 100% of the principal amount of
such Securities, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case
interest accrued to the Interest Payment Date will be paid to Holders of record of such Securities on such Regular Record Date, and the Redemption Price will be equal to 100% of the principal amount of such Securities). 

“Regular Record Date,” with respect to any Interest Payment Date, shall mean the May 1 or November 1 (whether or
not such day is a Business Day) immediately preceding the applicable May 15 or November 15 Interest Payment Date, respectively. 

“Resale Restriction Termination Date” shall have the meaning specified in Section 2.06(d). 

  
 7 

 “Responsible Officer” when used with respect to the Trustee, means any officer
within the Corporate Trust Office of the Trustee having direct responsibility for the administration of this Indenture, or to whom such matter relating to this Indenture is referred because of his or her knowledge of and familiarity with the
particular subject. 
 “Restricted Securities” shall have the meaning specified in Section 2.06(d). 

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

“transfer” shall have the meaning specified in Section 2.06(d). 

“Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the principal U.S. national or regional
securities exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day. 

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

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

“Specified Dollar Amount” means the maximum cash amount per $1,000 principal amount of Securities to be received upon
conversion as specified in the Settlement Notice related to any converted Securities. 
 “Significant Subsidiary” means, in
respect of any Person, a Subsidiary of such Person that would constitute a “significant subsidiary”, as such term is defined in Rule 1-02 of
Regulation S-X under the Exchange Act. 
 “Subsidiary” means, in respect of
any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (a) such Person; (b) such Person and one or more
Subsidiaries of such Person; or (c) one or more Subsidiaries of such Person. 
 “Successor Company” shall have the
meaning specified in Section 6.01(a). 
 “Trading Day” means a day on which (a) trading in the Common Stock (or other
security for which a Last Reported Sale Price must be determined) generally occurs on The 

  
 8 

 
NASDAQ Global Select Market or, if the Common Stock (or such other security) is not then listed on The NASDAQ Global Select Market, on the principal other U.S. national or regional securities
exchange on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common
Stock (or such other security) is then traded and (b) a Last Reported Sale Price for the Common Stock (or such other security) is available on such securities exchange or market; provided that if the Common Stock (or such other security)
is not so listed or traded, “Trading Day” means a Business Day; and provided, further, that for purposes of determining amounts due upon conversion only, “Trading Day” means a day on which (i) there is no
Market Disruption Event and (ii) trading in the Common Stock generally occurs on The NASDAQ Global Select Market or, if the Common Stock is not then listed on The NASDAQ Global Select Market, on the principal other U.S. national or regional
securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for
trading, except that if the Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day. 

“Trading Price” per $1,000 principal amount of Securities on any date of determination means the average of the secondary
market bid quotations obtained by the Bid Solicitation Agent for $2.0 million principal amount of Securities at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities
dealers the Company selects for this purpose; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such
bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $2.0 million principal amount of Securities from a nationally recognized
securities dealer, then the Trading Price per $1,000 principal amount of Securities shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. 

“Trustee” means the party named as such in the first paragraph of this Indenture until a successor trustee shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter shall mean or include each Person who is then a Trustee hereunder. 

“Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by
a number or a word or words added before or after the title “vice president.” 
 Section 1.02. Other Definitions. 

 

			
	 Term
	  	Where Defined
	 “Additional Shares”
	  	4.04(a)
	 “Agent Members”
	  	2.01(b)
	 “Cash Settlement”
	  	4.02(a)
	 “Clause A Distribution”
	  	4.05(c)
	 “Clause B Distribution”
	  	4.05(c)
	 “Clause C Distribution”
	  	4.05(c)

  
 9 

			
	 “Combination Settlement”
	  	4.02(a)
	 “Company Order”
	  	2.02(c)
	 “Conversion Agent”
	  	2.03
	 “Conversion Consideration”
	  	4.11(a)
	 “Conversion Date”
	  	4.02(c)
	 “Conversion Notice”
	  	4.02(b)
	 “Conversion Obligation”
	  	4.01(a)
	 “Conversion Rate”
	  	4.01(a)
	 “Distributed Property”
	  	4.05(c)
	 “DTC”
	  	2.01(b)
	 “Depositary”
	  	2.01(b)
	 “Designated Institution”
	  	4.11(a)
	 “Event of Default”
	  	7.01
	 “Exchange Election”
	  	4.11(a)
	 “Fundamental Change Repurchase Date”
	  	3.05(d)
	 “Fundamental Change Repurchase Price”
	  	3.05(a)
	 “Fundamental Change Repurchase Right Notice”
	  	3.05(b)
	 “Measurement Period”
	  	4.01(c)
	 “Merger Event”
	  	4.07(a)
	 “Non-Separate Rights”
	  	4.09
	 “Paying Agent”
	  	2.03
	 “Physical Settlement”
	  	4.02(a)
	 “Reference Property”
	  	4.07(a)
	 “Repurchase Exercise Notice”
	  	3.05(c)
	 “Registrar”
	  	2.03
	 “Securities”
	  	Recitals
	 “Settlement Amount”
	  	4.02(a)(ii)
	 “Settlement Notice”
	  	4.02(a)(i)
	 “Spin-Off”
	  	4.05(c)
	 “Stock Price”
	  	4.04(c)
	 “Trigger Event”
	  	4.05(c)
	 “unit of Reference Property”
	  	4.07(a)
	 “Valuation Period”
	  	4.05(c)

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

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

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

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

(d) provisions apply to successive events and transactions; 

(e) the term “merger” includes a statutory share exchange and the term “merged” has a correlative meaning; 

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

  
 10 

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

 (h) “herein,” “hereof”, “hereunder” and other words of similar import refer to this Indenture as a whole and
not to any particular Article, Section or other subdivision. 
 Section 1.04. References to Additional Interest. Unless the
context otherwise requires, any reference to interest on, or in respect of, any Security in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of Section
2.06(d), Section 2.06(e), Section 5.02(e) or Section 7.04, as applicable. Unless the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those
provisions hereof where such express mention is not made. 
 ARTICLE 2 

THE SECURITIES 

Section 2.01. Form and Dating. (a) The Securities and the Trustee’s certificate of authentication shall be substantially
in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall
provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part
of this Indenture, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. Any Security may be endorsed with or have incorporated in the text thereof
such legends or recitals or changes not inconsistent with the provisions of this Indenture as may be required by the Securities Custodian or the Depositary, or as may be required to comply with any applicable law or any regulation thereunder or with
the rules and regulations of any securities exchange or automated quotation system upon which the Securities may be listed or traded or designated for issuance or to conform with any usage with respect thereto, or to indicate any special limitations
or restrictions to which any particular Securities are subject. 
 (b) All of the Securities shall be issued initially in the form of one or
more Global Securities, without interest coupons. which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Securities Custodian, at its Corporate Trust Office, as custodian for the depositary, The
Depository Trust Company (“DTC”) (such depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the
Company and authenticated by the Trustee as hereinafter provided. The Company has entered into a letter of representations with DTC in the form provided by DTC and the Trustee and each Agent are hereby authorized to act in accordance with such
letter and Applicable Procedures. 
 Each Global Security shall represent such of the outstanding Securities as shall be specified therein
and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of 

  
 11 

 
outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, purchases or conversions of such Securities. Any adjustment of the
aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the amount of outstanding Securities represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as
required by Section 2.12 and shall be made on the records of the Trustee and the Depositary. 
 Members of, or participants in, the
Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its
nominee) may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
(1) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or (2) impair, as between the Depositary and its
Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 
 (c) The Company
shall execute and the Trustee shall, in accordance with this Section 2.01(c), authenticate and deliver initially one or more Global Securities that (1) shall be registered in the name of the Depositary, (2) shall be delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instructions and (3) shall bear a legend substantially to the following effect: 

“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN
DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH

  
 12 

 
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.” 

Section 2.02. Execution and Authentication; Payments of Interest and Defaulted Amounts. (a) The Securities shall be issuable
only in registered form without coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. An Officer shall sign the Securities for the Company by manual or facsimile signature. Typographic and other minor errors
or defects in any such facsimile signature shall not affect the validity or enforceability of any Security which has been authenticated and delivered by the Trustee. If an Officer whose signature is on a Security no longer holds that office at the
time the Trustee authenticates the Security, the Security shall be valid nevertheless. A Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall
be conclusive evidence that the Security has been authenticated under this Indenture. 
 (b) The Trustee shall act as the initial
authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this
Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company. 

(c) The Trustee shall authenticate and make available for delivery Securities for original issue in the aggregate principal amount of up to
$350,000,000 (as increased by an amount equal to the aggregate principal amount of any additional Securities purchased by the Initial Purchasers pursuant to the exercise of their over-allotment option to purchase additional Securities as set forth
in the Purchase Agreement) upon receipt of a written order or orders of the Company signed by at least two Officers (a “Company Order”). The Company Order shall specify the amount of Securities to be authenticated, shall provide
that all such Securities will be represented by a Global Security and the date on which each original issue of Securities is to be authenticated. The Company at any time or from time to time may, without the consent of the Holders, reopen this
Indenture and issue additional Securities under this Indenture having the same ranking, interest rate, maturity and other terms as the Securities initially issued hereunder (other than differences in the issue date, issue price and interest accrued
prior to the issue date of such additional Securities) in an unlimited aggregate principal amount, and entitled to all of the benefits of this Indenture; provided that if any such additional Securities are not fungible with the Securities
initially issued hereunder for U.S. federal income tax purposes or securities laws purposes, such additional Securities shall have a separate CUSIP number. Such additional Securities shall, together with the Securities initially issued hereunder,
constitute a single series of Securities under this Indenture, including without limitation in determining the necessary Holders who may take the actions or consent to the taking of actions as specified in this Indenture. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such additional Securities, the Trustee shall receive, and, shall be fully protected in relying upon: (i) an Officers’ Certificate delivered in
accordance with Section 2.01 and Section 11.04 and (ii) an Opinion of Counsel which shall state (A) that the form and terms of such Securities have been established by or pursuant to a resolution of the Board of Directors in
accordance with Section 2.01 and Section 2.02 and in 

  
 13 

 
conformity with the provisions of this Indenture, (B) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization and other laws of general
applicability relating to or affecting the enforcement of creditors’ rights and to general equity principles, and (C) that all conditions precedent under this Indenture in respect of the execution and delivery by the Company of such
Securities have been complied with. 
 (d) Accrued interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. The Person in whose name any Security (or its predecessor) is registered on register of the Registrar at the close of business
on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest shall be payable at the office or agency of the Company maintained by the Company for such
purposes in the contiguous United States, which shall initially be the Corporate Trust Office. The Company shall pay interest (i) on any Certificated Securities by check mailed to the address of the registered Holder of such Note;
provided, however, that the Company will pay interest to any Holder of more than $2,000,000 aggregate principal amount of Certificated Securities by wire transfer in immediately available funds to an account within the United States
designated by such Holder in a written application delivered by such Holder to the Trustee and the Paying Agent not later than the Regular Record Date for the relevant Interest Payment Date, which application will remain in effect until such Holder
notifies the Trustee and Paying Agent, in writing, to the contrary or (ii) on any Global Security by wire transfer of immediately available funds to the account of the Depositary or its nominee. 

(e) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant payment date by virtue of its having been such
Holder but shall accrue interest per annum at the rate borne by the Securities, subject to the enforceability thereof under applicable law, from, and including, such relevant payment date to, but excluding, the date on which such Defaulted Amounts
shall have been paid by the Company, at its election in each case, as provided in subsection (i) or (ii) below: 

(i) The Company may elect to make payment of any Defaulted Amounts to the Persons in whose names the Securities (or their
respective predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Amounts, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of the Defaulted Amounts proposed to be paid on each Security and the date of the proposed payment (which shall be not less than 25 days after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date),
and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Amounts or shall make arrangements satisfactory to the Trustee for such deposit on or prior to
the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Amounts as in this clause provided. Thereupon the Company shall fix a special record date for the payment of
such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the 

  
 14 

 
notice of the proposed payment. The Company shall promptly notify the Trustee of such special record date and shall cause notice of the proposed payment of such Defaulted Amounts and the special
record date therefor to be delivered to each Holder, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Amounts and the special record date therefor having been so delivered, such Defaulted
Amounts shall be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such special record date and shall no longer be payable pursuant to the following subsection
(ii) of this Section 2.02(e). 
 (ii) The Company may make payment of any Defaulted Amounts in any other lawful manner
not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.03. Registrar, Paying Agent and Conversion Agent. The Company shall maintain one or more offices or agencies where
Securities may be presented for registration of transfer or for exchange (each, a “Registrar”), one or more offices or agencies where Securities may be presented for payment (each, a “Paying Agent”), one or more
offices or agencies where Securities may be presented for conversion (each, a “Conversion Agent”) and one or more offices or agencies where notices and demands to or upon the Company in respect of the Securities and this Indenture
may be served, such offices and agencies to be maintained in the contiguous United States. The Company will at all times maintain a Paying Agent, Conversion Agent, Registrar and an office or agency where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be made. The Registrar shall keep a register of the Securities and of their registration of transfer and exchange. The Company shall give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency. 
 The Company shall enter into an appropriate agency agreement with any Agent not a party
to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent not a party to this Indenture. If the
Company fails to maintain a Registrar, Paying Agent, Conversion Agent or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any
Affiliate of the Company may act as Paying Agent or Bid Solicitation Agent (except for the purposes of Section 5.01 and Article 9). Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall
automatically serve as Paying Agent for the Securities. 
 The Company hereby initially designates the Trustee as Paying Agent, Registrar,
Securities Custodian and Conversion Agent and each of the Corporate Trust Office of the Trustee and the office or agency of the Trustee as an office or agency of the Company for each of the aforesaid purposes; provided, that the Corporate Trust
Office shall not be the office or 

  
 15 

 
agency of the Company for the purposes of legal process against the Company. The Company shall initially act as the Bid Solicitation Agent under this Indenture. 

In the event that the Paying Agent receives funds in advance of any due date, the Paying Agent shall be entitled to invest such funds in the
U.S. Bank Money Market Deposit Account or any substantially similar successor account, any earnings on which shall be for the account of the Company. 

Section 2.04. Paying Agent to Hold Money in Trust. Prior to 11:00 a.m., New York City time, on each due date of the principal of
or interest on any Securities, the Company shall deposit with a Paying Agent a sum sufficient to pay such principal or interest so becoming due. A Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the
Paying Agent for the payment of principal of or interest on the Securities, and shall notify the Trustee of any default by the Company (or any other obligor on the Securities) in making any such payment. If the Company or an Affiliate of the Company
acts as Paying Agent, it shall, before 11:00 a.m., New York City time, on each due date of the principal of or interest on any Securities, segregate the money and hold it as a separate trust fund for the benefit of the Holders. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee, and the Trustee may at any time during the continuance of any default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith to the Trustee all
sums so held in trust by such Paying Agent. Upon doing so, the Paying Agent (other than the Company) shall have no further liability for the money. 

Section 2.05. Holder. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of the Holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least seven Business Days before each semiannual interest payment date, and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 

Section 2.06. Transfer and Exchange; Transfer Restrictions. (a) Subject to compliance with any applicable additional
requirements contained in Section 2.12, when a Security is presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the
Registrar shall register the transfer or make the exchange as requested; provided, however, that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by an assignment
form in form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at
an office or agency maintained pursuant to Section 2.03, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or registration of transfer
shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto, and provided, that this sentence shall not apply
to any exchange pursuant to Section 2.07, Section 2.10, Section 3.09, Section 4.02(d) or Section 10.05. 

  
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 Neither the Company, any Registrar nor the Trustee shall be required to exchange or register a
transfer of any Securities or portions thereof selected for Optional Redemption or in respect of which a Repurchase Exercise Notice pursuant to Section 3.05(c) has been delivered and not validly withdrawn by the Holder thereof (except, in the case
of an Optional Redemption of a Security in part, purchase of a Security in part, or conversion of a Security in part, the portion thereof not to be redeemed, purchased or converted, as the case may be). 

All Securities issued upon any registration of transfer or exchange of Securities shall be valid obligations of the Company, evidencing the
same debt and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. The registered Holder of a Security will be treated as its owner for all purposes. 

(b) Any Registrar appointed pursuant to Section 2.03 shall provide to the Trustee such information as the Trustee may reasonably require
in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 
 (c) Each Holder agrees to
indemnify the Company, each Registrar and the Trustee against any liability that may result from the registration of transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable
United States federal or state securities law. 
 (d) Every Security that bears or is required under this Section 2.06(d) to bear the legend
set forth in this Section 2.06(d) (together with any Common Stock issued upon conversion of the Securities that is required to bear the legend set forth in Section 2.06(e), collectively, the “Restricted Securities”) shall be subject
to the restrictions on transfer set forth in this Section 2.06(d) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of the Company, and the Holder of each such
Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.06(d) and Section 2.06(e), the term “transfer” encompasses any sale, pledge, transfer or
other disposition whatsoever of any Restricted Security. 
 Until the date (the “Resale Restriction Termination Date”) that
is the later of (1) the date that is one year after the last date of original issuance of the Securities, or such shorter period of time as permitted by Rule 144 under the Securities Act or any successor provision thereto, and
(2) such later date, if any, as may be required by applicable law, any certificate evidencing such Security (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion
thereof, which shall bear the legend set forth in Section 2.06(e), if applicable) shall bear a legend in substantially the following form (unless such Securities have been transferred pursuant to a registration statement that has become or been
declared effective under the Securities Act and that continues to be effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities
Act, or unless otherwise agreed by the Company in writing, with notice thereof to the Trustee): 
 THIS SECURITY AND THE COMMON STOCK, IF
ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE 

  
 17 

 
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 (1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT
IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND 

(2) AGREES FOR THE BENEFIT OF DEXCOM, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY
SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO THE
COMPANY OR ANY SUBSIDIARY OF THE COMPANY, OR 
 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE
SECURITIES ACT, OR 
 (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), OR ANY OTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE
WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN
COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

No transfer of any Security prior to the Resale Restriction Termination Date will be registered by the Security Registrar unless the
applicable box on the Form of Assignment and Transfer has been checked. 

  
 18 

 Any Security (or security issued in exchange or substitution therefor) as to which such
restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Security for exchange to the Security Registrar in accordance with the provisions of this Section 2.06, be exchanged for a new Security or
Securities, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by this Section 2.06(d) and shall not be assigned a restricted CUSIP number. The Company shall be entitled to instruct the Securities
Custodian in writing to so surrender any Global Security as to which such restrictions on transfer shall have expired in accordance with their terms for exchange pursuant to Applicable Procedures, and, upon such instruction, the Securities Custodian
shall so surrender such Global Security for exchange; and any new Global Security so exchanged therefor shall not bear the restrictive legend specified in this Section 2.06(d) and shall not be assigned a restricted CUSIP number. The Company shall
promptly notify the Trustee upon the occurrence of the Resale Restriction Termination Date and promptly after a registration statement, if any, with respect to the Securities or any Common Stock issued upon conversion of the Securities has been
declared effective under the Securities Act. 
 (e) Until the Resale Restriction Termination Date, any stock certificate representing Common
Stock issued upon conversion of such Security shall bear a legend in substantially the following form (unless the Security or such Common Stock has been transferred pursuant to a registration statement that has become or been declared effective
under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or such Common Stock
has been issued upon conversion of Securities that have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or
pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer agent for
the Common Stock): 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 

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

(2) AGREES FOR THE BENEFIT OF DEXCOM, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE SERIES OF SECURITIES UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER
PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR 

  
 19 

 
PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 

(A) TO THE COMPANY OR ANY SUBSIDIARY OF THE COMPANY, OR 

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 

(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D)
ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED
TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

Any such Common Stock as to which such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of the
certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common
Stock, which shall not bear the restrictive legend required by this Section 2.06(e). 
 Any Security or Common Stock issued upon the
conversion or exchange of a Security that is repurchased or owned by any Affiliate of the Company (or any Person who was an Affiliate of the Company at any time during the three months preceding) may not be resold by such Affiliate (or such Person,
as the case may be) unless registered under the Securities Act or resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction that results in such Security or Common Stock, as the case may be, no longer
being a “restricted security” (as defined under Rule 144 under the Securities Act). The Company shall cause any Security that is repurchased or owned by it or any of its Subsidiaries to be surrendered to the Trustee for cancellation
in accordance with Section 2.11. 
 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with
any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any
Global Security) other 

  
 20 

 than to require delivery of such certificates and other documentation or evidence as are expressly required by,
and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. Neither the Trustee nor
any Agent shall have any responsibility or obligation to any beneficial owner of an interest in a Global Security, Agent Members or any other Persons with respect to the accuracy of the records of DTC or its nominee or of Agent Members, with respect
to any ownership interest in the Securities or with respect to the delivery to any Agent Member, beneficial owner or other Person (other than DTC) of any notice or the payment of any amount or delivery of any Securities (or other security or
property) under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Securities shall be given or made only to or upon the order of the registered
Holders (which shall be DTC or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through DTC, subject to Applicable Procedures. The Trustee may rely and shall be fully
protected in relying upon information furnished by DTC with respect to its Agent Members and any beneficial owners. 
 The Trustee shall
have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers
between or among Agent Members or beneficial owners in any Security Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms
of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

Section 2.07. Replacement Securities. If any mutilated Security is surrendered to the Company, a Registrar or the Trustee, or the
Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company, the applicable Registrar (with respect to itself) and the Trustee (with respect to itself) such security or
indemnity as will be required by them to save each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute, and upon its
written request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, or is about to be repurchased by the Company pursuant to Article 3, the Company in its discretion may, instead of issuing a new Security, pay or repurchase such Security, as the case may be. 

Upon the issuance of any new Securities under this Section 2.07, the Company may require the payment of a sum sufficient to cover any
tax, assessment or other governmental 

  
 21 

 
charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in connection therewith. 

Every new Security issued pursuant to this Section 2.07 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an
original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of (but shall be subject to all the
limitations set forth in) this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 
 The
provisions of this Section 2.07 are (to the extent lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.08. Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee, except
for those canceled by it, those converted pursuant to Article 4, those delivered to it for cancellation or surrendered for transfer or exchange and those described in this Section 2.08 as not outstanding. 

If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that
the replaced Security is held by a protected purchaser. 
 If a Paying Agent (other than the Company or an Affiliate of the Company) holds
on the Maturity Date money sufficient to pay the principal of and accrued interest on Securities (or portions thereof) payable on that date, then on and after such Maturity Date such Securities (or portions thereof, as the case may be) shall cease
to be outstanding and interest on them shall cease to accrue. 
 Subject to the restrictions contained in Section 2.09, a Security does
not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 
 Section 2.09. Treasury
Securities. In determining whether the Holders of the required principal amount of Securities have concurred in any notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate
of the Company or of such other obligor shall be disregarded, except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities that a Responsible Officer of
the Trustee actually knows are so owned shall be so disregarded. Securities so owned that have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with
respect to the Securities and that the pledgee is not the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. 

Section 2.10. Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and execute, and,
upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the form of Certificated Securities but may have variations that the Company considers appropriate for
temporary Securities and as shall be reasonably acceptable to the Trustee. Without 

  
 22 

 
unreasonable delay, the Company shall prepare and the Trustee, upon receipt of a Company Order, shall authenticate and deliver definitive Securities in exchange for temporary Securities. Holders
of temporary Securities shall be entitled to all the benefits of and subject to the same limitations under this Indenture as Certificated Securities authenticated and delivered hereunder. 

Section 2.11. Cancellation; Repurchase. The Company shall cause all Securities surrendered for the purpose of payment, purchase
upon a Fundamental Change in accordance with Article 3, repurchase, redemption, registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s Agents, Subsidiaries or
Affiliates), to be delivered to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any Securities surrendered to them for registration of transfer, exchange, payment or
conversion. The Company shall instruct the Trustee in writing to cancel all Securities surrendered by it to the Trustee, and the Trustee shall cancel all Securities surrendered to it for the purpose of payment, repurchase, registration of transfer,
exchange, repurchase, conversion or cancellation, and the Trustee and no one else shall promptly cancel, in accordance with its standard procedures, all Securities so surrendered and shall dispose of canceled Securities (subject to the record
retention requirements of the Trustee and the Exchange Act), in accordance with its standard procedures, and no Securities shall be authenticated in exchange thereof except as expressly permitted by any of the provisions of this Indenture. The
Company may not hold or resell such Securities or issue new Securities to replace Securities that it has purchased or otherwise acquired or that have been delivered to the Trustee for cancellation. 

The Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Securities are surrendered to the
Company), repurchase Securities in the open market, by tender offer or exchange offer, by private agreement through counterparties or otherwise, whether by the Company or its Subsidiaries, including by cash-settled swaps or other derivatives and, in
each case, at any price. The Company shall cause any Securities so purchased (other than Securities repurchased pursuant to cash-settled swaps or other derivatives that are not physically settled) to be surrendered to the Trustee for cancellation in
accordance with this Section 2.11, and they shall no longer be considered outstanding under this Indenture upon their repurchase. Any Securities held by the Company or one of its Subsidiaries shall be disregarded for voting purposes in
connection with any notice, waiver, consent or direction requiring the vote or concurrence of Holders. 
 Section 2.12. Additional
Transfer and Exchange Requirements. (a) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be
registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of a Security to any Person shall be effective under this
Indenture or the Securities unless and until such Security has been registered in the name of such Person. Notwithstanding any other provisions of this Indenture or the Securities, transfers of a Global Security, in whole or in part, shall be made
only in accordance with this Section 2.12. 
 (b) The provisions of subsections (i), (ii), (iii) and (iv) below shall apply
only to Global Securities: 

  
 23 

 (i) Notwithstanding any other provisions of this Indenture or the Securities, a
Global Security shall not be exchanged in whole or in part for a Security registered in the name of any Person other than the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Certificated
Securities registered in the names of any Person designated by the Depositary in the event that (A) the Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or the Depositary has
ceased to be a “clearing agency” registered under the Exchange Act, and a successor Depositary is not appointed by the Company within 90 days or (B) an Event of Default has occurred and is continuing and a beneficial owner requests
through DTC that its Securities be exchanged for Certificated Securities. Any Global Security exchanged pursuant to clause (A) above shall be so exchanged in whole and not in part, and any Global Security exchanged pursuant to clause
(B) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided that any such Security so
issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security. 

(ii) Securities issued in exchange for a Global Security or any portion thereof shall be issued in fully-registered book-entry
form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall
designate and shall bear any applicable legend provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any Global Security to be exchanged in part, either
such Global Security shall be so surrendered for exchange or, if the Trustee is acting as Securities Custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced, by an amount equal
to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon
the order of the Depositary or an authorized representative thereof; provided, however, that any Global Security surrendered for exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the
proviso to the first paragraph of Section 2.06(a). 
 (iii) Subject to the provisions of subsection (v) below, the
registered Holder may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities.

 (iv) In the event of the occurrence of any of the events specified in subsection (i) above, the Company will promptly
make available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons. 

(v) Neither Agent Members nor any other Persons on whose behalf Agent Members may act shall have any rights under this
Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, or under any 

  
 24 

 
such Global Security, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and
Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or
other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of customary practices of such
Persons governing the exercise of the rights of a Holder of any Security. 
 (c) In the event that Certificated Securities are issued in
exchange for beneficial interests in Global Securities and, thereafter, the events or conditions specified in Section 2.12(b)(i) that required such exchange shall cease to exist, the Company shall deliver notice to the Trustee and to the Holders
stating that Holders may exchange Certificated Securities for interests in Global Securities by complying with the procedures set forth in this Indenture and briefly describing such procedures and the events or circumstances requiring that such
notice be given. Thereafter, if Certificated Securities are presented by a Holder to a Registrar with a request: 
 (i) to
register the transfer of such Certificated Securities to a Person who will take delivery thereof in the form of a beneficial interest in a Global Security; or 

(ii) to exchange such Certificated Securities for an equal principal amount of beneficial interests in a Global Security, which
beneficial interests will be owned by the Holder transferring such Certificated Securities, 
 the Registrar shall register the transfer or make the
exchange as requested by canceling such Certificated Securities and causing, or directing the Securities Custodian to cause, the aggregate principal amount of the applicable Global Security to be increased accordingly and, if no such Global Security
is then outstanding, the Company shall issue and the Trustee, upon receipt of a Company Order, shall authenticate and deliver a new Global Security; provided, however, that the Certificated Securities presented or surrendered for
registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to the first paragraph of Section 2.06(a). 

Section 2.13. CUSIP Numbers. The Company in issuing the Securities may use one or more “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Securities or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Securities, and any such notice or related action by the Company contemplated thereby shall not be
affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 

  
 25 

 ARTICLE 3 

OPTIONAL REDEMPTION; REPURCHASE UPON A FUNDAMENTAL
CHANGE 
 Section 3.01. Optional Redemption. No sinking fund is provided for the Securities. The Securities shall
not be redeemable by the Company prior to May 15, 2020. On or after May 15, 2020, the Company may redeem (an “Optional Redemption”) for cash all or any portion of the Securities, at the Redemption Price, if the Last
Reported Sale Price of the Common Stock has been at least 140% of the Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during any 30 consecutive Trading Day period (including the last trading day of such
period) ending on, and including, the Trading Day immediately preceding the date on which the Company provides the Redemption Notice in accordance with Section 3.02. 

Section 3.02. Notice of Optional Redemption; Selection of Securities. (a) In case the Company exercises its Optional
Redemption right to redeem all or, as the case may be, any part of the Securities pursuant to Section 3.01, it shall fix a date for redemption (each, a “Redemption Date”) and it or, at its written request received by the
Trustee not less than five calendar days prior to date such notice is to be sent (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name of and at the expense of the Company, shall deliver or cause to be
delivered a notice of such Optional Redemption (a “Redemption Notice”) not less than 30 nor more than 60 calendar days prior to the Redemption Date to each Holder of Securities so to be redeemed as a whole or in part; provided,
however, that, if the Company shall give such notice, it shall also give written notice of the Redemption Date to the Trustee and the Paying Agent (if other than the Trustee). The Redemption Date must be a Business Day. 

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

(i) the Redemption Date; 

(ii) the Redemption Price; 

(iii) that on the Redemption Date, the Redemption Price will become due and payable upon each Security to be redeemed, and that
interest thereon, if any, shall cease to accrue on and after the Redemption Date; 
 (iv) the place or places where such
Securities are to be surrendered for payment of the Redemption Price; 
 (v) that Holders may surrender their Securities for
conversion at any time prior to the close of business on the Scheduled Trading Day immediately preceding the Redemption Date; 

  
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 (vi) the procedures a converting Holder must follow to convert its Securities;

 (vii) the Conversion Rate and, if applicable, the number of Additional Shares added to the Conversion Rate in accordance
with Section 4.04; 
 (viii) the CUSIP, ISIN or other similar numbers, if any, assigned to such Securities; and 

(ix) in case any Security is to be redeemed in part only, the portion of the principal amount thereof to be redeemed and on and
after the Redemption Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued. 

      A Redemption Notice shall be revocable. 

(d) If fewer than all of the outstanding Securities are to be redeemed, the Trustee shall select the Securities or portions thereof of a Global
Security or the Securities in certificated form to be redeemed (in principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the Trustee considers to be fair and appropriate and in the case of Global
Securities, subject to the applicable procedures of DTC. If any Security selected for partial redemption is submitted for conversion in part after such selection, the portion of the Security submitted for conversion shall be deemed (so far as may be
possible) to be the portion selected for redemption. 
 Section 3.03. Payment of Securities Called for Redemption. (a) If
any Redemption Notice has been given in respect of the Securities in accordance with Section 3.02, the Securities shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable
Redemption Price. On presentation and surrender of the Securities at the place or places stated in the Redemption Notice, the Securities shall be paid and redeemed by the Company at the applicable Redemption Price. 

(b) Prior to the open of business on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary of
the Company is acting as the Paying Agent, shall segregate and hold in trust an amount of cash (in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Securities to be redeemed on
such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Securities to be redeemed shall be made on the Redemption Date for such Securities. The Paying Agent shall, promptly after such payment and upon written demand by
the Company, return to the Company any funds in excess of the Redemption Price. 
 Section 3.04. Restrictions on Redemption. The
Company may not redeem any Securities on any date if the principal amount of the Securities has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except
in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). 

Section 3.05. Repurchase at Option of the Holder Upon a Fundamental Change. (a) Subject to the satisfaction of the
requirements of this Article 3, if a Fundamental Change 

  
 27 

 
occurs at any time prior to May 15, 2022, each Holder shall have the right, at its option, to require the Company to repurchase for cash all of their Securities, or any portion of the
principal thereof that is equal to $1,000 or an integral multiple of $1,000 at a repurchase price (the “Fundamental Change Repurchase Price”) equal to 100% of the principal amount of the Securities to be repurchased plus accrued and
unpaid interest, if any, to, but excluding, the Fundamental Change Repurchase Date (unless such Fundamental Change Repurchase Date falls after a Regular Record Date and on or prior to the corresponding Interest Payment Date, in which case the
Company shall pay the full amount of accrued and unpaid interest payable on such Interest Payment Date to the Holder of record at the close of business on such Regular Record Date and the Fundamental Change Repurchase Price shall be equal to 100% of
the principal amount of the Securities to be repurchased). 
 (b) On or before the tenth Business Day after the date on which a Fundamental
Change becomes effective, the Company shall provide to all Holders of the Securities, the Trustee and the Conversion Agent (if other than the Trustee) a notice of the occurrence of the Fundamental Change and of the resulting repurchase right (the
“Fundamental Change Repurchase Right Notice”). The Fundamental Change Repurchase Right Notice shall state: 

(i) the event or events giving rise to the Fundamental Change; 

(ii) if the Fundamental Change also constitutes a Make-Whole Fundamental Change; 

(iii) if applicable, the Conversion Rate and any adjustments to the Conversion Rate; 

(iv) the effective date of the Fundamental Change; 

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

(vi) the Fundamental Change Repurchase Price; 

(vii) the Fundamental Change Repurchase Date; 

(viii) the name and address of the Paying Agent and the Conversion Agent; 

(ix) that the Securities with respect to which a Repurchase Exercise Notice has been given by the Holder may be converted only
if the Holder withdraws the Repurchase Exercise Notice as described in Section 3.05(d); and 
 (x) the procedures that
Holders must follow to require the Company to repurchase their Securities. 
 Simultaneously with providing the Fundamental Change
Repurchase Right Notice, the Company shall publish the information on the Company’s website or through a public medium the Company may use at that time. 

  
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 (c) To exercise the repurchase right in connection with a Fundamental Change, a Holder must
deliver, prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, the Securities to be purchased to the Paying Agent, duly endorsed for transfer, or effect book-entry transfer of the Securities
to the Paying Agent, together with a written notice exercising its right to require the Company to repurchase its Securities or a portion thereof (a “Repurchase Exercise Notice”), substantially in the form included in Exhibit A
hereto, duly completed, to the Paying Agent. The Repurchase Exercise Notice must state: 
 (i) if the Securities are
Certificated Securities, the certificate numbers of the Securities to be delivered for repurchase; 
 (ii) the portion of the
principal amount of the Securities to be repurchased, which must be equal to $1,000 or an integral multiple thereof; and 

(iii) that the Securities are to be repurchased by the Company as of the Fundamental Change Repurchase Date pursuant to the
applicable provisions of the Securities and this Indenture. 
 If the Securities are Global Securities, the Repurchase Exercise Notice must
comply with the Applicable Procedures. 
 A Holder may withdraw any Repurchase Exercise Notice (in whole or in part) by a written notice of
withdrawal delivered to the Paying Agent prior to the close of business on the Business Day prior to the Fundamental Change Repurchase Date. The notice of withdrawal must state: 

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

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

(iii) the principal amount, if any, that remains subject to the Repurchase Exercise Notice. 

If the Securities are Global Securities, the withdrawal notice must comply with the Applicable Procedures. 

(d) The Company must repurchase the Securities on a date (the “Fundamental Change Repurchase Date”) chosen by the Company that
is no less than 20 and no more than 35 Business Days after the date of the Fundamental Change Repurchase Right Notice with respect to the occurrence of the relevant Fundamental Change. To receive payment of the Fundamental Change Repurchase Price, a
Holder must either effect book-entry transfer or deliver the Securities, together with necessary endorsements, to the office of the Paying Agent after delivery of the Repurchase Exercise Notice. Holders shall receive payment of the Fundamental
Change Repurchase Price on the later of (i) the Fundamental Change Repurchase Date and (ii) the time of book-entry transfer or the delivery of the Securities. If the Paying Agent holds by 11:00 a.m.

  
 29 

 
New York City time money deposited by the Company sufficient to pay the Fundamental Change Repurchase Price of the Securities on the Fundamental Change Repurchase Date, then with respect to the
Securities that have been properly surrendered for repurchase and have not been validly withdrawn: 
 (i) the Securities will
cease to be outstanding and interest, if any, will cease to accrue (whether or not book-entry transfer of the Securities is made or whether or not the Securities are delivered to the Paying Agent); and 

(ii) all other rights of the Holder of such Securities will terminate (other than the right to receive the Fundamental Change
Repurchase Price upon delivery or transfer of the Securities). 
 Section 3.06. Compliance with Securities Laws Upon Purchase of
Securities. (a) In connection with any offer to purchase the Securities under Section 3.05, the Company shall comply with all tender offer rules applicable to the Company under the Exchange Act. The Company shall (a) comply with
the provisions of Rule 13e-4, Rule 14e-l (or any successor to either such Rule) and any other tender offer rules, if applicable, under the Exchange Act,
(b) file a Schedule TO (or any successor or similar schedule, form or report), if required, under the Exchange Act and (c) otherwise comply with all federal and state securities laws in connection with such offer by the Company to
purchase the Securities upon a Fundamental Change, so as to permit the rights of the Holders and obligations of the Company under Section 3.05 to be exercised in the time and in the manner specified therein. To the extent that the provisions of
any securities laws or regulations conflict with the provisions of this Section 3.06, the Company, shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this
Section 3.06 by virtue of such conflict. 
 Section 3.07. No Repurchase Upon Acceleration. No Securities may be repurchased
on any date at the option of Holders upon a Fundamental Change if the principal amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of an acceleration resulting
from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Securities). The Paying Agent will promptly return to the respective Holders thereof any Certificated Securities held by it following the
acceleration of the Securities (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Securities), and any instructions for book-entry transfer of
the Securities in compliance with the procedures of the Depositary shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to
have been withdrawn. 
 Section 3.08. Repayment to the Company. To the extent that the aggregate amount of cash deposited by the
Company pursuant to Section 3.05 exceeds the aggregate Fundamental Change Repurchase Price of the Securities or portions thereof that the Company is obligated to purchase, then promptly after the Fundamental Change Repurchase Date, the Trustee
or a Paying Agent, as the case may be, shall return any such excess cash to the Company. 

  
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 Section 3.09. Partial Repurchase. Upon surrender of a Security that is to be
repurchased in part pursuant to Section 3.05, the Company shall execute and the Trustee shall authenticate and deliver (or transfer by book entry) to the Holder a new Security in an authorized denomination equal in principal amount to the
unrepurchased portion of the Security surrendered. 
 ARTICLE 4 

CONVERSION 

Section 4.01. Conversion Rights. (a) Subject to and upon compliance with the provisions of this Article 4, each Holder of a
Security shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Security (i) subject to satisfaction of one or more
of the conditions described in subsections (b) through (g) of this Section 4.01, at any time prior to the close of business on the Business Day immediately preceding February 15, 2022 under the circumstances and during the
periods set forth in subsections (b) through (g) of this Section 4.01, and (ii) irrespective of the conditions set forth in subsections (b) through (g) of this Section 4.01, on or after February 15, 2022 and
prior to the close of business on the Business Day immediately preceding May 15, 2022, in each case at an initial conversion rate of 10.0918 shares of Common Stock (subject to adjustment as provided in Section 4.05, the “Conversion
Rate”) per $1,000 principal amount of Securities (subject to the settlement provisions of Section 4.02, the “Conversion Obligation”). 

(b) Prior to the close of business on the Business Day immediately preceding February 15, 2022, a Holder may surrender all or any portion
of its Securities for conversion during any calendar quarter commencing after the calendar quarter ending on September 30, 2017 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading
Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day.
Neither the Trustee nor any Agent shall have any obligation to make any calculation or to determine whether the Securities may be surrendered for conversion, or to notify the Company, the Depositary, DTC or any of the Holders of the Securities if
the Securities have become convertible. 
 (c) Prior to the close of business on the Business Day immediately preceding February 15,
2022, a Holder of the Securities may surrender all or any portion of its Securities for conversion during the five Business Day period after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading
Price per $1,000 principal amount of the Securities, as determined following a request by a Holder of the Securities in accordance with the procedures described below, for each Trading Day of the Measurement Period was less than 98% of the product
of the Last Reported Sale Price of Common Stock and the Conversion Rate on each such Trading Day. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price of the Securities unless the Company has
requested such determination in writing; and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, it shall have no obligation to determine the Trading Price) unless a Holder of at least
$2.0 million in aggregate principal amount of the 

  
 31 

 
Securities requests in writing that the Company make such a determination and provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities
would be less than 98% of the product of the Last Reported Sale Price of Common Stock and the Conversion Rate. At such time, the Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine (and such Bid Solicitation
Agent shall provide such determination to the Company), or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Securities beginning on the next Trading Day and on each
successive Trading Day until the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of Common Stock and the Conversion Rate. If the Bid Solicitation Agent (if other
than the Company) determines (or if the Company is acting as the Bid Solicitation Agent, the Company determines) that the trading price condition has been met, the Company shall notify in writing the Holders, the Trustee and the Conversion Agent (if
other than the Trustee). If, at any time after the trading price condition has been met, the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of Common Stock and
the Conversion Rate for such date, the Company shall notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee). If (i) the Company is not acting as the Bid Solicitation Agent, and the Company does not, when it is
required to do so, instruct the Bid Solicitation Agent to obtain bids, or if the Company gives such instruction to the Bid Solicitation Agent and the Bid Solicitation Agent fails to make such determination; or (ii) if the Company is acting as
Bid Solicitation Agent and it fails to make such determination, then, in either case, the Trading Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Last Reported Sale Price of Common Stock and
the Conversion Rate for each Trading Day on which such failure occurs. 
 (d) If the Company calls any or all of the Securities for
redemption pursuant to Article 3 prior to the close of business on the Business Day immediately preceding February 15, 2022, then Holder may surrender all or any portion of its Notes for conversion at any time prior to the close of business on
the Scheduled Trading Day prior to the Redemption Date, even if the Securities are not otherwise convertible at such time. After that time, the right to convert shall expire, unless the Company defaults in the payment of the Redemption Price, in
which case a Holder of Securities may convert its Securities until the Redemption Price has been paid or duly provided for. 
 (e) If, prior
to the close of business on the Business Day immediately preceding February 15, 2022, the Company elects to: 
 (i)
issue to all or substantially all holders of Common Stock any rights, options or warrants (other than pursuant to a stockholder rights plan in connection with the initial adoption by the Company, so long as such rights have not separated from the
Common Stock and are not exercisable until the occurrence of a triggering event, except that such rights will be deemed to be issued under this Section 4.01(e)(i) upon their separation from the Common Stock or upon the occurrence of such triggering
event) entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale
Prices of the Common Stock 

  
 32 

 
for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 

(ii) distribute to all or substantially all holders of Common Stock, the Company’s assets, securities or rights to
purchase the Company’s securities, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of
announcement of such distribution; 
 then, in either case, the Company shall notify in writing the Holders of the Securities (with a copy
of such notice to the Trustee and the Conversion Agent (if other than the Trustee)) at least 30 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has
given such notice, Holders may surrender all or any portion of their Securities for conversion at any time until the earlier of (A) the close of business on the Business Day immediately preceding the
Ex-Dividend Date for such issuance or distribution and (B) the Company’s announcement that such issuance or distribution will not take place, even if the Securities are not otherwise convertible at
such time. No Holder may convert any of its Securities pursuant to the conditions set forth in this Section 4.01(d)(e) if such Holder otherwise participates in such issuance or distribution, at the same time and upon the same terms as holders of
Common Stock and as a result of holding the Securities, without having to convert their Securities, as if they held a number of shares of Common Stock equal to the applicable Conversion Rate, multiplied by the principal amount (expressed in
thousands) of Securities held by such Holder. 
 (f) If a transaction or event that constitutes a Fundamental Change or Make-Whole
Fundamental Change occurs, regardless of whether a Holder of the Securities has the right to require the Company to repurchase the Securities pursuant to Section 3.05, or if the Company is a party to a consolidation, merger, binding share
exchange, or transfer or lease of all or substantially all of the Company’s assets, in each case pursuant to which Common Stock would be converted into cash, securities or other assets, then all or any portion of a Holder’s Securities may
be surrendered for conversion at any time from or after the effective date of the transaction until 35 Trading Days after the effective date of such transaction or, if such transaction also constitutes a Fundamental Change, until the related
Fundamental Change Repurchase Date. The Company shall notify in writing the Holders, the Trustee and the Conversion Agent (if other than the Trustee) (i) at least 10 Scheduled Trading Days prior to the anticipated effective date of such
transaction or (ii) if the Company has not publicly announced such transaction at least 10 Scheduled Trading Days prior to the anticipated effective date of such transaction, then within one Business Day of the day the Company publicly
announces such transaction, and in no event later than the actual effective date of such transaction. 
 (g) On or after February 15,
2022, a Holder may convert all or any portion of its Securities at any time prior to the close of business on the Business Day immediately preceding May 15, 2022. 

Section 4.02. Settlement Upon Conversion; Conversion Procedures. (a) Subject to this Section 4.02, Section 4.04 and
Section 4.07, upon conversion of any Security, the Company shall pay or deliver, as the case may be, to the converting Holder, in respect of each $1,000 principal 

  
 33 

 
amount of Securities being converted, cash (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in
accordance with subsection (i) of this Section 4.02 (“Physical Settlement”) or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in
accordance with subsection (i) of this Section 4.02 (“Combination Settlement”), at its election, as set forth in this Section 4.02. 

(i) All conversions for which the relevant Conversion Date occurs on or after February 15, 2022, and all conversions for
which the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice with respect to the Securities and prior to the related Redemption Date, shall be settled using the same Settlement Method. Except for conversions of
Securities described in the preceding sentence, the Company shall use the same Settlement Method for all conversions occurring on the same Conversion Date, but the Company shall not have any obligation to use the same Settlement Method with respect
to conversions with different Conversion Dates. If, in respect of any Conversion Date (or with respect to the period beginning on, and including, February 15, 2022 and ending on, and including, the Business Day immediately preceding
May 15, 2022, as the case may be), the Company elects to deliver a notice (the “Settlement Notice”) of the relevant Settlement Method in respect of such Conversion Date (or such period, as the case may be), the Company shall
deliver such Settlement Notice in writing to converting Holders, the Trustee and the Conversion Agent no later than the close of business on the Trading Day immediately following the relevant Conversion Date (or, in the case of any conversions of
Securities for which the relevant Conversion Date occurs (A) after the date of the Company’s issuance of a Redemption Notice with respect to the Securities pursuant to Section 3.02 and prior to the related Redemption Date, in such
Redemption Notice, or (B) on or after February 15, 2022, no later than the Business Day immediately preceding February 15, 2022). If the Company does not elect a Settlement Method prior to the deadline set forth in the immediately
preceding sentence, the Company shall no longer have the right to elect Cash Settlement or Physical Settlement with respect to such Securities and the Company shall be deemed to have elected Combination Settlement in respect of its Conversion
Obligation, and the Specified Dollar Amount per $1,000 principal amount of Securities shall be deemed to be $1,000. Such Settlement Notice shall be prepared by the Company and shall specify the relevant Settlement Method and, in the case of an
election of Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount. If the Company elects Combination Settlement but does not timely notify in writing converting Holders, the Trustee and the Conversion
Agent of the Specified Dollar Amount per $1,000 principal amount of Securities to be converted, such Specified Dollar Amount will be deemed to be $1,000. 

(ii) With respect to any conversion of Securities, the cash, shares of Common Stock or combination of cash and shares of Common
Stock in respect of such conversion (the “Settlement Amount”) shall be computed as follows: 
 (A) if the
Company elects to satisfy its Conversion Obligation in respect of such conversion by Physical Settlement, the Company shall deliver to the converting Holder in respect of each $1,000 principal amount of Securities

  
 34 

 
being converted a number of shares of Common Stock equal to the Conversion Rate on the Conversion Date; 

(B) if the Company elects to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company
shall pay to the converting Holder in respect of each $1,000 principal amount of Securities being converted cash in an amount equal to the sum of the Daily Conversion Values for each of the 20 consecutive Trading Days during the related Observation
Period; and 
 (C) if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of
such conversion by Combination Settlement, the Company shall pay or deliver, as the case may be, in respect of each $1,000 principal amount of Securities being converted, a Settlement Amount equal to the sum of the Daily Settlement Amounts for each
of the 20 consecutive Trading Days during the related Observation Period. 
 (iii) The Daily Settlement Amounts (if
applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly following the last day of the Observation Period. Promptly after such determination of the Daily Settlement Amounts or the Daily Conversion
Values, as the case may be, and the amount of cash payable in lieu of any fractional share, the Company shall notify the Trustee and the Conversion Agent (if other than the Trustee) of the Daily Settlement Amounts or the Daily Conversion Values, as
the case may be, and the amount of cash payable in lieu of fractional shares of Common Stock. 
 (b) Subject to Section 4.02(e), before any
Holder of a Security shall be entitled to convert a Security as set forth above, such Holder shall (i) in the case of a Certificated Security (A) complete and deliver an irrevocable notice to the Conversion Agent as set forth in the Form
of Conversion Notice attached to the Form of Security set forth in Exhibit A hereto (a “Conversion Notice”) at the office of the Conversion Agent and state in writing therein the principal amount of Securities to be converted
and the name or names (with addresses) in which such Holder wishes the certificate or certificates for any shares of Common Stock to be delivered by the Company or its agent upon settlement of the Conversion Obligation to be registered,
(B) deliver such Security, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement and transfer documents), to the Conversion Agent and (C) if required, pay funds equal to interest payable on the next Interest
Payment Date to which such Holder is not entitled as set forth in subsection (g) of this Section 4.02 and (ii) in the case of a Global Security, comply with the Depositary’s procedures for converting a beneficial interest in a
Global Security and, if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in subsection (g) of this Section 4.02. The Trustee (and, if different, the
Conversion Agent) shall notify the Company of any conversion pursuant to this Article 4 on the Conversion Date for such conversion. No Conversion Notice with respect to any Securities may be surrendered by a Holder thereof if such Holder has also
delivered a Fundamental Change Repurchase Notice to the Company in respect of such Securities and not validly withdrawn such Fundamental Change Repurchase Notice in accordance with Section 3.05(c). 

  
 35 

 If more than one Security shall be surrendered for conversion at one time by the same Holder, the
Conversion Obligation with respect to such Securities shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted thereby) so surrendered. 

(c) A Security shall be deemed to have been converted immediately prior to the close of business on the Business Day (the “Conversion
Date”) that the Holder has complied with the requirements set forth in subsection (b) above; provided that in the case of a Global Security, no Holder shall be deemed to have complied with the requirements set forth in
subsection (b) above on any Business Day that the Depositary is not open for business. The Company shall pay or deliver, as the case may be, the consideration due in respect of the Conversion Obligation on the third Business Day immediately
following the relevant Conversion Date, in the case of Physical Settlement, or on the third Business Day immediately following the last Trading Day of the Observation Period, in the case of any other Settlement Method. If any shares of Common Stock
are due to converting Holders, the Company shall issue or cause to be issued, and deliver to such Holder, or such Holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary for the full number of shares of Common
Stock to which such Holder shall be entitled in satisfaction of the Company’s Conversion Obligation. 
 (d) In case any Security shall
be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Security so surrendered a new Security or Securities in authorized denominations in an
aggregate principal amount equal to the unconverted portion of the surrendered Security, without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any
transfer tax or similar governmental charge required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Securities issued upon such conversion being different from the name of the Holder of the old
Securities surrendered for such conversion. 
 (e) If a Holder submits a Security for conversion, the Company shall pay any documentary,
stamp or similar issue or transfer tax due on any issuance of any shares of Common Stock upon the conversion, unless the tax is due because the Holder requests any shares to be issued in a name other than the Holder’s name, in which case the
Holder shall pay that tax. The Company or its stock transfer agent may refuse to deliver the certificates representing the shares of Common Stock being issued in a name other than the Holder’s name until the Company or its representative
receives a sum sufficient to pay any tax that is due by such Holder in accordance with the immediately preceding sentence. 
 (f) Upon the
conversion of an interest in a Global Security, the Trustee, or the Securities Custodian at the direction of the Trustee, shall make a notation on such Global Security as to the reduction in the principal amount represented thereby. The Company
shall notify the Trustee in writing of any conversion of Securities effected through any Conversion Agent other than the Trustee. 
 (g)
Except as described below, the Company shall not make any separate cash payment for accrued and unpaid interest, if any, upon conversion of Securities. The Company’s settlement of the Conversion Obligation shall be deemed to satisfy in full its
obligation to pay the principal 

  
 36 

 
amount of the Security and accrued and unpaid interest, if any, attributable to the period from, and including, the most recent Interest Payment Date to, but excluding, the relevant Conversion
Date. As a result, accrued and unpaid interest, if any, to, but excluding, the Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of Securities into a combination of cash and shares
of Common Stock, accrued and unpaid interest shall be deemed to be paid first out of the cash paid upon such conversion. Notwithstanding the foregoing, if Securities are submitted for conversion after the close of business on a Regular Record Date
and prior to the open of business on the immediately following Interest Payment Date, Holders of such Securities as of the close of business on such Regular Record Date shall receive the full amount of interest payable on such Securities on such
Interest Payment Date notwithstanding the conversion, and Securities surrendered for conversion after the close of business on a Regular Record Date and prior to the open of business on the immediately following Interest Payment Date must be
accompanied by funds equal to the amount of interest payable on the principal amount of the Securities being converted; provided that no such payment need be made: 

(i) for conversions after the close of business on May 1, 2022, which is the Regular Record Date immediately preceding the
Maturity Date; 
 (ii) if the Company has specified a Redemption Date that is (a) after a Regular Record Date and
(b) on or prior to the corresponding Interest Payment Date; 
 (iii) if the Company has specified a Fundamental Change
Repurchase Date that is (a) after a Regular Record Date and (b) on or prior to the second Business Day immediately following the corresponding Interest Payment Date; or 

(iv) to the extent of any Defaulted Amounts, if any Defaulted Amounts exist at the time of conversion with respect to such
Security. 
 As a result of the foregoing, the Company shall pay interest on the Maturity Date on all Securities converted after the Regular
Record Date preceding the Maturity Date, and Holders shall not be required to pay the Company equivalent interest amounts. For the avoidance of doubt, each Holder of Securities at the close of business on the Regular Record Date immediately
preceding the Maturity Date, Redemption Date or any Fundamental Change Repurchase Date as described in the preceding paragraph with respect to such Securities shall receive the full payment of accrued and unpaid interest on the Maturity Date or
other applicable Interest Payment Date regardless of whether such Holder’s Securities have been converted following such Regular Record Date. 

(h) The Person in whose name the certificate for any shares of Common Stock delivered upon conversion is registered shall be treated as a
shareholder of record as of the close of business on the relevant Conversion Date (in the case of Physical Settlement) or the last Trading Day of the relevant Observation Period (in the case of Combination Settlement), as the case may be. Upon a
conversion of Securities, such Person shall no longer be a Holder of such Securities surrendered for conversion. 

  
 37 

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

(j) Each conversion shall be deemed to have been effected as to any Security surrendered for conversion on the Conversion Date;
provided, however, that the Person in whose name any shares of Common Stock shall be issuable upon such conversion shall become the holder of record of such shares as of the close of business on the Conversion Date (in the case of
Physical Settlement) or the close of business on the last Trading Day of the relevant Observation Period (in the case of Combination Settlement). 

Section 4.03. Company to Provide Stock. The Company shall, prior to issuance of any Securities hereunder, and from time to time as
may be necessary, reserve, out of its authorized but unissued Common Stock, a sufficient number of shares of Common Stock to permit the conversion of all outstanding Securities into shares of Common Stock (assuming that at the time of computation of
such number of shares, all such Securities would be converted by a single Holder and that Physical Settlement is applicable). 
 All shares
of Common Stock delivered upon conversion of the Securities shall be newly issued shares, shall be duly authorized, validly issued, fully paid and nonassessable and shall be free from preemptive rights and free of any lien or adverse claim. 

The Company shall endeavor promptly to comply with all federal and state securities laws regulating the offer and delivery of shares of Common
Stock upon conversion of Securities, if any, and will list or cause to have quoted such shares of Common Stock on each national securities exchange, over-the-counter
market or such other market on which the Common Stock is then listed or quoted; provided, however, that if rules of such automated quotation system or exchange permit the Company to defer the listing of such Common Stock until the
first conversion of the Securities into Common Stock in accordance with the provisions of this Indenture, the Company covenants to list such Common Stock issuable upon conversion of the Securities in accordance with the requirements of such
automated quotation system or exchange at such time. 
 Section 4.04. Adjustment to Conversion Rate Upon a Make-Whole Fundamental
Change or Notice of Redemption. (a) If and only to the extent that (i) a Holder converts its Securities in connection with a Make-Whole Fundamental Change that occurs prior to May 15, 2022 or (ii) a Holder converts its
Securities in connection with a Redemption Notice we deliver with respect to any or all of its Securities as set forth in Article 3, the Company shall, under the circumstances set forth in this Section 4.04, increase the Conversion Rate for the
Securities so surrendered for conversion by a number of additional shares (the “Additional Shares”), as described below. 

  
 38 

 (b) Upon surrender of Securities for conversion in connection with a Make-Whole Fundamental
Change or Redemption Notice, the Company shall, at its option, satisfy its Conversion Obligation by Physical Settlement, Cash Settlement or Combination Settlement in accordance with Section 4.02. However, if the consideration for the Common
Stock in any Make-Whole Fundamental Change described in clause (c) of the definition of Fundamental Change is composed entirely of cash, for any conversion of the Securities following the Effective Date of such Make-Whole Fundamental Change,
the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount in cash per $1,000 principal amount of converted Securities equal to the Conversion Rate (including any increase to
reflect the Additional Shares as described in this Section 4.04), multiplied by such Stock Price. In such event, the Conversion Obligation shall be determined and paid to Holders in cash on the second Business Day following the Conversion Date.
The Company shall notify in writing Holders, the Trustee and the Conversion Agent of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date no later than five Business Days after such
Effective Date. 
 (c) The number of Additional Shares, if any, by which the Conversion Rate shall be increased shall be determined by
reference to the table set forth in clause (f) below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective or the date of the Redemption Notice, as the case may be (in each case, the “Effective
Date”), and the price paid (or deemed to be paid) per share of Common Stock in such Make-Whole Fundamental Change or with respect to the Optional Redemption, as the case may be (the “Stock Price”). If holders of Common
Stock receive in exchange for their Common Stock only cash in a Make-Whole Fundamental Change described in clause (c) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share of Common Stock. Otherwise,
the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock on each of the five consecutive Trading Days prior to, but excluding, the Effective Date of the Make-Whole Fundamental Change or the date of the Redemption
Notice, as the case may be. 
 (d) A conversion of Securities by a Holder shall be deemed for these purposes to be “in connection
with” a Make-Whole Fundamental Change if the Conversion Notice is received by the Conversion Agent on or after the Effective Date of the Make-Whole Fundamental Change and prior to the close of business on the Business Day immediately preceding
the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the carve-out in subsection (ii) of clause (c) of
the definition of Fundamental Change, the 35th Trading Day following the actual Effective Date of the Make-Whole Fundamental Change). A conversion of Securities by a Holder shall be deemed for these purposes to be “in connection with” a
Redemption Notice if the Conversion Notice is received by the Conversion Agent from, and including, the date of the Redemption Notice until the close of business on the Scheduled Trading Day immediately preceding the Redemption Date. 

(e) The Stock Prices set forth in the first row of the following table (i.e., the column headings) shall be adjusted as of any date on which
the Conversion Rate is adjusted pursuant to Section 4.05. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate
immediately prior to the adjustment giving rise to the Stock Price adjustment and the 

  
 39 

 
denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares will be adjusted in the same manner, at the same time and for the same events as the Conversion Rate as
set forth in Section 4.05. 
 (f) The following table sets forth the number of Additional Shares by which the Conversion Rate for the
Securities will be increased per $1,000 principal amount of Securities for each Stock Price and Effective Date set forth below: 
  

																																													
	 	  	Stock Price	 
	 Effective date
	  	$73.40	 	  	$80.00	 	  	$99.09	 	  	$110.00	 	  	$120.00	 	  	$130.00	 	  	$150.00	 	  	$175.00	 	  	$200.00	 	  	$225.00	 	  	$250.00	 
	 May 12, 2017
	  	 	3.5321	 	  	 	2.9383	 	  	 	1.7662	 	  	 	1.3498	 	  	 	1.0667	 	  	 	0.8505	 	  	 	0.5520	 	  	 	0.3305	 	  	 	0.2010	 	  	 	0.1221	 	  	 	0.0736	 
	 May 15, 2018
	  	 	3.5321	 	  	 	2.8561	 	  	 	1.6497	 	  	 	1.2310	 	  	 	0.9514	 	  	 	0.7416	 	  	 	0.4599	 	  	 	0.2596	 	  	 	0.1483	 	  	 	0.0838	 	  	 	0.0463	 
	 May 15, 2019
	  	 	3.5321	 	  	 	2.7699	 	  	 	1.5153	 	  	 	1.0934	 	  	 	0.8185	 	  	 	0.6176	 	  	 	0.3583	 	  	 	0.1853	 	  	 	0.0962	 	  	 	0.0484	 	  	 	0.0228	 
	 May 15, 2020
	  	 	3.5321	 	  	 	2.6619	 	  	 	1.3332	 	  	 	0.9082	 	  	 	0.6431	 	  	 	0.4580	 	  	 	0.2356	 	  	 	0.1038	 	  	 	0.0448	 	  	 	0.0172	 	  	 	0.0049	 
	 May 15, 2021
	  	 	3.5321	 	  	 	2.5127	 	  	 	1.0453	 	  	 	0.6229	 	  	 	0.3853	 	  	 	0.2377	 	  	 	0.0903	 	  	 	0.0262	 	  	 	0.0058	 	  	 	0.0004	 	  	 	0.0000	 
	 May 15, 2022
	  	 	3.5321	 	  	 	2.4082	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

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

(i) if the Stock Price is between two Stock Prices in the table or the Effective Date is between two Effective Dates in the table, the number
of Additional Shares by which the Conversion Rate for the Securities will be increased shall be determined by straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and
later Effective Dates, as applicable, based on a 365-day year; 
 (ii) if the Stock Price is more
than $250.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above), no Additional Shares shall be added to the Conversion Rate; and 

(iii) if the Stock Price is less than $73.40 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column
headings of the table), no Additional Shares shall be added to the Conversion Rate. 
 Notwithstanding the foregoing, in no event shall the
Conversion Rate per $1,000 principal amount of Securities exceed 13.6239 shares of Common Stock, subject to adjustment in the same manner, at the same time and for the same events as the Conversion Rate as set forth in Section 4.05. 

Section 4.05. Conversion Rate Adjustments. The Conversion Rate shall be adjusted from time to time by the Company, upon the
occurrence of any of the following events, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Securities participate (other than in the case of (x) a share split or share combination or (y) a
tender or exchange offer), at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Securities, in any of the events described in this Section 4.05, without having to convert their Securities
as if they held a number of shares of Common Stock equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Securities held by such Holder. 

  
 40 

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

 
 where, 
  

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

 Any adjustment made under this Section 4.05(a) shall become effective immediately after the open of business
on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination, as applicable. If any dividend or
distribution of the type described in this Section 4.05(a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution,
to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (b) If the Company issues to
all or substantially all holders of its Common Stock any rights, options or warrants entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of Common Stock at
a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such
issuance, the Conversion Rate shall be increased based on the following formula: 
  
 

 
 where, 

  
 41 

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

 Any increase made under this Section 4.05(b) shall be made successively whenever any such rights, options or
warrants are issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that shares of Common Stock are not delivered after the expiration
of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of
only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, or if no such rights, options, or warrants are exercised prior to their expiration, the Conversion Rate shall be decreased to the
Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred. 

For purposes of this Section 4.05(b) and for the purpose of Section 4.01(e)(i), in determining whether any rights, options or warrants entitle
the holders to subscribe for or purchase shares of the Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the date of announcement for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants
and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property or rights, options or
warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding (i) dividends, distributions or issuances as to which an adjustment was effected pursuant to Section 4.05(a) or
Section 4.05(b), (ii) rights issued under a stockholder rights plan (except as set forth below in this Section 4.05(c)); (iii) dividends or distributions paid exclusively in cash as to which an adjustment was effected pursuant to Section
4.05(d), (iv) distributions of Reference 

  
 42 

 Property in exchange for the Common Stock as described in Section 4.07, and (v) Spin-Offs as to which
the provisions set forth below in this Section 4.05(c) shall apply, then the Conversion Rate shall be increased based on the following formula: 
  

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
			
	CR’	  	=	  	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
			
	SP0 	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend
Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Board of Directors) of the shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants to acquire Capital Stock or other securities of the Company
(the “Distributed Property”) distributed with respect to each outstanding share of the Common Stock on the Ex-Dividend Date for such distribution.

 Any increase made under the portion of this Section 4.05(c) above shall become effective immediately after the
open of business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such
distribution had not been declared. Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing
increase, each Holder of a Security shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common Stock receive the Distributed Property, the amount of Distributed Property such
Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. If the Board of Directors determines the
“FMV” (as defined above) of any distribution for purposes of this Section 4.05(c) by reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market over the same period
used in computing the Last Reported Sale Prices of the Common Stock over the five consecutive Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such distribution. 

With respect to an adjustment pursuant to this Section 4.05(c) where there has been a payment of a dividend or other distribution on the
Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S.

  
 43 

 
national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 

 
 

 
 where, 
  

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

 For purposes of the foregoing, “FMV0” will be determined by reference to (i) the actual trading
market for the Capital Stock or similar equity interest to be distributed in the Spin-Off or (ii) for any Trading Day in the Valuation Period as of which such Capital Stock or similar equity interest has
not commenced trading in the actual trading market for such security, the when-issued trading market for such security, as applicable. 

The adjustment to the Conversion Rate under the preceding paragraph shall occur at close of business on the last Trading Day of the Valuation
Period; provided that (x) in respect of any conversion of Securities for which Physical Settlement is applicable, if the relevant conversion date occurs during the Valuation Period, the references in the portion of this Section 4.05(c)
related to Spin-Offs to “ten” shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date for such Spin-Off
and such Conversion Date in determining the Conversion Rate and (y) in respect of any conversion of Securities for which Cash Settlement or Combination Settlement is applicable, subject to the immediately succeeding sentence, for any Trading
Day that falls within the relevant Observation Period for such conversion and within the Valuation Period, the reference to “ten” in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed
between the Ex-Dividend Date for such Spin-Off and such Trading Day in determining the Conversion Rate as of such Trading Day. If the
Ex-Dividend Date of the Spin-Off is after the tenth Trading Day immediately preceding, and including, the end of the Observation Period in respect of a conversion of
Securities, references in the portion of this Section 4.05(c) related to Spin-Offs to ten Trading Days shall be deemed to be replaced, solely in respect of that conversion, with such lesser number of Trading Days as have elapsed from, and including,
the Ex-Dividend Date for such Spin-Off to, and including, the last Trading Day of such Observation Period. If the 

  
 44 

 
distribution constituting the Spin-Off is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would have been in effect
if such distribution had not been declared. 
 For purposes of this Section 4.05(c) (and subject in all respect to Section 4.09,
rights, options or warrants distributed by the Company, pursuant to a shareholder rights plan to all or substantially all holders of its Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including
Common Stock (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of the
Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been distributed for purposes of this Section 4.05(c) (and no adjustment to the Conversion
Rate under this Section 4.05(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the
Conversion Rate shall be made under this Section 4.05(c). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of
which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any
of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto
that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 4.05(c) was made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or
purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again
be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock
with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights,
options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued. 

For purposes of Section 4.05(a), Section 4.05(b) and this Section 4.05(c), any dividend or distribution to which this Section 4.05(c) is
applicable that also includes one or both of: 
 (A) a dividend or distribution of shares of Common Stock to which Section 4.05(a) is
applicable (the “Clause A Distribution”); or 
 (B) a dividend or distribution of rights, options or warrants to which
Section 4.05(b) is applicable (the “Clause B Distribution”), 

  
 45 

 then (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution,
shall be deemed to be a dividend or distribution to which this Section 4.05(c) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section 4.05(c) with respect to such Clause C
Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 4.05(a) and Section 4.05(b) with
respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be
the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately
prior to the open of business on such Ex-Dividend Date or effective date” within the meaning of Section 4.05(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 4.05(b). 
 (d) If the Company makes any cash dividend
or distribution to all or substantially all holders of the Common Stock, the Conversion Rate shall be adjusted based on the following formula: 
  

 
  

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

 Any increase pursuant to this Section 4.05(d) shall become effective immediately after the open of business on
the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not
to make or pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than
“SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Security shall receive, for each $1,000 principal amount of Securities, at the same time and upon the same terms as holders of shares of the Common Stock, the
amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution. 

  
 46 

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

 
 where, 
  

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

 The adjustment to the Conversion Rate under this Section 4.05(e) shall occur at the close of business on the
tenth Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires; provided that (x) in respect of any conversion of Securities for which Physical Settlement is
applicable, if the relevant conversion date occurs during the ten Trading Days immediately following, and including, the Trading Day next succeeding the expiration date of any tender or exchange offer, references to “ten” or
“tenth” in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer and 

  
 47 

 
such conversion date in determining the Conversion Rate and (y) in respect of any conversion of Securities for which Cash Settlement or Combination Settlement is applicable, subject to the
immediately succeeding sentence, for any Trading Day that falls within the relevant Observation Period for such conversion and within the ten Trading Days immediately following, and including, the Trading Day next succeeding the expiration date of
any tender or exchange offer, references to “ten” or “tenth” in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer
and such Trading Day in determining the Conversion Rate as of such Trading Day. In addition, if the Trading Day next succeeding the date such tender or exchange offer expires is after the tenth Trading Day immediately preceding, and including, the
end of any Observation Period in respect of a conversion of Securities, references in the preceding paragraph to ten Trading Days shall be deemed to be replaced, solely in respect of that conversion, with such lesser number of Trading Days as have
elapsed from, and including, the Trading Day next succeeding the date such tender or exchange offer expires to, and including, the last Trading Day of such Observation Period. For the avoidance of doubt, no adjustment under Section 4.05(e) will be
made if such adjustment would result in a decrease in the applicable Conversion Rate. 
 (f) Notwithstanding this Section 4.05 or any
other provision of this Indenture or the Securities, if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date, and a Holder that has converted its Securities on or after such Ex-Dividend Date and on or prior to the related Record Date would be treated as the record holder of the Common Stock as of the related Conversion Date as described under Section 4.02(j) based on an adjusted
Conversion Rate for such Ex-Dividend Date, then, notwithstanding the Conversion Rate adjustment provisions in this Section 4.05, the Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall be treated as if such Holder were the record owner of the shares of Common Stock on an unadjusted basis and participate in
the related dividend, distribution or other event giving rise to such adjustment. 
 (g) Except as stated herein, the Company shall not
adjust the Conversion Rate for the issuance of shares of its Common Stock or any securities convertible into or exchangeable for shares of its Common Stock or the right to purchase shares of its Common Stock or such convertible or exchangeable
securities. In addition, the Company shall not adjust the Conversion Rate for guarantees issued in respect of any of its outstanding securities. 

(h) In addition to those adjustments required by subsections (a), (b), (c), (d) and (e) of this Section 4.05, and to the extent
permitted by applicable law and subject to the applicable rules of The NASDAQ Global Select Market, the Company from time to time may increase the Conversion Rate by any amount for any period of at least 20 Business Days if the Board of Directors
has determined that such increase would be in the Company’s best interest. In addition, the Company may (but is not required to), subject to the applicable rules of The NASDAQ Global Select Market, increase the Conversion Rate, as the Board of
Directors considers advisable, to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for
tax purposes. Whenever the Conversion Rate is increased pursuant to either of the preceding two sentences, the Company shall mail to Trustee, the Conversion Agent and the Holder of each Security at its last address appearing on the register of

  
 48 

 
the Registrar a written notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such written notice shall state the increased Conversion Rate and
the period during which it will be in effect. 
 (i) Notwithstanding anything to the contrary in this Section 4.05, the Conversion Rate
shall not be adjusted: 
 (i) upon the issuance of any shares of Common Stock pursuant to any present or future plan
providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

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

(iii) on account of ordinary course of business stock repurchases, including structured or derivative transactions, pursuant to
a stock repurchase program approved by the Board of Directors, in each case, that are not tender offers referred to in Section 4.05(e) of the adjustments above; 

(iv) upon the issuance of any shares of Common Stock pursuant to any option, warrant, right (other than rights under a
shareholder rights plan as described in Section 4.09) or exercisable, exchangeable or convertible security not described in clause (ii) of this subsection (i) and outstanding as of the date the Securities were first issued; 

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

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

(j) Notwithstanding anything to the contrary in this Indenture, the Company shall not be required to make an adjustment pursuant to clauses
(a), (b), (c), (d) or (e) of this Section 4.05 unless such adjustment would result in a change of at least 1% of the Conversion Rate. However, the Company shall carry forward any adjustments that are less than 1% of the Conversion Rate and
make such carried forward adjustments with respect to the Securities, except that all such adjustments must be given effect immediately upon the earliest to occur of any of the following: (1) when all such deferred adjustments would result in
an aggregate change of at least 1% to the Conversion Rate; (2) regardless of whether the adjustment (or such cumulative net effect) is less than 1% of the Conversion Rate (x) on the Conversion Date for any Securities (in the case of
Physical Settlement) and (y) on each Trading Day of any Observation Period (in the case of Cash Settlement or Combination Settlement); (3) on the effective date any Fundamental Change or Make-Whole Fundamental Change occurs; (4) the date
of a Redemption Notice; and (5) February 15, 2022. All calculations and other determinations in respect of the Conversion Rate shall be made by the Company to the nearest 1/10,000th of a share. 

(k) Whenever the Conversion Rate is adjusted pursuant to this Section 4.05, the Company shall compute the adjusted Conversion Rate in
accordance with this Section 4.05 and shall prepare an Officers’ Certificate setting forth (i) the adjusted Conversion Rate, (ii) the 

  
 49 

 
subsection of this Section 4.05 pursuant to which such adjustment has been made, showing in reasonable detail the facts upon which such adjustment is based, (iii) the calculation of
such adjustment and (iv) the date as of which such adjustment is effective, and such Officers’ Certificate shall promptly be delivered to the Trustee and each Conversion Agent (which certificates shall be conclusive evidence of the
accuracy of such adjustment absent manifest error). As soon as practicable after each such adjustment, the Company shall deliver to the Holders (with a copy to the Trustee and the Conversion Agent) a notice stating that the Conversion Rate has been
adjusted and setting forth the adjusted Conversion Rate and setting forth the date as of which such adjustment is effective. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. Unless and until a
Responsible Officer of the Trustee and each Conversion Agent shall receive an Officers’ Certificate with respect to an adjustment of the Conversion Rate, the Trustee and each Conversion Agent may assume without inquiry that the Conversion Rate
has not been adjusted and that the last Conversion Rate of which it has knowledge remains in effect. Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such certificate or the information and
calculations contained therein, except to exhibit the same to any Holder of Securities desiring inspection thereof at its office during normal business hours. 

(l) For purposes of this Section 4.05, the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. 
 (m) In the event of a taxable distribution to holders of shares of Common Stock that results in an
adjustment of the Conversion Rate, Holders may, in certain circumstances, be deemed to have received a distribution subject to U.S. federal income tax as a dividend; in certain other circumstances, the absence of such an adjustment may result in a
taxable dividend to the holders of shares of Common Stock. Because this deemed distribution would not give rise to any cash from which any applicable withholding tax could be satisfied, if withholding taxes (including any backup withholding) are
paid on behalf of a Holder, those withholding taxes may be set off against payments of cash or Common Stock, if any, payable on the Securities (or, in some circumstances, against any payments on the Common Stock). 

(n) Notwithstanding any of the foregoing, if: 

(i) the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation through Combination Settlement and
shares of Common Stock are deliverable to settle the Daily Settlement Amount for a given Trading Day within the Observation Period applicable to Securities that a Holder has converted; 

(ii) any distribution or transaction described in subsections (a), (b), (c), (d) and (e) of this Section 4.05 has not
yet resulted in an adjustment to the Conversion Rate on the Trading Day in question; and 
 (iii) the shares of Common Stock
that such Holder will receive in respect of such Trading Day are not entitled to participate in the relevant distribution or transaction 

  
 50 

 
(because such shares of Common Stock were not held on a related Record Date or otherwise), 
 then
such Holder will be treated as if such Holder were the record owner of such shares of Common Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment and the Company shall take
such corporate actions as required to give effect to the foregoing. 
 Notwithstanding any of the foregoing, if: 

(i) the Company elects to satisfy (or is otherwise required to satisfy) its Conversion Obligation solely in shares of Common Stock (other than
cash in lieu of any fractional shares); 
 (ii) any distribution or transaction described in subsections (a), (b), (c), (d) and (e) of
this Section 4.05 has not yet resulted in an adjustment to the Conversion Rate on a given Conversion Date; and 
 (iii) the shares of
Common Stock deliverable on settlement of the related conversion are not entitled to participate in the relevant distribution or transaction (because such shares of Common Stock were not held on a related Record Date or otherwise), then such Holder
will be treated as if such Holder were the record owner of such shares of Common Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment and the Company shall take such
corporate actions as required to give effect to the foregoing. 
 Section 4.06. Adjustments of Prices. Whenever any provision of
this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including an Observation Period and the period for determining
the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to
the Conversion Rate where the Ex-Dividend Date, Effective Date or expiration date of the event occurs, at any time during the relevant period. 

Section 4.07. Effect of Recapitalizations, Reclassifications and Changes of the Common Stock. 

(a) In the case of: 

(i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or
combination), 
 (ii) any consolidation, merger or combination involving the Company, 

(iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company’s
Subsidiaries substantially as an entirety or 
 (iv) any statutory share exchange, 

  
 51 

 in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other
securities, other property or assets (including cash or any combination thereof) (any such event, a “Merger Event”), then the Company or the successor or purchasing company, as the case may be, will execute with the Trustee, without
the consent of the Holders (except as may be otherwise required pursuant to this Indenture), a supplemental indenture providing that, at and after the effective time of such Merger Event, the right to convert each $1,000 principal amount of
Securities shall be changed into a right to convert such principal amount of Securities into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number
of shares of Common Stock equal to the Conversion Rate immediately prior to such Merger Event would have owned or been entitled to receive (the “Reference Property”, with each “unit of Reference Property” meaning
the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive) upon such Merger Event; provided, however, that at and after the effective time of the Merger Event, (A) the Company
shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion of Securities in accordance with Section 4.02 and (B)(I) any amount payable in cash upon conversion of the
Securities in accordance with Section 4.02 shall continue to be payable in cash, (II) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Securities in accordance with Section 4.02
shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have been entitled to receive in such Merger Event and (III) the Daily VWAP shall be calculated based on the
value of a unit of Reference Property that a holder of one share of Common Stock would have received in such transaction. If the Merger Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single
type of consideration (determined based in part upon any form of shareholder election), then the Reference Property into which the Securities will be convertible or be used to calculate the Daily VWAP, as the case may be, shall be deemed to be
(i) the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election or (ii) if no holders of Common Stock affirmatively make such an election, the types and
amounts of consideration actually received by the holders of Common Stock. The Company shall notify in writing Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the weighted average as soon as practicable after the
determination is made. 
 Such supplemental indenture shall provide for anti-dilution and other adjustments that are as nearly equivalent as
possible to the adjustments provided for in this Article 4. If the Reference Property in respect of any Merger Event includes shares of stock, securities or other property or assets of a Person other than the Company or the successor or purchasing
corporation, as the case may be, in such Merger Event, such other Person will also execute such supplemental indenture, and such supplemental indenture shall contain such additional provisions to protect the interests of the Holders, including the
right of Holders to require the Company to purchase their Securities upon a Fundamental Change pursuant to Article 3, as the Board of Directors shall reasonably consider necessary by reason of the foregoing. 

If the holders of Common Stock receive only cash in such Merger Event, then for all conversions of Securities that occur after the effective
date of such Merger Event (x) the consideration due upon conversion of each $1,000 principal amount of Securities shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be

  
 52 

 
increased pursuant to Section 4.04), multiplied by the price paid per share of Common Stock in such Merger Event and (y) the Company shall satisfy the Conversion Obligation by
paying cash to converting Holders on the second Business Day immediately following the Conversion Date. 
 (b) In the event the Company shall
execute a supplemental indenture pursuant to subsection (a) of this Section 4.07, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of cash, securities
or property or asset that will comprise the Reference Property after any such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly mail notice thereof to all
Holders. The Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder, at its address appearing on the register of the Registrar (with a copy to the Trustee) provided for in this Indenture, within 20
days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 
 (c)
The Company shall not become a party to any Merger Event unless its terms are consistent with this Section 4.07. None of the foregoing provisions shall affect the right of a Holder of Securities to convert its Securities into cash, shares of
Common Stock or a combination of cash and shares of Common Stock, as applicable, as set forth in Section 4.01 and Section 4.02 prior to the effective date of such Merger Event. 

(d) The above provisions of this Section 4.07 shall similarly apply to successive Merger Events. 

Section 4.08. Cancellation of Converted Securities. All Certificated Securities delivered for conversion shall be delivered to the
Trustee or its agent to be canceled by or at the direction of the Trustee, which shall dispose of the same as provided in this Indenture. Upon conversions of beneficial interests in any Global Security, the Trustee or the Securities Custodian, at
the direction of the Trustee, shall reduce the aggregate principal amount of outstanding Securities represented by such Global Security to reflect the conversion. 

Section 4.09. Shareholders Rights. If the Company has a shareholder rights plan in effect upon conversion of the Securities, each
share of Common Stock, if any, issued upon such conversion shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in each
case as may be provided by the terms of any such shareholder rights plan, as the same may be amended from time to time (such rights prior to separation from the Common Stock, “Non-Separate
Rights”). However, if prior to any conversion the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable shareholder rights plan so that the Holders would not be entitled to receive any
rights in respect of Common Stock, if any, issuable upon conversion of the Securities, the Conversion Rate shall be increased at the time of separation as if the Company distributed to all or substantially all holders of Common Stock shares of
Capital Stock of the Company, evidences of its indebtedness, other assets or property or rights, options or warrants to acquire its Capital Stock or other securities as provided in Section 4.05(c), subject to decrease in the event of the expiration,
termination or redemption of such rights. A distribution of rights pursuant to such a shareholder rights plan shall not trigger a Conversion Rate adjustment pursuant to Section 

  
 53 

 
4.05(c) if Holders of the Securities participate in such distribution on an as-converted basis in accordance with the first paragraph of Section 4.05.

 Section 4.10. Trustee’s Disclaimer. The Trustee shall have no duty to determine when an adjustment to the
Conversion Rate under this Article 4 should be made, how it should be made or what such adjustment should be, but may accept as conclusive evidence of that fact or the correctness of any such adjustment, and shall be protected in relying upon, the
Officers’ Certificate that the Company is obligated to deliver to the Trustee pursuant to Section 4.05(k). The Trustee makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities, and the
Trustee shall not be responsible for the Company’s failure to comply with any provisions of this Article 4. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for determination of the Daily Settlement
Amounts (if applicable) or the Daily Conversion Values (if applicable). In addition, in no event shall the Trustee or Conversion Agent be responsible for making any calculations under this Indenture or for determining amounts to be paid or for
monitoring any Stock Price. For the avoidance of doubt, the Trustee and the Conversion Agent shall rely conclusively on the calculations and information provided to them by the Company as to the Daily VWAP, Trading Price, Daily Conversion Value,
Daily Settlement Amount and Last Reported Sale Price. Nor shall the Trustee or the Conversion Agent be charged with knowledge of or have any duties to monitor any Measurement Period or Observation Period or determine whether the Securities are
convertible, whether any Merger Event has occurred, or whether any adjustments to the Conversion Rate are required. The rights, privileges, protections, immunities and benefits given to the Trustee, including without limitation its right to be
compensated, reimbursed and indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including its capacity as Conversion Agent and as Bid Solicitation Agent (if applicable). 

The Trustee shall not be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture
executed pursuant to Section 10.01, but may accept as conclusive evidence of the correctness thereof, and shall be fully protected in relying upon, the Officers’ Certificate with respect thereto which the Company is obligated to file with
the Trustee pursuant to Section 10.06. 
 Section 4.11. Exchange in Lieu of Conversion. (a) When a Holder surrenders
its Securities for conversion, the Company may, at its election (an “Exchange Election”), direct the Conversion Agent to surrender, on or prior to the second Business Day following the Conversion Date, such Securities to a financial
institution designated by the Company (the “Designated Institution”) for exchange in lieu of conversion. In order to accept any Securities surrendered for conversion for exchange in lieu of conversion, the Designated Institution
must agree to timely deliver, in exchange for such Securities, the cash, shares of Common Stock or combination of cash and Common Stock, at the Company’s election, that would otherwise be due upon conversion as described in Section 4.02
above (the “Conversion Consideration”). If the Company makes an Exchange Election, the Company shall, by the close of business on the second Business Day following the relevant Conversion Date, notify in writing the Holder
surrendering Securities for conversion and the Trustee that it has made such election. In addition, the Company shall concurrently notify the Designated Institution of the relevant deadline for delivery of the Conversion Consideration. Any
Securities exchanged by the 

  
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Designated Institution will remain outstanding, subject to applicable procedures of the Depositary. 

(b) If the Designated Institution agrees to accept any Securities for exchange but does not timely deliver the related Conversion Consideration
to the Conversion Agent, or if the Designated Institution does not accept such Securities for exchange, the Company shall, within the time period specified in Section 4.02(c), deliver the relevant Conversion Consideration in accordance with the
provisions of Section 4.02. 
 (c) For the avoidance of doubt, in no event will the Company’s designation of a Designated
Institution pursuant to this Section 4.11 require the Designated Institution to accept any Securities for exchange. 
 ARTICLE 5 

COVENANTS 

Section 5.01. Payment on the Securities. The Company shall promptly make all payments in respect of the Securities on the dates
and in the manner provided in the Securities and this Indenture. Principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of and interest on the Securities shall be considered paid on the date it is due,
if the Paying Agent (if other than the Company or an Affiliate thereof) holds as of 11:00 a.m., New York City time, on the due date money, deposited by the Company or an Affiliate thereof in immediately available funds, designated for and sufficient
to pay all principal (including the Fundamental Change Repurchase Price) and interest then due on the Securities. 
 Payment of the
principal of and interest on the Securities shall be made at the office or agency of the Company maintained for that purpose (which shall initially be the Corporate Trust Office of the Trustee); provided, however, that at the option of
the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address appears in the Register; provided, further that a Holder with an aggregate principal amount in excess of
$2,000,000 will be paid by wire transfer to an account within the United States in immediately available funds at the election of such Holder if such Holder has provided wire transfer instructions to the Company and the Trustee at least ten Business
Days prior to the payment date, it being understood that as long as the Securities are Global Securities, payment will be made by wire transfer to DTC. 

Section 5.02. SEC Reports and Rule 144A Information Requirement. 

(a) The Company shall file with the Trustee within 15 days after the same are required to be filed with the SEC, copies of any documents or
reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any
such document or report that the Company files with the SEC via the EDGAR system shall be deemed to be filed with the Trustee for purposes of this Section 5.02 at the time such documents are filed via EDGAR. 

  
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 (b) Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). The Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed pursuant to the
EDGAR system or postings to any website have occurred or the contents therein. 
 (c) At any time the Company is not subject to
Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Securities or any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute “restricted securities” within the meaning of
Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and, upon written request, any Holder, beneficial owner or prospective purchaser of such Securities or any shares of Common Stock issuable upon conversion of such
Securities, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Securities or shares of Common Stock pursuant to Rule 144A under the Securities Act. 

(d) If, at any time during the six-month period beginning on, and including, the date that is six
months after the last date of original issuance of the Securities, the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after
giving effect to all applicable grace periods thereunder and other than Current Reports on Form 8-K), or the Securities are not otherwise freely tradable pursuant to Rule 144 by Holders other than the
Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the three months preceding (as a result of restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities), the Company
shall pay Additional Interest on the Securities. Such Additional Interest shall accrue on the Securities at the rate of 0.50% per annum of the principal amount of the Securities outstanding for each day during which the Company’s failure to
file has occurred and is continuing or the Securities are not otherwise freely tradable by Holders other than the Company’s Affiliates (or Holders that have been the Company’s Affiliates at any time during the three months preceding)
without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities. As used in this Section 5.02(d), documents or reports that the Company is required to “file” with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of the Exchange Act. 

(e) If, and for so long as, the restrictive legend on the Securities specified in Section 2.06(d) has not been removed in accordance with the
terms of this Indenture and the Securities, the Securities are assigned a restricted CUSIP or the Securities are not otherwise freely tradable pursuant to Rule 144 by Holders other than the Company’s Affiliates or Holders that were the
Company’s Affiliates at any time during the three months preceding (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities) as of the 370th day after the issue date of the Securities, the Company
shall pay Additional Interest on the Securities at a rate equal to 0.50% per annum of the principal amount of Securities outstanding until the restrictive legend on the Securities has been removed in accordance with Section 2.06(d), the terms of
this Indenture and the Securities, the Securities are assigned an unrestricted 

  
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CUSIP and the Securities are freely tradable by Holders other than the Company’s Affiliates (or Holders that were the Company’s Affiliates at any time during the three months preceding)
(without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities). 
 (f) Additional Interest will be
payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Securities. 
 (g) The
Additional Interest that is payable in accordance with Section 5.02(d) or Section 5.02(e) shall be in addition to, and not in lieu of, any Additional Interest that may be payable as a result of the Company’s election pursuant to
Section 7.04. 
 (h) If Additional Interest is payable by the Company pursuant to Section 5.02(d), Section 5.02(e) or Section 7.04,
the Company shall deliver to the Trustee an Officers’ Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a
Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. If the Company has paid Additional Interest directly to the Persons
entitled to it, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 

Section 5.03. Compliance Certificates. 

(a) The Company shall deliver to the Trustee within 120 days after the end of each fiscal year during which any Securities were outstanding an
Officers’ Certificate (that need not comply with Section 11.04(b)) stating whether or not the signers thereof know of any Default or Event of Default that occurred during such fiscal year and that the Company has complied with all conditions
and covenants under this Indenture. For purposes of this Section 5.03, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officers of the Company signing such
Officers’ Certificate have knowledge of such a Default or Event of Default, the Officers’ Certificate shall describe any such Default or Event of Default and its status. 

(b) The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, forthwith, and in any event within five
Business Days, after any Officer becoming aware of the occurrence of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect
thereto. 
 Section 5.04. Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such
further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

Section 5.05. Maintenance of Corporate Existence. Subject to Article 6, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence. 

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

CONSOLIDATION, MERGER, SALE, CONVEYANCE, TRANSFER OR
LEASE 
 Section 6.01. Company May Consolidate, Etc., Only on Certain Terms. The Company shall
not, directly or indirectly, in a single transaction or a series of transactions, consolidate with or merge into any other Person or sell, convey, transfer or lease all or substantially all of its properties and assets to another Person, unless:

 (a) either (i) the Company is the continuing Person or (ii) the resulting, successor or transferee Person, if not the Company
(such Person, the “Successor Company”), is a corporation organized and existing under the laws of the United States, any State of the United States, or the District of Columbia; 

(b) such Person (if other than the Company) expressly assumes by an indenture supplemental hereto, executed and delivered to the Trustee the
due and punctual payment of the principal of and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed and the conversion rights shall be provided
for in accordance with Article 4; 
 (c) immediately after giving effect to such transaction, no Event of Default, and no event which, after
notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing; 
 (d) if as a result of such
transaction the Securities become convertible into Common Stock or other securities issued by a third party, such third party fully and unconditionally guarantees all of the obligations of the Company or such Successor Company under the Securities
and this Indenture; and 
 (e) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, comply with this Article 6 and that all conditions precedent herein
provided for relating to such transaction have been complied with. 
 Section 6.02. Successor Substituted. Upon any
consolidation of the Company with, or merger of the Company into, any other Person or any sale, conveyance, transfer or lease of all or 

  
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substantially all of the properties and assets of the Company in accordance with Section 6.01 in which the Company is not the continuing corporation, there shall be an adjustment to the
Conversion Rate and the Successor Company shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such Successor Company had been named as the Company herein,
and thereafter, except in the case of a lease, the Company shall be relieved of all obligations and covenants under this Indenture and the Securities. 

ARTICLE 7 
 DEFAULT
AND REMEDIES 
 Section 7.01. Events Of Default. An “Event of Default” shall
occur if: 
 (a) the Company fails to pay the principal of any Security when due and payable at its stated maturity, upon Optional
Redemption, upon any required repurchase, upon declaration of acceleration or otherwise; 
 (b) the Company fails to pay the interest on any
Security when due and payable and such failure continues for a period of 30 days; 
 (c) the Company fails to convert any Security in
accordance with this Indenture upon exercise of a Holder’s conversion right and, in the case of a conversion to which Physical Settlement applies, such failure continues for a period of three Business Days; 

(d) the Company fails to provide timely notice pursuant to Section 3.05(b), Section 4.01(d), Section 4.01(f) or Section 4.04(b), in each case
when due; 
 (e) the Company fails to comply with its obligations set forth in Article 6; 

(f) the Company fails to perform any other agreement required of it in this Indenture or the Securities and such failure continues for 60 days
after written notice is given to the Company in accordance with the immediately succeeding paragraph; 
 (g) any indebtedness for money
borrowed by the Company or any of its Significant Subsidiaries in an aggregate outstanding principal amount in excess of $25,000,000 is not paid at final maturity or upon acceleration, and such indebtedness is not discharged, or such acceleration is
not cured or rescinded, within 30 days after written notice to the Company is given in accordance with the immediately succeeding paragraph; 

(h) the Company or any of its Significant Subsidiaries fails to pay one or more final and
non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or unbonded portion of which is in excess of $25,000,000, if the judgments are not paid, discharged or
stayed within 30 days; 
 (i) the Company or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case or proceeding; 

  
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 (ii) consents to the entry of an order for relief against it in an involuntary
case or proceeding; 
 (iii) consents to the appointment of a Custodian of it or for all or substantially all of its
property; or 
 (iv) makes a general assignment for the benefit of its creditors; or 

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

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

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

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

The notice given pursuant to this Section 7.01 may be given by the Trustee or the Holders of at least 25% in aggregate principal amount
of the Securities then outstanding (with a copy to the Trustee) and must specify the default, demand that it be remedied and state that the notice is a “Notice of Default.” When any default under this Section 7.01 is cured, it
ceases. 
 Section 7.02. Acceleration. If an Event of Default (other than an Event of Default specified in clause (i) or
(j) of Section 7.01 with respect to the Company (and not a Significant Subsidiary of the Company) occurs and is continuing, the Trustee may, by written notice to the Company, or the Holders of at least 25% in aggregate principal amount of
the Securities then outstanding may, by written notice to the Company and the Trustee, declare all unpaid principal to the date of acceleration on the Securities then outstanding (if not then due and payable) to be due and payable upon any such
declaration, and the same shall become and be immediately due and payable. If an Event of Default specified in clause (i) or (j) of Section 7.01 occurs with respect to the Company (and not a Significant Subsidiary), all unpaid principal of
the Securities then outstanding shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. After any acceleration, but before a judgment or decree based on acceleration,
the Holders of a majority in aggregate principal amount of the Securities may, except with respect to the nonpayment of principal (including the Fundamental Change Repurchase Price) or interest or with respect to the failure to pay and/or deliver
the consideration due upon conversion, rescind and annul such acceleration by notice to the Trustee if (a) all existing Events of Default, other than the non-payment of accelerated principal, have been
cured or waived; (b) to the extent the payment of such interest is lawful, interest (calculated at the rate per annum borne by the Securities plus one percent) on overdue installments of interest and overdue principal, which has become due
otherwise than by such declaration of acceleration, has been paid; (c) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and (d) all payments due to the Trustee

  
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and any predecessor Trustee under Section 8.07 have been made. No such rescission shall affect any subsequent default or impair any right consequent thereto. 

Section 7.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated to,
pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative to the extent permitted by law. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned
for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceedings, the Company, the Trustee and the Holders shall be restored severally and respectively
to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceedings has been instituted. 

Section 7.04. Additional Interest. 

(a) Notwithstanding anything in this Indenture or in the Securities to the contrary, to the extent the Company elects, the sole remedy for an
Event of Default during the first 360 days after the occurrence of an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 5.02(a), shall after the occurrence of such an Event of Default
consist exclusively of the right to receive Additional Interest on the Securities at a rate equal to (i) for the first 180 days after the occurrence of such an Event of Default, 0.25% per annum of the principal amount of the Securities
outstanding for each day during which such Event of Default is continuing during such period, beginning on, and including, the date on which such an Event of Default first occurs, and (ii) for the 180 days after the 181st day after the
occurrence of such an Event of Default, 0.50% per annum of the principal amount of the Securities outstanding for each day during which such Event of Default is continuing during such period. Additional Interest payable pursuant to this
Section 7.04 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 2.06(d) or Section 2.06(e). 

(b) If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable
on the Securities. On the 361st day after such Event of Default (if such Event of Default is not cured or waived prior to such 361st day, and which period shall not commence until expiration of the 60-day
period set forth in clause (f) of Section 7.01), the Securities will be subject to acceleration as provided in Section 7.02. This Section 7.04 shall not affect the rights of Holders in the event of the occurrence of any other
Event of Default. If the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 7.04, or if it so elects but fails to pay the Additional Interest when due, the Securities shall be
immediately subject to acceleration as provided in Section 7.02. To elect to pay Additional Interest as the sole remedy during the first 

  
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360 days after the occurrence of an Event of Default relating to the failure to comply with the reporting obligations in accordance with subsection (a) of this Section 7.04 and this
subsection (b), the Company must notify in writing all Holders of the Securities, the Trustee and the Paying Agent of such election prior to the beginning of such 360-day period. Upon the Company’s
failure to timely give such notice or if the Company gives such notice but does not pay the Additional Interest when due, the Securities shall be immediately subject to acceleration as provided in Section 7.02. 

(c) In no event will the Additional Interest described in this Section 7.04, together with any Additional Interest that may accrue as a
result of the Company’s failure to timely file any document or report that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, as provided in Section 5.02, accrue at a rate
in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. 

Section 7.05. Waiver of Defaults and Events of Default. Subject to Section 7.08 and Section 10.02, the Holders of a
majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee and the Company may waive an existing default or Event of Default and its consequence, except (a) a default or Event of Default in the payment of
the principal (including the Fundamental Change Repurchase Price) of or interest on any Security, (b) a failure by the Company to convert any Securities in accordance with the provisions of the Securities and this Indenture or (c) any
default or Event of Default in respect of any provision of this Indenture or the Securities that, under Section 10.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default or Event of Default
is waived, it is cured and ceases. 
 Section 7.06. Control by Majority. The Holders of a majority in aggregate principal amount
of the outstanding Securities will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities.
However, the Trustee may refuse to follow any direction that violates law or this Indenture or that would result in the Trustee incurring personal liability unless the Trustee is offered security or indemnity satisfactory to it against loss, cost,
liability or expense; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. 

Section 7.07. Limitations on Suits. A Holder may not pursue any remedy with respect to this Indenture or the Securities (except
actions for the enforcement of payment of the principal (including the Fundamental Change Repurchase Price) or interest on any Security on or after the applicable due date or the right to convert the Securities or to receive the consideration due
upon such conversion in accordance with Article 4) unless: 
 (a) the Holder has previously given the Trustee written notice of a continuing
Event of Default; 
 (b) the Holders of at least 25% in aggregate principal amount of the Securities then outstanding have made a written
request and have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee to institute such proceeding as Trustee; and 

  
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 (c) the Trustee has failed to institute such proceeding within 60 days after such notice, request
and offer, and has not received from the Holders of a majority in aggregate principal amount of the Securities then outstanding a direction inconsistent with such request within 60 days after such notice, request and offer. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over such other Holder.

 Section 7.08. Rights of Holders to Receive Payment and to Convert. Each Holder shall have the right to receive payment or
delivery, as the case may be, of (a) the principal (including the Fundamental Change Repurchase Price) of, (b) accrued and unpaid interest, if any, on, and (c) the consideration due upon conversion of, its Securities, on or after the
respective due dates expressed or provided for in this Indenture, or to institute suit for the enforcement of any such payment or delivery, as the case may be, and such right to receive payment or delivery, as the case may be, on or after such
respective dates shall not be impaired or affected without the consent of such Holder. 
 Section 7.09. Collection Suit by
Trustee. If an Event of Default in the payment of principal or interest specified in clause (a) or (b) of Section 7.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust
against the Company or another obligor on the Securities for the whole amount of principal and accrued interest remaining unpaid, together with, to the extent that payment of such interest is lawful, interest on overdue principal and on overdue
installments of interest, in each case at the rate per annum borne by the Securities plus one percent and such further amount as shall be sufficient to cover the costs and expenses of collection, including the compensation and reasonable expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 Section 7.10. Trustee May File Proofs of
Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation and reasonable expenses, disbursements and
advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to collect and
receive any money or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event
that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the compensation and reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, and
any other amounts due the Trustee under Section 8.07, and to the extent that such payment of the compensation and reasonable expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall
be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other property which the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to authorize, accept or adopt any plan of reorganization, arrangement, adjustment
or composition affecting the 

  
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Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 7.11. Priorities. If the Trustee collects any money or property pursuant to this Article 7, or after an Event of Default
any moneys or properties are distributable in respect of the Company’s obligations under this Indenture, the money or property shall be paid out or distributed in the following order: 

FIRST, to the Trustee for amounts due under Section 8.07; 

SECOND, to Holders for amounts due and unpaid on the Securities for principal and interest, ratably, without preference or priority of any
kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 
 THIRD, to the Company or
such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to
Holders pursuant to this Section 7.11. 
 Section 7.12. Undertaking for Costs. In any suit for the enforcement of any right
or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit,
and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section 7.12 does not apply to a suit made by the Trustee, a suit by a Holder pursuant to Section 7.07, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding. 

ARTICLE 8 
 TRUSTEE

 Section 8.01. Duties of Trustee. 

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

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

(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, 

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

(i) this paragraph does not limit the effect of subsection (b) of this Section 8.01; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable with respect
to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 7.06. 
 (d) No
provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability unless the Company or Holders shall have offered to the Trustee security or indemnity satisfactory to it against such cost, loss, expense or
liability. The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the
Trustee security or indemnity satisfactory to the Trustee against the costs, losses, expenses and liabilities that might be incurred by it in compliance with such request or direction. The Trustee shall not be required to give any bond or surety in
respect of the performance of its powers or duties hereunder. 
 (e) Every provision of this Indenture that in any way relates to the Trustee
is subject to subsections (a), (b), (c) and (d) of this Section 8.01. 
 (f) The Trustee shall not be liable for interest on
any money received by it except as the Trustee may agree in writing with the Company. Money and other property held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

Section 8.02. Rights of Trustee. 

(a) The Trustee may rely conclusively on any document (whether in its original or facsimile form) believed by it to be genuine and to have been
signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the
Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of Counsel, which shall conform to Section 11.04(b). The Trustee shall not be liable for any action it takes or omits to take in good faith in
reliance on such Officers’ Certificate or Opinion of Counsel. 

  
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 (c) The Trustee may act through its agents and shall not be responsible for the misconduct or
negligence of any agent appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult
with counsel of its selection, and the advice or opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any such action taken, omitted or suffered by it hereunder in good
faith and in accordance with the advice or opinion of such counsel. 
 (f) The Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(g) The Trustee shall not be charged with knowledge of any Default or Event of Default unless written notice thereof shall have been actually
received by a Responsible Officer at the Corporate Trust Office of the Trustee from the Company, a Paying Agent, any Holder or any agent of any Holder. 

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

(i) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (j) In no event shall the Trustee be responsible or liable for special,
punitive, indirect or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 
 (k) The permissive rights or powers of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of
the Trustee. 
 (l) In connection with any proposed exchange of a certificated Security for a Global Security, the Company shall be required
to use reasonable efforts to provide or cause to be provided to the Trustee all information within its possession that is requested by the Trustee and 

  
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 necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without
limitation any cost basis reporting obligations under Section 6045 of the Internal Revenue Code. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

Section 8.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may become a creditor of, or otherwise deal with, the Company or any of its Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. 

Section 8.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to
the validity, priority or adequacy of this Indenture or the Securities or the Common Stock, it shall not be accountable for the Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s
direction under any provision of this Indenture, it shall not be responsible for the use or application of any money received by any Paying Agent (other than the Trustee) and it shall not be responsible for any statement or recital herein or any
statement in the Securities or in the offering memorandum relating to the offer and sale of the Securities or any other document in connection with the sale of the Securities or pursuant to this Indenture other than its certificate of
authentication. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Securities. The Trustee shall not be bound to ascertain or inquire as to the performance, observance or breach of any
covenants, conditions, representations, warranties or agreements on the part of the Company but the Trustee may require full information and advice as to the performance of the aforementioned covenants. The Trustee shall have no obligations to
independently determine or verify if any Fundamental Change, Make-Whole Fundamental Change, Merger Event or any other event has occurred or notify the Holders of any such event. 

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

Section 8.06. [Reserved]. 

Section 8.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation (as agreed to
from time to time by the Company and the Trustee in writing) for its services (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the Trustee
promptly upon request for all reasonable disbursements, expenses and advances reasonably incurred or made by it in addition to the compensation for its services. Such expenses may include the reasonable compensation, disbursements and expenses of
the Trustee’s agents and counsel. 

  
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 The Company shall indemnify each of the Trustee and any predecessor Trustee against any and all
losses, liabilities, damages, claims or expenses (including taxes, other than taxes based upon, measured by or determined by the income of the Trustee and reasonable attorneys’ fees and expenses) incurred by it arising out of or in connection
with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this Section 8.07) and defending itself against any claim (whether asserted by
the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

The Company need not reimburse the Trustee for any expense or indemnify it against any loss or liability incurred by it resulting from its
gross negligence or willful misconduct as finally adjudicated by a court of competent jurisdiction. 
 To secure the Company’s payment
obligations in this Section 8.07, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee, except such money or property held in trust to pay the principal of, interest on, and amounts due
upon conversion of, the Securities. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in clause
(g) or (h) of Section 7.01 occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. The
obligations of the Company under this Section 8.07 shall survive the termination or satisfaction and discharge of this Indenture or the resignation or removal of the Trustee for any reason. “Trustee” for the purposes of this
Section 8.07 shall include any predecessor Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person employed to act hereunder; provided, however, that the negligence or willful
misconduct of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 
 Section 8.08. Replacement of
Trustee. The Trustee may resign upon 30 days’ notice by so notifying the Company in writing and by mailing notice thereof to the Holders at their addresses as they appear on the Registrar. The Holders of a majority in aggregate principal
amount of the Securities then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing upon 30 days’ notice and may, with the Company’s written consent, appoint a successor Trustee. The Company may remove
the Trustee if: 
 (i) the Trustee fails to comply with Section 8.10; 

(ii) the Trustee is adjudged a bankrupt or an insolvent or relief is entered with respect to the Trustee under any Bankruptcy
Law; 
 (iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. The resignation or removal of a 

  
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 Trustee shall not be effective until a successor Trustee shall have delivered the written acceptance of its
appointment as described below. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is
removed, the retiring Trustee, the Company or the Holders of 10% in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 

If the Trustee fails to comply with Section 8.10, any Holder who has been a Holder for at least six months may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall deliver a
written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (provided that all sums owing to the
Trustee hereunder have been paid) and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall become
effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder. 

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

Notwithstanding replacement of the Trustee pursuant to this Section 8.08, the Company’s obligations under Section 8.07 shall
continue for the benefit of the retiring Trustee. 
 Section 8.09. Successor Trustee by Merger, Etc. If the Trustee consolidates
with, merges or converts into, or transfers all or substantially all of its corporate trust assets (including the administration of this Indenture) to, another corporation, by sale or otherwise, the resulting, surviving or transferee corporation,
without any further act, shall be the successor Trustee, provided such transferee corporation shall qualify and be eligible under Section 8.10. Such successor Trustee shall promptly mail notice of its succession to the Company and each Holder.

 Section 8.10. Eligibility; Disqualification. The Trustee (or its parent holding company) shall have a combined capital and
surplus of at least $50,000,000. If at any time the Trustee shall cease to satisfy such requirement, it shall resign immediately in the manner and with the effect specified in this Article 8. 

Section 8.11. [Reserved]. 

ARTICLE 9 

SATISFACTION AND DISCHARGE OF INDENTURE 

Section 9.01. Satisfaction and Discharge of Indenture. This Indenture shall upon request of the Company contained in an
Officers’ Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute such instruments reasonably requested by 

  
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 the Company acknowledging satisfaction and discharge of this Indenture, when (a) (i) all Securities
theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.07) have been delivered to the Trustee for cancellation; or (ii) the
Company has deposited with the Trustee or delivered to Holders, as applicable, after the Securities have become due and payable, whether at the Maturity Date, any Redemption Date, any Fundamental Change Repurchase Date, upon conversion or otherwise,
cash or cash and/or, solely to satisfy the Company’s Conversion Obligation, shares of Common Stock, as applicable, sufficient to pay all of the outstanding Securities and all other sums due and payable under this Indenture by the Company; and
(b) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied
with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under
Section 8.07 shall survive and, if money shall have been deposited with the Trustee pursuant to paragraph (a)(ii) of this Section 9.01, the provisions of Section 9.02 and Section 9.04 shall survive until the Securities have been
paid in full. 
 Section 9.02. Application of Trust Money. Subject to the provisions of Section 9.03, the Trustee or a
Paying Agent shall hold in trust, for the benefit of the Holders, all money and shares of Common Stock deposited with it pursuant to Section 9.01 and shall apply the deposited money and shares of Common Stock in accordance with this Indenture
and the Securities to the payment or delivery, as the case may be, of the principal of, and interest on, and the consideration due upon conversion of, the Securities; provided that such money and shares of Common Stock need not be segregated
from other funds except to the extent required by law. 
 Section 9.03. Repayment to Company. The Trustee and each Paying Agent
shall promptly pay to the Company upon request any excess money or shares of Common Stock (a) deposited with them pursuant to Section 9.01 and (b) held by them at any time. 

The Trustee and each Paying Agent shall, subject to compliance with applicable abandoned property law, pay to the Company upon request any
money or shares of Common Stock held by them for the payment or delivery, as the case may be, of principal, interest or amounts due upon conversion that remains unclaimed for two years after a right to such money or shares of Common Stock has
matured; provided, however, that the Trustee or such Paying Agent, before being required to make any such payment or delivery, may at the expense of the Company cause to be mailed to each Holder entitled to such money or shares of
Common Stock notice that such money or shares of Common Stock remains unclaimed and that after a date specified therein, which shall be at least 30 days from the date of such mailing, any unclaimed balance of such money or shares of Common Stock
then remaining will be repaid or delivered to the Company. After payment or delivery to the Company, Holders entitled to money or share of Common Stock must look only to the Company for payment as general creditors unless an applicable abandoned
property law designates another Person and the Trustee and each Agent shall have no liability therefor. In the absence of a written request from the Company to return unclaimed funds or shares to the Company, the Trustee shall from time to time
deliver all unclaimed funds or shares to or as directed by applicable escheat authorities, as determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of 

  
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 the Trustee. Any unclaimed funds or shares held by the Trustee pursuant to this Section 9.03 shall be
(subject to Section 2.03) held uninvested and without any liability for interest. 
 Section 9.04. Reinstatement. If the
Trustee or any Paying Agent is unable to apply any money or shares of Common Stock in accordance with Section 9.02 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 9.01 until such time as the
Trustee or such Paying Agent is permitted to apply all such money or shares of Common Stock in accordance with Section 9.02; provided, however, that if the Company has made any payment or delivery, as the case may be, of the
principal of, interest on, or amounts due upon conversion of, any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive any such payment or delivery
from the money or shares of Common Stock held by the Trustee or such Paying Agent. 
 ARTICLE 10 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 10.01. Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities
without notice to, or the consent of, any Holder: 
 (a) to cure any ambiguity, defect or inconsistency in a manner that does not materially
adversely affect Holders, as determined in good faith by the Company; 
 (b) to provide for the assumption by a successor corporation of the
Company’s obligations under this Indenture pursuant to Article 6; 
 (c) to add guarantees with respect to the Securities; 

(d) to secure the Securities; 

(e) to increase the Conversion Rate; 

(f) to irrevocably select a Settlement Method or Specified Dollar Amount, or eliminate the Company’s right to choose a particular
Settlement Method, on conversion of the Securities; 
 (g) to add to the covenants of the Company for the benefit of the Holders or to
surrender any right or power conferred upon the Company; 
 (h) to make any other change that does not adversely affect the rights of any
Holder, as determined by the Company in good faith; 
 (i) in connection with any Merger Event, provide that the Securities are convertible
into Reference Property, subject to the provisions of Section 4.02, and make such related changes to the terms of the Securities to the extent expressly required by Section 4.07; 

(j) to appoint a successor trustee with respect to the Securities; or 

  
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 (k) conform the provisions of this Indenture to the “Description of notes”
Section in the preliminary offering memorandum relating to the offering and sale of the Securities, as supplemented by the related pricing term sheet. 

Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon receipt by the Trustee of the documents described in Sections 10.06 and 11.04, the Trustee shall join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the
terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or
immunities under this Indenture or otherwise. 
 Section 10.02. With Consent of Holders. The Company and the Trustee may amend
or supplement this Indenture or the Securities with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding (including without limitation, consents obtained in connection with a
repurchase of, or tender or exchange offer for, Securities). The Holders of at least a majority in aggregate principal amount of the Securities then outstanding may waive compliance in a particular instance by the Company with any provision of this
Indenture or the Securities without notice to any Holder (including without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Securities). However, notwithstanding the foregoing but subject to
Section 10.04, without the written consent of each Holder affected, an amendment, supplement or waiver, including a waiver pursuant to Section 7.05, may not: 

(a) change the stated maturity of the principal of, or the time for payment of interest on, any Security; 

(b) reduce the principal amount of or rate of interest on any Security; 

(c) reduce the amount of principal payable upon acceleration of the maturity of any Security; 

(d) change the place or currency of payment of principal of, or interest on, any Security; 

(e) impair the right to institute suit for the enforcement of any payment on, or with respect to, any Security; 

(f) reduce the Redemption Price or the Fundamental Change Repurchase Price of any Security or amend or modify in any manner adverse to the
Holders the Company’s obligation to make such payments, whether through an amendment or waiver of provisions in the covenants, definitions or otherwise; 

(g) change the ranking of the Securities; 

(h) adversely affect the right of Holders to convert Securities other than as provided in or under Article 4 of this Indenture: 

  
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 (i) reduce the percentage in principal amount of outstanding Securities required for modification
or amendment of this Indenture; 
 (j) reduce the percentage in principal amount of outstanding Securities necessary for waiver of compliance
with certain provisions of this Indenture or the waiver of certain Events of Default under this Indenture; or 
 (k) modify provisions of
this Section 10.02 or Section 7.05 in a manner adverse to the Holders. 
 It shall not be necessary for the consent of the Holders
under this Section 10.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 10.06 and Section 11.04,
the Trustee shall join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 
 After
an amendment, supplement or waiver under this Section 10.02 becomes effective, the Company shall mail to the Holders affected thereby (with a copy to the Trustee) a notice briefly describing the amendment, supplement or waiver. Any failure of
the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver. 

Section 10.03. [Reserved]. 

Section 10.04. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it by a
Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.
However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 

After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it makes a change described in any of clauses
(a) through (k) of Section 10.02. In that case the amendment, supplement or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same
debt as the consenting Holder’s Security. 
 Section 10.05. Notation on or Exchange of Securities. The Trustee may place an
appropriate notation about an amendment, supplement or waiver on any Security thereafter 

  
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authenticated. The Company in exchange for all Securities may issue and the Trustee shall, upon receipt of a Company Order, authenticate new Securities that reflect the amendment, supplement or
waiver. Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or waiver. 

Section 10.06. Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment or supplemental indenture authorized pursuant
to this Article 10 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion, but need not sign it. In signing or refusing
to sign such amendment or supplemental indenture, the Trustee shall be provided with and, subject to Section 8.01, shall be fully protected in relying upon in addition to the documents required by Section 11.04, an Officers’
Certificate and an Opinion of Counsel each stating that such amendment or supplemental indenture is authorized or permitted by this Indenture, and an Opinion of Counsel stating that it will be valid and binding upon the Company and enforceable in
accordance with its terms (subject to customary exceptions as to bankruptcy, insolvency, creditors’ rights and equitable principles). The Company may not sign an amendment or supplement indenture until the Board of Directors approves it. 

Section 10.07. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article 10, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby. 
 ARTICLE 11 

MISCELLANEOUS 

Section 11.01. [Reserved]. 

Section 11.02. Notices. Any notice or communication to the Company or the Trustee under this Indenture shall be given in writing
and delivered in Person or by first-class mail (registered or certified, return receipt requested), facsimile transmission (confirmed by delivery in Person or by first-class mail (registered or certified, return receipt requested)) or guaranteed
overnight courier, as follows: 
 If to the Company, to: 

DexCom, Inc. 
 6340 Sequence Drive

 San Diego, California 92121 

Attention: Chief Financial Officer 

Fax: (858) 332-0191 

Attention: General Counsel 
 Fax:
(858) 736-0092 
 With a copy to: 

  
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 Fenwick & West LLP 

801 California Street 
 Mountain
View, California 94041 
 Attention: David Michaels, Esq. 

Fax: (650) 938-5200 

If to the Trustee, to: 
 U.S. Bank
National Association 
 633 West Fifth Street, 24th Floor 

Los Angeles, California 90071 

Attention: P. Oswald (DexCom, Inc. Convertible Senior Notes due 2022) 

Fax: (213) 615-6197 

All notices and communications (other than those sent to Holders) shall be deemed to have been duly given at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail, if mailed by first-class mail (registered or certified, return receipt requested); upon acknowledgment of receipt, if transmitted by facsimile; and the next Business Day
after timely delivery to the courier, if sent by guaranteed overnight courier; provided that notices to the Trustee and the Conversion Agent shall be sufficiently given upon actual receipt by the Trustee or the Conversion Agent. 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 Any notice or communication mailed to a Holder shall be mailed by first-class mail or delivered by guaranteed overnight courier or by
other electronic means to it at its address shown on the register kept by the Registrar. 
 Failure to mail a notice or communication to a
Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication to a Holder is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

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

Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event
or any other communication to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary (or its
designee), including by electronic mail in accordance with accepted practices at the Depositary, and in compliance with the Applicable Procedures. 

The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”)
given by the Company pursuant to this Indenture and delivered using unsecured e-mail, facsimile transmission or other similar unsecured electronic methods (including pdf files) (“Electronic
Means”); provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide 

  
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 such Instructions (each, an “Authorized Officer”) and containing specimen signatures of such
Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its
discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such
Instructions and that the Trustee shall conclusively presume that Instructions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The
Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and
authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such
Instructions notwithstanding such Instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (a) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee,
including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; and (b) to notify the Trustee immediately upon learning of any compromise or unauthorized use of
the security procedures. 
 Section 11.03. [Reserved.] 

Section 11.04. Certificate and Opinion as to Conditions Precedent. 

(a) Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (i) an Officers’ Certificate stating that all conditions precedent (including any covenants, compliance with
which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(ii) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including any
covenants, compliance with which constitutes a condition precedent) have been complied with. 
 (b) Each Officers’ Certificate and
Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture shall include: 

(i) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 

  
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 (iii) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

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

provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of
public officials. 
 Section 11.05. Record Date for Vote or Consent of Holders. The Company (or, in the event deposits have been
made pursuant to Section 9.01, the Trustee) may set a record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture, which record date
shall not be more than 30 days prior to the date of the commencement of solicitation of such action. Notwithstanding the provisions of Section 10.04, if a record date is fixed, those Persons who were Holders of Securities at the close of
business on such record date (or their duly designated proxies), and only those Persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such Persons continue to be Holders
after such record date. 
 Section 11.06. Rules by Trustee, Paying Agent, Registrar and Conversion Agent. The Trustee may make
reasonable rules (not inconsistent with the terms of this Indenture) for action by or at a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions. 

Section 11.07. Legal Holidays. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not
a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 

Section 11.08. Governing Law; Jurisdiction. THIS INDENTURE AND THE SECURITIES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER
OR RELATED TO THIS INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

The Company irrevocably consents and agrees, for the benefit of the Holders from time to time of the Securities and the Trustee, that any
legal action, suit or proceeding against it with respect to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Securities may be brought in the courts of the State of New York or the courts of the
United States located in the Borough of Manhattan, The City of New York, New York and, until amounts due and to become due in respect of the Securities have been paid, hereby irrevocably consents and submits to the
non-exclusive jurisdiction of each such court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself in respect of its properties, assets and revenues. 

  
 77 

 The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any
objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the State of New York or the courts of the United
States located in the Borough of Manhattan, The City of New York, New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such
court has been brought in an inconvenient forum. 
 Section 11.09. No Adverse Interpretation of Other Agreements. This Indenture
may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 11.10. Interpretation. Unless specifically referenced therein, no provision of this Indenture shall be understood with
respect to, interpreted by reference to, or incorporate any meaning relating to, any provisions, requirements or limitations set forth in the TIA or any related rules, regulations, case law or other applicable guidance. 

Section 11.11. No Personal Liability of Directors, Officers, Employees or Shareholders. No past, present or future director,
officer, employee, incorporator or shareholder of the Company, as such, shall have any liability for any obligations of the Company under the Securities, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

Section 11.12. Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All
agreements of the Trustee in this Indenture shall bind its successor. 
 Section 11.13. Multiple Counterparts. The parties may
sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF
transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be
deemed to be their original signatures for all purposes. 
 Section 11.14. Separability. In case any provisions in this
Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 11.15. Tax Treatment. The Company agrees, and by acceptance of beneficial ownership in the Securities each beneficial
holder of the Securities will be deemed to have agreed, for United States federal income tax purposes to treat the Securities as indebtedness that is not subject to the contingent payment debt instrument regulations under Treas. Reg. Sec. 1.1275-4. 

  
 78 

 Section 11.16. Table of Contents, Headings, Etc. The table of contents and headings
of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 11.17. Force Majeure. In no event shall the Trustee or any Agent be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, or other unavailability of the Federal Reserve Bank wire or facsimile or other wire or
communication facility; provided that the Trustee or such Agent shall use reasonable efforts consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 11.18. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 11.19. Calculations. Except as otherwise provided herein, the Company shall be responsible for making all calculations
called for under the Securities or this Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock, the Daily VWAPs, the Daily Conversion Values, the Daily Settlement Amounts,
accrued interest payable on the Securities and the Conversion Rate of the Securities and any adjustments thereto. The Company shall make all these calculations in good faith and, absent manifest error, the Company’s calculations shall be final
and binding on Holders of Securities, the Trustee and the Conversion Agent. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely
conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder of Securities upon the request of that Holder at the sole cost and expense of
the Company. 
 Section 11.20. U.S.A. PATRIOT Act. The Company acknowledges that in accordance with Section 326 of the
U.S.A. PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that
establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A.
PATRIOT Act. 
 [SIGNATURE PAGE FOLLOWS] 

  
 79 

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

			
	DEXCOM, INC.
		
	By:	 	 /s/ Kevin Sun

		 	Name: Kevin Sun
		 	Title: Vice President and Interim Chief Financial           Officer

  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	 /s/ Paula Oswald

		 	Name: Paula Oswald
		 	Title: Vice President

 Exhibit A 

[Form of Face of Security] 

[INCLUDE FOLLOWING IF A GLOBAL SECURITY] 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS
SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.] 

  
 1 

 [INCLUDE FOLLOWING LEGEND IF A RESTRICTED SECURITY] 

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

(1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE
SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND (2) AGREES FOR THE BENEFIT OF DEXCOM, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS
SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION
THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO THE COMPANY OR ANY SUBSIDIARY OF THE COMPANY, OR 

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 

(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE
THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 

  
 2 

 DEXCOM, INC. 

0.75% CONVERTIBLE SENIOR NOTES DUE 2022 
  

			
	 No. [        ]
	  	[Initially]1 $ [        ]
	 CUSIP No.: [252131 AE7]
	  	
	 ISIN No.: [US252131AE78]
	  	

 DexCom, Inc., a Delaware corporation (the “Company”, which term shall include any successor
corporation under the Indenture referred to on the reverse hereof), promises to pay to [CEDE & CO.]2[    ]3, or
registered assigns, the principal sum [of             DOLLARS ($             )] [or such lesser amount as set forth in the
“Schedule of Exchanges of Securities” attached hereto]4 on May 15, 2022, and interest thereon as set forth below. 

This Security shall bear interest at the rate of 0.75% per year from May 12, 2017, or from the most recent date to which interest had
been paid or provided for to, but excluding, the next scheduled Interest Payment Date until May 15, 2022. Interest is payable semi-annually in arrears on each May 15 and November 15, commencing on November 15, 2017, to Holders of
record at the close of business on the preceding May 1 or November 1 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth in Section 2.06(d), Section 2.06(e) and Section 7.04 of
the within-mentioned Indenture, and any reference to interest on, or in respect of, any Security therein shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of Section
2.06(d), Section 2.06(e) or Section 7.04 and any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention is
not made. Interest will be computed on the basis of a 360-day year of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed
in a 30-day month. 
 Any Defaulted Amounts shall accrue interest per annum at the rate borne by the
Securities plus one percent, subject to the enforceability thereof under applicable law, from, and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election,
in accordance with Section 2.02(e) of the Indenture. 
  
  

 
  

 

	1 	Include if a global security. 

	2 	Include if a global security. 

	3 	Include if a certificated security. 

	4 	Include if a global security. 

  
 3 

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

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

[SIGNATURE PAGE FOLLOWS] 

  
 4 

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

 

			
	DEXCOM, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 5 

	
	Dated:
                                         
               

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	  

		 	Authorized Signatory

  
 6 

 [FORM OF REVERSE OF SECURITY] 

DEXCOM, INC. 
 0.75%
CONVERTIBLE SENIOR NOTES DUE 2022 
 This Security is one of a duly authorized issuance of Securities of the Company, designated as its
0.75% Convertible Senior Notes due 2022 (the “Securities”), limited in aggregate principal amount of up to $350,000,000 (as increased by an amount equal to the aggregate principal amount of any additional Securities purchased by the
Initial Purchasers pursuant to the exercise of their over-allotment option to purchase additional Securities as set forth in the Purchase Agreement), all issued or to be issued under and pursuant to an Indenture dated as of May 12, 2017 (the
“Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities. Additional Securities may be issued in an unlimited aggregate principal amount, subject to certain conditions
specified in the Indenture. 
 In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the
principal of all Securities may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Securities then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and
subject to the conditions and certain exceptions set forth in the Indenture. In case an Event of Default occurs as a result of certain events of bankruptcy, insolvency or reorganization of the Company, the principal of all Securities then
outstanding shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

Subject to the terms and conditions of the Indenture, the Company will make all payments and deliveries in respect of the Fundamental Change
Repurchase Price and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Security to a Paying Agent to collect such payments in respect of the Security. The Company will pay cash amounts in money of the
United States that at the time of payment is legal tender for payment of public and private debts. 
 The Indenture contains provisions
permitting the Company and the Trustee in certain circumstances, without the consent of the Holders of the Securities, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of
the Securities at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the Indenture and the Securities as described therein. It is also provided in the Indenture that, subject to
certain exceptions, the Holders of a majority in aggregate principal amount of 

  
 7 

 
the Securities at the time outstanding may on behalf of the Holders of all of the Securities waive any past Default or Event of Default under the Indenture and its consequences. 

The Securities are issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. At
the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Securities may be exchanged for a like aggregate principal amount of Securities of other authorized
denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder
of the new Securities issued upon such exchange of Securities being different from the name of the Holder of the old Securities surrendered for such exchange. 

The Securities shall be redeemable at the Company’s option on or after May 15, 2020 in accordance with the terms and subject to the
conditions specified in the Indenture. No sinking fund is provided for the Securities 
 Upon the occurrence of a Fundamental Change, the
Holder has the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Securities or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change
Repurchase Date at a price equal to the Fundamental Change Repurchase Price. 
 Subject to the provisions of the Indenture, the Holder
hereof has the right, at its option, prior to the close of business on the Business Day immediately preceding February 15, 2022 only upon the occurrence of certain conditions specified in the Indenture, and on or after February 15, 2022
until the close of business on the Business Day immediately preceding May 15, 2022 regardless of the occurrence of such conditions, to convert any of its Securities or portion thereof that is $1,000 or an integral multiple thereof, into cash,
shares of Common Stock or a combination of cash and shares of Common Stock, at the Company’s election, at the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture. 

All terms used in this Security but not specifically defined herein are defined in the Indenture and are used herein as so defined. 

In the case of any conflict between the provisions of this Security and the Indenture, the provisions of the Indenture shall control. 

This Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on this
Security. 
 THE INDENTURE AND THIS SECURITY, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THE INDENTURE OR THIS
SECURITY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 8 

 The Company will furnish to any Holder, upon written request and without charge, a copy of the
Indenture. Requests may be made to: DexCom, Inc., 6340 Sequence Drive, San Diego, California 92121 (Attention: Chief Financial Officer and Attention: General Counsel). 

  
 9 

 ABBREVIATIONS AND DEFINITIONS 

Customary abbreviations may be used in the name of the Holder or an assignee, such as: 

TEN COM (= tenants in common) 

TEN ENT (= tenants by the entireties) 

JT TEN (= joint tenants with right of survivorship and not as tenants in common) 

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

  
 10 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  
 (Insert assignee’s social
security or tax I.D. number)

	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

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

and irrevocably appoint

	
	  
 agent to transfer this Security on
the books of the Company.

 The agent may substitute another to act for him or her. 

In connection with any transfer of the within Security occurring prior to the Resale Restriction Termination Date, as defined in the Indenture governing such
Security, the undersigned confirms that such Security is being transferred: 
  

	☐	To DexCom, Inc. or a subsidiary thereof; or 

  

	☐	Pursuant to a registration statement that has become or been declared effective under the Securities Act of 1933, as amended; or 

  

	☐	To a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended; or

  

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

  

							
	Date:	 		 		 	Your Signature:
				
	  
	 		 		 	  

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

  
 11 

	*	Signature guaranteed by: 

  

	
	By:
                                         
               

  

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

  
 12 

 CONVERSION NOTICE 

To convert this Security into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, check the box: ☐ 

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

If you want the stock certificate made out in another Person’s name, fill in the form below: 

 

	
	  
 (Insert assignee’s social
security or tax I.D. number)

	
	
	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

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

  

							
	Date:	 		 		 	Your Signature:
				
	  
	 		 		 	  

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

  

	*	Signature guaranteed by: 

  

	
	By:
                                         
                           

  

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

  
 13 

 REPURCHASE EXERCISE NOTICE UPON A FUNDAMENTAL CHANGE 

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

					
	Dated:	 	  
	  	  

			
	Dated:	 	  
	  	  

			
	Dated:	 	  
	  	  

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

		 		  	Signature Guaranty

 Principal amount to be repurchased (in an integral multiple of $1,000, if less than all): 

NOTICE: The signature to the foregoing Election must correspond to the name as written upon the face of the Security in every particular, without alteration
or any change whatsoever. 

  
 14 

 SCHEDULE OF EXCHANGES OF SECURITIES 

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

 

									
	 Date of Exchange,

Repurchase or
 Conversion
	 	 Amount of Decrease

in Principal Amount

of this Global

Security
	 	 Amount of Increase

in Principal Amount

of this Global

Security
	  	 Principal Amount of

this Global Security

Following Such
 Decrease
or
 Increase
	  	 Signature of

Authorized
 Signatory
of
 Securities Custodian

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

	  
	 	  
	 	  
	  	  
	  	  

  
 15

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